We don't give up easily...Do We?

dear friends,
read at least 5 times the below written stuff ,Devine stuff thanks to
Dr. Raman for this

have never ever in my life ventured to be this bold so publicly and more
so in print, but i feel like being one and saying something which might be
the last line of this mail.

And this mood is very rightly prompted by seeing the deluge of depressive
emails and the sentiment which has taken a beating and rightly so coz the
the bear phases and bear markets tend to beat you and your psyche more than
the prices. That is the very definition of the bear phase or market. I have
seen people stop buying capital market or other such magazines, papers ,
stop subscriptions and you name it. That is bear phase or market for you.
There is total gloom ( it has yet to come in this market of 2006 ) and
lasts painfully long.

People tend to be capital protective, the spending becomes less which adds
to the sentiment and economic slowdown.

But the bold and prudent ones which are cash rich venture out and pick up
the right kind of stocks and keep on adding them at all declines and are
ready to reap next-time when your paanwala or barber keeps ndtv profit or
cnbc channel on at his joint and stock markets are the ususal topic in
ladies kittie parties.

There is nothing wrong with India or its economy or its people or its
collective intelligence. We would surely grow in numbers (population - read
consumers ) , intelligence, productivity, entrepreneurship coz we sure want
more and we rightfully demand out place in the Sun. We worry about our own
future and next generations more than any other nationality on earth.
We are more family oriented and we are savers par excellence.

Yes, there are abberations, there are sometimes too many me-toos.

I could keep this rambling on and on, but to cut it short and coming to the
point, i would say, that having retired gracefully from my professional
life, I have lived quite a life and whatever little is left of it, i am
pretty sure that I would be here when the sensex / nifty hits newer
heights not yet seen or even mentioned.

You can mark these words for posterity to prove me wrong or otherwise

The Trading Battle

How much training you need depends on the job you want. If you
want to be a janitor, an hour of training might do. Just learn to attach
a mop to the right end of the broomstick and find a pail without holes.
If, on the other hand, you want to fly an airplane or do surgery, you’ll
have to learn a great deal more. Trading is closer to flying a plane than
to mopping a floor, meaning you’ll need to invest a lot of time and
energy in mastering this craft.
Society mandates extensive training for pilots and doctors because
their errors are so deadly. As a trader, you are free to be financially
deadly to yourself—society does not care, because your loss is someone
else’s gain. Flying and medicine have standards and yardsticks, as
well as professional bodies to enforce them. In trading, you have to set
up your own rules and be your own enforcer.
Pilots and doctors learn from instructors who impose discipline on
them through tests and evaluations. Private traders have no external
system for learning, testing, or discipline. Our job is hard because we
must learn on our own, develop discipline, and test ourselves again
and again in the markets.Trading is an continuous battle of mind and
the one with emotionless thinking enjoys the cake.Trading requires
continuous updation of skills and thinking to get money out of mighty
markets.

Trading record

Good traders keep good records. They keep them not just for their
accountants but as tools of learning and discipline. If you do not have
good records, how can you measure your performance, rate your
progress, and learn from your mistakes? Those who do not learn from
the past are doomed to repeat it.
When you decide to become a trader, you sign up for an expensive
course. By the time you figure out the game, its cost may equal that of
a college education, only most students never graduate—they drop out
and get nothing for their money except for memories of a few wild rides.
Whenever you decide to improve your performance in any area of
life, record keeping helps. If you want to become a better runner, keeping
records of your speeds is essential for designing better workouts.
If money is a problem, keeping and reviewing records of all expenditures
is certain to uncover wasteful tendencies. Keeping scrupulous
records turns a spotlight on a problem and allows you to improve.
Becoming a good trader means taking several courses—psychology,
technical analysis, and money management. Each course requires its
own set of records. You’ll have to score high on all three in order to
graduate.
Your first essential record is a spreadsheet of all your trades. You have
to keep track of entries and exits, slippage and commissions, as well
as profits and losses.

ABB

ABB will find trendline resistance near 2300-2320 trade accordingly
cheers
rish