iCharts Discussions

[spiritualtrader]

Hi All,

Since past couple of days I am trying to learn Spec sir swing trading system. I myself do swing trading. But I have different set ups and system, which I have learn't over a period of time. I consider my self fortunate to come across some very good books and real good traders, which have helped me to be what I am today as a trader.

For me as a trader learning is an ongoing process but with an objective of execution as I am not an analyst I am a TRADER.

I am thankful to Jai sir, Spec sir and other fellow traders for helping me in learning this system which is as per my understanding one of the very good systems I have come across as a trader.

I was positing my queries, charts to various thread related to this system. I am starting this thread as I want to keep track of my learning and progress of my learning along with inputs and guidance of other fellow followers of this system.

I hope fellow traders, Jai sir, Spec Sir and other whose name I dont know yet (as I am not aware) help me out in my learning.

Thanks & Regards,
Spiritual

[spiritualtrader]

Dear Sir's,

I am posting chart of LT future which I have already posted in some other thread.

Ticker : LT Future
Time frame: 30 min
Query: How to identify that scrip is going in congestion or in range as per this method. In below mentioned chart last valid rejection had not given profits and now its in process of giving another rejection? Trend will change once the latest DPS taken out by price But prior to that there may be congestion

Regards,
Spiritual

[spiritualtrader]

Jai Sir,

Kindly give your inputs on the attached chart. As it seems to me a very interesting chart and a good learning I can take from this chart.

Ticker: Educomp Future
TF : 30 min

Query: Have I plotted the swing pivots correctly? If yes what would be the new USP as I am unable to mark it? Kindly guide.

[Jai2000]

spiritualtrader,

Educomp 30Tf USP is 211.65 - 23/09/'11- 11.30 hrs candle. Pivot is too far, you can wait for a rejection to enter long.

Regards,
Jai

[spiritualtrader]

[spiritualtrader]

Jai Sir,

Kindly provide your inputs on the attached chart.

Ticker: DLF Future
TF: 60 minute.

Query: Can we trade the highlighted red area from long side is there any way of trading it using this method as EOD at that time was bullish or we have to wait for valid rejection?

Regards,
Spiritual

[spiritualtrader]

Jai Sir,

Kindly check the chart attached. Kindly give your inputs.

Ticker: INFY FUTURE
Time Frame: 15 min

Query: What will be the SL ?



If my marking is right then it's a buy


Regards,
Spiritual

[Jai2000]

spiritualtrader,

hi Lowest point should be the SL, in this case it's 2486.35(infy-1m).Monday, if the price trades below this point ,then better wait for another valid rejection, if flat open,then u can buy with this same sl.

DLF--- Spirit, Spec sir himself declared that this strategy work well upto 30Tf.I'm trading his method more than 1 1/2 years, but i never traded 60TF or EOD.So i cant say anything about that.Better ask spec sir about higher TF! He uses simple 13ema for EOD, just ask him!
Based on 60TF's trend DLF given buy signal @202.35 on 5/10/'11! 4/10/'11- 15.30 & 5/10/'11 10hrs candles are upside rejection candles.
(Jai enough no more code word pls)

Regards,
Jai

[spiritualtrader]

Spec sir himself declared that this strategy work well upto 30Tf.I'm trading his method more than 1 1/2 years, but i never traded 60TF or EOD.So i cant say anything about that.Better ask spec sir about higher TF! He uses simple 13ema for EOD, just ask him!

Jai Sir,

Thanks for your inputs. I had asked the same thing to Spec sir y'day and he told me that originally it was 60 min tf + 34 ema combination. What I think is that it depends on an individual trader.

As I am trying to sync the system with my system of picking trades from EOD charts and trading tham on 60-75 min tf I am using such TF.

PS: I think upside breakout may happen in LT on 60 min tf of last DSP.

Regards,
Spiritual

[spiritualtrader]

Jai Sir,

On Friday nifty opened with a huge upside GAP and also had taken out the DSP on 15 min tf. Now the option we have is to wait for REJECTION either price going down to 34 ema and then fulfilling the buy conditions OR RSI(5) getting OS.

My Q if price remain above 34 ema and RSI(5) will get OS than how to initiate the long trade?

Regards,
Spiritual

[jjm]

Dear Spiritual

I know you are quite senior in terms of age as well as your tenure in stock market...

One humble request...

Way you have been posting queries/doubt...

It clearly suggest that you have not read the entire forum...

Time and again all these doubts have been answered by either specji or jai..

Let me share my experience

It took me 6 months to understand system

I took print out of all the related documents and kept it reading once in month till it started running in to my bloods... and I still read all new post in forum to check whether there is any value addition

The qtn you have asked I can exactly tell you on which day on whose query it has been answered..

Tell me frankly how many times you have read and do you have print out of complete thread on your trading desk..do you read it once a pivot is broken in tf you are following


Now coming back to your doubt..if prices keep drifting away fr 34 ema..will it be a end of world for you..I hope not.. how long it will be..2/3 , 5 days

Price will consolidate and will touch 34 ema or will correct and touches 34 ema..

A system stand alone can give 60-70 % success... I do not mind even if I loose 150-200 pts run as I know it gives me 200 pts/ lot per month


Since you are new to system ..I wont suggest it...but for your academic interest ..if you wish to know...shift to smaller tf say 5 look for valid rejection and convert it in to swing..

Mind it this is for seasoned one..or one can take entry based on his intra day trading system..

Specji has suggested this but it is not recommended ..if it suits to your trading and risk taking ability


Believe in system , doubters do not have place in stock market

Wishing you all the best

JJM

[spiritualtrader]

[spiritualtrader]

Putting 2 charts which as per my understanding are probable long trades both time frame - 30 mins.

one is already in an up trend renbaxy and another LT is at the verge of breaking the USP.

Regards,
Spiritual

[Jai2000]

spiritualtrader,

hi, this kind of situation happens rarely( Pivot taken out by Gap). This time even 5Tf also didnt give alert, anyway..... Spirit, rejection is the best way to enter a trade, still there is no valid upside rejection.Better we wait.......

Regards,
Jai

[Jai2000]

Spirit,

Ranboxy fine ! LT already in uptrend... how u arive at 1404.90? It was 1404 & Friday it taken out....... there's a 5TF rejction on friday, so if the price trading above friday's low we can trade with SL of 1381, otherwise as usual waiting is the best Option

Regards,
Jai