dear friends, i want to share a very important thing....a learning for me...a lesson.....
here is it...
someone might recall that on 2nd feb i was still long (around 7550spot) as i had not got the down rally signal and the rally, as per me, was 95% approx done)......
just then the market fell sharply around 100 points and i had to forego some of the profit of the remaining long lots
at that time, i prematurely (under pressure and shaken by the sudden fall) turned short at around 7400 approx...
at that time anyone could have said that i missed the meat of the downfall (more than 100 points missed!)......even i, for once thought that way.....
but i found the downside rally signal only above 7400 and added shorts at 7475 spot.....
despite losing heart at missing that 100 plus point drop on 2nd.....i still garnered 500plus points in next 4 days in the subsequent rally......
my point is, that despite a big adverse shock of some 100-150 points, still i won the game for myself......thereby giving me the lesson that just because u have lost seemingly big thing doesn't mean nothing is left.....in the larger picture that big thing may be quite small.....be in the game.....
lemme illustrate with two self explanatory graphs
this is what the situation looked like after 2nd evening......it was natural to feel damn bad and lose heart.......
ashokji: That is were I got confused Js ji..I was long too...turning back to 7475 was deceptive......
Js: and this what it looks like today EoD
moral and lesson of the story.....if u stay at the wicket and overcome a close call.....u can still hit a century or double......
when u r worried at a situation, always remember u will be pleasantly shocked from a distant view/angle.....
had i refused to short after that nasty fall of 2nd feb, thinking that meat of the fall is over and i have missed it, gues what would have i missed!!!
this is one of the reason why i shorted near closing today as well after i found myself left with just 1 bullet in my revolver.....with battle just less than half over
who knows what the graph may look like in 1-2 days!!!
sonti: Js ji, tomorrow also gap down?
Js: don't know.....but what if it does? "am i placed right for it" was the question before me.....when i know that the rally is far from over, i am assured that i will get back my today's bet within a few days even if it were to shoot up tomorrow.......when it is draw-win situation, why shouldn't a trader take that sitter!!!
sgx is already indicating 6918......
it may or may not sustain....but that is not the point....the point is buying a heater in mid summer may look cool but is not positive trading.......
operators are mavericks and only maverick traders can be spared the bullet....self talk
and trader masses are still not crying....and begging will still be left....
1022: श्री जगमोहनजी , कितने सुन्दर ढंग और तर्क के साथ आपने बात को रखा है। जो कि एकदम सही है। एक 100 पॉइंट की गलती 500 पॉइंट का सही कदम दिखा सकती है। गज़ब
Js: शुक्रिया विष्णु जी....
william % r is not down but buried!!! it will need some external help to come out before standing!!!
any extreme value of rsi, william is not a natural rebound especially when it is in that value range since some time.....
: 90% plus william that too pro-trend is a falling sword (not just a falling knife).....
: besides william is a dog alone...and with rsi it becomes a wolf.......
: look at rsi on 1 month chart...it is 2.18
: that's hell....from where it takes time to return
: as is often said.....most of the rallies happen in oversold and overbought zone.....
: sgx is now recovering.....but that's again not the point...morning is another day
: everyone knows that rebound is around the corner....and that's precisely the reason why it is not...imo
: it's a GAME!!!
: it will rebound....but without the majority......
: treachery is the word...
: operators are extremists....no extremes are too much for them.....
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