General Trading Chat

[Snake.Head]

http://www.moneylife.in/article/tax...ales-clarified-will-help-taxpayers/45689.html
What above circular means for us as daytrader ?

 

[VaibhavPRO]

Just saw Vaibhav thanking a post...he has good undertanding of DeMark Sequential and Combo systems.

Hello Vaibhav...

Smart_trade

Just sent you a PM da.

 

[durgesh]

Nifty might put in a top on Monday . It has taken the helicopter up to 7550-7600 and then may jump out for skydiving forgetting the parachute .

Newton's Law of Motion :
Every action has an equal and opposite reaction.

Enjoy while the action is on but don't forget the reaction is waiting behind too.

 

[arsh22g]

Close above 7450 would trigger algos for short covering further - taking us higher to 7600 levels

Why specifically 7450?

 

[Fundootrader]

Last 3 days people looking for resistances, level from the market will reverse...living in denial,buying puts, shorting and getting stopped out more intelligent variety calling tops made in every 20 points dip and the market continues putting up 80-100 points every day....

Traders who just followed the markets in downmove and now upmove are making money.For them there is no need to understand why it is going up, how far it will go ,when it will reverse etc

Smart_trade

Following the market where it goes requires extensive experience. It's more psychological - undoing that markets can do anything - not just stopping everytime at support/resistance

But when one gets started in trading - even for mid level traders - you end up burning yourself badly by just following the markets - by not managing the volatility - and then it's the fear in unconsicous mind that starts kicking in these beliefs' - isse upper nahi jaa sakti market - let me buy puts/short sell

Question - How does a swing trader manage gap up/down - let's assume your system gave you strong signal yesterday before EOD - and you went short and today markets gap up 100+ points - all the Money Management would go for toss : 7500 loss on 1.5 to 2L/lot --> 3.5%-4% loss --> How does one tackle those situations - Book loss - respecting the market at open - as one can't assume ki market will respect support/resistence - right

 

[vijkris]

Nifty might put in a top on Monday . It has taken the helicopter up to 7550-7600 and then may jump out for skydiving forgetting the parachute .

Newton's Law of Motion :
Every action has an equal and opposite reaction.

Enjoy while the action is on but don't forget the reaction is waiting behind too.

just for info , Monday is holiday for shivratri.

 

[Fundootrader]

http://www.moneylife.in/article/tax...ales-clarified-will-help-taxpayers/45689.html
What above circular means for us as daytrader ?

As day trader you can define your income type- business or investment. If you are salaried, you can define as investment and if full time as business

Earlier also you were able to do so - but taxman had final say - now the final say is in your hand

 

[durgesh]

just for info , Monday is holiday for shivratri.

Thanks for telling me that . Then let's make it Tuesday.

 

[vijkris]

Thanks for telling me that . Then let's make it Tuesday.

so, its an extended weekend, can expect partial profit booking from swing traders( ST sir et al ) tomo.

 

[Fundootrader]

Another observation in OI Chain@7468 (Don't ask for what it means - I don't know)