Teach A Man To Fish And.........

anoopkumar · #**1051** 12th December 2007, 10:26 PM

Dear Saint,

It does clear few things and alot more. My heartful thanx.
As far as addressing you as sir is concerned, I ,like many other members here, prefer to prefix or suffix some respect indicating words with your nick. This is to give respect to your knowledge and appreciate your contribution in learning the intricacies of the stock market, which is quite unparllel. Mere addressing you as Saint gives rather uneasy feeling. I hope you would not mind calling you as "Dear Saint" although a Saint is more respectable than Dear.
Regards!

- Anoop Kumar

nick721156 · #**1052** 16th December 2007, 10:30 AM

Quote:

Originally Posted by gobatman2001

The link is : http://www.mediamax.com/gobatman/Hosted/Saint.zip
The password is to access the file is : amit2006

Regards,
Amit

dear amit,
may be the link is no more available because it gives only an error message. would you pleas help me in dowloading the compilation.

regards,

raju

gobatman2001 · #**1053** 17th December 2007, 06:07 PM

Hi! Raju,

Have uploaded the file again. Here is the link ...

http://www.************/file/32274581...686/Saint.html

Cheers ...

Quote:

Originally Posted by nick721156

dear amit,
may be the link is no more available because it gives only an error message. would you pleas help me in dowloading the compilation.

regards,

raju

nick721156 · #**1054** 21st December 2007, 09:36 AM

Quote:

Originally Posted by gobatman2001

Hi! Raju,

Have uploaded the file again. Here is the link ...

http://www.************/file/32274581...686/Saint.html

Cheers ...

Thanks amit. I could download the file. Will be in touch.

Regards,

Raju

percy3687 · #**1055** 21st December 2007, 07:49 PM

This is a real good learning session to trade in a discipline manner. Thanks a lot for this.

ganeshhity · #**1056** 22nd December 2007, 10:16 AM

Dear Saint....
Though I was also out for quite sometime now, any idea of amitbe??

ganeshhity

nick721156 · #**1057** 22nd December 2007, 12:05 PM

Quote:

Originally Posted by Saint

Hi SKG,

Option 3: Definite no........Your ongoing trade just confirmed that you were right.Probably could add,depending on how charts shape up at that time.But no way are we going to wait till then to put in that initial buy.

Option 2:Looks like a short below this area where you marked.........yes,so long as the particular stock stays above this point,we are in sideways mode.Staying above this point,but below the arrow mentioned as Option 1 means we do not put in a trade.We wait and watch.

Option 1:This is where I would look to reenter long provide it can take out that previous pivot high as mentioned in the chart.We got our low(where the Option 2 arrow is pointing),we now have a higher pivot low.But we don't know we have one till the stock/index goes above that previous pivot high as pointed by the Option 1 arrow.

So where we stand as per the chart attached by yourself is:If the index/stock dumps to below the Option 2 arrow,short with your stop loss at the pivot pointed by the Option 1 arrow.

If the index/stk goes above the pivot marked as Option 1,Buy with your stop at recent pivot lows.

If the index/stk does neither,sit on hands time.Sidelines.Wait and Watch.Entry only once the direction of the flow is clear cut...Our job is to assess the direction of the flow,and then to Go with the Flow.

All the best!
Saint

Dear Saint,

This is my first letter to you. I must thank you for helping people like us. Great job done.
For last one week I have been reading and trying to understand your "teachings" about fishing a fish and happy that I have learnt a lot though many things are to be cleared as yet. Because of my location, job nature and knowledge in share trading, i don't go for daytrading or swingtrading but in position trading only. Normally I use "limit" option facility of ICICIDIRECT.com wherein I can put my BUY/SELL signal the previous night.

In the present chart, I would request you to clarify some points. When you say, " If the index/stk goes above the pivot marked as Option 1,Buy with your stop at recent pivot lows".

My queries are,

1) When you say index goes above the pivot, is it the intra day movement above the pivot (i.e.shadow ) at which we have to buy the stock or closing high (i.e. bar) above the pivot? Because the stock may go above the previous pivot high (marked by pink arrow) momentarily during the day and settle lower (Closing) than that.

2) Shall we consider pivots or highs/lows for drawing trendlines?

3) I have observed that whenever we consider longer time frame (say 2 yrs) on a weekly or daily chart, the trendlines appear to be steeper (on the screen) than that with shorter time frame , say 6 months or 3 months, for same pivot highs or lows. Would you please tell me which time frame is the best for weekly and daily charts to draw trendlines?

I shall be glad if you clarify these doubts.

Thanks in advance.

Regards,

Raju

kattuthee · #**1058** 22nd December 2007, 02:58 PM

Thank you Mr.Saint,
This is a wonderful thread ,Now I should train my eyes.
Thanks again

Wildfire

nick721156 · #**1059** 29th December 2007, 07:06 PM

can anyone tell me how to post images alongwith posts?

regards,

raju

djsinha · #**1060** 30th December 2007, 02:01 AM

Quote:

Originally Posted by nick721156

Dear Saint,

This is my first letter to you. I must thank you for helping people like us. Great job done.
For last one week I have been reading and trying to understand your "teachings" about fishing a fish and happy that I have learnt a lot though many things are to be cleared as yet. Because of my location, job nature and knowledge in share trading, i don't go for daytrading or swingtrading but in position trading only. Normally I use "limit" option facility of ICICIDIRECT.com wherein I can put my BUY/SELL signal the previous night.

In the present chart, I would request you to clarify some points. When you say, " If the index/stk goes above the pivot marked as Option 1,Buy with your stop at recent pivot lows".

My queries are,

1) When you say index goes above the pivot, is it the intra day movement above the pivot (i.e.shadow ) at which we have to buy the stock or closing high (i.e. bar) above the pivot? Because the stock may go above the previous pivot high (marked by pink arrow) momentarily during the day and settle lower (Closing) than that.

2) Shall we consider pivots or highs/lows for drawing trendlines?

3) I have observed that whenever we consider longer time frame (say 2 yrs) on a weekly or daily chart, the trendlines appear to be steeper (on the screen) than that with shorter time frame , say 6 months or 3 months, for same pivot highs or lows. Would you please tell me which time frame is the best for weekly and daily charts to draw trendlines?

I shall be glad if you clarify these doubts.

Thanks in advance.

Regards,

Raju

If I try to give answers to questions posed towards Saint, I hope Saint wouldn't mind provided that I have become so nice a fan of his after reading his post "Teach a man to...".

Guys, I must admit that it's a piece of jewell that Mr Saint has created. I've read it some 5-6 times from first to last till now and believe me every time I read it afresh, I discover some 2-3 vital points that I left out in the previous reading.

Ans to Q 1) Since u don't do intraday trading, by principle, u shudn't make trades based on 2 mins or 5 mins or 15 mins data. Never ever mix two timeframes. Whatever decision u have to take, say buy/sell (because of pivot crack on the upside/downside) take it based on EOD charts and not on intraday movements.
But once u r into trade, put ur stoploss daily using the "limit option" as u mentioned and that will be based on ur previous to previous bar's low. That means, if your previous 2 bar's low is cracked on the downside even on intraday movement and even if momentarily, never hold on to that trade. Immediately get out.

Ans to Q2)U shud draw trandlines connecting pivots only.

Ans to Q3)That's obvious, because, over the long term any share price always trends up. Which timeframe u will use for drawing trendlines will depend on what is the timespan for ur trading. If u r planning to maintain ur holdings for 6-12 months, u shud draw trandlines on 2-3 yrs chart and if u r planning to trade for 1-2 week u shud draw trandlines on 1-2 months data.

Saint, pls point out if I've committed any error in answering the qs. Ur valuable addition to these will definitely add to our knowledge base.

Cheers
d j sinha