New Intermed Uptrend!!

[Saint]

Hi Saint !!

Beautifully explained..
A truly enlightening post..

cheers
vizzie

Thank you for your kind words,my friend!

Saint

 

[Saint]

Hi Saint!
Hope you are doing great.
I have a question in mind since long, hope I will be able to get the solution ver here.

I was just wondering how the analysts give price targets for stocks. If Some Chart patterns are formed like Flag or H&S, then I do understand how targets can be fixed. But can you please explain the methodology for giving price targets on studying the indicators. Is this based upon some kind of extrapolation?

Best Regards,
--Ashish

Hi Ashish,

I basically concentrate on my stops rather than my targets.Setting up a tgt helps in the counting of risk and reward,and the higher it is,the more excited I am abt the trade.

In PBA INFRASTRUCTURE we had that nice rip of Rs66 before we got this pullback the last one month.Arbitrarily add Rs66 from here,roughly 220.That's huge risk reward .......basically once it starts to move,I end up starting to trail stop and get as much as possible till stopped.So targets don't mean much to the way I go abt doing things.

All the best!
Saint

 

[Saint]

Won't be around till Tuesday,but a few that are looking good to go are GOLDIAM,SHRENUJ and CLASSIC DIAMONDS,especially once Goldiam crosses 135.5,classic on crossing 188,shrenuj on crossing 40.

All the best!
Saint

 

[sandynisha]

hi saint,
i was jus thinking if i can pick up more shares of shanti gear at this level.....i asked one of my friends he said it is still a good bet....can u help me out
thanx

saint i think u missed mine....thanx........

 

[chachi]

Hi AJ,

First of all,no question is stupid.Every doubt is a stepping stone to success.

About L&T and the others, no real answer though,maybe someone could tell you some news related or some other fundamental answer.Maybe some technical correction.If you are into looking at charts following trends,the question "Why"does not exist.It is,or it is not.There is no why it is,or why it is not.Just "it is",or "isn't".We have our spiritual masters who advise us on moment to moment awareness,or living in the present or living in the now.........trend following is something like that.The rational mind is taught to shut itself up.We see a pattern,we get an entry,exit pts,we share size properly as per our money management disciplines,and then we trail stop,and through all this the mind is taught not to ask why,not to count the ruppes earned while the trade is still in progress,not to budge from our disciplines............basically not to think at all.All thinking and planning happens the night before,thinking stops while the market is on.Just entries,exits,share sizes,again and again for many trades.What happens is we end up trading without fear or greed,we stand aside from all the emotions that drive the markets.And while everyone around us is oscillating between fear and greed,we stand aside and quietly and confidently make our profits.

All the best!
Saint

You are answering like a saint, and I like it. It is nice that these enlightening words will bring me back to a proper thinking...Thank you saint

Regards
Chachi

 

[ajesh]

Hi AJ,

IFCI :Had answered the query earlier 2 posts ago,so please refer.

First of all,no question is stupid.Every doubt is a stepping stone to success.

About L&T and the others, no real answer though,maybe someone could tell you some news related or some other fundamental answer.Maybe some technical correction.If you are into looking at charts following trends,the question "Why"does not exist.It is,or it is not.There is no why it is,or why it is not.Just "it is",or "isn't".We have our spiritual masters who advise us on moment to moment awareness,or living in the present or living in the now.........trend following is something like that.The rational mind is taught to shut itself up.We see a pattern,we get an entry,exit pts,we share size properly as per our money management disciplines,and then we trail stop,and through all this the mind is taught not to ask why,not to count the ruppes earned while the trade is still in progress,not to budge from our disciplines............basically not to think at all.All thinking and planning happens the night before,thinking stops while the market is on.Just entries,exits,share sizes,again and again for many trades.What happens is we end up trading without fear or greed,we stand aside from all the emotions that drive the markets.And while everyone around us is oscillating between fear and greed,we stand aside and quietly and confidently make our profits.

All the best!
Saint

hey saint

i think u wr in real bad mood while answering to my question i think my question made u do that

anyway thanks for the answer i appreciate it u ppl r really doing some kind and good thing
ithink i will exit ifci damn.....!!!!!!
what i mistake i made
regards....!!!!!!!!!

aj..!!

 

[srinichennai]

Hi Everyone:

I am a newbee in Traderji and Am very happy to a part of this community. Just wanted to say hello to all of you. Will post more in the future.

 

[ragh_ash]

hi saint,
u seem to have been online say 3,4 hrs replying to various posts.
Hats off to you man, what selfless service
there is so much else i can learn from you other than trading.
regards

 

[ramtrade]

Hi Ramesh,

Been a long time of silence,my friend.

Your introspection is correct.If you had adhered to trailing stop losses method,you would still have been in.And yes,always check out the weekly for some sort of verification.

Saint

Thanks for the reply Saint. Feel happy to be called your friend. Yes saint, it's been quite some time since i visited the site...got lost in the market noise and lost some money. I am back to my roots again now.
It's very surprising and interesting to know how our Physcology affects your trading also. I do all the preparations do good home work(though not complete when compared to learned persons out here) and when it comes to final moment, everything is thrown in the air. I get pulled into the market noise and various posts ....and in the end results are there to be seen in my portfolio .
Wonderful and suprised to see my fears,desparation & anxiety manifests in your portfolio.
Recent days i have started reading Elliot Wave theory. Got a very good e- book - Mastering Elliot Wave by Glenn Neely. Very very exhaustive cases. Worth reading and giving it a try.

I had posted some quries on OBC,Suryalakshmi Cotton and Polyplex with Amit. I suggest the members to visit the post. Suryalakshmi Cotton is worth watching for +ve move.

Person with high risk appetite take a look Balaji Distilleries.

Thanks
Ramesh

 

[ramtrade]

Hi Ramesh,

Wonder if you use the TRIX.That showed a bullish divergence for quite some time,so technical traders + news related led to that neat rally on Friday.If we get a mild pullback from those highs,would be a nice buy.

All the best!
Saint

Hi Saint,

Never used TRIX. Have been hearing this for quite some time in here bot never checked. Can you suggest some sites or materials where i can look at this...? I compeltey agree with you Saint. I guess the news played a major role for the Friday's move. When i read its annual report, i did not find anything worth good. It's only this year there have been good developments in this company with all the hightened emphasis of the energy by the goverenment.
Another stock which i was looking at was RPG Life sciences. Need your inputs and advice on this once you are back from your vacation.

Thanks
Ramesh