I can help you with stock chart reading
- Thread starter vvonteru
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can you help me by explaining me how to read the future trends in chating?my email add is [email protected]
Hi,
I presently hold these scrips..... Can you kindly guide me on how to go about..... I had brought these on recommendation from my broker but as you now the slip in the prices.... Is it wise to hold these stocks for some time before i dispose the same or should i go and dump it right away... Your assistance will be of great help....
Company No. Of Scrips Purchase Price
Cipla 75 257.10
Arvind Mills 250 70.40
Clutch Auto 150 120.19
RPG Life Science 75 120.80
Tulip 88 291.10
Thanks & Regards,
Ram Prasad
I presently hold these scrips..... Can you kindly guide me on how to go about..... I had brought these on recommendation from my broker but as you now the slip in the prices.... Is it wise to hold these stocks for some time before i dispose the same or should i go and dump it right away... Your assistance will be of great help....
Company No. Of Scrips Purchase Price
Cipla 75 257.10
Arvind Mills 250 70.40
Clutch Auto 150 120.19
RPG Life Science 75 120.80
Tulip 88 291.10
Thanks & Regards,
Ram Prasad
Thats a very broad question. Here is my take. Planning, Consistency, Will Power, Knowledge of Probability theory and be the best person in real life. Trading is all about what you are made off. It shows all your weakness once U enter a trade. Trading requires U to be the best person U can be.
for MACD(12,26,9) - cross of signal line over EMA(9) line
for MACD(3,10,1) - cross of 0 line
Broad question. U could use trend lines, EMAs (& other tools) to read the future direction of a stock with certain confidence level. U have to understand that if there is 70% chance of stock going up, there is still 30% chance the stock going down. We can't achieve 100%.
Cipla 75 257.10
-- Doesn't look good. Here is your chance to get break even. You can always come back when the market indexes starting behaving better.
Arvind Mills 250 70.40
-- Your entry was bad. Based on today's action, I don't see a reason to pull it off.
Clutch Auto 150 120.19
-- Again a bad entry. I don't like the chart. Try to get out break even.
RPG Life Science 75 120.80
-- Not seeing anything wrong in the chart to pull if off. Any thing below 110 would worry me.
Tulip 88 291.10
-- Bad entry. I don't like where the stock is going now.
Even though I suggested a chart is good or bad, I don't want you to take my word in exiting the stock. Each trader's objective in exiting a trade is different. When U entered the trade, what was your exit strategy. Please follow your plan. Here is one of the trading rule that fits what I am saying. http://hellotrader.com/2006/07/15/top-12-trading-rules-5-of-12/
Some Interesting Links from www.kirkreport.com
1. http://hellotrader.com/category/top-12-trading-rules/
2. Rob Hanna on Admitting Trader's mistakes: http://www.tradingmarkets.com/.site/stocks/commentary/hanna/Trading-and-mistakes-by-Rob-Hanna.cfm
for MACD(12,26,9) - cross of signal line over EMA(9) line
for MACD(3,10,1) - cross of 0 line
Broad question. U could use trend lines, EMAs (& other tools) to read the future direction of a stock with certain confidence level. U have to understand that if there is 70% chance of stock going up, there is still 30% chance the stock going down. We can't achieve 100%.
Cipla 75 257.10
-- Doesn't look good. Here is your chance to get break even. You can always come back when the market indexes starting behaving better.
Arvind Mills 250 70.40
-- Your entry was bad. Based on today's action, I don't see a reason to pull it off.
Clutch Auto 150 120.19
-- Again a bad entry. I don't like the chart. Try to get out break even.
RPG Life Science 75 120.80
-- Not seeing anything wrong in the chart to pull if off. Any thing below 110 would worry me.
Tulip 88 291.10
-- Bad entry. I don't like where the stock is going now.
Even though I suggested a chart is good or bad, I don't want you to take my word in exiting the stock. Each trader's objective in exiting a trade is different. When U entered the trade, what was your exit strategy. Please follow your plan. Here is one of the trading rule that fits what I am saying. http://hellotrader.com/2006/07/15/top-12-trading-rules-5-of-12/
Some Interesting Links from www.kirkreport.com
1. http://hellotrader.com/category/top-12-trading-rules/
2. Rob Hanna on Admitting Trader's mistakes: http://www.tradingmarkets.com/.site/stocks/commentary/hanna/Trading-and-mistakes-by-Rob-Hanna.cfm
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I couldn't get hold of the charts for these stocks.
Market:
Its impressive how the indexes came back. Even better is the action in banks (BANKNIFTY). Will there be a follow on to this? Will the volume and volatility be better this time? Lets wait and see.
Link on Keeping Ego Out of Your Trades:
http://us.rd.yahoo.com/finance/exte...ml?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
This tenet was told by my friend before I started trading. When you have big paper loss, you are not only losing money on that stock. But, more importantly, it will affect your current and future trades till you close the paper loss trade. So, take the loss and move on.
Market:
Its impressive how the indexes came back. Even better is the action in banks (BANKNIFTY). Will there be a follow on to this? Will the volume and volatility be better this time? Lets wait and see.
Link on Keeping Ego Out of Your Trades:
http://us.rd.yahoo.com/finance/exte...ml?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
This tenet was told by my friend before I started trading. When you have big paper loss, you are not only losing money on that stock. But, more importantly, it will affect your current and future trades till you close the paper loss trade. So, take the loss and move on.
Here is the example of daytrading using EMA crossovers. Use % profit taking method to take profits. For example, by looking at a chart if you feel the EMA cross down will happen in Rs10, thats were your stop will be. If the stock goes in your favour, then you take profits as multiple of R is reached.
R = 10
1st R = 50%
2nd R = 25%
3rd R = 15%
4th R = 10%
Ofcourse, change the % to your convinience.
U need some improvisations to fine tune the no. of trades. U need to use 10 min, 15 min and hourly for selecting the direction of the trade.
Entry:
After crossover, try to enter when the price touches 8 EMA. Better if U enter when price touches 50 day EMA. Thats the low risk high reward play.
Exit:
Use bollinger bands. Don't forget to take % profits when price moves above the bollinger band. And never enter when price is above bollinger band.
R = 10
1st R = 50%
2nd R = 25%
3rd R = 15%
4th R = 10%
Ofcourse, change the % to your convinience.
U need some improvisations to fine tune the no. of trades. U need to use 10 min, 15 min and hourly for selecting the direction of the trade.
Entry:
After crossover, try to enter when the price touches 8 EMA. Better if U enter when price touches 50 day EMA. Thats the low risk high reward play.
Exit:
Use bollinger bands. Don't forget to take % profits when price moves above the bollinger band. And never enter when price is above bollinger band.
Attachments
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Hi vv, like ur views on
ROLTA, NAGARCONST, HINDALC0. <--- Short term (1 Month) View
bought ZEETELE@309 [email protected] today. <--- 3 to 4 days view
thanx in advance.
ROLTA, NAGARCONST, HINDALC0. <--- Short term (1 Month) View
bought ZEETELE@309 [email protected] today. <--- 3 to 4 days view
thanx in advance.
Rolta:
Wait for couple more days. Use MACD(3,10,1) > 0 for entry. Right now it is -6.99. If the market improves here on, then Rolta improves, we buy. The key in buying low is not buying when the stock is going down. Buying when the stock is recovering from low. Look below the V action. Buy on the right side of the V action. Rolta is on the left side right now.
\..../
.\../
..\/
NAGARCONST
-- Looks good. Coming out of the pull back at 280. 300 would have been good entry. If U enter now, look at 300 as the base support.
HINDALC0
-- Avoid this stock till it comes out the top of range at 180.
ZEETELE@309
-- Doing good. Beware of the long bars when putting stop.
[email protected] today
-- I would have waited for the pullback on the entry. Ofcourse, it depends on how you trade. There is good momentum in the stock.
Wait for couple more days. Use MACD(3,10,1) > 0 for entry. Right now it is -6.99. If the market improves here on, then Rolta improves, we buy. The key in buying low is not buying when the stock is going down. Buying when the stock is recovering from low. Look below the V action. Buy on the right side of the V action. Rolta is on the left side right now.
\..../
.\../
..\/
NAGARCONST
-- Looks good. Coming out of the pull back at 280. 300 would have been good entry. If U enter now, look at 300 as the base support.
HINDALC0
-- Avoid this stock till it comes out the top of range at 180.
ZEETELE@309
-- Doing good. Beware of the long bars when putting stop.
[email protected] today
-- I would have waited for the pullback on the entry. Ofcourse, it depends on how you trade. There is good momentum in the stock.
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