iCharts Discussions

[veerappan]

no rule is required for in the market.... u shd not have a mind set .that is today only upside or only down side like this..its enough for the market.... price is the ultimate....tv boys can say anything...dow fut... hangpong...nasDogs mikke.Mouse..kospi...dustpin dont watch these things...just watch our indian market... u can do wonders.... dont bother about any one..... just follow only one indicator...that indicator may be silly to another person...dont bother....if that indicator says buy ...then u must buy that indicator says sell ...u must sell...dont hesitate...bloody that bullshit mind will enter at that time only.. .when the indicator gives buy ...u bought...some selling happen your indicator says sell... u may loose nf 28 pts......at that time u shd not hesitate.. u r mind will say...Europe is up...Cow is up..Dog is up...u will wait...then u will loose instead of 28 pts to 80 pts....u have lost the opportunity of short selling also... think twice...when u enter in to the trading room remove your chappals and mind also.... market is giving so much of opportunities....utilise it....car cannot drive the driver ... but in the market.... mind is driving you.... u shd drive man... u r the key....u can do wonders..

bye veeru
chennai boy

[enroute]

well said and i will apply this completely......

thanx veera sir for reminding it...

[bharat1964]

anna sir u r 100% right thanks

[raksin]

veeru sir ! you are very right

[amit0666]

[adsingh101]

[viraj5]

[profitbkr]

Very True Sir,
but give one example how one can see one Indicator and can trade? it will be great experience for all to know how to simplify things and Trade with confidence.

[chiragbvyas]

For all those people (count me too), who are using multiple strategies and make the chart complicated, then they got confused which one is more proper and which one is not. Just keep it simple and wait for the prices to trade as per your set up. if there is nothing suits your trading plan just sit calmly, because you know when there is chance to trade as per your plan you will make handsome profit. Do not run between one indicator to another to find which indicator shows what. I know a group of traders, one of them use only bollinger bands, one use only donchian channel, you will wonder knowing that they dont have any charting software they have create some formulas in excel sheet that shows same values as out put as that software does.
they just stick to there formula and they come to the trading room with a paper on which they used to mention prices for trading above what price they will buy and what could be their stop loss. they never trade without stoploss and until and unless their stop loss do not get triggred they dont square up . total opposite to short sell trade also. i have seen them minted unexpected money playing futures, They never square up their trade at market price, they exit by stop loss only. one of them use only 55 days simple moving avg (high,low close,) until and unless a price do not close above 55 days sma high and next day do not go below close avg then he will initiate a buy and stop loss is low sma of 55 days. for short sell he will wait to close below 55 days low sma . next day if price could not cross close sma of 55 days he will initiate a sell , but if this set up is not there then he will wait to happen that , otherwise he will sit calmly in the trading room, what others are doing, none of his business. He simply apply this method and he always say that if my set up works then all your indicators will turn in my set up side and if my set up is not initiated then what ever you do, will not find a meaningful gap to trade and to earn handsome profits. The most important he tracks only FIVE scripts and NIFTY FUT and living his life so sophisticated. i know him since last four years , normally he earns good money to live and to maintain good and meaningful life style. no charting software, not any indicators Just one 55 days sma in excel sheet had changed his life. i learnt from him this formula and telling you all in support of Mr. Veerappn's views.

so whatever written buy Mr.Veerappan in green ink just get the print out of the same and stick it on the wall of yr trading room like from any angle you can read it constantly, then you have chance to earn good money from this markets.

hope every serious trader who want to earn his/her bread butter and good lifestyle from the markets should take Mr.Veerappan's views written in green ink MOST SERIOUSLY.

Regards.
Chirag B. Vyas

[vinay28]

Chirag

Since I am new, I have a doubt. 55 sma appears as a line on charts. Then how do you find out 55 sma high, low, close and average values?

[chiragbvyas]

Dear Vinay,
just log in to icharts.in select charts(premium), nifty chart is there by default,
change the script below the chart you will find the sma or ema close,20 or something like that. change that value selecting simple moving avg high,55
then low,55 and then close,55 dont forget to use comma (,) then refersh the chart u will find three lines on the chart on the top of the left side of the chart u will find values just note it down and trade accordingly.

[vinay28]

Oh, thanks Chirag. I didn't know one could change the word "close". Now I have another doubt; sorry for troubling you.

It appears that if one uses 55 sma as indicated by you, there would be many idle days with one missing out on short rises or falls within 55 sma high, low and close. Why not use a lesser period e.g. 20 sma (or 10) to be active more frequently. May be the gain will be lesser.

[chiragbvyas]

to avoid whipsaws he is using 55 days sma. if you can handle whipsaws then you can use any sma that suits your needs. 8 days sma is generating good results if you can stick to yr trading plan.

[chiragbvyas]

if you are focusing on short rises and falls you will miss the really big and meaningful rise or fall. so have patience and stick to yr plan of 55 days sma.
dont trade like bagger for one or two or five rupees. just wait and get the proper entry that's important then your stoploss is your god, maintain that and get as much as you can the profits

[Rahulsharmaat]

chirag thanks--

can u tell me what time frame we have to watch this SMA 55---

pleasse help