here is an interesting one.
A: Whats view for mkt tomorrow? I heard your view on nifty went went right yesterday?
Z: Seems some more selling and then some consolidation.. trend looks down over the next few weeks.
A: How come you say for weeks.
Z: this is insight which elliott wave gives. A strong down impulse would lead to one more such down impulse. Though I am not sure.
A: why not sure? if not sure how can u trade?
Z: I am never sure. I just take my chances.
A: So whats ur target?
Z: dont have a fixed target.
A: then where would you cover shorts?
Z: dont know for sure. would look at intraday patterns.
A: Anything to short for tomorrow?
Z: Dont know.
A: You say mkts are weak, cant u suggest one short?
Z: What if my idea fails?
A: Give me one sure shot shorting idea
Z: I dont have sure ideas.
A: How long you doing trading?
Z: Since some time.
A: you cant give one sure trade? If not why not?
Z: Nothing is sure and having traded for long time doesnot remove the inherent uncertainity in mkt moves.
A: Whats "inherent uncertainity"?? talk simple yaar.. tell me what to short..!
Z: means one cannot get very sure of anything in mkts.. my giving a few trades to you wont help you.
A: Why wont it help?
Z: Since 30-50% of my trades fail.
A: What 30-50% failures? Man did u make any money trading? How can u trade like this? In the tips my friends get they guarantee 95% success rates.
Z: My losing trades are small and winners take care of them and give me my profits.
Dont know for 95%.. I have never seen anyone do that.
A: Man.. my friends said you could help me. You only talk confusing.
Z: This is how it is. Nothing is for sure. U have to take measured chances. and take small positions.
A: Why small? I like large positions.. Full thing in/out. Small karke maja nahi aata.
Z: That would slowly lead to capital erosion.
A: Yeah I got stuck 2-3 times. Had to get fresh money in.
Z: ok. spend some time thinking of risk. That may help.
A: Kya yaar, all this risk and all. :(( Give me a few tips, I need to make up my stuck money. help me if you can and if you know how to trade.
Z: Trading is difficult. Making up lost money is even more difficult.
A: then what do I do?
Z: Dont loose money.. play safe always.
A: Yaar safe karte karte kafi din trade nahi kiya... Phir thora kiya and made little...and my friends made a lot on their tips... and when I did large i got stuck.
Z: Hmm.. Trading is difficult.. you also see that. How is your friend doing now?
A: I think they got stuck in this dump. they are also asking the person who gave them tips what to do.. seems all tips have stopped.
Z: Oh ok. mkts are preety nasty stuff. Does shakes up from time to time.
A: What do you suggest? What to trade.
Z: I suggest you take time out to read. Trading can wait.
A: How do I make money yaarrrrrrr..
Z: Preserve your money first.
A: Damn.. waste of time to talk here.
Z: sorry for that.
A: Anyway, What do you suggest to readddddd :((
Z: Something which gives you edge and you can digest.
A: GIve me some name?
Z: read on patterns, momemtun, elliott, and dont ignore risk part. risk is most imp.
A: ok chal yaar.. i cant read so much. thanks for everything.
Z: ok.. see ya.
A: if you got some hot tips.. pass kar dena.
Z: okie.. will try.