Friday, April 20, 2012

Patience is the trader's best friend

Nifty remains in a narrow range. This range is getting narrower by the day. Markets that are in contraction tell us that soon enough, a big breakout / breakdown is coming. This happens because markets move in cycles of contraction and expansion. When we see narrow ranges, we can assume that this is contraction and the next phase will be expansion.

For the Nifty, a move above 5400 or below 5200 should give strong momentum. Within this 200 point range, there are unlikely to be many trading opportunities.

Therefore, patience. Wait for the Nifty to move out of its trading range.

7 comments:

Ganesh said...

dear sir how much percentage we can earn from trading on yearly basis




Regards
Ganesh Pawade

Neetu said...

Hello sir:

How to be in game with profit. day by day it is becoming tough...

1st is this range bound trade.
2nd is New High Frequency trade. All media a bluff masters...how can that be a software Bug, which was solved in a nano second time. Looks like in coming time all small trader will be killed. Please Guide us in this regards...

Thanks,

Gulshan said...

after studying eod charts do you see a bullish flag formation in nifty?
If my assumption is correct then we may see nifty at 6000

Technotrader said...

Sir, you are very right. PATIENCE is the only thing which is most important apart from TA. PATIENCE can gave you edge over anybody and from last two years I am learning PATIENCE.

BNTdotCOM said...

Experienced trader always waits for right setup.


Sitting on sidelines is the disciplined approach towards mkt.

When in doubt stay out :D

Pi said...

Sir,

One of my friends was asking about this certification exam of MTA.

Is this the same as ATMA? Is ATMA the indian entity of MTA or separate. Does ATMA have its own exams.. or does it conduct certification exams of MTA only and MTA gives the certificates. Finally she wanted to know whether this exam has recognition.

Many thanks,
Piyush

Kuldeep.rk said...

Dear Sir,
I am of the opinion that GOLD is breaking out the resistence line ( upper trangle line ) on daily / weekly charts. Have initiated initial long positions today. Can you check n confirm whether my observation is correct?

B Rgds,
Kuldeep