I m very upset(because MONSANTO is present in india) & happy (because i m not US citizen whos eating GMO food) after watching this movie called FOOD,INC (2008).
It shows naked truth how about food being produced & eaten in USA today (and may be i m too eating it in india as MONSANTO does business in india too.)
I started watching this one anticipating ENTERTAINMENT on lazy weekend but ended up disturbed – after learning the blatant truth about modern foods.
It took me two days to find the links for downloading this movie but i found it finally, to make your work easy i will put the links over here.
It takes a lot of patience & preservance to enter/exit any trade at predefined point.
Like today, since last 15 days i m trying to concieve in my mind that maximum value is offered when trade is taken at sweet spots.
today also, i came to trading thinking that i will enter in longs when nifty comes to any of sweet spots, but i entered in trade by 13 points early,
and later in the after noon i was offered a lot of sweet spots for entering longs in nifty.
so, i m giving only 3 star rating to my today`s entry ( because in the end it +ve)
But,
it could have been a 5 Star rating if i had only waited for nifty to came near hourly mSAR or at 10 min + n=21 mSAR.
i will try it tomorrow to enter a trade for 5 Star rating.
another good thing, i didnt traded with all my funds today, i kept 50% funds for entering when nifty hits daily mSAR / sweet spot. (looking at dow as of - looks like tomorrow could be that day)
This I marked that how media spreads fear among the participants of stock market. I am noting here two incidents which happened over weekend of 19th march to 22nd march, but over two different continents. INDIA & USA. Incident #1.
After closing markets, RBI declared minor increase in REPO RATES, now i am no banker to estimate the effect of this on banks but all the business channels & news sites went ga-ga over this that move will adversely affect the market and may trigger fall. Each and every analyst went on saying that this negative news.
Till Friday 19th march we were in strong but matured uptrend (which started from 11th feb 2010) in nifty – so it was but obiviouis for everybody to say that this move of RBI will trigger change of trend.
Bloomberg (on TV & website) even went on saying that US STOCKS DROP AS INDIA INCRESED RATES....
(i think this is the biggest blunder done by any business media)
But to everybody’s surprise on Monday 22nd march 2010, market opened huge gap down,
Than it gave + ORB, than it never came back to that low levels,
And rallied to cover all the losses.
The point is never listen to business channels their views may not necessarily may true.
Incident #2
This one happened in US, from 23rd to 26th march,
While media was clearly negative over health care bill which was supposed to pass on Sunday 25th march 2010, all analyst and Jim Cramer of mad money was confidently saying that if this bill pass than short all stocks on Monday and bla-bla-bla....
That bill got passed on Sunday, and every media was advising to be short, like cnbc.com etc,
DOW rallied.
This again fulfilled my belief that this business channels knows nothing about markets.
They can only tell what’s happening, just like news channels, which reports what happened in past. & can`t foretell - so why listen to them?
On 17th march based on screen watching, I saw a breakout and went long in BN fut. at 9190., but it was in march series, but till 25th march when nothing happened, I became impatient,
And thought of getting out, but i remembered that i started following system of mSAR religiously, so kept going, but it was expiry so i have to rollover, and I sold BN fut. at 9199, at around 11am. But at that time April fut. was trading at 9210, 10 pts premium than March fut.... now. Let me remind –some flashback of this march-April rollover drama.
Flashback,
After i took long position in march series on 17th, around 19th march , i thought of rollover and checked April fut. prices, it was trading at 15 pts discount to march fut price, so i thought its a good deal, without doing anything i m getting 15 points, but don’t know why i didn’t do it at that time thinking of that march fut. will make new high, (read ..Greed)
Time went on & expiry came, and today, its April fut. which is at 10 pts premium, so again without doing anything i lost that 15 pts + 10 = 25 pts..... I wanted to bang my head in wall.
So, i covered march fut & waited for April to cool down a bit, But BN has another plans and it blasted from that level, which it didn’t came again till I’m writing this (30.03.10)
After it went 9588, i decided to throw the towel in & join the party, but i forget that i was entering into trade @ worst time. i.e. on top most lvl , on highest high made by BN.
I bought at 9580 April fut. & it closed at 9435 on the day i bought i.e. at 29.03.10
Today it went till 9598, and closed at 9490. ( -90 pts)
Now system`s mSAR is at 9266, and i had kept 200 pts of S.L. lets c, which one hits.
Update: i sold that on 9455, fearing further loss & 100 pts stop loss hit , on 30th march 2010.
Update #2 : it rallied back to 9550 on 31st march.2010.
Lessons Learnt.
1)Never indulge in greed of 5-20 pts when playing for Big Shots.
2)Never enter the trade at top channel / near recent high
3)Always tweak entries near SL/mSAR, so that optimum risk/reward is achieved.
Today i also marked that when i am writing options (right now 3 strikes written)
I can sense early when they start moving up/down, as they clearly demonstrate that if they are going down than whenever nifty falls, they wont rise as much (puts written) and whenever nifty makes is going to make new high, they will continue to fall slowly.
Yesterday i closed 4900PE OF MAY, at 41 (wrote at 70) and low was 39, which today didn’t breached and afterwards it rallied to 53. When nifty fell by 1%.
Lessons Learnt.
1 always write minimum strikes( more lots of same strike) & keep HAWKs eye on previous days OHLC. Of each option.
2 doing above will help close position at optimum profit.
FOLLOW ON 1st april.2010
While nifty rose today by around only 1%, all options which rose previously by 20-30%, made fresh lows 40% down(from the price which i covered)
Dont know what happened suddenly, i was busy wathcing BN.
# Never underestimate the power of writing and never let the fear take control your decision for covering it early. Writing trades are 95% profitable , it fails only because of me.
Hi all,
