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I think got to know you in the 1990s in the ring of the old Bombay Stock Exchange and 20 years since then there's one Maxim that stands out about you that you've said it in innumerous parties bars in the ring and I'll say it in colloquial and then translate it in English says vad that means buy as the market is rising sell as the market is falling what is the wisdom in that and how do you use it see R 20 I don't think for a good Trader we can I think we don't initiate more than 40% of Trades which are right right suppose I'm bullish say on XY that stock now I buy that stock if it goes up it's a indication of the fact that I'm right and you know we we we do what I call is pyramiding I buy a stock at 100 I buy more than 105 I buy more than 110 so what are markets what is trading is basically momentum so you play momentum so if the market is rising it's momentum is upwards so you buy On The Rise the markets are going down you sell on the sell on the fall and this I don't mind I don't indicate in long-term trends and you know medium-term turns and shortterm Trends this applies to short-term Trends medium-term Trends and long-term trends so you should never average a losing trading position well at your own cost never I at least I never do it that's a huge mistake isn't it unless and until you know we believe the B St at 90 and I feel you know it's going to it's going to have a big upside and you know the fall is 4 5% I might aage or temporary but as a rule in trading I will never ever average but uh Rakesh are you been saying that a good Trader should have this highest position outstanding at the highest price absolutely why not who knows what is the highest price it's counterintuitive though isn't it I mean most people good profits that's why out of 1 million Traders only 9 90 or 100 really make money what would we look for I would look for first of all look for broad d don't try to be an expert don't try to predict every move every hour every day right take a loss know what to stake right I think this is I think I I mean I feel confident to trade anywhere in the world all what you need to have is a broad direction of the trend right a very broad idea don't TR you an expert in it right know what to St and when to take a loss ra most people can't hold on to trading profits right is that isn't that the big problem the well it's a problem but who knows you know I don't know I watch on this TV targets what are targets who can predict anything see when I buy a stock that comes a level at which I also feel that the price is unreasonable but at that moment I'm alert that unreasonableness has to be combined with technical you know technical weakness then only is you know then is only the move exhausted so what is the profit that the lower tops for example or poor volumes or bad price action absolutely like General Trend and you know the general belief of you know just believe in the market just go up there's no tomorrow trees don't go to the sky raak the other thing that all good Traders always pronounce is know how to take a loss why is that so important in um your because see nobody can predict momentum it can turn we never know you know all big moves start with with small moves right and therefore the price is the first indicator of what is coming so if if I if I do a trade so exped stock at 100 and it goes to 120 and I buy more don't worry by the time is 90 be all squared up you you take get unes you know I mean I can't sleep I can't eat I get such ones and sometimes the market is against me I'm uneasy up 9:15 and 9:45 squared off you're fine in my career also I own money in trading it's not that every year I made money M I made it in sports right and I made it in certain periods 89 to 92 2003 to 2007 2009 10 101 has been a good year so I made it in SPS say 94 to 99 I would have made any trading income the idea is always as you said you know to when the iron is hot strike absolutely don't try to make 50,000 rupes a day and we are not earning in trading by employing billions of dollarss in trading my net capital employed in trading is 1 lakh so if I earn say even if I even earn one CR you can't imagine the return on Equity right cuz everything else is borrowed and I pay interest on it so my real capital capital of my partn form is 1 L really that's interesting so it's your leverage you don't capital I put my and my wife's assets and borrow money and I use that you want to trade you trade trade is for creating capit investment is for growing that Capital don't confuse them right because in trading the risk is Extreme in investing wealth risk is not extreme see most people say they are investing but actually their mind is of a Trader that they want to create you can create un unimaginable return in trading I don't say that in trading I can tell you one thing if if 10 lakh trade 9 lak 99,99 say they make and 999,9 that me you a brok than me
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