Some Good Steals...
- Thread starter AMITBE
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Hi Jay Raj...thanks for the clarification, and I'm happy you've recovered your losses and much more.
I'm also happy you're paying heed to Saint's guidance on money management. It'll make a better trader out of you.
There's another matter I wish to bring up here, part addressed to you and part generally spoken.
Over a period of time Saint and I mainly have been sharing our buy positions with the forum, and these are purely technical calls as is well known. More and more lately charts have been uploaded to underline the reasons for entry, likely targets are given, and stop levels are always given very clearly.
On most calls, as far as I can tell, stops are not hit and the stocks go ahead to projected levels and even more.
There are times when stops get hit, but there is always a great chance of a come back, and this has happened over and over again. The most recent example is Elder Pharma of course.
The reason is these are all sound technical calls, and not tips. Besides sharing our gains, these are primarily for sharing what little we know as well.
I am a consolidation-breakout trader and I dont normally trade pullbacks, nor do I take position or call flaring buzzing stocks.
I keep certain interesting charts on the watch list and observe price/volume action to anticipate breakouts. The virtue is I get the lowest possible entry and then ride out the maximum possible move. I pull out as close to the top as possible, and only then enter the pullback.
There have been several calls in quite recent times that are still in the midst of substantial moves.
Tata Power, Reliance Capital, Mcdowell, Bharat Forge, Nagarjuna Construction, GTL, GDL, Shanti Gears, Rolta, India Cements, Bata, Cummins, Greaves Cotton, Super Spinning, Gabriel are a few.
All these were called at the earliest levels of the breakouts. Some went ahead immediately, others dithered for a bit before moving.
Trading is an art and a skill, and a study in discipline.
The markets are sensitive, and prone to extreme risk.
Money management is vital to this. If one can do this much, the markets will not let us down.
The other point is, one has to be able to keep a calmness and equanimity while in position, and also learn to live with periodical losses which are a part of the game. Practicing money management does help reduce the risk factor substantially.
A while ago when getting stopped out of Elder, you had left behind a message here telling me how much you had lost on the trade, along with a 'frown'.
For all my calls, and for all the positions taken on them, nobody in their wisdom has ever come back to tell me how much money they made on them.
Now, there is nothing I can do about it if anyone gets stopped out, can I.
I also got stopped out. Thats just the way it is with the markets. (It seems there were IT raids at Elder's office which caused the sharp dip the day we stopped out.)
How well you manage your risk is your business, once you decide to enter a trade.
All I can say now is, this is pretty much it as far as buy calls go.
There will always be interesting charts and from time to time Ill certainly post them to point out certain details, to the best of my knowledge.
But as far as entry levels, projected targets and stop levels, no more of that. That would amount to giving buy calls.
There are enough buy calls being given at the forum.
Im still here amongst the Traderji community, and anyone wanting to post a query is welcome to do so, but only on technical issues.
Thanks and regards.
I'm also happy you're paying heed to Saint's guidance on money management. It'll make a better trader out of you.
There's another matter I wish to bring up here, part addressed to you and part generally spoken.
Over a period of time Saint and I mainly have been sharing our buy positions with the forum, and these are purely technical calls as is well known. More and more lately charts have been uploaded to underline the reasons for entry, likely targets are given, and stop levels are always given very clearly.
On most calls, as far as I can tell, stops are not hit and the stocks go ahead to projected levels and even more.
There are times when stops get hit, but there is always a great chance of a come back, and this has happened over and over again. The most recent example is Elder Pharma of course.
The reason is these are all sound technical calls, and not tips. Besides sharing our gains, these are primarily for sharing what little we know as well.
I am a consolidation-breakout trader and I dont normally trade pullbacks, nor do I take position or call flaring buzzing stocks.
I keep certain interesting charts on the watch list and observe price/volume action to anticipate breakouts. The virtue is I get the lowest possible entry and then ride out the maximum possible move. I pull out as close to the top as possible, and only then enter the pullback.
There have been several calls in quite recent times that are still in the midst of substantial moves.
Tata Power, Reliance Capital, Mcdowell, Bharat Forge, Nagarjuna Construction, GTL, GDL, Shanti Gears, Rolta, India Cements, Bata, Cummins, Greaves Cotton, Super Spinning, Gabriel are a few.
All these were called at the earliest levels of the breakouts. Some went ahead immediately, others dithered for a bit before moving.
Trading is an art and a skill, and a study in discipline.
The markets are sensitive, and prone to extreme risk.
Money management is vital to this. If one can do this much, the markets will not let us down.
The other point is, one has to be able to keep a calmness and equanimity while in position, and also learn to live with periodical losses which are a part of the game. Practicing money management does help reduce the risk factor substantially.
A while ago when getting stopped out of Elder, you had left behind a message here telling me how much you had lost on the trade, along with a 'frown'.
For all my calls, and for all the positions taken on them, nobody in their wisdom has ever come back to tell me how much money they made on them.
Now, there is nothing I can do about it if anyone gets stopped out, can I.
I also got stopped out. Thats just the way it is with the markets. (It seems there were IT raids at Elder's office which caused the sharp dip the day we stopped out.)
How well you manage your risk is your business, once you decide to enter a trade.
All I can say now is, this is pretty much it as far as buy calls go.
There will always be interesting charts and from time to time Ill certainly post them to point out certain details, to the best of my knowledge.
But as far as entry levels, projected targets and stop levels, no more of that. That would amount to giving buy calls.
There are enough buy calls being given at the forum.
Im still here amongst the Traderji community, and anyone wanting to post a query is welcome to do so, but only on technical issues.
Thanks and regards.
Hi Amit,
How are you? Well I totally agree to your point of view. Pls excuse me if ever down the road I also had upset you on some point of time. I totally agree with what u say here. On Saints thread someone wrote that we should ask for a stock also giving our view point and what got us interested in it. I think that is important. Its better that people(including me) use your saints and other learned ppls knowledge to enhance their knowledge rather than just ask for calls.
Even I started by asking abt stocks but I must say it is traderji community that inspired me to start learning TA, so I can make my own decisions.
Thank you to all you senior ppl and hope we keep getting your wisdom atleast to continue our learning part.
Rgds
Rahul
How are you? Well I totally agree to your point of view. Pls excuse me if ever down the road I also had upset you on some point of time. I totally agree with what u say here. On Saints thread someone wrote that we should ask for a stock also giving our view point and what got us interested in it. I think that is important. Its better that people(including me) use your saints and other learned ppls knowledge to enhance their knowledge rather than just ask for calls.
Even I started by asking abt stocks but I must say it is traderji community that inspired me to start learning TA, so I can make my own decisions.
Thank you to all you senior ppl and hope we keep getting your wisdom atleast to continue our learning part.
Rgds
Rahul
Re: Royale Manor & Mold tek
Hi Amit,
Thote I shud update..thanks
1)Royale Manor - 526640 trading at 33.5
2)Mold tek - 526263 trading at 79.10..can u let me know the targets from here on...loks posed for greater gains...for sure
3)need ur inputs on NELCO (504112)..cmp -129..shud i take a position in the stock..
Regards
Gaurav
Hi Amit,
Thote I shud update..thanks
1)Royale Manor - 526640 trading at 33.5
2)Mold tek - 526263 trading at 79.10..can u let me know the targets from here on...loks posed for greater gains...for sure
3)need ur inputs on NELCO (504112)..cmp -129..shud i take a position in the stock..
Regards
Gaurav
Hi Joshi, the link to Rallis and the chart is here: http://www.traderji.com/40918-post3418.html
Contrary to expectations, it's fallen off shaply, and holding above the suggested stop.
It's threatening to break down at the neck of a H&S now, if slips below 300.
May as well wait now to see if it'll make an attempt to rally to the right shoulder around 320 or so.
These are crucial levels now, as below this the positive divergence in MACD which is holding on so far will also break below the trendline.
It's not looking too good, am tracking and will update.
Keep the stop.
All the best.
Contrary to expectations, it's fallen off shaply, and holding above the suggested stop.
It's threatening to break down at the neck of a H&S now, if slips below 300.
May as well wait now to see if it'll make an attempt to rally to the right shoulder around 320 or so.
These are crucial levels now, as below this the positive divergence in MACD which is holding on so far will also break below the trendline.
It's not looking too good, am tracking and will update.
Keep the stop.
All the best.
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