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

rahulg77 · #**121** 12th April 2006, 07:48 PM

Hello Saint,
A great fall today

. i needed some information not regarding this thread and was not sure where to ask u. Sorry to bring it up here. I am right now using www.bseindia.com for my chart requirments of diff stocks. Now the problem i am facing is I draw a trendline and after a few days there is a new pivot point( higher or lower). now what happens is since everytime i go to the site i have to draw a trendline i end up drawing a new trendline because of a new pivot that forms. because of this i cannot follow the breaking the trendline rule.

If i get my own software..does it save the trendline i draw for a stock so the same trendline can stay and i will know when it is breached. I hope u get my point.

Rgds
Rahul

phoenix · #**122** 12th April 2006, 07:54 PM

Had been away for some time,Saint.Just had to compliment you on this thread.Way to go,my friend!!

Phoenix

Dhanya · #**123** 12th April 2006, 07:58 PM

Saint,

For drawing the trendlines,these are drawn on the arithmetic scale,right..or do you use the logarithmic?I have Metastk,and I noticed the two.So just wondering which you use.

Thanks in adv,

Regards
Dhanya

Saint · #**124** 12th April 2006, 08:02 PM

Quote:

Originally Posted by rahulg77

Hello Saint,
A great fall today

. i needed some information not regarding this thread and was not sure where to ask u. Sorry to bring it up here. I am right now using www.bseindia.com for my chart requirments of diff stocks. Now the problem i am facing is I draw a trendline and after a few days there is a new pivot point( higher or lower). now what happens is since everytime i go to the site i have to draw a trendline i end up drawing a new trendline because of a new pivot that forms. because of this i cannot follow the breaking the trendline rule.

If i get my own software..does it save the trendline i draw for a stock so the same trendline can stay and i will know when it is breached. I hope u get my point.

Rgds
Rahul

Hi Rahul,

I use Metastock,and yes,it saves the trendlines drawn.

Saint

Saint · #**125** 12th April 2006, 08:03 PM

Quote:

Originally Posted by phoenix

Had been away for some time,Saint.Just had to compliment you on this thread.Way to go,my friend!!

Phoenix

Welcome back,Phoenix......been long.And thank you for your kind words.

All the best!
Saint

Saint · #**126** 12th April 2006, 08:16 PM

Quote:

Originally Posted by Dhanya

Saint,

For drawing the trendlines,these are drawn on the arithmetic scale,right..or do you use the logarithmic?I have Metastk,and I noticed the two.So just wondering which you use.

Thanks in adv,

Regards
Dhanya

Thanks Dhanya,had forgotten to mention that.

Quote:

There are two types of scales :a)arithmetic b)semi-logarithmic

An arithmetic scale displays the price levels evenly in rupee terms as they move up. So therefore,a Rs10 move from 10-20,or from 100-110,or from 500-510 will look the same as they are all a difference of Rs10.

A semi-log scale displays price levels in percentage terms as they move up. A move from Rs10 to Rs20 is a 100% gain will look larger than a move from Rs 100-110 is a 10% gain,or a move from Rs500-510 which is only a 2% gain.

I use the semi-log scale......try it out,the rise looks smoother and the trendlines fit all the way.Which also means that a break in trendline is cause for some action.

On Metastock,go to the Y-AXIS of your charts.Right click it.Go to Y AXIS Properties.Tick the Semi-Log scale.Click apply.That's it.

All the best!
Saint

Alleppian · #**127** 14th April 2006, 07:45 AM

Dear Saint
Eventhough I am trading for 2 years now I used to skip all charts thinking it's not my cup of tea.and thought it is so complex that i could never learn the ABCD of it. But I think you really made confidence in me(may be a lot like me!) in reading the charts and some fundamentals about it. Thank you
With my limited knowledge got from you I analised the following stock of Morarka finace and find it in an up trend mood and gaining momentum. Am i correct? Please verify with the attached pic and reply

prashant_bpl · #**128** 14th April 2006, 09:07 AM

good service saint

AJAY · #**129** 14th April 2006, 01:38 PM

Hi Saint,

Once again it's proved here that a selfless effort makes the mission a big success. Congrats.

Praying to god to give you all the energies required

AJAY

srisara · #**130** 14th April 2006, 03:37 PM

Quote:

Originally Posted by Alleppian

Dear Saint
Eventhough I am trading for 2 years now I used to skip all charts thinking it's not my cup of tea.and thought it is so complex that i could never learn the ABCD of it. But I think you really made confidence in me(may be a lot like me!) in reading the charts and some fundamentals about it. Thank you
With my limited knowledge got from you I analised the following stock of Morarka finace and find it in an up trend mood and gaining momentum. Am i correct? Please verify with the attached pic and reply

Alleppian,

the first Trendline is not correct. Trendlines are drawn quote n quote where "Price Action" takes places. One should not draw a Trendline way away from the Prices, at it defeats the purpose.

Saint, I would like you to draw the correct Trendlines for this Chart and teach us a little more bit, as i have seen most of the people make mistakes in drawing Trendlines.

Note: Trendlines give the actual action taking place in the scrip, if it is drawn wrongly, the whole meaning changes and it can cause lossess to one's account.

So, One is not comfortable with Trendlines dont put them to use, until gained Experience.

Hope this helps... everyone...
Satya