iCharts Discussions

[vishytns]

Thanks manju.....

Well regarding ur question on cocktail....even i don't have an answer....even i don't drink... . By the way what is hangover?

Price is supreme....I see that even sherbaaz saying that in trading divergences thread....

Indicator? Is that really required? Will it yield anything...If yes any suggestions please...

regards
Vishy

[as4manju]

Wel i m not a expert in that space all i say is i dont use it but it doesnt mean it wont work...

u need to figure it out how u can use it n perfect it..

[vishytns]

Dear manju,
thanks for ur reply. If u donot mind,
How do u trade only based on price? Could u please explain the entry and exit criterias?
Any one trade example please?

all,
if any one is using the same strategy, please explain ur strategy as well.
Thanks for ur precious time.
Vishy

[sherbaaz]

[as4manju]

Hi vishytns,

I am attaching the two charts of Rel cap and Rel infra(both are as 7 feb 2011)..

If u observe both the charts u can see i ve used trend lines as a base for the study.. these are quite self explaining charts i ve marked circles for the entry points and my exits are based on the pattern which i enter the trade..

Lets take Relcap now during Nov in one of the post i mentioned that 840-790 is the levels to watch for and as per the pattern the tgt was a movement of close to 60 points how ever if see on the down side there was a good amount of support at 740-750 levels so my exit point was 750..

again the carnage continued and by nov end 750 was also taken out which again broke down a bigger range of 100 point so ur tgt would be around 650 so enter the stock fresh below 750 and exited close to 650 even though prices fell further..

Similar things repeated at 650 and 570 and 550 again...
The same thing applies for Rel infra as well.. so now were i ve used any indicators no moving avg these are all just simple line studies.. its just trading the price ranges and patterns nothing else..

These are not just post mortem analysis but the same calls were also posted in my thread as well u can check it..

Regards
Manju

[as4manju]

Well Its not very surprising that people dont buy when they are asked to buy or when the time is right i guess thats the investor mindset.. investors and traders get rest less when the mkt start rallying and they feel being missed out...

I was one of the guy from this forum screeming my lungs out saying to buy and not forget Viru sir had a bigger list than mine (in one post telling u that 5390 below which tgt would be 5350-5220 but defenitly i would use that fall to buy and a list was provided and also mentioned that think beyond intraday) but in last few days i ve seen panic in minds of people whom i ve interacted they feel they ve missed something..

Guys patience is one of the major contributer in sucessfull trading.. If u see how lions and tigers hunt its all about stealth and wait for the opportunity.. the same way a sucessful trader should also wait for his time..

Prices go up and down does not mean u ve to trade every time.. dont be a impulsive trader..

I ve seen in my own trading as well when ever i ve traded desperately trying to make money, entering the middle of the trend, trading because mkts are up 300 points and i ve not made anything 99.9% of those trades i ve lost big time..
This wat yesterday veeru sir also mentioned..

Comments from others also welcome is it true with them also or is it just me...

Regards
Manju

[capsi]

hi manju

yes u r 100% right...... its like catching a running train or bus, most of the time we know what happens...