Technical trades-Q&A

Saint · #**101** 20th July 2005, 10:51 PM

Hi Sam,
No...I don't mind at all.I haven't forgotten the time I was new to this,and was groping in the dark.As for Bharat Forge it's still in a strong uptrend and the stock split has made it more lucrative....if you are in it already,it's ahold.If you are planning to get in,let it present you with an opportunity to do so first.....

One more thing: Don't predict.Of course one has to see a great pattern,set a target and a stop loss,measure reward:risk,etc........when an ascending triangle breaks to the upside,one sets the stops and trail it upwards.The breakout in price was not predicted,it simply happens as it does most of the time.Can an ascending triangle break downwards.....of course,therefore the necessity in having stops.

When we predict,we live in the future.....it clouds our ability to act now
If you are going about things the technical way,you look for patterns,pivots,etc....mark an entry point,an exit point ....and leave the rest.

Wishing you the very best.
Happy Trading!
Saint

phoenix · #**102** 21st July 2005, 09:56 AM

Quote:

Originally Posted by ravi t

Saint
Ispat crossed closed above 21 today. It is there from last couple of trading sessions. And if it manges to hold its stand there till next week then it might touch 23 soon.
Regarding MAARS and MARSON, both were on freeze today. MAARS freezed at 5.69( from 4.95 to 5.05 last week) and Marson freezed at 4.63. Both were up on large volumes. Earlier you were not in favour of these scrips when I asked your view. Now I request you to please give a look again to these stocks and give your expert views….
Phoenix/AMitbe please add your comments

Regards to all

Hi Ravi,
Am stalking MAARS for an entry......looks delicious!!MARSON looking sweet as well!

Thanx !!

Phoenix

sam · #**103** 21st July 2005, 07:55 PM

Thanks Saint for ur reply!

I am NOT exactly predicting....these are initial days of my trading and unfortunately I had no one to even introduce me to Stock trading!! And finally I got this forum from which I am learning a great deal....

Right now I trade keeping the fundamentals of the company in mind. But that is sometimes misleading though...for instance...when I happened to research "Teledata Informatics"..it was very tempting ...but its NOT doing that well at the moment....dont know the exact reason!!

As for the technicals...have to learn...I am in very initial stages!! I am looking for a good book to learn technical analysis...took note of a few books mentioned in some other forums...will get one and start soon!!

Thanks again Saint.

What is your call on Hotel Leela Venture and NDTV (after NDTV's fall for the past 3 days after their results were announced) ??

-Sam.

Saint · #**104** 21st July 2005, 09:23 PM

Quote:

Originally Posted by sam

Thanks Saint for ur reply!

I am NOT exactly predicting....these are initial days of my trading and unfortunately I had no one to even introduce me to Stock trading!! And finally I got this forum from which I am learning a great deal....

Right now I trade keeping the fundamentals of the company in mind. But that is sometimes misleading though...for instance...when I happened to research "Teledata Informatics"..it was very tempting ...but its NOT doing that well at the moment....dont know the exact reason!!

As for the technicals...have to learn...I am in very initial stages!! I am looking for a good book to learn technical analysis...took note of a few books mentioned in some other forums...will get one and start soon!!

Thanks again Saint.

What is your call on Hotel Leela Venture and NDTV (after NDTV's fall for the past 3 days after their results were announced) ??

-Sam.

Hi Sam,
Your attitude is far better than when I started.......feel you are doing just fine!Education is key.......learn whatever it takes to beat the odds.You may be sitting at home trading,but what you are,in effect ,doing is putting your hands into the pockets of the very best and pulling out money regularly.And with a good strategy and plan,you can do this again and again.
TELEDATA INFO:no idea as to the news/fund.analysis concerned.....no idea why it is in a downtrend,but it is in a downtrend,and has not signalled a change in trend yet.Let's wait n watch!
NDTV:Looks like a break down gap that usually starts off a change in trend,in this case downwards.....I would stay away till something changes!
HOTEL LEELA:Still looks good....if you were in this all the while and you play the long term charts,then you could raise the SL to 172 and ride the trend.

Wishing you the very best in your road to Trading Mastery!
Happy Trading!
Saint

phoenix · #**105** 21st July 2005, 10:27 PM

All 3 still looking good.......Saint,I took profits in Petr LNG today.Multiple days up and then this topping tail on the daily.....it's correction time.I am going to re- add at some lower price!The other 2 so far so good!

Phoenix

avinash · #**106** 21st July 2005, 10:45 PM

Hi Saint,
Holding the Amtek and Indraprasthaa Gas....but I let the LNG go at 55.I was thrilled with the gains nearly 20%.But looking at Phoenix's post,now I am not so sure whether I did the right thing......I am still new at this.Please help,I want to learn....Thanks Sir for your recommendations!You are doing great service helping us newbies!

Avinash

sam · #**107** 22nd July 2005, 09:39 AM

Hi Saint,

Thanks for ur concerned replies and encouragement!

One quick question -- What is ur call on Tata Teleservices at this level (31.15) - is it worth entering at this level ??

-Sam.

Saint · #**108** 22nd July 2005, 09:41 AM

Quote:

Originally Posted by avinash

Hi Saint,
Holding the Amtek and Indraprasthaa Gas....but I let the LNG go at 55.I was thrilled with the gains nearly 20%.But looking at Phoenix's post,now I am not so sure whether I did the right thing......I am still new at this.Please help,I want to learn....Thanks Sir for your recommendations!You are doing great service helping us newbies!

Avinash

Hi Avinash,
Always a good feeling to take the money and run,my friend........but not always wise.I hope you don't mind me saying a few things.....it's only for your benefit in the future.
We tend to say"I am not greedy,man,I took my Rs9 in LNG.....you all are so greedy that you want such big targets."My friend,when one takes the money and runs,it is a sign of Fear ---Fear of losing whatever you had gained and paradoxically it is a sign of Greed......as a certain percentage is attained,you convert that into money in your head,and you are thrilled.Greed sets in and the mind says to take it off the table before the market takes it away.
First you set a stop loss,and the stock takes off......the best part is always the correction,coz that's the place if it pivots higher where you now raise your stop loss at the new pivot.....this process goes on till you are stopped out.Profits are not only bigger but the mind is kept out of things.The bad thing about taking LNG at 55 is it may correct to let's say 48,and then it shoots past 60......61....62,and your mind will trigger off regret,another terrible emotion.You'll then buy at 63,the stock will correct to56,and you'll be thrown out.....and given up the initial gains!!
If you think it has run up quite a bit,take some profits.....possibly re-add later.

All the best!
Happy Trading!
Saint

Saint · #**109** 22nd July 2005, 10:08 AM

Quote:

Originally Posted by sam

Hi Saint,

Thanks for ur concerned replies and encouragement!

One quick question -- What is ur call on Tata Teleservices at this level (31.15) - is it worth entering at this level ??

-Sam.

Hi Sam,let's wait for some reversal signal first.......still looks good,but fine tune the entry point first!

Saint

avinash · #**110** 22nd July 2005, 12:50 PM

Quote:

Originally Posted by saint

Hi Avinash,
Always a good feeling to take the money and run,my friend........but not always wise.I hope you don't mind me saying a few things.....it's only for your benefit in the future.
We tend to say"I am not greedy,man,I took my Rs9 in LNG.....you all are so greedy that you want such big targets."My friend,when one takes the money and runs,it is a sign of Fear ---Fear of losing whatever you had gained and paradoxically it is a sign of Greed......as a certain percentage is attained,you convert that into money in your head,and you are thrilled.Greed sets in and the mind says to take it off the table before the market takes it away.
First you set a stop loss,and the stock takes off......the best part is always the correction,coz that's the place if it pivots higher where you now raise your stop loss at the new pivot.....this process goes on till you are stopped out.Profits are not only bigger but the mind is kept out of things.The bad thing about taking LNG at 55 is it may correct to let's say 48,and then it shoots past 60......61....62,and your mind will trigger off regret,another terrible emotion.You'll then buy at 63,the stock will correct to56,and you'll be thrown out.....and given up the initial gains!!
If you think it has run up quite a bit,take some profits.....possibly re-add later.

All the best!
Happy Trading!
Saint

Hi Saint,
Thx for all your advice....big help into knowing how you think!

Avinash

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