Thursday, May 16, 2013

Nifty goes sideways in the range that has not been traded for years.

Whenever I saw a footballer playing in the field or a basket ball player in the court or badminton player playing, the temptation to play like them is tremendous.
I would jump in and start to play with them and founnd myself lacking in co-ordination, stamina, technique,  strategies and above all few tricks of the game that only comes from being exposed to the game regularly, sincerely and with full dedication.
Not giving up, I would spend hours, days, months & years to master the games. As I started to play each & every game, I would start to develop strong liking to basket ball, Table tennis, Pole vault and concentrated on them and excelled, though I play other games & sports whenever time will permit me.
When you come into trading arena, it is mesmerizing to watch the professionals executing trades effortlessly and understanding the market turns fairly well and getting a lot of admiration, adulation along the way.
You, in your enthusiasm and in earnest desire to duplicate their success, jump in to the world of "trading" just as I did..jumping into the playing field inexperienced. I would have faced few ridicule or pushed aside abruptly. But you'll lose your hard earned money which could otherwise brought joy & growth to so many deserving people around you.
Spend hours, days, months & years to master this game of trading. Study. There are so many study materials available in this blog. Explore them. Apply them as in a test laboratory without employing your money. It requires tremendous amount of patience to hold back yourself from jumping into this mesmerizing world of trading where only "success stories" are talked about.
Gaining knowledge brings you only half way or I would say to the starting block. To select & execute your trades, use your head. Once executed, keep the "brains" out and follow your trading plan. Do it with small amount and grow in confidence.
Why study so much when there are mechanical trading is available? If you have an in-built discipline as that of a Military man, you will follow those simple rules. If not, you need to study to understand the markets and find , during the course of your experience, that mechanical trading with a bit of input from our Tech.table is all that is required to win in this market consistently.
For those intelligent people who can excel in technical studies,  to win consistently, make "part-booking" a part of your strategy and hold the remaining till a valid target is met or a trailing number is stopped out.
Having spent many years in the market, I do not know where the market is headed for "sure" but that does not stop me from "Applying my knowledge to a credible, objective plan". You'll find some of those strategies in the labels section. I used to be excited about "where the market will go" & share it with one & all but years of hits & hits sobered me to be an objective individual.
There is money in the market to be mined regularly if you apply yourself, keep the patience at all times which takes care of greed & fear emotions as well as finding those high probability trade set ups and "act when you must".
Get rich slowly & quietly.


discipline focus said...

With all due respect

When you asked thrice on the blog regarding IIB, I thought will share my 2 cents with you as a layman.

I am no expert in the field, neither an economist nor a debt-finance expert.

You could have gauged it from my simple yet informing reply that i was sharing whatever layman knowledge I had regarding the topic.

If you were already an expert in the field, you could have discarded the information as something you already knew, yet you found a way to find fault in it, where being the expert that you are could have easily discarded it. In my second reply I said -

"You raised a valid doubt"

"This is what I understood, it might be wrong, but for further clarity I suggest-"

still even after accepting that I might be wrong, and discarding my limited knowledge you went ahead and found more fault in it

and the further replies you gave to people suggested, you are already an 'expert' in the field.

perhaps more than anyone else in the blog.

I am sorry, I saw a genuine concern in you asking thrice regarding "IIB" and hence replied with limited knowledge that I possessed, that too from being a normal reader interested in personal finance and other topic.

Wouldn't have opened my small mouth in front of your greatness

and finally

I replied seeing your urge to know about something ( 3 posts ), thinking might be my limited knowledge would be of some help

Did I asked for a conversation/argument/validation-invalidation match with you?

Came to you for being corrected?

You always have a choice to discard an information already known and when someone is accepting that their knowledge might be wrong/ in-sufficient

I ACCEPT YOU ARE AN AUTHORITY ON IIB and many others, but I never came forward to learn from u or get corrected, and again apologize for sharing my two drops vis-a-vis your reservior


sandeep said...

Nifty goes sideways in the range that has not been traded for years---------- master nice write up

Ashwin said...

Dear Master,

As u always teach us, market is supreme and we should only follow it. After getting to know this blog of yours from a friend of mine two years back, my whole trade set-up changed. From being a rouge without a plan, patience and discipline, i have learned a lot from this blog, have matured as a trader and still learning from you. People humiliating you, asking questions, doubting your trade set-up have never learned anything from the blog or will never learn. Pls Ignore them and we adore u, keep guiding us...!

அளவற்ற ஆசை கொண்டவனாம்

அவனுக்கு ஒரு குருவாம்

கால் போன பாதையில் சென்றவனை

கை பிடித்து அழைத்து, அறியாமை இருள் நீக்கி

புதிய பாதை காட்டிய இலங்கோவாம்

இனி ஐய்யமில்லை - வருவது இன்பநிலை

நன்றி நன்றி நன்றி

Sahil said...

I can sense the experience you have accumulated throughout all these years from the hits you have taken..

After reading all that I find myself "Simply nothing".
To be true, your write up has forced me to look at myself and find the reason for my failure all over again. Even though i corrected myself many times but still after all the work, i dont have any result to be happy about.

Thank you for this detailed write up sir.

J.R.Julius said...

Camarilla EOD Comment : Nifty Spot
H3[SELL]@6186 is the key. Aggressive or Safe
trader have chance to earn atleast 20+10=30pts.

Tomorrow Must watch levels H4[6202] and L4[6137].

rajiv malik said...

bank nifty high

as per the stock technical section of vfm today's bank nifty high is also the 52 week high which is 13281.80. bank nifty is also overbought as per the technical section.

what significance does it have for the traders ?

Ding A Dong said...

hi friends...

There may be lot of things that are applicable to many in one short from ilango's article but let me be honest few words are best applicable to me and they are "Do it with small amount and grow".

yes, me being a speculator in the market I been labeled as "fat trader" (over trading) by my trading friends!

Majority of the times my trade management skills saved me from bomb.

let me confess here as its a good place to be with like minded people that... I am not a serious trader! (Ding A Dong!!! hahahahah)... just 5k-10k a day will fill all my needs and you know that any tom dick and harry will make that much... once I hit my target i just keep asking some silly question as I really don't know the answers for them (some times nobody bother to answer them & i appreciate that hahahahhahah) and what i do as i don't have any other work than trading... 1st earn karo... then explore karo...

Finally, thanks to ilango for every thing... specially for allowing me to share my "worlds best thoughts" hahahahahah

Ding Dong... oh its night sooooo sleeeeep tight :-)

rochak parekh said...


no see, sis

seems, u got lost into the shine of yellow metal

busy buying in tons and tons of it


Ding A Dong said...


Thanks for your reply..... Just everything is around and i was the one who was roaming drunk...

STOCK4SURE said...

options data indicating that tomorrow again bulls may take command

expecting ns to trade in 6156 and 6235 range

marina s rao said...

@JRJ, I am not able to down load your articles from Kindly guide me

Anandha said...

HUL closed below 5 DEMA. Any views for anyone. Is it good to short to see previous lows of 570 or gap area of 504 ?

@Julius sir, Can we go with CAMERILLA levels for stocks also?

SJkolkata said...

Dear all,
Can someone please tell me, is Internet available in heaven?
I wonder how this blog is published than.....

Anandha said...

@ Julius,
You said,
"@Mr.Ding A Dong,
Weekly Cam Calculated using Friday Evening Week Data H@6105.30-L@5928.45-C@6094.75"

What about open price ? Should we take the open price of Monday when trade starts or previous week Monday open price?

J.R.Julius said...

Yes- Camarilla levels can be used with scrips
also. Above Rs.100 scrips are better. There is
another approach for 2 digit price scrips.
will tell later. For scrips SL 0.4% or 0.5%

To Trade options using camarilla - calculate
levels with spot price of the scrip and trade
with the spot reference in options.

To calculate Camarilla levels High-Low-Close
of previous day is enough no need for previous
day open.

suresh said...

J>R>Julius ji,
please give one e.g of "to trade options using camarilla"

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