Turtles CCI

[crown]

I Leave it upto you. It depends on how you want to understand the things. For me i go with the quote expressed by Einstein. "Everything should be made as simple as possible, but not one bit simpler".

Its good that you are understanding how the CCI is plotted. But dont complicate it with the working of the system.

Hope you get the point.

Thanks bhai
I am still trying to grasp the functional and logical nature of the CCI and the system.
In the mean time, jo me samjha hu wo share kar leta hu. plz correct me if I am wrong.
the mean deviation used in CCI, is the average difference occurred in the past number of candles (of a specific period) and to me it appears to be a good number to be added or subtracted from the previous high and low of the script in order to get expected probable deviation.
For example if the mean deviation is 2 rupees while the OHLC of some script is 99 102 97 101; then I think that for next day trading one can expect a movement between 95 (97-2) and 104 (102+2); and if the market is range bound, even some trades can be attempted on this basis i.e. buy near support (lows) and sell near resistance (highs).

And on this base, I tried to figure out some trades which I will be attempting tomorrow.
Short Unitech between 71.45 to 71.95
stop loss 72
target - 70.60

short Union bank between 323 to 323.50
stop loss 324
target 315

short GMR Infra between 57.75 to 58.50
stop loss 58.60
target 57.20

short container corporation between 1301-1315
stop loss 1316 or 1320 (as per the market)
target 1290-1270

Short Asian paints between 2410 -2419
stop loss 2422
target 2395-2380

Long Idea between 52.90 to 53.10
stop loss 52.75
target 53.65

 

[rajputz]

Hi crown,

CCI is just another way of trading the momentum with expecting probability of winning. Ultimate mover is the price and volume. Price value form the CCI, and not vice versa.

Its good that you are going in the inner working and understanding of how it is plotted. But how can be you sure that market will be range bound tomorrow. It can break to upside or downside also. In that case your stoploss can hit, or you can hit more target then expected. How can you be so certain in the market full of uncertainity based on some calculations. We try to take the trade which has highest probability of winning. In the real time, trade what you see and not what you think. That will help you.

Although you can keep these numbers in your mind while trading, but cant take trades blindly over assumption (as it leads to screwups).

Keep the numbers with you tomorrow. And only on evidence of high probability in trade going in your direction, take the trades. And use stoploss strictly as you have metioned.

Hope it helps.

 

[linkon7]

Thanks bhai
I am still trying to grasp the functional and logical nature of the CCI and the system.
In the mean time, jo me samjha hu wo share kar leta hu. plz correct me if I am wrong.
the mean deviation used in CCI, is the average difference occurred in the past number of candles (of a specific period) and to me it appears to be a good number to be added or subtracted from the previous high and low of the script in order to get expected probable deviation.
For example if the mean deviation is 2 rupees while the OHLC of some script is 99 102 97 101; then I think that for next day trading one can expect a movement between 95 (97-2) and 104 (102+2); and if the market is range bound, even some trades can be attempted on this basis i.e. buy near support (lows) and sell near resistance (highs).

And on this base, I tried to figure out some trades which I will be attempting tomorrow.
Short Unitech between 71.45 to 71.95
stop loss 72
target - 70.60

short Union bank between 323 to 323.50
stop loss 324
target 315

short GMR Infra between 57.75 to 58.50
stop loss 58.60
target 57.20

short container corporation between 1301-1315
stop loss 1316 or 1320 (as per the market)
target 1290-1270

Short Asian paints between 2410 -2419
stop loss 2422
target 2395-2380

Long Idea between 52.90 to 53.10
stop loss 52.75
target 53.65

I am glad you have tried to find out how a indicator gives a signal. This very essence of "observing the same thing differently" is what sets good traders from the rest...

CCI is designed to keep 70% of the trading range (of the period selected) between the 100 to -100 mark... what it means is, if you want to trade a break out, then one way of successfully trading this method is to scan for stocks that has crossed the 100 or -100 mark... As thats the period when price have broken out of its trading range...

look at the nifty chart of friday... every time cci crossed out of the 100 or -100 mark, price has broken out...

 

[vinodkiyer]

here afl as per crown's deviation method. extreme low/high is previous day H/L +/- mean deviation. calculated mean H/L is average price +/- mean deviation. I take it that the area between calculated mean H to extreme H could be a no trade zone and same for lows, as it cud lead to breakout/down. Crown to confirm. I also believe that average mean might work as it gives a range from history.

 

[crown]

Hi crown,

CCI is just another way of trading the momentum with expecting probability of winning. Ultimate mover is the price and volume. Price value form the CCI, and not vice versa.

Its good that you are going in the inner working and understanding of how it is plotted. But how can be you sure that market will be range bound tomorrow. It can break to upside or downside also. In that case your stoploss can hit, or you can hit more target then expected. How can you be so certain in the market full of uncertainity based on some calculations. We try to take the trade which has highest probability of winning. In the real time, trade what you see and not what you think. That will help you.

Although you can keep these numbers in your mind while trading, but cant take trades blindly over assumption (as it leads to screwups).

Keep the numbers with you tomorrow. And only on evidence of high probability in trade going in your direction, take the trades. And use stoploss strictly as you have metioned.

Hope it helps.

Thanks bhai
i will keep this in mind
and you are absolutely correct, how can i be sure of range bound market.
I will only take these trades if i observed the market going accordingly.
thanks again

 

[rajputz]

bhartiartl

DlF

DRREDDY

geship

punjlloyd

aban

Today i will just try to look on these shares according to system. No extra watch.

 

[crown]

I am glad you have tried to find out how a indicator gives a signal. This very essence of "observing the same thing differently" is what sets good traders from the rest...

CCI is designed to keep 70% of the trading range (of the period selected) between the 100 to -100 mark... what it means is, if you want to trade a break out, then one way of successfully trading this method is to scan for stocks that has crossed the 100 or -100 mark... As thats the period when price have broken out of its trading range...

look at the nifty chart of friday... every time cci crossed out of the 100 or -100 mark, price has broken out...
http://i48.tinypic.com/219s1lh.png[/QUOTE]

Thank you Sir

 

[crown]

here afl as per crown's deviation method. extreme low/high is previous day H/L +/- mean deviation. calculated mean H/L is average price +/- mean deviation. I take it that the area between calculated mean H to extreme H could be a no trade zone and same for lows, as it cud lead to breakout/down. Crown to confirm. I also believe that average mean might work as it gives a range from history.

thanks vinod bhai
this is great
thanks again

 

[crown]

bhartiartl

DlF

DRREDDY

geship

punjlloyd

aban

Today i will just try to look on these shares according to system. No extra watch.

ye tariqa theek hai bhai
me bhi in shares ko dekhunga aur kuchh samajhane kee koshish karunga

 

[crown]

rajput bhai
ek chhoti se request hai
aap live data kidhar se lete ho
mujhe nahi mil paa raha
aur jeb me thode paise bhi kam hai
koi rasta batao please jis-se kee saste me kaam ban jaye
thanks