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a layman's approach to break out and break down |
casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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Post: #1096  Posted: Thu Jan 06, 2011 1:22 pm Post subject: |
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| casper wrote: | ali
i could not understand what u meant
but seeing ur post subject (which i generally avoid). it looks like u hv prb in tcs
as per my drawing, the bo level in tcs is 1163. if an hourly candle closes below 1163, i repeat, CLOSES BELOW 1163, then i would think that my sl is hit and i would sell out my position to avoid further loss
currently it is trading at 1162, below my sl lvel, but the candle is yet to close,
the current candle will close at 1pm
if the closing price stays below 1163 then i will sell,
if closing price e is above the level then i will continue holding it.
in any case, if and only if price comes down VERY FAST then only i will consider selling before candle close
i am holding it at 1064 level |
just to update u
our candle has closed below bo level
in theory we should sell
in fact we must sell out now
but i see the support of weekly pivot and 34 ema, so PERSONALLY i am holding it
now its on the trader's mentality that will he hold or not, as per theory our sl is hit.
i am taking a lil bit risk, my trade's responsibility is mine now,u should use ur own discretion. now i will use this 1160 level as my sl
this is just a update
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1097 Posted: Thu Jan 06, 2011 1:40 pm Post subject: |
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thanks for ur input bhai .
actually dont watch charts. i was following u and your levels. so cudnt see the levels to be seen on charts
| casper wrote: | | casper wrote: | ali
i could not understand what u meant
but seeing ur post subject (which i generally avoid). it looks like u hv prb in tcs
as per my drawing, the bo level in tcs is 1163. if an hourly candle closes below 1163, i repeat, CLOSES BELOW 1163, then i would think that my sl is hit and i would sell out my position to avoid further loss
currently it is trading at 1162, below my sl lvel, but the candle is yet to close,
the current candle will close at 1pm
if the closing price stays below 1163 then i will sell,
if closing price e is above the level then i will continue holding it.
in any case, if and only if price comes down VERY FAST then only i will consider selling before candle close
i am holding it at 1064 level |
just to update u
our candle has closed below bo level
in theory we should sell
in fact we must sell out now
but i see the support of weekly pivot and 34 ema, so PERSONALLY i am holding it
now its on the trader's mentality that will he hold or not, as per theory our sl is hit.
i am taking a lil bit risk, my trade's responsibility is mine now,u should use ur own discretion. now i will use this 1160 level as my sl
this is just a update |
thanks for ur input bhai .
actually dont watch charts. i was following u and your levels. so cudnt see the levels to be seen on charts
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1098 Posted: Thu Jan 06, 2011 2:33 pm Post subject: |
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ali
i bought tcs for intra only
now its around my cost price viz 1064
as the intra day time is going to end, i will exit at cost price and will check it for tommorw.
i hope it will go up as the set up is still intact
i will update it if i buy it again
and one more thing,
my levels are as per intra day chart -jchart basic
i dont know do u subscribe it or not.
if u subscribe it then no prb or else i will update all my calls, candle to candle basis, if u want
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1099 Posted: Thu Jan 06, 2011 2:36 pm Post subject: |
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| yes bhai please post all your trades, intra/positional. it will be very helpful to me.
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1100 Posted: Thu Jan 06, 2011 3:31 pm Post subject: |
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| your tcs really did well bro.
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girishhu1
White Belt
Joined: 17 Aug 2009
Posts: 316
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| Post: #1101 Posted: Thu Jan 06, 2011 3:48 pm Post subject: |
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hellow casperji,
last hour candle in tcs. must have tested your patience beyond limit
praj is nicely in uptrend and today corrected nicely, closed just above 13 ema. can be entered or should we wait?what signs on hrly chart should be seen to enter this stock?
regards,
girish
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1102 Posted: Thu Jan 06, 2011 4:16 pm Post subject: |
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| girishhu1 wrote: | hellow casperji,
last hour candle in tcs. must have tested your patience beyond limit
praj is nicely in uptrend and today corrected nicely, closed just above 13 ema. can be entered or should we wait?what signs on hrly chart should be seen to enter this stock?
regards,
girish |
girish bhayaa
blame it on my luck 
i wrote that i was holding for intra day only, so my intraday position had to be closed by 2.55.
thats why i left it at cost price, after that it gave the desired movement
now checking praj and will update in a while
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1103 Posted: Thu Jan 06, 2011 4:20 pm Post subject: |
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| ali522003 wrote: | | your tcs really did well bro. |
look at my luck ali bhai, the moment i went out,it started moving
looks like it was not moving due to my weight only
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1104 Posted: Thu Jan 06, 2011 4:39 pm Post subject: |
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as per my chart
praj ind has 89 ema at 80.82. weekly pivot at 80.71 and monthly pivot at 78.92
all are supporting price here.
again as per eod chart (my eod is not updated yet, u know its basic chart)
we have the trend lines supporting here, this is also the 38% of the previous upmove as per fibo calculations
so overall, we can expect very strong support at this level and price is likely to be arrested in this level
but as of now, i dont see any sign of next upmove
i expect (expect only) tomorrow it may open at this level and with the support it can start upmove
in that case, open =low is possible
but, by any chance, if we get gap up move, then i tink it will retest this support before upmoving
i will update about it in the 1st hour of trading
in fact, apart from making patterns, i dont think, 60 min chart will tell us any thing else
but i am experimenting with rsi divergence in lesser tfs and it gives us early warning
as of now, there is no div in rsi also, so only after next opening i will be able to comment
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1105 Posted: Thu Jan 06, 2011 4:40 pm Post subject: |
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| please give your levels on forum from tom. so that i also take some benfit from them
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1106 Posted: Thu Jan 06, 2011 4:43 pm Post subject: |
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| ali522003 wrote: | | please give your levels on forum from tom. so that i also take some benfit from them |
yes ali bhai, sure
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PrashantSarnaik
White Belt
Joined: 02 Dec 2010
Posts: 26
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| Post: #1107 Posted: Thu Jan 06, 2011 4:57 pm Post subject: Casper can u put some insight on Futures trading? |
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| casper wrote: | | ali522003 wrote: | | please give your levels on forum from tom. so that i also take some benfit from them |
yes ali bhai, sure |
Casper I trade mainly in futures and options as I think for investment I need money and that can be earned through F&O trading only. I am doing it since last 3 and half months. I had some wonderful trades and some worst trades also. I didnyt earned too much neither I lost my money.
I use TA only in trading & I am not a day trader.
I would appreciate your reply
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casper
Green Belt
Joined: 02 Oct 2010
Posts: 1315
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| Post: #1108 Posted: Thu Jan 06, 2011 5:57 pm Post subject: Re: Casper can u put some insight on Futures trading? |
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| PrashantSarnaik wrote: | | casper wrote: | | ali522003 wrote: | | please give your levels on forum from tom. so that i also take some benfit from them |
yes ali bhai, sure |
Casper I trade mainly in futures and options as I think for investment I need money and that can be earned through F&O trading only. I am doing it since last 3 and half months. I had some wonderful trades and some worst trades also. I didnyt earned too much neither I lost my money.
I use TA only in trading & I am not a day trader.
I would appreciate your reply |
hi prashant
its so nice to have u among us
yes we all have some wonderful trades and some worst trade
we need to trail our profit and cut our losses fast, its easy to say but hard to do
here we try to trade on real time data. i prefer to trade with ascending triangle and descending triangle patterns. most of the calls posted here is from f/o segment stocks but we use cash price as reference
generally. i try to finish my trades within intra day, atleast i dont carry my loss over night
i use price pattern and macd+rsi combo as my indicators and for positional trades i us eod chart for reference but i go by real time chart only. u can say its my habit now
from tomorrow i will provide candle to candle update of my calls, see if it helps u
and in this thread, not only me, but more experienced trader than me, like sumesh_sol, vishy.tns and many others, post their calls and views
i am sure u will be benefited by them also
just one thing to mention
plz keep proper stop loss, we mention sls always. u can use ur sls also. infact the reason of ur trading should be ur sl
for example , if u sell at a resistance and hope to book at support, then this particular resistance level, if breached conclusively, will act as ur sl
the bottom line is, the more we trade reasonably, the more we are successful
if u dont see a reason, just ask why this call is given, u should understand what is the risk of that trade and u should satiffy urself whether u r capable of risking that much or not
ask hundred time "what if????""
satisfy ur inner-self by reasons, dont get carried away by profit prospect, always think about risk involved
i myself, can say, that i never trade enthusiastically, i always trade reluctantly, bcoz i try to have a clear idea of what i can risk and how much i can risk
stock market is like a living picture of life for me. we have to be reasonable to survive,we cant try to be hero by adventuring in real life, thats equally true in stock market also
i will always have a second chance to trade a magnificent trade, but if i get killed in my 1st trade, there may be no tomorrow for me in this market
i am writing all these, wasting ur and my time, only to alert u bcoz the instruments u r using, are meant to be used by professionals only
u should be very careful with f/o segment. u should have strict money management rules in place, and then money will follow u. u dont have to even think about money also. GOD"S WILLING. u will be flooded by money
just we need to be a lil carefull
that all
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PrashantSarnaik
White Belt
Joined: 02 Dec 2010
Posts: 26
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| Post: #1109 Posted: Thu Jan 06, 2011 7:00 pm Post subject: Re: Casper can u put some insight on Futures trading? |
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| casper wrote: | | PrashantSarnaik wrote: | | casper wrote: | | ali522003 wrote: | | please give your levels on forum from tom. so that i also take some benfit from them |
yes ali bhai, sure |
Casper I trade mainly in futures and options as I think for investment I need money and that can be earned through F&O trading only. I am doing it since last 3 and half months. I had some wonderful trades and some worst trades also. I didnyt earned too much neither I lost my money.
I use TA only in trading & I am not a day trader.
I would appreciate your reply |
hi prashant
its so nice to have u among us
yes we all have some wonderful trades and some worst trade
we need to trail our profit and cut our losses fast, its easy to say but hard to do
here we try to trade on real time data. i prefer to trade with ascending triangle and descending triangle patterns. most of the calls posted here is from f/o segment stocks but we use cash price as reference
generally. i try to finish my trades within intra day, atleast i dont carry my loss over night
i use price pattern and macd+rsi combo as my indicators and for positional trades i us eod chart for reference but i go by real time chart only. u can say its my habit now
from tomorrow i will provide candle to candle update of my calls, see if it helps u
and in this thread, not only me, but more experienced trader than me, like sumesh_sol, vishy.tns and many others, post their calls and views
i am sure u will be benefited by them also
just one thing to mention
plz keep proper stop loss, we mention sls always. u can use ur sls also. infact the reason of ur trading should be ur sl
for example , if u sell at a resistance and hope to book at support, then this particular resistance level, if breached conclusively, will act as ur sl
the bottom line is, the more we trade reasonably, the more we are successful
if u dont see a reason, just ask why this call is given, u should understand what is the risk of that trade and u should satiffy urself whether u r capable of risking that much or not
ask hundred time "what if????""
satisfy ur inner-self by reasons, dont get carried away by profit prospect, always think about risk involved
i myself, can say, that i never trade enthusiastically, i always trade reluctantly, bcoz i try to have a clear idea of what i can risk and how much i can risk
stock market is like a living picture of life for me. we have to be reasonable to survive,we cant try to be hero by adventuring in real life, thats equally true in stock market also
i will always have a second chance to trade a magnificent trade, but if i get killed in my 1st trade, there may be no tomorrow for me in this market
i am writing all these, wasting ur and my time, only to alert u bcoz the instruments u r using, are meant to be used by professionals only
u should be very careful with f/o segment. u should have strict money management rules in place, and then money will follow u. u dont have to even think about money also. GOD"S WILLING. u will be flooded by money
just we need to be a lil carefull
that all
Casper,
Attaching chart of Ambuja a probable H&S pattern is it? if yes levels to trade, hope I am not irritating u!
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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| Post: #1110 Posted: Thu Jan 06, 2011 7:46 pm Post subject: Re: Casper can u put some insight on Futures trading? |
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| PrashantSarnaik wrote: | | casper wrote: | | PrashantSarnaik wrote: | | casper wrote: | | ali522003 wrote: | | please give your levels on forum from tom. so that i also take some benfit from them |
yes ali bhai, sure |
Casper I trade mainly in futures and options as I think for investment I need money and that can be earned through F&O trading only. I am doing it since last 3 and half months. I had some wonderful trades and some worst trades also. I didnyt earned too much neither I lost my money.
I use TA only in trading & I am not a day trader.
I would appreciate your reply |
hi prashant
its so nice to have u among us
yes we all have some wonderful trades and some worst trade
we need to trail our profit and cut our losses fast, its easy to say but hard to do
here we try to trade on real time data. i prefer to trade with ascending triangle and descending triangle patterns. most of the calls posted here is from f/o segment stocks but we use cash price as reference
generally. i try to finish my trades within intra day, atleast i dont carry my loss over night
i use price pattern and macd+rsi combo as my indicators and for positional trades i us eod chart for reference but i go by real time chart only. u can say its my habit now
from tomorrow i will provide candle to candle update of my calls, see if it helps u
and in this thread, not only me, but more experienced trader than me, like sumesh_sol, vishy.tns and many others, post their calls and views
i am sure u will be benefited by them also
just one thing to mention
plz keep proper stop loss, we mention sls always. u can use ur sls also. infact the reason of ur trading should be ur sl
for example , if u sell at a resistance and hope to book at support, then this particular resistance level, if breached conclusively, will act as ur sl
the bottom line is, the more we trade reasonably, the more we are successful
if u dont see a reason, just ask why this call is given, u should understand what is the risk of that trade and u should satiffy urself whether u r capable of risking that much or not
ask hundred time "what if????""
satisfy ur inner-self by reasons, dont get carried away by profit prospect, always think about risk involved
i myself, can say, that i never trade enthusiastically, i always trade reluctantly, bcoz i try to have a clear idea of what i can risk and how much i can risk
stock market is like a living picture of life for me. we have to be reasonable to survive,we cant try to be hero by adventuring in real life, thats equally true in stock market also
i will always have a second chance to trade a magnificent trade, but if i get killed in my 1st trade, there may be no tomorrow for me in this market
i am writing all these, wasting ur and my time, only to alert u bcoz the instruments u r using, are meant to be used by professionals only
u should be very careful with f/o segment. u should have strict money management rules in place, and then money will follow u. u dont have to even think about money also. GOD"S WILLING. u will be flooded by money
just we need to be a lil carefull
that all
Casper,
Attaching chart of Ambuja a probable H&S pattern is it? if yes levels to trade, hope I am not irritating u!
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| Quote: | tvsmotors sell below 65????  |
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| i think tvs sell below 65? |
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