how and why we traded long on 6th January...?

Read the following coversation .....to know how and why we take long in nifty and booked ...on Friday...? sreenivas reddy (1/6/2012 3:27:38 PM): Sir, pzzz tell this doubt .... sreenivas reddy (1/6/2012 3:28:04 PM): low ema is 4698 and nifty crossed below this ... sreenivas reddy (1/6/2012 3:28:41 PM): so hw u judge to take long while move why not short while coming down from 4698 ? sreenivas reddy (1/6/2012 3:28:47 PM): low made 4692 gauresh59 (1/6/2012 3:30:27 PM): dear at that SAR is 4688........how can we short above 4688....... gauresh59 (1/6/2012 3:30:38 PM): it is below 4698..but above 4688....... gauresh59 (1/6/2012 3:31:01 PM): means below lowema but above sar...we have to wait till breach of sar and for its conviction gauresh59 (1/6/2012 3:31:22 PM): please wait i will explain sreenivas reddy (1/6/2012 3:31:32 PM): sure sir pzzz gauresh59 (1/6/2012 3:34:56 PM): see in case of SAR technique. price moves up hitting SAR ..goes up and up... gauresh59 (1/6/2012 3:35:50 PM): during correction it comes down ...and down ...touch SAR ..goes below few points SAR and then again bounce back crossing SAR again from below ..... gauresh59 (1/6/2012 3:36:01 PM): at that time SAR works as support.... sreenivas reddy (1/6/2012 3:37:10 PM): ok gauresh59 (1/6/2012 3:37:30 PM): in today's case daily low has been broken from yesterday...the trend is looking weak since yesterday....still it has closed above its intermdiate resistance 4755...and hence we remained long ... gauresh59 (1/6/2012 3:38:24 PM): though it is below daily lowema, it is above SAR...above intermediate resistance ...we prefered to carry long... gauresh59 (1/6/2012 3:39:54 PM): but today's opening remained weak it broke intermediate support of 4720/10..and hence we only cut our longs except the one lot just to manage the position and remain safe...see we cut our longs at 4735.... gauresh59 (1/6/2012 3:40:24 PM): now it declined...and breacked daily lowema again....but not SAR... gauresh59 (1/6/2012 3:41:18 PM): but when it made 2-3 candles closing above daily lowema we again went riskly long at 4703 with sl of only 13 points ... gauresh59 (1/6/2012 3:42:18 PM): then it remained sideways...and...when it crossed low of ORB 4730 ...conviction came again... gauresh59 (1/6/2012 3:42:34 PM): we booked at 4731......and waited ... gauresh59 (1/6/2012 3:44:21 PM): it declined again few points and we put stop loss buy order at 4737.....then when it triggered...we firstly became safe at by partial booking at 4660 ...and again at 4775 and then when it reached the peak ...we booked at 4805..keeping only one long lot .... sreenivas reddy (1/6/2012 3:51:24 PM): going thru the content and digesting slowly gauresh59 (1/6/2012 3:51:31 PM): ok sreenivas reddy (1/6/2012 3:54:39 PM): got for todays way how it was done sir .....

Temper Control

Temper Control There once was a little boy who had a bad temper. His father gave him a bag of nails and told him that every time he lost his temper, he must hammer a nail into the fence.   The first day the boy had driven 37 nails into the fence. Over the next few weeks as he learned to control his anger, the number of nails hammered daily, gradually dwindled down.   He discovered it was easier to hold his temper than to drive those nails into the fence. Finally the day came when the boy didn’t lose his temper at all.   He told his father about it and the father suggested that the boy now pull out one nail for each day that he was able to hold his temper.   The days passed and the young boy was finally able to tell his father that all the nails were gone. The father took his son by the hand and led him to the fence.   He said “you have done well, my son, but look at the holes in the fence, it will never be the same.   When you say things in anger, they leave a scar just like this one.”   You can put a knife in a man and draw it out. It won’t matter how many times you say I’m sorry, the wound is still there.   Make sure you control your temper the next time you are tempted to say something you will regret later.