New Intermed Uptrend!!

[rakeshluthra430]

Saint,
Will LITL (Lanco INfra) also qualify for this... with a sl at 388??

 

[Saint]

GMR INFRA steady move so far today climbing towards previous pivot high.....so far so good.

Saint

 

[Saint]

Thanks a lot for the logical explanation....my problem was monitoring a few lists... lists of what I have bought.... list of what looks probable buys... similar but shorter list for sells...
I guess I am a bit slow. May be not sure how I will manage a day of huge fall when a lot of stop losses get triggered and on the same hand some trades to be taken in opposite direction all at the same time... guess that will come with experience.

Thanks as always
Rakesh

Ah,that you will figure out over time,my friend....

Saint

 

[Saint]

hello Saint and senior traders... plz advise... i have short position in Nifty Futures at 4805.... should i book losses and exit at this price or should wait for a dip?? if it dips then wht would be the logical tgt for the dip and will it happen before expiry of April series! and should i go long at tht level?

Regards

ouch....200 points off from your entry point..

Very important to adhere to stop losses .......your time should not be going on all the above questions.Instead,mechanically exit out stopped and look for a million other opportunities.

I do my best to prevent situations like the above.......they are an absolute horror and have been through it many times before.I'd just exit and wipe the episode out of my mind and then look to put in a perfect trade that will give it all back.

Where it goes from here,when it will reach there,how long will it take.......all irrelevant for someone who follows the trend.We are traders,not crystal ball gazers,my friend!

Hope you don't have too many lots,rather I hope it's only one lot short.....

All the best!
Saint

 

[Saint]

Dear Saint,

Sorry if you felt annoyed by my query. I should have read the previous posts before raising this query.

Thank you for your quick response.

Regards

Reji

Nah,not annoyed at all........a bit exasperated perhaps,but not annoyed at all.....very happy to see a learning mind asking questions and resolving issues .....so keep em coming,my friend!

Saint

 

[Saint]

failed to understand why u bought..have u entered anticipating a pattern breakout??
weekly chart is almost static,same for dailies.last pivot high is at 225.95 on 31/3/2008.pls corect me im wrong.

Look for volumes coming in and sending price into a rally and then a long but mild gradient pullback on low volumes........yes,anticipate a move up even before it happens.

Stop loss very near........no big loss even if hit.But gains are huge...

Saint

 

[Saint]

Re: Parsvanath-Mystery.

Moreover, VVVV, the hourly is on its way to continue from a descending triangle, which is a fairly strong bearish continuation pattern.

Saint, resolve this Parsvanath-Mystery. Pupils are watching with dilated pupils.

grateful as always.
Amit.

No descending triangle on the hourly....post a chart so that can see what you are looking at.

Reason as stated in prev post.

Saint

 

[Saint]

ENTRIES into APTECH,AMTEK,ADITYA BIRLA,BOMBAY DYEING, DIVIS, EDELWEISS,GMR INFRA,INDIA INFOLINE, OMAXE, PARSVANATH,TATA POWER

RATIONALE :All same as descibed above..........rally on increased volumes and then a mild gradient pullback, a long-ish base forming a higher pivot low.

Only one of the above that is different :Bombay Dyeing......a wide range bar on increased vols.Bought the high of the breakout bar.

Also holding NIFTY futs.....yet to break out over prev pivot highs.

Looking to take profits off the table of a few.....shall update......why?Because we are still not yet in an intermediate uptrend as yet......if this move is after weekly also showing higher pivot lows,would be holding and just raising pivot low stops..........That day will come soon,but that day is not yet upon us.

We are trading the daily breakout,but for the weekly to make a higher pivot low,need to make another dntrend on the daily charts.......therefore a mild caution.

Saint

 

[vvvv]

Look for volumes coming in and sending price into a rally and then a long but mild gradient pullback on low volumes........yes,anticipate a move up even before it happens.

Stop loss very near........no big loss even if hit.But gains are huge...

Saint

gud call as usual..tht comes from experience i think & u get a hunch tht u may be right..sumtimes u win , sumtimes u loose.
were u anticipating a pattern breakout ??im attaching a daily chart of the last few days of parsvnath.pls tell me if im right or wrong

 

[milkyblack]

ouch....200 points off from your entry point..

Very important to adhere to stop losses .......your time should not be going on all the above questions.Instead,mechanically exit out stopped and look for a million other opportunities.

I do my best to prevent situations like the above.......they are an absolute horror and have been through it many times before.I'd just exit and wipe the episode out of my mind and then look to put in a perfect trade that will give it all back.

Where it goes from here,when it will reach there,how long will it take.......all irrelevant for someone who follows the trend.We are traders,not crystal ball gazers,my friend!

Hope you don't have too many lots,rather I hope it's only one lot short.....

All the best!
Saint

Thanks Saint for ur reply.... i know i should have followed my SL ... then i could have avoided this typ of situation and would have capitalized on the uprise... and could have shorted at abt 4900 levels... emotions are the worst thing i guess Saint in the market... would try to follow ur advice of mechanically gettin out of the trade.... i hope i can.... thanks a lot again Saint for ur valuable reply...

Regards