Know story, know result but negligent mindset

This story is about two friends namely Ram and Raja; they both are good friends for many years and a regular investor on stock market. Last summer they plunge into Day trading with an investment of 1, 00,000.

Ram was in a hurry to make profit, and he traded rashly, he started buying stocks, futures, options without even having a concrete plan or strategy. Someday he makes huge profit and drains those profits the next day. He also cultivated a habit of entering multiple trade if he loses, to catch those loss made during the previous trade, by doing this he is successful sometime and failed many times. Now Ram has only 40,000

Raja was also in a hurry to make profit and he too traded like Ram (rashly), but after few losses he actually paused his trading and started to think on a concrete plan. Now Raja has only 60,000.

Let’s pause our story here…

Raja and Ram are not factious characters; it’s you, me or anyone around us. Just think back how much we have invested on this stock market, how much we got and how much we lost.
 

[To be continued]


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One more tiny calculator added!!!

Yesterday night i worked on one more tiny calculator application namely, Gann Calculator.

How to use:
Enter any swing high/low or yesterday high/low and click submit. It will list down all possible targets.

Please test and let me know your comments, if its not useful I will remove it ;-)

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ASTRO COMMERCIAL GUIDE

My close friend gifted be a book last week, and everyday he calls me to check whether  I read the book or not, so after a long time I got a chance to open it yesterday night while watching India stamping on Australia.
I opened the book and the first sentence itself hits me “Knowledge is Money. True!!, Knowledge is hard cash.”

This book is  about applying Astrology over stock market by Pandit J.S. Vekatachala Sastry; initially I thought... oh! god another Gann strategy, but while going through the book in details, I really astonished the ways of predicting the market. I will experiment on those area.

However one chapter pulled me in..... to read in detail about ” Zodiac signs, dealing with Planets, stocks and Shares and the Different Principle commodities governed by them”. I immediately made a note and took my past trade history to see whether It really matches, AmaaaZZZZINGGGly!!! I have made huge and good profitable trade on bank and financial sector stocks compared to other sector...so its working   :)...Hurray! Hurray!!.

Now to the point :)

Please check the below image (I created this from the data on the book) for your star sign matches to which commodity or sector. Now check your past trade history data if it matches....CATCH THEM YOUNG!

one thing is very important no matter what your stars sign says unless until you don’t have a proper stoploss , neither god nor star can save you!





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one more tiny application on my research lab (Nifty SPOT LIVE PRICE with 1 minute delay)

I am working on displaying LIVE Nifty SPOT  price on by blog with 1 minute delay.

Presently i am working on;

• Displaying today High, Low, Last traded price (with 1 minute delay), point changed from previous close
• setting a price and submit, when that price reaches it will alarm

If you guys want any more features, please let me know I will add....

First draft version look and feel

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Comments from JSTOCK

Friends, This morning I had a sweet surprise, JSTOCK creator Mr. Yan cheng cheok has posted a comment in my blog under JSTOCK post, as per him in the next version they are planning to add indicators like RSI, CCI, MA etc..,which will help traders to filter out all stock to give buy /sell signal.

If you have used this software please let me know your comments or a wish list which I will sent to him so that new version will be more effective and ease of use.


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Two new calculators added

Wish you all happy Diwali

I have created and added two calculators on the right hand side under "contact details"

• Camarilla
• Projected Fibonacci targets

Please make use of it and do let me know your comments at niftyreport@gmail.com


Note: Please let me know if you are not able to see above calculators on right hand side.



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3 types of traders in evaluating the strength and duration of a market move

Long term trader:

Will only be concerned with correction of lows that hold above long term prior lows, such as previous year lows, previous quarter low, or the previous month low

Short term trader:

Will pay close attention to previous week low or high to watch for violation

Aggressive day trader

Will watch each day high and low but usually take the past three days range as important.

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The Five Costly Mistakes of Traders

1.   Not limiting your losses

The key to trading success is to limit your losses.  Your average loss should be smaller than your average win, therefore always know when to exit a trade.

2.   Not taking profits

By nature traders are greedy; the key to trading success: Small profits, but consistently. Consistency is the key, because if your profits are consistent and predictable, then you can simply use leverage to trade size. Therefore you MUST know when to exit with a profit. 

3.   Lack of a trading strategy

Having a trading strategy is probably the single most important thing you can do in order to succeed with trading. Having a trading strategy means having a predefined set of rules you have developed for your day trading.
 

4.   Not controlling your emotions

What are the main emotions of traders?? Here are a few: Greed, Fear, Panic, Indecision, Anger… and maybe excitement. In order to become a successful trader you have to control your emotions. The best strategies and tools are useless if you lose your head when being in a trade.
 

5.   Overtrading

If you want to succeed in trading, then you must understand the concept of taking only the “high-probability trades” – less is more.
Many traders think that “quantity” is better than “quality”, they trade like maniacs and make their broker rich.




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