- Trading is tough...Mentally exhausting...Emotionally draining....Reasearch and Analysis also takes a lot of time....In addition to that blogging takes even more out of you...Putting your own ideas out in public for everyone to see them and act on them...And probably even go wrong more than often puts a lot of pressure on you in case the readers of this blog did not know...
- Ideas are out here. Trades are not. Does anyone know how I trade? Do I go long without any cover? Do I hedge? Where do I hedge? What do I use to hedge? If its puts, what is the ratio to longs that should be maintained, whats the strike so that the portfolio is delta neutral? Am I making sense? What I am trying to say is I am NOT a financial advisor...This blog presents ideas..Unless someone understands the risk vs. reward, do not enter a trade. I get sad seeing suckers everywhere looking for 'calls'. I have said this before and will say it again - Do your due diligence...I read 100s of blogs and ideas from other...Why do I do it? To get ideas..Not trades..I will collate this information and try to see how I can use it in my analysis. Sometimes I find useful stuff...Sometimes not...But in the end my own ideas and chart reads will come through...So my sincere advice to all...Use this blog for ideas NOT for calls or trades...I dont want that on my concience. And also understand basic ideas of risk and money management. This is what will make you successful in the long run.
- Few days back a sucker commented in one of the posts below that I am consistently wrong and that Nifty is going to 1800...Remember he posted when it was at 2250...I knew we had a bottom in place there...That comment is still there for those interested to check it out...It was an anonymous comment but I wonder if that loser is still short 700 nifty points above. While I was not much bothered about his comment because I knew he was wrong about short term..Medium term still can go lower but then its all about playing odds...Right now its buy the dips vs. sell the rallies...And so keep buying the dips.
We also had another sucker on VFM saying that India and China is going to war he had RAW intelligence...And so on...Another sure indication of the bottom... :) Read that in case you missed it...It was one of the most hilarious posts on VFM. When nifty goes back down to test the lows, I am sure he will post again...Buy blindly then...lol.
Coming to markets...Charts and more detailed analysis will follow later but in short what I think is the current configuration is still buy the dips but something is still nagging in the back on my mind that we need 1 more low....Till then we might just chop chop. This low can be a higher low also but we need to see that when we get there...I cannot count the waves properly..It looks like one more 5th wave low is needed and we might remain in a complex 4th wave for some time. At the moment I am confused at how long this uptrend will last and if we will even get much of a selloff later. I will analyse some more in the next post.