Ashu Dutt > Quotes

“Set aside some money you can afford to lose before you begin trading. The money you set aside for trading should be about six to twelve months of your current salary or your current earnings.”
― Ashu Dutt, Trading The Markets For A Living

“When you’re trading well, you have a better mental attitude. When you’re trading poorly, you start wishing and hoping. Instead of getting into trades you think will work, you end up getting into trades you hope will work.” — Randy McKay CANDLESTICKS ARE THE SINGLE MOST IMPORTANT TYPE OF CHARTS. They”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“Stocks only move on the force of money. If”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“When the stock is not moving in the direction you expected it to.  When your stop losses are triggered.  When you don’t feel confident about the stock you are trading.  When you have a neat profit on a stock but have identified another stock which you expect will do even better.”
― Ashu Dutt, Trading The Markets For A Living

“One reason why many types of technical analysis don’t work too well is because such methods are often applied indiscriminately. For example, if you see a head-and-shoulders pattern form in what is the market equivalent of a twenty-year-old, the odds are that the market is not likely to die so quickly. However, if you see the same chart formation in the market equivalent of an eighty-year-old, there’s a much better chance of that pattern being an accurate indicator of a price top. Trading the market without knowing what stage it is in is like selling life insurance to twenty-year-olds and eighty-year-olds at the same premium.” — Victor Sperandeo”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“The first goal should be to recover the original trading capital you have put in. You must get your original capital out as soon as you can. If you started with 1 lakh and you are down to 90,000 or 50,000, don’t pull out the principal. If you are up to 1.5 lakh, pull out 50,000. You will see your trading performance improve as soon as you have withdrawn your principal. After that, set a goal to withdraw 20% of your gains if your money doubles. Removing money regularly is similar to putting away savings from your salary.”
― Ashu Dutt, Trading The Markets For A Living

“His work is not worth his time, risk and expenses if he does not complete all the three parts.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“If you buy because you think the market should bounce, but it only goes sideways, you’d better get out. Part of the trading process is a matter of testing the waters. If your entry timing is good enough, you won’t lose much even when you're wrong.” — Linda Bradford Raschke”
― Ashu Dutt, Trading The Markets For A Living

“study charts of different time periods.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“Swing trades typically last 2 to 5 days, or a bit longer.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“In such stocks, you will see manipulated cycles of accumulation and distribution which are usually driven by the deliberate effort of a group of people usually acting in concert with those who control the stock. Penny stocks, or stocks which have low prices, and stocks where retail interest is the highest are susceptible to manipulation. Manipulation”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“A typical operator takes weeks to accumulate the stock and also getting others to hold the stock for him, and then buying the stock out from”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“For low risk trades, prices and volumes must rise consistently for at least two weeks. Avoid making trading decisions based on a single day’s price rise or a single week’s price rise. A short term price rise can be driven by a large lot of the stock being bought by institutional investors or by the non-availability of enough stock to make up for a large order.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“When people say I “day trade”, I am a little baffled. Why stress yourself? Soak in the sun, relax. There are”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“The element of manipulation need not discourage anyone. Manipulators are giant traders, with deep pockets. The trained ear can detect the steady ‘chomp, chomp’, as they gobble up stocks, and their teeth marks are recognized in the fluctuations and the quantities of stock appearing on the tape. Little traders are at liberty to tiptoe wherever the food trail leads, but they must be careful that the giants do not turn quickly on them.” — Richard Wyckoff in The Day Trader’s Bible”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“ETFs will continue to put money, etc. etc. — is the single biggest reason for not making money, or losing money, in the markets. We have no control over this beast and all we can do is to interpret its next move to the best of our ability.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“You can now do what you love in the hours that you choose — and make more money than you ever imagined doing so. What’s more, you will have the spare time to spend with those you love and pursue other things you love.”
― Ashu Dutt, Trading The Markets For A Living

“Every day I go in without an opinion . . . and I let the market tell me where it wants to go . . . opinions are what get you in trouble.”
― Ashu Dutt, Trading The Markets For A Living

“This is called the “distribution” phase. That”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“CHARTS ARE NOTHING BUT THE REPRESENTATION of our collective psychology. At the simplest level, if a majority of money flows into buying a stock, the stock will head up — and if it flows into selling the stock, the stock will head down. Money may flow out of the stock today, but into the stock tomorrow; and out of the stock for a week but into the stock for the long term. The charts mark all that.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“We “want” the stock to go our way. That is a very dangerous feeling. It is a feeling that may not match with the market’s mood. And in a battle between the market’s mood and our feelings, the market will always win.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“Shut that 24-Hour TV Noise “Trading is a psychological game. Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself. You have to stop trying to will things to happen in order to prove that you’re right. Listen only to what the market is telling you now. Forget”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“During trading hours, trade either from a closed room where there is no disturbance, or from your office. Don’t take calls and don’t seek opinions about stocks once the trading day begins. Get a brokerage account with a terminal where you can pull out all charts of all kinds of time periods, namely day charts, weekly charts.”
― Ashu Dutt, Trading The Markets For A Living

“Don’t sell a winning stock if it is crossing all resistances or if it continues to rise on strong volumes. The first sign to sell is when the volumes start to dry up and the stock stops rising, or the pace of rise drops.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“You Don’t Need the Terminology Charts are very simple and don’t need “cups and handles”, “head and shoulders”, or any of the other fancy terminology that is used to explain them. I guess if you need to charge people and sound educated about charts, you need to use a lot of such terminology and give some intellectual sounding name to a pattern. I won’t put too much weight on these terms and patterns. Just keep in mind that the charts are showing you the collective behaviour of all those who are in the market at that time. With”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“When I get hurt in the market, I get the hell out. It doesn’t matter at all where the market is trading. I just get out, because I believe that once you’re hurt in the market, your decisions are going to be far less objective than they are when you’re doing well.” — Randy Mckay”
― Ashu Dutt, Trading The Markets For A Living

“stage is usually where most individual investors get in. This is the stage when the stock gets talked about on TV, analysts discuss it, and its visibility is high. Operators wait for precisely such moments to sell out their stock.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“Most stocks lose steam within 3 to 4 days. That does not mean significant gains are not possible from”
― Ashu Dutt, Trading The Markets For A Living

“a market has low volumes and is weak, it is a good market to sell (see”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts

“Position Trading Position trading works best for traders who can’t spend the whole day trading. Position trades are taken on the larger trend in the market or a stock, and may last many days or even several months. The critical aspect of position trading is to always keep a stop loss and adjust the stop loss as the stock moves. That takes care of any sudden jolts to the stock which may be of a significant nature.”
― Ashu Dutt, 15 Easy Steps to Mastering Technical Charts