Nifty Futures Trading

Saint · #**7421** 4th July 2008, 02:46 PM

Quote:

Originally Posted by uasish

tinchu76,

Plz go thru Saint's Thread 1st,assimilation & digestion of that is 1st & foremost,this is my suggestion to a younger brother (there are very few members above my age in this forum.

).

All those Waves are in part 3 not before that.

Asish

Asish,chronological age is nothing in trading.........your mental age is still a very young,dynamic 35 ,my friend.Not talking abt your wisdom levels though.......In that,you are far older and wiser than your chronological age.

Saint

pakatil · #**7422** 4th July 2008, 02:55 PM

Quote:

Originally Posted by uasish

(there are very few members above my age in this forum.

).
Asish

I am there Asishda. If not above, atleast around your age.

PAKatil

milind · #**7423** 4th July 2008, 03:07 PM

Quote:

Originally Posted by tinchu76

Pls explain a bit about "bearish wolfe" (later)

I realized that it wasn't a valid wolfe wave. It was on NF 15m chart. Although it almost met the measurements, it didn't form high enough from base of a rally to be a valid one. In general, whenever pivot high and lows start getting mixed up, I check if it could be a wolfe-wave candidate.

Points: 3936 3858 3972 3885 3984

AB = 78
BC = 114 - okay (betwen 1.2-1.67 of AB)
CD = 87 - okay (betwenn 0.67-0.85 of BC)
DE = 99 - less (between 1.2-1.81 of CD)

My prediction of fall however did pan out eventually, going down to 3922, but it was based more on TBQ/TSQ trends.

BTW, with late action, I see that the downward trendline on NF 15m is breached.

-- Milind

uasish · #**7424** 4th July 2008, 03:18 PM

The Closing is Imp. as today being Friday & moreover in EoD on July'08 1st / 2nd / 3rd & Today the Low never breached 3810.00 in Nifty Fut.
Last 2 days above avg. Volume.
The 4 Bars are some what vice like grip ,cant go above 4079.00 & below 3810.00.

uasish · #**7425** 4th July 2008, 03:20 PM

Quote:

Originally Posted by pakatil

I am there Asishda. If not above, atleast around your age.

PAKatil

Comforting to know that .

uasish · #**7426** 4th July 2008, 03:20 PM

Quote:

Originally Posted by Saint

Asish,chronological age is nothing in trading.........your mental age is still a very young,dynamic 35 ,my friend.Not talking abt your wisdom levels though.......In that,you are far older and wiser than your chronological age.

Saint

You are always generous to this Student of Your's.

uasish · #**7427** 4th July 2008, 03:32 PM

Not much to write Home about the Closing @ 3967.95 ( before adjustments)

tinchu76 · #**7428** 4th July 2008, 04:55 PM

Quote:

Originally Posted by uasish

tinchu76,

Plz go thru Saint's Thread 1st,assimilation & digestion of that is 1st & foremost,this is my suggestion to a younger brother (there are very few members above my age in this forum.

).

All those Waves are in part 3 not before that.

Asish

Sir, Many thanks for your advice Initially too u had guided vide ur post 7,191 ("Teach a man to fish"). I am on to that further to ur advice I had Downloaded the Kolkat meet video. Shall study this week end. Is this what you r refereing to in this post?

Thanks n Regds

uasish · #**7429** 5th July 2008, 09:16 AM

Mkt always moves in Wave form.We dont try to outguess it but follow it.There are generally 3 phase,Up Down & sideways.We have to identify the general phase of the Mkt.
In a Downtrend there can be few Rallies,those are to be Sold in Rise,vice versa for Uptrend to be Bought in dips.
A Long Bull phase has ingrained in our mind that always buy in dips,no sir only when an uptrend is identified & there is a down swing Rally we only Buy those down Rally's in dips.
Hence a General View is to be made 1st,then trade the current on going Waves towards the General trend.
This identification of Waves & it's Trend,Saint's thread is more than enough than any 50 books.

uasish · #**7430** 5th July 2008, 09:28 AM

When do we do not follow Trend.
.................................................. ....

In any strong Trend the culmination phase is 'irrational phase' or 'Excess phase' or 'Exuberence phase' or 'Capitulation phase';whatever terminology we use,all of us can understand the meaning.Plz remember this Excess/irrational phase can continue for excess/irrational TIME.
Whenever we are in that phase we must be cautious (though i am greedy & most of the time caught in wrong foot) & take an opposite action than the General or Current Trend.Some say Contrarion approach.But that approach benefits ONLY in Excess/Irrational phase,hence plz let us understand the bookish knowledge in right CONTEXT,right Perspective.
Presently we are in that phase.