Tuesday, September 30, 2014

Allow the ST action to exhaust while keeping your focus on MT technical to have the right perspective..

Approach the market with a "Prime study" of your choice.
Understand it better by using "Secondary studies", preferably 2 or 3 to the maximum.
Wait patiently for these studies to align better, if not the best, and then make your trading plan.
I have chosen Elliott wave as my prime study; Classic Technical analysis with Ema & JNSAR inputs as secondary studies to validate the primary study.
EW shows primarily the direction. The labeling is just secondary.
The fight for labeling, at best, should be treated with amusement.
Only market validates it.
Only an open mind makes you conscious of such subtle shifts...
Now, weigh your risk reward considering all the time frames, giving more weightage to higher t/f and choose a reasonable level to initiate a trade using the lower t/f's volatility.
When you initiate your trade based this way, there will be tremendous level of discomfort as your secondary studies would not be confirming and the counter trend moves are swift & powerful to unsettle even the experienced.
Do it anyway with a proper stop loss which should keep your risk limited and the planned execution providing big reward, if not unlimited.
Unlimited happens when your tool of execution is one of a daring kind. More on that later.

20 comments:

venkatapathy l said...

Namaste Ilango Sir and blog friends

LV

Sonu said...

GM Master and All!

vksoni said...

Good morning ilango sir and blogmaes...
Thank you sir for continuous guidance..

Roshan Baheti said...

Very Good Morning Ilango Sir & All Friends..!!

amber said...

Guru ji charan vandan

kumar k said...

Good morning all.can anybody(sonu/venkatapathy) plz explain me ST&MT

D.S.SASAN said...

Good Morning Dear Sir, Bros. & Sis's,

Have A Happy Day.

vksoni said...

ST-short term
MT-medium term

D.S.SASAN said...

Kumar K Ji ; ST: Short Term. MT: Medium Term.

Roshan Baheti said...

@ Kumar K : ST refers Short Term & MT as medium term outlook

marina s rao said...

Namasthe Master & Blogmates.

Wish all Long life, Good Health, Peace & Wealth.

marina s rao said...

Master,

Today Trade Table not posted ?

Magesh Waran said...

good morning illango sir & blog mets

kumar k said...

thank you roshan,vksoni,D.S.SA SAN

prakashbkc said...

GM Master,

Kindly update JNSAR for stocks in stock wealth blog

gs said...

good morning sir and blogmates

thanks master for the writeup

gs said...

market getting ready for upmove?

Yash and Dhan said...

Sir,
One question for you and seniors please.
Most of analyst always talk about higher time frames being important. But market always shows a movement in 5 mins time frame. I get disturbed with this sudden spurts and completely loose my plan. Would it be ok to plan on a 5 mins time frame only and just keep the larger trend in mind.

Crorepathi said...


கண்ணுக்குத் தெரியாமல் நிற்கின்றாய் கண்ணா
கண்ணுக்குத் தெரியாமல் நின்றாலும் எனக்குக்
குறை ஒன்றும் இல்லை மறைமூர்த்தி கண்ணா

:'(

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