Teach A Man To Fish And.........
- Thread starter Saint
- Start date
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Had given a chart on SAIL and where the entry and exit ought to have been........similar here.But shall post the chart nevertheless.
The strategy for Entry is verily the same as the strategy to Exit.......have been saying it all these last many months.
Probably,time for some revision ...... for those who are interested!
Saint
The strategy for Entry is verily the same as the strategy to Exit.......have been saying it all these last many months.
Probably,time for some revision ...... for those who are interested!
Saint
Dear Saint,
1)Is there any way we can find out that this pullback is not a pullback but start of a reversal and the pullback must not be used to enter longs. In my trading career , there had been many occasions when I entered long due to pullback but was out with a move on other side. For ex : 05/03/2007, 01/14/2008....etc
re:14/01/2008.....
Was there any trick by which we could have come to know that this is not a pullback but start of reversal.
05/03/2007 , that day also I was confused , long signal due to pullback but the market moved other day
2)While trading daily charts , we check trend of weekly charts. Break of trend line on daily charts , or break of pivot low on daily charts is a signal to exit longs.The trend line drawn from the low of 12/19/2007 to 12/28/2007 breaks on 01/01/2008-01/02/2008 , so exit longs ?right or wrong ? If we exit longs here we miss a good amount of rally , atleast 100 points from here. In case if we exit here what is the signal to go long again ?
3) saint, how do you deal with such conditions,
freak high-low on daily charts , many occasions the low or high is at extreme , freak high /low.
How do you scan stocks for our trading based on your method, up-trend stocks with higher pivots and down trend stocks with lower pivots.
There are occasions when our stop loss is triggered but we are unable to get out of position, like days when the index hits lower circuit or due to some news/ incident market tank down. For example: 04/19/2007 ,10/17/2007 etc.....
On certain days we want to go long , but the market just opens up and is up 100 points ..so how do u deal with such situations, how do u enter longs....02/04/2008...if I am not wrong the NS opned and was above 100 points and never came down .....
Thank you for reading me and replying me,
1)Is there any way we can find out that this pullback is not a pullback but start of a reversal and the pullback must not be used to enter longs. In my trading career , there had been many occasions when I entered long due to pullback but was out with a move on other side. For ex : 05/03/2007, 01/14/2008....etc
re:14/01/2008.....
Was there any trick by which we could have come to know that this is not a pullback but start of reversal.
05/03/2007 , that day also I was confused , long signal due to pullback but the market moved other day
2)While trading daily charts , we check trend of weekly charts. Break of trend line on daily charts , or break of pivot low on daily charts is a signal to exit longs.The trend line drawn from the low of 12/19/2007 to 12/28/2007 breaks on 01/01/2008-01/02/2008 , so exit longs ?right or wrong ? If we exit longs here we miss a good amount of rally , atleast 100 points from here. In case if we exit here what is the signal to go long again ?
3) saint, how do you deal with such conditions,
freak high-low on daily charts , many occasions the low or high is at extreme , freak high /low.
How do you scan stocks for our trading based on your method, up-trend stocks with higher pivots and down trend stocks with lower pivots.
There are occasions when our stop loss is triggered but we are unable to get out of position, like days when the index hits lower circuit or due to some news/ incident market tank down. For example: 04/19/2007 ,10/17/2007 etc.....
On certain days we want to go long , but the market just opens up and is up 100 points ..so how do u deal with such situations, how do u enter longs....02/04/2008...if I am not wrong the NS opned and was above 100 points and never came down .....
Thank you for reading me and replying me,
Dear Saint,
1)Is there any way we can find out that this pullback is not a pullback but start of a reversal and the pullback must not be used to enter longs. In my trading career , there had been many occasions when I entered long due to pullback but was out with a move on other side. For ex : 05/03/2007, 01/14/2008....etc
re:14/01/2008.....
Was there any trick by which we could have come to know that this is not a pullback but start of reversal.
05/03/2007 , that day also I was confused , long signal due to pullback but the market moved other day
2)While trading daily charts , we check trend of weekly charts. Break of trend line on daily charts , or break of pivot low on daily charts is a signal to exit longs.The trend line drawn from the low of 12/19/2007 to 12/28/2007 breaks on 01/01/2008-01/02/2008 , so exit longs ?right or wrong ? If we exit longs here we miss a good amount of rally , atleast 100 points from here. In case if we exit here what is the signal to go long again ?
3) saint, how do you deal with such conditions,
freak high-low on daily charts , many occasions the low or high is at extreme , freak high /low.
How do you scan stocks for our trading based on your method, up-trend stocks with higher pivots and down trend stocks with lower pivots.
There are occasions when our stop loss is triggered but we are unable to get out of position, like days when the index hits lower circuit or due to some news/ incident market tank down. For example: 04/19/2007 ,10/17/2007 etc.....
On certain days we want to go long , but the market just opens up and is up 100 points ..so how do u deal with such situations, how do u enter longs....02/04/2008...if I am not wrong the NS opned and was above 100 points and never came down .....
Thank you for reading me and replying me,
1)Is there any way we can find out that this pullback is not a pullback but start of a reversal and the pullback must not be used to enter longs. In my trading career , there had been many occasions when I entered long due to pullback but was out with a move on other side. For ex : 05/03/2007, 01/14/2008....etc
re:14/01/2008.....
Was there any trick by which we could have come to know that this is not a pullback but start of reversal.
05/03/2007 , that day also I was confused , long signal due to pullback but the market moved other day
2)While trading daily charts , we check trend of weekly charts. Break of trend line on daily charts , or break of pivot low on daily charts is a signal to exit longs.The trend line drawn from the low of 12/19/2007 to 12/28/2007 breaks on 01/01/2008-01/02/2008 , so exit longs ?right or wrong ? If we exit longs here we miss a good amount of rally , atleast 100 points from here. In case if we exit here what is the signal to go long again ?
3) saint, how do you deal with such conditions,
freak high-low on daily charts , many occasions the low or high is at extreme , freak high /low.
How do you scan stocks for our trading based on your method, up-trend stocks with higher pivots and down trend stocks with lower pivots.
There are occasions when our stop loss is triggered but we are unable to get out of position, like days when the index hits lower circuit or due to some news/ incident market tank down. For example: 04/19/2007 ,10/17/2007 etc.....
On certain days we want to go long , but the market just opens up and is up 100 points ..so how do u deal with such situations, how do u enter longs....02/04/2008...if I am not wrong the NS opned and was above 100 points and never came down .....
Thank you for reading me and replying me,
Saint
dear saint,
i am very thankful to you for your reply to my earlier queries. i was away on some official work and so could not thank you immediately. your reply has definitely instilled confidence in me though i am yet to make my first move. i already have made hardbound book of your teaching here and gone through that 5 times. things are becoming clearer with each reading.
today i just wanted to have something clarified with regard to YESBANK. as on date (14/02/08), it is in uptrend as far as monthly and weekly charts are concerned( i have considered 3 years eod data). however, it has started a pullback on weekly. but when you look at the daily chart, it is in a sideway trend. it has already hit the resistance line (around 268) thrice (can't call it a tripple top!!!) in the daily chart. today (14/02/08) in daily chart, it has made a bullish candle. my query is, shall we take position over the high of this candle at 242 or shall we wait till pivot high of 260 or resistance 268 is breached in daily. i am considering position trading.
feel free to reply whenever you find time. as i am not much convergent with all those system generated signals, relying heavily on your teaching. i want my method to be simple as emphathised by you.
thanks in advance.
regards,
nick
i am very thankful to you for your reply to my earlier queries. i was away on some official work and so could not thank you immediately. your reply has definitely instilled confidence in me though i am yet to make my first move. i already have made hardbound book of your teaching here and gone through that 5 times. things are becoming clearer with each reading.
today i just wanted to have something clarified with regard to YESBANK. as on date (14/02/08), it is in uptrend as far as monthly and weekly charts are concerned( i have considered 3 years eod data). however, it has started a pullback on weekly. but when you look at the daily chart, it is in a sideway trend. it has already hit the resistance line (around 268) thrice (can't call it a tripple top!!!) in the daily chart. today (14/02/08) in daily chart, it has made a bullish candle. my query is, shall we take position over the high of this candle at 242 or shall we wait till pivot high of 260 or resistance 268 is breached in daily. i am considering position trading.
feel free to reply whenever you find time. as i am not much convergent with all those system generated signals, relying heavily on your teaching. i want my method to be simple as emphathised by you.
thanks in advance.
regards,
nick
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