Learn How To Fish

[VJAY]

Deleberately avoided 1st bar today for trade purpose ...though no trades today....

 

[VJAY]

Another gem from ST sir...How great teacher he is ...in simple way he teach everything....We all very
much lucky to having with us in traderji...Am sure many are grown by his teachings me too ...Thanks ST da your selfless help and always spending time with us....

Pivot upgrades is one of the most powerful but least understood part of this method. The thread gives pivot upgrades information with charts/diagrams and we can see the actual example in the crude oil chart posted above.

When the market closes below the ERL ,the ERL shown by black horrizontal line becomes an operational ERL . When marker closes above that ERL at point B, point A gets upgraded to VPL. Then at point C the market closes below the ERL making point B as a VPH...so now we have VPL and VPH very close to each other and when the market goes above upgraded VPH B , it gives a reversal signal of earlier downtrend.

A word of caution...use upgraded pivots only for entry/exits...for trend identification in larger picture ,go with normal VPL/VPH....

The pivot upgradation gives a good entry into a potential uptrend at very near to the bottom with close stoploss....

Use this when the market has an extended move and we are expecting a reversal...not to be used when the move is just starting and in sideways moves...

Smart_trade

 

[VJAY]

Dear ashcom,
1.As I told you in earlier posts once you start trading this method you will find many ideas to tweak your trades specially in TSL and exits ...I reco you trade with basic rules...not much think about my TSL/Exits...its not any perfect thing ..see after my TSL hit market moved I misses that trade
2.My ordrers always well before breakout...so nothing wait there if we trade with trend....

 

[VJAY]

 

[VJAY]

Not traded today...EOD markings ...might be my trades

 

[VJAY]

Note of XRAY bro...

“Successful trading is about consistently doing the difficult thing so often that it becomes second nature.” – Richard Weissman

Pulling the trigger on a trade is the easy part…just the tip of the iceberg. Once you are in a trade, you are at the mercy of the market. You gave up control.

But the real key is concentrating on what you can control. Make sure to eliminate areas that can sabotage your success as a trader.

Do everything possible to focus on what you have direct control over. Look at your processes. Setup a trading plan. Backtest. Create a risk management strategy. Make sure your positions are sized correctly. Focus on your mindset.

Like Peter Brandt, accept the fact that you can’t control whether a trade is going to be profitable…but make sure to concentrate on the areas that you can control and then trust that over time, you can come out ahead over the long haul. --by Glenn Drewes.

-Rgds-
XRAY27

 

[ashcom]

The central idea of asking you, is to build the basic blocks, of the strategy, to trade, wisely and rightly, so that fewer mistakes are done. What I am asking you are a bit minute things, which might look, very obvious, from the diagrams, but are differently, used in trading. I have been trading, this strategy for sometime, with wrong ways. I am trying to correct every piece. Till yesterday, I used every small swing as S/R, but corrected it with thread. I had not corrected it unless, you answered, my first chart. Then I again went back to the basics and did the correction.

Now, why asked the questions. 1) As the SL showed by you did not look like, #22 nor #33, so I felt, it is better to take advice, from you about, how the SL, was kept. It is a different thing the SL was hit.

2) The question, which said, was a close require above the BO. Lot of times, the price makes a very big move, on the candle of BO, hence, the chance to participate in the move, is very low. And, if participated, after the close, the move, either completes, there or, gives a lot of pain, before continuing in the same direction. So, to find out what is the right thing, I put in the question. Also, from the charts, in the theory put in by you, there wasn't any explanation, hence, I put in the question.

If you feel appropriate, you can solve the doubts. thnx.

 

[roughim]

Am i doing some mistake in understanding, isnt the marked point a visual pivot?

 

[VJAY]

No trade day

 

[VJAY]

Am i doing some mistake in understanding, isnt the marked point a visual pivot?

I cant read what you written on chart.....its looks like all markes are okey for me....i don't know which scrip it is so unable to compare it with my charts....