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

[Satyen]

Hi
Saint thanks for your ACC example .........
if one wants to trade in daily chart
taking weekly as guidance .... then for buy set up
weekly has to up and we use pivots in daily to buy
but we should detect as soon as weekly turns into uptrend
so what are the criteria that confirms that we are going
to have weekly uptrend ......

some methods like WRB after consolidation or breakout from triangles etc
please tel us more methods to detect trend at its
initial stage

Regards
Satya

 

[marcus]

Dear Saint,
Kindly explain Fibonnaci Numbers and how we can use them in trading..may be day trading or position trading.


Thanks.

-Shail

Shailesh,

Babypips is great for fib retracements, in addition to this I suggest you read DeNapoli's book on fibs its the best written so far (mainly in context to forex but can be applied to stocks and futures as well) you'd be years ahead of the pack.

 

[marcus]

Dear Saint,

I too have that question, is it necessary or rather do you normally have the overall market trend in the same direction as the positions you intend to take?

 

[Saint]

Dear Saint,

I too have that question, is it necessary or rather do you normally have the overall market trend in the same direction as the positions you intend to take?

Most of the time,Marcus.....

Saint

 

[Saint]

Very Nice example for newcomers.
I have two doubts.
Between March 12-19, there is apivot low and pivot high. Any reason for ignoring that for trailing stop?
In delivary trade, shorting is not allowed as per my knowledge. Is it futures market? If so can the delivary trade charts can be used for futures?

Was using that as an example,lvg........would be great if you could post a chart to make sure we are both seeing the same thing.

Saint

ps:Yes........meant shorting the ACC futs

 

[Saint]

Hello Saint

Chart of nifty, last 5 sessions on 5 minutes time frame. Your comments plz.

Warm Regards
Rakesh

Hi Rakesh,

Below some ideas from last 5 days..........more of a long till short,and then short till long strategy.

Saint

 

[uasish]

These charts show us how to keep trading a simple thing.Just few days ago ,Satya WRB
(Wide-Range-Bar) ,the simple rule,Saint taught me will remain etched in memory.
Saint plz explain it once again.
Just saw a post of Traderji,how to arrive at price Tgts,the simplest one line Rule,we try to
make these simple things complicated & give them Hi-Funda connotation only by doing these we get a sub-concious sense of protection while working in the Mkt.
Only a crystal clear concept can teach us so simply,Unfortunatelywhich we lack.

 

[marcus]

Dear Saint,

Could you tell us if u trade on both BSE & NSE and the series(group) of stocks u trade, or do u scan the entire gamut of stocks on the exchanges for certain criteria which you then add to your watch-list for possible trading?

Could you also tell us if you're entirely a day trader?

thanks

marcus

 

[marcus]

Hello Saint,
We will all eventually study those 1000 odd charts and imbibe the principles given in here by Saint, but shutting out that Noise, may still remain our Rubicon to be crossed.

Best Wishes
Rakesh

Dear Rakesh,

Which 1000 odd charts are you referring to?

 

[uasish]

Rakesh,
There is a stage in all Trader's journey where we Unlearn & revert to Simple things,mixed with our experience the next journey begins,this is the precise reason why i always refer in chat room to any new member to go thru Saint's Thread 1st,the journey gets shortened,which like Satya many is strictly following.
Asish