play one side

one of the best ways to learn trading is watch business tv channels.

and one of the best ways to learn wrong habits in trading

which will die hard and not go away easily

is also to watch business tv channels.

--

these channels are injurious to wealth

because their noise and excitement

make you nervous or excited

fearful or greedy

impulsive and reactive.

besides, they create a false impression that

"everybody is thinking that way"

this is very dangerous

as this makes the retail traders

sitting ducks for the operators.

if i were an operator

i would keep a close watch at what sentiment the mass media is spreading

i would be using it to trap the traders!

--

but

as i said in the first line

these channels are also the best ways to learn trading.

how?

why?

because they expose you faster

to the sintax and rules and phrases and terms

theoretical as well as practical aspects....

--

the discussions of the "experts"

interviews of businessmen, bankers, traders, economists etc.

is highly enriching for the new traders!

--

one such technical analyst i admire

is sudarshan sukhani.

these days he comes on et now channel.

i admire this man

not only for his

ability to read situations

but also his guts

to speak clearly unambiguously.....

he never uses

'if and but' language.

he never uses face saving tactics

and hence he never loses face

whatever be the outcome of his calls or opinions.

--

quite a few things that come out of his mouth

are like quotations for students of trading.

--

one such thing

which he uttered this evening

is shared below -

when asked

he said that in his opinion

the market was presently

in uptrend (whether short lived or more).

"up" was the theme being played, he said.

and when the anchor asked him

"do you see some stocks which can be shorted right now?"

he replied brilliantly

"i can't play on two sides at the same time.

now, when i feel that the up theme is being played right now,

i will wait before i pick shorting opportunities!"

--

how right he is.

when market is going up

not only the good stocks rise in leaps and bounds

even the not-so-good stocks flow with the wave.

even outright bad stocks take advantage of the wind

and escape being hammered!

the overall bullish sentiment

prevents people from going short.

same is the case when overall market is trending down.

in that scenario

everyone is in selling mindset

and very few people are willing to be buyers.

so, it is wise to wait for going long in even good shares

till the overall negative sentiment and trend is there in the market!