Once your plan is ready, put to action with clear cut entry, exit and SL.
Be willing gladly to give away the "loss" to market that will keep you safe for the long haul. This is very important: Accept the market action if it goes against your plan & exit with your SL. If it goes with your plan, don't get excited but follow through with your exit plan and don't get carried away by greed.
So you have fear at the bottom(entry/ SL) and greed at the top.(exit)Make a habit of conquering these emotions by first becoming aware of their emergence at critical junctures.
42 comments:
Dear Ilango,
very well said about trading plan.
""PLAN YOUR TRADE AND THEN TRADE YOUR PLAN""
Dear Ilango SIr and Blogmates,
Very Good Morning, Have a Profitable Day
Thanks & Regards
Sanjay Kr Jaiswal
Good morning Ilango sir and everyone
Nifty daily chart analysis
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-levels-for-today.html
Thank you
Hi Friends
Here is the link for today's MySAR_A levels
http://www.4shared.com/document/GeaRvYuG/MySAR_A_for_Future_16th_July_.html
http://www.4shared.com/document/rD6j6CSj/Points_earned_15th_.html
Please keep in mind these are the numbers for future segment trading only.
-gauresh59
Good morning sir and all
GM Sir and frnds..
Nifty has started a neg div in daily charts. If we end up, this might be broken.
http://safegamble.blogspot.com/2010/07/nifty-negative-divergence-begins.html
I want to be clear on my prev post on neg div. It just "started". RSI also is showing that but is above 50. So still bullish.
Good Morning all!
Gm all
@ sir
Are we seeing disconnect with other indicators as VIX index is on lows, dollar index down 4-5% overnight, and FII flows again on positive side.
For all those into option analysis from IDBI PAISABUILDER:
The addition in the 5100 puts that we had mentioned yesterday appears to continue and
we see some good addition yesterday. Since price is just 10 or so, this cannot be shorting
and hence we look upon it as a buying by some hedger or protection buyer. One
must also see the shedding of the OI in the 5300 call as a slight weakening factor. But
option changes are not high enough to indicate to us that there is some trend based signal
there. So all this is just some guesstimates.
Hai everyone
BANK NIFTY AND STATE BANK OF INDIA DAILY CHARTS
http://niftychartsandpatterns.blogspot.com/2010/07/bank-nifty-chart-analysis.html
http://niftychartsandpatterns.blogspot.com/2010/07/state-bank-of-india-support-and.html
Thank you
=====
Good morning Ilango Sir and all
MINIFTY open and Low values are 5339.90.
=====
@manojag
5300 Oi shedding is bulish for markets :
1) because your case of bearishness might be true, if 5300 call has traded for 30 or 40 Rs in this series, which i think didn't. So, writers who wrote at higher levels or lower levels , think that they should get out NO profit No loss , or at slight loss.
2)5100 PE addittion could be a concern if it written in large numbers >7-8 lacs.
I think wild card is RIL. If it goes 1030, market is going to break 5355 or vice versa.
Please analyze RIL closely , it can give us early indication also.
Good Morning to Ilango Sir and All.
Good Morning Sir and Friends.
What's Moving The NIFTY
TCS +6.09 RELIANCE -3.20
ICICIBANK +3.46 HDFCBANK -1.92
IDFC +0.93 ITC -1.89
INFOSYSTCH +0.87 BHARTIARTL -1.59
WIPRO +0.57 LT -1.51
Others +3.26 Others -7.59
Up(19) +15.19 Down(31) -17.70
@Weath Creator,
5300 call is priced at Rs 115 i.e 36/- above NF and shedding of these calls means the bulls are cutting their exposure as they are not bullish.
GM Elango sir and All
Have a nice trading today
Sir & Family
GM..
mok pa ji
very good gift "ta frm sir"
i hv saved so that my D can also read one day
when u will be oldest monk
but i will still b young :)
Rv pa ji..
tussi great ho..
itna homework,,thats y u dont do classwork(Intra)
sincere thanks to u both guys..making me more spoon feeded
2 lac 54000 CE additiion in few minutes trade
Good Morning ALL
5400 2L calls, 1L puts. Another KcK day might show up in the afternoon.
Good Morning Everybody,
Addition of 8.25lac O.I. in Nf in just,first 35 minutes.
Dear Ilango,Today's post is need of the hour.In your earlier post you have mentioned it that in this upward market journey "old Bulls are getting replaced with new ones" so for me,in current situation"Half cock corrections are always dangerous"to predict.Due to yesterday's U.S.market recovery,if there is any recovery in Nifty,then the volumes which will be generated between today's trading hours especially up to 5440-5450 has significance importance for further up or down move of the market. Market is always supreme to decide its own journey. Let us see
5400 4L calls, 1L puts. Corrected.
hi manu, :)
how is she !
hi mynac.....just oft...which is you in the pic...!!!!
mok..
my D is good..started with her nursery
(cries alot when d school van comes..)
as she was in a habbit of starting markets with me..
Udyan on cnbctv18
hi mok
Moving Nifty UP.
TCS +6.52
ICICIBANK +5.80
SBIN +1.61
TATAMOTORS +1.21
IDFC +1.04
Others +7.23
Up(28) +23.41
Dear wormwood34,
Good Morning,It will be answered after trading hours please.Thanks.
Pulling Nifty down.
RELIANCE -3.32
ITC -2.30
HDFCBANK -1.82
HDFC -1.70
INFOSYSTCH -1.01
Others -4.61
Down(22) -14.77
Nifty action as per our morning plan.
Getting closer to the resistance zone 5390-5400.
One more fall towards the lower level may give a "low risk buy opportunity".
Hi..
The market is rangebound today. the upside level of nifty can be seen at the level of 5400 and the support for nifty may be 5350.
INTRADAY STOCK CASH CALLS
NEW POST DONE.
That is an encouraging 10.00AM close.
hi wormwood :)
hi mynac,
i checked, we need to reenter nick eachtime
:(
unless its a snag ...
sorry, i get posting problem, either no posts,
or this time double post, sorry
hi manu,
happens school starter time,
they will settle with classmates soon on playmode.
@ Manojag...
Addition or shedding of OI with respect to any derivative
instrument is not of much help unless applied along with
Implied volatility. Add IV to you analysis and your edge
will improve significantly.
I am a derivative analyst yet only use derivatives for the
sake of sentiment reading. As a confirmatory tool.. not as
a reason to trade.
Wave analysis (basic and simple):
By using Wave theory and subsequent retracements to
project the high of wave 5, I can safely say that wave 5
is done.
I am sure how this 5 wave setup will fit into a larger
frame... but it really doesnt bother me as I need to find
out what the market will do over the past of 3-4 days and
then keep looking for cues. My indicators alone allow price
projections... so elliot wave is a tool used for balance
and proportions.
Ideally, now I shall be looking at a Retracement to 4th wave
which is around the zone of 5250 approx.
Or execute a bear call spread with 5400-5500 and subsequently
looking for a bull put spread with 5100-5200. I would have
loved to execute a ladder, but ladders have become unattractive
due to lower volatility.
Cheers!
Errata:
Read 2nd para as "I am not sure how this 5 wave setup on
the daily scale will pan out over the larger frame".
Apologies
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