General Trading Chat

[sridhga]

Just out of curiosity do you also have Berkshire Hathway in your portfolio !!

No I don't. I now don't have an active US trading account. About 15 years ago I did invest in US stocks but my success was not that great.
I remember I invested in Ford Motor Co. That was a dud.
Then I invested in Johnson and Johnson. That was profitable.
I finally was sitting in the USA and researching on Indian stocks during night time. That is how I built my database on 350 Indian companies. I relocated to India and just am interested in Indian Markets. This itself consumes lot of time.
Just not worth the diversification. I believe that diversification is moving out of your core competence to that of incompetence.

 

[Smart_trade]

That was my first book on Warren Buffett. But what I consider ultimate is his annual letters to shareholders.

No I don't. I now don't have an active US trading account. About 15 years ago I did invest in US stocks but my success was not that great.
I remember I invested in Ford Motor Co. That was a dud.
Then I invested in Johnson and Johnson. That was profitable.
I finally was sitting in the USA and researching on Indian stocks during night time. That is how I built my database on 350 Indian companies. I relocated to India and just am interested in Indian Markets. This itself consumes lot of time.
Just not worth the diversification. I believe that diversification is moving out of your core competence to that of incompetence.

World’s most successful and largest investors are single stock investors,the only exception being Warren Buffet.These are the Company founders like NR Narayan Murthy,Bill Gates,Jack Ma,Mark Zukerberg,Jeff Bezoz....our own Mukesh Ambani,Azim Premji....


Smart_trade

 

[sridhga]

One important update: Now I dont own VST shares. Not that they dont qualify as investments, but because my wife did not like my making money from cigarette investments. I once gave her a proxy form so that she can attend VST AGM in Hyderabad. I am from a deeply religious family. Then I regretted investing in tobacco business. I went to Saraswati Mata temple in Basar Village near Hyderabad and confessed in front of Godess Saraswati that I have profited by causing ill-health to others and I came back and sold what ever VST shares I had that day. I believe in ethical investing. I don't invest now in Tobacco, Alcohol, Meat selling businesses, companies that are generally unethical, companies that dont care for consumers and environment, fast food companies, companies with predatory lending practices etc. Money comes and goes. I believe Saraswati Maa's blessings are more important. Then everything falls in place.

Still I will post the thread that Smart_trade requested. That is about investing principles.

 

[niftytaurus]

Dear St Da & Other pivot point traders
Please suggest how to trade in intraday moves, where Mph/mpl is not formed & price gives a straight decline big move without making any MPL/MPH?
example , in morning, today in NIFTY FUTURE, visual trend was down, so we need to trade short side..in morning move, there is no MPH/MPL till 10:30 & 1-1:30 move has also no mph/mpl in 3 min TF..in afternoon, it just Broke LOD(vpl) & then shor entry came..
so please all of you suggest, how to trade those rally & declines which doesnt give any mph/mpl even after a long move..?
thanks

 

[timepass]

Dear St Da & Other pivot point traders
Please suggest how to trade in intraday moves, where Mph/mpl is not formed & price gives a straight decline big move without making any MPL/MPH?
example , in morning, today in NIFTY FUTURE, visual trend was down, so we need to trade short side..in morning move, there is no MPH/MPL till 10:30 & 1-1:30 move has also no mph/mpl in 3 min TF..in afternoon, it just Broke LOD(vpl) & then shor entry came..
so please all of you suggest, how to trade those rally & declines which doesnt give any mph/mpl even after a long move..?
thanks

What's your time frame ?

Anyway, for intraday, if no signal, then no trade.

 

[niftytaurus]

hi
my TF is 3 min TF..

 

[timepass]

hi
my TF is 3 min TF..

If your scrips are liquid enough, you are likely to get a lot of whipsaws.

But you can combine the candles with some moving averages (e.g. EMA 8 and 21) and base your buy/sell on a touch of these or a close above/below 21

 

[Smart_trade]

Dear St Da & Other pivot point traders
Please suggest how to trade in intraday moves, where Mph/mpl is not formed & price gives a straight decline big move without making any MPL/MPH?
example , in morning, today in NIFTY FUTURE, visual trend was down, so we need to trade short side..in morning move, there is no MPH/MPL till 10:30 & 1-1:30 move has also no mph/mpl in 3 min TF..in afternoon, it just Broke LOD(vpl) & then shor entry came..
so please all of you suggest, how to trade those rally & declines which doesnt give any mph/mpl even after a long move..?
thanks

Most people here have not understood the pivot method correctly with all its rules and nuances and the reasons behind every rule....pivot method does not say that wait for new pivots to form every day and then start trading....in fact today we were already in the downtrend, we opened gap down and the first bar was red...in such a case pivot method sells the low of the first bar, it is clearly mentioned in the method.It is a textbook case of opening a short trade.We use small green inside bar also to initiate sell...

There were few more points where one could sell....then at 1:00-1:20 when after a rally and a lower top market started selling off, there were many places where one could go short.....in such markets we should not be looking for reasons not to trade but we should be looking for reasons to trade and go short when the odds are on our side, with small stoploss....we were already in visual downtrend with lower tops formed so look for a mpl to go short.

Smart_trade

 

[Smart_trade]

 

[Smart_trade]

Now the market is showing "fast and furious " downmove as expected.....

Smart_trade