June 1 pos div...5 min chart...

setting good SLs...

Being a beginner and believing in "reduce your losses, run your profits", i rush to do both - reduce losses and reduce profits also. Today's nifty was an example. I had a short from Friday around 5070 area. A wise man ( tradeinniftyonly.blogspot.com ) had told me that 5070-5090 was a good area to take a short.

May 30...s&p tech table...

For folks who have no idea what the tech table is, please visit an awesome site for Indian market technical analysis called "Just Nifty" ( http://tradeinniftyonly.blogspot.com/ ). Here there is documentation on how to use tech table. It is a bit complicated but an extremely good way to see trend changes, weakness/strength in any equity or index. Here I have tried to reproduce the same for S&P.

Easy gamble missed...Nifty...

When you draw trend lines, a beginner has to make it a habit to revisit it everyday. And if in doubt, take a smaller position and hedge with strict SLs. This is really easy. I still dont do it. Hope/Fear/Doubt - still in me, an absolute no-no for trading. The last runup was easy if one had done their homework and had a plan on May 25 trading. Why ? The lows joining Nov2009 and Feb2010 when extended goes exactly to 4780-4800 where Nifty bounced off on May 25/26. Could it have gone lower ? Ofcourse, hope is ur SL would have supported you.