It was fine Saturday evening in Shimla.
Rain had stopped and the weather was pleasant with cool breeze!
The party had started.
But Jeet was visibly depressed!
"Why are you down today?" - Ameen (we fondly call him Uncle chips), a big time potato merchant of Shimla asked Jeet!
"I should have bought into the market when Sensex was at 7500 in 2008." replied Jeet!
"It is already at 17000 now, I really missed the bus. That's why I am sad!"
"Look, Jeet!" replied Ameen, "My Dad entered potato wholesale business in 1994 when a 100 kg bag of Jyoti variety potato costed around Rs.32/-. My dad used to make around 5-15% on each bag!"
"Today, 16 years later, the same 100 kg bag of potatoes of the same variety costs around Rs.500/-! I have taken over the business from my Dad. I, too, make 5-15% on each bag!"
"It is expected that the price of this variety will shoot to Rs.2000/- per 100kg bag in next 8-10 years and my son can be assured of 5-15% margin!"
"Trading will always be there till the fluctuation in price is there!"
"People made money when Sensex was at 100 in 1979. People made money when it was at 7500. People are making money when it is at 17000. And people will continue to make money when Sensex will be at 1 lac!!!"
"Profit of trader comes from variation and not from absolute level!"
"Businesses will continue to grow! New businesses will continue to replace old businesses!"
"Now, cheer-up and enjoy the party!!!"
"Cheers!" said Jeet!
3 comments:
Dear JM bhai, I am a silent admirer of your blog. Nice one indeed - i wish to have your comment on Axis bank wrt - tiredness of its RSI. Regards
hello sir
sir i m following u. i read the previous article on RSI to trade in minifty. i m new in this market and want to trade in minifty. can u help me when it is in overbought zone and when oversold zone, so i can trade accordingly. i shall be very greatful to u sir
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