Market holidays – what’s on your mind?

Markets are open only 3 out of the next 9 days. Most of us will probably still check in here or glance at the news now and then just out of habit or our interest in the markets. If you’re still in the zone, Innerworth is a great read for trading psychology.

Since it’s a bit of a break for everyone, if you’re picking up a new skill, learning something interesting, or already working on something, feel free to share. This helps us get to know each other better on the forum too. :slight_smile:

And if you have any suggestions, maybe a book to read, a skill to explore, or a movie around markets, business, or anything interesting, feel free to drop it in the comments. :smiley:

Let’s keep the thread clean and easy to follow, no long lists or spam.

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There are so many but I will tell you my favourites.

Books- Trading in the zone , Diary of a Professional Commodity Trader, More Money Than God, and The Alchemy of Finance.

Movies- Betting on Zero, and Inside Job.

All time favourite- The big short. (I am batman)

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No candlesticks :bar_chart:, no alerts :warning:, just some time to unwind :hourglass: Inner peace :peace_symbol:

This time I would want to take a chance to research more on my trading strategies. Planning to read about market trends, potential investment areas, and pep up for next week!:fire:

Already in the mood and have started:

I am seeing Nifty FMCG and Nifty Infra is kinda recovering well. Would want to research some stocks on it.

@nithin_kumrr Any suggestions on being at peace? With all the chaos faced during this week ?

Every party is not yours.
Trade only when your setup(strategy) allows.
Don’t trade compulsively.
Market is not going anywhere.
First priority should be preserving capital, second should be earning money.
Work on psychology more than charts.

Next time, you see this type of chaos in the market, remember these points.

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Hi @Norton_Fernandes , I don’t have much idea. Maybe my pending books, catching up with friends or some impromptu plan. :slight_smile:

Btw, removing the charts makes the thread look off the topic.


@cvs @ST_Trading @SG_13 Maybe if yu have any interesting finds or something to share for everyone here for the holidays?. :slight_smile:

Check out The Psychology of Money by Morgan Housel. This book offers a unique perspective on money

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@nithin_kumrr I personally prefer to detach myself from markets during weekends. I never carry my trades over weekends.

A clear mind with no worries.

This weekend (as usual), a lot of family time, bunch of books and research on history, science, medicines and human behaviours (I have a wide range of interests).

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Very nice, sounds like a fulfilling weekend. Really admire the range of interests you have. :slightly_smiling_face:

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Thankyou :blush:

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IMO, there are two ways to be at ‘peace’

  1. The short-term answer is “Distraction”

It includes everything and anything that we could do, to take our thoughts away from current issues and keep us occupied/enganged in something else.

It could be
  1. Movies/series/anime/sit-coms

  2. Sports and games

  3. Music

  4. Time with nature (walks/rides/trips)

And there is no one size fits all answer to this.

  1. The long-term answer is “Mindset”

If we can develop a positive attitude towards challenges, it can keep us level headed and this will bring some calm/peace to us.

But, this is easier said than done, it mostly comes with experience. (especially with bad ones)

Friends, family and good books, can help mould our mindset.

And everytime I think about mindset, it always reminds me of this great poem

IF by Rudyard Kipling

If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
But make allowance for their doubting too;
If you can wait and not be tired by waiting,
Or being lied about, don’t deal in lies,
Or being hated, don’t give way to hating,
And yet don’t look too good, nor talk too wise:

If you can dream—and not make dreams your master;
If you can think—and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you’ve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build ’em up with worn-out tools:

If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breathe a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: ‘Hold on!’

If you can talk with crowds and keep your virtue,
Or walk with Kings—nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much;
If you can fill the unforgiving minute
With sixty seconds’ worth of distance run,
Yours is the Earth and everything that’s in it,
And—which is more—you’ll be a Man, my son!

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I get this is about recovery, but still, this one is pretty much one of the worst thing anyone, man or woman, can do.
Will always be penniless, this man if he risks it all on one bet. Will only have earth, no roof :slight_smile:

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:joy:

I guess there can be different interpretations of almost every line of this poem, or any poem for that matter.

I barely understood some portions of it.

  1. The ‘winnings’ here could mean everything that someone owns (all their wealth) and therefore, it could mean that they would be left with nothing, if they bet all of it at once and lose it.

  2. The alternate interpretation would be that ‘winnings’ could only refer to all the profits someone has made from earlier bets and therefore, they are betting only their profits, and if they lose, they only lose the winnings (profits) not the entire capital and are back to square one (beginnings).

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I would say even this logic is faulty if generalized, but anyway maybe core message is about ability to bounce back.
Hopefully, no one takes it literally.

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