iCharts Discussions

[kanna]

the following are some of the points i noted in yesterday SB archieves which are worthy for me

1.check trade master's bb set up
http://www.icharts.in/forum/swing-trades-based-on-modified-bb-and-rsi-t1742.html
casper it is very good for position trading
sherbaaz have u back tested it casper ?
casper sherbaz bhai yes back tested but believe me , back testing of bb does not help much
casper bb expands and changes its shape, today what is out of bb, if u back test 3 months latar, it may come with in the bb
sherbaaz the reason is there is issue with rsi (2)
casper no i am talking about bb particularly
casper apart frm rsi 2
24-Dec 00:11 sherbaaz which works well is not so volatile stocks and mostly in etf as it was initially used to trade etf only
24-Dec 00:12 casper if we get a break out, initially the bo candle will be out of bb, but wid times if the bo sustains, bb will expand and will catch up the price
24-Dec 00:12 sherbaaz that again in a a very wrong notion
24-Dec 00:12 sherbaaz no its rsi (2) only
24-Dec 00:13 sherbaaz price out of bb does not mean we will see the reverse
24-Dec 00:13 casper may be. but hav enot seen tht much, as i seldom trade in position,so hv not traded tht mcu to comment on rsi 2
24-Dec 00:14 casper right sherbaz bhai
24-Dec 00:14 casper a bo does not means always revers
24-Dec 00:15 sherbaaz rather BO if seen from simple point would be a strong set up
24-Dec 00:15 sherbaaz in BB
24-Dec 00:16 sherbaaz instead of RSI (2) use force index which is for this purpose only
24-Dec 00:18 casper i treat bb as my immediate sup and resi and expect it to reverse form here, not after breaching, but before breaching bb, i expect the price to reverse
24-Dec 00:18 casper ok
24-Dec 00:18 casper i hv read abt force index but hv not used it ever
24-Dec 00:18 casper will try for sur
24-Dec 00:19 casper oh sherbaz bhai, i must go now
24-Dec 00:19 casper good night and happy trading 2mrw
24-Dec 00:19 sherbaaz in the same set up change few things and use volume
24-Dec 00:19 sherbaaz bye
24-Dec 00:19 casper say wht u would like to change?
24-Dec 00:19 casper so tht i can make anote? and try
24-Dec 00:21 sherbaaz instead of rsi(2) use force index
24-Dec 00:21 sherbaaz now force index u can read in elder book
24-Dec 00:21 casper ok
24-Dec 00:21 casper any setting for force index?
24-Dec 00:21 sherbaaz instead of rsi 14 use rsex 14,9
24-Dec 00:22 sherbaaz ithing try with 2 or 3
24-Dec 00:22 casper i got some materials from nets also
24-Dec 00:22 casper ok
24-Dec 00:22 sherbaaz or u can use yr fav macd also which is far better than rsi 14
24-Dec 00:22 casper ok
24-Dec 00:23 casper i use rsi 21, bcoz i am quite used to it
24-Dec 00:23 sherbaaz ok
24-Dec 00:23 sherbaaz rest is volume now i dont know how much do u know abt vol but here it will work great
24-Dec 00:24 casper all i know abt vol is price action shd be supported by vol, or else, something fishy

[kanna]

jimmie replied to one question from Aromol that

jimmie Aromal my secret is SL.. Till i didnt knew this secret, i kept loosing/gaining/loosing/gaining...

very valid point. until your stop is near by and small and valid then your losses will be less

it wll help in long run as we take care of our losses, and profits will be taken care themselves

JIMMIE.......EXPERIENCE COUNTS

[seshareddy]

SL is one of the imp point in trading


seshareddy

[kanna]

Requesting your views and advise on the same topic

kanna : jimmie i have a question in Money management.
kanna : if suppose i start with 1 lac. and say now it is at 1.45 lacs. I dont want to keep more money in trading a/c
kanna : how often i can withdraw. is there any good plan for that.
kanna : or we should allow it to compound. so that we can take higher exposure?
kanna : which is good
jimmie : depends.. on how much time period u earned..
jimmie : kanna nopes.. withdrawal is necessary..
jimmie : u can think of coumpunding if u have started with a small capital of 10-20K
jimmie : everyone is prone to mistakes and 6 months of compounding income can get wahsed away in 6 days.. so withdrawal is necessary
kanna : if suppose we had a good run and in first week itself we reached 50% profit. ie 1.5 lacs then shoould we withdraw 0.5 that tiime itself. not waiting till month end.
jimmie : yeah u should withdraw..
jimmie : minimising the exposure in profits is a good strategy..
jimmie : simply withdraw.. or invest the profits in some deliveries.. whatever..
kanna : hmmm thanks jimmie for the insight
kanna : PT any suggestion for any book on money management?
ProTrader : kanna: talk to your dad or grandfather
jimmie : kanna dad is best.. i still remember his words when i was leaving home to buy a costly car.. he said bete patre mein paisa mat daal.. buy a house.. somehow i obeyed it and it has gone 5 times in this years.. while the car would have gone 1/5 times
nsinojia : kanna yes .. donate 10% of your earning/invest in real estate 25%/invest in gold 25% rest moj karo
ProTrader : icharts ka sub dete raho.. but trading for a living covers that aspect..alexander anna likhe

[seshareddy]

c this trendline

long trendline 30min chart waiting to protect bulls

seshareddy

[seshareddy]

one more trendline drawn

seshareddy

[kanna]

jimmie shares a little bit about open price method. a detailed structure is there in forum already. but as jimmie explained below he has modified it a lot jimmie pls update it when u are free/

also we can modify it according to our own style

OP open price. it is the price at which nifty future opened for that day. u have to see terminal price. ie NSE open price dont refer icharts open as it may differ slightly


06-Jan 16:48 Chaaru Jimmie..Do you still use Gann charts?
06-Jan 16:49 jimmie nopes, after OP i dropped every other thing

06-Jan 17:07 Chaaru Jimmie..What do you do in OP? Go in the direction of OP after first 5 min bar and place SL at highest Vol candle. Right?
06-Jan 17:07 Chaaru *TSL..
06-Jan 17:08 jimmie chaaru too many thing in OP also..
06-Jan 17:08 jimmie things*
06-Jan 17:09 Chaaru Anything major I left out?
06-Jan 17:10 jimmie chaaru i use 13/34/50/89 and RSI in 5 TF with volumes..
06-Jan 17:10 Chaaru Where does Ema come in OP..?)
06-Jan 17:11 jimmie OP only gaurantees that u r not on the wrong side of a trade nothing else..
06-Jan 17:12 jimmie Chaaru its not an easy game.. u will have to follow it regularly with ur usual tools, only then u will understand..
06-Jan 17:12 Chaaru hmm.. You have a thread on this Jim?
06-Jan 17:12 jimmie RC gave me this OP.. and i made it according to my convinience..
06-Jan 17:13 nifty7000 jimme: do u have any link of OP ??
06-Jan 17:13 jimmie He just told OP is like seeing ur wife's face in the morning.. By seeinf her face u will know how her mood will be throughout the day..
06-Jan 17:14 jimmie so i forwarded his msg to u also.. now u make ur own theory <)
06-Jan 17:14 paritoshswarup jimmie : chaaru i use 13/34/50/89 and RSI in 5 TF with volumes.. jimmie which of these are ema and sma?
06-Jan 17:15 jimmie chaaru fib nos i use emas.. rest are smas..
06-Jan 17:15 seshareddy i like month wife ha ha
06-Jan 17:15 seshareddy week also
06-Jan 17:16 jimmie yes weekly wife is good for swings..
06-Jan 17:17 jimmie nifty there is an old link.. but i have modified it much after that.. and the modifications will continue till i trade <06>. not for u
06-Jan 17:40 nifty7000 ok ...
06-Jan 17:40 nifty7000 jimme: wat is cc??
06-Jan 17:41 jimmie candle close
06-Jan 17:41 paritoshswarup thks jimmie
06-Jan 17:41 nifty7000 ok
06-Jan 17:41 nifty7000 brb
06-Jan 17:42 jimmie also use 89 sma of 5TF with last weeks FIB.. it gives a better idea
06-Jan 18:03 jjm jimmieji how u interpreted the first 5tf candle as it opened above 34 ema and closed below 89 SMA
06-Jan 18:03 jjm for today..
06-Jan 18:04 jjm as you havebeen explaing OP..
06-Jan 18:04 jjm since swing was short.. u continued ur positn???
06-Jan 18:05 jimmie 89 ema..
06-Jan 18:06 jjm ok 89 ema was obove candle..
06-Jan 18:06 jjm above candle top
06-Jan 18:07 jimmie today was simple.. OP was never visited.. and the printed high remained the SL for the day
06-Jan 18:08 jjm but then in between u were suggesting it might go to 6120/6110 ???
06-Jan 18:08 jjm that was for 34 rejection right??
06-Jan 18:08 jjm or may be 13 ema rejection??
06-Jan 18:09 jjm in 30 tf right??
06-Jan 18:09 jimmie it will go tomm
06-Jan 18:10 jjm so did you play intra addln to swing short?
06-Jan 18:10 jjm or u did pyramid ??
06-Jan 18:11 jimmie sometimes i take new futures. sometimes i remove the swing shorts.. and call it intra long..
06-Jan 18:13 jimmie i removed the swingshorts at 6080 today n didnt reshort as i didnt get a higher price than that.. so i will call myself long
06-Jan 18:29 jimmie but one simple thing i use is volume bars in 5 TF.. if u see 2.40 PM bar.. it took the highest volume and the high low of that bar with Candle Close would matter for me and i would take a trade in direction of BO of that bar.. with the low or high as SL w
06-Jan 18:34 nifty7000 jimme : confuse in ur poinr at that ponit no trend his ther so how would have taken it ..
06-Jan 18:35 jimmie nifty7000 i play it that way.. in NF... whenver a high volumes bar occurs i get a small SL that is the high or low of that bar.. and i take a trade..
06-Jan 18:35 nifty7000 as i understook if eod trend is up and in oredr to go u need to get conformation in 5 min charts to go long ..
06-Jan 18:35 sherbaaz this divergence is also not a stronger one high risk div
06-Jan 18:35 jimmie later when other higher volume bar was formed.. i will shift the TSL to the low that bar.
06-Jan 18:36 jimmie nifty7000 for intraday i dont use my brain or the trend of EOD..
06-Jan 18:37 jimmie just small cues if i get on 5 TF i take a trade with small SL..chuck the larger trend..
06-Jan 18:38 paritoshswarup jimmie : but one simple thing i use is volume bars in 5 TF.. if u see 2.40 PM bar.. it took the highest volume and the high low of that bar with Candle Close would matter for me and i would take a trade in direction of BO of that bar.. with the low or hig
06-Jan 18:39 jimmie ye sab charts mat dekhne bolo yaar... i will get tempted to trade all these
06-Jan 18:40 kotwani ONLY candlesticks r excellent clues(90 %) for U-turns in price
06-Jan 18:40 nifty7000 kotwani : ya right ..
06-Jan 18:40 paritoshswarup jimmie u meant 1.40 pm bar?
06-Jan 18:41 paritoshswarup in 5tf today?
06-Jan 18:41 jimmie pariosh we are talking about TCS
06-Jan 18:41 nifty7000 jimee: by ur word big quest arise to hw to select the trading stock fr a day
06-Jan 18:41 paritoshswarup oh ok
06-Jan 18:41 jimmie for nifty i remember 6090 odd was the high of high volume bar whiche we didnt cross for rest of the day witha CC..
06-Jan 18:42 jimmie nifty7000.. thats the problem with stocks.. so i chose not to be there.. the one u choose may not move
06-Jan 18:43 nifty7000 jimme: it happend always
06-Jan 18:43 kotwani jimmie ji, i JUST c candlesticks for U turns
06-Jan 18:44 kotwani UP or DN
06-Jan 18:44 sherbaaz nifty trade swing u will be greatly benefited
06-Jan 18:44 jimmie kotwani yes, even tahts good..
06-Jan 18:44 jimmie but i am yeda with candlesticks.. padha likha kam hun..
06-Jan 18:45 kotwani tcs was a buy at 10:05 2day @ 1157.5
06-Jan 18:47 nifty7000 kotwani ; then i would have covered at 10.15 seems to be rejection from 15 ema
06-Jan 18:47 jimmie nifty7000 kotwaniji se sikhlo..
06-Jan 18:48 jimmie yaar stop using 15TF.. its of no use..
06-Jan 18:48 nifty7000 and also price is below 34 ema 8O
06-Jan 18:48 jimmie if u r looking for quick gains or intra use 5 TF
06-Jan 18:49 Speculator GE guys
06-Jan 18:49 nifty7000 jimme: but that also been cross bu price ..

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[seshareddy]

hi alll


eod trendline


seshareddy