iCharts Discussions

nsk1371 · White Belt Joined: 01 Sep 2009 Posts: 226

all 5 lots booked loss...
1. short @ 4977 @ 10.05 bar booked loss 4985 @11.20= 8 points loss
2.long 4985 @ 11.20 sl trig @ 4962 11.45 bar= 23 points loss
3.short 11.50 @ 4966 sl trig @ 4985 ..1.25 bar= 19 points loss
now i shd hav reversed the trade to long .. but did not do that due to frustation..
4.long 5007 @ 2.25 ( regular long as cci closed above 0) booked loss @ 2.55 bar @4994 = loss 13 point
5.short (reversal short as ema crossover in ltf with sl of 2.20 bar hi +2 and break of swing low) 2.55 bar @ 4988 sl triggered @ 3.10 bar 5016 = loss 28 point..

total loss = 91 points in 5 trades..
i'm posting this only to know my mistakes and console myself.
tnx sir,
senthil kumar.n

Padkondu · White Belt Joined: 23 Jan 2008 Posts: 120

Dear ST.

Can the same chart set-up be applied over 60min/15min or daily/60min time frames for swing trading?. if not please suggest the modifications in the MTT strategy for swing trading.

regards
Padkondu

SwingTrader · Posted: Mon Sep 05, 2011 8:15 pm Post subject: Re: plz. point out my mistakes

SwingTrader · Posted: Mon Sep 05, 2011 8:47 pm Post subject: MT - NF - 05092011

Difficult day today....after seeing lots of easy days recently...

A. Moving averages indicated bearish trend on HTF. Regular short triggered on close of 9:55 bar as CCI closed below 0 after it had hit +100 few bars before. ISL was 2 pts above 9:45 bar high of 4989.80.

SL was moved down to just above 4980.05, then just above 4978.95 swing highs.

B. 11:20 bar triggered TSL for trade A. Since STS on HTF had got OS by this time we got a reversal to long trigger on close of 11:20 bar (just after trade A TSL was hit). ISL for this reversal long was 2 pts below 11:10 bar swing low of 4965.55.

C. 11:45 bar stopped out trade B. I made a mistake by indicating that this was automatic trigger for a short. It was a mistake because negation of reversal trades happens only on a CLOSE beyond swing high/low and not just by triggering the SL. Anyway, the SL for this short trade was 2 pts above 11:40 swing high of 4986.80. SL was later moved down to 2 pts above 12:40 bar swing high of 4981.60.

D. Trade C stopped out and long automatically triggered (based on criteria #2 for regular long - break above swing high that is above both moving averages). ISL for this trade was 2 pts below 13:15 swing low of 4968.45 (clearer swing low was 12:55 bar but no way was I prepared to have a stop so far after all those whipsaws).

E. Trade D exit is as per the rules, no way I would let this trade come down to point E especially after the BEAR level completely halted the upmove. I usually just grab profits there itself. But according to trade rules 14:10 bar swing low was broken by the 14:25 bar triggering the trade D exit and at the same time triggering the reversal short (STS was OB on HTF). Even though this swing low was not below both moving averages, the bar that broke this swing low closed below both moving averages which is as per the rules. SL for this short was 2 pts above 14:20 swing high of 5013.

F. Trade TSL was moved down to 2 pts above 14:50 bar swing high of 5003. This TSL got hit on 15:05 bar.

No trades to be taken after 15:00 hrs.

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

hav a look

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

tcs future

SwingTrader · Posted: Mon Sep 05, 2011 10:17 pm Post subject:

sambhaji_t,

Very good trades, did you take these or you were just monitoring? In any case, good trades.

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

ST, S to R values are not posted on FB

ktpillai · White Belt Joined: 23 Nov 2007 Posts: 95

Yesterday low of TCS Spot at 998.45 is a good support in weekly chart.Also if we examine tne inra day chart 5 min we can see a good + div

SwingTrader · Posted: Tue Sep 06, 2011 10:02 am Post subject:

Regular short triggered on close of 10:00 bar. ISL is 2 pts above 4978.75 (9:55 swing high).

SwingTrader · Posted: Tue Sep 06, 2011 10:04 am Post subject:

FYI: STS on HTF is OS...we may get a long reversal trade little later.

nsk1371 · White Belt Joined: 01 Sep 2009 Posts: 226

1..first tnx for ur reply..
2..took short in mini 4970...
3.. s r levels in the facebook and just blw in the site are spot or fut levles
4. a reversal long wil b trig on hit of sl or a close above swing hi which is also above the ma's of ltf? or both..

SwingTrader · Posted: Tue Sep 06, 2011 10:21 am Post subject: Re: st sir tnx,

SwingTrader · Posted: Tue Sep 06, 2011 10:44 am Post subject:

The move down is sharp, best to tighten stops or at least trail stop using EMA of LOW, 8 in Live Charts (Futures).

We may get a good reversal long....watch out...

SwingTrader · Posted: Tue Sep 06, 2011 11:03 am Post subject:

We are looking for a possible long reversal now. If we get a CLOSE above the 10:55 swing high (4950.80) and this CLOSE is above both the moving averages on LTF then it will be a long reversal trigger.