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

.....that's greatness for you,the ability to put something in one line where we take a paragraph......and make you laugh as well!

Saint

ps:Still laughing....

Hi Mas,

A warm welcome to Traderji,and all the best!

Saint

Raja,

Let me confess straight away here. I do not know even 1/1000 of what you or Saint or CV or many other senior members know either about trading or about markets. But one thing I know. That is, if you start a seperate thread for one topic each and put your information and knowledge, all of us will benefit. I admire the way you tried to help me in my request thread on fibo calculator. Indeed I got a bonus in the form of risk calculator from you. Similarly, I read and understood many things from Saint's posts. What I am intending to say is that instead of trying to assertain who is better than whom, or to assert supremacy over another, why can't it be like this ------- Each one post something useful for the other members in seperate threads. I am sure all of us will benefit. I think by this, we can channelise our energies in a better and productive manner.
Thanks and regards
R.S. Iyer

Totally agree RS......Raja has got so much that he can share with us.Looking fwd to a new thread.We are all the winners..

In the markets it's a different thing......but over here at the forum,there is no superior or inferior,this hierarchy or that,.....we are all learners,we are all students of the markets,and we are all the benefactors in this free flow of knowledge.

Once again,looking fwd to Raja's threads......

All the best!
Saint

Raja,

Good points,my friend.........

Saint

ps:When you copy and paste,the bold-ness goes off,was trying to highlight a later point as great.

My wish too. Only i dont think i'll be a trader as great as CV (hey! then I wont have anything to look forward too any more!!! anyway by the time i reach half of CV's trading level, he would have produced his bot and that would be the end of it ).
all the best to asish. then i'll direct some of my mails to asish too!

I have to learn ABCs of humility from Saint. but dear saint:

imagine the lines you could have written to illuminate others in the time you spent replying. Why Saint?

bav,
In Saint's words you are pulling my leg.

Asish

Right,let's get back to learning and sharing............As said before,this thread was always for those who are new and to those who are relatively new.......the very fact that there are some who find this helpful for their first steps means that this thread will continue.

This thread has always been a service to the newcomer by a person who was once upon a time a newcomer as well.

Let us just look at a chart of NIFTY DAILY and WEEKLY.(Attached)

We have a downtrend from February coming into March.As we all know,a downtrend is nothing but lower pivot highs and lows.We then get a mini-rally in the first 2 weeks of March.Is this the time to BUY?BUY here and you are doing nothing but anticipating a move,predicting something and then hoping.......We are traders,we trade the uptrend,and we trade the downtrend.We therefore need to know when that downtrend is no more and we are sitting in an uptrend.

So,we do nothing in the first fortnight of March but wait........here again,we are talking of position trading......we wait,and wait for that opportune moment to strike as a tiger would ,waiting and watching his prey-to-be.As expected,a further decline from there,but it does not make new lows.Hmmmm........what's this all about?Are we going to buy now?Well,no again......then,a nice rally taking out previous pivot highs.Surely,this must be the time to go long,better now or never,better long here than miss the whole move?Time to buy?Nope,not yet!But why,we have higher pivot lows and highs.....it's a screaming uptrend.Why wouldn't we go long here?

Take a look at the weekly charts now........we have a 5 bar decline and then a big bar up.As far as the weekly charts are concerned,one bar up means we have a rally in a dntrend.Means,the daily charts may look like it's ready to fly,but the weekly charts say "not yet!".So we do what most of us hate doing......we wait!

And then comes yet another decline............hmmmm,yet again,it does not make new lows,and instead we have a rally into the close of that week.Now,look at the weekly......We now have something like a bottoming tail,and a probable higher pivot low.Now,we get that feel that our day is coming.......the high on that weekly bar is 3820.If this is taken out,most likely,we have a higher pivot low on the weekly and a possible new uptrend on the weekly charts.Possible,because we get to say that for sure once the previous pivot high of 3902 is taken out.......and that it does,by the end of that week.Over 3902 would be the place to add.

Where there is conflict between the daily and the weekly charts,.........wait!It's sometimes painful to wait and wait ,while our trader friends shout from roof tops.........but as position traders,our opportune moment is when the weekly and the daily is in line and is ready to fly.That point when they both scream that this is no more a downtrend,and a new uptrend has started,that is the point where we pounce,that is the point of entry.........we then hold,and again,wait for Sell Mode to kick in.

Till date,we are in an uptrend.........We have had swing downs and ups,but as a longer term player,we do nothing but hold till a pivot low on the weekly is taken out.So far that has yet too happen..........we are therefore LONG till the time comes to go SHORT.

Happy Trading!
All the best!
Saint

Attached Images

Nifty daily ,weekly.png (37.1 KB, 145 views)

Totally agreed,my friend......my apologies!

Let's fire away then...!Although,this thread may not be of any use to you ....... but like I said abt Raja,same to you.Your knowledge will be of great help to many,so looking fwd to a thread and an outpouring of knowledge from you too.

All the best!
Saint