iCharts Discussions

[san77s]

Hi Mayur,
Thanks for your reply with care....
We are thankful to Sesha reddy and equally with you also.. Because you only light up this strategy to all of us..
After read again the original post now i am clear (hope so)..
Here i mention the Y Axis and X Axis for tomorrows trade. Please check and confirm it.
Y Axis (B) 4526.60
X Axis (A) 4416.00

Thanks & Regards
S.Saravanan.

[mayurnsk]

[mayurnsk]

[san77s]

Mayur,
Wow thank you... from here its my duty to post my success and how i face during live market..
Thanks
Take care
S.Saravanan

[mayurnsk]

svkumsir Namaskar

Yes the accuracy of the Charts Premium and Live Charts is very good , these two are SwingTrader's own developed charts and Jchart is third party software , I think this has something to do with Java may be, I mean it has something to do with visibility. I cannot comment on its technicalities as i m not a IT techie

Well when icharts comes out with its own version of new charts then i think this issue will be no more. But Anyway this minor difference can be neglected because trader take visual decision by this system. And as Mr.Seshareddy is using this Parsar very successfully so its a answer in a way

On this only SwingTrader can throw more light on this if required.


Mayuresh Jahagirdar

[mayurnsk]

san77s

That was the real purpose to post this system here. So that you people can taste the success.

Go ahead man make many successful trades, your success will be this system's success.

Make good money


Cheers again

Mayuresh Jahagirdar

[asarkar04]

Hi Mayur and Seshareddy sir,

Thanks a lot for this method. Pls suggest- can we use it on Daily chart or best for intraday. Is there any other method that one can follow, who normally uses daily chart?

Thanks
Amit

[mayurnsk]

asarkar04 Hi


yes you can use this method on any time frame. I have already mentioned in the write up. Haven't you read ? if not go through it again thoroughly.

Thank you


Mayuresh Jahagirdar

[amitrajangulati]

Dear Mayur & Sesha Sir,

Firstly, thanks a lot for taking the time and effort for sharing this method with us.

A clarification please, to understand this better ...

Following are the SPOT levels of yesterday's 20 minute charts:

Closing : 4513
Point A / B : 4520 / 4421
61.8% : 4482
38.2% : 4459

If the close is between 4459 & 4482, I have understood how to trade the Nifty clearly.

Since we closed yesterday at 4513 which is higher than 4482 (the 61.8% level where we are supposed to go long), how does one trade this:

1. If the Nifty kept falling today, should we have shorted only below the 38.2% level keeping 61.8% level as the SAR

2. If you look at how the Nifty traded today, it made a low of 4475, crossed the 61.8% level of 4482. So, should we have gone long above 4482 keeping 4459 as the SAR.

Thank you, once again.

Thanks & regards,
Amit Gulati

[RKM]

Thanks, Mayur. I saw your post just now, everything is clear now.

Cheers,

Makhijani

[mayurnsk]

amitrajangulati Hi,

Thanks for showing interest in Mr.Seshareddy's method. I think you re-read the original post.

In the post I have taken nifty futures example and it is for going long in it. Opposite is true.

Here first make it clear to youself that PARSAR swing is primary thing considered and then the fibonacci ratios. The levels and trading is as per calculator. So don't confused with open high low and close at various fibonacci levels. These levels are only used to guide your entry exits in the trade.

You will initiate new trades only in case new PARSAR swing is getting started, it started yesterday in the end, so here you need to take PARSAR Swing line start point as A- 4420 and previous PARSAR Swingline end point as B - 4520 of nifty spot. Put this values in fibonacci caculator. You will long at 4480 with SL as 4458 with targets as per calculator. Thats it .

Its so simple once you put A & B swing values in calculator , you have to trade as that & nothing else. I dont understand why you are getting confused with other unnecessary things? Read the post thoroughly and understand it all answers are in it.

Thank you.

Mayuresh Jahagirdar

[amitrajangulati]

Hi! Mayur,

Thanks a lot for your reply. Sincerely appreciate it.

Regards,
Amit Gulati

[sherbaaz]

Live testing through trading of PSAR starategy
Product: NIFTY F-July-30-2009
Time Frame- 5 Minutes
Recently I have gone through this PSAR strategy. The most striking feature is its simplicity, as i always beleive that the more simple the system or process or strategy is the more effective it works. Thanks to Sesha and Mayur for putting it in forum for all of us.

For doing a live testing of the same I traded on the basis of this strategy in NiftyF on 5 min TF. The advantage i found is that initail SL is not very deep and it didnt hit too often (even on 5 min TF, i have backtested the same).

I have not used any other tools (including my trading levels) just followed the strategy today. I will definitely blend PSAR with my other trading tools.

I had generated total 8 trades today out of which 2 were not initiated. For the reference I have marked the same on chart with trade (short/long) and respective SL’s which had been initiated by me.

Following is the explainnation of each probable trade. I might have not waited for exact target to come but square off according to my judgement.

Trade 1
PSAR changed it direction at 9:55 candle short postion initiated at 4505, 10:00 candle with same sl 4514.75. 9:55 candle closed was below 4506.85. square off at 4476 (10:30 candle, near T2)
Profit Points: 29

u]Trade 2[/u]
PSAR changed it direction at 10:55 candle. Long position calcualted at 4492.90. But none of the candle touched the long value even once . No tadde initiated.
Profit Points: 0

Trade3
PSAR changed value at 12:25 candle I didnt initiatea short trade as it was only a dot formation and at 12:30 candle it changed direction at very next candle.
Profit Points:0

Trade4
PSAR changed at 12:30 as earlier PSAR was a dot i didt initiate the long trade here.
Profit Points: 0

Trade5
PSAR changed value at 12:40 candle. Short initiated at 12:45 candle at 4538.40. Square off at 4526 (T1)13:10 candle.
Profit Points: 12.4

Trade6
PSAR changed value at 13:30 long inititaed at 4534.75 opening of 13:45 candle. Square off at T2 4550.60 at 14:10 candle.
Profit Points: 15.85

Trade 7
PSAR changed value at 14:25 candle. Short initiated exactly at 4543.50 with a Sl of 4549 at 14:25 candle. There is a GAP DOWN opening also of the same candle. Square off at T2 4520.
Profit Points: 23.50

Trade 8
PSAR changedvalue at 14:55 candle (broken my own rule of not entering into trade after: 15:00). Long trade initiate at 4542 at 15:00 candle it didt hit exactly on 4538 but was close enough (4 ticks) to initiate the trade. Square off at 4570 15:20 candle.
Profit Points: 28

Fortunately i didnt incure any loss today using this strategy. But it doesnt not mean i will not have losses. Im trading losses are always bound to happen. How much you can keep it low in percentage terms to you profit depends on individual.

TOTAL PROFIT POINTS= 108.75

Do post your comments on the above. Request Mayur & Sesha to share their views also.

Regards,
Sherbaaz

[amitrajangulati]

Hi!

Attached is the "SPF Fibo Calculator" made in excel. Trust it will be useful to all.

Cheers,
Amit

[san77s]

Hi Mayur,
Its a fantastic day begin with this levels...
Today no fresh PARSAR formed so we use the same A 4416 and B 4526 for tomorrow's trade also?

Thanks & Regards,
S.Saravanan.