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

Saint · #**991** 21st November 2007, 03:52 PM

Quote:

Originally Posted by newbee

Hello Saint

Thanks for the chart.

nb

Most welcome,my friend...

Saint

Saint · #**992** 21st November 2007, 03:54 PM

Quote:

Originally Posted by caprice

Dear Saint,

Thank you for the warning and the courtesy shown. I know what you mean, I have been on the receiving end many a times before. Those times were hard. But now I think I have mastered the art of patience and being non-greedy. So I want to try the new me again.

As always I heed to your advice as a student should from teacher.

thank you again

Best Regards

Caprice

Good for you,Caprice.....and all the best!

Saint

sudoku1 · #**993** 21st November 2007, 04:02 PM

Quote:

Originally Posted by Saint

Hi Amit,

Usually indulge in all three,intraday,swing and position........but Nifty futs I am in and out by the end of the day.

Saint

friend ,who says one cant predit the mkts with just the help of TA.....??
GO THROUGH MY POST 'bulls reenter abv 20025 close'.....

Saint · #**994** 21st November 2007, 05:29 PM

Quote:

Originally Posted by anoopkumar

Dear Sir,

Would you like to offer your valuable comments on enclosed nifty daily chart. Will it not qualify as Bump and Run Reversal (BARR) pattern? I shall be grateful for your reply.
Thanx and regards!

-Anoop Kumar

Right on,Anoop...

Saint

Saint · #**995** 21st November 2007, 05:48 PM

Quote:

Originally Posted by sudoku1

sorry for iteruption.....but i would advicce to wait before entering longs for the sensex to close abv 20025 ( read my posts...bulls ,reenter abv sensex close of 20025 ).....u may miss the opport to make 50-100 nifty points if sensex closes abv it ....but.....opports will come everday in ur life...but capital once gone is hard to come by......

regards ;
sudoku1.

Quote:

friend ,who says one cant predit the mkts with just the help of TA.....??
GO THROUGH MY POST 'bulls reenter abv 20025 close'.....

Ah,well done,my friend....Haven't had the time to frequent the abovementioned thread though,but shall do as and when time permits.

Strategy wise,if you were an intraday trader,well,then all those levels are not of any concern......one merely tries to follow the trends on a very short time frame.

If you are a long term trader,well,then you would have been long from really long back......this is so far nothing but a blip in the huge uptrend.

If you play the intermediate uptrend,and you picked off the top,well done,Sudoku......but am not too sure about waiting for it to close back above the levels before going long again.Well,if the strategy works for you,........then that's that,I guess.

Predicting the market?Hmm.......great if you are able to do it.I basically do not believe markets can be predicted,therefore I follow trends......but since we are at predicting markets,do tell us where this correction will end.Yikes,one more doubt.......If you could predict where this fall would end,then why would you wait for 20025 to get back long?(Asked out of boyish curiosity and a willingness to learn,plz do not take it any other way.)

All the best!
Saint

Saint · #**996** 21st November 2007, 06:09 PM

Quote:

Originally Posted by soppimath

It is real eye opener for beginners and a pearl centre.

Thank you for your kind words....

Saint

Saint · #**997** 21st November 2007, 06:35 PM

Quote:

Originally Posted by newbee

Hello

DB & DT patterns seem to work quite well, intraday. How effective are these Ws & Ms on EoD charts?

Intraday chart with 5 minutes time frame, and a close up of the daily chart.

Thanks
nb

Hi Nb,

Many great runs end with a Double Top or a Head n Shoulders.........the problem:Till the trough cracks,the pattern doesn't qualify as a DT.So too,with a H&S,no confirmation till a neckline crack.As traders,we are not in this guessing,anticipating game.........So the trough has to break to the down,with an increase in volume before we can call it a reversal pattern.

Otherwise,nothing but a sideways pattern in motion.

Very profitable,so long as you can resist the urge to anticipate and get in earlier before the break happens.....

Saint

Saint · #**998** 21st November 2007, 06:36 PM

Quote:

Originally Posted by munde_77

Thank you Sir, for nice chart and especially for tecahing.

Most welcome,Munde.

Saint

Saint · #**999** 21st November 2007, 06:50 PM

Quote:

Originally Posted by newbee

Hello

Days like this make trend following worthwhile, just follow the price action, yes we do need to know our time frame

.

Do, we get a retracement to 5730-50 from here ?

M, Loving iT

Thanks
nb

Yes,Nb,today was a straight forward day.......was an easy short and then adds.

No idea about the 2nd question.....all I do know is that if we get a biggish gap down to an area of support,then I would be thinking long......but many iffs and buts between now and tomorrow,so let's see.

Wherever we get to(if long),will be out once crack of prev pivots.....where that would be,let the mkt decide.

Saint

Saint · #**1000** 21st November 2007, 07:02 PM

Quote:

Originally Posted by newbee

Hello SAINT

The question of Time Frame selection keeps coming back. Always get the same answer, whatever you are most comfortable with. Agree and accepted.

The smaller the TF, the greater the number of wipsaws and number of trades adding to cost. The higher the TF, bigger will be the distance of the stop thus increasing the initial risk.

This is what i saw on yahoo 1 day and 5 day charts, I think by default they give 1 min and 5 minute candle. Know, its been repeated many times, but if you can add your comments on TF selection, will be very helpful.

Thanks
nb

I don't use the 1 or 2 min time frame.....quite content with my 5 and 60 for direction.If you are comfortable with the 1min with the 5 as your base direction,well,then that's that......depends on our individual comfort levels.

So long as initial risk:reward is kept at 1:1 in intraday or greater,well you have a trade on your hands.......If you mean by initial risk,you would be risking more by having a stop loss that is further back,not true.That would be where your position sizing comes in.On a larger time frame,you would be having less number of lots for a bigger move.On a smaller time frame,you would be taking more lots for a smaller move.Either way your risk to your account is the same.

Saint