Queries From "Teach a Man to..." thread!!

[kenneth]

Aad I dont why there is so much fuss about all these % pivots and zig zag function. I myself was using this idea sometime back with 5% pivots only but later found out that using larger % makes us leave too much of money on the table as we get signals sometime after very long time and we miss the trend change signals given by smaller 5 pivots. While using smaller % pivots the problem is that we keep on getting whipsawed too many times, believe me I have tried all these methods and they make much lesser money than Saint's original method.

BTW, Trading pivots in itself is so satisfying that I wont want to miss that part and added advantage is that we are making more money using classical signals. And tell me who has himself not got the time to track a few stocks in his portfolio, I do have.

This mechanical system's only use I think is that we can backtest various stocks which give best results with pivots methods, thats it though I even doubt that this purpose also gets solved

Hi prabhjeetrana

There is no fuss about all these % pivots and zig zag function. And there is nothing wrong in Abbay spending his time on the week end designing the system. It will help in scanning exploring not only help in backtesting. So why not if one has the skill make full use of the computers. By the way nobody has posted any results of backtest.



Regards
ken

 

[sam_chinks]

Hai Saint,

Forwarding ICICI BANK's Hrly chart and Daily Chart. My question is, Is this a Top Island Reversal Pattern?? Can it b shorted n wht should be the stoploss here??


N secondly on daily chart is it a uptrnd, since it first made a lower low n cracked d previous Pivot High??

looking forward to your reply.

Thanks n Regards......

Gaurav

 

[sam_chinks]

Hai Saint,

Forwarding Daily Chart of BOB, My question are.....

Firstly since it made a bearish enuglfing on Thaursday, so I shorted it on friday opening. Now wht should be my stoploss.

Secondly since its on uptrend in dailies(LL n HH), So should one go n short a stock which is in uptrend jus because u'v a bearish engulfing pattern. Which factor one should consider, while taking a decision, an Uptrend or Bearish candle.

Regards.....

Gaurav........

 

[AceX]

Dear Saint,

Please accept my deepest of gratitude [as of now, I am actually feeling like I have hit upon a pot of gold!] and humblest of pranams ...

I would like certain guidances regarding this chart, HDFC Ltd... I am attaching the chart.

I am just a novice, so please bear with my questions...

1. Is the intermediate trendline drawn all right?

2. Secondly, doesnt HDFC Ltd look bullish, even the MAs are going above the trendline?

3. If we do indeed enter the trade, is the stop loss around the lowest point of the previous pivot point [marked with an arrow] all right? It is around 2048?

4. Is it rational to expect, a brief pullback to the "just resumed" bullish trendline? All the indicators are telling about the same ol' story "too high too fast"?

 

[tinchu76]

Dear all Sr. Members,


Upon advice from Mr.Ashish I have been goint thru' Saints thread Teach a man Fish..... With what knowledge I obtained from it I am posting herewith my very first chart of t/days nifty (1mnt.)in this forum & thread. I had spotted the HPH, HPL,LPH & LPL. Pls guide me where i am wrong and right??

Request u to post ur HPH, HPL,LPH & LPL to enable me to u/stand better.

Am yet to start trading so pls advice/guide me??

Thanks,

Rohit

Excellent Rohit,plz ask the Teacher Saint himself at his thread.


The Following User Says Thank You to uasish For This Useful Post: tinchu76 (Today)

Dear Mr. Saint,

Above post was posted by me in " Nifty futures Trading". I am directed to u to kindly guide me where i am wrong / right?? Secondly Sir where can i post my doubts/ Clarifications.


http://img112.imageshack.us/img112/2763/nifty1kw5.png

 

[openwithsmile]

Re: Queries From students of Saint

Thanks for the analysis

 

[Saint]

Hai Saint,

Forwarding Daily Chart of BOB, My question are.....

Firstly since it made a bearish enuglfing on Thaursday, so I shorted it on friday opening. Now wht should be my stoploss.

Secondly since its on uptrend in dailies(LL n HH), So should one go n short a stock which is in uptrend jus because u'v a bearish engulfing pattern. Which factor one should consider, while taking a decision, an Uptrend or Bearish candle.

Regards.....

Gaurav........

Ouch Gaurav......very irresponsible on my part......sincere apologies,my friend.

Stop loss at previous pivot highs,the high of that Bearish Engulfing Bar.

As for the second question,different traders have different styles........I never go against the trend except in a 60min Flow type of trade.So,if the daily has swung into an uptrend,and we get a Bearish Engulfing Bar,I would not trade it.

But looking at the Bearish Engulfing Bar,I might capitalise on it in a smaller time frame the next day.But to the question,would I just looking at the daily charts,which is in an uptrend,and seeing the Bearish pattern,trade the pattern......that answer would be no.

Saint

 

[Saint]

Dear Saint,

Please accept my deepest of gratitude [as of now, I am actually feeling like I have hit upon a pot of gold!] and humblest of pranams ...

I would like certain guidances regarding this chart, HDFC Ltd... I am attaching the chart.

I am just a novice, so please bear with my questions...

1. Is the intermediate trendline drawn all right?

2. Secondly, doesnt HDFC Ltd look bullish, even the MAs are going above the trendline?

3. If we do indeed enter the trade, is the stop loss around the lowest point of the previous pivot point [marked with an arrow] all right? It is around 2048?

4. Is it rational to expect, a brief pullback to the "just resumed" bullish trendline? All the indicators are telling about the same ol' story "too high too fast"?

Hi Ace,

Thanks for the kind words....

1.Nope on the drawing of trendlines........do get back to the "Teach a Man..."thread and have a look again.

2.Yes,bullish.....broken previous pivot highs,WRB on high vols

3.Yes.

4.Maybe....may be not.All that we can do after our Entry is to manage Risk.We hold our Stops.......Trail it upwards,and see what happens.

Saint

 

[kmkale]

Are you sure ? Agreed that this forms only one ingradient of Saint's system. But zig() function is used for pattern recognition and we are very well able to identify the pivots using this code. Once again, there are some 'whipsaws' when we use lower values for '% change' (this is a confusing parameter... we are trying to corelate this parameter with '% change' of adjacent candles or adjacent pivots which is not the case actually) and smoothened values when higher values of '% change' is used.

Your post has given me a work for this weekend... I will try to design an automated trading system (I mean signalling system) based on this. Will post if any help is required.

Edit : Yes... I am not able to identify ALL pivots everytime (especially during intraday charts). So does not look like a straight forward task...



Thanks. Following this thread closely.

Regards,

Abhay

Dear Abhay,
Did you get around tocompleting this system? If yes or even if its a work in progress I would be very interested in having a peek at the AFL..
Thanks and regards
Koustubha

 

[akul]

dear saint,
hats of to u for all ur priceless work
great efforts.
i have learnt ot from this forum
one querry is here
is it the cup n handle in the chart of punj lloyd?
second is how to decide target after defining pattern?
http://img87.imageshack.us/img87/5047/punjtr7.png