Diwali is one of the most famous festivals of India. It has no geographical barrier and every Indian whether in India or abroad celebrates it with full fun and frolic. This festival is celebrated to mark the victory of good over evil. Diwali brings the festive season in India. It is celebrated for 5 days as Dhan Teras, Choti Diwali, Lakshmi Puja, Govardhan Puja, Bhai Dooj.
On Diwali people spend lavishly on crackers, Sweets and new clothes.
Once Look @ The price
Copper & Aluminium & Lead Blast In Single Session
Copper 416 to 422
Lead 118 to 120.50
Aluminium- 105 to 108.
The Euro Mess is as messy as ever. However, bond yields have remained relatively low in Spain and Italy thanks to ECB President Mario Draghi’s promise to provide unlimited liquidity to both countries as soon as they ask for bailout funds from the European Stability Mechanism, and accept its conditions. So far, neither country has even asked for help from the ESM.
Hard Soft Landing
China seemed to be heading toward a relatively hard soft landing during the summer. Beijing responded with a mini-stimulus, cutting interest rates twice in June and July and stepping up investment by state companies and spending on building airports and other public works. Chinese data released for October suggest that the recent round of monetary and fiscal stimulus may be working:
(1) Industrial production rose 1.4% m/m and 9.6% y/y to a new record high. Retail sales rose 14.5% y/y. Auto sales rose 6.4% to 1.3 million vehicles, rebounding from September’s 0.3% contraction. Investment spending rose 25.2% y/y.
(2) Exports rebounded 2.1% m/m during October, very close to the record high earlier this year during May. This is an encouraging development since it confirms our view that the global economy may be slowing, though still growing. Also on the upbeat side was the 6.1% m/m increase in imports.
The rebound in Chinese exports during October was led by a 2.1% increase in exports to the rest of the world, i.e., the total excluding the U.S., EU, and Japan. These exports now account for a record 61% of China’s exports, up from 50% six years ago. China’s recent dispute with Japan may account for some of the weakness in trade between the two over the past couple of months. However, China’s exports to Japan are down to only 7.2% of the country’s total from about 16% 11 years ago.
After made @ New High 4759
Now Trading @ 4735
Its Our Jackpot Call
Updated At 8:12Pm 12 /Nov/delhi/india
Our Subscriber Is Long Aluminium @ 104
With the Stoploss- 102.50
Updated At 10:40Am 12 /Nov/delhi/india
If not cross 11800 & Stay below 11600
Then Problem For Bull Rider
Double Top Has Been Made On Daily Chart
So Can Wee panic Upto-11336-11280 ??????????????
Will Update You More Tomorrow Morning
Updated At 10:58Pm 11 /Nov/delhi/india
Investors took up positions on sentiments under President Obama, the Federal Reserve will stick with its loose monetary policies that have weakened the dollar to drive recovery.
On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were up 0.37% at USD1,732.35 a troy ounce, up from a session low of USD1,727.05 and down from a high of USD1,738.75 a troy ounce.
Gold futures were likely to test support at USD1,727.05 a troy ounce, the earlier low, and resistance at USD1,738.75, the earlier high.
During the presidential campaign, President Obama’s Republican challenger Mitt Romney said he opposed the Federal Reserve’s loose policies, including quantitative easing, under which the Fed buys bonds held by banks, pumping the economy full of liquidity to depress borrowing costs to spur recovery, which weakens the dollar as a side effect.
Fed Chairman Ben Bernanke’s term ends in January of 2014, and a Romney victory could have increased the chances that today’s head of the U.S. central bank would have been replaced by a more hawkish figure.
An Obama victory quashed such talk, which sent gold prices rising.
Elsewhere, French industrial production fell 2.7% in September, way more than market calls for a 1% decline, and off from 1.9% gain in August.
In Italy, industrial production dropped 1.5% in September, slightly worse than expectations for a 1.4% drop and way below a 1.7% increase in August.
The data sent the euro falling as did Greek financing concerns, which fueled safe-haven demand for gold.
The country hopes to tap a EUR31.5 billion tranche of aid after pushing through austerity measures that aim narrow deficits.
Investors are waiting for the Greek parliament to vote Sunday on its 2013 budget.
The budget must be passed to tap rescue funding packages.
Elsewhere on the Comex, silver for December delivery was up 1.22% and trading at USD32.633 a troy ounce, while copper for December delivery was down 0.75% and trading at USD3.443 a pound.
In U.S. trading on Friday, EUR/USD was down 0.26% at 1.2714.
French industrial production fell 2.7% in September, way more than market calls for a 1% decline, and off from a 1.9% gain in August.
In Italy, industrial production dropped 1.5% in September, slightly worse than expectations for a 1.4% drop and way below a 1.7% increase in August.
The data sent the euro falling against the greenback as did Greek financing concerns, which sparked a risk-off trading session that was broadly bullish for the U.S. currency.
Athens hopes to tap a EUR31.5 billion tranche of aid after pushing through austerity measures that aim to narrow deficits and appease creditors.
Yet the country’s parliament must still approve its budget for next year, with voting scheduled for Nov. 11.
Lawmakers must approve a budget to tap rescue funding packages.
The dollar, meanwhile, continued to see safe-haven demand over growing fears the U.S. may drive over a fiscal cliff next year.
At the end of this year, tax breaks are set to expire at the same time cuts to government spending are scheduled to kick in, a combination known as a fiscal cliff that could send the country into a recession next year if left unchecked by Congress.
Fears Democrats and Republicans will engage in partisan bickering and fail to compromise continued to quell appetite for risk on Friday, which was bullish for the dollar.
The greenback, meanwhile, was up against the pound, with GBP/USD trading down 0.52% at 1.5901.
The dollar was down against the yen, with USD/JPY trading down 0.05% at 79.43 and up against the Swiss franc, with USD/CHF trading up 0.27% at 0.9484.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD trading down 0.04% at 0.9998, AUD/USD down 0.12% at 1.0392 and NZD/USD trading down 0.03% at 0.8146.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.25% at 81.10.
1. Trading for excitement & thrill Not for profits.
Many traders consider stock market as casino and trade for thrill and fun only. As soon as one has a losing trade, he wants to quickly make back the lost money. He thinks about the other things he could have done with the money, regret taking the trade and want to recover as quickly as possible. This in turn leads to further mistakes. Be patient and wait for the next high probability opportunity. Don’t rush back in.
2. Trading with a high ego.
Many individuals who have remained highly successful in other business ventures have failed miserably in trading game. Because they have a fairly big ego and thought they couldn’t fail. Their egos become their downfall because they can not except that they would be wrong and refuse to get out of bad trades. Once again, whoever or wherever has any one come from does not concern the markets. All the charm, powers of persuasion, number of degrees & diplomas of business management on the wall or business savvy will not budge the market when you are wrong.
3. Three 4-letter words that will kill you! HOPE–WISH–FEAR–PRAY
If you ever find yourself doing one or more of the above while in a trade then you are in big trouble! Markets has own system of moving up & down. All the hoping, wishing and praying or being fearful in the world is not going to turn a losing trade into a winning one. When you are wrong just use a simple 4-letter word to correct the situation-GET OUT!
4. Trading with money you can’t afford to lose.
One of the greatest obstacles to successful trading is using money that you really can’t afford to lose. Examples of this would be money that is supposed to be used in any other business, money to be paid for college/school fee, trading with borrowed money etc. Ultimately what happens is that when someone knows in the back of their mind that they are risking the money they can not afford to lose, they trade out of fear and emotion versus logic and no emotion. If you are in this situation It is highly recommend that you stop trading until you earn enough to put into an account that you truly can afford to lose without causing major financial setbacks.
5. No Trading Plan
If you consider yourself a trader, ask yourself these questions: Do I have a set of rules that tell me what to buy, when to buy and how much to buy, not just for the next trade, but for the next 10 trades? Before I enter a trade, do I know when I will take profits? Do I know when I will get out if I am wrong? These questions form the first part of a trading strategy. There simply cannot be any expectation of success if we can’t answer these questions clearly and concisely.
6. Spending profits before you make them.
Nothing is more exciting then getting into a trade that blasts off and puts you into a highly profitable situation. This can cause major problems however, because this type of trade puts you in a highly euphoric state and leads to daydreaming about the huge profits still to come. The real problem occurs as you get caught up in the daydream and expectations. This causes you to not be prepared to get out as the market reverses and wipes off all your profits because you have convinced yourself of the eventual outcome and will deny the reality of the situation. The simple remedy for this is to know where and how you will take profits once you enter the trade.
7. Not Cutting Losses or letting Profits run
One of the most common mistakes made by traders is that they let their losses grow too large. Nobody likes to take a loss, but failing to take a small loss early will often result in being forced to take a large loss later. A great trader is not someone who has never had a loss. Great traders have made many losses. But what makes them great is their ability to recover quickly from a string of losses. Every trader needs to develop a method for getting out of losing trades quickly. Research and learn to apply the best methods for placing protective stoploss orders. The only way to recover from many (small) losing trades is to make sure the winning trades are much larger. After a series of losing trades, it becomes difficult to hold a winning trade because we fear that it will also turn into a loss. Let your profitable trades run. Give them room to move and give them time to move.
8. Not Sticking to your plans & Changing strategies during market hours
If you find yourself changing your strategy during the day while the markets are still open, be mindful of the fact that you are likely to be subject to emotional reactions of fear and greed. With rare exception, the most prudent thing to do is to plan your trading strategy before the market opens and then strictly stick to it during trading hours.
9. Not knowing how to get out of a losing trade.
It’s amazing that most of the traders don’t have any clear escape plan for getting out of a bad trade. Once again they hope, pray wish and rationalize their position. It must be kept in mind that market does not care what you think. It does what it does and when you are wrong you are wrong! The easiest way to keep a bad trade from going really bad is to determine before you get in, where you will get out.
10. Falling in love with a stock (Just Flirt).
Many traders get fascinated by just a stock or two and look for opportunities to trade in those stocks only ignoring the other profitable trading opportunities. It is because they have simply fallen in love with a stock to trade with. Such tendencies can be suicidal as for as trading is concerned. It may cost any one dearly.