Stocks To Keep A Close Eye On
- Thread starter SavantGarde
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- Tags afl amibroker
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A small note from me: People who are interested to find reversal points should rather focus on candlestick charts. Candlesticks, many believe cannot provide price and time targets, so we will not go into it. But candlesticks can provide reversals. So novices looking for swing trading can go for this. Combine the candlesticks with Bollingers Bands(BB) using setting 20,2 (or 9,2) and if there is a reversal pattern near any band, trade it.
The rule is simplt: Hold your position(short/long/side) until a reversal looks likely. Don't put a "target" unnecessarily.
Ex: the 450 pts gain on SENSEX on 140709 (yesterday's session) was not really unpredictable. The daily SENSEX charts had formed 2nd day of bullish morning star(very high reliability) and also oversold(near lower BB). Due to sophisticated softwares available today, many may have generated BUY signals and hence people jumped.
The rule is simplt: Hold your position(short/long/side) until a reversal looks likely. Don't put a "target" unnecessarily.
Ex: the 450 pts gain on SENSEX on 140709 (yesterday's session) was not really unpredictable. The daily SENSEX charts had formed 2nd day of bullish morning star(very high reliability) and also oversold(near lower BB). Due to sophisticated softwares available today, many may have generated BUY signals and hence people jumped.
Stocks tumble the moment I buy a stock and spurt the moment I sell
Boy, I have the power to move the stocks,
Iam a layman when it comes to technicals, But 30 years of being in an investor in the stock markets has taught a me a how to loose more money than to earn.
All through these years i have noticed that shares fall when they are least expected to, hope to learn a lot from you guys, already Iam learning a bit.
I have a inkling that markets would fall in the last week of July or 1st week of August, a pattern which I have noticed, in my long association with the market, dont follow my sayings, just a thought, please forgive me if Iam wrong as I said Iam a layman, still learning to know that I can never learn the markets
Boy, I have the power to move the stocks,
Iam a layman when it comes to technicals, But 30 years of being in an investor in the stock markets has taught a me a how to loose more money than to earn.
All through these years i have noticed that shares fall when they are least expected to, hope to learn a lot from you guys, already Iam learning a bit.
I have a inkling that markets would fall in the last week of July or 1st week of August, a pattern which I have noticed, in my long association with the market, dont follow my sayings, just a thought, please forgive me if Iam wrong as I said Iam a layman, still learning to know that I can never learn the markets
Hi Uma,
It may be so. I can not confidently say that it would reinforce the result. But as we know Savant is having vast experience and can spot the signals with great accuracy. I would put it this way: As Savant has also got the two stocks in his list, my triggers also can be relied upon. But not the other way round. In fact I had a couple of stocks showing Buy signal from my analysis which are also there in Savant's list. But I did not post them because I have seen a particular pattern in those which does not give me confidence. One example is that of BANKINDIA. Although I have a BUY trigger yesterday it appeared to me that a little more increase in price is required to get confidence. After I get the signals from my program, I manually see the chart and decide. On inspection of chart of BANKINDIA, I found it had a particular pattern which suggests it is not yet ready to be considered as a valid signal. So, I can say it has come to 'BUY ALERT ZONE'. The criterion which qualifies a signal as valid has to be built into the program which I am not able to do right now. Therefore I inspect the charts manually and decide. Once I am able to code it into program then it will become more automated and mechanical. In my opinion, any signals generated programatically should be validated by manual verification.
-Anant
It may be so. I can not confidently say that it would reinforce the result. But as we know Savant is having vast experience and can spot the signals with great accuracy. I would put it this way: As Savant has also got the two stocks in his list, my triggers also can be relied upon. But not the other way round. In fact I had a couple of stocks showing Buy signal from my analysis which are also there in Savant's list. But I did not post them because I have seen a particular pattern in those which does not give me confidence. One example is that of BANKINDIA. Although I have a BUY trigger yesterday it appeared to me that a little more increase in price is required to get confidence. After I get the signals from my program, I manually see the chart and decide. On inspection of chart of BANKINDIA, I found it had a particular pattern which suggests it is not yet ready to be considered as a valid signal. So, I can say it has come to 'BUY ALERT ZONE'. The criterion which qualifies a signal as valid has to be built into the program which I am not able to do right now. Therefore I inspect the charts manually and decide. Once I am able to code it into program then it will become more automated and mechanical. In my opinion, any signals generated programatically should be validated by manual verification.
-Anant
19! WOW, great to know that you plan to start so soon! Wish I had.... Sigh!
You have discovered the right place to start here my friend! My sincere advice, read a lot, specially on Traderji, paper trade (very seriously) by using any of the free services on moneycontrol, rediff etc,
hope you make all your losses on these paper trades so that they prepare you when you are ready to invest real money.
Remember to invest only your risk capital (the weekend mall money and not your course fees!!) into the market
Wishing you all the best!
You have discovered the right place to start here my friend! My sincere advice, read a lot, specially on Traderji, paper trade (very seriously) by using any of the free services on moneycontrol, rediff etc,
hope you make all your losses on these paper trades so that they prepare you when you are ready to invest real money.
Remember to invest only your risk capital (the weekend mall money and not your course fees!!) into the market
Wishing you all the best!
Selective candle scan after closing of session 150709:
http://www.rohanshenoy.net/stocks/candle-scans/150709-css.html
http://www.rohanshenoy.net/stocks/candle-scans/150709-css.html
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