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Sunday, 8 July 2012

Trading strategies for 9th July 2012


What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play.  There is the plain fool, who does the wrong thing at all times everywhere, but there is also the Wall Street fool, who thinks he must trade all the time.  No man can have adequate reasons for buying or selling stocks daily – or sufficient knowledge to make his play an intelligent play.
It happened just as I figured.  The traders hammered the stocks in which they figured would uncover the most stops, and sure enough, prices slid off.
For one thing, the automatic closing out of your trade when the margin reached the exhaustion point was the best kind of stop-loss order. 
The game taught me the game.  And it didn’t spare me rod while teaching. 
If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money.  And I am only right when I make money.  That is speculating.
-On Friday ,It went upto 5340 & Made low of 5297 (Just 43 points move with very low volumes )
-Last close :5327.50
NOW WHAT TO EXPECT?
Below 5338 level ,Watch slide upto 5289—-5273 level in Panic !
(7DEMA @ 5288 )
Hurdle at 5347—-5366 & our Ultimate Target of Pennant Breakout @ 5375.
-Tomorow we can see Unexpected level in Nifty Future !!
Trend Followers——-Swing Traders ,Just watch :5345—-5394 levels very Closely.Three Consecutive close above 5394+Weekly close will take to 5542-5600 level !!



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