Just keep doing the simplest things you know but with such tremendous amount of "Confidence"...you will make a huge difference to your life as well as those around you.
Don't talk big about your system or methods....they may be very, very good but your results depend on "how you handled the market with them". There is a constant "debate' going on at almost all the time in the market place about whose system is good and most effective. Every one will swear by their's...but is it that simple?
Getting a system is a child's play..simply google it, you will get hundreds.
Can you google it and show me one system that is foolproof to make money consistently. One follower says he made it big with this and another says he lost with the same system.
"Own experience" and "true perception" of the markets over a period of time alone can prepare you for the bumpy market ride.
One critic follows her averages sincerely and told me firmly to "buy in May" when the world was selling in May.
Another critic follows the market with his simple "ruler" and draws his trendlines and makes his money continuously and they have not gone to the "hill tops" to announce their achievements. But if anyone approaches them, they share it gladly and thats it...Nothing more to it.
This market place is so huge..it has place for everyone. Share whatever you have if you are only confident about it.
My system is one of the simplest one , as old as the TA itself...I have not added anything to the TA which was there already. Nothing here is mine and its all copied from the TA experts of bygone years. I have not named any of it as "mine".
But what I do have is "an unshakeable belief in them" and "an unbeatable Confidence in me". You can too develop them by persistence, patience, perseverence with a discipline worthy of the riches that is expected from the markets.
"5345 to 5290" - decisive into tomorrow's trade.
18 comments:
I wish to appeal to everyone: There are so many TA methods/ EW possibilities/ astrological methods/ fundamental study/ and so many other mathematical calculations, etc. And "NONE OF THEM" will work consistently.Try and adopt them to situations, take a balanced view and try to keep them as simple as possible, so that you go towards "Making Money" and not gather knowledge or get tangled up in some "Intellectual debate". - 12.3.09 Ilango
Nobody can guide like this, will the followers of this blog will follow this?
Thanks and regards
very well said sir...
Market is as easy as a child with "RULER" can make lot of money and yet so hard that firms like Lehman with top financial analysts went BANKRUPT.
It is all about discipline, managing urself and learning each day:)
Ayirathil oruvar? ellai ellai. lachathil oruvar ayya neer. (influence of tamil meet in my city coimbatore)
Sir,
"But what I do have is "an unshakeable belief in them" and "an unbeatable Confidence in me"
- words speak of your success sir!!!!! Hats off. Also I feel you are very lucky to have persons around you who gives you confidence.
Dear Ilango Sir & Blogmates,
Thanks Ilango Sir for remembering me. Sir I cant be online generally during daytime, but I always make it a habit to go thru the blog during night.
MP Values Spot: VAH - 5323, POC - 5316, VAL - 5300
MP Values Futures: VAH - 5329, POC - 5307, VAL - 5300
Thanks & Regards
Sanjay Kr Jaiswal
Sir,
reflection of state of mind of many silent followers of your blog ..
nice reply to those noises during market hours...
Dear Illango,
Hope all is good!
Under ' Nifty building a base ' you seem to have spoken
your mind on systems and the bad things they bring about
on otherwise good people!!
I have understood it as this--It never is the system,
but always the person behind the system who makes a
difference.
I know you as a good trader and even if you were
behind market profile (let's say) you would still be
as successful if not more..
The funny part is others who jump between trading systems
and also blogs will spend their lifetime in pursuit
of the truth of trading which is within them only!
Choose one system, implement it and follow it.
When the trade goes your way you will claim it as a
product of your ema crossover, fib lines, profile chart,
trendline or whatever
But when it doesn't and you understand why, you start
your journey as a trader!
Ilango sir,
need of the hour post...surprised how u come out this kind of postings after the demanding day schedules...
@Sujatha
Good one...add me also in your appeal
@viren
hi...long time ..no see
good one yaar...consistency and belief are the two key ingredients of success.
Hi ilango,
Just wanted to say thanks for sharing your EMA based
system for trading.
Though I draw conclusions from other indicators like RSI,
the 5 period HEMA / LEMA method has proved very very useful
in identifying entry points.
I have started posting analysis on my blog and readers can
see that I color my chart bars as per your EMA conditions.
Thanks again,
MP.
-----------------
Hi all friends,
teejay has shown another way (he'll guide u).
There are more ways like fast day trader's way (you can go for 9-12-15
-20-.. points with 3/5/8 points stoploss), Rajagopal uses this system
(u need low brokerage).
But, always calculate your levels with nifty 1 month future (not on nifty spot), as nse varies future discount.
For example: My trade on june 23 was buy@5297 (sl 5293 for 60% & 5287
for rest 40%,) targets were 5217(40%)(for 5320-25), 5337(60%)(for 5340
-45).
For those who want to learn more about Fibonacci Numbers, can download
following books,
http://rs871.rapidshare.com/files/378536042/Fibonacci_Applications_and_
Strategies_devilsdivine.info.rar
and
http://rs468.rapidshare.com/files/244380623/The_Fabulous_Fibonacci_Numb
ers_tqw__darksiderg.pdf
[if u like the books pls buy it to support writers]
Best Wishes.
---------
To,
Respected Ilango Sir,
Pls dont mind. I DON'T AGREE with your following comments.
Bring in competition...creativity is lost. :-Ilango.
I think, Sachin Tendulkar is the best to answer on your above comment.
After all, it is already proved that,
The Whole World (Species) is based on Thory of "Survival of the fittest" -Charles Darwin.
So we(including traders) are and I think 'COMPETITION NEVER KILLS,
IT ONLY SHARPEN OUR SKILLS.'
At last,
I only speak from my heart. I don't have any intention to hurt you,
bcoz I really respect you. You are helping a lots of new comers. God Bless U. I'll not distract u anymore, promise.
Thanks & Regards.
Arunima.
Bye....
---------
lol, I agree with Arunima that there's a healthy competition when its fun; but a lot of people go beyond to a very harmful kind which does no one any good.
Thanks for your explanation, Arunima. It helps, and I'll download the books you recommended.
Sorry for 5217 instead of 5317 (late night error)
For example: My trade on june 23 was buy@5297 (sl 5293 for 60% position & 5287
for rest 40% position,) targets were 5317(40% position)(for 5320-25), 5337(rest 60%)(for 5340
-45).
BEST WISHES.
THANKS & REGARDS.
Arunima.
BYE....
(Ilango sir pls pardon me)
@Yoda
@ good sprit always(Rajagopal know it all). :-)
I fact I like ilango sir, a lot (so my cousin Hemanta).
Bye.
Thanks & Regards.
Arunima
@ Arunima,
I am pleasantly surprised to note that "Hemanta" is your cousin. Lucky you. How is he..? He is a great trader and a very good teacher. Convey my very best wishes to him.
Please feel free to express your views. I wish to clarify a very important point here:
"Competition" in the form of examination/ tournament, etc., are all fine and helps one to sharpen their skills, know their potential and so on.
But the competition, I meant here, is that one is wanting to be "one up on the other" or "I can also do it like you" and so on which kills the creativity in people. I have seen such a competition among students, Housewives, at work place, many businesses trying to copy the other ones. Such competition destroys the "creativity" in people. They have no confidence in them and thus simply copy another one but to stay on, one needs more than just copying..something original of your own..a passion., a belief and such factors bring in a fresh approach to the same old thing and revives a new interest in it like "your passion for the fibonacci trading".
Best regards.
ilango
Arunima your links doesn't work!
@ sandy,
two books links separated by 'and'
again for u.
http://rs871.rapidshare.com/files/378536042/Fibonacci_Applications_and_
Strategies_devilsdivine.info.rar
http://rs468.rapidshare.com/files/244380623/The_Fabulous_Fibonacci_Numb
ers_tqw__darksiderg.pdf
previous links:
Fibonacci Calculator:-
http://www.4shared.com/document/X-I5KtB0/Fibonacci_Calculator.html
Fibonacci strategy (with candlestick analysis for fine tuning res/sup):-
http://www.4shared.com/file/YHaCGRuZ/How_to_trade_with_secret_Fibon.htm
Thanks & Regards.
Arunima.
To RajaGopal
pls see,
June 24 my lowest sl was 5287 future (prevous post @June 24, 2010 3:57 AM ), june 25 today nifty future made low at exactly 5287.2 (20 paise above sl).
[Conclusion: There is definitely scientific (mathematical) reason behind all market movement ]
It was for u in advanced (may be in coded language). Good Wishes to u, you live long too. :-)
--------
To ilango sir,
I have conved ur best wishes to my cousin Hemanta. He is very glad that, u remember him. He said same to you.
Thanks & Regards.
Arunima.
With All Good Wishes.
Bye.
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