General Trading Chat

[deneb]

Coal unions boycott govt meet; to go on 5—day strike from Tuesday

Boycotting a meeting convened by the government today, all major trade unions including BJP— backed BMS gave a go-ahead to coal workers across the country to launch a 5-day strike from Tuesday which may hit the power sector and cause a daily loss of up to Rs. 150 crore.

Terming the protest action as “unprecedented” in the history of the coal industry, the unions urged the workers to participate in a “militant” manner to oppose the coal block allocation ordinance and move to privatise the sector.

Demonstrating unity, all five major trade unions of the coal PSU — BMS, INTUC, AITUC, CITU and HMS boycotted a meeting called by Coal Minister Piyush Goyal, saying the government’s move to re-promulgate the ordinance after the Coal Mines (Special Provisions) Bill could not be passed in Rajya Sabha reflected the government’s “arrogance”.

The unions said a consensus had emerged among them after the government displayed “enough arrogance” over re-issuing the ordinance “without any consultations” with the unions.

“The Government is bent upon to dilute and gradually denationalise CIL and SCCL,” INTUC said in a statement.

CITU and AITUC leaders also expressed “pride” over the display of unity by all trade unions in boycotting the meeting convened by Goyal to avert the industrial action.

“The Central trade unions call upon the coal workers of CIL/subsidiaries and SCCL to launch five days total strike in coal industry from first shift of January 6 to third shift of January 10 in most militant manner...It is time for coal workers to do or die,” Indian National Mineworkers’ Federation (INTUC) said.

AITUC General Secretary Gurudas Dasgupta told PTI: “This will probably be the biggest ever strike in the industry” as, 5.5 lakh permanent and contractual workers and officers of the coal industry and CIL would be on five—day strike.

He said none of the leaders of five trade unions today went for the meeting called by the Coal Minister as they are protesting against the Coal Ordinance and any move towards “privatisation and scuttling of the public sector. Power sector may be hit by the prolonged strike”.

http://www.thehindubusinessline.com...n-5day-strike-from-tuesday/article6751819.ece

 

[niftyninjatrader]

I think he is talking about 2 bar entry. There are many instances of 2 bar entries yday. Just look up his post about this method.... has been shared many many times in TJ (I can safely say that is one of d most repeated post of TJ .. )

Thanks Manish.
After a search, I reached to following post and chart by ST Sir
I think you are also referring to this post only

http://www.traderji.com/day-trading/72827-thoughts-day-swing-trading-part-2-a-51.html#post866801

 

[niftyninjatrader]

I am posting my understanding on the basis of this method, on 5 min NF chart of 2.1.15 . Please check and let me know if it is right or not
Thanks

 

[manishchan]

I am posting my understanding on the basis of this method, on 5 min NF chart of 2.1.15 . Please check and let me know if it is right or not
Thanks

Yep.. some are perfect.. but few incorrect too.. eg : look at the 3rd one u marked around 11 AM... and related to the method above. U see any diff ?

Also.. Hope you understood dt this works only and only on strong trending day. this alone can't be used as method.. this is just an entry in case you miss out on sudden burst move.

 

[lemondew]

How much does this give. I guess this gives on an average 25-30 points. Or 1 old nifty(50) lot of 32000 gives 1250 or about 4 %. Considering intraday leverage 13500 gives 1250 or 9% . Thats good deal.... Not sure if this can give more than 10% capital in 1 shot or 45- 50 point moves....

Yep.. some are perfect.. but few incorrect too.. eg : look at the 3rd one u marked around 11 AM... and related to the method above. U see any diff ?

Also.. Hope you understood dt this works only and only on strong trending day. this alone can't be used as method.. this is just an entry in case you miss out on sudden burst move.

 

[manishchan]

How much does this give. I guess this gives on an average 25-30 points. Or 1 old nifty(50) lot of 32000 gives 1250 or about 4 %. Considering intraday leverage 13500 gives 1250 or 9% . Thats good deal.... Not sure if this can give more than 10% capital in 1 shot or 45- 50 point moves....

Nt sure wht u trying to indicate As I said in d prev post, this is nt a trading strategy nd cnt used as stand alone method. U can incorporate it in existing strategies etc...nd use it when u miss moves in strong surge.

 

[lemondew]

I though you enter at previous bar high(lowest) and exit when uptrend looses steam. Intraday. If you are doing swing you might as well now worry so much
while entering since you back follow up big moves or position yourself before itself for big moves .......

Nt sure wht u trying to indicate As I said in d prev post, this is nt a trading strategy nd cnt used as stand alone method. U can incorporate it in existing strategies etc...nd use it when u miss moves in strong surge.

 

[manishchan]

I though you enter at previous bar high(lowest) and exit when uptrend looses steam. Intraday. If you are doing swing you might as well now worry so much
while entering since you back follow up big moves or position yourself before itself for big moves .......

This works only in intra.. nt sure abt swing. May be ST da can tell...this is his method dt he shared wid us in TJ.

 

[Smart_trade]

How much does this give. I guess this gives on an average 25-30 points. Or 1 old nifty(50) lot of 32000 gives 1250 or about 4 %. Considering intraday leverage 13500 gives 1250 or 9% . Thats good deal.... Not sure if this can give more than 10% capital in 1 shot or 45- 50 point moves....

Nt sure wht u trying to indicate As I said in d prev post, this is nt a trading strategy nd cnt used as stand alone method. U can incorporate it in existing strategies etc...nd use it when u miss moves in strong surge.

I though you enter at previous bar high(lowest) and exit when uptrend looses steam. Intraday. If you are doing swing you might as well now worry so much
while entering since you back follow up big moves or position yourself before itself for big moves .......

This works only in intra.. nt sure abt swing. May be ST da can tell...this is his method dt he shared wid us in TJ.

1)This method was shared not as a complete trading system but as a low risk entry method if because of some reason we miss an ideal entry points...we get multiple entries to get into the trend.

2) How much it gives depends on how you trade them, whether you add, whether you hold till the end, whether you re-enter etc. It also is a function of how big is the price move.

3) Daytrading and swing trading are two different modes, both having their own advantages and disadvantages...we cannot compare the two...it is like comparing apples and oranges.

4) In both daytrading as well as in swing trading we need entries and add points with small,controlled and predefined risk, dont we ?

5) This entry method works well on 5 min as well as 30 and 60 min charts ( for swing) . The precondition is it should trend strongly in the chosen timeframe and then it gives low risk entries....so follow whatever method but if you want a good entry in the trend move or an add point , this method should be of help.

Use it along with the method we use for trading and we have a great combination.

Smart_trade

 

[niftyninjatrader]

Yep.. some are perfect.. but few incorrect too.. eg : look at the 3rd one u marked around 11 AM... and related to the method above. U see any diff ?

Also.. Hope you understood dt this works only and only on strong trending day. this alone can't be used as method.. this is just an entry in case you miss out on sudden burst move.

Sorry, but I didnt get, that you want to point out
I understand that this will work only in a strong trending day and so may not be of use, very often.