>>> VALUE OF PATIENCE <<<
Patience - The word give lot of meaning and importance in stock market. If You don't have this Meaningful word Patience with you, then all your skills in stock market becomes Useless.
Dennis Gartman, a successful trader and publisher of The Gartman Letter has this to say about the value of patience: "Proper patience is needed throughout the lifecycle of the trade, at entry, while holding and exit."
A Well know - Experienced Trader or Investor - with lot of Fundamental or Technical Knowledge - may continue to make loss or Miss his Profit - due to his impatience.
There are several reasons for this, but the big one is simple. Most investors are not long-term buy-and-holders. They lack the patience and require the thrill of something more. Either they are convinced of their ability to time the market, which usually leads to dismal returns, or they are emotional pendulums, buying at the top and selling out at the bottom of markets, which always leads to dismal returns.
>> Even a Short Term Swing Trader Need Patience <<<
Shorter term swing traders still have to develop the skills of patience. You may have bought into a stock that has started to trade sideways over a period of a week. It is not making you any money whilst consolidating so you decide to cut and run, only to then witness the stock start to move up nicely over the coming weeks. This type of behaviour is common as swing traders panic out of positions they are in when these are doing nothing. In fact, swing traders can panic out of trades even when they are running well! For instance, you buy a stock and within two days it has moved up by 5%. The temptation to grab those profits will be very high, even though there is no logical reason from looking at the charts to realize your gains.
>>> Patience to be in two forms <<<
Patience comes in two forms; the patience to stay in trades that you are already in, but also the patience not to take up new positions when your entry criteria aren’t fully met. Have you ever taken new trades because you simply wanted to be ‘in’ trades? Having the patience to not trade is just as important as having the patience once you are already in.
So Friends, Learn to live with Patience and Earn Every day. Good Luck.
>>> Nifty Weekly Chart <<<
>>> Click the chart to see on full screen <<<
Price took a clear support from the trend line - and zoomed. Now the Key Resistance @ 8240-50 - a Major Hurdle for Bulls.
>>> Nifty Daily Chart <<<
>>> Click the chart to see on full screen <<<
After Getting Support @ channel Support @ 7715 - Bulls reacted heavily and zoomed above 7990 - Major Hurdle. We are long from 7815, Booked Profit @ 8050.
>>> Nifty Hourly Chart <<<
>>> Click the chart to see on full screen <<<
Hourly Chart - Had a Different Story to Say. Price Resisted @ Channel Top, shows - a Possible Correction.
>>> Bank Nifty Daily <<<
>>> Click the chart to see on full screen <<<
Its a Break Out Story again in Bank Nifty also. Above 17495 More rally till 18000+.
>>> Bank Nifty Hourly Chart <<<
>>> Click the chart to see on full screen <<<
Earlier this We have booked 500 Points Profit near 17150. As per above chart, Price tested the first Channel and if crosses above may test the next upper channel near 18000+.
>>> SBIN - Profit Booked Rs.20,000/- <<<
>>> Click the chart to see on full screen <<<
Earlier we have booked Rs.20k from our long position.
>>> LICHSGFIN - Booked Profit Rs.11000/- <<<
>>> Click the chart to see on full screen <<<
Also Booked Profit in LICHSGFIN Rs.11,000/-
>>> UNION BANK - Booked Profit Rs.15000/- <<<
>>> Click the chart to see on full screen <<<
Booked Profit Rs.15000/-
>>> Performance till 27th May, 2016 <<<
>>> Click the chart to see on full screen <<<
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