"The sort of life which I had previous to this popular success," he later wrote, "was one that required endurance, a life of clawing and scratching, but it was a good life because it was that sort of life for which the human organism is created. I was not aware of how much vital energy had gone into this struggle until the struggle was removed. I sat down and looked about me and was suddenly very depressed.
Saturday, June 11, 2011
Action in life.. Keep that original act going
Plenitude and prosperity make us lazy and inactive. When our power is secure we don't feel the need to act. This becomes a serious danger especially for those who achieve success and power at an early age. Playwright Tennesse Williams, for instance, found himself skyrocketed from obscurity to fame by the success of his play, The Glass Menagerie.
"The sort of life which I had previous to this popular success," he later wrote, "was one that required endurance, a life of clawing and scratching, but it was a good life because it was that sort of life for which the human organism is created. I was not aware of how much vital energy had gone into this struggle until the struggle was removed. I sat down and looked about me and was suddenly very depressed.
"The sort of life which I had previous to this popular success," he later wrote, "was one that required endurance, a life of clawing and scratching, but it was a good life because it was that sort of life for which the human organism is created. I was not aware of how much vital energy had gone into this struggle until the struggle was removed. I sat down and looked about me and was suddenly very depressed.
Friday, June 10, 2011
Nifty PreMarket View
Seeking forgiveness for our ignorant acts( we are human..likely to err) is a sign of strength and great character.
All we are asking is to "tone down" our enthusiasm and channelise it in a "Step by step" analysis and get the direction correct. Remember, there are positional traders, short term traders of 2-3 days and intraday traders. While the market is in Month/ week/ day downtrend, it could give great returns to an "Intraday trader" who plays the intra rallies while the positional trader benefits with gap downs & sell on rallies. These are not conflicts but the inaction of the market in a range creating impatience among traders. Tune your perception and change your expectations depending on the market.
Pay attention to today's price behaviour on the back drop of yesterday/ last week & last month's close TA.
@ Chandra Bose,
Your "Volatility based range" has worked well. You have offered to share the AFL for readers. You may do so through the "Group". Post the range here for the benefit of other readers.
All we are asking is to "tone down" our enthusiasm and channelise it in a "Step by step" analysis and get the direction correct. Remember, there are positional traders, short term traders of 2-3 days and intraday traders. While the market is in Month/ week/ day downtrend, it could give great returns to an "Intraday trader" who plays the intra rallies while the positional trader benefits with gap downs & sell on rallies. These are not conflicts but the inaction of the market in a range creating impatience among traders. Tune your perception and change your expectations depending on the market.
Pay attention to today's price behaviour on the back drop of yesterday/ last week & last month's close TA.
@ Chandra Bose,
Your "Volatility based range" has worked well. You have offered to share the AFL for readers. You may do so through the "Group". Post the range here for the benefit of other readers.
Thursday, June 9, 2011
Nifty kept below the crucial 5542 of this week.
Dear Dinesh Rishi,
Your strength is your composure and a cool temperament. You may not be aware of it but many benefit by your conservative approach to market trading and investing as well as your ability to abide by the system, thereby removing all kinds of conflicting thoughts. You inculcate such discipline in your trading dialogues that the readers are often reminded of its simplicity.
How many understands such simple approach to market in their pursuit of wealth. Most look for excitement. And they get it but at what cost.
You do not need any of them but surely many would benefit by your presence. You have never found it a burden and you conduct your affairs with ease.
It hurts to see you being upset. I am sure you'll sort this one out.
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
Identify the commencement of a sideways market once market closes below DHEma in uptrend and above DLEma in downtrend and look for support/ resistance cluster points based on earlier price behaviour as well as the developing one and combine the same with fibonacci retracement points and TRADE. TRADE means sell to buy and buy to sell and not hold till prices are reversed as in a trending market.
Make 15 points or 25 points. And miss a potential trade. Do not worry. And a potential trade stops out - accept this trading loss. And keep a reasonable SL closer to supports for Longs and closer to resistances for shorts and trade. Ofcourse, you can choose to sit out and watch the market action and play it in your mind "if you had gone long or short at a particular level - what is the result?".
Not doing any trading for 5 to 6 days would protect your capital while you observe a potential trade set up developing.
Watching the market, thus, educates you of market's "whipsawing nature" which is actually "whipsawing our perceptions". Market moves to new high with a 2 point move to 5540 today which falls right into the potential resistance zone of 5535-5545.
About your trading system - it works differently in a trending market and in a sideways market. Know this essential difference and you will start trading with ease.Feel the market; Use the system to make more profits and less Loss.
Your strength is your composure and a cool temperament. You may not be aware of it but many benefit by your conservative approach to market trading and investing as well as your ability to abide by the system, thereby removing all kinds of conflicting thoughts. You inculcate such discipline in your trading dialogues that the readers are often reminded of its simplicity.
How many understands such simple approach to market in their pursuit of wealth. Most look for excitement. And they get it but at what cost.
You do not need any of them but surely many would benefit by your presence. You have never found it a burden and you conduct your affairs with ease.
It hurts to see you being upset. I am sure you'll sort this one out.
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
Identify the commencement of a sideways market once market closes below DHEma in uptrend and above DLEma in downtrend and look for support/ resistance cluster points based on earlier price behaviour as well as the developing one and combine the same with fibonacci retracement points and TRADE. TRADE means sell to buy and buy to sell and not hold till prices are reversed as in a trending market.
Make 15 points or 25 points. And miss a potential trade. Do not worry. And a potential trade stops out - accept this trading loss. And keep a reasonable SL closer to supports for Longs and closer to resistances for shorts and trade. Ofcourse, you can choose to sit out and watch the market action and play it in your mind "if you had gone long or short at a particular level - what is the result?".
Not doing any trading for 5 to 6 days would protect your capital while you observe a potential trade set up developing.
Watching the market, thus, educates you of market's "whipsawing nature" which is actually "whipsawing our perceptions". Market moves to new high with a 2 point move to 5540 today which falls right into the potential resistance zone of 5535-5545.
About your trading system - it works differently in a trending market and in a sideways market. Know this essential difference and you will start trading with ease.Feel the market; Use the system to make more profits and less Loss.
Wednesday, June 8, 2011
Tuesday, June 7, 2011
Nifty Intraday Update-I
Support has held & continues to be 5490-5510. Yesterday's high of 5542 is the minor resistance and in the next attempt, it will move to 5555-5575 zone. Only a move past 5580 would confirm an end of the correction.
Monday, June 6, 2011
Nifty's sideways mode finds 20sma its support today.
If this correction is a "zigzag" kind, it should limit itself to a maximum of 5580(80%) and there are resistances @ 5555 to 5575. Alternatively, if the correction has ended at today's low, it should move past 5580 either tomorrow or the day after. 5455 is the significant support for continuing this rally forward.
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