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OITA:: Odisha Institute of Technical Analysis

Date: 21.01.2016

From last some days market is continuously moving south. It has shattered the faith of some investors towards the stock market. I have always explained in my classes that stock market is not for weak hearts. To get success one needs to be disciplined and one must have patience.

I am happy to know that some of my students have earned extraordinary profit from this fall and many who are trading in equities have squared off their long positions and waiting in sideline to enter in the market again when there will be any revival sign of the market. 

This market is very ruthless. It shows no  pity or compassion for any undisciplined traders. It gives rewards only to disciplined traders. This is the only truth in the market.

Happy trading.
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A group of frogs was traveling through the woods, and two of them fell into a deep pit.

All the other frogs gathered around the pit. When they saw how deep the pit was, they told the two frogs that they were as good as dead.

The two frogs ignored the comments and tried to jump out of the pit with all of their might.

The other frogs kept telling them to stop, that they were as good as dead.

Finally, one of the frogs took heed to what the other frogs were saying and gave up. He fell down and died.

The other frog continued to jump as hard as he could. Once again, the crowd of frogs yelled at him to stop the pain and just die.

He jumped even harder and finally made it out. When he got out, the other frogs said, "Did you not hear us?"

The frog explained to them that he was deaf. He thought they were encouraging him the entire time.

Author Unknown

Lessons to be learnt:

1. There is power of life and death in the tongue. An encouraging word to someone who is down can lift them up and help them make it through the day.

2. A destructive word to someone who is down can be what it takes to kill him or her.

Be careful of what you say. Speak life to those who cross your path. The power of words.... it is sometimes hard to understand that an encouraging word can go such a long way. Anyone can speak words that tend to rob another of the spirit to continue in difficult times.
Special is the individual who will take the time to encourage another.
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For better career as trader following mindsets are necessary for a trader. They are:

1.Sense of calmness
2.Ability to focus on the present reality
3.Not caring which way the market breaks or moves
4.Always aligning trades in the direction of the market, flowing with the market
5.Not caring about the money,caring your trade management
6.Always looking to improve your skills
7.Profits now accumulating and flowing in as your skills improve
8.Keeping an open mind, keeping opinions to a minimum
9.Accepting the risk in trading
10.No Anger
11.Learning from every trade
12.Winning and losing trades accepted equally from an emotional standpoint
13.Enjoying the process
14.Trading your chosen approach or system and not being influenced by the market or others
15.Not feeling a need to conquer or control the “market”
16.Feeling confident and feeling in control of “yourself”
17.A sense of not forcing the markets or yourself
18.Trading with money you can afford to risk
19.No feeling of ever being victimized by the markets
20.Taking full responsibility for your trading
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Knowledge will not attract money unless it is organised ,and intelligently directed ,through practical plans of action,to the definite end of accumulation of money.
Many believe that "Knowledge is Power".It is nothing of that sort.Knowledge is only potential power.
It becomes power only when, and if it is organised into definite plans of action,and directed to a definite end.

Napolean Hill
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Why we are hopping from system after system?
It is because we don't have faith on the system we follow. First we get attracted towards the system, because xyz is following it and getting success. We also get interest, we devote our time, we learn, we get some profit also.
But then comes a time, when the same system don't give money to the trader, let there be for any reason. At that time doubt comes to our mind.
I remember a story, which i feel i should narrate here.
There was a milkman, who sell his milk in the near by market. In between comes a river, so the milkman depends on the boat to cross the river. Once on a rainy season, that milk man was waiting for the boat to cross the river. A sage was passing by, and casually asked the milk man that, why for he is waiting there? The milkman told that, he is waiting for the boat to cross the river, so that he can go to the market to sell his milk. Sage told, "ohh is this the mater" and he wrote a Mantra on a leaf and gave to the milkman and advised him to keep that leaf in his pocket and walk over the water in the river. But cautioned him not to see what is written on that leaf.
Now every day the milkman was crossing the river by walking on the water. one day he was walking over and out of curiosity he thought that let us see, what is written on that leaf. When he opened the leaf, he saw, it is written "RAMA" . He told ahh only Rama's name is written on this!!! I was thinking some other great mantra is written on the leaf. His belief shaken out and drown then and there.
So my point is without hopping from one system to other, we should adhere to one or max to max 2 systems. We must keep full trust. There will be sometime, when we will not get success, but we should not abandon the system. so the keyword is CONSISTENCY.
--R R Rajguru
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Here is a example i am posting, which is the chart of Nifty Future on 21.07.2015, in 5 mins Time frame. Here one can clearly understand, what is symmetrical triangle chart pattern, and how can one trade the pattern successfully. Want to know more? write to me.
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Having a wealthy mindset is the first and most important step, because it is the foundation. What you believe about wealth is your reality. If you don’t believe you can become rich, you can’t. If you believe you can, you can. It’s that simple, but it’s not easy.
There are many pieces to having a wealthy mindset. You must make a decision you will become wealthy, have persistence, change your mental blocks, live outside your comfort zone, visualize the end in mind, and have an attitude of gratitude.
Making a decision is the starting point that propels you into action, but you must be decisive and committed. A recent example is Donald Trump. When he was asked what would happen if he lost his all money, he responded, “I’m always going to be rich and that’s that. Next question.” As you can see, he has zero doubt. He is decisive and committed to being rich.
Many people start on the road to wanting to become rich, and then they give up.
THAT is exactly what separates the rich from the non-rich. Persistence. Losing faith that you can do it is a common problem with those who are not rich. They never really believed they could do it, so they sabotage themselves and sell their stock low, quit their dream, stop writing the book, declare bankruptcy, etc.
One example of visualizing the end goal in mind is the actor Jim Carrey. Before he was famous, he took a check from his checkbook, made it out to himself for $10 million, and put a date on it a few years into the future. He carried it in his wallet and looked at it every day. A few years later, he reportedly was offered $10 million for a movie role at almost the exact date he had written on his check!
I’m not saying all you have to do is think about it. If you’re starting a journey, you must take the first step to get going. You can always revise your path later if you get off course. Don’t expect success to happen in a straight line, or perfectly, or that it will be easy. You will be tested to see if you are willing to do what it takes to get rich and in so doing, you have to face fears, get out of your comfort zone (which creates major mental blocks), and improve yourself and your skills. Just get started!
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