iCharts Discussions

[ridinghood]

thnx pg for the update


regs

ridinghood

[pradeepgolfer]

seshareddy
It is not important to be correct ;what is important is to be on correct side of market.A traders aim should not be to show how smart he is;he should make money consistently.
Making money in countertrend trades is possible and traders do this to show how smart they are.However, when market is countertrend,it will take a long time to move a small distance so the risk is not worth it.Good traders go with the trend because the fast moves are in that direction and that is where the fast money is.Bad traders go with their ego and countertrend and their money goes fast.

You should also be very clear about the timeframe and since I am discussing a weekly chart my analysis is valid for a positional trader willing to stay in the position for a minimum of of four weeks and up to months.I have recommended a hold for those who have read my earlier posts and went positionally long.I have been right practically and theoretically and I mentioned on 30 July that 5300 will not break http://www.icharts.in/forum/5300-will-not-break-5600-will-break-upside-t2595.html.

Since 30 July I have been bullish and correctly so but that does not mean bears would not have made money trading short term countertrend rallies.But the big easy money is in buying dips when trend is up.

The operators have spent considerable money to take the nifty up and in doing so they have trapped the bears in and the bulls out (of this rally)-both will be forced to buy at higher levels.So the big dips will not be allowed to happen.If not why did they take it up in the first place?

[seshareddy]

hi pradeep

iam not tried to correct the tech which you said i too agree with you i just gone opp to you about one word that is suicide which you mentioned in my text pl c carefully i told that i too going pos longs from so and so area i didnt told iam in pos shorts every msg may come one counter try to take it as easy i may b wrong also in shorting if iam not wrong what to do if iam wrong what to do that is the way to develop our tech

i really likes this type eduction to others iam the 1st person to do this

i think you are not hurted

bye

[chrome]

Hi all,

just continuing a healthy discussion....nifty @ 5500 now....where do one see nifty levels around the last day of this year ?? Just a healthy discussion on positional trades

[pradeepgolfer]

Sesha
Thank you for appreciating my post.

[pradeepgolfer]

Chrome
Thank you for initiating a discussion on a subject which will interest all traders.
The whole pupose of this thread is to keep traders posted on the weekly developments so that week by week the health of the uptrend in nifty is ascertained.As long as the health continues to be good there is no worry for positional longs.If the health deteriorates then action must be taken.

To know where the nifty would be at end of the year,at this time, is not neccessay, to make money.

Just for fun, I would put a figure of 6235.

[chrome]

[ridinghood]

pg
thnx nd pl let us know if there is any revision in ur stoploss for the nifty positional long trade.
regs
ridinghood

[pradeepgolfer]

ridinghood

I think let everything be the same-nifty trend is up and there is no weakness at all.I do not think there will be a fall of more than 50 points and 5489 has become support.
Even though dow was down it was off the lows.
6000 will be reached in about 10 weeks time.

Just relax and enjoy the ride.

[ridinghood]

thnx pg