Saturday, June 14, 2014

"Doing"... beats "talking" every time...

Chances are good you read the story, then probably gave it little, if any, additional thought. It was interesting, fascinating, unbelievable, and inspiring. At the time, you were probably thinking, May be I should attempt a little more in my own life.
Dick Rutan and Jeana Yeager in 1986 flew non-stop around the world - all 24,987 miles of it - in a specially built airplane with an unusually small engine and extremely large wings.The plane that Rutan designed, the Voyager I, made its historic flight in December of 1986. It carried 7,011 pounds of fuel in tanks that looked similar to a pair of outriggers on a canoe. Its cabin, with room for his co-pilot, Jeana Yeager, was the size of a small closet. They had to be in a reclining position to fly the plane, which was as loud as a lawn mower. The flight took nine days.
During the entire time, they kept in contact with the command center at Edwards Air Force Base. There were also some extremely anxious moments when an electrical pump, designed to draw fuel from the tank, failed. Unexpected turbulence along the way bounced Jeana against the cabin wall, resulting in minor injuries, but they succeeded and even made it ahead of schedule.
Rutan told Andy Meisler of the New York Times several years later. "We had seven major failures in the 340 hours the plane had flown, and we were planning a 225-hour single flight, almost all over oceans. As far as the pilots' fatigue and their ability to stand up under even moderate levels of turbulence and so on, our data showed they would not even get to the Philippines."
But the Voyager I successfully completed its flight and touched down safely on December 23, 1986. Approximately fifty thousand people gathered at Edwards Air Force Base to welcome them home.
For a brief time, they were celebrities in the minds and hearts of millions of people, but that was yesterday. Such is life itself.
Incidentally, Mobil Oil Corporation provided a synthetic oil for what the company described as "the toughest test in history". Mobil then bought a full page adin USA Today to congratulate the two pilots on their record breaking flight. The ad closed with these words:
"We believed it could be done, but you, Dick and Jeana,
proved it and doing beats talking every time."
Truer words were never spoken. Here are more truer words. Though Dick and Jeana might be out of public eye and the millions who applauded them for their accomplishment no longer even think about them, the major point is this:
For the rest of their lives, they will remember that  they did the impossible. These memories will give them hope and encouragement to do even more.
The message is clear:
Take a few calculated risks in your life, and give it your best shot.
Rutan donated it to the Smithsonian Institution, and then moved on to new challenges.

In 1982 he founded a company, Scaled Composites Inc., which was an aerospace prototype development firm. It created prototype models for new aircraft.
He designed an eighty-five-foot rigid sail that was used on the winning yacht in the 1988 America's Cup race.
In 1992 he created an "Ultralite" show car for General Motors Corporation, which was made of lightweight plastics composites.
In 1996 he rolled out the Boomerang, a unique asymmetrical twin-engine plane capable of speeds of three hundred miles per hour.
He designed an adjustable-wing aircraft capable of high altitudes, called the Proteus, which made its first flight on July 26, 1999.
Space-ShipOne was a passenger rocket that could be carried aloft by a larger plane, also built by Rutan and his company, called the White Knight.
Anyone can be tenacious if he'll just hang in there long enough.
--Zig Ziglar.

21 comments:

venkatapathy l said...

Namaste Ilango Sir

Love and regards,

LV

shriram said...

What a story for inspiration !! :-)

durga said...

good evening master n blog mates
one day we will all feel this--may b i shud attempt a little more-
i remember alllways one of my senior medic - who advised me -on how to prepare fr post graduate med ,entrance (hapnd way back in1985)- he told me put all your energy into this -donot save it fr any other thing and he added--even if i dont get a good rank=i will know where i stand in the crowd--and hw much energy more is required fr next attempt i obeyed him with conviction and pat--i got best rank..and i learned a life changing principle..and i applied to my profession and nw applying in markets..i read some where since we never know best times fr us--better hang in best places(JUST NIFTY ) and rest follow suit.once prannoy roy told proudly --tht he hung around enough time at white house till he got interview frm BILL CLINTON (-wn he was contesting fr second time.)and cleared the mystery of his successful only interview...so lets strive to apply them day in day out..GOOD DAY.

durga said...

@young master-shiram -n seniors /blogmates
is ther any charting software--that can take orders buy/sell n other stop orders from the chart itself
--which allows linkage and execution thru our broking firms. please share info ..thank yu

Sunil Minz said...

Oh! Durga are you a medical doctor? I am not hurting you so please dont mind Please.

shriram said...

Hi Durga bhai:
What u suggest is done by proprietary H-FreQ Trading & Algo Trading Systems. Currently, i doubt this service is extended to the Retail Trader ..

Wud be gr8 , tho wudn't it...
if we can spend more time on charts.. all we wud need to do is to "paint" the ENTRY, SL & TGT on the chart, and then pass on TRIGGER isntructions to the Trading Platform :-)

durga said...

good morning master n blogmates..
@shriram-- thank yu
@sunil minz--ok i dont mind--also never minds

Sunil Minz said...

good morning master and all blog-mates
@durga---Thanks. You skipped my query very well !!!! Any way have a good day to you all.

r m said...

@durga
Ninjatrader has a built in chart trader which takes orders from the chart. Here I mean accepting manual orders from the charts and routing them to the linked broker.
I think only IB (interactive broker) may have this linkage with Ninjatrader for Indian markets, also chart trader may be functional only on Paid (owned or leased) version of Ninjatrader.
regards.
rm

Amit Agarwal said...

Dear Ilango Sir,

I have been following your blog for sometime and have found various useful things on it. I am afraid I have to disagree on a few things. A lot of things are actually confusing for beginners. Giving too many possibilities,and when one of them hits, you say we had pointed this out earlier using this indicator, it is rather misleading.

Further, IMO technical analysis only gives you a broad situation of the market, but beyond that day to day trading is not governed primarily by technical analysis, rather market makers. Support and resistance do not work 90 percent of the time. Market manipulation also happens. Google and you will find many published studies on market manipulation using circular trading and what not.

Despite finding a lot of good stuff on your blog, there is a lot of confusing material especially for beginners.

Sunil Garg said...

Dear Mr.Ilango,

I am following your blog since long and avoid active participation in comments. I appreciate your contribution towards trading community. I fully agree Amit Agarwal ,your blog have too much confusing material now. On friday you were showing impulse 3rd wave in pre-market view and after fall of 150 points ,it seems by your evng post that you gave sell in pre-market & we did wrong things.

I have a suggestion here for the benefit of all your followers like me. Kindly make a group where you can give us actual trade that when you booked intraday or positional. I am not asking it free ,kindly take reasonable monthly charges by every members who want to see this actual trade.

This will give us confidence and we will easily adapt in actual trading that how to use 38/50/62% retracement in actual trading. I am sure that it will benefit me and all those who hesitate to act on crucial time. It will remove all doubt between words and works.

Ilango said...

Nifty Pre-Market View.
FII's are net buying consistently during this month except a day.
Prices, in the short term, have closed above two key ST averages.
"Impulsive 3rd wave" seems to be underway with minor corrections within a channel;
The ST direction is "UP" till prices continue to close above these two key averages(21 or 34 hr smas). Aggressively Holding above 7630, Conservatively Holding above 7609 uptrend continues....
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
7622-30 & 7610 are two key supports
and
7678-83 & 7715 are two key resistances today.

Ilango said...

Ilango said...
Bullish:
7646 7638 ... is 50%-61.8% retrace of the last rise from …… 7613 to 7679

80% is - 7626

If strength to return again, it should be around 7646 7638

Weakness gets confirmed Below 7638 OR 7626
June 13, 2014 at 9:24 AM

Ilango said...

Ilango said...
@ Guru Krishnan,

Since it is a flat correction, the trading range is could be more than 80% or even 100% on the upside and roughly 7579-89 on the downside.

There are other possibilities too in contention; hence, too much noise in hour T/F.

As long as prices stay above 7630, aggressively long.
June 13, 2014 at 10:43 AM

Ilango said...

Ilango said...
@ cooldent ,

80% is breached; If it is a flat correction, it does not matter.

If it is the most bullish scenario, the retrace at 7638-46 must hold...
June 13, 2014 at 10:47 AM

Ilango said...

Ilango said...
@ Sonu,

Two views:

Corrections completed at 7613(breaking the channel a bit as in "iv"th wave) and a 5 wave completed from 7613 to 7679 and a correction is unfolding. Holding 7638-46, next set of 5 waves would unfold; gets negated below 7625.

Corrective rise for the fall from 7700 to 7589 completed at 7679 and the next round of fall is unfolding.
June 13, 2014 at 11:17 AM

Ilango said...

Ilango said...
@ Sonu,

When prices broke 7638, 2nd view takes prominence and gets confirmed when prices broke 7626.
June 13, 2014 at 12:09 PM

Ilango said...

What I did on Friday was Spoon feeding and that has led to "Losses"...

I must stop this non-sense...

You loose because of your inability to understand, being a beginner but wanting to trade like a professional without the requisite knowledge and experience.....

I never said I knew what the market will do next, even after breaking 7638 or 7610...

I can not state....

blood bath....

kissing...

truckloads,etc.... of such exciting words....

All I know is to follow the prices......and followed it by changing my levels everyday to trail it upto

"Above 7610, uptrend continues" in Pre-Market under "Action" column.

The trouble is never me.....

If you want to make money from market, start acting like a man....own up to your inactions....own upto your misunderstandings....

It is your money which is at stake....

Do not stay here or in any place which confuses you or which does not educate you to be better informed or make you independent.

Our education system has been designed in such a way that you become a living encyclopedia....know everything but can't do anything on your own. Let them have just have 1/10th of the syllabus and teach you to learn the subject on your own. Once you do that, you can cover 100's of new subjects/ lessons on your own; why, you may even write your own lessons.

See, the problem is deep rooted; the seeds have been sown many years ago...and you blame me for your incapacity to learn and understand.

If you are still a beginner, spend some time learning, spend some more time experiencing before you walk into this racing track, boxing arena, play ground.

Market is unforgiving of our errors. I wish God made Life that way...unforgiving..

He is compassionate, graceful, all forgiving.

It is time, we take His compassion, grace & mercy and do something worthy of all those gifts given to us instead of whining like a helpless lot.

Remember:

"Doing"... beats "talking" every time...

Harsh Mehta said...

Sir there were so many reasons to close longs and go short.. One must follow.. I said in comments that I don't sense any impulse.. Immediately I closed my BN previous day long.. Waited for 5 mins to see if DHEMA is holding or not. As soon as I saw it try 3-4 times but getting knocked off, I went short with tight SL. Booked at lower but again saw SAR was cleared, so went short again and again. At EOD squared off my shorts as .618 level was reached and market may do anything from here on.

One must apply one's brains even if a teacher educates you. Its not the fault of teacher if a few fail and others pass. My silent learning of your blog has given me confidence to trade on my own. I come to your blog daily to seek your guidance.

Thank you Sir. God bless you.

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