Book recommendations

Follow https://www.upsurge.club for more information

By far this is the best explanation about what it takes to be a successful trader. 👏👏

I just upgraded to #ChatGPT4 paid version. This is really super cool. As a trader who spends maximum amount of time with data analysis, this tool really saves a lot of time and effort. Absolutely in love with it. Few years down the line, the one who has the right skill set of getting what he wanted from AI could tremendously outperform his peers.

Market tanks suddenly, PE sky rocketted in few mins 😳

Decades ago, China and India's GDPs were neck and neck, reflecting their similar starting lines post-independence. But as we fast-forward, China's meteoric rise to a trillion-dollar economy is a masterclass in economic reform and investment. Meanwhile, India's progress, though significant, trails, underscoring a need for a similar strategic leap. #ChinaVsIndia

In this video, I have explained how to use ChatGPT4 to analyse historical data of Nifty.

https://youtu.be/QVuxnosg2dU

Today is not BankNifty expiry, monthly expiry happens on last Thursday of every month. Tomorrow is BankNifty & Nifty expiry. Plan your trades accordingly.

If there is one quote that had a profound impact on me is this one from Charlie Munger.

“Knowing what you don’t know is more useful than being brilliant."

#RIPCharlieMunger

How to Manage Your Risk
https://youtu.be/yUopkqs3NL4

Here’s the trades I took 15 years ago with Sharekhan. Just found the contract notes in my book shelf. Bought Unitech at 523₹ , DLF @ 1190₹ 😳. It was the end of crazy bull run period, market peaked at Jan 2008, exactly when I entered as a newbie.

When volatility is extremely low, possibility of black swan event goes high but in order to capitalise it, we need to go through series of small losses. Nikhil Kamath explained it well about how Naseem Taleb handles the black swan events.

Everyone have access to Trading Strategies now but still there is something everyone one of us miss. I learnt what it is after wasting 5 years of my life in it, I have shared my mistakes & learnings in this video.

https://youtu.be/nzfyr9CA-Xs

How to Acquire Trading Wisdom?

1. Trade Live
2. Make Mistakes
3. Learn from your mistakes
4. Repeat Steps 1-3 until Wisdom is acquired.
5. Realize that the wisdom you acquired in step 4 was not really wisdom at all. This realisation brings new wisdom.
6. Repeat Steps 1-5

I have seen many people get stuck in Step 4, without knowing they got stuck there. As they say, “first rule of the Dunning-Kruger club is you don’t know you’re a member of Dunning-Kruger club.”

Knowing what you don’t know is really important than knowing what you know.

The moment traders get into Step 5, the real turnaround happens. That’s when a trader move into Arrogance to Acceptance zone. Then slowly trading becomes lot more comfortable, neither profit excites you nor loss bothers you anymore.

So ask yourself which step you are in now?