Q & A with Traderji

Trader123 · #21 21st July 2006, 12:49 AM

Quote:

Originally Posted by Traderji

I swing trade breakouts of chart patterns like pennants and flags.

For exampe after a stock has made a new three month high on the daily chart (this confirms an uptrend) I wait for a consolidation of at least a week (during which time that chart could form a pennant or flag)

I then go long only on a close above the previous 5 day high and ride the trend with a trailing stop below the previous days low.

So in another words Traderji your filter looks for 3 month highs .. u wait for a consolidation and then enter.Could u explain the process after the stock has created a ninty day high with an example...Why 90 day why not 20 day or 30 days..??

Traderji · #22 21st July 2006, 07:30 AM

Quote:

Originally Posted by rahulg77

Dear Traderji,

If know about patterns but want to learn how to trade using patterns and breakouts then which book do u suggest. Is there a book that teaches us how to trade and have setups, entry points and exit points using patterns.

Also do u search all stocks manually or use any software to identify patterns and then study them in greater detail.

Regards

Rahul

Apart from the book that I have recommended earlier the other book you can read is Technical Analysis of Stock Trends by Edward & Magee!

I search for stocks manually. I visually go through about 100-150 charts every day. This gives me a better feel of what patterns could be developing in every stock.

Traderji · #23 21st July 2006, 07:33 AM

Quote:

Originally Posted by Trader123

So in another words Traderji your filter looks for 3 month highs .. u wait for a consolidation and then enter.Could u explain the process after the stock has created a ninty day high with an example...Why 90 day why not 20 day or 30 days..??

A new three month high confirms and indicates that the stock has begun an intermediate uptrend.

A three month high is 63 bars on the daily chart and not 90 bars. You can easily scan for stocks making a new 3 month high using the following formula in MetaStock:

c> ref(hhv(c,63),-1)

rahulg77 · #24 21st July 2006, 12:21 PM

Quote:

Originally Posted by Traderji

A new three month high confirms and indicates that the stock has begun an intermediate uptrend.

A three month high is 63 bars on the daily chart and not 90 bars. You can easily scan for stocks making a new 3 month high using the following formula in MetaStock:

c> ref(hhv(c,63),-1)

Dear Traderji,

Even if the the chart has made a lower pivot low and is now moving up and has not crossed the previous pivot high but has made a 3 month high can we still say that the stock has begun an intermediate uptrend.

Regards

Rahul

Trader123 · #25 21st July 2006, 12:44 PM

Thanks for all the help Traderji.. ! You truly have a wonderful site.. all the mebers have a nice sharing spirit which makes it even better..Please keep up the good work.

Traderji · #26 21st July 2006, 12:57 PM

Quote:

Originally Posted by rahulg77

Dear Traderji,

Even if the the chart has made a lower pivot low and is now moving up and has not crossed the previous pivot high but has made a 3 month high can we still say that the stock has begun an intermediate uptrend.

Regards

Rahul

Can you define the pivot high or low you are reffering to?

hasobha · #27 21st July 2006, 02:16 PM

Dear Traderji

It is indeed a good Idea to know from Stock Suprimo to trade better ourself.

Traderji, I would like to know more about putting stoploss order. Do you put stoploss order daily into system ? Because at present,most of online trading platform, you can not put stoploss order for good till execution. You can put stoploss for oneday only. This is as per my knowledge.

Is there any method available for putting stop loss order, which is valid till execution ? or in other words How do you put your stoploss order into system ?

Thanks in advance

Hasobha

Traderji · #28 21st July 2006, 02:51 PM

Quote:

Originally Posted by hasobha

Dear Traderji

It is indeed a good Idea to know from Stock Suprimo to trade better ourself.

Traderji, I would like to know more about putting stoploss order. Do you put stoploss order daily into system ? Because at present,most of online trading platform, you can not put stoploss order for good till execution. You can put stoploss for oneday only. This is as per my knowledge.

Is there any method available for putting stop loss order, which is valid till execution ? or in other words How do you put your stoploss order into system ?

Thanks in advance

Hasobha

The NSE terminal does have a system of accepting orders which are good till cancelled (GTC) but most online brokers only allow you to input orders which are good till day (GTD). I do not know the reason why. Maybe a NSE stock broker can comment on this.

However since I use a trailing stoploss which changes everyday I input stoploss orders on a daily basis.

rahulg77 · #29 21st July 2006, 03:22 PM

Quote:

Originally Posted by Traderji

Can you define the pivot high or low you are reffering to?

I have tried to draw a small example of what I was refering too. In which I have assumed( i do not knwo if it is possible) that the stock had a made a pivot low and then it has still not crossed the previous pivot high but it has made a three month high. So if we take the pivots into consideration the stock still does not know an uptrend. pls find the file attached below.

U wait for stock to make a 3 month high which confirms an uptrend and then u wait for it to consolidate. How do u capture a downtrend of a stock. Do u see a 3 month low.

Regards

Rahul

Traderji · #30 21st July 2006, 07:00 PM

Quote:

Originally Posted by rahulg77

I have tried to draw a small example of what I was refering too. In which I have assumed( i do not knwo if it is possible) that the stock had a made a pivot low and then it has still not crossed the previous pivot high but it has made a three month high. So if we take the pivots into consideration the stock still does not know an uptrend. pls find the file attached below.

U wait for stock to make a 3 month high which confirms an uptrend and then u wait for it to consolidate. How do u capture a downtrend of a stock. Do u see a 3 month low.

Regards

Rahul

If I am assuming correctly that you are reffering to Swing High as a pivot high then a 3 month high will definately be above the pivot high!

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