This post, I dedicate to my first guide in Technical Analysis -- Balu @ Winwath (Wave Rider) with whom I took full liberty while learning the baby steps ---
The headline of this post doesnot mean that I take markets as Betting Place --
But still prefer using the term "risk-assumption" whenever I enter a trade.
What does that mean ?
Markets at all times are random-- particularly for retail trader. as all of them,irrespective of their long or short positions,are dependent on someone else -- market makers,Institutions,liquidity managers,warehousing dealers or call them Operators --- to move the market for them. That means there are market participants who do move prices. And as they move the markets for their benefit, the most prudent thing is to find out on which side they are.
So ultimately, all chart reading ,market/volume profiling, Open Interest, Money-flow studies have one aim : to find out what the Majors are doing?
And what the Majors are going to do???
Can any Elliot/Gann/Astro say what the Majors will do three months from now??
Why for some stocks the 3rd or 5th extended wave seems never ending while for others the corrective abc-x-abc-x-abc -- keeps prolonging??
"Lobhiyon ke shehar mein , thug bhooke nahi marte--- "
( In the city of greedy people, thugs will have a good business) !!!
Every day I get to meet someone who will tell me that for every TVS Motors they have two GVK/Lanco and for every Cipla they have two JP Asso in their portfolio.
Why in the Modi-Raj Infra Companies keep lagging behind, despite big hopes of this sectors development??
Stock markets have been famously called as " more about capitalizing on dumb people than about investing in good companies."
As I started interaction with my first group of students , I noticed one undercurrent --- they wanted to apply the trading principles used in 5min/Hourly/Daily combo to Hourly/Daily/Weekly or Daily/Weekly/Monthly ---
And it is taking quite a while to drive home the point that in markets where one does not know whether an Extended wave would do 1.62 or 3.62 or a corrective will do one or more combos ---- talking long term does not make sense to me. To those who wish to point out one Infy, I can name ten Silverlines.
I wd end this post with the words of my good friend Govind Bhagwat :
"------ then look for the opportunity given by the market....grab it and run...mainly, hit & run as many times as possible than a long drawn battle"
The headline of this post doesnot mean that I take markets as Betting Place --
But still prefer using the term "risk-assumption" whenever I enter a trade.
What does that mean ?
Markets at all times are random-- particularly for retail trader. as all of them,irrespective of their long or short positions,are dependent on someone else -- market makers,Institutions,liquidity managers,warehousing dealers or call them Operators --- to move the market for them. That means there are market participants who do move prices. And as they move the markets for their benefit, the most prudent thing is to find out on which side they are.
So ultimately, all chart reading ,market/volume profiling, Open Interest, Money-flow studies have one aim : to find out what the Majors are doing?
And what the Majors are going to do???
Can any Elliot/Gann/Astro say what the Majors will do three months from now??
Why for some stocks the 3rd or 5th extended wave seems never ending while for others the corrective abc-x-abc-x-abc -- keeps prolonging??
"Lobhiyon ke shehar mein , thug bhooke nahi marte--- "
( In the city of greedy people, thugs will have a good business) !!!
Every day I get to meet someone who will tell me that for every TVS Motors they have two GVK/Lanco and for every Cipla they have two JP Asso in their portfolio.
Why in the Modi-Raj Infra Companies keep lagging behind, despite big hopes of this sectors development??
Stock markets have been famously called as " more about capitalizing on dumb people than about investing in good companies."
As I started interaction with my first group of students , I noticed one undercurrent --- they wanted to apply the trading principles used in 5min/Hourly/Daily combo to Hourly/Daily/Weekly or Daily/Weekly/Monthly ---
And it is taking quite a while to drive home the point that in markets where one does not know whether an Extended wave would do 1.62 or 3.62 or a corrective will do one or more combos ---- talking long term does not make sense to me. To those who wish to point out one Infy, I can name ten Silverlines.
I wd end this post with the words of my good friend Govind Bhagwat :
"------ then look for the opportunity given by the market....grab it and run...mainly, hit & run as many times as possible than a long drawn battle"
Had made my fortune in long term bets, basically investments. Selection should be based on good management & leader in own category, eg., ITC, MRF, castrol
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