FINDING OPPORTUNITIES IN THE MARKETS.
Most of the time in the markets, we never know what is the right answer right now. Will this buy work out? Is this the right time to sell or buy? Should I continue to hold or bail out? Is this much profit enough? Can I risk some more? These and many such questions are the ones that we are besieged with whenever we trade or invest. There is really no one answer to any of these questions- that is the real answer! Each of them can be answered in two opposite ways- and both could be correct! You see, the correctness or otherwise, is to be decided by what happens in the future- and that no one knows. There are far too many factors that influence each one of our futures and hence which of the choices turn out to be correct or wrong is very difficult to know.
However, the problem is that we have to act right now. For that, we have to decide right now. So, we go on our hunches, our gut feel, or seek out some information to help us decide. Note that hunches and gut feels are also based on what we already know. Some people think that that a gut feel or intuition is something external- something that just ‘came’ to them in that moment. It is never that way. Those intuitions arose based on what you already knew and how you interpreted what was going on around you at that moment.
But there are many who are unable to do even this. For them, some external support is necessary. This is why you build a network or seek advisors or these days, use technology. The background for developing my software Neotrader was exactly this. Good trades, good entries or good exits are never given to us by someone else. Often times, we stumble upon it. If you are waiting for someone to give you that wealth building tip, it is not going to happen. But if you are searching for it actively-exploring and moving within your circles, engaged in the pursuit of good stocks, then you will stumble upon many opportunities.
To help traders and investors “stumble” into good opportunities, Neotrader (and other software like it) are designed to provide you with many such potential opportunities as the software scan through the entire market and come up with a handful of names that hold a higher probability of success. This approach is a more recent one. Prior to this, traders were using another technology, the charts. They would look through a large number of charts, using different time frames too, in order to find the opportunity. But that is hard work and takes time too. So, traders would restrict themselves to a few names, thus missing out countless other opportunities that may be available at the same time. In options too, they concentrate on the near the money strikes in Index options, leaving out the vast number of opportunities that lie with other index strikes and stock options. Thus, charting, while an effective way of finding an opportunity is a less efficient way of doing so.
Many times in life the question is not whether to do one thing or another, but when to emphasize one aspect over another. For e.g., if one had concentrated on Adani group stocks over the last few months, the amount of money that could have been made would be more than many other stocks put together. When you take any trade in any name, it has the same uncertainties as another. But the way the future unfolds and the way the stock behaves through that unfoldment shall decide the extent of gains that can accrue from the trade. Here is where a far superior software like Neotrader scores over the other similar products. I have built in several additional features into it that will detail to the user how to measure the progress of a trade once you have taken it. By learning this one can know which trade to emphasize on and which ones are the routine ones. Thus a superior software like Neotrader can help you get far better returns. This is how technology has to be harnessed to solve our problems in the market.
Many traders, not being able to solve this, remain dissatisfied with their performance in the markets, even if they are making money. They know, given their smartness, skill, network, knowledge etc. that they should be making more than what they are doing currently. So every profit made becomes a source of regret! Instead of focusing on the fact that they made some money, they lapse into the regret of how much more they could have made! Isn’t that ironical? But it is also a fact.
Some people take this to an extreme by turning fatalistic- that they are not ‘destined’ to make money in the markets! They stop making the effort. And when you stop making efforts, then you also stop finding new opportunities! Our moods and emotions can tire us out, reduce our energy levels and bring down activity. But a software has no such problems. Switch on your computer and it will draw as many charts as you wish. It will scan as many stocks through as many methods as you wish. It will give you as much fundamental information about a company as you seek. There is no tiring with a machine and that is its main asset.
So, being present in 2022, where technology is now almost putty in our hands, not using it to our advantage is almost a crime! When opportunities can be made to show up at your doorstep, why should you become despondent or lose out? It is time to bring every advantage there is out there to play for you. Know that the competition is getting intense. While the size of the market is expanding, so is the competition. And this is going to remain into the future as well. If you don’t use technology, you are going to get left behind. Soon, you will be so far behind that it will seem like your future is just someone else’s past- and you will never win the race.
Our motive for being in the market is to make money. But we must find the motivation to remain and flourish in the market. To sustain that motivation, we must develop abilities. Today, technology increases the ability to withstand and trump over competition. We also must seek understanding, of how these two elements go hand in hand (i.e. technology and ability). Understanding helps us to work our abilities better. When you are able to work better, it will give you confidence and that shall complete the loop – by taking you back to motivation! The success you have, greater shall be the motivation.
This is the success loop that you need to build. Note that each portion of the loop has to come from you- motivation, ability, understanding and confidence. Technology is a key external element that you have to introduce to held connect all the other parts to create the success. For successful trading, good charts, good scanning software, good trading terminal, good internet connection, good banking connectivity etc. etc. are all the technology inputs that will help you succeed. My Neotrader is an important cog in that wheel.
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Good one and well said