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

[Saint]

saint give call of buy/sell

LOL .......

Saint

 

[Saint]

Remember Raj,all the criteria must line up before putting in a trade.....We want an intermediate uptrend,not an intermediate rally.How do we know?Pull out the Monthly charts.

Question no 1:Are we in a Primary Uptrend?If yes,turn to Weekly charts.If no,then why are we looking for longs and uptrends?Easier to look for shorts and dntrends unless you are trading an over extended move.

Question no 2:If the answer is yes to the previous question,open up the Weekly charts.Is the weekly in an uptrend?If yes turn to the Daily charts.If no,wait for a break of previous pivot highs on the weekly which signifies a change in trend.

The moment the previous pivot high on the weekly is broken to the up,you have your entry long..........the Daily usually lines up giving you an entry point as well.

Question no 3:Open up the Daily charts.

a)Although the weekly has triggerred an uptrend,the Daily has been in an uptrend for some time.Hold off.Keep on a strong watchlist and wait for a downtrend or a decline or a sideways move to enter.

b)Weekly and Daily triggers an entry at abt similar time.Buy with your stops in the Daily Charts.Trail Stops as per Daily Charts.Exit as per Daily charts.Look to reenter long again later.

c)Weekly is in a downtrend within a Monthly Uptrend.But when you have a look at the Daily Charts,it has triggerred a BUY.If you are anticipating that the weekly is going to trigger an uptrend soon and put a Buy,very careful.Strict stop losses and run if hit.Why?Coz' the weekly is still not officially in an uptrend.

Hundreds of other scenarios,I guess..........but the longer term charts have to line up,then only bother abt the Daily charts.

In the case above with HEG,it has formed a Primary Downtrend.It is now in an Intermediate Rally within a Primary Downtrend.......Meaning no trade.

So what do you do with HEG?Nothing much actually........just leave it alone and continue your search for that Intermed Uptrend and then latch on to the trade off the Daily charts.

Saint

 

[myvineet]

hi Saint.....I have a question regarding relation between stoping out & reversing a trade ...means is it necessary to reverse when we stoped? suppose we are long & in good profit position but we feel that further there is resistance & it can move down ...what should we do

a)we may book our profit & out ..... or

b)we will wait to stoped & reverse...

question 2

saint ..i just want to know about entry in gmr ..the weekly is just sidewayes.this is first sideway bar after four down bar in weekly..no hl/hh......i know there must be something in it if u enter there ...i just want to see what my eyes are missing

thanx & regards

vineet

 

[Saint]

hi Saint.....I have a question regarding relation between stoping out & reversing a trade ...means is it necessary to reverse when we stoped? suppose we are long & in good profit position but we feel that further there is resistance & it can move down ...what should we do

a)we may book our profit & out ..... or

b)we will wait to stoped & reverse...

question 2

saint ..i just want to know about entry in gmr ..the weekly is just sidewayes.this is first sideway bar after four down bar in weekly..no hl/hh......i know there must be something in it if u enter there ...i just want to see what my eyes are missing

thanx & regards

vineet

Vineet,

There are trades where we look only at the weekly charts.......there are trades where we are angling in an entry using the daily charts with the weekly as background.There are 60min trades,etc

The 60min Flow thread talks about the stop and reverse and always in the mkt type of play.GMR,JP,ABAN and SESA are trades taken there,going long and short.

Can you go over a 60min pivot high and take Rs22.22 and be happy with it?Sure.......your call.Do you want to trail stop and then keep taking profits on the way up?Sure.....why not?Do you wish to never take profits?Sure......once again,why not.

That was a play in that thread and got nothing to do with weekly charts or daily charts.......If you are a posn trader,and you don't like 60min and trade the weekly charts,then GMR is not a call.

GMR has triggerred an uptrend on the 60,.....still dntrend on the larger time frames.Please don't get confused..........a trade in that thread is using the criteria as per THAT thread.

Here,we are looking at intermediate uptrend and then buy the daily breaking out of a dntrend.........that basically is what we are looking at in THIS thread.

And,in the 60min Flow,there is no looking at resistance and support......it basically is trying to be in the trade.........forever if possible.

Please do not confuse strategies in different threads...........there are all types of strategies......for all types of time frames.....and for different mindsets.

Please don't look at Thread A and then get confused out looking at the rules of Thread B.....

Saint

 

[myvineet]

Vineet,

There are trades where we look only at the weekly charts.......there are trades where we are angling in an entry using the daily charts with the weekly as background.There are 60min trades,etc

The 60min Flow thread talks about the stop and reverse and always in the mkt type of play.GMR,JP,ABAN and SESA are trades taken there,going long and short.

Can you go over a 60min pivot high and take Rs22.22 and be happy with it?Sure.......your call.Do you want to trail stop and then keep taking profits on the way up?Sure.....why not?Do you wish to never take profits?Sure......once again,why not.

That was a play in that thread and got nothing to do with weekly charts or daily charts.......If you are a posn trader,and you don't like 60min and trade the weekly charts,then GMR is not a call.

GMR has triggerred an uptrend on the 60,.....still dntrend on the larger time frames.Please don't get confused..........a trade in that thread is using the criteria as per THAT thread.

Here,we are looking at intermediate uptrend and then buy the daily breaking out of a dntrend.........that basically is what we are looking at in THIS thread.

And,in the 60min Flow,there is no looking at resistance and support......it basically is trying to be in the trade.........forever if possible.

Please do not confuse strategies in different threads...........there are all types of strategies......for all types of time frames.....and for different mindsets.

Please don't look at Thread A and then get confused out looking at the rules of Thread B.....

Saint

thanx a lot saint...i will certainly take care about that ...

 

[dlcatt]

If I had to do it over again, I'd start with an introductory discussion:
"Managing Expectations." It might come across as sobering....the LAST thing a
prospective trader wants to hear....BUT better that than making uninformed
trading decisions and winding up a statistic.

 

[djsinha]

Dear Saint,
Suppose I buy a stock at Rs 100 for swing trading...means seeing the weekly. And furthur suppose the SL is Rs 95. Now if on a particular day the stock opens gap down at Rs 90....What will I do? Will I liquidate? That'll mean taking a loss beyond what my MM rule permits me.
Waiting for the reply.
Cheers
DJ Sinha

 

[Saint]

Dear Saint,
Suppose I buy a stock at Rs 100 for swing trading...means seeing the weekly. And furthur suppose the SL is Rs 95. Now if on a particular day the stock opens gap down at Rs 90....What will I do? Will I liquidate? That'll mean taking a loss beyond what my MM rule permits me.
Waiting for the reply.
Cheers
DJ Sinha

Hi DJ,

Yep,and that happens.....all a part of trading,my friend.

What I do is:I am in a stock at 100,with my stops at 95........it gaps down to 90,ouch,but well,all part of the game........watch the first 5min bar of the gap down day.If it doesn't get violtaed,it's still a HOLD.........stops a bit below that bar,if hit,you are out......no hope and pray,no boo-hoo,no what-if's......you are out,and you look to make your money elsewhere.

Saint

 

[Saint]

There will be a series of posts with charts over the next few days,some blah-blah advice that everyome probably already knows,but being stated anyway for that very new newcomer.................and then,that's it.

This thread closes within the coming week.

Saint

 

[jraj]

There will be a series of posts with charts over the next few days,some blah-blah advice that everyome probably already knows,but being stated anyway for that very new newcomer.................and then,that's it.

This thread closes within the coming week.

Saint

Please tell us how to reach you if we have queries.Which thread to post?

Thanks in advance
Jay Raj