iCharts Discussions

jjm · White Belt Joined: 17 Mar 2010 Posts: 411

TSL shifted to 5015 below bar @ 15.05 LTf

JJM

jjm · White Belt Joined: 17 Mar 2010 Posts: 411

Closed @ 40 ..cool 24 pts

Regards,

JJM

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Dear ST

Even though I understand that S to R values change every day, is there any significance that NF closed above today's bull level after going to LOC-Bear level?
Vinay

SwingTrader · Posted: Fri Sep 02, 2011 7:02 pm Post subject:

Sorry, I got tied up with some work after 1 PM today and could not post after that.

JJM - Thanks for posting the updates.

SwingTrader · Posted: Fri Sep 02, 2011 7:16 pm Post subject:

SwingTrader · Posted: Fri Sep 02, 2011 7:35 pm Post subject: MTT - NF - 02092011

Good day today.

A. HTF was in bullish mode from the market open. We got a regular long trade (CCI pullback) early - 9:40 bar on LTF. TSL was just below low of the day. This trade went on until STS got OB on HTF and the moving averages on LTF crossed over (to the downside). 11:40 bar hit the TSL 2 if one was using hit based TSL.

B1. If one had got stopped out of the trade A then a short was triggered here as WMA crossed over SMA triggering a reversal short with ISL just above 5063.50 swing high.

B2. If one had used close based stop for TSL then trade A would have got stopped out at 12:45 bar close that closed below the prior swing low and a reversal short was automatically triggered with ISL above 5050.85 swing high.

C. As the reversal short trade progressed STS on HTF went OS, gradually moving averages on LTF crossed over to upside and a swing high was formed there that finally broke triggering a reversal long. ISL below 14:35 swing low of 5002. Stop was moved once to TSL 1 and then trade closed just before mkt close.

HOW TO MOVE TRAILING STOPS IF THERE ARE NO SWING HIGHS/LOWS?

JJM had asked a question about moving stops when there were no swing highs/lows....like in a V shaped recovery. I prefer to use EMA of high/low to trail stops but unfortunately we do not have these in JCharts. One can opt to use "Live Charts" for it. Our new charting tool being built has these EMAs, so they will be available in the future.

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

A query ST. If someoe is still long, is TSL still 5015 as indicated by jjm?

SwingTrader · Posted: Fri Sep 02, 2011 8:10 pm Post subject:

rvg,

Try the following settings for 60 mins + 15 mins combo where one is planning to hold the position for more than a day.

60 mins chart : WMA 3, SMA 13, STS 13,5,5

15 mins chart : WMA 13, SMA 34, CCI 5

Important Points :

1. For reversal trades do not use WMA/SMA crossover on LTF. Wait for a swing high/low to be broken and only then enter the trade.

2. Use prominent (clearly identifiable) swing highs/lows to place initial & trailing stops.

I will continue to monitor these settings and test further but the above can be use as a start. I will update you on this further if I see anything important.

*** Do watchout for whipsaws during trading range phase like 13.07.2011 to 25.07.2011. I will work on this combo further and see how the system can be made more robust for this combo.

SwingTrader · Posted: Fri Sep 02, 2011 8:18 pm Post subject:

sambhaji_t · White Belt Joined: 31 Mar 2008 Posts: 135

sambhaji_t · White Belt Joined: 31 Mar 2008 Posts: 135

Sir,

Please hav a look at the chart and tell me whether SL for trade at 13.20 should be AA or BB. Also please confirm the setup is OK or not.

Thanks & Regards

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Dear ST

when will S to R for 5th Sept be posted on FB?

Vinay

SwingTrader · Posted: Sat Sep 03, 2011 8:22 pm Post subject: Re: LT 02092011

SwingTrader · Posted: Sat Sep 03, 2011 8:23 pm Post subject:

rvg · White Belt Joined: 31 Oct 2006 Posts: 279

ST Sir.. Many thanks