Me not throwing muck in response over the past few weeks was a concious choice. Have my own trades and have responsibility to my students.
But my silence is now being construed as a sign of weakness, so just setting the record straight
Mr. Kora Reddy and Sushil Kedia has kindly named me #datagandu. Since they have used the term "data", I shall speak and answer allegations with data.
No throwing muck in the air out of nowehere.
First allegation : I was a clerk in ATMA under Sushil Kedia for 35k per month, I begged for the job and was "fired" or " kicked out" by Sushil Kedia
Sushil Kedia was after me to take a job at ATMA
Email with job offer and salary offered
Clerk or board member ?
Kicked out ?
I resigned on the 20th or 22nd day. Check the dates of my resignation letter
Now comes a google hangout chart screenshot from a year earlier. Will give you an idea how I was tracking OI , tracking option prices and making those same tactical predictions on Nifty which was surprising these analysts.
In 2014 , with 75 lacs, I was running my own trading operation, which I proudly called my own hedge fund. Why I shifted to Mumbai for an ATMA job I can show thru a very personal email too, sent to Kedia. But that email will divulge his personal info, hence will hold as of now
Lastly, I don't consider the word "clerk" as derogatory. My father died when I was 11, my mother was a school teacher, till the age of 18 we stayed in a rented apt.
Being a clerk earning an honest salary is considered to be a good and ethical life.
One of my ethics till date was to never divulge personal chats or emails without permission. These people have forced me to break my own ethics, and I feel sad for that. I hope this is a one time event and I am not forced to repeat .
Sushil Kedia made this tweet, make what meaning you can from this tweet. My upbringing and ethics forced me to protest, I will do it again.
This attack against me is Kedia's attempts to create a ruckus and shift focus from his misdeeds
And for the last week, continuously disturbing and harassing me thru sms ( I am not picking up his calls, blocked him on whatsApp)
And yes, I am recording that space with a lawyer sitting with me ( paid by the hour ).
BNF showing long liquidation while NF showing long buildup. In my experience, whenever the two indices shows divergent behavior, it's very difficult to cleanly trade the indices. We are probably starting a time-price correction
Traders will do best if they let this scenario resolve over the next few days before trying to trade the next trend move. Everyone makes money in a trending move but majority give back during this congested times. So, I will stand aside and give time to markets .
Some excellent responses to this thread on how people manage risk. Let me outline my process. I will write it step by step, break it down and explain my logic. Not necessarily these are iron rules, feel free to understand and then add/modify what suits you.
So let's repeat the scenario again. You are with an overnight position, the market opens huge against you ( long or short does not matter). What do you do then?
Step 1 : start the relaxation technique as outlined in earlier thread.
Now these are your choices : 1. Double the position, averaging with hope that a slight favourable move will reduce your losses 2. Totally reverse the position, say from long to short 3. Cut the full position 4. Cut half ( "when in doubt, cut half position ") 5. Keep holding
Grab a cup of coffee and read on, I hope this will be a very interesting topic to discuss.
What do you do when you have a position over night and the market gaps significantly against you?
( you are looking at significant M2M loss)
I have faced this scenario quite a few times in my life, which is normal when you are in the markets for 20 years. 😃 When this happens, this is what I felt : 1. Heart starts racing ( your heart beat actually increases) 2. Body tenses up 3. You start breathing fast
There is a physiological explanation for this. Humans are genetically programmed to get into fight or flight mode when in danger.
More here : health.harvard.edu/staying-health…
Had a M2M loss of around 4.75 lacs( large positions in TaMo and ITC). As usual BNF came to the rescue and losses got covered. Now much more managable. Might even close for the day, a bullet dodged
I don't show my positive M2M as a policy. Shared this just to show that even with the best analysis, one may get trapped and lose. Important is to keep losses in control
Oh, some in TaMo PE too. Sqed off the backspread when I gave on twitter, at 474. Bought 490PE naked , that also worked out
I am going to teach you about my super secret indicator, always 100% accurate.
Grab a cup of tea/coffee or your fav glass of tipple
Soma days like yesterday, when the data gives a view totally against the apparent consensus view, it gets difficult to take a trade on that view. Specially if one has to share the view on national TV.
These are the days I turn to the indicator
There is this gentleman, who thinks he is god's gift to TA who posts his views on twitter ( he is also on a national channel 😉😉)
His normal bakwas is cryptic, means whether we go up or down he will claim he said so. Like " short term we may go down but longterm trend is up"