Gotcha!!

"And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance"

- Legendary Trader Jesse Livermore

When I read these lines first time, I skipped it as usual which I normally do after reading such famous quotes :).. When I started shaping up as a trader, I understood the pain which this man should have gone through before writing these lines.. And today is the day, I really feel the power of this quote..

What a trading week..It cannot be better than this ever in life!!.. Entire globe is bleeding.. every index and commodities are crashing like there is no tomorrow.

Ok, am i seeing this first time? nope, still had the nightmare of lehman brothers collapse days.. but this time, it's different. am staying on the right side.







YES. Had shorted both crude oil and copper well before the vote session on debt ceiling at U.S parliament..

Crude oil was originally shorted at 4299 and it is now trading at 3579 with 720 points profit.300% returns from capital.


Copper was originally shorted at 436 and it is now trading at 396 with 40 points profit (200% returns from capital)

No stop loss hit in between for both the above trades.

In the same week, Nifty had lost 500 points which translates into 100% returns.This is what I love about commodities. If you are on right side, you can make smart money.

Ok.. how much I have pocketed!! Not bad this time.. Had taken enough cut from the fall.. but should have sat tight.. Had to square of the positions due to heavy work load at office and having doubts of bottoming out. System still stays in short and I must have also stayed. But, very happy to realise that having a system in place which can really take you to the path of glory if you are disciplined!!.Yes, i remind myself to be more disciplined which is nothing but sitting tight!!