Nifty Daily Chart Update -10th Sep 2012

Daily Trend is up above 5315 (SAR)

Weekly Indicator is Bearish, Daily Indicator is oversold zone  with bullish reversal

High of  Shooting Star 5450 can be critical resistance ,Window Top 5410 can  be resistance 

Piercing Pattern at 5164 , Window Low 5220 ,Bullish engulfing pattern 5240

Support are 5240-5160-5088-5040-5000-4950-4800

Resistances are (5280-5290)-(5330-5343)-(5377-5385)-5440-5498-5630

Profit Target   are (5280-5290)-5350-5375-5443-5500-5630

Nifty Daily Chart Update -4th Sep 2012

Daily Trend is down below 5348 (SAR)
Weekly Indicator is Bearish below 5325, Daily Indicator is Bearish OS zone  with bullish reversal
High of  Shooting Star 5450 can be critical resistance ,Window Top 5410 can  be resistance 
Piercing Pattern at 5164 , Window Low 5220 ,Bullish engulfing pattern 5240
Support are 5240-5160-5088-5040-5000-4950-4800
Resistances are (5280-5290)-(5330-5343)-(5377-5385)-5440-5498-5630
Profit Target   are (5280-5290)-5350-5375-5343-5500-5630

Nifty Daily Chart Update -3rd Sep 2012

Daily Trend is down below 5356 (SAR)

Weekly Indicator is Bearish below 5325, Daily Indicator is Bearish OS zone  with bullish reversal

High of  Shooting Star 5450 can be critical resistance ,Window Top 5410 can  be resistance 

Piercing Pattern at 5164 , Window Low 5220 ,Bullish engulfing pattern 5240

Support are 5240-5160-5088-5040-5000-4950-4800

Resistances are (5280-5290)-(5330-5343)-(5377-5385)-5440-5498-5630

Profit Target   are (5280-5290)-5350-5375-5343-5500-5630

Nifty Weekly Chart Update -3rd Sep 2012

Below 5325,weekly and daily Stochastic Chart  is bearish

High of  Shooting Star 5450 can be critical resistance 

Bulls are safe only if  nifty closes above 5378  and 5358 

78.6%  of the last major fall was held

Trading Affirmations

Mark Douglas, a person I consider one of the pioneers of trading psychology talks about trading affirmations in his book Trading In The Zone (A book ever trader should own). I think it’s really important to understand all of these truths and principles and believe them if you want to be consistent in your trading.

I acknowledge there may be aspects,components,principles of Successful trading that I may not be  aware of.As my awareness grow of what it meant to be great trader , I will not take for guaranteed or assume there new awareness have integrated into my mental system in a way where they are completely functional or non conflict, from any thing else which i have already learnt.I willingly and wholeheartedly give the power to change the structure of my mind.Accepts the enhancement and change enthusiastically ,lovingly go way any reservations or resistance. I empower this word to become my internal and external reality.

My methodology identify pattern and market behavior and give me  signal to do something .It is normal for my mind to think this signal are telling me what is going to happen next . To be consistent successful trader ,I realise I have to trained my mind ,which don't think normal until new way of thinking become functional part of my mental environment.

During this process of integration , I may find rational part of my mind , in one way or the other arguing ,for knowing what is going to happen next.I resolve when I find myself from the process of thinking,assuming or believing  that i know , I will generally  re focus my thought on new understanding and nature of the market and trading.


What I know now is every trader contribute to overall behavioral pattern of the market and there every one who trade is a market variable ,that has potential to confirm or invalidate any pattern or any signal.Believing these make it easy to understand that signals are just an edge where there  are just  higher probability of one thing happening over another. As a result  , I no longer  pay  any particular significance on edge that present itself.Each day it become easier for me to put the trade on when edge present itself because i know believe  from very core of my identity I don't need to know what is going to happen next to make money. I just need to keep my mind focus on the probability.

There fore   I am always asking myself, what's probable and what 's possible and what probable it is  and how much it is going to cost to find out meaning what does the market have to sound like and look like to tell me that this trade isn't working in the time frame i traded .

What I know now ,every market moment is truly unique regardless of  how similar it may look or feel of something i have already experienced. Therefore ,Every time i find myself connecting the 'NOW' moment of market  to something that is already in my mind  , I  will actively  disconnect the two , actively focus on present moment and refocus on 'ANY THING CAN HAPPEN' .
All I need to know is 
a.Is market confirming my defination of edge 
b.what is the risk  of finding out whether the trade is going to work
c.Can I accept the risk ?

If answer to a and c is 'YES', and if i had a plan to take profit ,Then I resolve to enter the trade without reservation or hesitation.

Now I know ,I am not responsible for what market does or doesn't  do, nor i am responsible for predicting  what market will or won't do  ,what I am responsible for making sure , I am in most  conducive state of mind  to perceive  what is possible from market objectives  and my objectives of consistently making money.Therefore ,I need to check quality of my mind  by asking question that "am I in best state of mind to trade objectively and without susceptibility of making trading error" ,if not I resolve not to trade or scale back  in a manner that corresponds to my diminish capacity.

Each day , i am getting better and better on  making these assessment about myself and I know that mistake exists in my life that points a way to success.I was not born with the definition of what it mean to make the mistake.Children do not know concept what it mean to make a  mistake until taught.These concept are learned more often in painful way.There it is natural for me to avoid pain and  it is natural for not taking responsibility for anything that i define as a mistake.

However there is problem here, Every mistake points towards success ,fulfillment and satisfaction . Inside each mistake there is secrets hidden to be unlocked to push us forward on the path of  success ,fulfillment and satisfaction .By Taking trading exercise, it is natural for trader to go through cycle of  emotional pain and dissatisfaction.I resolve to reverse any cycle of  emotional pain and dissatisfaction by accepting my result as true  reflection of my level of development . My goal is to become consistently successful trader , the process of doing so have several steps but more importantly it has a first step and that first step has to be consistent with my true level of development .Where I am right now , not where i would like to be or assume I am based on what i would face myself.for important first step , i should be willing to  stop beating myself  and accept i don't need  to be perfect but at the same time acknowledge that every outcome is true reflection of my level of development.

I resolve to give my self permission that I dont need to prove anything from my trading to any body. I just need to give my self permission to learn , I whole heartly give that permission now. knowing be defination that any thing  i need to learn doesnt exist inside me.

Consitent successful trader, I cam imagine myself is  future projection of my self, I am going to go inside future projection step by step ,accepting my results along the way not as a mistake but as thing to learn to acheive future projection of my self .