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

[Saint]

hi master saint, thank you very much for your reply... really helps to get all the wording right so that we can reduce our guessing to minimal..

Most welcome,my friend!

Saint

 

[Saint]

Saint, I have some doubts regarding the exit you suggested in Rallis daily chart. I've attached the daily chart and my question is written in the chart itself.
Cheers
djsinha

Hi DJ,

An obvious gap down,on top of that made back the whole distance,and fell back to the point of open...........forming a topping tail.To top it all,a visual lower pivot high.........meaning you are worried!Raise stop loss to the bar that you entered........too many bearish signals,best to stay out if stops hit and reassess again the next day.

Saint

 

[Saint]

DJ,

Are those real trades on 3iINFO......if they are,all part of trading,look for charts that don't behave in that manner.Quite a few out there that don't behave in that same erratic manner as 3i..


Saint

 

[djsinha]

Hi DJ,

An obvious gap down,on top of that made back the whole distance,and fell back to the point of open...........forming a topping tail.To top it all,a visual lower pivot high.........meaning you are worried!Raise stop loss to the bar that you entered........too many bearish signals,best to stay out if stops hit and reassess again the next day.

Saint

OK I see. You mean to say......when I can smell something fishy, it's always safe to tighten the stoploss and it'll safegaurd our profits?

 

[djsinha]

DJ,

Are those real trades on 3iINFO......if they are,all part of trading,look for charts that don't behave in that manner.Quite a few out there that don't behave in that same erratic manner as 3i..


Saint

Yeah...those were real trades....and that's the most important lesson I learnt after 3iinfo. Now I look for smooth charts only...meaning those that show not too many price fluctuations.

 

[Saint]

DJ,

Chart attached!

Saint

 

[Saint]

OK I see. You mean to say......when I can smell something fishy, it's always safe to tighten the stoploss and it'll safegaurd our profits?

Right........

Saint

 

[Saint]

Yeah...those were real trades....and that's the most important lesson I learnt after 3iinfo. Now I look for smooth charts only...meaning those that show not too many price fluctuations.

Ah,great going,my friend!

Saint

 

[uasish]

Saint,

Rallis EoD upto 18th Jan ,the day DJ should have exited.
My Query:=

1)Shall we consider these type of stocks where the daily vol is abnormally low.
2) Shall we also look at the Candle strenght as per the upper & lower shadow.
3) Shall we also look at the Patterns as Trend line / Triangle etc.

Asish

 

[skarpio]

Every eye fixed itself upon him; with parted lips and bated breath the audience hung upon his words, taking no note of time, rapt in the ghastly fascinations of the tale

-- Tom Sawyer, Mark Twain​

I've just begun on this one. Not knowing many words of wisdom, I'm left to plagiarism.