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

[nick721156]

Hi Sanefellow,

Great question......once again,apologies for the delay in answering your question.

As for an answer to your question,simply,we don't........we really cannot say for sure that this correction is going to be that one that will see a correction in the weekly charts as well.

But we have some ways to anticipate it.........few reasons to get nervous on the NIFTY over the last few weeks.We have a way overbought Stochastics ,the last time we saw Oversold was in October last year.We have a negative divergence on the TRIX and the RSI.We know that an important correction is coming,but as trend followers should,we do NOT predict a move.......opening the weekly charts,we have a way overbought Stochs and negative divergence on the RSI.Again,we know that a correction is in the offing,but we ride the trend till we see a break in it.So far,no break,we are fine.......

Now,we get this important break and a finish at the end of the day (monday)below our all important trendline.This intermediate uptrend that we have been playing from October till now is over.Nothing to do with long time frames,they are still very bullish.

As far as we are concerned,we are out of all longs,and now look to short every rally till once again things change to the up.The rally yesterday means nothing,except some intraday gains,and then today another big fall of 826pts.Looking at the weekly charts,nothing but a pullback.....but trendlines and a few indicators and a topping tail on the weekly gets the intermediate frame trader to get out early.

And as trend followers,we are not concerned to get out at an absolute top or bottom.We just want to get as much meat as possible in the middle.

Basically,important to integrate both the time frames.........it will all come as you pour over thousands of charts.

All the best!
Saint

Hi saint,

I have discovered this thread a couple of days back and 'have been reading since then. This has been a great work and it is making trading looks simpler than actually it is. This is the real character of a "good teacher".

I am very new to trading and have many queries to be clarified. To begin with, I have the following questions. You have said, "We have a way overbought Stochastics ,the last time we saw Oversold was in October last year.We have a negative divergence on the TRIX and the RSI." in the daily & weekly charts of "C&P CNX NIFTY". Now what are Stochastics and negative divergence on the TRIX and RSI ? How do you say that it is overbought and other negative divergence? Hope you won't mind to clarify!!

I have gaining confidence after going through your posts and 'am constantly telling myself that I shall follow the simple techniques you have taught us for trading purpose.

Thanking you.

Regards,

Nick

 

[suba_stocks]

Nick!

sorry to see your questions,but i request you to do some home work.
there are many websites, through which you can get answers to all your questions.

please go through the following website
http://stockcharts.com/

life become simple when we do lot of things ourself isn't it.

have nice trading.

suba

 

[ashokkg]

hi,
I appreciate ur initiative.....all the best.....

 

[pshirurkar]

Hi saint,
imust thank you for your tremendous efforts and amrvelous work you did for this thread
all the best for future work
thanks again.

 

[chanducool]

Hi to all,
I am a newbie futures trader trying to come to grips with trading.I for now feel(may be stupidly) news based trading backed up market movements are keys for trading in futures.I specifically want to know from seniors how to get reliable volumes and OI data.I am using sharekhan speedtradeplus and also refer to buzzingstocks.com to get trends.For abt last ten days sharekhan intraday reccos are just quite opposite to the individual share movements .I did lose some money bcs of their reccos but recovered abt 90%(more bcs of my luckk,i aver).
Thanks and regrds
chandu

 

[Saint]

Hi,
I have been asking the same question (How to catch a fish?) but till now I didn't get any..... Atleast I came across this thread and looking forward to enhance my skills further to a great journey.

Regards!
Sreeny

Hi Sreeny,

Good Luck to you,my friend,and wishing you all the very best on this journey.

Saint

 

[Saint]

Dear Saint,
No wonder you are "Saint" coz selfless sharing of knowledge by you is absolutely great. Thanks a lot. Pls. keep it up. I saw this thread just today &
suddenly I saw Rajeev's (rkgoyal_98) sharing his compilation.
Thanks a lot dear Rajeev.
I hope once I read the compilation I'll get the hang of it.
Three cheers to all you.
May GOD bless you all.
Pls. continue...

Thank you for your kind words,my friend,although I don't think I deserve it.All the best on your journey to great sucess!

Saint

 

[Saint]

Dear Saint,

Even though I am more than a month old member of this great forum , only today I got an opportunity to visit your thread. Simply superb. A complicted job neatly done. You are doing a great service to students of Technical Analysis. Keep it up.

Long live. Long live Mr Saint.

Regards.

Mohan

Thanks Mohan for those kind words......but let's drop the Mr. Wishing you all the best !!

Saint

 

[Saint]

Saint,
All of us have benifited in some way or other from your posts.

Asish

Thanks Asish........noticed quite a few posts from you over the last month or two.Haven't had the time to go through them,maybe tonight.

All the best,my friend!

Saint

 

[Saint]

Hi Saint
I Realy Dont Know How To Give Thanks! U Have Realy Taught A Man To Swim In A Water Like Fish.it Helps Me A Lot. Now I Dont Have To Depend On Others Tips.
Now Its A Regular Gain For Me.
I Use Candelstick Patterns With Few Indicators Like Macd, Ema Etc For Intraday Trading.
God Bless You.
Regards

Hmp.

Hi Hmp,

So very glad to hear it,my friend......all the best!!

Saint