INDIAN MARKETS CALL FOR 29 JANUARY 2010


Posted by A J at
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4 comments:

  1. naveenvadavadagiSaturday, January 30, 2010 3:05:00 PM

    Hi,

    I guess yesterday Bank Nifty SAR has triggered but I missed that. But US markets are in red. Lets see how the markets open in Asia as well as in India.

    Regards.

    ReplyDelete
  2. A JSaturday, January 30, 2010 9:11:00 PM

    Hi Naveen,
    i have answered your comments regarding SAR and some other aspects..yes SAR was triggered it was 8550...and if reversed it would have given profits too...and if combined with intra day movement would have given much more profits....clearly bank nifty offers much better trading opportunities than nifty.
    So you missed the sar?...nothing unusual there...it happens with me as well very often,thats because the problem is in the mind and not in the markets.
    how do i solve this problem?simply by putting the sar 5-10 after market opens..at times i exit even before sar is hit(go back to that checklist...it is mentioned under "expert trader" ...point 7...that professional trader will tend to move before his actual stop is hit...i think i am reacting quite a bit like that though not always...and sometimes ignoring the SAR as you did...so learning continues)..bank nifty was not falling below 8300 since Wednesday...telling us that momentum is slowing down and reversal is close by...so we should lighten position at that point...close in our stops,or be careful in intraday trades and check to see reversal...Following SAR is probably the laziest approach to trading and still its quite profitable!!!..we would have been short from 9069 till 8550---519 points approximately...following the laziest approach to trading...in around 5-6 days of trading...worth the effort...putting SAR takes 15 sec...and you can leave the markets then to do its own intraday gig
    Cheers

    ReplyDelete
  3. naveenvadavadagiSunday, January 31, 2010 1:10:00 PM

    Hi Anuj,

    Thanks for you detailed explanation.

    Yes Putting SAR takes 15 sec, and we can leave the terminal for whole Day.

    WOW thats a brilliant idea.

    Thank you so much.

    Regards.

    ReplyDelete
  4. A JSunday, January 31, 2010 1:32:00 PM

    @naveen
    You got my point
    Good luck with your trading
    :)

    ReplyDelete

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