Tuesday, May 15, 2012

8TH BINGO! ORCHID CHEM FUTURES REACHED OUR SECOND TARGET OF 130.40

TODAY WE RECOMMENDED TO BUY ORCHID CHEM FUTURES AT CMP OF 125 WITH A STOPLOSS OF 123 FOR A TARGET OF 128.80, 130.40 AND 131.80. OUR SECOND TARGET OF 130.40 ACHIEVED TODAY ITSELF. BINGO AGAIN!

7TH BINGO! CAIRN FUTURES REACHED OUR SECOND TARGET OF 317.40

TODAY WE RECOMMENDED TO BUY CAIRN FUTURES ABOVE 311 WITH A STOPLOSS OF 308 FOR A TARGET OF 314.80, 317.40 AND 319.80. OUR SECOND TARGET OF 317.40 ALMOST ACHIEVED TODAY ITSELF. BINGO AGAIN!

6TH BINGO! CAIRN FUTURES REACHED OUR FIRST TARGET OF 314.80

TODAY WE RECOMMENDED TO BUY CAIRN FUTURES ABOVE 311 WITH A STOPLOSS OF 308 FOR A TARGET OF 314.80, 317.40 AND 319.80. OUR FIRST TARGET OF 314.80 ACHIEVED TODAY ITSELF. BINGO AGAIN!

BUY CAIRN FUTURES ABOVE 311 WITH A STOPLOSS OF 308

WE RECOMMEND TO BUY CAIRN FUTURES ABOVE 311 WITH A STOPLOSS OF 308 FOR A TARGET OF 314.80, 317.40 AND 319.80.

BUY SHRIRAM TRANSPORT FUTURES AT CMP OF 511 WITH A STOPLOSS OF 498

WE RECOMMEND TO BUY SHRIRAM TRANSPORT FUTURES AT CMP OF 511 WITH A STOPLOSS OF 498 FOR A TARGET OF 523, 528 AND 533. HIGH RISK TRADERS CAN HOLD POSITIONS FOR A TARGET OF 533, 548 AND 563.

MARKET FRUSTRATION


This post is about the frustrations that market fluctuations generate for a trader and how to deal with them. My message is a simple one: be content with what is possible.
I have been in this business full time for nearly 30 years now. I have known many traders. The majority of them were only in the business a relatively brief time. Most of these left because they lost money but some left because, even thought they were making money trading, they couldn't stand the constant frustration traders experience.
Markets move up and down, sometimes quite violently. People tend to evaluate their trading performance not simply in terms of profit and loss but also in terms of how much money they could have made had they been able to catch a substantial part of most of the market's up and down swings. In fact, I have known profitable traders who were constantly frustrated and unhappy because they felt that they had left so much money on the table.
Put simply, this is crazy behavior. What basis do you have for thinking you can catch a substantial part of the market's many swings? Sure, in hindsight everything is obvious and we can see how we might have become gazillionaires.
But we cannot trade the past. We can only make profits betting on the future. And people who bet on future price fluctuations must necessarily rely on very, very cloudy crystal balls. So as a practical matter you should count yourself fortunate indeed if you consistently capture a small part of any given market swing.
What does this mean for you? It means that you should be focused on one thing and one thing only when evaluating your trading record.Have you been making consistent profits or not? Forget about how much you might have made - those sort of calculations are not in the realm of what's possible. What's possible is steady, month-by-month, quarter-by quarter profitability. Some people can achieve higher rates of return on their capital than others, but so what? Don't worry about what other people do. Focus only on what you can do based on your market knowledge and trading skills.
I had a friend who was a member of the Chicago Board of Trade and later a member of the Singapore exchange. He had a profit goal he aimed for each year. When he reached it he stopped trading for the rest of the year. It didn't matter whether it took him two months or six months or eleven months to reach his goal. When he reached it he stopped.
For him trading was just a way to make a good living, not a test of his value as a person or an affirmation that he was smarter than everyone else. This is an example of sane behavior in a business where various forms of insanity are the rule, not the exception.

5TH BINGO! SINTEX FUTURES REACHED OUR FIRST TARGET OF 56.80

TODAY WE RECOMMENDED TO BUY SINTEX  FUTURES AT CMP OF 55.25 WITH A STOPLOSS OF 54 FOR A TARGET OF 56.80, 57.40 AND 58.80. OUR FIRST TARGET OF 56.80 ACHIEVED TODAY ITSELF. BINGO AGAIN!

4TH BINGO! TTK PRESTIGE FUTURES REACHED OUR THIRD TARGET OF 3073

TODAY WE RECOMMENDED TO BUY TTK PRESTIGE FUTURES AT CMP OF 3010 WITH A STOPLOSS OF 2980 FOR A TARGET OF 3043, 3058 AND 3073. OUR THIRD TARGET OF 3073 ACHIEVED TODAY ITSELF. BINGO AGAIN!

3RD BINGO! TTK PRRESTIGE FUTURES REACHED OUR SECOND TARGET OF 3058

TODAY WE RECOMMENDED TO BUY TTK PRESTIGE FUTURES AT CMP OF 3010 WITH A STOPLOSS OF 2980 FOR A TARGET OF 3043, 3058 AND 3073. OUR SECOND TARGET OF 3058 ACHIEVED TODAY ITSELF. BINGO!

2ND BINGO! TTK PRESTIGE REACHED OUR FIRST TARGET OF 3043

TODAY WE RECOMMENDED TO BUY TTK PRESTIGE FUTURES AT CMP OF 3010 WITH A STOPLOSS OF 2980 FOR A TARGET OF 3043, 3058 AND 3073. OUR FIRST TARGET OF 3043 ACHIEVED TODAY ITSELF. BINGO!

1ST BINGO! ORCHID CHEM FUTURES REACHED OUR FIRST TARGET OF 128.80

TODAY WE RECOMMENDED TO BUY ORCHID CHEM FUTURES AT CMP OF 125 WITH A STOPLOSS OF 123 FOR A TARGET OF 128.80, 130.40 AND 131.80. OUR FIRST TARGET OF 128.80 ACHIEVED TODAY ITSELF. BINGO!

BUY SINTEX FUTURES AT CMP OF 55.25 WITH A STOPLOSS OF 54

WE RECOMMEND TO BUY SINTEX  FUTURES AT CMP OF 55.25 WITH A STOPLOSS OF 54 FOR A TARGET OF 56.80, 57.40 AND 58.80.

BUY TTK PRESTIGE FUTURES AT CMP OF 3010 WITH A STOPLOSS OF 2980

WE RECOMMEND TO BUY TTK PRESTIGE FUTURES AT CMP OF 3010 WITH A STOPLOSS OF 2980 FOR A TARGET OF 3043, 3058 AND 3073.

BUY ORCHID CHEM FUTURES AT CMP OF 125 WITH A STOPLOSS OF 123

WE RECOMMEND TO BUY ORCHID CHEM FUTURES AT CMP OF 125 WITH A STOPLOSS OF 123 FOR A TARGET OF 128.80, 130.40 AND 131.80.