Valuable Lessons By Mr. Devendra Chaturvedi
Lesson No. 1 •
Stock market is business of risk.... So rst lesson is hat is your mental ca!ability to face trouble...
Lesson No. " •
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#nce you are mentally tou$h to take risk..... Decide your nancial limit to risk. N Still im!ortant.... Ma%imum time to e%!eriment.
Lesson No & •
'lliott (ave is su!er science.....none !erfect so far..... But you can*t succeed ithout learnin$ the basic conce!ts of im!ulse n corrections...
Lesson No. + •
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,irst & lessons.....e are done ith $ettin$ mentally ready-decide the risk of money n time and last knoin$ basic !rinci!al of '(.... Noet ready ith sim!le movin$ avera$es.....to start ith before ready for real time trade. My vie.....use bo numbers n its /0.2 factor...shorter tf loer is bearish hile contra is bullish.... 3s an e%am!le 14 is factor for 1&
Lesson No 5 •
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Still 6 am learnin$ after more than "5 years....the most secretive orld of 7S6. 3s a be$inner-focus should be on 1+ days 7S6 on close. Basic to start ith near /4 it needs caution hile belo &4 reversal do ha!!en.... 8rend n !attern of 7S6 has more !oers than !rice itself..... 9ractice can make us !erfect..... 8his is never endin$ sub:ect.....ill continue to rite forever.
Lesson No •
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Chartin$ set u!......vie analysis. 8o start ith daily chart.....1&;&+;0<;"&& days SM3 ith 1+ day 7S6 on close ith < 'ma. 8radin$ set u!..... (hichever SM3 of above + !rice $ettin$ su!!ort or resistance.....follo u! ith /0.2 factor SM3.....remove other avera$es.
Lesson No / •
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6ntra day set u!. ,irst need is to maintain utmost disci!line n stay aay from levera$e !osition. Belief....folloed by &;5;14;15=minute candles. 7eality....rst need is to look at monthly charts... 3s.....!otential can be knon only throu$h lookin$ at lar$er 8, n risk are alays beyond si>e of your charts...... 8han follo your system lookin$ at !robable o!!ortunity n ith smallest !ossible SL... 3dvice......indices are better o!tion in this trade n stocks too risky.
Lesson No 0 •
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Value of number..5 #n any 8,....cross;break of 5 candle hi$h;-lo is !oerful bullish;bearish reversal and 6mmediate sto! loss either side is 5 sma on close.
Lesson No < •
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Market takes <42 of the time to decide here to $o and reaches there in 142 of the time. Moral......if market is not in hurry.....hy should e? So e must !lan ell on studies technical n nancial arran$ements......either e should ait for $ood o!!ortunities or should trade very small till e reach our level of comfort.
Lesson No 14 •
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Control your !ulse n reduce your trades so real o!!ortunities are not missed..... 8o e%!lain more.... 1.all that $litters is not $old. ".sudden decisions usually do result in bi$ losses. &.focus on your !lan.
Lesson No 11 •
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8his is most im!ortant learnin$...<<2 of failures for this reason. @Never ever increase your e%!osure in s!eculative transactions by utili>in$!rots earned@. 8his !roblem has roots in every form of levera$e trade....thou$h. 1.<42 buy ri$ht stocks or other instruments. ".4;/42 have ri$ht kind of entry.... But success on the ay make us over condent-com!lacent n undisci!lined.
Lesson No 1" •
Stock market is very vibrant......there is no % funda n events alays diAerent...it is collective isdom of millions of souls....to read it correctly......Be innovative......ado!t the chan$es fast.
Lesson No 1& •
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Most critical issue is brou$ht under most com!licated number. (e all trade for e%!ectin$ a !rot. 9uttin$ SL is $ood for !rotectin$ your ca!ital but it is sureshot erosion too of the ca!ital. Lesson is.....calculate e%!ected loss rst..... Ne%t calculate the !otential......if the ratio toards !otential more than +;5 times....enter the trade else ,#7'8. 8radin$ is method for earnin$ not to create brokera$e for other !erson.
Lesson No 1+ •
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fe days in life are over sensitive........like today hen sun saturn con:unction is takin$ !lace............you $et all information throu$h various channels. all you have to do is to avoid takin$ ma:or decisions on all such days in life.......<<2 !roblems are born out of such astrolo$ical reasons.
Lesson No 15 •
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Com!arison ith another day is ild dream hich can hurt you very badly.....trade stren$th. '%am!le....."44& bull market lasted over &/ eeks....$ave + intermediate correction in ran$e of <;1&2 in indices on the ay....it as sector s!ecic moves months after months here steel !eaked in se!t*4& hile banks movin$ in end.... No atch "41+......move continue in +4th eek.....corrections every month but only +;52 ....stocks !eaked middle of the ay.....$o throu$h dee! corrections.....restart hen <42 ere either short or feared. Moral of the story.....<42 shoutin$ to! hile /42 stocks.....0< eek sma still trades belo "&& eek sma.....
Lesson No 1 •
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Most !oerful n :uicy double to! double bottom formation..... " similar !rices in vicinity of ;&2 on closin$ basis may be termed as double to! or double bottom.......!rovided distance covered on the other side is not less than 152. '%am!le......#ctober 40 lo close as "54+ from here nifty traveled to &1+5......another lo in march 4< as "5+4......this formation resulted in nifty risin$ to +<4 in & months in early :une4<.
Lesson No 1/ •
6t is conce!t hich is valued by markets based on its viability-uniue business model-com!etitive ed$e n ability to ithstand adverse times.....as conce!t $ets mature.....the valuations rise ra!idly.
Lesson No 10 •
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8here are several methods in use noadays.....startin$ from harmonics to (( to !ro$rammed 3L#...but Eltimate truth is '(....until n unless e understand the basic conce!t of im!ulse n correction.......>i$ >a$ n sim!le...len$th of diAerent im!ulse.....no !ro$ram ill hel! you. '( has no substitute....very sim!le.
Lesson No 1< •
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3ddiction is $ood for $ainin$ knoled$e n studies never bad......but be a o!!ortunist as far as tradin$ is concerned.... Fou need a break once money is made.....if losin$ more than ";& trades.....call a break.
Lesson No "4 •
Gourly daily eekly or monthly o!!ortunity based on sma crossover..... ,ollo crossover of 14;1& to trade either side....kee! on trailin$ your sto! losses as $a! beteen " sma rises.
Lesson No "1 •
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Go midca! becomes a lar$eca!......... 7SC...........rst basic tool to identify that is out !erformance based on rsc..........once hi$her to! hi$her bottom is visible on lon$ term 7SC..........stock become due to si$nicant reco$nition. chart enclosed is for indusind bank..............started out !erformin$ nifty and bank nifty in middle of :uly "44< H<5..............returns had been consistent thereafter....... S'LL ill tri$$er if and only if 7SC makes loer to! loer bottom formation.
(eekly Chart 6ndusind Bank
Lesson No "" •
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7eal bull.........the !erson illin$ to accumulate at every failure but have trust on his ambition........ 7eal bear.........the !erson illin$ to listen all but kee! uite...attack only hen smell over o!timism ith >ero tolerance takes over. BELL if follos bear style ill be accident !rone...........and bear in bull style can never survive. S# be either bull or bear........shun neutrals.
Lesson No "& •
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Distractions need to be ne$lected......... in sma.........1;" days breach make you feel about reversal but kee!in$ close atch $ets you bi$ money once !rice cross the sma a$ain after breach.........$iven current as ell as "440 !icture both. learn the value lyin$ inside dee! studies than astin$ money on lottery.
Lesson No "+ •
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Banks are !ro%y to any secular trend......:ust like blood re!orts are indication of our health. Last sta$e of hm days in 1<<" ere led by bi$ daddy SB6.....last sta$e of bear market in "44441 as a$ain led by banks.....even small end of 1st ave in "44& as led by banks...."44/ bull market rituals ere !erformed by banks....bear market as not over des!ite hu$e !anic of oct "440 till Bank bottomed out in march "44<......B ave as able to com!lete only due to ne hi$h in banks....even "41& sideays trend as not over till des!air in banks reached to its nadir............even this bull market ill not be over till eakest bank multi!ly......last eek is be$innin$ in this direction.....corrections ill come n $o but hi$h ill ha!!en only ith un!recedented o!timism in banks. Iano$e tabhi to mano$e.... Sell sell chillane se Mandi nahi aati Bhai.
Lesson No "5 •
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(hat is suee>e?....... Suee>e is tra! of ma:ority of traders on ron$ side of trade.....it does not ha!!en everyday but once;tice event every decade...... Crash;suee>e are " diAerent thin$s.....crash does ha!!en hen ho!e n o!timism stretched too far.....like 3!ril 1<<" or Ianuary "440.....even 68 bubble of "444 as a crash. Suee>e e%am!les are "441 tra! of 68 bulls in selective stocks like $lobal n hfcl......Lehman insolvency event of "440..-...3u$ "44/ tra! of bears...... Crash are based on events visible but denied... Suee>e are based on events hich catch traders totally oA $uard. Secret of both ty!e of bullish;bearish suee>e is ne hi$h;lo in 7S6 out of conventional ran$e.....it has lar$er
Lesson No " •
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8his is most im!ortant lesson of all e discussed so far... 8his is sole reason that !eo!le incur loss des!ite bein$ in.......ri$ht trade....ri$ht !rice n ri$ht trend. Don*t mi% vision ith tradin$ skills.... Vision is all about !otential of a trade in a certain tf....ith clear vie about the risk involved.. 8radin$ skill is all about continuous risk evaluation .....!ros n con*s of remainin$ in trade or come out of it. Vision is result of remainin$ in studies ith close eye on $eo!olitics around the $lobe....!otential of lon$ term charts....havin$ e%!ertise on indicator of your choice. 8radin$ skills need to be develo!ed by continuous !ractice ith !ro!er nancial !lannin$. '%am!le.....anyone can visit my timeline on &440"41&.....6 e%!lained clear vision of & cycles mer$ed n bi$ reversal due instant ith similar astro vies......if anyone had ";& ideas like century arvind Voltas cesc irb combo ith !ro!er !lannin$...:ust ima$ine ealth creation of over 14;15 lacs on ca!ital of ";& lacs.
Lesson No "/ •
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Go to tackle !ressure? Stock market is like a cave of hu$e ealth....ruled by most !oisonous snakes around it..... 'ducation may hel! to nd better o!!ortunity. ,inance may hel! to !lan bi$$er. (isdom may !rovide you ea$le eye.... But unless you learn to tackle !ressure ell....stay aay from it. None is $od.....!ressure catches ith all.
Lesson No "0 •
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No science ill ever make you lose money... Garm is done by tradin$ !ractice-tradin$ habits-$reed and fear.... #nly disci!line can hel! to make u!.
Lesson No "< •
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,iltration by ,ibonacci...use of "&& minute candle ith 7S6 is !robably only method....hich ill hel! you to catch all to! n bottom.....brave at e%act !rice hile safe !layers at distance of 1;1.52. Ese it to believe results hich you must not have dreamed.
Lesson No &4 •
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6n bull market.....every time market sto!s risin$ doesn*t mean it ill fall.... 7everse is true in bear market.... Consolidation and distribution also !art of business.
Lesson No &1 •
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M36C NEMB'7........... kindly note at the outset that this is not any tar$et of im!ulse but breakdon !oint of any trend........... atch this nifty eekly chart for last 14 years............bull market of "44&"44/ seen all risin$ rsi till :une "44 hen rst lo of rsi H eekly closin$ of "0 is observed hile runnin$ lo as "5<5..........tri$$er as done in march "44/ hile nifty made another hi$h H &40 but rsi as loer than "0........ inference as sim!le...........anyday if nifty breach &40 on close.........it ill touch minimum "5<5 and ma%imum !ossible as "&14 hich as runnin$ hi$h seuence of rsi till "445......... fact..........once &40 as breached on close in second eek of october "440..........ma%imum tar$et of "&14 as done in :ust 1& orkin$ days..........bi$$est and shar!est fall ever in history of indian stock market..........!robably one oA event in anyone@s life......... ma$ic number are not tri$$ered every day;eek or year. this study shared for last time due to my commitment J knoled$ebank.........
Lesson No &" •
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Contra tradersKbears in bull market n bulls in bear market are the ma:or source of volatility.....they indul$e in contra trade on !rete%t that every sin$ is identical..... More im!ortant is.....failure of contra traders time n a$ain L'ads to.....bulls n bears $ettin$ over condent.....ultimately that over condence leads to 7eversal.
Lesson No && •
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3nalysis "5 years back as totally diAerent than hat it is today?..... 6t as !ure sot analysis then alon$ ith technical n some common sense about business of the com!any ......it as !ossible to $o correct <42 ith some time decay if e ere able to avoid short term !lays.......it as mi%ture of disci!line ith levera$ed !ositions hich could be !lanned ith antici!ated losses......it as $reat system to learn fear n $reed. No it is most about nancial derivative !roducts n more so about o!tions....no chances of $oin$ ron$ very hi$h as.....!resent day business !roduct don*t allo time decay-..e may be 1442 correct but still fail.....sim!ly e%!iry syndrome.......if e are not disci!lined no......and don*t !lan ith utmost care......over o!timism on either side may !rove very costly.....risk of ca!ital becomin$ '7# very hi$h.......it is suicidal no to even ima$ine fear n $reed.
Lessson No &+ •
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Markets are nothin$ but a classroom...... (hen you :oin it.....you have to read many lan$ua$es.....than moves to mathematics and fe arts too...nally movin$ toards business related sub:ects or science..... Choice is alays yours......to read everythin$ $racefully or ander in search of short cuts... Gere markets are vibrant n never endin$....hard ork-eyes of ea$le n focus are !rimary needs to remain in contention......focus ill hel! you to nd n decide ";& $ood trades hich can fulll all your needs.
Lesson No &5 •
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Best invention that mankind had... 6 can be ron$.....!lan for it.....also be honest ith yourself to acce!t it. '%am!le.....Columbus reached to south america hile searchin$ for 6ndian shores.
Lesson No & •
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'ven if you are ri$ht 1442....may become bi$ loser if disci!line left....on the contra even if 1442 ron$....may $et :ack!ot if disci!line folloed..... Because e never kno....hen tide ill turn. Sim!ly disci!line is mother of all success and survival.
Lesson No &/ •
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(hat is disci!line in stock market? 8hou$h there is no % rules on this....tryin$ to elaborate my vies.... 1.if your tradin$ eAects your other activities....it means it is lost. ".if tradin$ im!act your other commitments of re$ular life....a$ain it is lost. ,ollo this much minimum.... 1.bet only ";&2 of your risk takin$ ability on sin$le trade. ".never trade ith money hich you need over ne%t fe months. &.don*t invest in unknon names if that money reuired in ne%t 1;" years. +.don*t increase your si>e of trade ith credit in your M8M. 5.once a !rotable trade is closed.....avoid to trade for ne%t /" hours.... Bi$ sub:ect....can*t be e%clusive
Lesson No &0 •
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(hen times are tou$h n not suitable for our style of orkin$....stay aay n kee! atchin$. Survival is core theme in this orld of intense com!etition..... Iaan he to :ahan he.
Lesson No &< •
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(hatever are !ositions.....look at markets as if you have no vies on it..... 7eadymade vies across the time is source of miseries...
Lesson No +4 •
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(hatever are !ositions.....look at markets as if you have no vies on it..... 7eadymade vies across the time is source of miseries....
Lesson +1 •
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6 kno ell that many ill not a$ree....but this is my learnin$. 9rice is an continuous !rocess but time never comes back....... Somethin$ better today not useful if not !lanned ell yesterday. @Value the time@.
Lesson No +" •
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1 factor a!!licable in all circumstances is @risk reard@. Gi$her the ratio in favor of reard....bi$$er is reason to focus on it.
Lesson +& •
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Consolidation in bull market or distribution in bear market......may be in co!y book fashion many times....but can be non traditional too. Success de!ends in e%ibility in si>e of your business..... 3ccount for failures rst.....!reserve your success.
Lesson ++ •
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Very fe reuirements to $et constant earnin$. read more trade less focus &;5 stocks....... ait for your o!!ortunity never track nifty to trade stocks never track stocks to trade nifty all ill fail at times..........but im!rovement must constantly. !roof.........if e traded stocks for last months trackin$ nifty........it as <42 failure...........if you feared nifty !attern of last " days to trade stocks....you are missin$ :ack!ot.
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7esearch is continuous !rocess......much beyond any book or any ritten science. 51105<&&/+""01+0. 7elation is 140 days...... My friend ultimate Jtushar!un:ani. 7est market is ultimate..... Oindly !lease note 140 is derived $ure n no more e%!lanation reuired to say im!ortance of. 1 4 0.
Lesson No +5 •
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6m!ortant knoled$e sharin$ information..... Many friends ask me from time to time about astrolo$y on markets.... Before you rely on it....kindly note fe im!ortant !oints.... 1.you must have basic knoled$e of astrolo$y. ".you must kno a!!lication in markets is uite diAerent from :atak. Book is titled @ar$ha martand@ by !t mukund vallabh Mishra n !ublished by motilal banarsidas. Mystery....very fe ill be knoin$ that even 6SL3M has its on method of astrolo$y called @
[email protected] :ud$e the demand n su!!ly rule.....this book deals ith that too....thou$h briey
Lesson No + •
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bull markets;bear markets never tell the real !icture on indices........story is alays don the line. e%am!le.........lon$ term bear markets $ets !rice corrected very fast on indices but hen indices move in consolidation for years..........lot of ltration does take !lace in over valued stocks for years......same ay even shar! corrections in bear market are ne$lected by many unknon names.........
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(ord of isdom..... Money-success n fame de!end on your stren$th not on eakness of enemy.... 8his is reason successful !eo!le talk about themselves n their beliefs..... (ords of $osami tulsidas.... Samarath O# nahi dosh $usaain.
Lesson No +/ •
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8here is a time in life of markets.....hen trend n collective isdom run on the same side....these times don*t last lon$....reversal alays take !lace at such times..... 'arly "44&;late "44/;early "44<;late "411 are fe such e%am!les.
Lesson No +0 •
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Before you enter this mind $ame called stock market.....!lease ensure fe thin$s. 1.do you kno hat you ant? ".do you kno losses come rst? &.do you have !ro!er money mana$ement skills? +.do you trust yourself?...... 6f you lack any of them......don*t try to follo others.
Lesson No +< •
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6dentication of bull market reversal....... Dama$e to trend most im!ortant !arameter....&+ breaks 0< in fast n furious manner....it is not :ust retail but bi$ hands too burn their n$ers before they can even ima$ine.... 7ead data after 14+1<<";softare crash of 154&"444;0 1"440.....only rst + eeks of fall.... "nd identication.....ith 1.10 or ".10 more time in bounce.....it fails to cover even.10 of the fall..... &rd identication.....to! of rst bounce become very critical to! .....not easy to cross for lon$ time......remember 55+5 of may "440.
Lesson No 54 •
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Oee! your disci!line and nd 1;" out !erformer every & months....money to o like ater. 6nvestors ho identify one bi$ investment idea every 1" months make more than !!l ho nd ne stock every 1" hours. this is not to hurt any feelin$s but shoin$ my style.
Lesson No 51 •
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Success in market is net result of....... Oee! atchin$ n aitin$ for a hi$h !robability trade..... Don*t aste your time in ifs n buts....once that o!!ortunity comes..... Nature is su!reme n markets are !art of it..... 6m!ossible to say all the time....that hat ill ha!!en. So never for$et e all are bound by nature n en:oy your moments of hi$h beliefs.....
Lesson No 5" •
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Best o!!ortunities do arise Htou$hest time....calm-com!osed-conviction n coura$e can hel! us to $rab them..... Safety security n sto! loss become redundant at such times..... (hat counts than?..... 9lan-disci!line n illin$ness to lose. '%am!le..... #ct D'C Ian.....market closed " days continuously belo 0< days sma....&rd closed hi$her so count $ains.
Lesson No 5& •
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(isdom lies in reco$ni>in$ your mistake.... #nly brave n cool minds can achieve it.
Lessson No 5+ •
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8rend can be !redicted ith near certainty... But... 8ar$ets are :ust a !robability....as aves has nature to hide more than e%!ress.... 6f 6 bou$ht B'L H life time lo in November 1<<0......could 6 !redict tar$et that time? 8here are my close friends ho bou$ht Siemens H1/4 in "44&K14fv.....indusind bank H& in "44<......they never asked me about tar$et...... 6 never kno the tar$et....but certainly $et feelin$s about the !otential.... Moral..... Do learn to identify o!!ortunities....!lannin$ n !atience is key.....askin$ calls no solution.
Lesson No 55 •
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Bi$$est hurdle of stock market.... Before you discuss your !ositions ith anyone...kindly remember everyone feel here that....hat he;she doin$ is only ri$ht....all other bi$ fools..... 'ither have trust on your ability n !lan....or disclose at your on risk.
Lesson No 5 •
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(hy a$s are formed? 8his is very im!ortant !attern in technical study of any chart...... ,la$ are like the :unction on ay to nal destination.....more time consumin$ they are more lethal are the results. 8he reason of they takin$ time are.....events hich are certainly visuali>ed take their on on time to materiali>e....also lots of accumulation;distribution need to be achieved hich is diPcult due to ide faith !revailin$. Note....this is hat 6 understand.....no ish to deny any other e%!lanation !revailin$.
Lessson No 5/ •
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Conce!ts are most !recious than stocks in $ivin$ the returns..... (hat is conce!t?....somethin$ ne ith little or nil com!etition.....even hencom!etition start....it leads ith uality. 6nfosys-hdfc-kirloskarbros-atlas co!co n >eetel are fe best e%am!les of !ast
Lesson No 50 •
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Let market be any smart..... 6nherent stren$th or eakness catches it sooner than later
Lesson No 5< •
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Bulls bears !ositional traders investors short term traders or even day traders.....same medical for all..... 8his market market $ive chance to all.....universally all.....universally acce!ted. 8here are are times....hen they feel !ositive !ositive vibration as !er their ay of thinkin$. 6f you a$ree on every thin$.....than hy can*t ait for your turn? olden ords from my $uru.....reduce your trades so real o!!ortunities are not missed.
Lesson No 4 •
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3cce!t that you are not sure...... 8his 1 line is $ood $ood enou$h to create create many virtues in in us.....it ill $uide throu$h many tou$h !hases n create intuition at ri$ht moment of time...... 9atience is !ossible throu$h this 1 line acce!tance.
Lesson No 1 •
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Lesser retracement in lar$er 8, carry the risk of reversal......rise reversal......rise or fall. Lar$er retracement retracement in smaller 8, are are reversal reversal done
Lesson No " •
7e!entance has no !lace in a $ame of chance.....more you focus on it.....more losses ill mount n host of o!!ortunities ill be missed.
Lesson No & •
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8ruly reali>ed..... Creativity coura$e to fail Qmeanin$ful research. Need ima$ination to create. Need !lan to accommodate failure. Need dream to reali>e returns of research.
Lesson No + •
...6, monthly chart says that stock or indices has certain limit only either side.........trade is due only after distance other side rises...tradin$ near that !oint of e%haustion is dan$erous.
Lesson No 5 •
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,all in bull market is strate$y by bi$ hands to create ,'37 so their ne%t :ourney to ride become easy..... 7ally in bear market is strate$y to create com!lacency so dum!in$ become easy.... olden ords from my $uru.....late shri !anka: ka!adia.
Lesson No •
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reed-com!lacency-vi$ilant n fear have hu$e value in ascendin$ order..... Masses a!!ly it in descendin$ order.... ,rom diary of my $uru......late shri !anka: Oa!adia.
Lesson No / •
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7S6 above unusual level of 04 is indication of sustained rally........ this daily chart of tatacomm is self e%!lanatory..7S6 #N D693(3L6 "41& S86LL D#6N (#ND'7.
Lesson No 0 •
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'ither track the stock inde!endent of anythin$......or throu$h use of 7SC.....not buyin$;sellin$ hen other stock in sector is doin$ that...... '%am!le....6nfosys as not buy for years hen 8CS; GCl ere out!erformin$....same thin$ can be said throu$h multi!le e%am!les like century ; arvind.
Lesson No < •
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Value tradin$......on lines of value investin$ very useful ay to create ealth.... Fou need vision-money mana$ement-!lannin$-trust-focus n !atience.....also should not $et carried aay by noise elsehere.... My life devoted to sub:ect....not a call !rovider but still !eo!le love n trust me.
Lesson No /4 •
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(hy <<2 lose money des!ite their bein$ really intelli$ent..... Due to ides!read belief....im!ulse reversal are leadin$ to crash n bottom out ill led to bi$ boom...... Market has its on mind n time correction in bull market n time killin$ in bear market are its most !oerful ea!ons.....hich ultimately leads to diAerent formations.
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Ruality of bull market.....till reversal strike in "440.....e never kne hat as $oin$ in "44/.....same can be said about "444 or even 1<<". 3ny bull market covers a multitude of sins- so there may be all sorts of !roblems ith the current system that e on*t see until the bear market comes.
