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SwingTrader
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Post: #271  Posted: Fri Aug 27, 2010 12:05 pm Post subject: |
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| maooliservice wrote: | | thank u very much for ur prompt reply.I m very much new to this charts.so pls tel me how to set 89EMA and also let me know standard TA settings for good results namely TF,EMA ,MACD ,STC etc |
In JCharts, to set 89 EMA just click one of the EMA buttons to enable the moving average. Then change the parameter in the parameter box next to the button to 89 and press ENTER key. Save preferences to make the settings permanent.
There are no good or bad settings. Place a couple of EMAs on the chart - I always have 34 & 89 - place an additional trend indicator if you wish (but it is not necessary) like MACD or DMI. Place an oscillator like RSI or STS or CCI. Now just keep looking at charts using these settings. Over time these settings that you use will "become" good.....or rather...your mind will know intuitively the probabilities of what might happen if you see something interesting in your indicators. There are no shortcuts.
Look at strategies forum - especially the NVK setup & Speculator's swing trading strategy. There are no magic indicators in those strategies. The real magic is in the consistency of application of the exact same trading rules each and every time for each and every trade.
Once you can do this consistently for your own set of trading rules, you will be able to reap the profits that are possible based on the probabilities associated with your trading method.
CONSISTENCY IS THE KEY, INDICATORS DON'T MATTER. ANY DECENT SET OF INDICATORS WILL DO.
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maooliservice
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| Post: #272 Posted: Fri Aug 27, 2010 12:11 pm Post subject: |
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| thanks again.what time frame should be kept and how to set 89ema high and 89ema low. |
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SwingTrader
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| Post: #273 Posted: Fri Aug 27, 2010 12:18 pm Post subject: |
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| maooliservice wrote: | | thanks again.what time frame should be kept and how to set 89ema high and 89ema low. |
Timeframe selection depends on two things 1. how much risk you can take 2. how long do you want to keep your position open.
On smaller timeframes your stops are going to be nearer but these will get hit often. On larger timeframes your stops are far but may not get hit often. Striking a balance between the two is important.
If you are an intraday only trader then anything beyond 15 mins will not give you enough time to enter & exit or if the daily range of the scrip is too less. Start with 5 mins and then move up in timeframe or down depending on what you see there....in terms of how far the stop is or if you are getting out quickly everytime etc.
If you are a swing trader then you might want to look at 30/60 mins charts together with daily.
EMAs of high/low are not available in JCharts. Please use "Live Charts" for it (but note that they update every 1 min only).
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maooliservice
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| Post: #274 Posted: Fri Aug 27, 2010 12:19 pm Post subject: |
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| as per ur suggestion i hav set ema 34 & 89 on jchart premium with 5minutes time frame but ema lines r not visible pls let me know what is wrong |
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SwingTrader
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| Post: #275 Posted: Fri Aug 27, 2010 1:08 pm Post subject: |
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| maooliservice wrote: | | as per ur suggestion i hav set ema 34 & 89 on jchart premium with 5minutes time frame but ema lines r not visible pls let me know what is wrong |
You might have to increase the number of days of data loaded in the charts. Also before that, make sure you have PRESSED / ENABLED the EMA1 & EMA2 buttons.
To increase the number of days of data in the charts, please follow instructions given here: http://www.icharts.in/education/icharts-help/jcharts---how-to-increase-the-number-of-days-of-data-shown.html
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| Post: #276 Posted: Fri Aug 27, 2010 1:15 pm Post subject: |
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The strong bullish bias that was there is now not that strong. If the stats get more neutral as it happened yesterday afternoon, this rally might fizzle.
In any case a breakdown below LOC is anyway going to be bearish.
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| Post: #277 Posted: Fri Aug 27, 2010 1:45 pm Post subject: |
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Market stats neutral now...this can go anywhere...the near trend is down until price breaks above LOC & 89 EMA. Price is below LOC at the moment so it is bearish.
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| Post: #278 Posted: Fri Aug 27, 2010 3:03 pm Post subject: |
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The long NF trade didn't work out that well but short worked out quite nice  The consolidation below LOC gave a convenient entry. Out of NF short now.
There is one key entry I take using fib & levels. I will try and post an example as today was a good example. This entry is valid only when bull & bear are relatively far from loc (this tough depends on one's judgement) and price opens either between bull & loc or bear & loc.
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| Post: #279 Posted: Fri Aug 27, 2010 3:34 pm Post subject: |
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Good short trade....especially for those who trailed the SL. For me I keep booking profits as the trade goes on due to big position size...don't have the stomach to ride out using a trailing SL for the whole position 
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girishhu1
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| Post: #280 Posted: Sat Aug 28, 2010 11:56 am Post subject: |
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hi st,
what is the significance of high,89 & low,89 ema? how do we use them in trading? |
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singh.ravee
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| Post: #281 Posted: Sat Aug 28, 2010 6:40 pm Post subject: how to use |
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Dear Sir,
I started learning about charts around a year back. I feel convenient with candlestick charts. I see daily/weekly/monthly charts. I am bit confused now. I dont know how to utilise information provided by the charts in the real market. I fail to understand out of 5 stocks in which should i invest and that too for how long. Eg. I bought india infoline@ 97.8 for the tgt of 115. The stock returned from the high of 110 and is now trading at 95. Kindly guide me as to how to trade in the market. It would be nice on your part.
rgds
Ravinder Singh
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| Post: #282 Posted: Sun Aug 29, 2010 9:24 am Post subject: |
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| girishhu1 wrote: | hi st,
what is the significance of high,89 & low,89 ema? how do we use them in trading? |
Below I was just replying to a query by a user about 89 EMA of high/low. I do not use those in my trading so I might not be able to tell you much about it.
5 or 8 EMA of high/low have been used as trailing stop loss before, I have used it too.
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| Post: #283 Posted: Sun Aug 29, 2010 9:33 am Post subject: Re: how to use |
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| singh.ravee wrote: | Dear Sir,
I started learning about charts around a year back. I feel convenient with candlestick charts. I see daily/weekly/monthly charts. I am bit confused now. I dont know how to utilise information provided by the charts in the real market. I fail to understand out of 5 stocks in which should i invest and that too for how long. Eg. I bought india infoline@ 97.8 for the tgt of 115. The stock returned from the high of 110 and is now trading at 95. Kindly guide me as to how to trade in the market. It would be nice on your part.
rgds
Ravinder Singh
Ludhiana |
Stocks to invest/trade in have to be selected based on some criteria that indicates an opportunity in those stocks. Now which criteria to use is a big topic, you might want to look at our "Strategies" forum for it.
When to get out of a stock is important. You might want to look at some kind of initial stop loss & trailing stop loss strategy. When you enter a trade, make sure you know at what point you will get out of it if the position turns into a loss making one. This would be your initial stop loss level. If your position turns profitable you need a way to trail your stop loss (move your stop loss higher with your stock...if you are long). For this there are many strategies:
1. Placing the stop loss below previous swing pivots. The disadvantage here is that everybody knows where you stop loss is.
2. Trail your stop loss below EMAs of high/low...example: 5 or 8 EMA of high/low price. The disadvantage here is that your stop will trail fine only if the stock stays in a decent trend. A significant sideways move can hit your SL. But this is not a bad way to do it.
3. Trail your stop loss below Donchian Channel (available in live charts...not available in jcharts). Donchian channels are channels of highest high & lowest low. This is more like placing stop loss above/below swing pivots. The disadvantage is similar to point no. 1.
4. Trail your stop loss using ATR (average true range). This is probably the best way to do it. Please google for info about this. There are lots of explanation/examples available for ATR based stops on the net.
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| Post: #284 Posted: Mon Aug 30, 2010 9:12 am Post subject: |
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NF hits R2. Now it is important for NF to remain above BULL level if it is to sustain this gap up / breakout.
As long as NF does not go below BULL, it is a buy on pullbacks with SL below BULL.
A breakdown below BULL would be a straight sell with SL above R1.
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