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nj976
White Belt
Joined: 26 Apr 2013
Posts: 17
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Post: #16  Posted: Wed Mar 19, 2014 10:55 pm Post subject: |
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| rsrs wrote: | I know you are already short.
I think, trend traders won't be short yet.
If someone is long in LT, what according to you should be the SL? |
If someone is long on LT, I would recommend to maintain a stop loss of 1224, which is the gap up support of this stock. If this support is broken/breached then we can see further downside in the stock (till 1150 as target 1) other wise if the support is maintained then we can see the stock touching 1300 in the march series or much higher once it breaks the resistance of 1263.
Btw, you guessed it right, I have bought some put 1200 and I'm waiting for the stock to break 1224 or else I will cover my position. |
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rsrs
White Belt
Joined: 22 Oct 2010
Posts: 22
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| Post: #17 Posted: Wed Mar 19, 2014 11:40 pm Post subject: |
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| nj976 wrote: | | rsrs wrote: | I know you are already short.
I think, trend traders won't be short yet.
If someone is long in LT, what according to you should be the SL? |
If someone is long on LT, I would recommend to maintain a stop loss of 1224, which is the gap up support of this stock. If this support is broken/breached then we can see further downside in the stock (till 1150 as target 1) other wise if the support is maintained then we can see the stock touching 1300 in the march series or much higher once it breaks the resistance of 1263.
Btw, you guessed it right, I have bought some put 1200 and I'm waiting for the stock to break 1224 or else I will cover my position. |
My current TSL is 1179 on a closing basis.
Last edited by rsrs on Sun Mar 23, 2014 2:03 am; edited 1 time in total |
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nj976
White Belt
Joined: 26 Apr 2013
Posts: 17
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| Post: #18 Posted: Thu Mar 20, 2014 7:58 pm Post subject: |
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| rsrs wrote: | | nj976 wrote: | | rsrs wrote: | I know you are already short.
I think, trend traders won't be short yet.
If someone is long in LT, what according to you should be the SL? |
If someone is long on LT, I would recommend to maintain a stop loss of 1224, which is the gap up support of this stock. If this support is broken/breached then we can see further downside in the stock (till 1150 as target 1) other wise if the support is maintained then we can see the stock touching 1300 in the march series or much higher once it breaks the resistance of 1263.
Btw, you guessed it right, I have bought some put 1200 and I'm waiting for the stock to break 1224 or else I will cover my position. |
My current TSL is 1179 on a closing basis.
Here is how TSL progressed after 17th FEB which was the first entry signal.
TSL,DATE
1179, 20140319
1176, 20140318
1171, 20140314
1167, 20140313
1163, 20140312
1159, 20140311
1150, 20140310
1134, 20140307
1099, 20140306
1095, 20140305
1091, 20140304
1089, 20140303
1090, 20140228
1084, 20140226
1001, 20140225
996,20140224
989, 20140221
985,20140220
982, 20140219
979, 20140218
977, 20140217 |
I didn't understand the meaning of TSL and also the use of it. I would appreciate if you could explain it little more |
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rsrs
White Belt
Joined: 22 Oct 2010
Posts: 22
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| Post: #19 Posted: Thu Mar 20, 2014 8:16 pm Post subject: |
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| nj976 wrote: | | rsrs wrote: | | nj976 wrote: | | rsrs wrote: | I know you are already short.
I think, trend traders won't be short yet.
If someone is long in LT, what according to you should be the SL? |
If someone is long on LT, I would recommend to maintain a stop loss of 1224, which is the gap up support of this stock. If this support is broken/breached then we can see further downside in the stock (till 1150 as target 1) other wise if the support is maintained then we can see the stock touching 1300 in the march series or much higher once it breaks the resistance of 1263.
Btw, you guessed it right, I have bought some put 1200 and I'm waiting for the stock to break 1224 or else I will cover my position. |
My current TSL is 1179 on a closing basis.
Here is how TSL progressed after 17th FEB which was the first entry signal.
TSL,DATE
1179, 20140319
1176, 20140318
1171, 20140314
1167, 20140313
1163, 20140312
1159, 20140311
1150, 20140310
1134, 20140307
1099, 20140306
1095, 20140305
1091, 20140304
1089, 20140303
1090, 20140228
1084, 20140226
1001, 20140225
996,20140224
989, 20140221
985,20140220
982, 20140219
979, 20140218
977, 20140217 |
I didn't understand the meaning of TSL and also the use of it. I would appreciate if you could explain it little more |
TSL : Trailing Stop Loss
Entered trade on 17th.
Used 977 as SL on 18th
Improved it to 979 on 19th
982 on 20th
985 on 21st and so on. |
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nj976
White Belt
Joined: 26 Apr 2013
Posts: 17
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| Post: #20 Posted: Thu Mar 20, 2014 8:38 pm Post subject: |
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| I appreciate your explanation as it makes great sense. I must say you should be a black belt holder, valuable analysis, good work. According to your TSL 1179, if this target is breached then what would be your new target on the downside? |
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rsrs
White Belt
Joined: 22 Oct 2010
Posts: 22
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| Post: #21 Posted: Thu Mar 20, 2014 9:16 pm Post subject: |
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| nj976 wrote: | | I appreciate your explanation as it makes great sense. I must say you should be a black belt holder, valuable analysis, good work. According to your TSL 1179, if this target is breached then what would be your new target on the downside? |
1179 was for today.
For tomorrow it is around 1183.
No downside target. No short entry yet.
If you want to know a figure, it would be anywhere between 1000 and 1080.
Action / reaction generates new levels. It is too premature to say any figure exactly.
Moreover, should we care if our TSL takes care of our exits? |
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nj976
White Belt
Joined: 26 Apr 2013
Posts: 17
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| Post: #22 Posted: Sat Mar 22, 2014 6:18 pm Post subject: |
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| rsrs wrote: | | nj976 wrote: | | I appreciate your explanation as it makes great sense. I must say you should be a black belt holder, valuable analysis, good work. According to your TSL 1179, if this target is breached then what would be your new target on the downside? |
1179 was for today.
For tomorrow it is around 1183.
No downside target. No short entry yet.
If you want to know a figure, it would be anywhere between 1000 and 1080.
Action / reaction generates new levels. It is too premature to say any figure exactly.
Moreover, should we care if our TSL takes care of our exits? |
That is correct. I like the idea of using TSL for any kind of trade positions. Btw I would like to know that how would you calculate TSL on daily basis? is it any fixed percentage that you put as TSL or you do any other calculations for that? |
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rsrs
White Belt
Joined: 22 Oct 2010
Posts: 22
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| Post: #23 Posted: Sat Mar 22, 2014 8:05 pm Post subject: |
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| nj976 wrote: | | rsrs wrote: | | nj976 wrote: | | I appreciate your explanation as it makes great sense. I must say you should be a black belt holder, valuable analysis, good work. According to your TSL 1179, if this target is breached then what would be your new target on the downside? |
1179 was for today.
For tomorrow it is around 1183.
No downside target. No short entry yet.
If you want to know a figure, it would be anywhere between 1000 and 1080.
Action / reaction generates new levels. It is too premature to say any figure exactly.
Moreover, should we care if our TSL takes care of our exits? |
That is correct. I like the idea of using TSL for any kind of trade positions. Btw I would like to know that how would you calculate TSL on daily basis? is it any fixed percentage that you put as TSL or you do any other calculations for that? |
Sorry. I don't know the calculation. I get it from someone I know from my working days. I just concentrate on entry / exit as per these numbers.
The challenge was to get used to this system. I struggled a lot initially.
One more entry as per the system was in SBIN around 1520-25. TSL was 1500. Today TSL is at 1620. |
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gcp1
White Belt
Joined: 27 Oct 2013
Posts: 13
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| Post: #24 Posted: Sun Mar 23, 2014 8:59 am Post subject: |
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| rsrs wrote: | | nj976 wrote: | | rsrs wrote: | | nj976 wrote: | | I appreciate your explanation as it makes great sense. I must say you should be a black belt holder, valuable analysis, good work. According to your TSL 1179, if this target is breached then what would be your new target on the downside? |
1179 was for today.
For tomorrow it is around 1183.
No downside target. No short entry yet.
If you want to know a figure, it would be anywhere between 1000 and 1080.
Action / reaction generates new levels. It is too premature to say any figure exactly.
Moreover, should we care if our TSL takes care of our exits? |
That is correct. I like the idea of using TSL for any kind of trade positions. Btw I would like to know that how would you calculate TSL on daily basis? is it any fixed percentage that you put as TSL or you do any other calculations for that? |
Sorry. I don't know the calculation. I get it from someone I know from my working days. I just concentrate on entry / exit as per these numbers.
The challenge was to get used to this system. I struggled a lot initially.
One more entry as per the system was in SBIN around 1520-25. TSL was 1500. Today TSL is at 1620. |
Dear rsrs,
Your L&T and SBI levels r excellent. Pl continue to update the levels on these stocks as I also trade in both.
Thanks |
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nj976
White Belt
Joined: 26 Apr 2013
Posts: 17
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| Post: #25 Posted: Mon Mar 24, 2014 8:36 pm Post subject: |
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| Tomorrow is the day to short L&T, expecting 3-4 percent fall. Keep a stop loss at 1245 |
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gcp1
White Belt
Joined: 27 Oct 2013
Posts: 13
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| Post: #26 Posted: Mon Mar 24, 2014 8:40 pm Post subject: |
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| nj976 wrote: | | Tomorrow is the day to short L&T, expecting 3-4 percent fall. Keep a stop loss at 1245 |
Is SL for LT shorts in cash or future? |
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nj976
White Belt
Joined: 26 Apr 2013
Posts: 17
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| Post: #27 Posted: Mon Mar 24, 2014 8:43 pm Post subject: |
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| gcp1 wrote: | | nj976 wrote: | | Tomorrow is the day to short L&T, expecting 3-4 percent fall. Keep a stop loss at 1245 |
Is SL for LT shorts in cash or future? |
That's in cash |
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rsrs
White Belt
Joined: 22 Oct 2010
Posts: 22
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| Post: #28 Posted: Tue Mar 25, 2014 5:07 pm Post subject: |
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| nj976 wrote: | | gcp1 wrote: | | nj976 wrote: | | Tomorrow is the day to short L&T, expecting 3-4 percent fall. Keep a stop loss at 1245 |
Is SL for LT shorts in cash or future? |
That's in cash |
It came pretty close to being a short. |
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nj976
White Belt
Joined: 26 Apr 2013
Posts: 17
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| Post: #29 Posted: Tue Mar 25, 2014 5:17 pm Post subject: |
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| rsrs wrote: | | nj976 wrote: | | gcp1 wrote: | | nj976 wrote: | | Tomorrow is the day to short L&T, expecting 3-4 percent fall. Keep a stop loss at 1245 |
Is SL for LT shorts in cash or future? |
That's in cash |
It came pretty close to being a short. |
Yes, you are right. But now it becomes little doubtfull. What is your view on the stock? Are you bullish and bearish on the stock after today's trading |
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rsrs
White Belt
Joined: 22 Oct 2010
Posts: 22
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| Post: #30 Posted: Tue Mar 25, 2014 8:01 pm Post subject: |
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| nj976 wrote: | | rsrs wrote: | | nj976 wrote: | | gcp1 wrote: | | nj976 wrote: | | Tomorrow is the day to short L&T, expecting 3-4 percent fall. Keep a stop loss at 1245 |
Is SL for LT shorts in cash or future? |
That's in cash |
It came pretty close to being a short. |
Yes, you are right. But now it becomes little doubtfull. What is your view on the stock? Are you bullish and bearish on the stock after today's trading |
TSL still in place and not triggered. No change in view yet. |
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