The Holy Grail

Discussion in 'Words of Wisdom' started by intellibitz, Aug 1, 2011.

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The Holy Grail

  1. The Holy Grail DOES NOT EXIST

    76 vote(s)
    48.4%
  2. The Holy Grail EXISTS

    13 vote(s)
    8.3%
  3. The Holy Grail EXISTS AND I KNOW IT

    27 vote(s)
    17.2%
  4. The Holy Grail EXISTS AND I DON'T KNOW IT

    14 vote(s)
    8.9%
  5. Don't care

    27 vote(s)
    17.2%
  1. intellibitz

    intellibitz Well-Known Member

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  2. Debarghya Mukherjee

    Debarghya Mukherjee Well-Known Member

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    Rakesh jhunjhunwala also known as the Warren Buffet of India makes this type of comments. He made his fortune by the trade of SESA GOA. He made some very good profit using his value investment rules in Colgate, Titan etc. But he talks very tricky. It is hard to understand what he really mean to say.

    "I am positive on the market. It will come back. But not in short term. May be there will be some uplift movement in short term but to make money you need to keep patience." ----------- Rakesh jhunjhunwala

    In both ways Rakesh wins by this statement. You get my point right? :D


     
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  3. intellibitz

    intellibitz Well-Known Member

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  4. intellibitz

    intellibitz Well-Known Member

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    "The less I cared about whether or not I was wrong, the clearer things became, making it much easier to move in and out of positions, cutting my losses short to make myself mentally available to take the next opportunity."
    - Mark Douglas

    Taken from Sudoku thread, Thanks Sudoku.

    Cutting Losses Short - for when you let go of your losers quickly, you open up the doors for the next big opportunity.

    Thanks Mark Douglas for the quote.
     
  5. intellibitz

    intellibitz Well-Known Member

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    Let me draw an analogy with the "trading-world" -

    I'm sure you know that there are plenty of traders who think that there's some perfect "system" that they can develop which'll always yield them huge profits right, left & center but they ignore the FUNDAMENTAL ISSUE i.e. that the biggest & most important variable for success is the trader HIMSELF/HERSELF..........

    Thanks Newbie Day-Trader for the quote.
     
  6. intellibitz

    intellibitz Well-Known Member

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    http://www.webtrading.com/phantom/preface.htm

    Phantom of the Pits
    by Art Simpson

    Rule 1:
    IN A LOSING GAME SUCH AS TRADING, WE SHALL START AGAINST THE MAJORITY AND ASSUME - WE ARE WRONG UNTIL PROVEN CORRECT! (We do not assume we are correct until proven wrong.) POSITIONS ESTABLISHED MUST BE REDUCED AND REMOVED UNTIL OR UNLESS THE MARKET PROVES THE POSITION CORRECT! (We allow the market to verify correct positions.)

    Rule 2:
    PRESS YOUR WINNERS CORRECTLY WITHOUT EXCEPTION.

    Rule 3:
    WE SHALL GO AGAINST THE MAJORITY AND ASSUME THAT THE MARKET IS NOT ALWAYS CORRECT (those times being when liquidity is poor.) AT THOSE TIMES WE SHALL QUESTION ALL SIGNALS AND WAIT FUTURE SIGNALS IN THOSE CASES FOR POSITIONING.

    WE SHALL USE THE CONVERSE OF POOR LIQUIDITY AND REMOVE OUR EXISTING POSITIONS WHEN EXTREME LIQUIDITY TAKES PLACE IN TWO STEPS AND WITHIN 3 DAYS OF EXTREME HIGH VOLUME. HALF OF OUR POSITION SHALL BE REMOVED IMMEDIATELY THE FOLLOWING DAY AFTER AN EXTREME HIGH VOLUME DAY. THE OTHER HALF OF OUR EXISTING POSITIONS SHALL BE REMOVED WITHIN TWO ADDITIONAL DAYS. WE SHALL WAIT FURTHER SIGNALS IN THOSE CASES FOR FUTURE POSITIONING.
     

  7. SB2000

    SB2000 Member

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    "The Holy Grail" itself is a concept and a subject of belief. Any trading style done with self belief (and not blind faith) along with practical approach towards the instrument's concept and movement is a "Holy Grail", and it does exists. Howevere, the person must be smart enough to keep the fundamentals of the "grail intact and give his/her approach a little bit of tweak to counter the ever-changing dynamics of the market.
     
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  8. intellibitz

    intellibitz Well-Known Member

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    Brains & Eyes

    Interesting discussion here:
    http://www.traderji.com/beginners-guide/39632-come-into-traders-den-19.html
     
  9. intellibitz

    intellibitz Well-Known Member

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    Tossing a Coin

    http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading.html#post522519
     
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  10. intellibitz

    intellibitz Well-Known Member

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    My dear Nina: Cant help it. Things have been bad with me. I am tired of fighting. Cant carry on any longer. This is the only way out. I am unworthy of your love. I am a failure. I am truly sorry, but this is the only way out for me. Love Laurie

    RIP.

    Jesse Lauriston Livermore

    Born July 26, 1877 Shrewsbury, Massachusetts
    Died November 28, 1940 (aged 63)
    Cause of death Suicide
    Occupation Stock trader
    Net worth US$100 million (1929); US$5 million (1940)

    Jesse Lauriston Livermore (July 26, 1877 November 28, 1940), also known as the Boy Plunger[1] and "Great Bear of Wall Street", was an early 20th century stock trader. He was famed for making and losing several multi-million dollar fortunes and short selling during the stock market crashes in 1907 and 1929.


    http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore
     
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