Often people who trade in stocks like to discuss their trading strategy with other like minded people. They like to discuss about gains and losses. They like to narrate stories about how they were on the verge of making a huge fortune but were ‘unlucky’ to sell at the right time. They also like to enthrall others with sad stories from lives of friends who have suffered from wealth erosion because of stock trading. Thus when they share their thoughts, they develop strong bonds with fellow creatures who flock together somewhere on Dalal Street!
What are some the common talks when traders connect? If you are fortunate to be on the street or in a suburban local train in Mumbai you are very likely to hear –
Kitna chal raha hai – referring to Index (NIFTY or SENSEX)
Market kaisa hai aj – overall advances versus declines (Group A shares mostly)
Aj usko bhagayenge dekhna – referring to big bulls who are likely to spurt volumes in a particular stock.
Sala bohot toda usko – again referring to heavy selling (and short selling) in a particular stock.
Arey teen din se upper circuit lag raha hai – this is for shares who touch their limit price as set by the exchange.
Ek lot khada hai – Futures and Options are traded in lots of shares. So in F&O people buy lots which have expiry on last Thursday of every month. Until then khada hai means position is open.
Risk toh lena padega – People console others and themselves about the stupid mistakes they have committed.
News kya hai – Market is driven by news about the stock/company. People are always curious to know some insider information.
Teji ane wali hai – Markets are likely to rebound and recover.
Been there. Done that.