Teach A Man To Fish And.........

[anoopkumar]

Dear Sir,

Thanx alot for clarifying all the doubts raised my me in a lucid manner. The reply coming in doses is like sustained release to keep us agog with excitement for further quest of knowledge. Regards!

-Anoop Kumar

 

[Saint]

Dear Sir,

Thanx alot for clarifying all the doubts raised my me in a lucid manner. The reply coming in doses is like sustained release to keep us agog with excitement for further quest of knowledge. Regards!

-Anoop Kumar

Most welcome,Anoop...

Saint

 

[sandeep721]

Dear Saint

I am a newcomer to this site and I have learnt a lot thru your forum. Basically I am trying to learn TA and your teachings have helped me immensely. Thanks a million from me and many others who have benefitted from your teachings

Sandeep

 

[Chabbur]

Hi ,

I joined this forum few weeks ago and have been going thru your thread. Its wonderful and I love its simplicity.. I have read trend lines, pivots, chart patterns etc.. and I have a question for the seniors out there.

How do I pick up stocks from among those thousands out there? Right now I'm picking up stock names that I read here and there and looking at their charts in www.icharts.in. And I find it is on a rally, so can't buy now.. (paper trading)

Should I use TRIX along with ADX (mentioned by you in an earlier post) to identify stocks which may have change in trends or breakouts from consolidation?

Thanks
Chabbur

 

[gupta.deep]

Hi ,

I joined this forum few weeks ago and have been going thru your thread. Its wonderful and I love its simplicity.. I have read trend lines, pivots, chart patterns etc.. and I have a question for the seniors out there.

How do I pick up stocks from among those thousands out there? Right now I'm picking up stock names that I read here and there and looking at their charts in www.icharts.in. And I find it is on a rally, so can't buy now.. (paper trading)

Should I use TRIX along with ADX (mentioned by you in an earlier post) to identify stocks which may have change in trends or breakouts from consolidation?

Thanks
Chabbur

This is really a very difficult dillemma for a new comer , and all of us new comer would ask this question. I second Chabbur's question and request the senior members to throw some lights.

In other words (in the spirit of this thread), which fish to catch !!

SKG

 

[gupta.deep]

Hi SKG,

Option 3: Definite no........Your ongoing trade just confirmed that you were right.Probably could add,depending on how charts shape up at that time.But no way are we going to wait till then to put in that initial buy.

Option 2:Looks like a short below this area where you marked.........yes,so long as the particular stock stays above this point,we are in sideways mode.Staying above this point,but below the arrow mentioned as Option 1 means we do not put in a trade.We wait and watch.

Option 1:This is where I would look to reenter long provide it can take out that previous pivot high as mentioned in the chart.We got our low(where the Option 2 arrow is pointing),we now have a higher pivot low.But we don't know we have one till the stock/index goes above that previous pivot high as pointed by the Option 1 arrow.

So where we stand as per the chart attached by yourself is:If the index/stock dumps to below the Option 2 arrow,short with your stop loss at the pivot pointed by the Option 1 arrow.

If the index/stk goes above the pivot marked as Option 1,Buy with your stop at recent pivot lows.

If the index/stk does neither,sit on hands time.Sidelines.Wait and Watch.Entry only once the direction of the flow is clear cut...Our job is to assess the direction of the flow,and then to Go with the Flow.

All the best!
Saint

Hi Saint,

Thanks indeed for a very lucid and simple explanation.

SKG

 

[gupta.deep]

Congratulations for completion of 1000 Posts. It's been a splendid thread and I wish it completes 10000 Posts in future.

 

[anoopkumar]

So ,in summary, when we get a daily uptrend within a weekly uptrend,do not look for pivots to get in.If the chart gives you a pullback,the pullback hasn't violated any pivots,and we are still in a daily uptrend within a weekly uptrend,do a candle by candle analysis.As in the two examples cited by yourself,every candle has a lower high and lower low,.......the moment we get a candle that takes out the previous day's high,that's all we need.We jump in,wait and ride the trend once it takes off again.

Dear Sir,

This is with reference to above ie re-entry criteria as explained by you for NIFTY daily chart Dt. 29 NOV. Initial trade was stopped on 18th Oct because of last pivot low of 5403 having been taken out. Then the re-entry was made on 23rd Oct once the high of previous candle was taken out.

My question is normally when any trend is broken after a sustained long run, sometimes it leads to formation of bull/bear trap midway. In this case, it might have led to formation of bull trap begining 23rd Oct. How does one preclude this possibility. Else as you say there is really no way to find out on 23rd Oct, whether intial uptrend will resume or downslide shall continue after formation of bull trap. Is observing a tight stop loss the only way to rule out that possibility of bull trap or is there any other clue?

I request you to pl. clarify above and clear the part of cobweb still remaining. Thanx and highest regards!
-Anoop Kumar

 

[shashank]

Congratulations for completion of 1000 Posts. It's been a splendid thread and I wish it completes 10000 Posts in future.

Yes,Saint.Congrats for the completion of 1000 posts in this great thread.

Shashank

 

[Dhanya]

Congrats and thanks,Saint!

Dhanya