Wednesday, June 13, 2012

# 3. Learn the Art of being patient.

Learn the Art of being patient now and make it a habit:
  • If you miss a trade, be patient for a correction to emerge for making the trade. 
  • When you make a trade entry, be patient enough to allow time for the trade to develop and generate the profits you imagined. 
  • Big money in trading is made from the few large trades made. You must get into "being in patient mode" to stay with such large winning trades to give them time to develop into that kind of trades.
  • Small & quick losses the best ones. Be impatient enough to exit such trades in quicker time. Remember, a losing trade not only deplete your Capital but also destroy your mental fortitude. Stay away from it. 
  • Remember our proverb: Get Rich Slowly and Quietly.
  • -----------------------------------------------------------------------
During the 5630 to 4770 consolidation phase, Nifty found supports @ 5171,5136,5184 before the final breakdown. These supports would act as resistances now. Once Nifty is able to move past these firmly, it would gather further momentum.
For the day, weakness would be below 50sma-5086(Day pivot). Immediate resistances @ 5124+20=5144.




43 comments:

Just Huge Consistent Profits said...

Good Morning Illago sir and Friends.

Happy trading wednesday to all.

ALBELA HOUSE said...

R/ilango sir,good morning n same 2 all reader's.

San said...

Good Morning Ilango Sir and Friends

SBI Resistance lines : CLICK HERE

saravanan k said...

Good Morning Ilango Sir & all Blogmates.

Rgds
Saravanan

Manish said...

Goodmorning master and all JN friends

Wishing all a Fruitful day.

Good Luck !

SANPOT said...

Good Morning Sir and all blog mates.

satheesh said...

Namaste Ilango sir and all,

Nifty DAY Harmonic chart:
Click Here

Nifty DAY CHART:
Click Here

Nilesh Patil said...

Good Morning Master & Friends,
Thanks for Lessons.

Parimal said...

Dear Master and all friends
May the Lord give us Blessings!
Have a nice day of trading

Yash and Dhan said...

Good Morning Sir and all blog-mates.
Have a nice trading day.
Thanks

dayakar said...

Pranams Gurudev and All.

meignanavel said...

good morning master and all blogmates

Hari_Hyderabad said...

Good morning Master and JN family

shiva said...

good morning,seniors..

Dinesh Rishi said...

Good Morning Master and copy to All

Let start day with some fun

BOSS To An Employee....
.
"Do You Believe In Life After Death?"
.
EMPLOYEE.....
.
"Certainly Not! There's No Proof Of It",
He Replied.
.
.
BOSS: "Well, There Is Now. After You Left
Early Yesterday To Go To Your Uncle's
Funeral, He Came Here Looking For You.

parminder said...

Master ilango,
Good morning and thanks for keeping us in Patience with ur Lessons
☺☺

anmpatel said...

@master
good morning
can we say at yesterday high or at todays opening high i or 3 done. and now ii of 3 will start up to fibo levels from 5016 to 5124. am i right sir. please your comments need. thanks.

Jagan said...

Namaste Ilango Sir And All.

sushil said...

good morning master and blogmates

shabsaif said...

Good Morning...............

NITIN KADAM said...

Bulls made their way easier towards 5200 + by giving closing above 5107 yesterday. 5180 is next major resistance to cross . Corrections upto 5048 would be good re-buy opportunity.Bears will attack on trend below 5023.


5048-5107 - Support area .( Re-Buy opportunity. )
5163-5180 - Resistances .

Changing your sentiments as per the trend from bulls to bears or vice versa is hardest thing, but the most required for successful TRADING. TRADING game is always against human nature,

Winning our own emotions makes our way to success easier.

Current Trend: - UP .

Possible Movements:-

1. 5115 < = > 5107 < = > 5048 < = > 5163 < = > 5178

2. 5115 < = > 5107 < = > 5078 < = > 5163 < = > 5178

3. 5115 < = > 5107 < = > 5048 < = > 5023 < =
> 4982

Two best rules for successful trading:-

1. Initiate position in the direction of trend near support & resistances.

2. Max stop loss - 30 points.

Happy disciplined trading to all.

Have a nice day!

venkatapathy l said...

Namaste Ilango Sir and fellow bloggers.

LV

venkatapathy l said...

@DR

Namaste.

Sorry. Saw your mail only today. Replied.

Love and regards,

LV

NEVER GIVE UP said...

good morning sir and all friends.

Dinesh Rishi said...

Venkatapathy Sir,

thanks read and replied

I would like that you share it

shriram said...

Morning everyone,

officially completed 6months in the JN classroom today . 1st semester passs :-)

and widout any "bunking" from a fickle guy like me ... says a lot bout this blog.
Itna sincerely padhayee kiya hota to career mein chaar chand lag jaate ;-)

Illango ji, thank u for introducing us to the world of Moving Averages & the Hi-Lo concept. Ur doing a gr8 job on this site. Wish u all the luck & goodwill possible sir !!

5146/5188 are the DAy TA RES zones.. Above them, we zoon , below them we sink

Have a gr8 day, time to catch the flight to Delhi

cheers

anmpatel said...

@master
at which point current rise channel will break to confirm ii of 3 begin. thanks.

venkatapathy l said...

@ Bala

GM. Yesterday you asked about useful crossover. I suggested you to ask DR Sir. He suggested me to post the link here. Here is the link:

http://www.babypips.com/school/the_so_easy-its-ridiculous-system.html

Regards,

LV

Dinesh Rishi said...

shriram

wish you all the best

खिड़की से हाथ बहार मत निकलना
दरवाजे पर भी मत लटकना

और पडोसी कुछ खाने को दे मत खाना
'
तुम्हारी यात्रा मंगलमय हो

SANPOT said...

Dear Shriram, pl don't carry your bow and arrow to Delhi.

parminder said...

Dr ji,
Sat sri Akal

anmpatel said...

@master
can i put EW word file to our google group? thanks.

shriram said...

@ DR HHAI : HAHAHAHA..LOL

beech mein koi station aaye to air-hostess ko garma garam chai pakode lekar aane ko bhi bol dun ;-)

@ Sanpot: Always be like a warrior: every-ready or war & yet, hope always for peace :-)

Ciao post market, over n out!

skmishra said...

खिड़की से हाथ बहार मत निकलना
दरवाजे पर भी मत लटकना

और पडोसी कुछ खाने को दे मत खाना
'
तुम्हारी यात्रा मंगलमय हो. :) subh yatra to all!

Dinesh Rishi said...

Before

http://2.bp.blogspot.com/_kxPG6y8Qctk/Ssy4iRamOsI/AAAAAAAANNk/q_OaIlJlXjg/s400/indian-police.jpg

After

http://3.bp.blogspot.com/_kxPG6y8Qctk/TFsAym3fWBI/AAAAAAAAe7Y/t9GJUG4KMrI/s800/Funny+FAT+Police+(14).jpg

Dinesh Rishi said...

skmishra

Applicable to trading also

:D

Sujatha said...
This comment has been removed by the author.
SANPOT said...

D.R. Sir, looking fit and fine. Good Recovery.

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