iCharts Discussions

[vkmkc]

[vinay28]

Dear Chirag

I have one doubt. In your original post on 55 sma, you had written "....unless a price do not close above 55 days sma high and next day do not go below close avg then he will initiate a buy.....". I think what you meant was "...when a price closes above 55 days sma high and next day does not go below 55 sma close, he will initiate a buy...". Also, is it that it should not close below 55 sma close on second day so that one buys on third day?

Please confirm. Also, please confirm that one should sell when price goes below SL during intraday and not in closing.

[Rahulsharmaat]

How do you set SMA 55 in JCharts [EOD].

Hope you would guide me through

=====================================

Click on upper Indicators,
select-- Simple Moving Average. Write High,55--- Close,55-----Low,55

in 3 boxes below-- as 1--2--3 and click on refresh-- it will come

[vkmkc]

[vkmkc]

[acharyams]

day 1 --close above 55 high sma - NO TRADING THAT DAY
day 2-again CLOSE above 55 highsma- ONLY THEN INITIATE LONG

otherwise, if it does not CLOSE ABOVE 55 high sma NO LONG i.e consecutive 2 days' CLOSE ABOVE 55 HIGH SMA is required to initiate long position.

Am I right, Sir?

[chiragbvyas]

oho ho ho

friends are too much confused in a totally simple thing.

1. in charts (premium) you can set high,low and close 55 sma

2. to find the scripts near breakout in jcharts (eod) select sma 55 it shows only close sma 55, but if a script's close price is around close sma 55 then it would be easy to find out scripts in jcharts (eod) rather than in charts (premium).

3. only two conditions to remember.

(A) if a script closes above 55 high sma then it is recommended to buy.the condition is it must not go below close sma of 55. that means very first day after break out we can not trust that it will go upward so safety wall (stop loss) is 55 close sma. if this condition fulfilled next day then initiate buy. if it happens then stay in that trade and your ultimate stop loss is low sma of 55. coz very first day of breakout if in intra correction it goes below 55 close sma then it is possible that yesterday's gain could be wipe out and from that day it can go down very firmly.

(B) if a script closes below 55 day close sma it is recommended to sell.
the condition is it must no go above 55 close sma. and yr ultimate stop loss is 55 days high sma. until and unless it do not close above it dont close your shorts.

if any confusions or doubt you are welcome.

[ronypan]

thanks buddy

[chiragbvyas]

if u wish u can set 55 days low sma as yr stop loss, next day of break out for long trade.

and for short sell trade u can set 55 day high sam as yr stop loss. it is very much safe.

[ronypan]

these days few technical firms are providing this method in learning material..

[chiragbvyas]

Mr. ronypan

I do not have any charting software, plus never attended any technical seminars, even avoided free seminars too. we are using this system since last four years and developed in microsoft excel 2003. when i come to know about icharts.in i use charts (premium) and jcharts (eod). i have never drawn a trendline also not use pivot or any other indicators given here.

so i do not have any idea who teaches what and what not. i just use this 55 days sma high low and close, and i can proudly admit that it has been proved profitable always when used with proper and maintained stop loss.

[vkmkc]

[adsingh101]

Dear Chirag,
Can u pls tell me that in LIChsgfin where should i make entry for short tomorrow and what should be my stop loss. kindly guide.

[Rahulsharmaat]

LIC Future 55 SMA close is 223-- so if it dosent go above this tommorow-- then Short can be taken with 55 SMA high as SL

[ronypan]

Thats absolutely true.. I have seen few ppl who hv made big portfolio with same kind of method.. but they r very strict with SL.... I think with this method huge money can be made but principles must be strict...

by d way thanks for revealing d method..