“In many ways, large profits are even more insidious than large losses in terms of emotional destabilization. I think it’s important not to be emotionally attached to large profits. I’ve certainly made some of my worst trades after long periods of winning. When you’re on a big winning streak, there’s a temptation to think that you’re doing something special, which will allow you to continue to propel yourself upward. You start to think that you can afford to make shoddy decisions. You can imagine what happens next. As a general …

It is important to “follow what the market is currently doing as opposed to following what one might personally think the market should do.” As he said, “Every man has a right to his opinion, but no man has a right to be wrong in his facts.”

Bank Nifty

Bank Nifty has achvied its trendline target of 8120,by making a low of 8127.
Break of 8127 will threaten the break of  coveted 8000 level on Nifty.

Sell below 8120 Tgt 8000,7920 and 7825
Buy above 8172 Tgt 8240,8300 and 8375

 
Larsen Turbo
 

LT had a viscious fall …

Discipline is directly related to the bottom line of a trader’s account. The Professional Trader keeps a high focus on being disciplined and sticking to his system. He disciplines himself by constantly having the thought of making money and being positive at the end of the month in the forefront of his mind. This way he keeps himself from getting caught in the now emotional moment. He stays on the sidelines when the timing is wrong to enter a trade and always places stops while trading. He moves his stops …