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

jamit_05 · #**1441** 8th April 2008, 01:22 PM

Quote:

Originally Posted by Saint

....

Just to clarify that one point........what does the word"guideline" or "definition" mean?

Either way,what I mean is :Pivot high is at 100,meaning my entry IS at 101 as per my filter given.

It's rigid,it has to be like that every time,again and again.......there is no compromise,the entry is there always,stop loss always below the previous pivot lows........Everything is a hard and fast rule,will not budge from it!...

All the best!
Saint

Thank you Saint for the comment. ---RIGID ENTRY @ 101--- no ifs no buts!

Saint · #**1442** 8th April 2008, 01:41 PM

Quote:

Originally Posted by Bitz

Hi..
this is Nifty today(8/4) till arnd 1 pm
Is this a falling wedge formation...
will this mean nifty will break this to rise?

No Bitz......the lower line as drawn by yourself should be pointing downwards to qualify as a falling wedge which is a reversal pattern to the bullish side.......

Saint

Saint · #**1443** 8th April 2008, 01:42 PM

Quote:

Originally Posted by jamit_05

Thank you Saint for the comment. ---RIGID ENTRY @ 101--- no ifs no buts!

ah,lots of ifs and buts....but rigid,yes!

Saint

Saint · #**1444** 8th April 2008, 01:48 PM

Quote:

Originally Posted by Saint

No Bitz......the lower line as drawn by yourself should be pointing downwards to qualify as a falling wedge which is a reversal pattern to the bullish side.......

Saint

Well,Bitz.....now looking more and more like a falling wedge.

Saint

Bitz · #**1445** 8th April 2008, 01:50 PM

Hmm..ok...
thanks saint

Saint · #**1446** 8th April 2008, 03:05 PM

Quote:

Originally Posted by jamit_05

Thank you prabhjeetrana for the persistence in this regard. It is thus that I try and understand finer details. Pls, be aware that I am a rookie. So feel super free to correct me... again and again. Tks.

Since this discussion is about trading this reliance chart at its best. I have attached a chart below showing where entry couldve been made.

The weekly has been up all along. So, we wait for a daily pivot low to be broken. It did on 6/6/07 marked by a Red dotted line.

Following this event, we want a daily pivot high to be broken, which happened on 19/6/07 at the Blue dotted line. This is our entry with a stop at a few points below the prev pivot low at 1666.50. So entry @ 1710, SL @ 1666.50 (risk is Rs.44 per share).

Now our exit comes @ 1875. So our return is Rs.165 per share.

So we have successfully traded it thus far.

Point being, we are trading this daily chart. If I throw in the 10% filter here then my returns diminish from the exit point of 1875 by Rs.188. This is more than our returns of Rs.165.

However, I might add that 10% filter is a thought provoking idea and has its place in trading. I am trying to apply it in a higher time frame chart. Once, I have something concrete I will post.

Amit.

Excellent Amit.........great going!!

Once again,excellent.............sorry for the overdose of exuberance.It is nothing but pride in overflow mode.

Saint

shrineha · #**1447** 8th April 2008, 03:54 PM

Great stuff Amit,

Thanks for explaining it with clear points marked. It cleared my doubt about Pivot with more clarity.

Hello Saint, based on your teaching today I have tried to Fish 'Kaushalya Infrastructure', would keep a watch on how it goes. My entry was at 37 and stoploss at 28.

Thanks once again.

Kind regards,
shrineha

slah04 · #**1448** 8th April 2008, 04:19 PM

Quote:

Originally Posted by jamit_05

Thank you prabhjeetrana for the persistence in this regard. It is thus that I try and understand finer details. Pls, be aware that I am a rookie. So feel super free to correct me... again and again. Tks.

Since this discussion is about trading this reliance chart at its best. I have attached a chart below showing where entry couldve been made.

The weekly has been up all along. So, we wait for a daily pivot low to be broken. It did on 6/6/07 marked by a Red dotted line.

Following this event, we want a daily pivot high to be broken, which happened on 19/6/07 at the Blue dotted line. This is our entry with a stop at a few points below the prev pivot low at 1666.50. So entry @ 1710, SL @ 1666.50 (risk is Rs.44 per share).

Now our exit comes @ 1875. So our return is Rs.165 per share.

So we have successfully traded it thus far.

Point being, we are trading this daily chart. If I throw in the 10% filter here then my returns diminish from the exit point of 1875 by Rs.188. This is more than our returns of Rs.165.

However, I might add that 10% filter is a thought provoking idea and has its place in trading. I am trying to apply it in a higher time frame chart. Once, I have something concrete I will post.

Amit.

Hi Amit

This is Sanjib. I have been visiting this forum since february and its been a really good learning experience (which happens obviously when we come in contact with pros like you and Saint and UAshish.

Now if you can bear with some of my stupid questions...

With ref to your chart, could you please explain why the exit came @ 1875. Am still trying to get a hold of the "Pivots". What is a 10% filter?

Thanks

San

prabhjeetrana · #**1449** 8th April 2008, 06:19 PM

Quote:

Originally Posted by Saint

Alright,now to clarify some stuff that's been bothering me in this thread.........

Please do get back to me .....I'll do my best to clarify.

What I do NOT want is all kinds of theories propagated as if said by me.......

Saint

I think I have angered you with all the wrong explainations of your theories, will try to dig deeper into your theories and will keep my mouth shut till then.

Regards

prabhjeetrana · #**1450** 8th April 2008, 06:38 PM

Quote:

Originally Posted by jamit_05

Thank you prabhjeetrana for the persistence in this regard. It is thus that I try and understand finer details. Pls, be aware that I am a rookie. So feel super free to correct me... again and again. Tks.

Since this discussion is about trading this reliance chart at its best. I have attached a chart below showing where entry couldve been made.

The weekly has been up all along. So, we wait for a daily pivot low to be broken. It did on 6/6/07 marked by a Red dotted line.

Following this event, we want a daily pivot high to be broken, which happened on 19/6/07 at the Blue dotted line. This is our entry with a stop at a few points below the prev pivot low at 1666.50. So entry @ 1710, SL @ 1666.50 (risk is Rs.44 per share).

Now our exit comes @ 1875. So our return is Rs.165 per share.

So we have successfully traded it thus far.

Point being, we are trading this daily chart. If I throw in the 10% filter here then my returns diminish from the exit point of 1875 by Rs.188. This is more than our returns of Rs.165.

However, I might add that 10% filter is a thought provoking idea and has its place in trading. I am trying to apply it in a higher time frame chart. Once, I have something concrete I will post.

Amit.

10% filter seems to be useless when we apply after having only single higher pivot low in our favour. The way I use my 10% filter is either when I have atleast 4 higher pivot lows with me or when my trade has gained more than 50%

My funda for using this tactic is that when you have a real good winner dont let it go easily , I am not advocating to latch on to trade until we turn it from a winner to a loser but giving your obedient disciple just a little bit more room for error. I have felt it personally that after getting out of a large profitable trade we do tend to make a few bad trades so i let my good trade jump up & down more.

This filter thing though is a matter of only personal liking just like we add salt according to our own taste, so everybody has to decide for themselves whether we use it or not and if we do use it than whats the limit.

Will come up with charts of Nagarjuna and Ifci ,how filter worked for me

Regards