Please see my yesterdays email. I had written that all over the world the stock markets are going up. In fact Dow Jones one of the main stock market Index of USA has hit a record high yesterday.
Yesterday it closed even higher. Dow and S&P 500 hit fresh records. It looks like traders there are seeing Donald Trump win as a positive sign for business in USA.
I had also written that Indian traders follow the US markets. The results is in for all to see. Today Nifty is up by 1.44% currently at 8218.75 (08-Dec-2016 at 1.11 pm).
Since last few days I was giving some advice to my course subscribers which was different form my course and they must have made good profits there too.
RBI rate policy: It is strange that the Reserve Bank of India (RBI) on Wednesday kept benchmark rates unchanged, still stock markets in India are going up. So why still Indian stock markets are rising? This is the US effect, not the India effect.
Sometimes, in fact most of the times, I see that logic works more than what Technical Analysis says in stock markets. Due to the 500 and 1000 notes demonetization effect most Technical Analysis were saying Nifty may see levels of 7600 or below. Fact is it did not even break 7900. In my view most Technical Analysis do not make money.
This is the reason I believe in thinking about most traders mindset on what they may trade, rather than what the experts are saying on TV or what a brainless software tells you to trade.
Neither experts talking on TV nor any TA software has the power to control millions of traders.
If you go deep into it. Only 1% of traders see them and listen to them carefully, and out of that 60% ignore what they are saying. So how can they be correct if traders are not doing as they are saying?
If you do not believe me follow any TA expert on TV and do a paper trading on their advice. Within months you will see that what they tell does not make money. So why they are shown on TV? To get eye balls, to increase the Television Rating Point (TRP), and to make more money via advertising slots.
So if you really need to make money trading only way out is to educate yourself as much as possible on stock markets.
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