The losing traders have unrealistic expectations about the kind of profits they can make, typically shooting too high. They also debate with themselves before taking a trade, and even dwell on a trade well after it’s closed out. But the one big thing Williams noticed about this group was that they paid little attention to money management (i.e. defense).And the winners? This group has an intense focus on money management, and will voluntarily exit a trade if it’s not moving – even if it’s not losing money at that time! …

When you put too much of your ego on the line with your money, you may feel great when you win, but on the other hand, you may feel discouraged when you lose. When you allow your ego to enter your trading, you put subtle pressure on yourself to succeed. This added pressure could compel you to make dumb mistakes like holding on to losing trades to avoid hurting your ego. It’s better in the end to take a professional approach to trading marked by objectivity and rationality. Sure, it …

Bank Nifty
Bank Nifty has been trading 10900-10350. Break of 10285 will start the gap filling process.

Sell below 10345 Tgt 10285,10215 and 10170
Buy above 10525 Tgt 10595,10625 and 10699
 
ICICI Bank
ICICI bank forming a rising wedge pattern.

Sell below 910 Tgt 900,891 and 884
Buy above 928 Tgt 936,944 and 954
 
Pantaloons
Facing resistance at its 50 SMA,No news on FDI in multi brand retail

Sell below 154 Tgt 150.4,145 and 142
Buy above 159.2 Tgt 164.2,168 and 171

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Winning disrupts the trader’s emotions as much as losing – We are disrupted when we experience events outside our expectation. The method that is 60% accurate will experience four consecutive winners about 13% of the time. Traders are just as susceptible to overconfidence during profitable runs as under confidence during strings of losers.

Bank Nifty
Bank Nifty has faced resistance at its trendline at 10331 as discussed yesterday.Failure to break the resistance line can lead to topping out formation. Shorts shall be taken with Sl of 10339

Buy above 10339 Tgt 10409,10486 and …

Rule One of the professional trader is: When a stock doesn’t do what you expect it to do, sell it. No hesitating, no questions or doubts raised no conjectures of the way it should have turned out, or might still turn out, no dreams of how it will do what it was supposed to do ‚tomorrow’. The pro never says, ‚I’ll watch it one more day’. He doesn’t phone an analyst who’s been following the company and ask, ‚What’s happening? Is there any news?’ All too often , the delay …

Winning Trader’s Traits

Calm,Disciplined,Confident,Organized,Excellent recordkeeping,Business like approach,Professional demeanor

 
Losing Trader’s Traits

Emotional,Undisciplined,Anxious,Disorganized,No recordkeeping,Wants action & excitement,Amateur demeanor

Now you decide which Traits you are having and which one you need to develop.
 
Bank Nifty

Bank Nifty after long time will see green uptick on the screen with 7711 saved for the time being. As shown in above chart 7711 is very important long tern support for bank nifty and not breaking this shows that a rally is offing in abk nifty.

Buy above 7962 Tgt 8037 and 8113

 
Bharti Airtel
 
Bharti Airtel is trading in a channel and is …

A professional trader isolates himself from the herd and has trained himself to become a predator rather than a victim. He understands and recognizes principles that drive the markets and refuses to be mislead by good or bad news, tips, advice, brokers advice and well meaning friends. When the market is being shaken-out on bad news he is in there buying. When the Herd is buying and the news is good he is looking to sell.
 
 
Bank Nifty
Bank Nifty Weekly charts are shown above.BN rose 8% last week.BN is now at …