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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: #1786  Posted: Wed Feb 09, 2011 1:45 pm Post subject: |
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| ali522003 wrote: | | sumesh bhai look at bharti,, i didnt traded though.. but did paper trade ,, |
sumesh bhai stopped u only for ur benefit bhai, bharti, in our method, was not a set up, its matter of luck that its going down, why will we trade without getting confirmation from indicator? dont u think that it wud be shooting on a dumb while ur eyes are blindfolded?
plz dont take unnecessary risk in the market. that why me also stooped mr.esnmurty on day before yesterday from entering finantech near its monthly piv, but it went up, that was luck, but in theory we are right naa?
why should we venture like a gambler in the market?
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1787 Posted: Wed Feb 09, 2011 1:49 pm Post subject: |
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| sumesh_sol wrote: | | ali522003 wrote: | | sumesh bhai look at bharti,, i didnt traded though.. but did paper trade ,, |
Ali , yes it worked... 
But I play only those setups for which I'm totally convinced... If market doesn't support overall sentiment then I may hit my SL but 8 out of 10 times I would like to hit my targets....
Good that u & Murty r also coming up with patterns.. In fact I urge each and everyone out here to explore and find out setups regularly.... |
sumesh bhai i was thinking that it would be good today if we go short of reddy and long on tatapower... both did well in opposite directions... i think we should remove our orders now 
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1788 Posted: Wed Feb 09, 2011 1:50 pm Post subject: Tatapower 60tf |
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Tatapower 60tf
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Morning we were waiting for it to breakdown. With time it changed the pattern beautifully and now Tatapower may take a BO on upper side in 60tf ( from C&H pattern)...
however, I would like to take opinion from Casper in this . I'm never sure in such formation..
-Sumesh
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1789 Posted: Wed Feb 09, 2011 1:53 pm Post subject: |
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| ali522003 wrote: | | sumesh_sol wrote: | | ali522003 wrote: | | sumesh bhai look at bharti,, i didnt traded though.. but did paper trade ,, |
Ali , yes it worked...
But I play only those setups for which I'm totally convinced... If market doesn't support overall sentiment then I may hit my SL but 8 out of 10 times I would like to hit my targets....
Good that u & Murty r also coming up with patterns.. In fact I urge each and everyone out here to explore and find out setups regularly.... |
sumesh bhai i was thinking that it would be good today if we go short of reddy and long on tatapower... both did well in opposite directions... i think we should remove our orders now |
Ali, did you see how strongly Drreddy came back.. I have still kept my order for long it this...
Tatapower, yes I have now put a long above 1212...(just mentioned in previous post)
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casper
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1791 Posted: Wed Feb 09, 2011 2:24 pm Post subject: |
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| sumesh bhai dr. saab aa gaye
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1792 Posted: Wed Feb 09, 2011 2:27 pm Post subject: |
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| ali522003 wrote: | | sumesh bhai dr. saab aa gaye |
I also bought it..
If I dont get my tgt or Sl(close below 1515 on hourly - which is low of BB), I will carry it...
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1793 Posted: Wed Feb 09, 2011 2:56 pm Post subject: |
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sumesh bhai ,, reddy falling sharply.. are u holding,, i m still hoding it.. waiting for a upmove,, 
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1794 Posted: Wed Feb 09, 2011 3:03 pm Post subject: |
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| ali522003 wrote: | | sumesh bhai ,, reddy falling sharply.. are u holding,, i m still hoding it.. waiting for a upmove,, |
For a trader, it is extremely important to maintain a sea like calmness while executing his/her trades... Once you take a trade , decide upon Tgt /SL , stick to them...
I have decided for breach of low of BB in 60 tf.. whatever is the value that time , I will exit....
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1795 Posted: Wed Feb 09, 2011 3:05 pm Post subject: |
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| sumesh_sol wrote: | | ali522003 wrote: | | sumesh bhai ,, reddy falling sharply.. are u holding,, i m still hoding it.. waiting for a upmove,, |
For a trader, it is extremely important to maintain a sea like calmness while executing his/her trades... Once you take a trade , decide upon Tgt /SL , stick to them...
I have decided for breach of low of BB in 60 tf.. whatever is the value that time , I will exit.... |
ok bhai will follow you.. tatapower also came at 1212.. wat should be the tgt
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1796 Posted: Wed Feb 09, 2011 3:08 pm Post subject: |
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| ali522003 wrote: | | sumesh_sol wrote: | | ali522003 wrote: | | sumesh bhai ,, reddy falling sharply.. are u holding,, i m still hoding it.. waiting for a upmove,, |
For a trader, it is extremely important to maintain a sea like calmness while executing his/her trades... Once you take a trade , decide upon Tgt /SL , stick to them...
I have decided for breach of low of BB in 60 tf.. whatever is the value that time , I will exit.... |
ok bhai will follow you.. tatapower also came at 1212.. wat should be the tgt |
I feel initial tgt could be 1240. Once it take it out then may be 1300.. (delivery)
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Ravi_S
Yellow Belt
Joined: 15 Jun 2009
Posts: 569
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| Post: #1797 Posted: Wed Feb 09, 2011 3:19 pm Post subject: Re: Infy DT |
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Amidst all the strom, Infy is moving up like a PSLV rocket...  But me unfortunately closed the trade for a meagre 7Rs profit ...
| Ravi_S wrote: | Descending Triangle in Infy... Maybe one can trade this if it breaks 3108... Infy is too volatile today...
60 mins chart attached... |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1798 Posted: Wed Feb 09, 2011 3:22 pm Post subject: |
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| sumesh_sol wrote: | | ali522003 wrote: | | sumesh bhai ,, reddy falling sharply.. are u holding,, i m still hoding it.. waiting for a upmove,, |
For a trader, it is extremely important to maintain a sea like calmness while executing his/her trades... Once you take a trade , decide upon Tgt /SL , stick to them...
I have decided for breach of low of BB in 60 tf.. whatever is the value that time , I will exit.... |
I exited at *1510* after seeing BB breaking down ....
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ali522003
White Belt
Joined: 03 Jul 2010
Posts: 217
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| Post: #1799 Posted: Wed Feb 09, 2011 3:28 pm Post subject: |
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| sumesh_sol wrote: | | sumesh_sol wrote: | | ali522003 wrote: | | sumesh bhai ,, reddy falling sharply.. are u holding,, i m still hoding it.. waiting for a upmove,, |
For a trader, it is extremely important to maintain a sea like calmness while executing his/her trades... Once you take a trade , decide upon Tgt /SL , stick to them...
I have decided for breach of low of BB in 60 tf.. whatever is the value that time , I will exit.... |
I exited at *1510* after seeing BB breaking down .... |
i m carrying tatapower and dr reddy both.. will try to cut tomorrow.. wat should be the stop of reddy, sumesh bhai..
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #1800 Posted: Wed Feb 09, 2011 4:03 pm Post subject: |
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| ali522003 wrote: | | sumesh_sol wrote: | | sumesh_sol wrote: | | ali522003 wrote: | | sumesh bhai ,, reddy falling sharply.. are u holding,, i m still hoding it.. waiting for a upmove,, |
For a trader, it is extremely important to maintain a sea like calmness while executing his/her trades... Once you take a trade , decide upon Tgt /SL , stick to them...
I have decided for breach of low of BB in 60 tf.. whatever is the value that time , I will exit.... |
I exited at *1510* after seeing BB breaking down .... |
i m carrying tatapower and dr reddy both.. will try to cut tomorrow.. wat should be the stop of reddy, sumesh bhai.. |
This is what frustrate us....
Ali bhai, please try to understand, there is logic behind every trade you take and since you were following my trade, you should have followed my SL also..... !!!
Hope & Prayers have no place in trading world, one should be disciplined while doing any trade... EGO of not accepting a loss is "the biggest" factor in men's failure in trading... New people (and I'm not excluded) generally trade for a sense of winning , pride and when they see thier position going against their will they just behave like Ostrich...
Now this message is not just for you, it is a reminder for every person doing short term trading in this cruel world of stock market.
Drreddy is now looking very weak, if tomorrow mkt gives you some chance to minimise your loss then use that or else just come out.. On EOD chart also it has not taken support at 200 SMA. With my limited TA I can say "please book your loss now". I would be happy if anyone else can throw some more light on this....
Tatapower is going strong and seems it will break HnS which I mentioned in yesrterday's post also.. so watch out for 1240 level, if it crosses convincingly then 1300 is also achievable...
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