Today's Buy Levels

uasish · #**1601** 17th January 2008, 04:44 PM

Now after a shake out our Happy Happy state mind is little bit serious.In last few occassion of down fall , people use to go & buy & by doing so all of us earned money.
Few of my neighbour's even discuss (obviously behind my back that why i am with the computers to find a Buy/Sell when the simple dictum is in any massive fall just BUY).

Plz beware this strategy may not be effective always.It is better to find nifty/future stocks where the down side is now limited,stocks like say Infosys.

The elusive 5th Wave Top if happened then more downside left.(Will have to study EoD)

rajaram.dilipkumar · #**1602** 17th January 2008, 05:52 PM

Quote:

Originally Posted by uasish

faltub,

In my illness i was sure that this thread will continue by the contrbutions of you & rajaram,but alas it did not happened like that.

Asish

i was out on vacation to kodaikannal after closing positions last thursday. Just came back and went long in maruthi..

rajaram.dilipkumar · #**1603** 17th January 2008, 05:56 PM

Quote:

Originally Posted by uasish

Now after a shake out our Happy Happy state mind is little bit serious.In last few occassion of down fall , people use to go & buy & by doing so all of us earned money.
Few of my neighbour's even discuss (obviously behind my back that why i am with the computers to find a Buy/Sell when the simple dictum is in any massive fall just BUY).

Plz beware this strategy may not be effective always.It is better to find nifty/future stocks where the down side is now limited,stocks like say Infosys.

The elusive 5th Wave Top if happened then more downside left.(Will have to study EoD)

yes not every fall is a buying opportunity till charts confirm a turnaround..also good to hear that you have recovered. Didnt see infosys charts but had a look at TCS looks like it has taken support and i may go long.

uasish · #**1604** 18th January 2008, 04:03 PM

Today after 1.45 pm it was just a one way street ,daytraders earned in Short side,Infosys Fut almost touched 1450,being Friday the weekly closing is disfavourable.

anjubhatia · #**1605** 18th January 2008, 07:59 PM

Dear sir,
As u r one of very senior & humble senior in this forum, so i request to guide members of this forum by u, rajaram,ajax,amit,saint.........
via a special thread to give all of ur special comments on todays trading & ur vies fr coming weeks.
Hope all of you will consider our requests.....

uasish · #**1606** 18th January 2008, 08:09 PM

anujbhatia,

Flattered by the compliment given by you,we all are taught by the Mkt everyday.It is undesirable to 'Predict'.Will try to post Nifty Fut's chart before Mon morn.

Asish

uasish · #**1607** 18th January 2008, 08:32 PM

There is an inherent tendency by traders to Catch at Low.How do i know this is the Lowest point & it will not go further down.Never try to catch a falling knife,it is not prudent.Let the price traverse its immediate earlier Pivot from below,then atleast the Stop is Visible.
Buy in Dips strategy is employed when the overall Trend is 100 % Intact .Are we sure that the Trend is intact ,if not then there will be lots of occassion in future when this Price will come again no need to jump now.
Preservation in rough times is utmost priority than being a Maverick & get slaughtered.
We are never a pessimist but oppurtunist to jump our guns when the powder is dry but positioned in a slight favourable situation for the kill,never in uncalculated Risk but always with a calculated risk.

anjubhatia · #**1608** 18th January 2008, 08:58 PM

Quote:

Originally Posted by uasish

anujbhatia,

Flattered by the compliment given by you,we all are taught by the Mkt everyday.It is undesirable to 'Predict'.Will try to post Nifty Fut's chart before Mon morn.

Asish

Thanks fr ur guidance

uasish · #**1609** 18th January 2008, 11:29 PM

faltub,

The main Challenge in formulating a Set-Up for Trading is that almost every thing works some time or other.Wolfe Wave / Elliot Wave / RSI / MACD / RSC / Cycle / Etc etc.On past Data it is found that many a time every thing works ,even in different lenght of time the performances of the same vary.(A statistical performance report of 'Patterns' or any other method will vary.)
Hence it is very difficult to comment whether this works or that works.Nothing under this Sun works with 100% accuracy for a prolonged time lenght.Here steps in Risk Mgmt / Money Mgmt. Choice of time frame ( mostly for plausable defined Risk Horizon),Sticking to winners & throwing away the loosers with aggresive vigilance etc etc.
Until a Risk is visible ,jumping with Hunch is Suicidal for our financial health.

Asish

aknigin · #**1610** 19th January 2008, 09:13 AM

Quote:

Originally Posted by uasish

There is an inherent tendency by traders to Catch at Low.How do i know this is the Lowest point & it will not go further down.Never try to catch a falling knife,it is not prudent.Let the price traverse its immediate earlier Pivot from below,then atleast the Stop is Visible.
Buy in Dips strategy is employed when the overall Trend is 100 % Intact .Are we sure that the Trend is intact ,if not then there will be lots of occassion in future when this Price will come again no need to jump now.
Preservation in rough times is utmost priority than being a Maverick & get slaughtered.
We are never a pessimist but oppurtunist to jump our guns when the powder is dry but positioned in a slight favourable situation for the kill,never in uncalculated Risk but always with a calculated risk.

Dear sir

It is a great piece of advise. Most of us do that mistake. Could you please explain by way of some example what you mean by " Let the price traverse its immediate earlier Pivot from below,then atleast the Stop is Visible."

Please keep us advised by your golden words, what should we do in this situation and which stocks we can safely buy without worrying about their further erosion of value.

Thanks

aknigin

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