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How to trade using iCharts Levels - C T Ramesh Raja Method |
sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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Post: #31  Posted: Fri Jul 06, 2012 10:20 am Post subject: |
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| umesh1 wrote: | | sumesh_sol wrote: | | sumesh_sol wrote: | | Bought half @ near bear level, rest half kept @ bear-10 |
SL trgrd.. |
Dear Sumesh
Did you enter short as per RR method?
regards |
I have kept a short below low of candle which broke (bear-20) wala SL. I will short one more @bear level, if it retraces.
Since I donot know where to keep my SL in such reversal case I will keep @ LOC level. I sincerely request Ramesh sir to educate us on this..regards, |
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bharatpatel
White Belt
Joined: 26 Oct 2011
Posts: 397
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| Post: #32 Posted: Fri Jul 06, 2012 11:11 am Post subject: hi |
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Dear Sumesh,
What about today's trade?
entry and sar ?
taken entry either side ?
pls do post.
bharat |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #33 Posted: Fri Jul 06, 2012 11:19 am Post subject: Re: hi |
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| bharatpatel wrote: | Dear Sumesh,
What about today's trade?
entry and sar ?
taken entry either side ?
pls do post.
bharat |
In morning I bought 1lot @bear level, then 1 more @bear-10. Both were stopped out @ bear-20 (5293).
Then I shorted below 5293. Now the question here is where to keep SL & profit booking. First I thought of keeping SL @LOC, but as it would be a big SL, so now I'm keeping SL @bear level. Also, if price retraces I will short one more @bear-10 level.
If nifty move down, I'll try to cover at a point where I'm break even, as I donot know how we should trail here..
regards,
Sumesh |
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bharatpatel
White Belt
Joined: 26 Oct 2011
Posts: 397
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| Post: #34 Posted: Fri Jul 06, 2012 11:28 am Post subject: Re: hi |
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| sumesh_sol wrote: | | bharatpatel wrote: | Dear Sumesh,
What about today's trade?
entry and sar ?
taken entry either side ?
pls do post.
bharat |
In morning I bought 1lot @bear level, then 1 more @bear-10. Both were stopped out @ bear-20 (5293).
Then I shorted below 5293. Now the question here is where to keep SL & profit booking. First I thought of keeping SL @LOC, but as it would be a big SL, so now I'm keeping SL @bear level. Also, if price retraces I will short one more @bear-10 level.
If nifty move down, I'll try to cover at a point where I'm break even, as I donot know how we should trail here..
regards,
Sumesh |
Dear R R Sir,
pls post the entire set up, we are confused how to use this system?
or suggest what to do in this kind of situations ?
i think this one is nice set up for intra play. need yr help.
regards |
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Mungerilal
White Belt
Joined: 19 Apr 2012
Posts: 27
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| Post: #35 Posted: Fri Jul 06, 2012 11:50 am Post subject: Re: hi |
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Sumesh Bhai. Per my understanding of method and as per archives ..if bear-20 is hit then we need to wait till retracement near. The bear level with LOC as SAR
| sumesh_sol wrote: | | bharatpatel wrote: | Dear Sumesh,
What about today's trade?
entry and sar ?
taken entry either side ?
pls do post.
bharat |
In morning I bought 1lot @bear level, then 1 more @bear-10. Both were stopped out @ bear-20 (5293).
Then I shorted below 5293. Now the question here is where to keep SL & profit booking. First I thought of keeping SL @LOC, but as it would be a big SL, so now I'm keeping SL @bear level. Also, if price retraces I will short one more @bear-10 level.
If nifty move down, I'll try to cover at a point where I'm break even, as I donot know how we should trail here..
regards,
Sumesh |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #36 Posted: Fri Jul 06, 2012 11:54 am Post subject: Re: hi |
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[quote="Mungerilal"]Sumesh Bhai. Per my understanding of method and as per archives ..if bear-20 is hit then we need to wait till retracement near. The bear level with LOC as SAR
quote]
Even I had the same understanding, but y'day RR sir asked me to reverse my position immediately after bear-20 SL was take out (in asian paint), so I did same in nf also today. Now my SL is one point above bear level. I will again reverse(on long side), if it crosses LOC.. Let's see..
regards, |
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jyothil
White Belt
Joined: 26 Feb 2009
Posts: 299
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| Post: #37 Posted: Fri Jul 06, 2012 11:57 am Post subject: |
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| sumesh_sol wrote: | | sumesh_sol wrote: | | Bought half @ near bear level, rest half kept @ bear-10 |
SL trgrd.. |
Sir,
Pls mention the Bull level, LOC, SAR and bear level
G.Jyothi |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #38 Posted: Fri Jul 06, 2012 12:03 pm Post subject: |
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| jyothil wrote: | | sumesh_sol wrote: | | sumesh_sol wrote: | | Bought half @ near bear level, rest half kept @ bear-10 |
SL trgrd.. |
Sir,
Pls mention the Bull level, LOC, SAR and bear level
G.Jyothi |
If you are subscribed to icharts Then you can see them just below chart window.. |
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umesh1
Brown Belt
Joined: 24 Nov 2008
Posts: 1974
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| Post: #39 Posted: Fri Jul 06, 2012 2:26 pm Post subject: |
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Dear RR Sir
Please post complete strategy for the benefit of all
Cheers |
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pavan29
Green Belt
Joined: 26 Jun 2012
Posts: 1047
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| Post: #40 Posted: Fri Jul 06, 2012 5:16 pm Post subject: Re: How to trade using iCharts Levels - C T Ramesh Raja Meth |
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Ramesh...How to get the Ichart levels as you mentioned below?
| SwingTrader wrote: | For Nifty Trading:
Following is the Strategy:
1. Short Nifty 10 points above BULL level. Stop will be 20 points from Bull level.
2. If it crosses 20 points from BULL level it should rock on upside.
3. Buy Nifty 10 points below BEAR Level. Stop will be 20 points from Bear Level.
4. After crossing 20 points above BULL Level and subsequently if it pierces LOC, then Nifty will crash land.
5. After breaching 20 points below BEAR Level and subsequently if it crosses LOC, then it will moveup with momentum.
How do you takeup trades with the above strategy:
1.When you short 10points above BULL Level, then 20th point from BULL Level will become SLR.. and now your TGTS are LOC and BEAR Level
2. When you long 10 points below Bear Level, then 20th point from BEAR Level will become SLR..and now your TGTS are LOC and BULL Level.
You understand upto this point clearly, then I will tell you how to takeup SLR trade and explain you, how powerful is LOC level after Nifty crossing 20 points from either BULL or BEAR Level.
whatever I have explained now, first you backtest icharts levels with charts and revert to me.
For Nifty its 20 points play a vital role and for stocks its different figures taking into account value of stocks.
Best Wishes
C T RAMESH RAJA |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #41 Posted: Fri Jul 06, 2012 9:36 pm Post subject: Re: hi |
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[quote="sumesh_sol"] | Mungerilal wrote: | Sumesh Bhai. Per my understanding of method and as per archives ..if bear-20 is hit then we need to wait till retracement near. The bear level with LOC as SAR
quote]
Even I had the same understanding, but y'day RR sir asked me to reverse my position immediately after bear-20 SL was take out (in asian paint), so I did same in nf also today. Now my SL is one point above bear level. I will again reverse(on long side), if it crosses LOC.. Let's see..
regards, |
Sumesh Hi,
Since you are trading since yesterday, as per the mentioned method, wht was ur overall profit/loss points in 2 days?
Chetan. |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #42 Posted: Fri Jul 06, 2012 9:54 pm Post subject: Re: hi |
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| chetan83 wrote: |
Sumesh Hi,
Since you are trading since yesterday, as per the mentioned method, wht was ur overall profit/loss points in 2 days?
Chetan. |
Chetan, Y'day was very good and today I got hit my SL, but I'm sure it was due to my own fault of not understanding of system fully. I guess we can't blindly short/long just by numbers, understanding trend also helps, like today I went long at bear and bear-10 levels, that was OK, but I shouldn't have immediately reversed my position at SL hit , as nifty was not very weak, it was constantly getting support at lower trendline. Had I waited for short at retrace at bear level with SL@ LOC, I could have been Net gainer.
Anyways, I'm desperately waiting for Ramesh sir to enlighten us on reversal trades.
regards,
Sumesh |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #43 Posted: Mon Jul 09, 2012 9:59 am Post subject: |
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Asian Paint: Has already cleared bear-20 level . now trying to come back. Kept a buy order above LOC @3714 with SL @bear level..
Let's see..
PS: Still waiting for ramesh sir's guidance on trading reversal trades. We are trying to use our judgement to best of our knowledge. However, expert guidance is must. Please help us sir..
regards, |
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sumesh_sol
Brown Belt
Joined: 06 Jun 2010
Posts: 2344
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| Post: #44 Posted: Mon Jul 09, 2012 10:14 am Post subject: |
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MARUTI..
Looking good to short below.. bear-20 (1190) |
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #45 Posted: Mon Jul 09, 2012 11:58 am Post subject: |
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| sumesh_sol wrote: | MARUTI..
Looking good to short below.. bear-20 (1190) |
20 points is for nifty not for each and every scrip. filter will differ from scrip to scrip. its not something mechanical which u can keep same for every scrip.
regds, |
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