I can help you with stock chart reading

[bharatk8]

......what do u mean to say by"Don't go after some truth which you think no body knows

Hopefully, you are not asking this question for argument sake. Because, I am not interested. We are here to make money. My trading philosophy (as I stressed in most of my replies) is that no methodology is wrong or right. You test it in the real market and you make money, then use it. Thats your edge. Every body should find their own edge (what they can do their best) and use it repeatedly (this is the key).

What I meant about the statement is, make trading simple. When you start trading initially, we come to the market with some pre-concieved notions. That you can easily make money and fast (read greedy). When you don't, you think people who are making money know something you don't know. They are using indicators and waves etc etc which you are not using. Thats the reason you are losing money. If you didn't have this thought, thats fine. I am talking in general.

Then you go after reading books, using new indicator for every new trade, change methodology etc etc. In the mean while, your portfolio still doesn't improve. I have done this like anybody else. Ultimatly, what I found is that, trading is just common sense. It is using probability to make your chances of winning high. Accepting the fact that there will be losses and it is the business risk. That winnings are going to compensate your losses and make you profits.

In essence, don't try hard. When you see the chart, it gives most (80%, to give a value) of the information. The remaining 20% may not relevant in most cases. So, why work hard going after that 20%. Since, you are leaving 20% (or whatever info) you may get some losses. But, assuming that you are following your methodology to the core, the losses may be minimal compared the effort you are not putting. Just make life easier. Don't spend more than couple of seconds (max 1 min) looking at a chart. Within that time, if you like it, study more like
1. Look at all the data (Ofcource, 1st thing you want to make sure is the overall index is doing good). Check it fits your methodology (this was the reason you picked this stock for detailed review)
2. Look at the sector
3. Check whether your position in this stock fits your money manangement plan
4. Make a go or not go decision.

Having said the above, nobody is stopping you from researching. You can continue to do that. I decided I am not going to do it. Its just personal. I found my edge and my final truth ( I spent my time before). I will just stick to it.

hi...do not get paranoid...that question was asked to have insight into your mindset............i request u not to be judgemental..............................................as book of ELDER was recommended by u,I asked the question to know whether that idea had any application,it can not be called "research".....don't u think that u should have answered it in straight forward way ?

 

[vvonteru]

hi...do not get paranoid...that question was asked to have insight into your mindset............i request u not to be judgemental..............................................as book of ELDER was recommended by u,I asked the question to know whether that idea had any application,it can not be called "research".....don't u think that u should have answered it in straight forward way ?

Yes. U are right.

 

[vvonteru]

RCoVL CHART LOOKING AND AT WHAT LEVEL CAN ONE ENTER.AND WHAT IS THE NEAR TERM TARGET?
I couldn't get the company. I find RCVL, RCAPVL. Can you give the name of the company and code.

Morarealty
Entered at 658 exited today at 920 after it showed weakness. Do you think it was a right move getting out now??
--- It depends. If U had planned it to come out based on % profits and came out, then U executed the plan. But, if U had come out because of general market conditions and not because of what U had planned earlier, then it may not work on long run. Adopt one policy and stick to it for all stocks.
From the chart point of view, I don't see any thing wrong. After going straight 300 points up, the stock is pulling back. Isn't that natural. In fact, if it didn't, I would be worried, because it is already over extended.


1) Essar Oil [give suggession for medium (2 to 3 month), long (1year)] period
I like the chart. I don't know what it will be in 2 or 3 months or 1 year. The stock will lead us. If it has the potential, we will be there with it for more than that period.

2) IDFC [Give suggession for only short term (20 to 22 days...]
Stuck in a trading range. It will be moving top to bottom (viceversa), until it comes out of the range.

Which do you rate higher ? Balram Chini or Bajaj Hindustan ?
They have similar chart patterns and have good volume. From TA point of view, I didn't find any difference. U can use price or fundamentals (P/E) to select one.

'Emami'
It looks good. It just didn't pull back for entry.

 

[jntrade]

Thanks for the links. This is what we can do by sharing. Isn't that amazing!! It would be nice if we have a page full of links (suggested software, data links, sector info, online scanner etc) provided for new members. It may even work for old members (who are wandering) too. What U say? Traderji (R U There?), do U agree?

Hi vv,
Thanks for the comments.
and
when we spend money it reduces from our bank
when we give stocks it reduces from our dp
when we give knowledge it increases more..
It is amazing! ..
again, below link points to a zip file from NSE which has complete stock code and titles from exchange.Oops!, if anyone forgot to change the order of columns(code and titles)before importing to Fchart it will be a terrible thing,like happend to me...!
http://www.nseindia.com/content/equities/EQUITY_L.zip
Thanks and regards
JN

 

[MH51]

vvonteru,

Keep up the good work you are doing.

 

[drvasurao85]

hello!
532712 Reliance Communication Ventures Ltd RCVL was the script i wanted your opnion on entry and target medium term
thanks
rao

 

[johnbest]

hi vvonteru

Excellent thread started by you....
Please guide me of MACD Signal (26 EMA, 12 EMA Fast Line) and 9 day average.... I m a newbie ........Is this signal he elpful?

have a nice day
JohnBest

 

[vvonteru]

Hi vv,
Thanks for the comments.
and
when we spend money it reduces from our bank
when we give stocks it reduces from our dp
when we give knowledge it increases more..
It is amazing! ..
again, below link points to a zip file from NSE which has complete stock code and titles from exchange.Oops!, if anyone forgot to change the order of columns(code and titles)before importing to Fchart it will be a terrible thing,like happend to me...!
http://www.nseindia.com/content/equities/EQUITY_L.zip
Thanks and regards
JN

JN, thank you very much for the all the info. The only thing left is handling the split info for stocks.

RCVL
--- The chart speaks for itself.

MH51
Thanks

MACD
--- I have a reply on this.
http://www.traderji.com/37772-post18.html

 

[jntrade]

JN, thank you very much for the all the info. The only thing left is handling the split info for stocks.

If we convert our prices using Settings>Price adjustments>Stock Splits,
Is it damage the prces for ever? can we revert back later?
Thanks
JN

 

[rvgandhi]

If we convert our prices using Settings>Price adjustments>Stock Splits,
Is it damage the prces for ever? can we revert back later?
Thanks
JN

In FCharts there is no reversal..... Pls be careful of the dates.. as the options are to modify prices for a date and before it... I have by mistake put the wrong dates and had to delete the entire stock and reenter.