Are you a new or Struggling trader , read this chat

Below is a chat between me and a new and struggling trader . If you are also a new or struggling trader . Read the chat below .

plugoo: [My Plugoo] [MAB] hi
manish_chn: hi
plugoo: [MAB] who is this
manish_chn: I am Manish Chauhan
manish_chn: owner of http://www.jagoinvestor.com
manish_chn: How are you doing
plugoo: [MAB] hi manish...i m a regular reader of jagoinv.
manish_chn: Great !! , how are you finding this posts
manish_chn: I hope they teach you something
manish_chn: What you name ? MAB ?
plugoo: [MAB] its really useful for me..even though i am a trader..i was rather ablind shooter..
plugoo: [MAB] Binoy MA...thas my name
manish_chn: ok
manish_chn: you should read my TA blog
manish_chn: I give some insight on markets there
manish_chn: anywyas .. jagoinv is also a must read for anyone
plugoo: [MAB] now i am trying to learn from ur writings..
manish_chn: great !!
manish_chn: don't buy or sell blindly
manish_chn: it takes years to understand how to make money consistently
manish_chn: stop and first learn a lot
manish_chn: may be for 1 yrs
plugoo: [MAB] yu r right...
manish_chn: yes
manish_chn: I have been trading for last 1 yrs and believe me , I am still struglling
manish_chn: I am still in loss
manish_chn: and still I can't make consistent money
manish_chn: I have learned a lot
manish_chn: and now I am improving
plugoo: [MAB] wht hapnd with me was ..i make some gud profit as a short term trader.
plugoo: [MAB] then i started day trading ..idont know whether i can term it day trading..its called intraday in indiabulls ...ur position will be squared of at around 3. or 3.10 automatically...
plugoo: [MAB] here i loss everything...
plugoo: [MAB] i made before..
manish_chn: hmmm
manish_chn: yea its called day trading
manish_chn: and its leveraged
manish_chn: you buy 100 by just paying 20
manish_chn: correct
plugoo: [MAB] even today also i played with icici....i bougth at 720..then it touched 731..then my greed told me to wait..then it dived to 700...n finally i book loss at 708..
manish_chn: hmm...
manish_chn: why did you buy ? today
manish_chn: I am sure you bought it because it went below 710 and then when it went upto 720 , you thought that its now moving up
manish_chn: and didn't want to be left out
plugoo: [MAB] so i m planning to stop day trading...its just blind shooting for me..i dont know any tech. analysis...from my observation i learned that icici is a very good price swinger..
manish_chn: and hence you bought , correct
plugoo: [MAB] ur absolutely correct
manish_chn: :) hehe
manish_chn: you know , it takes years to understand this thing
manish_chn: I will teach you this thing just now
manish_chn: and already remember it
manish_chn: you are not able to differentiate between volatility and actual price movement
manish_chn: keep saying "hmmm..." or "ok" so that I know that you are reading
plugoo: [MAB] yea ..whjt i think gud for me is delivery base buy..in cash..not intraday
plugoo: [MAB] wht do u think
plugoo: [MAB] ok
manish_chn: no

manish_chn: its not like that
manish_chn: may be yes , its not for you
plugoo: [MAB] then
manish_chn: but at this moment you are not succeeding becuause you are not doing it correctly
plugoo: [MAB] hmm
manish_chn: first you have to undetrstand what is day trading
manish_chn: and how is it done
manish_chn: what are important things for day trading
manish_chn: the first thing
manish_chn: did you know before markets opened , that what was the mood of market toay
manish_chn: and what was it expected to do ?
plugoo: [MAB] ok
plugoo: [MAB] yea
manish_chn: tell me
plugoo: [MAB] i look for previous days
manish_chn: what was the mood
plugoo: [MAB] us and EU markets
manish_chn: did you know that markets have gone so much up and profit booking is expected
plugoo: [MAB] EU was plus
manish_chn: and market mood for today was to book profit
plugoo: [MAB] yea manish..that inteligence also back fired on me..
manish_chn: one thing always understand
manish_chn: today icicibank was coming down
manish_chn: and you were buying
manish_chn: you were against the trend
manish_chn: trend was down (for today) and you are a day trader
manish_chn: so logically you have to ride the trend
manish_chn: so if its going down , sell .
manish_chn: if its going up , buy
plugoo: [MAB] post election when market went 2000+ i thought next day there will be a profit booking..hence next dat i short on icici..but to my sadness..i found that only icici was moving up
manish_chn: arre no
manish_chn: you are doing it totally wrong way
manish_chn: don't fight the trend
manish_chn: this is extremmelly important
plugoo: [MAB] really man...
manish_chn: you need to first stop
manish_chn: and take some break or vacation
manish_chn: because I guess currently you are so much exhayusted with all the losses and frustration
manish_chn: :)
plugoo: [MAB] wht ever i do in daytrading..it seems that market has eyes and it watches me an do what exactly opposite to it
manish_chn: happens with all
manish_chn: :))
manish_chn: same happens with everyopne
manish_chn: I can see myself in you :)
manish_chn: this all has happened with me too
manish_chn: and I have made some amazing losses
manish_chn: I have don't worst trading of all
manish_chn: done
plugoo: [MAB] so whts ur advice for me..
manish_chn: ok
manish_chn: how much have you losr
manish_chn: lost till now
plugoo: [MAB] in 3 months 26K
manish_chn: hmm
manish_chn: total = 26000
plugoo: [MAB] not much ha!
manish_chn: correct
plugoo: [MAB] no man..its huge for me
manish_chn: hmm.. ok
manish_chn: may be its huge
manish_chn: one thing is
manish_chn: you have tio understand that this is a place where you are trading against professionals and people who have decades of experience
manish_chn: so you have to accept that it has to be damn tough
manish_chn: making money from markets is not childs play
manish_chn: I am not talking about 1 or 2 day profit
manish_chn: I am talking about consistent profit
plugoo: [MAB] ok..
plugoo: [MAB] so should i stop..?
manish_chn: so , what do you want to do
manish_chn: are you doing it for time pass
manish_chn: or are you here to make some money and then leave
manish_chn: is it your side hobby kind of thing
manish_chn: if I ask you , do you seriously take it or take some effort for it , will your answer be "yes"
plugoo: [MAB] very much YES
manish_chn: ok
manish_chn: do you want to make a career out of it
manish_chn: like leaving your job and doing this seriously \
plugoo: [MAB] do u know form one of your atricles ..today i down loaded a study material on technical analysis..
manish_chn: or even if you don't leave your curretn job , will you do it as your business
manish_chn: ok am great
plugoo: [MAB] without leaving my job..but like a parellel job..
manish_chn: Binoy , I am sure that you understand that you have to work hard and learn
manish_chn: but I thikn you still underestimate the effort you have to put here
manish_chn: have you read some books
manish_chn: what do you know about technical analysis
manish_chn: or physcology of trading
plugoo: [MAB] "0"
manish_chn: hmm.. see, and you say that you are serious
manish_chn: may be your are serious mentally , but not from your actions
manish_chn: first stop trading for time being
manish_chn: and learn
manish_chn: becoming trader is just like becoming a doctor or pilot or engineer
plugoo: [MAB] hmm
manish_chn: you have to do the course
manish_chn: and that you have to do your self
manish_chn: and give time to it
manish_chn: it may look vert easy , because its only BUY or SELL
manish_chn: but you have seen , how difficult it is
plugoo: [MAB] yea..i have seen it
manish_chn: I am sure you will have some fundamental problems
manish_chn: like
plugoo: [MAB] let me tell u one thing...
manish_chn: You keep your looses going on and hoping that they will come back
plugoo: [MAB] ok tell me..sory to interupt
plugoo: [MAB] yea..
manish_chn: yeah , tell me
plugoo: [MAB] i am doing trading for the last 1 year...i started when market was around 18K+
manish_chn: k
plugoo: [MAB] i sit with experts in front of the trading terminal in the Arcadia ...
plugoo: [MAB] there i make some gud profit some arnd 20K
manish_chn: where do you work ?
manish_chn: what's arcadia
plugoo: [MAB] Arcadia is like Indiabulls, geojit..sherkhan..a brocker firm..so they had the realtime terminal..
manish_chn: who are these experts you are talking about
plugoo: [MAB] n they daily get gud tips..an almost all of it will work..so i made profit there..
plugoo: [MAB] then leave them ..started my own in indiabulls online trading without getting any tips n hints..
plugoo: [MAB] now i started to be in loss...
plugoo: [MAB] just one month back only i came acroos ur jago invester
manish_chn: hmmm
plugoo: [MAB] then only i take learning in trading dseriously..
manish_chn: hmm..see , first thing is it's a good thing not to be dependent on some one tips
plugoo: [MAB] i gone through all ur blogs soince 2009 jan..i copied to all those relate to trading into my harddisk ...
manish_chn: and they will stop working some day
plugoo: [MAB] so my point is ..i have just started lerning..
plugoo: [MAB] now u may continue..i m listening
manish_chn: ok , I got your point
manish_chn: see , if you want to become a trader and learn things your self
manish_chn: its a very tough path
manish_chn: but its achaievable
plugoo: [MAB] oh..
manish_chn: what ohh
plugoo: [MAB] tough pah..made me oh..
manish_chn: not only tough , but extremmly tough
manish_chn: I mean , to become a good trader
manish_chn: who makes money consistently
plugoo: [MAB] ...but i think i can...
manish_chn: yes , why not
manish_chn: you can
manish_chn: I can
manish_chn: any one can
manish_chn: who is ready to do it
manish_chn: :)
manish_chn: so learn trading first
plugoo: [MAB] wht i hv to do it for that..stay away frommarket n..learn n come back after some time?
manish_chn: and believe me , you have to give atleast 1 yr
manish_chn: no
manish_chn: be with the market , but don't trade
manish_chn: don't trade real money
manish_chn: trade on paper
manish_chn: note down when you buy and when you sell
manish_chn: make your notes of trae
manish_chn: trade
manish_chn: have you made notes of your trades
manish_chn: ?
manish_chn: what is your average loss per trade
plugoo: [MAB] thats a gud sugg..but the problem is in paper when u make money..may feel sory that its not the real one..
manish_chn: yes
manish_chn: this is one big problen
manish_chn: but why didn't you tell me that one good thing about paper trading is tat when oyu loose money on paper you are happy that it was not real
plugoo: [MAB] in day trade..i make an avg loss of 1000+ or - per day
manish_chn: this is psychological
plugoo: [MAB] but profit is avg 400,500 etc
manish_chn: which city are you in ?
plugoo: [MAB] i m from kerala..
plugoo: [MAB] now at kuwait
manish_chn: ok , if you were in bangalore , I could have coached you
plugoo: [MAB] hmm
manish_chn: anyways
manish_chn: so first learn for some time . read books
manish_chn: see the markets
manish_chn: try to learn some technical analysis
manish_chn: do you read sudarshan shukani
manish_chn: or breet steenbarger ?
plugoo: [MAB] but u said in ur blog tech. anlss is just 10%
plugoo: [MAB] but can;t be avoided hah?
manish_chn: yes
manish_chn: I mean ... it's a tool
manish_chn: you better have it withy oyu
plugoo: [MAB] hmm
manish_chn: let me ask you simple
manish_chn: q
manish_chn: if you buy some thing at 720
manish_chn: and it starts to go down
plugoo: [MAB] ok
manish_chn: say 715
manish_chn: what do you say to your self
plugoo: [MAB] it will come back n bring u to profit
manish_chn: yes
manish_chn: and may times it happens
plugoo: [MAB] n more time the other way arnd
manish_chn: so you must say that I know that it will go down to may be 680 but eventually it will come back and give me profits
manish_chn: and some times you know that it will really go to 680
manish_chn: correct
manish_chn: with high probability
plugoo: [MAB] hmm
manish_chn: so why don't you then sell at 715 and then wait for it go go more down and then buy it back at that levels
plugoo: [MAB] u mean to say there i need tech . anlss
manish_chn: the most important element which is missing in your trading is "no control on losseS"
plugoo: [MAB] ur right
manish_chn: I will tell you simple thing
manish_chn: if you trade 10 times
manish_chn: how many times will you loose
manish_chn: ?
manish_chn: around 5 times
manish_chn: even if you are a bad trader sometime you aer lucky and you make priofits half times
plugoo: [MAB] yea
manish_chn: so say your equity is 1 lacs
manish_chn: and you make 10 trades
manish_chn: each time you say that I will take max loss of 600 or 700
manish_chn: not more than that
manish_chn: evn if you loose all 10 times
manish_chn: you will loose 7-8k
manish_chn: out of 1 lac
manish_chn: that's 7-8% loss
manish_chn: if you control all your losses
manish_chn: what I am trying to say is losses are like wounds on body
plugoo: [MAB] yea..sounds intersting
manish_chn: if you take care of it in early stage
manish_chn: and don't let it grow
manish_chn: you can take a lot of them
manish_chn: and still you will be healthy
manish_chn: and it won't pain
manish_chn: but if you leave even one or 2 wounds open and don't take care of it
manish_chn: it can kill you
manish_chn: its not looses which are your enemies
manish_chn: its uncontrolled losses
manish_chn: losses which you allow to grow
manish_chn: loss comes , cut it
manish_chn: loss comes , cut it
manish_chn: loss comes , cut it
plugoo: [MAB] hmmm
plugoo: [MAB] gud read
manish_chn: then
manish_chn: profit comes , wait for it to grow
manish_chn: I know the temptation to take the profit
manish_chn: you are so worried that it will go away
manish_chn: its psychological
manish_chn: its in your mind
manish_chn: prices don't know that you are thinking that it will come down
plugoo: [MAB] even if it was known the expectation that it it will come to ur profit region prevents from booking loss
manish_chn: you know, your total mind thinking and attitute towards trading needs a change
manish_chn: you need to look it in a fresh way
manish_chn: have a new start
manish_chn: if you succeed in trading , you can make all the money in 3-4 yrs , what you want to make in your life
manish_chn: I mean you can make excellent money
manish_chn: that's enough motivation to try this
plugoo: [MAB] i think like saying 'no' is the must lernt thing inlife..in market booking profit is the basic thing is in market
manish_chn: :)
manish_chn: controling losses and letting your profits run is the key
manish_chn: one last thing ..
manish_chn: understand volatility and actual trend
manish_chn: when prices start going up , do you think that prices are not reversiing
manish_chn: ?
plugoo: [MAB] hmm..
manish_chn: when prices are declining
manish_chn: obviously in betwwen , it will also go up
plugoo: [MAB] so?
manish_chn: there are many people who want to take thjere profits
manish_chn: so you have to understand that it is a correction in a downtrend
manish_chn: like today
manish_chn: with your ICICI
manish_chn: the time when you biought , it was actually a time to sell
plugoo: [MAB] hmmm..
manish_chn: it was an opportunity to sell so that you can take 12 point profit
manish_chn: http://in.finance.yahoo.com/q/ta?s=ICICIBANK.NS&t=5d&l=on&z=l&q=l&p=e50,e200&a=m26-12-9,r14,ss&c=
manish_chn: see this
manish_chn: see the green line
manish_chn: tthats 200 MIn ema
manish_chn: that's the average price over 200 min
manish_chn: noe that's down
manish_chn: not even a single time in a day it was moving up
manish_chn: its direction is only down
manish_chn: that shows that the trend is down andhence bearish
plugoo: [MAB] my god..
manish_chn: any up move should be treaded as opportunity to sell again
manish_chn: :)
plugoo: [MAB] hmmm..
manish_chn: I know you must be thinking that its so obvious , why didn't you see it
manish_chn: but its too tough ..
manish_chn: poeople can't see obviuos things
plugoo: [MAB] so whts ur tip to me as day trader..
manish_chn: first unjderstand , that are you a day trader ?
manish_chn: are you really a day trader
manish_chn: do you have time for it
plugoo: [MAB] :(
manish_chn: or would you like to be a position trader
manish_chn: who buys today and sells after 2 days
manish_chn: or 5 days
manish_chn: or 10 days
plugoo: [MAB] yea...
plugoo: [MAB] position trader is i m better explained i think
manish_chn: see
manish_chn: you are doing wrong thing from te start then
manish_chn: you have married a trading way which you are not comfortable it
manish_chn: better to divorce
plugoo: [MAB] i will if i hsve to
manish_chn: and start to understand this new way you are comfortabl with
manish_chn: :)
plugoo: [MAB] new way..position trader?..
manish_chn: hmm
manish_chn: yes
manish_chn: so stop for some time , better go away for some time
manish_chn: not come back until 1 month
manish_chn: to market
plugoo: [MAB] ok
plugoo: [MAB] .....
manish_chn: and then learn
manish_chn: practice
manish_chn: and read some good people
manish_chn: like Breet
plugoo: [MAB] like u hah? :)
manish_chn: traderfeed.blogspot.com
manish_chn: how do you find me
manish_chn: ?
manish_chn: am I a good motivator
manish_chn: ?
plugoo: [MAB] u really r!!!
manish_chn: :)
manish_chn: thanks
manish_chn: but its extremmelly tough to follow things ourselves
manish_chn: I still do mistakes , but I learn from them
plugoo: [MAB] hmm..
manish_chn: and have confidence
manish_chn: don't loose heart
plugoo: [MAB] can i add u to my google talk if u dont mind if u have a gmail id
manish_chn: if you start making losses again or its tough
manish_chn: manish.pucsd@gmail.com
manish_chn: manish_chn@yahoo.com
manish_chn: talk to me anytime you need help
plugoo: [MAB] ok..
manish_chn: go to my shelfari page
manish_chn: and see all the books I have read
manish_chn: on trading
manish_chn: read those
plugoo: [MAB] ur my motivator , teacher since one month..n friend from today ..ok..
manish_chn: :)
manish_chn: sure ...
manish_chn: talk to other traders
manish_chn: know how they think
manish_chn: learn and teach
plugoo: [MAB] ok..
manish_chn: spread knowledge
plugoo: [MAB] sure..
manish_chn: so
manish_chn: one thing
manish_chn: do this
plugoo: [MAB] u r a full time trader..i mean ur job
manish_chn: nah man
manish_chn: I am a software eng
manish_chn: and I want to make acareer in trading
manish_chn: I trade part time
plugoo: [MAB] part time means...how often
manish_chn: and I am still a failure but not I am very close to success
manish_chn: I think that
manish_chn: now
manish_chn: now I have learned things
plugoo: [MAB] whts ur trading pattern
manish_chn: and from past some month things are in contrl
manish_chn: I trade options
manish_chn: not stocks
manish_chn: and one thing .. don't get into derivatives in start
manish_chn: no futures or opionns for some tne
manish_chn: once yu can trade stocks , then think about derivatives
plugoo: [MAB] ok..
manish_chn: so if ICICI opns stronger tomm
manish_chn: and starts moving up
manish_chn: then BUY
manish_chn: and sit tight
manish_chn: and don't involve your emotions in your decisions
manish_chn: buy , and keep some stop loss and leave ]
manish_chn: I know you keep looking at your screen every 20 sec :)
manish_chn: correct :)
plugoo: [MAB] :)
plugoo: [MAB] mazbooth
manish_chn: what?
plugoo: [MAB] really
manish_chn: and the moment prices go rs 1 below your buy , you seem to feel bad and think "should I sell"
manish_chn: you just want it to go up only
manish_chn: and never down
plugoo: [MAB] i read that u really enjoy options..still i hv no idea abt options.n fututre..i hv downloaded ur article..not get time till to read it..
manish_chn: hmmm
manish_chn: ok
manish_chn: but for now , don't get into it
manish_chn: ekse it will become comples
manish_chn: be with stock trading for now
manish_chn: and get into derivatives later
plugoo: [MAB] ok..i will not
manish_chn: just to let you know and make you greedy
manish_chn: icici options yesterday were at 4
manish_chn: and by end it was at 40
plugoo: [MAB] is the stock trading is inferior to options n futures
manish_chn: so 10k invested at 4 was rs 1 lac after some hrs , same day
plugoo: [MAB] hmmm
manish_chn: that happes in options
manish_chn: but don't tink abut it
manish_chn: its too risky
manish_chn: if you invest 10k in stocks and loose 500 in it
manish_chn: in opiotns its can be 10k investment and 9k loss the same day
manish_chn: or 10k loss
plugoo: [MAB] oops!!..
manish_chn: some times in 5 min
plugoo: [MAB] hmm.
manish_chn: so stay away .. trade stocks for now
plugoo: [MAB] so u dont trade in stock...
manish_chn: no , I don't trade in stocks
plugoo: [MAB] hmm
manish_chn: I trade optons
manish_chn: bcause I started with options only in market
manish_chn: and that was a huge mistake
manish_chn: but now I have learned so much that now I can afford to keep trading in options and learning
plugoo: [MAB] u didnt trade stocks at all?
manish_chn: nah .. just once or twice
manish_chn: but that too was in loss only
manish_chn: but first stock trade and first option trade was in profit
manish_chn: :)
manish_chn: and that increased my belief that "I am becoming a millionaire next year" , trading is easy
manish_chn: far from truth :_)
plugoo: [MAB] is the stock trading is inferior to options n futures
manish_chn: what is the meaning of inferior ?
manish_chn: what do you say inferior
manish_chn: ?
manish_chn: stocks tradig is less complicated , less rewarding and most importantly "extremmely less RISKY"
plugoo: [MAB] its like...is there anythink like..biggies, n experts only do options n futures..stock is for small ppl..something like that?
manish_chn: nah
manish_chn: nothing like that
manish_chn: most people trade stock only
manish_chn: options are mainly hedging tools and some advanced pepoep trade them
manish_chn: but its not easy at all
manish_chn: its all about your risk appeitite
plugoo: [MAB] hmm
manish_chn: if you want to make 10k by invest 5k in 2 days , but you are ready to loose it all
manish_chn: then go trade options
plugoo: [MAB] i c
manish_chn: take it from me , don't get into optiosn soon
manish_chn: trade stocks and be happy
manish_chn: options will come later
plugoo: [MAB] not at all..
plugoo: [MAB] i humble target is 500 rs per day..
manish_chn: what is your trading capital
plugoo: [MAB] 50K
manish_chn: grreat
manish_chn: then its posisible
manish_chn: how much do you put in one go
manish_chn: how much is your capital in market at one time
manish_chn: what are your moneymanagemetn rules
plugoo: [MAB] :)..no rules yaar...total anarchy..
plugoo: [MAB] i m familiar with some stocks..like icici,unitech,rnrrl,rpl,sbi, ivrl prime..etc..i so i just buy on dips...to an extent of 40K total..
manish_chn: no !!
manish_chn: see , you are making mistake again here
manish_chn: you are putting a lot of your money at one point
manish_chn: 50k is your capital
plugoo: [MAB] right
manish_chn: don't put more than 10k at one time
manish_chn: and be consisent eith it
plugoo: [MAB] !!! r u sure
manish_chn: yes
manish_chn: no more than 15k max
manish_chn: you do day trade , correct
manish_chn: so you are using leverage
manish_chn: you can buy 50k worht of stocks with 10k
manish_chn: correct
manish_chn: ?>
manish_chn: do you use margin
plugoo: [MAB] hmm
manish_chn: yes or no
plugoo: [MAB] margin...i dont know..
manish_chn: ok , so when you put a trade
manish_chn: why you buy
manish_chn: when you buy something
manish_chn: there is an ioption if you want to buy on margin or not
manish_chn: so you give just 20 and you will get 100 worth
plugoo: [MAB] whts that
manish_chn: see margin trading
manish_chn: see , you don't have any knowledge of basics and you are doing one of the toughest things in world , i.e "Day Trading"
manish_chn: you are not prepared
manish_chn: better you read some good books first
manish_chn: :)
plugoo: [MAB] yea i m not...
manish_chn: sorry to be straight forward
manish_chn: but I talk staright :)
plugoo: [MAB] i like it that way..
manish_chn: ok
plugoo: [MAB] ur welcome
manish_chn: so you are not prepared and the worst tihng is you didn't know it :)
manish_chn: so go back and come after preparation
manish_chn: read timamo , sudarshan sukahni and breet
plugoo: [MAB] so to get the abcd of trading..what i should read first
plugoo: [MAB] first
manish_chn: first go and read breet stenbarger
manish_chn: his articles
plugoo: [MAB] ok...
plugoo: [MAB] i mad u waste ur valued time..
manish_chn: http://traderfeed.blogspot.com/2006/04/ten-lessons-i-have-learned-from.html
manish_chn: he writes a lot fof articles on general wisdom
manish_chn: see his archives
manish_chn: look at posts which related to you and ignore the technical ones
manish_chn: posts like these
manish_chn: http://traderfeed.blogspot.com/2006/04/ten-lessons-i-have-learned-from.html
plugoo: [MAB] sure...thks for that...
manish_chn: and read timamo.blogspot.com
manish_chn: and read me too ;)
manish_chn: but they are the best ... I am just puttng somr random thoughts
manish_chn: :)
plugoo: [MAB] i tried that from the link u provided in ur blog..its lil boring..timamo
manish_chn: why ?
manish_chn: he puts so many graphs and things
manish_chn: may be you can ignore him for time being
manish_chn: you first get basics
manish_chn: explore
manish_chn: :)
manish_chn: make a lot of mistakes yourself
plugoo: [MAB] yea..i m just a beginner n i need basics
manish_chn: that's the best source of learning
plugoo: [MAB] :)
manish_chn: else its very tough to learn from here anf there
manish_chn: :)
manish_chn: make notes for each trade
manish_chn: and see it later , what you did wrong
plugoo: [MAB] hmm...
manish_chn: I have all the trades from last 5-6 months
manish_chn: with charts and all the data
manish_chn: my trades
manish_chn: and I am consistent :)
manish_chn: consistent in making LOSSS :))
manish_chn: =))
plugoo: [MAB] consistency is the key
plugoo: [MAB] :)
manish_chn: but that will change :)
plugoo: [MAB] as beginner do u think breet stenbarger;s read are gud for me..
manish_chn: yes
manish_chn: I am not talking about his technical posts
plugoo: [MAB] ok.gud
manish_chn: which talk on markets
manish_chn: see his posts which talk about general things
manish_chn: like the post I gave you
plugoo: [MAB] hmmm
manish_chn: you will have to go through each of them
plugoo: [MAB] i understand..
manish_chn: and start reading it and decide if it will help you or not
manish_chn: see all his archives
manish_chn: Can I put this chat on my blog
plugoo: [MAB] ok..
manish_chn: not on jagoinvestor
manish_chn: but my TA blog
manish_chn: it help help others like you to leant
manish_chn: learn
manish_chn: I hope that's fine with you
plugoo: [MAB] not an issue..but who need this ..
manish_chn: hehe .. everyone is like you
manish_chn: I mean most of them
manish_chn: you are not alone :)
manish_chn: many people will read
manish_chn: infact I also learnt some things myself here :)
plugoo: [MAB] ok then now no probs..its my ppleasure...
manish_chn: ok thanks'