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

nick721156 · #**1531** 16th April 2008, 07:12 PM

dear saint,

i am posting a picture of weekly chart alongwith a question. Would be glad to have your valuable answer.

regards,

Nick

Saint · #**1532** 16th April 2008, 09:15 PM

Quote:

Originally Posted by nick721156

dear saint,

in weekly chart, balrampur chini had come out of downtrend sometime back and now, in my opinion, is in sideway move. shall i take position now itself as this week has taken out the high of previous week or once pivot high (PH1) is taken out?

clarify when you find time.

regards,

Nick

Nick,

As you are talking weekly,for a perspective,take a look at the monthly....Have a look at January,one bar down after that these three months have been sideways........So far,is this a higher pivot low,getting ready to take out pivot highs?Or is this some sort of a bear flag,ready to go down?

No answer to that one..........therefore if trading the intermed trend,stay clear of anticipating on this one.React to a move in either direction......Enter long over 127,short below 69,stay out of the rest....

Saint

Saint · #**1533** 16th April 2008, 09:20 PM

Quote:

Originally Posted by nick721156

dear saint,

which one is pivot low " A ' or ' B ' in the chart ? Have i drawn the trendlines correctly?

regards,

nick

Both are pivot lows.........but the one that's important to you as a trader is the first pivot low at the rising wedge top.Short the break of that pivot low.

But yes,theories wise,both are pivot lows.

Great job on the trendlines,my friend.......well done!!

Saint

Saint · #**1534** 16th April 2008, 09:41 PM

Quote:

Originally Posted by slah04

Best wishes to you too Saint and your family for a happy and prosperous new year

slah

Thanks Slah...

Saint

Saint · #**1535** 16th April 2008, 09:42 PM

Quote:

Originally Posted by ramash

Hi saint,

Thank you for the wishes and we wish you and your family the same . As a new comer have learned a lot from your thread and am still trying to get through it. Am regularly following your new intermediate uptrend also.

Your thread really helps lot of new comers to understand the basics. Thanks once again and we need your posts more and more.

ramash

Thank you for all your warm words,Ramash....

Saint

Saint · #**1536** 17th April 2008, 02:34 AM

Quote:

Originally Posted by nick721156

dear saint,

i am posting a picture of weekly chart alongwith a question. Would be glad to have your valuable answer.

regards,

Nick

Some interesting questions from you,Nick.....all practical trading related.

Perfect scenario:Weekly decline,buy the pivot high break on the daily

Presuming by the time you realised the existence of this stock,that first week denoted by A in your charts is over......Buy on daily when the previous high of Week A is taken out,follow pivot lows as per daily charts.

If even this was missed,look at daily pullback and once prev pivot highs are taken out,get in with a stop at prev pivot lows.

Presuming you have missed the whole run-up,some 5-6 possible entries........look for another opportunity elsewhere!

All the best!
Happy Trading!
Saint

lvgandhi · #**1537** 17th April 2008, 08:22 AM

Dear Saint
CNXIT has broken previous pivot high on 16/10/08 on weekly. But it has not formed higher pivot low still on weekly thought on daily it has borken previous pivot high on 25/03/08 and formed pivot low on 01/04/08. Can we say that weekly of CNXIT is in uptrend only now or earlier sothat we can trade/go long in daily? When we should have gone long in daily?

jamit_05 · #**1538** 17th April 2008, 11:54 AM

Hi Saint,

This twist is an interesting one. We are now learning to work with probablities. I mean, we are buying @ DHPLs . Even though we know that over 50% DHPL tend to fail.

So, thus far I have learned that in such precarious situations it is wise to enter only with tight stops and exit a good chunk when the hourly starts to deccelerate. It is very likely that this 1-2-3 setup might not fall through as desired so we put some cash into our pockets.
But, once the daily trend is in place you'd follow the Pivot-Trend method.

(Question) The most important part of this ruse is that we enter with tight stops. Is there a by-the-book way to do that?

Amit

Saint · #**1539** 17th April 2008, 12:10 PM

Quote:

Originally Posted by jamit_05

Hi Saint,

This twist is an interesting one. We are now learning to work with probablities. I mean, we are buying @ DHPLs . Even though we know that over 50% DHPL tend to fail.

........entering at higher pivot lows only on certain cases,certain patterns that give us a higher probability of success....as said before,like entering within an asc triangle(small position)......please don't buy at every higher pivot low with a tight stop loss.....that's not what was indicated.

Quote:

So, thus far I have learned that in such precarious situations it is wise to enter only with tight stops and exit a good chunk when the hourly starts to deccelerate. It is very likely that this 1-2-3 setup might not fall through as desired so we put some cash into our pockets.

..........nothing like that!Buy because you are anticipating a breakout in certain instances with tight stops below pivot lows on the daily.

Quote:

But, once the daily trend is in place you'd follow the Pivot-Trend method.

Yep!

Quote:

(Question) The most important part of this ruse is that we enter with tight stops. Is there a by-the-book way to do that?

Amit

Entry is simple......enter with stops below pivot lows........the question should be which are the instances when this should be done?Do we anticipate in every instance?Answer to that one is no......React as always to pivot highs getting taken out.Anticipate in only a few cases.......Now,which ones is the question.

Shall discuss that later.

Saint

nick721156 · #**1540** 17th April 2008, 05:00 PM

Quote:

Originally Posted by Saint

Some interesting questions from you,Nick.....all practical trading related.

Perfect scenario:Weekly decline,buy the pivot high break on the daily

Presuming by the time you realised the existence of this stock,that first week denoted by A in your charts is over......Buy on daily when the previous high of Week A is taken out,follow pivot lows as per daily charts.

If even this was missed,look at daily pullback and once prev pivot highs are taken out,get in with a stop at prev pivot lows.

Presuming you have missed the whole run-up,some 5-6 possible entries........look for another opportunity elsewhere!

All the best!
Happy Trading!
Saint

dear saint,

many many thanks for your reply.

regards,

Nick