Tuesday, August 19, 2014

Nifty Pre-Market View.

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 was tremendous.
I would jump in and start to play with them and found 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 a strong liking to basket ball, Table tennis, Pole vault and concentrated on them and excelled, though I play other games & sports whenever time will permitted me.
When you come into trading arena, it is mesmerizing to watch the professionals execute trades effortlessly and seem to understand 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 away abruptly. But you'll lose your hard earned money which would otherwise have 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 is mechanical trading 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 Applied TA/ 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 for a credible & objective plan" to follow.
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.


marina s rao said...

GM Master & Blogmates.

Wish all Long life, peace, Health & Wealth.

Manish said...

Good morning master and friends,

Shat Shat Naman !!

vksoni said...

Good morning ilango sir and blogmates...

DNSHUKLA said...

Good Mng Sir and Friends.

Ganesh IC said...

Good Morning Sir & JN Family

venkatapathy l said...

Namaste Ilango Sir and blog friends


Num Char said...

GM Sir and JN Team !!!

Good analogy and thoughtful .

Query regarding aggressive trade table ...

How do you juggle the numbers in uncharted territory , like today's opening resistance which is very much around your table . Do you approx or its just you have built that knack ?

Raghavendra said...

@ Num char,

My take : In an unchartered territory, Pivots and Camrilla studies provide us a clue on likely resistances. For today and rest of the week / month below are the numbers where a clear cluster resistance emerged between 7910 to 7930.

Day R1 : 7910 DAY R2 : 7946
Week R2 : 7927
Month R1 : 7901.

Num Char said...

@Raghavendra thx!

good , I used to generally ignore the monthly and weekly numbers for intraday but seems like it makes sense to consider it .
On the other fact delving under sir's perspective I am thinking he has also considered EW wave characteristics as often wave finishes during morning impulse etc etc .

FNO HOUSE said...

dear ilango sir last rise 7868....? to 7918.55...?

Rajesh Singh said...

Very well said..Thank you for guiding all of us

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