iCharts Discussions

[seshareddy]

HI

YES prev day high or low always gives good results and good symptom to provide next moves i always like this to watch with prev day high or low

today sathya999 given this link in sb thanks


seshareddy

[smartcancerian]

profit tgt is 1% & SL cud b range 1.50 to 2% on sum days depending upon prev day hi/lo..So how can we justify Risk/Reward ratio unless the success ratio of dis stgy is more than 90%..So ajit ji..now its only you can guide & tell wat is sucess rate of this stgy as u have been trading dis for quite sumtime..Pl elaborate..Thanx

[seshareddy]

HI

this high and low of prev day will have one midpoint also we can call as pvt

this pvt will restrict or support as per trend

depends on strength always gives good gains only

very simple tech but gives extremely good results if any body follow very strictly

if we apply the same tech to weekly candle we can get full information about tgt and lead to monthly candle also

i give respect to this point

seshareddy

[sathya999]

Ajit,
If I remember correctly then u had postd backtesting results based on buying above below 5 sma, considering 34 sma. That was quite sometime back?

[aromal]

[seshareddy]

yes this is good topic

we have to trade with perfect faith rules


seshareddy

[sunrays]

ajit wrote

{dear friends,
i have benefitted from the i charts to a great extent so it is my duty to contribute my secret treasure.i have made crores out of my method and i will disclose my method to all my friends for their benefit.
method:
1) note down the close ,low and high of previous day of some of your chosen high volume stocks and nifty future.
2)my list is as follows-ACC,ABB,GAIL,TISCO,SBI,SATYAM,INFOSYS,NIFTY,NTPC,TCS,ONGC.i have chosen these because they have high volumes and they cover almost all the sectors of the market.
3)now the present day-watch for the price of all the stocks .wait till the price approaches the previous day high or low as the case may be.when the price is in near vicinity of the high or low then palce your buy or sell order as the case may be .the order should be a trigger order and the trigger price for your position should be 50 paise above the previous day high or low and the position price should also be the same as the trigger price.now as soon as the position is created the stoploss should be placed
not in the system but in your memory and that is the previous day high or low as the case may be.now your target should be 1% profit.remember to
take the profit as soon as the target is achieved.dont begreedy here.also dont fear to take loss as soon as the stop is reached.
4)be consistentin this method.dont be guided by other environments.invariably follow this method.even if there are string of losses.this method will fetch you millions .you can back test it.in this method i am able to find two to three trades daily with a profit of around five to six thousands daily.
5)wish you good luck and happy trading.)}




Hey its quite easy to say buy above day's high and sell below day's low ...in a market that is sideways u'll get stuck often if you try to find these intraday levels which u say as profit making strategy ...u could end up buying at the highest point of the day or selling at the lowest point of the day .Instead work on higher timeframes such as 60 minutes ,daily which give u a better picture to initiate a trade to decide on the trend and go ahead punting even harder as the odds r wid you in such cases... ..quoting an example here

DAY 1 NIFTY MAKES A HIGH OF 6000 LOW 5960 CLOSE 5980 .DAY 2 IT OPENS GAP DOWN AT 5930 MAKES HIGH OF 6004 CLOSES AT 5985 .THE SAME DAY WUD YOU WAIT TO BUY NIFTY AT 6001 SUPPOSE AT 2.40 OR SELL AT 5960 AFTER IT BOUNCED FROM 5930 ..WAT WUD YOUR ACTION POINT BE IN SUCH CASES...PRICE ACTION IS GUD BUT NOT ALWAYS

[sethu45]

Quite interesting. But the scrips mentioned by you will be very volatile and will hit the stop loss mentioned by you i.e. below the previous days high. why dont we try entering if the scrip trades abv tdys morning high/low as the case may be in comparison with y/days high/low. if moves y/days high and tdys morning high then shall we enter long with stop below the y/days high and vice versa. Just test this and advise. keeping stop loss in mind will not work as in this mkt if we have margin we will never put stop losses. All our ultimate aim is to just earn and not loose. Thanks in advance.
sethuraman