iCharts Discussions

[chiragbvyas]

sharma ji, rk, and acdl, acharyams.

all in all i will say that whenever i got confused i end up my position. jet is a counter that is sensitive about ATF prices. it has been surrounding near 55 day sma since last 3 months. when we shorted jet on 20 june we though the down side like 12 jan and down side will like that. but if petrol prices are not hiked (matter of friday current market) then it may open much above my 55 days high sma so i was totally confused by it's bull run. normally we don't suppose anything in advance but on friday i just went against my trading plan i get out of trade. i thought if i have not booked 52 points of profit at least i should not end up with huge losses. one more thing i am much much much more confident of my this 55 days sma trading plan, and strongly believe that i will get another entry in a trade and will recover losses ( if it is there, or when ever it is there).

this is the most clear example of presuming some thing in advance. same day in the evening diesel price hike was there. if i were stick to my plan, may be i can have the good returns and a chance to short one more lot of jet but it's o k.

this is what we have to learn from markets and to watch how full proof our plan is.

acdl just trade accordingly. pls do not be in confusion. if you can handle and you think you have got valid entry in the trade then you can trade more then one scripts.

[Rahulsharmaat]

Chiraj Bhai--

I never said its failure of system-- I just said it was bad luck-- i just traded scripts which gave short or long with all other rules followed-- its just that they hit stop los-- i exited at stop loss without using my mind--

What i am trying to learn further is-- should i just focus on 2-3 scripts-- to long or to short when ever they give that chance-- or should i track new scripts also in this process.

As example-- Hero honda was long and is atmost 150 Rs up from buy rate .. so any short it gives i should trade --or i should see that what new scripts giving breakout either side

Please guide



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What i mean Chirag Bhai is-- i was Short in ITC-- exited at 55 sma High SL-- But iF i would have taken Long after that-- its in profit--

Same way i was short in LIC -- stop loss hit-- i exit-- But if i see another script now-- and lic gives long and i dont trade--i may miss that chance--

Same in ABB--stop loss hit-- 20 points-- Buy Buy mnay give 40 also

so i want to ask-- should we stick to few counters and trade them long as well as short--instead of searching many

Please guide

[chiragbvyas]

sharma ji,

you can track more than 1 script but basic funda is same for all the scripts. just like friday movement it can be count an exceptional move.

here also my ten trade rule is in place. count all your loss and deduct it from honda profit, may there be a little profit left or if there is loss then it will much covered by honda and now if u can have a valid entry in one or to trade and that shows u profit then i think you may have good profits. see we are taking chances whether that set up take our stop loss or not. if not then huge profit is possible. if taken stop loss then little loss we have to bare. nothing else.

[Rahulsharmaat]

Finally -- i will choose few scripts only and track them--
Hero Honda-
hdfc Bank
BPCL
LIC
ABB
BRFL

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Will watch close abb n Lic-- what trade they give now--


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Chirag bhai-- can u see nad tell about BRFL-- this too gave a short on thrusday and didnt cross 55 SMA close on friday runup also-- so i want to take a short on monday

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[Rahulsharmaat]

BRFL had 5 Month Bull run from 220-- to 290--

now after 5 months gave short call --with very small Stop loss Rs 3 SL-- thats 3000 only--

what u say chirag bhai

[Rahulsharmaat]

BRFL gave short in 2008 SEp at 330- n came to only 80 level---

[chiragbvyas]

brfl is not moving either side almost in 55 days sma range just like mid august to mid october if the high is lower than 55 sma low avg and do not cross 55 sma close avg then short. short as much as you can. but volumes are very low in this script. so be careful.

[Rahulsharmaat]

Chirag Bhai-- i didnt got your point ???/

please explain

[Rahulsharmaat]

if the high is lower than 55 sma low avg and do not cross 55 sma close avg then short. short as much as you can

It gave a short n didnt cross 55 SMA close on friday

[chiragbvyas]

correct. now maintain closing bass stoploss of 290 and short this counter.if close above 290 then cover yr short next day.

[Rahulsharmaat]

BRFL 55 SMA high is 289.10-- chirag Bhai ???

so why 290 ??? any reason

[acharyams]

[Rahulsharmaat]

I always track furure-- Chart is attached--u can see rates there

[chiragbvyas]

just to easily remember the figure i wrote 290.

[chrome]

hello author,

nifty spot has closed today above sma high 55 of 5595...closed 5 points above it...so is it a buy signal as ur strategy ??