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

Saint · #**1191** 13th February 2008, 02:59 PM

Quote:

Originally Posted by rajaram.dilipkumar

i got a complete view of the global markets in 15 min else i would have wasted days..... saint thanks a ton .I have taken a print of all the charts and this belongs to my TA book shelf.

Most welcome,my friend.

Saint

Saint · #**1192** 13th February 2008, 03:13 PM

Quote:

Originally Posted by citrus

Respected Saint,
I am very new to trading, though I have been investor from last 10 years. Now I would like to know from your wast experience the following few questions:
1. How many stocks should I regularly mointor as a EOD trader?
2. Should I base my trading decisions on stocks short listed by computer in exploration, or should I visually scan all the charts before taking decision.
With Regards.
Citrus

Ah,Citrus,..........no absolutely right answer to that one.

I am an "eyeball" sort of person,meaning I gotta visually scan before taking a decision........I basically go through the whole lot in the weekends,from where I choose the juicy ones for the week.And those,I visually scan everyday and get the entry points,exit points,stops,position size,etc.......then I am ready for battle for the next day.Ready to use my eyes and shut my thinking....

How many stocks?As much or as little as you can.....basically your call.

You really ought to ask this question to our wizards in this forum.....they would give you a high tech answer,they'd probably simplify your life a great deal......but this is how I go about.A bit too stuck in my ways,I guess!!

All the best!
Saint

Saint · #**1193** 14th February 2008, 03:20 AM

Quote:

Originally Posted by rangarajan

So, Saint, what is yr recomm for investors,whether to remain intact till Pivot high is formed & pivot low is taken out?The problem is that by the time both the above are confirmed,there would be a lot of erosion of money.Is there any other better strategy?

The very aim of a longer term trader is that he/she wishes to catch a primary trend in motion...........meaning he leaves a lot on the table and is proven right as new highs are made.It was all worth the pain.And this happens again and again,until that absolute top is finally made.This time,no new highs are made.........he loses what is left on the table.

Part of systematic trading.....one stays in,till confirmation happens that it's time to be out.And yes,a lot is left behind on the table.....

Not many have the stomach for it though,therefore the existence of traders in multiple time frames.......that which suits you best is what you employ.

And of course,there are a truckload of strategies out there......whatever you do,do it in systematic fashion.A set modus operandi,a definite method to the madness.

Saint

rangarajan · #**1194** 14th February 2008, 07:18 AM

Quote:

Originally Posted by Saint

The very aim of a longer term trader is that he/she wishes to catch a primary trend in motion...........meaning he leaves a lot on the table and is proven right as new highs are made.It was all worth the pain.And this happens again and again,until that absolute top is finally made.This time,no new highs are made.........he loses what is left on the table.

Part of systematic trading.....one stays in,till confirmation happens that it's time to be out.And yes,a lot is left behind on the table.....

Not many have the stomach for it though,therefore the existence of traders in multiple time frames.......that which suits you best is what you employ.

And of course,there are a truckload of strategies out there......whatever you do,do it in systematic fashion.A set modus operandi,a definite method to the madness.

Saint

T/U Saint,U have thrown the ball back in our court.I was waiting for an answer with chart explanation which u had mentioned for future guidence.
When u find time ,pl explain when to EXIT from a trade & the correct Stop loss.Yr previous articles explain well the Entry strategies.

Saint · #**1195** 14th February 2008, 10:13 AM

Quote:

Originally Posted by rangarajan

T/U Saint,U have thrown the ball back in our court.I was waiting for an answer with chart explanation which u had mentioned for future guidence.
When u find time ,pl explain when to EXIT from a trade & the correct Stop loss.Yr previous articles explain well the Entry strategies.

Had given a chart on SAIL and where the entry and exit ought to have been........similar here.But shall post the chart nevertheless.

The strategy for Entry is verily the same as the strategy to Exit.......have been saying it all these last many months.

Probably,time for some revision ...... for those who are interested!

Saint

trader31339 · #**1196** 14th February 2008, 12:59 PM

Dear Saint,
1)Is there any way we can find out that this pullback is not a pullback but start of a reversal and the pullback must not be used to enter longs. In my trading career , there had been many occasions when I entered long due to pullback but was out with a move on other side. For ex : 05/03/2007, 01/14/2008....etc

re:14/01/2008.....
Was there any trick by which we could have come to know that this is not a pullback but start of reversal.

05/03/2007 , that day also I was confused , long signal due to pullback but the market moved other day

(

2)While trading daily charts , we check trend of weekly charts. Break of trend line on daily charts , or break of pivot low on daily charts is a signal to exit longs.The trend line drawn from the low of 12/19/2007 to 12/28/2007 breaks on 01/01/2008-01/02/2008 , so exit longs ?right or wrong ? If we exit longs here we miss a good amount of rally , atleast 100 points from here. In case if we exit here what is the signal to go long again ?

3) saint, how do you deal with such conditions,
freak high-low on daily charts , many occasions the low or high is at extreme , freak high /low.
How do you scan stocks for our trading based on your method, up-trend stocks with higher pivots and down trend stocks with lower pivots.
There are occasions when our stop loss is triggered but we are unable to get out of position, like days when the index hits lower circuit or due to some news/ incident market tank down. For example: 04/19/2007 ,10/17/2007 etc.....
On certain days we want to go long , but the market just opens up and is up 100 points ..so how do u deal with such situations, how do u enter longs....02/04/2008...if I am not wrong the NS opned and was above 100 points and never came down .....
Thank you for reading me and replying me,

Saint · #**1197** 14th February 2008, 01:31 PM

Quote:

Originally Posted by trader31339

Dear Saint,
1)Is there any way we can find out that this pullback is not a pullback but start of a reversal and the pullback must not be used to enter longs. In my trading career , there had been many occasions when I entered long due to pullback but was out with a move on other side. For ex : 05/03/2007, 01/14/2008....etc

re:14/01/2008.....
Was there any trick by which we could have come to know that this is not a pullback but start of reversal.

05/03/2007 , that day also I was confused , long signal due to pullback but the market moved other day

(

2)While trading daily charts , we check trend of weekly charts. Break of trend line on daily charts , or break of pivot low on daily charts is a signal to exit longs.The trend line drawn from the low of 12/19/2007 to 12/28/2007 breaks on 01/01/2008-01/02/2008 , so exit longs ?right or wrong ? If we exit longs here we miss a good amount of rally , atleast 100 points from here. In case if we exit here what is the signal to go long again ?

3) saint, how do you deal with such conditions,
freak high-low on daily charts , many occasions the low or high is at extreme , freak high /low.
How do you scan stocks for our trading based on your method, up-trend stocks with higher pivots and down trend stocks with lower pivots.
There are occasions when our stop loss is triggered but we are unable to get out of position, like days when the index hits lower circuit or due to some news/ incident market tank down. For example: 04/19/2007 ,10/17/2007 etc.....
On certain days we want to go long , but the market just opens up and is up 100 points ..so how do u deal with such situations, how do u enter longs....02/04/2008...if I am not wrong the NS opned and was above 100 points and never came down .....
Thank you for reading me and replying me,

Good Question,Trader.....shall answer post market.

Saint

nick721156 · #**1198** 14th February 2008, 09:50 PM

dear saint,

i am very thankful to you for your reply to my earlier queries. i was away on some official work and so could not thank you immediately. your reply has definitely instilled confidence in me though i am yet to make my first move. i already have made hardbound book of your teaching here and gone through that 5 times. things are becoming clearer with each reading.

today i just wanted to have something clarified with regard to YESBANK. as on date (14/02/08), it is in uptrend as far as monthly and weekly charts are concerned( i have considered 3 years eod data). however, it has started a pullback on weekly. but when you look at the daily chart, it is in a sideway trend. it has already hit the resistance line (around 268) thrice (can't call it a tripple top!!!) in the daily chart. today (14/02/08) in daily chart, it has made a bullish candle. my query is, shall we take position over the high of this candle at 242 or shall we wait till pivot high of 260 or resistance 268 is breached in daily. i am considering position trading.

feel free to reply whenever you find time. as i am not much convergent with all those system generated signals, relying heavily on your teaching. i want my method to be simple as emphathised by you.

thanks in advance.

regards,

nick

Saint · #**1199** 15th February 2008, 08:43 PM

Chart attached.......to answer a few of Rangarajan's and Trader's Doubts.

Saint

rangarajan · #**1200** 15th February 2008, 09:04 PM

T/U Saint,i will come back to you after digesting your input.