New Intermed Uptrend!!
- Thread starter Saint
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Only a miracle it seems can minimize the losses in very short term. (though everyday market is taking the reverse route)
i am expecting the market to come down to 10000 (with a few up and down)in a months time. Tisco can be more volatile than that of other scrips because its commodity which has affected market mindset worldwide. the only guaranteed solution is to hold for the long term to come out with profits.
I myself have lost big money today, but dont see any light in very short term.
the market has to correct by 25 30%
i am expecting the market to come down to 10000 (with a few up and down)in a months time. Tisco can be more volatile than that of other scrips because its commodity which has affected market mindset worldwide. the only guaranteed solution is to hold for the long term to come out with profits.
I myself have lost big money today, but dont see any light in very short term.
the market has to correct by 25 30%
Hi Anupam,
Let us analyse your abovementioned post......
You bought TISCO on Friday at 636:No harm in it,TISCO was in a strong bullish move till Friday.Here comes mistake no 1.......every trade has to have a predetermined stop loss,by that we mean that a stop has to be in place at the time you are entering the order.The stop loss has to be written down as that point after which you will take no more nonsense.Mistake 1=No stop loss ready.
What should the stop price be,it has fallen to 545 today:Not adding to the agony,but think it closed in the 533 region.You have sustained a 100rs fall,which is 16% from your entry.Please,please,my friend.........a stop price should have been kept ready before all this had to happen.A technical stop loss was at 601-6=595
I'm very depressed at it....... i want 2 sell it at minimal loss:That's not up to us,once you let the stop blow through,now can only minimise the damage as much as possible.We may have a big rally tomorrow,or a further collapse.Once you don't take your stops,then life gets very complicated,my friend.
I cannot make TISCO go higher tomorrow,neither can I assure you that you will get out with minimal losses.But all I can tell you is that we have all at some time or the other gone through what you are going through today.Better now than later.Take this loss as tuition money to the Tuition teacher called MARKET.
I hope that,out of this pain and desperation,will be born a new student of the mkt who puts this episode behind him as one of those things,and go on to become a successful trader.
Wishing you all the best!
Saint
Let us analyse your abovementioned post......
You bought TISCO on Friday at 636:No harm in it,TISCO was in a strong bullish move till Friday.Here comes mistake no 1.......every trade has to have a predetermined stop loss,by that we mean that a stop has to be in place at the time you are entering the order.The stop loss has to be written down as that point after which you will take no more nonsense.Mistake 1=No stop loss ready.
What should the stop price be,it has fallen to 545 today:Not adding to the agony,but think it closed in the 533 region.You have sustained a 100rs fall,which is 16% from your entry.Please,please,my friend.........a stop price should have been kept ready before all this had to happen.A technical stop loss was at 601-6=595
I'm very depressed at it....... i want 2 sell it at minimal loss:That's not up to us,once you let the stop blow through,now can only minimise the damage as much as possible.We may have a big rally tomorrow,or a further collapse.Once you don't take your stops,then life gets very complicated,my friend.
I cannot make TISCO go higher tomorrow,neither can I assure you that you will get out with minimal losses.But all I can tell you is that we have all at some time or the other gone through what you are going through today.Better now than later.Take this loss as tuition money to the Tuition teacher called MARKET.
I hope that,out of this pain and desperation,will be born a new student of the mkt who puts this episode behind him as one of those things,and go on to become a successful trader.
Wishing you all the best!
Saint
Excellently said Saint. Me too has suffered like my friend anupam (bought little SatyamComp at 821 and still holding!!!). I have learnt about the stoploss and its advantages from various seniors here and was really convinced. Still ......you know what.... We always have some or other excuse not to do things in the right way. I am putting aside all of them and have really learnt a lesson or two from this market. For now I will take the stoploss very seriously. Thanks for your wonderful advise.
Regards
chachi
Regards
chachi
wow chachi..you really are quite brave...
However i have a different story with this one.
I too had entered this one @ 826 and i guess on the same eventful day when it falled from 900+ to 802
. I got rid of it when it touched 800 and then again came back to 760. The tension was too much for me. This satyam again attracted after two days of my selling when it came to 710 level and I am in. so I still have the same number of shares but at a lower price and have covered some of the loss assuiming I sold at 756 and bought at 708.
I think i got lucky, but the situation we are in, its better to be in cash these days. whats say seniors.
Regards
Coool
However i have a different story with this one.
I too had entered this one @ 826 and i guess on the same eventful day when it falled from 900+ to 802
. I got rid of it when it touched 800 and then again came back to 760. The tension was too much for me. This satyam again attracted after two days of my selling when it came to 710 level and I am in. so I still have the same number of shares but at a lower price and have covered some of the loss assuiming I sold at 756 and bought at 708.I think i got lucky, but the situation we are in, its better to be in cash these days. whats say seniors.
Regards
Coool
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