Turning greed into fear

[kausty]

I have realised during trading, most daytraders let thier loss positions run till it hits a amount of loss which they can no longer take. The greed of "maybe" the market will turn and they can decrease thier loss leads to a position of larger loss.
The trader who can turn this greed into fear is the most successful trader. Easier said than done ? Not really ! If one can just be disciplined enough to set a stop loss for every trade, he should get scared once the stop loss is hit. Also, if there is a predetermined stop loss for every trade, then the emotion goes out of the trade and so does greed.
Therefore, in my blog (Sensex Phatka), I give the buying and selling prices for the top 10 sensex stocks every day in the evening for the next day. If trades are entered at these prices, there is a good chance that the trade should end in profits. Also, for each buying or selling price there is a predetermined stop loss level too. If interested, you can have a look and we can discuss more.
About turning fear into greed, next time !

 

[the hare]

most daytraders let thier loss positions run till it hits a amount of loss which they can no longer take.

how exactly do you know that ? and just where exactly are you getting this information from ?

I suspect you are talking nonsense, or making some very big assumptions.

 

[kausty]

how exactly do you know that ? and just where exactly are you getting this information from ?

I suspect you are talking nonsense, or making some very big assumptions.

Well, the forex markets attract 150,000 new traders every day (and that is statistics). How many survive after a few months.....only hunderds. Why do all these traders leave the market......they dont control thier losses.

 

[Pazienza]

Well, the forex markets attract 150,000 new traders every day (and that is statistics). How many survive after a few months.....only hunderds. Why do all these traders leave the market......they dont control thier losses.

Love it.

 

[kausty]

Instead of just laughing & criticising, why not check the blog and see the performance.
The price points to trade for Monday is already put up !!

 

[the hare]

Well, the forex markets attract 150,000 new traders every day (and that is statistics).

150 thousand new traders a day works out at what, about 54 million people a year off the top of my head, which is a damned site more than the adult population of the united kingdom !

Amongst my group of friends, apart from a few who've been given shares, there's only one who dabbles in spread betting. So where are are all these traders ? cos I dont see em

T2W (probably the most popular trading site in the world) only managed to get 200 thousand traders over a 10 year period (and most of them dont trade)

Who are these people trading with. Customer numbers and transaction volumes are publically available for the larger retail brokerages (many of whom dont have 150,000 customers in total, so who are they trading with ?)

I supect you couldnt actually cite a reference for that statistic.

 

[Pazienza]

150 thousand new traders a day works out at what, about 54 million people a year off the top of my head, which is a damned site more than the adult population of the united kingdom !

Amongst my group of friends, apart from a few who've been given shares, there's only one who dabbles in spread betting. So where are are all these traders ? cos I dont see em

T2W (probably the most popular trading site in the world) only managed to get 200 thousand traders over a 10 year period (and most of them dont trade)

Who are these people trading with. Customer numbers and transaction volumes are publically available for the larger retail brokerages (many of whom dont have 150,000 customers in total, so who are they trading with ?)

I supect you couldnt actually cite a reference for that statistic.

Clearly you didn't read his post. He stated "and that is statistics", so it's proven.

 

[kausty]

150 thousand new traders a day works out at what, about 54 million people a year off the top of my head, which is a damned site more than the adult population of the united kingdom !

Amongst my group of friends, apart from a few who've been given shares, there's only one who dabbles in spread betting. So where are are all these traders ? cos I dont see em

T2W (probably the most popular trading site in the world) only managed to get 200 thousand traders over a 10 year period (and most of them dont trade)

Who are these people trading with. Customer numbers and transaction volumes are publically available for the larger retail brokerages (many of whom dont have 150,000 customers in total, so who are they trading with ?)

I supect you couldnt actually cite a reference for that statistic.

It is not only the UK traders. It is the global number of traders joining the trading community. And some people keep coming in and getting out.

 

[Pazienza]

It is not only the UK traders. It is the global number of traders joining the trading community. And some people keep coming in and getting out.

Jesus Christ, just stop digging.

 

[the hare]

It is not only the UK traders. It is the global number of traders joining the trading community. And some people keep coming in and getting out.

good, that makes perfect sense now.

 

[kausty]

Sorry guys, I will have to take a break from posting the performance numbers and the price points for tomorrow due to work pressure on the back of US downgrade and ongoing issues in Europe.

Should be back tomorrow to post numbers for day after.

 

[kausty]

For 10th August, 2011
SENSEX : Buy above 16,992 with stop loss below 16,757
Sell below 16,757 with stop loss above 16,992

For the price points for the top 10 SENSEX stocks you can check Sensex Phatka blog out. You can also find me at IndiTraders with the link.

Performance for 8th August is also put up. And also performance till today is on the blog.

 

[kausty]

For 11th August, 2011
SENSEX : Buy above 17,258 with stop loss below 17,020
Sell below 17,020 with stop loss above 17,258

For the price points for the top 10 SENSEX stocks you can check the blog out. You can also find me at IndiTraders with the link.

Performance for 10th August is also put up. And also performance till today is on the blog.

 

[kausty]

For 12th August, 2011
SENSEX : Buy above 17,137 with stop loss below 17,011
Sell below 17,011 with stop loss above 17,137

For the price points for the top 10 SENSEX stocks you can check the blog out. You can also find me at IndiTraders with the link.

Performance for 11th August is also put up. And also performance till today is on the blog.

 

[kausty]

For 16th August, 2011
SENSEX : Buy above 17,014 with stop loss below 16,782
Sell below 16,782 with stop loss above 17,014

For the price points for the top 10 SENSEX stocks you can check the blog out. You can also find me at IndiTraders with the link.

Performance for 12th August is also put up. And also performance till today is on the blog.

 

[kausty]

For 17th August, 2011
SENSEX : Buy above 16,786 with stop loss below 16,672
Sell below 16,672 with stop loss above 16,786

For the price points for the top 10 SENSEX stocks you can check the blog out. You can also find me at IndiTraders with the link.

Performance for 16th August is also put up. And also performance till today is on the blog.

 

[kausty]

For 18th August, 2011
SENSEX : Buy above 17,002 with stop loss below 16,782
Sell below 16,782 with stop loss above 17,002

For the price points for the top 10 SENSEX stocks you can check the blog out. You can also find me at IndiTraders with the link.

Performance for 17th August is also put up. And also performance till today is on the bl

 

[kausty]

For 19th August, 2011
SENSEX : Buy above 16,676 with stop loss below 16,430
Sell below 16,430 with stop loss above 16,676

For the price points for the top 10 SENSEX stocks you can check the blog out. You can also find me at IndiTraders with the link.

Performance for 18th August is also put up. And also performance till today is on the blog.

 

[kausty]

For 22nd August, 2011
SENSEX : Buy above 16,290 with stop loss below 15,985
Sell below 15,985 with stop loss above 16,290

For the price points for the top 10 SENSEX stocks you can check the blog out (Sensex Phatka). You can also find me at IndiTraders with the link.

Performance for 19th August is also put up. And also performance till today is on the blog.

 

[kausty]

For 23rd August, 2011
SENSEX : Buy above 16,372 with stop loss below 16,286
Sell below 16,286 with stop loss above 16,372

For the price points for the top 10 SENSEX stocks you can check the blog out (Sensex Phatka). You can also find me at IndiTraders with the link.

Performance for 22nd August is also put up. And also performance till today is on the blog.