Was the CRASH EXPECTED == YES IT WAS

saji oommen · #51 21st October 2007, 10:09 AM

Hello Jungle Lion,

You need not get upset over the remarks posted earlier. In a forum members often write different views. It takes time for your views to be generally accepted and found useful. And always you must expect some bashing or negative views.

One look at the MT4 chart attached by you containing sensex and NSE scrips data with MM indicator convinced me you knew what you were talking about. Like you posted to my query how you managed to get NSE and Sensex data into MT4 where in you had mentioned the use of MT4 DataServer which is a very very expensive (MT4 DataServer is a $100,000 software package in complete, you can update the stock quotes with direct live feeds from reuters for $2500 a month).Such set up is possible only with persons who are making lot of money or has access to such platforms and data feeds for a fee . Obviously you may be having such a setup of your own or has access to it.

Not many charting softwares come no where near metatrader for ease of use and functionality.It is the most widely used charting software for forex. And to top it all the fact that stock market transactions world wide are miniscule compared to daily forex transactions.

regards

Saji

rkkarnani · #52 21st October 2007, 11:13 AM

Quote:

Originally Posted by saji oommen

Hello Rk

Yes you are correct. I was more interested in how he got NSE data into MT4. Some additional information if you would like

Regarding MM levels interpretation is as follows

8/8 th's and 0/8 th's Lines (Ultimate Resistance)
These lines are the hardest to penetrate on the way up, and give the greatest support on the way down.
(Prices may never make it thru these lines).

7/8 th's Line (Weak, Stall and Reverse)
This line is weak. If prices run up too far too fast, and if they stall at this line they will reverse down fast.
If prices do not stall at this line they will move up to the 8/8 th's line.

6/8 th's and 2/8 th's Lines (Pivot, Reverse)
These two lines are second only to the 4/8 th's line in their ability to force prices to reverse.
This is true whether prices are moving up or down.

5/8 th's Line (Top of Trading Range)
The prices of all entities will spend 40% of the time moving between the 5/8 th's and 3/8 th's lines.
If prices move above the 5/8 th's line and stay above it for 10 to 12 days, the entity is said to be selling at a premium to what one wants to pay for it and prices will tend to stay above this line in the "premium area".
If, however, prices fall below the 5/8 th's line then they will tend to fall further looking for support at a lower level.

4/8 th's Line (Major Support/Resistance)
This line provides the greatest amount of support and resistance. This line has the greatest support when prices are above it and the greatest resistance when prices are below it. This price level is the best level to sell and buy against.

3/8 th's Line (Bottom of Trading Range)
If prices are below this line and moving upwards, this line is difficult to penetrate.
If prices penetrate above this line and stay above this line for 10 to 12 days then prices will stay above this line and spend 40% of the time moving between this line and the 5/8 th's line.

So sensex has closed above 4/8th line and if it holds good.

Regards

Saji

Saji Sir, Very frankly, I did not gather anything from your post, as I am not aware about Murray Maths...will down load the word file you have posted in your later Post and maybe get some basics clear abt this MM.
Thanks and regards.
-R K Karnani

saji oommen · #53 21st October 2007, 11:24 AM

Hello RK

You were absolutely right in your view that not much could be understood about MM from my earlier post. It was just a pointer to the MM system or method since jungle lions chart showed it. The original MM as taught by murrey is too complex and too much mathematics. The simple method mentioned in word doc is more easy .

I just posted it for any one looking for additional confirmational methods for trading or for enhancing knowledge.

Regards

Saji

hari09omkar · #54 21st October 2007, 12:28 PM

Quote:

Originally Posted by saji oommen

Hello RK

You were absolutely right in your view that not much could be understood about MM from my earlier post.

Without knowing fractals,no one can understand Murrey Math.May help the interested ones:http://www.foretrade.com/MM_description.htm

Quote:

Originally Posted by saji oommen

I just posted it for any one looking for additional confirmational methods for trading or for enhancing knowledge.

Some excerpts from the word document which u thought would be enhancing our knowledge:

Quote:

1.I trade a live account and NEVER close a loosing position.
2.I never use a stop, don't need to.
Have stopped the death by stop trading method that hast cost me a lot of money over the 2 years .
3. I've not had a loosing trade since Oct 1st, I'm up 400 pips in real money, no trading stress,
no signals, no alerts, can switchvar my computer off and return to the market at my leisure.
4.the MM extremes, I've been caught going short (for example) on a 1/8 set my 100 pip profit target and walked away,
when I restart my computer to collect my profit, I see the lines have recalculated themselves and I'm down 200 pips,
do I panic and close my position, no way, I look for another trade and leave the loosing one alone, it will always return. Why? because the market is already at an extreme, it doesn't just keep on going and going,

Thanks for the 'knowledge enhancer'.

saji oommen · #55 21st October 2007, 01:14 PM

Hello hari09omkar,

You seems to be highlighting only negative side (if any)of the doc i attached. Does it not contain other useful material too, probably not worth highligting since it can generate some profitable trades for some one using those simple methods.

I could have easily removed those parts you highlighted before uploading. Those are real experiences of various traders taken from other forums. Some one asked for more information and i immediately posted a reply . Those experiences got mixed with the interpretation of various MM levels(Cut and paste).Those are not my teachings or methods. .Kindly note it was not meant to be a knowledge enhancer but rather a refernce material.

Then you also may be aware of the fact trading in forex is a completely different game than trading in stocks. It is a 24 hr business which requires slightly different skills.

Since you have very good knowledge of TA and Markets as seen in other threads posted why dont you share with us a few methods or strategies that can help poor mortals like me or new comers to trade better.Wont that be a better alternative than all the crappy knowledge enhancers being posted by persons like me.

Probably a bit of philosophy and maths will also spice up the lessons.(http://www.traderji.com/fundamental-...tml#post122795)

Regards

Saji

hari09omkar · #56 21st October 2007, 01:52 PM

Quote:

Originally Posted by saji oommen

Hello hari09omkar,

You seems to be highlighting only negative side (if any)of the doc i attached. Does it not contain other useful material too, probably not worth highligting since it can generate some profitable trades for some one using those simple methods.

I could have easily removed those parts you highlighted before uploading. Those are real experiences of various traders taken from other forums. Some one asked for more information and i immediately posted a reply . Those experiences got mixed with the interpretation of various MM levels(Cut and paste).Those are not my teachings or methods. .Kindly note it was not meant to be a knowledge enhancer but rather a refernce material.

Then you also may be aware of the fact trading in forex is a completely different game than trading in stocks. It is a 24 hr business which requires slightly different skills.

Since you have very good knowledge of TA and Markets as seen in other threads posted why dont you share with us a few methods or strategies that can help poor mortals like me or new comers to trade better.Wont that be a better alternative than all the crappy knowledge enhancers being posted by persons like me.

Probably a bit of philosophy and maths will also spice up the lessons.(http://www.traderji.com/fundamental-...tml#post122795)

Regards

Saji

Dear Saji
I am seeing that you have a very good attitude towards other members while talking or interacting.And I can't talk harshly with such persons,who is polite like u

.I have highlighted the areas which is suicidal to traders,no matter who wrote it.So posted it.I am apologetic if my writing has hurt u.
But still I beg to differ with the points there.
About sharing methods of trading - I can tell u this forum is a collection of great wisdom itself.Just one needs is searching for the right member's posts,like Saint,CreditViolet,instead of mine.
One question I ask u,why did u write:

Quote:

.... trading in forex is a completely different game than trading in stocks. It is a 24 hr business which requires slightly different skills

Please explain.

saji oommen · #57 21st October 2007, 02:15 PM

Hello hari09omkar,

I sincerely apologize if my reply has upset you. Frankly i was not upset by your reply neither did i think your reply was not useful. Infact i had failed to thank you for providing the link on MM.

My point was whether you could share some methods or strategies which could be useful for all of us. I always hunt around for new methods or strategies just to see if i can improve on a good system i have to trade in NSE.With all respects i would like to state that i have found your postings in other threads quite knowledgable and interesting.

Regarding forex i have only limited experience compared to NSE. I find forex more stable to operate . It has somewhat smoother and predictable movements. I cannot fathom how much manupulation is there as compared to stock markets. Longer time frames above 30 Minutes seems to do better.

Regards

Saji

hari09omkar · #58 21st October 2007, 03:01 PM

Are yaar.....why don't u start with this thread,actually mother of all threads:
http://www.traderji.com/trading-tech...-man-fish.html

And see the difference.Then u will not be running after any 1million $ software package.

JungleLion · #59 21st October 2007, 03:08 PM

Forex markets operate 24 hours a day, 5 days a week
Forex markets are very volatile and hence require high precision in trading
Forex leverages are from 1:1 to 1:500 unlike stock markets
Anyone trained in forex will always succeed in stock markets, but a stock market trader will blow his account in forex.
95% people blow their accounts in forex within the first 24 hours

and the list goes on .....

Murray Math is essentially designed to work in forex markets and cannot ne used in stock markets unless a person is expert in forex and fully understands how to use it.

just knowing the levels does not help.

saji oommen · #60 21st October 2007, 03:29 PM

Quote:

Originally Posted by JungleLion

Forex markets operate 24 hours a day, 5 days a week
Forex markets are very volatile and hence require high precision in trading
Forex leverages are from 1:1 to 1:500 unlike stock markets
Anyone trained in forex will always succeed in stock markets, but a stock market trader will blow his account in forex.
95% people blow their accounts in forex within the first 24 hours

and the list goes on .....

Murray Math is essentially designed to work in forex markets and cannot ne used in stock markets unless a person is expert in forex and fully understands how to use it.

just knowing the levels does not help.

Yes Jungle Lion, very difficult to convince a person in words the difference in trading forex and stocks. You got to really trade forex or gold to feel and understand it. High precision in entry and exits is required .And like you said list goes on-----

MM is useful in stock market especially futures or commodities at the levels 0/8 , 1/8,-1/8 for buys and for shorts at 7/8, 8/8 the other extreme levels. At these levels it can get you in very early position provided you also have other methods of confirming the buy or short signals.

Regards

Saji