A broker friend says :
"client asking su levu joiye i said Bhagvan nu name"
— AP (@ap_pune) May 6, 2015
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Saheb,Biwi Aur…
Source:Steve Burns
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How to improve results instantly
One way to improve results instantly: Stop trying to buy what looks on sale and buy what the pros want . Read that 20 times!!
- @DanZanger
— Steve Burns (@SJosephBurns) May 2, 2015
The guest post below has been written by Haresh Nagpal. Haresh has more than 20 years of experience in the Indian Financial Markets and is very well respected in the financial community.
His Notes of the Traders Carnival 2015 Conference-Day 1 can be obtained from here
On Second Day, the First Session was by Naveen Swamy (nick name “speculator”), a full time trader and true mentor to many.
The session was on soft skills of trading like money management ,position sizing ,compounding and many more.
According to him, traders are High IQ society with Low EQ.Long Term Endeavor of trading is consistency ,sustainability and being Happy .He also told how to evolve as a trader.
Key Learning :
- Trading loss is result of your trading systems and your own psychology
- Trading Requires least amount of intelligence.
Next Session was by Mahesh Bharat Singh on Mind Games -Cognitive Dissonance .It was quite a interesting session .
In psychology, cognitive dissonance is the mental stress or discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time, or is confronted by new information that conflicts with existing beliefs, ideas, or values. This is what traders experience day in and day out .In the end he told the ways to overcome this.
Third Session was by Prashant Shah) on Point and Figures chart , the oldest charting method .He explained Point and Figure charting in detail in 3 hour session along with various patterns like double top buy , double bottom sell & High and low poles.He also told how p & s charts can be used for targets.
Some of the patterns he explained was:
Long Entry Patterns :
- Double Top Buy above 10 C SMA
- Double Top Buy after Low Pole
Long Exit Patterns :
- Double Bottom Sell
- High Pole
For shorts it is just the opposite.
Key learning :
45 degree trend line demarcate the line at which price is considered to be in bull or bear trend.
Next Session of the day was by Rishi Umrania on Market Profile ,the most “in” thing in Technical Analysis now days .Rishi broke down Market Profile for all of us .
Rishi uses software named Market Delta for Market Profile.He told various patterns in Market profile and how it be combined with other indicators to get best results.At the end, he explained about Order Flow and how that can benefit the traders.
