Charts for the Day

[jain.er]

Something is wrong with my trading....I am posting few of my trades and my mindset...

I had bought Pipavav defence @60,, wanted to sell @80 ..reached around 79 ...but one day some news came in and it fell around 5% and I sold (Trailing stop loss)...only to to see in the next few days stock was back again at 80

Auropharma bought @120 around 5 weeks back, then a slew of good news came I thought defensive are no longer the flavor sold @130 only to see it reaching 160

TV18Broadcast huge vols and huge price action [email protected] within a week reached around 32 then last week t fell back to 26 levels (didnt apply trailing stop loss, also it was falling on weak vols)

I don't know what wrong I am doing here

Help needed SOS

 

[anil_s_trivedi]

Dear jain.er,

It happens you can never catch a top and bottom in the market...But this is problem of Retail investor, we can ride losses with great heart, but if we get a good profit even a smaller one, we get itching of covering it. i see only two solution to this, one is partial booking and other is the logic by which you initiated trade, doesnt hold good then sell it off. And yes trend in force dont change overnight, some distribution patterns always there.
you can coupled it with rising moving averages, to be in the trend. And it always good to book some and leave left for others die hard traders who wanna catch the top.
One quote from great trader...

Jesse Livermore...
"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

 

[Tharu]

Nifty 5min with our newer tool of Fibonacci levels projection from first 5min bar.
See how falling moving averages, and prices resisting at crucial levels, gives a entry points.
Anyways price action is weak till now, and bounce will face likely resistance closer to 5670 levels
On downside it seems a testing of sub 5620 levels on cards
More weakness on breach of 5580-90 levels

How to draw those fib projections..??

 

[anil_s_trivedi]

How to draw those fib projections..??

Dear Tharu,


Refer this post...

http://www.traderji.com/technical-analysis/69380-charts-day-22.html#post733980

 

[mangup]

Dear Tharu,


Refer this post...

http://www.traderji.com/technical-analysis/69380-charts-day-22.html#post733980

Hi Anil,

Do we need to draw them manually every day after calculation or is there any easy way to draw them on metastock charts.

 

[Tharu]

Hi Anil,

Do we need to draw them manually every day after calculation or is there any easy way to draw them on metastock charts.

+1
Do we have to draw them manually daily..?? Coz we ll have to do this during market hours after the first five min..

 

[mksreeram]

Hi All,

After losing huge money without the idea of trading, I came across Traderji. Got some confidence and went through few books on technical analysis. Based on the knowledge gained, I am starting paper trading and would like to do for sometime before going to the real trade. Below is my analysis based on daily NIFTY chart. Request your help to let me know whether my analysis is correct and guide where I am wrong. Attaching charts I have used.

Thanks
Sreeram

NIFTY Closing Price as on 26/10/2012- 5664.3

Based on NIFTY daily chart

EMA (Close,20) - 5666.58
EMA (Close,50) - 5553.24
Price gos below EMA20 - Sell signal

MACD - Signal line moved ahead of MACD line. Signal to Sell

RSI (14) - 52.58
RSI moving from 70 back down. Signal to Sell

Stochastic
%D - 87.17
%K - 86.16
Both at over bought level. %K crosses down %D - Sell Signal

With all the above analysis, taken decision to go short on NIFTY at

5664.3.
Stop Loss to keep at the previous high - 5722

 

[mksreeram]

Hi All,

After losing huge money without the idea of trading, I came across Traderji. Got some confidence and went through few books on technical analysis. Based on the knowledge gained, I am starting paper trading and would like to do for sometime before going to the real trade. Below is my analysis based on daily NIFTY chart. Request your help to let me know whether my analysis is correct and guide where I am wrong. Attaching charts I have used.

Thanks
Sreeram

NIFTY Closing Price as on 26/10/2012- 5664.3

Based on NIFTY daily chart

EMA (Close,20) - 5666.58
EMA (Close,50) - 5553.24
Price gos below EMA20 - Sell signal

MACD - Signal line moved ahead of MACD line. Signal to Sell

RSI (14) - 52.58
RSI moving from 70 back down. Signal to Sell

Stochastic
%D - 87.17
%K - 86.16
Both at over bought level. %K crosses down %D - Sell Signal

With all the above analysis, taken decision to go short on NIFTY at

5664.3.
Stop Loss to keep at the previous high - 5722

 

[anil_s_trivedi]

Hi All,

After losing huge money without the idea of trading, I came across Traderji. Got some confidence and went through few books on technical analysis. Based on the knowledge gained, I am starting paper trading and would like to do for sometime before going to the real trade. Below is my analysis based on daily NIFTY chart. Request your help to let me know whether my analysis is correct and guide where I am wrong. Attaching charts I have used.

Thanks
Sreeram

NIFTY Closing Price as on 26/10/2012- 5664.3

Based on NIFTY daily chart

EMA (Close,20) - 5666.58
EMA (Close,50) - 5553.24
Price gos below EMA20 - Sell signal

MACD - Signal line moved ahead of MACD line. Signal to Sell

RSI (14) - 52.58
RSI moving from 70 back down. Signal to Sell

Stochastic
%D - 87.17
%K - 86.16
Both at over bought level. %K crosses down %D - Sell Signal

With all the above analysis, taken decision to go short on NIFTY at

5664.3.
Stop Loss to keep at the previous high - 5722

Dear Sreeram,

This is very general analysis, and i dont have tested it. But what it appear from your strategy, you are shorting only if MACD crossed down, RSI turning down and price close below 20EMA. Here what is your TGT, a nominal one..since your Stoploss is almost 65 points up. So your TGT should be greater than stoploss. And yes timeframe. If your trade initiated on short side, and if market remains in the range what is your plan going to be.

Please state your strategy, look how this indicators fared on past signals. And likely TGT.

 

[anil_s_trivedi]

Hi Anil,

Do we need to draw them manually every day after calculation or is there any easy way to draw them on metastock charts.

Dear Mangup,

You can do it manually too. I am doing it. Its not a perfect tool, but what i observe is a great way of analysing the market. It is same concept what we use on with floor pivots R1,R2,R3 P S1,S2,S3.

Someone can code it in metastock. Let me try my hand on this.