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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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Post: #76  Posted: Thu Sep 05, 2013 2:19 pm Post subject: |
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| amitagg wrote: | | thanks. what levels should be target. on both sides..[obvously thinks can change later on when the break do happen and even afterwards to modify hte targets/ SL] |
i dont know about tgts and all as off now the nexr level of resistance if we break on the upside is 5745. which is too far as off now.
Why not let somebody else carry a stock while it is going down and while it is passing through that period of preparation for an advance? You should have it only when it is ready to move.[/i] |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #77 Posted: Thu Sep 05, 2013 3:46 pm Post subject: |
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On a ligher note :
you said
" Livermore once said to me: “ I go long or short as close as I can to the danger point, and if the danger becomes real I close out and take a small loss-Wyckoff.”
how risky above can be.....since danger point may be the "next" and "next" support and resistance that what we "perceive and enter into trade"
this may be better as u said:
"Why not let somebody else carry a stock while it is going down and while it is passing through that period of preparation for an advance? You should have it only when it is ready to move."
hence, for example, it is close to MY danger zone 5650-5680 and in range average trading is to be done, i wish to sell at 5625-5675, so risk reward shall be 1:1 - is downside is 5550 and upside 5775....it there any rationale in this thinking... ...i guess NO...since right way may be as you are saying break of 5560 low? - again i know its your system, average potential, profit target points, way of trading, most important time period for holding or realising profit potential etc....
all i can say that "trend or direction [again depending upon time horizon] is important, and since it is UP< i should not trade and sell at 5625-5675 UNTIL UNTIL those period charts/ bars / system confirms the same....
thanks |
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #78 Posted: Fri Sep 06, 2013 5:41 pm Post subject: |
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Dear Admin,
Kindly close this thread. I have nothing more to add.
Regards,
S |
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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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| Post: #79 Posted: Sat Sep 07, 2013 6:43 am Post subject: |
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Dear Sherbaaz grt to know that someome who is an admirer of Sam is here on this board.Looking forward to more posts from you,
regards |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #80 Posted: Sat Sep 07, 2013 1:49 pm Post subject: |
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sam? 
once upon a time there was a "sam" on icharts who stopped posting due to too much of interference from others on his thread! |
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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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| Post: #81 Posted: Sat Sep 07, 2013 2:32 pm Post subject: |
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Vinay,I'm not talking about our dear Psalm but Sam Seiden
Regds from the OTA |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #82 Posted: Sun Sep 08, 2013 4:52 am Post subject: |
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| Sherbaaz, i am newcomer to icharts and am seeing that too much questioning etc. may be a hindrance [rightful] to thread owner. I missed this protocol. Pls do continue posting and accept this from a down to earth person who is just looking to get all concepts and trade mentatlity right. |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #83 Posted: Sun Sep 08, 2013 2:04 pm Post subject: |
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| sherbaaz wrote: | Dear Admin,
Kindly close this thread. I have nothing more to add.
Regards,
S |
Hi
Why you want to close this thread.
Feeling very sad.
We all are finding your posts and charts in particular, very useful for our technical study.
Please keep continue posting your views and charts.
Thanks |
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