Purpose Of this forum

First of All A Humble Thanks to " Ilango Sir " (justnifty.blogspot.com) and "Rajgopal Sir" --Who Exist for a Noble Cause .

"Every Thing in this World lies at the Two Extremes"

 Laotse

As the saying goes if we apply the rule of pseudo science its true. Same is the case with market also . We have seen the great 2008 crash and then a whooping rally too.The question is How many  of us were really fortunate to Have the strawberries in our mouth.

In the Earlier post we had the rules of trading but in reality there is no rule and The only rule is that "Believe Yourself" & "Have Patience" & the market will follow you.

Coming to the point the purpose of this forum is not to  Predict the future but to make it today. Trading as such is a Calculative Gambling . If you trade for a day get money and move out you are the wisest person on earth . But then that is not trading that are the qualities of connoisseur. Better then don't trade because in losses it will be more of a mental loss.

Traders are like warriors the Battle never ends and so is the case with the Learning.A day never ends for the trader at 3.30 but it starts at 3.30. During Market hours we are just executing our trade plan.

The purpose here is to understand the market and especially Nifty Behavior . "A simple example States that when the buyers are twice the sellers at the resistance point short Nifty and vice-versa When the sellers are twice the buyers at the support level buy nifty ".No need to place a stop loss Just believe yourself and your are gonna win this battle.

These rules are not written any where but they are rules as said by the wisest persons in know till date.

Let this be as a preface to my Never Ending Journey --- Much to follow as I Learn More and More. Earning will always be a By Product .

Lets start with That Perfect Trade that doesn't have a Stop Loss .. 

Regards

Nimesh

Dennis Gartman's 22 Rules of Trading

• Never, under any circumstance add to a losing position.... ever! Nothing more need be said; to do otherwise will eventually and absolutely lead to ruin! 
• Trade like a mercenary guerrilla. We must fight on the winning side and be willing to change sides readily when one side has gained the upper hand. 
• Capital comes in two varieties: Mental and that which is in your pocket or account. Of the two types of capital, the mental is the more important and expensive of the two. Holding to losing positions costs measurable sums of actual capital, but it costs immeasurable sums of mental capital.
• The objective is not to buy low and sell high, but to buy high and to sell higher. We can never know what price is "low." Nor can we know what price is "high." Always remember that sugar once fell from $1.25/lb to 2 cent/lb and seemed "cheap" many times along the way.
• In bull markets we can only be long or neutral, and in bear markets we can only be short or neutral. That may seem self-evident; it is not, and it is a lesson learned too late by far too many.
• Markets can remain illogical longer than you or I can remain solvent," according to our good friend, Dr. A. Gary Shilling. Illogic often reigns and markets are enormously inefficient despite what the academics believe.
• Sell markets that show the greatest weakness, and buy those that show the greatest strength. Metaphorically, when bearish, throw your rocks into the wettest paper sack, for they break most readily. In bull markets, we need to ride upon the strongest winds... they shall carry us higher than shall lesser ones.
• Try to trade the first day of a gap, for gaps usually indicate violent new action. We have come to respect "gaps" in our nearly thirty years of watching markets; when they happen (especially in stocks) they are usually very important.
• Trading runs in cycles: some good; most bad. Trade large and aggressively when trading well; trade small and modestly when trading poorly. In "good times," even errors are profitable; in "bad times" even the most well researched trades go awry. This is the nature of trading; accept it.
• To trade successfully, think like a fundamentalist; trade like a technician. It is imperative that we understand the fundamentals driving a trade, but also that we understand the market's technicals. When we do, then, and only then, can we or should we, trade.
• Respect "outside reversals" after extended bull or bear runs. Reversal days on the charts signal the final exhaustion of the bullish or bearish forces that drove the market previously. Respect them, and respect even more "weekly" and "monthly," reversals.
• Keep your technical systems simple. Complicated systems breed confusion; simplicity breeds elegance.
• Respect and embrace the very normal 50-62% retracements that take prices back to major trends. If a trade is missed, wait patiently for the market to retrace. Far more often than not, retracements happen... just as we are about to give up hope that they shall not.
• An understanding of mass psychology is often more important than an understanding of economics. Markets are driven by human beings making human errors and also making super-human insights.
• Establish initial positions on strength in bull markets and on weakness in bear markets. The first "addition" should also be added on strength as the market shows the trend to be working. Henceforth, subsequent additions are to be added on retracements.
• Bear markets are more violent than are bull markets and so also are their retracements.
• Be patient with winning trades; be enormously impatient with losing trades. Remember it is quite possible to make large sums trading/investing if we are "right" only 30% of the time, as long as our losses are small and our profits are large.
• The market is the sum total of the wisdom ... and the ignorance...of all of those who deal in it; and we dare not argue with the market's wisdom. If we learn nothing more than this we've learned much indeed.
• Do more of that which is working and less of that which is not: If a market is strong, buy more; if a market is weak, sell more. New highs are to be bought; new lows sold.
• The hard trade is the right trade: If it is easy to sell, don't; and if it is easy to buy, don't. Do the trade that is hard to do and that which the crowd finds objectionable. Peter Steidelmeyer taught us this twenty five years ago and it holds truer now than then.
• All rules are meant to be broken: The trick is knowing when... and how infrequently this rule may be invoked

Atlast 

"There is never one cockroach! 

This is the "winning" new rule "