Q & A with Traderji

[Roshanna]

hi rahul,
great picks ( if u did enter yesterday) esp suven

 

[rahulg77]

Dear Traderji,

Had a query on your exit strategy of using the previous three bar high/low as exit point. A fellow trader/member of traderji and I were discussing the system and were confused about one part. When u say previous three bar low when u go long( on a daily chart)

-u mean we see the previous three bars. See which bar out of the previous three bars has the lowest and then use low as an exit point.

-or u mean we take the bar which lies three bars before the trading day and take its low as exit point.

There was another point of discussion. If a stock rises for lets say 50 days continously. Can we draw a trend line joining the lows of that price rise. Or is it necessary for a stock to have a small pull back so we can use the pivot lows to draw a trend line.

Also, I am studing your system of playing breakouts of price patterns and I like this method of trading so far. I have already read martin Prings book on price patterns. Which other book would be of help to learn how to trade price patterns. Woudl you recommend reading encyclopedia of price patterns by Thomas N. Bulkowski if I know about different price patterns but want to leanr how to trade them. Or would you suggest some other book that would teach me how to trade the patterns.

Regards

Rahul

 

[Traderji]

Dear Traderji,

Had a query on your exit strategy of using the previous three bar high/low as exit point. A fellow trader/member of traderji and I were discussing the system and were confused about one part. When u say previous three bar low when u go long( on a daily chart)

-u mean we see the previous three bars. See which bar out of the previous three bars has the lowest and then use low as an exit point.

-or u mean we take the bar which lies three bars before the trading day and take its low as exit point.

There was another point of discussion. If a stock rises for lets say 50 days continously. Can we draw a trend line joining the lows of that price rise. Or is it necessary for a stock to have a small pull back so we can use the pivot lows to draw a trend line.

Also, I am studing your system of playing breakouts of price patterns and I like this method of trading so far. I have already read martin Prings book on price patterns. Which other book would be of help to learn how to trade price patterns. Woudl you recommend reading encyclopedia of price patterns by Thomas N. Bulkowski if I know about different price patterns but want to leanr how to trade them. Or would you suggest some other book that would teach me how to trade the patterns.

Regards

Rahul

The metastock formula for crossing the high or low of the previous 3 days is:


Close crossing above previous 3 day high
cross(c,ref(hhv(h,3),-1))

Close crossing below previous 3 day low
cross(c,ref(llv(l,3),-1))

Maybe this will help you understand it better

You need to draw up trend lines joining pivot lows!

Encyclopedia of price patterns by Thomas N. Bulkowski is an excellent read. you can read that.

 

[inxsofme]

Dear Sir,

Sir it's been a nice experiance here on Traderji. Hope to learn more from seniors.
Sir it would be very kind of you if u also give the code for amibroker as there are many using it for the analysis. Hope to see it soon.

Regards
Gaurav

 

[Traderji]

Dear Sir,

Sir it's been a nice experiance here on Traderji. Hope to learn more from seniors.
Sir it would be very kind of you if u also give the code for amibroker as there are many using it for the analysis. Hope to see it soon.

Regards
Gaurav

I am not familiar with amibroker, so perhaps you can ask in the amibroker forum.

 

[manoj1982]

Hi all,

I am a software engineer from mumbai. I was always interested in trading. I find this forum extremely useful in my venture. Right i am learning Technical analysis to trade successfully. To start with I have opened a online broking account and have ODIN diet. I do not know which software is required. Any thing more I need and where can I get it.

Thanks,
Manoj

 

[Traderji]

I do not know which software is required. Any thing more I need and where can I get it.

Thanks,
Manoj

If its technical analysis software you are asking about then you can check out amibroker and metastock. I would also suggest you to visit the software forum on this site.

 

[oilman5]

yes ,its my humble try to help

 

[oilman5]

yes.. its known to all , still i find helpful...thats why i attach
oilman5...

 

[wantamentor]

Traderji,
Often we see this kind of message while trading " Stock xyz breaches limit of 95%,you can not take any fresh positions in F&O in this stocks."
My question is how do they calculate that a certain stocks breaches it's limit.I mean, is any formula there?If yes,please tell and kindly explain.
Regards,
Wantamentor