Read them First

Let your profits run only during strong established trends where you can trail your stops behind the flip zones. When the market is not in a strong established trend, take small quick profits. Every trade should start as scalp to the FTA (First Trouble Area). Once you feel the initial edge is gone, that is when the market fails to break the FTA, exit immediately without hesitation. Never wait for the market to hit your hard stop.
-RAJESHJI, Author of Nifty Nirvana Blog


It is all about execution of your plan/strategy. It is a lot harder than what most people think. When we see a setup, that fits our rules, we have to take it. If you freeze and are not able to pull the trigger, you are not going to win this game.
-RAJESHJI, Author of Nifty Nirvana Blog

If you are in a trade and riding a trend never exit before the PFL cracks and never stay in a trade after the Pivot low/high cracks.
-RAJESHJI, Author of Nifty Nirvana Blog

• When Nifty is moving in a 10 point range, it is  difficult to trail. Keep the initial stoploss and take profit at FTA or sit tight till FTA is broken, We can't keep TSL at swing low/high or beyond flip zone. It simply won't work in a 10 point range.  

• Trail your trades at swing low/swing high or beyond flipzone, depending upon the distance with FTA so that we do not give back much of the profit or incur undue high loss, if price starts moving against our direction. When the range is 20 points and if we have taken BOF trades, we can safely trail beyong flipzone and it works most of the time.
• During strong trends/BO, trail just beyond flip zone.

• Momentum and the time taken to break the swing low/high will give a clear view on the probability of BO trades. So entries have to be decided only after checking these.

-My understanding of  the teachings of  Mr.RAJESHJI, Author of Nifty Nirvana Blog


If  Nifty future stalls at an unexpected area , have a look at Nifty Spot. Probably it is at an important area there.
-RAJESHJI, Author of Nifty Nirvana Blog


In a losing game such as trading, we shall start against the majority and assume we are wrong until
proven correct! (We do not assume we are correct until proven wrong.) Positions established must be reduced and removed until or unless the market proves the position correct! (We allow the market to verify correct positions.)
-Rule 1 of Phantom of the Pit

 
Press your winners correctly without exception.

-Rule 2 of Phantom of the Pit

Quotes from “Trading in the Zone”, a book by Mark Douglas

·         The winners have attained a mindset – a unique set of attitudes, that allows them to remain disciplined, focused and above all confident in spite of the adverse conditions. As a result,  they are no longer susceptible to the common fears and trading errors, that plague everyone else.

·         The best traders think differently from the rest

·          Understand and accept that you are  taking a risk with every trade. Accept that the trade has a non guaranteed probable outcome. Fully accept the possible consequences.

·         The best traders can put on a trade without the slightest bit of hesitation or conflict and just as freely admit it is not working.  In other words, loss in trading does not cause the best traders to lose their discipline, focus and a sense of confidence.

·         Whatever degree, you haven’t accepted the risk, is the same degree to which you will avoid the risk. Trying to avoid something, that can’t be avoided, will badly affect the ability to trade successfully.

·         Most traders are either fearful or excited or reckless. Successful  traders  are not afraid, but still remain focused, disciplined and confident

·         The consistency, that you seek is in your mind and not in the strategies.  It’s attitudes and beliefs about losing money and the tendency to become reckless, when you are feeling good, that cause most losses and not technique or Market knowledge.

·         You have to think like successful traders to win consistently

·         Lack of fear translates into a state of mind, similar to  what great athletes describe as ‘the zone’, in which you act and react instinctively. You are very much in the moment and doing it. Whatever you do turns out to be exactly  what needed to be done.

·         When you accept the risk, the way professionals do, you won’t perceive anything, that the market can do as threatening. If nothing is threatening, there is nothing to fear.