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Gann Channels |
opportunist
White Belt
Joined: 27 Apr 2010
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Post: #1  Posted: Wed Sep 21, 2011 8:56 am Post subject: Gann Channels |
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No comments due to :
a) lack of analysis time
b) a picture speaks thousand words
More to come. Keep watching 
Opportunist |
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umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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| Post: #2 Posted: Wed Sep 21, 2011 9:04 am Post subject: Drawing competition |
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| You rightly said picture speaks thousand words with nothing clear of future on historical charts you can only decorate with indicators.you should take part in Rangoli competition may be you will win there,so many indicators not required for trading in mkt |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #3 Posted: Wed Sep 21, 2011 9:13 am Post subject: |
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| Suzlon loaded. |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #4 Posted: Wed Sep 21, 2011 9:26 am Post subject: Re: Drawing competition |
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| umesh1 wrote: | | You rightly said picture speaks thousand words with nothing clear of future on historical charts you can only decorate with indicators.you should take part in Rangoli competition may be you will win there,so many indicators not required for trading in mkt |
Umesh, focus only on Gann channels not the indicators. If you cant do that get your eyes and also head checked. |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #5 Posted: Wed Sep 21, 2011 10:10 am Post subject: |
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Nifty.
Observation: Whenever diagonals are broken a major price move happens |
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udit101
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Joined: 11 Jun 2010
Posts: 16
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| Post: #6 Posted: Wed Sep 21, 2011 10:31 am Post subject: |
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opportunist
sirji
can u plzzzzz explain how did u draw horizontal , vertical and diagonal lines |
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umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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| Post: #7 Posted: Wed Sep 21, 2011 10:35 am Post subject: X and 0 channels |
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| if you remove indicators and draw less diagonals it will appear better,just two crossovers of 5 and 8 give better results than 50 indicators and playing X and 0 in the diagonals ,seems you are straining too much but achieving less than efforts |
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umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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| Post: #8 Posted: Wed Sep 21, 2011 10:38 am Post subject: |
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| use gann fan on other platforms will give all your diagonals in one click,save time and efforts achieve target with less effort all the best |
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udit101
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Joined: 11 Jun 2010
Posts: 16
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| Post: #9 Posted: Wed Sep 21, 2011 11:16 am Post subject: |
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| umesh ji will u plz explain wat u said and how to draw lines |
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udit101
White Belt
Joined: 11 Jun 2010
Posts: 16
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| Post: #10 Posted: Wed Sep 21, 2011 11:22 am Post subject: |
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| umesh ji plz help me |
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umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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| Post: #11 Posted: Wed Sep 21, 2011 11:23 am Post subject: |
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Dear Uditji
if you are a beginner the best strategy for you is to use crossovers of ema 5 and 8 on 20 min time frame for intraday and for positional 1-2 day hourly is best you can back test to confirm and do in small small qtys ,never avg your loss trades,but profits can be avged with confirmation,just follow for few days and post ur feedback
Regards
Umesh |
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udit101
White Belt
Joined: 11 Jun 2010
Posts: 16
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| Post: #12 Posted: Wed Sep 21, 2011 11:38 am Post subject: |
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umesh ji
i am trying my luck from last 2 years in nifty but not yet in profit. Tried ema's also. I want to learn from u how u trade. No indicator is true everytime so that create confusions . |
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umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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| Post: #13 Posted: Wed Sep 21, 2011 5:29 pm Post subject: |
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Dear Uditji
the more you get into indicators the more you will confuse yourself as none of the indicators work all by itself,hitting stoploss is not loosing but stoping your loss so as your next entry is wise,if you hit 3 sl in a day stop trading and analysis your trades why you entered and what were sl and tgt,dont trade at any time any level,trade only near levels so as stoploss is closer than tgt.its not easy to be disciplined in trading,sometimes not to trade also earns by not loosing in compulsive trading
Regards
UmeshJ |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #14 Posted: Wed Sep 21, 2011 6:46 pm Post subject: |
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| udit101 wrote: | umesh ji
i am trying my luck from last 2 years in nifty but not yet in profit. Tried ema's also. I want to learn from u how u trade. No indicator is true everytime so that create confusions . |
Udit,
If you are "trying your luck" better go to a casino. At least you will be assured of more entertainment for losing money  . Please understand that share market is not a casino. Either you know how to trade or you don't.
Since you have survived for two years it means that you have the economic backing as well inclination for this field. My advise is that you should buy/download some good books on Technical Analysis (TA) and trading and learn TA well. After learning you may try some paper trading first and then real trading till you are confident of using Technical Analysis.
My only submission is that if you do not know how you are going to make money and are relying solely on the whims and fancies of the market then it is just gambling and you will soon be left with nothing to bet with.
Regarding EMA method try this simple rule: use 3 EMA and 15 EMA on 5 minute chart. When 3 EMA crosses 15 EMA from below, buy and when it crosses from above, sell.
Exit target: For long position exit when Stochastic crosses 80 (Safer would be 78 ) For short position exit when Stochastic crosses 20 (Safer would be 18 )
Regards,
Oppo |
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opportunist
White Belt
Joined: 27 Apr 2010
Posts: 356
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| Post: #15 Posted: Fri Sep 23, 2011 9:31 pm Post subject: |
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Nifty last 3 days in 5 TF. The figures is self explanatory. People can find the obvious breakout points vis-a-vis the channels.
Remember it is not Gann Fan... it is Gann Channel. Both are quite different though using same principle.
Regards,
Oppo |
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