iCharts Discussions

[seshareddy]

hi all

[b]we trade from our own tech method. we try to add some more methods to original method. we add our experince to our own method. we know that candles will give full information about news or etc etc . with our tech we build or calculate for levels for weekly month and daily . the levels or tech may tell something about eod , weekly and monthly candle. most powerful order month and weekly than eod. i too do all this like others. i got one doubt that why we are trying to go longs. whether we are trying to enter at low ? trying to catch low is disturbing to enjoy the profit of shorts too . as we know all that mkt wont go suddenly if closed above some level only it may possible to go up further. we know the fact but we are trying for something. we are trying to give reasons and trying to give logics our pos side only ( for example if iam in long i give longs side reasons only )i think iam doing some mistakes to manage my own method to keep in order.gain or loss is not imp here whether we are following the own method perfectly. this is my doubt. from today i want to do pos trade if supported by weekly and monthly levels only.

this post is not to hurt any body

this post reason just open my feel

please ignore any grammer mistakes ha ha

seshareddy

[Arul Zen]

This is because we, humans have a mechanism in our brain called Reticular
Activating System (RAS). It determines what we observe and how we pay attention to it. The RAS attracts information to support what we are focusing on and alters our conscious experience.

If we believe that we will win at trading and we focus on where we want to go then the RAS will attract information that supports our focus and belief. On the other hand if we continually harbor fear in our heart about losing money on a postion, our RAS will draw pieces of information that support our fear.If we enter into a trade that is working but we are afraid to lose what we have gained, the RAS will feed off the emotional intensity of fear and will attract us to information on why the trade might not work, encouraging us to cut our profits short.

Our brain can only focus on a limited number of items at once, the RAS blocks our whatever it does not hold important. It filters out the noise it believes to be unimportant to our priorities. When we are trading stocks,innumerable tidbits of information about the market come streaming in all of which require our interpretation.Because it is impossible for our brain to absorb all of the information coming in.Then RAS willl determine what we will notice. The RAS will block out information that is nonessential for us to acheive our objective.

So the trick is , 1. controlling the fear and greed. 2. trying to be in a unbiased state of mind.

Thanks and regards
Arul

[seshareddy]

HI arul kumar

yes fear and greed , others opinion , news forcing to change of mind in middle of trade.
main enemy is continue watching live retrace candles to lead to change of mind.

( eye disturbing the mood of plan creating the fear and greed ) other tech tools are forcing to come out from trade or to keep with hope.

for this i am doing like this just i shifted to line chart and line colour changed to white so i cannot c the retracement only avg lines. every 30min or 60min i check the candles. and i just drawing my levels on chart and keeping relevant orders with stop loss order

iam fixing month and week levels on desk if pos is against to month or week just iam doing intra only. if favoure i am keeping as position

my advantage is doing only nifty so i can remember of all levels

as you said still iam practicing to control the emotions

all trades iam writing in a dairy loss or gain with reasons

thanks

seshareddy

[ProTrader]

Rupee Accumulating System

[seshareddy]

HI PT

ha ha yesssssssssssss money accumulating

c this line chart with spider trendlines

seshareddy

[mbn]

sesha garu, confusion comes when we try to outsmart our method or a mechanical trading system. i hope u wont try to override ur rules . irony is by over ridding u may get better results than ur system but in a 6 months priod u'll observe u r trading lesser lots than u r supposed to trade as per system, not bcoz u lost money but even after making more than the system u will be trading lesser lots due to the confusion and ambiguity bcoz of overriding the system or method...with all good wishes...mbn

[seshareddy]

hi mbn

one day i missed the chances so i posted

iam following only one system from past one year so no problem every thing going smoothly

thanks for your concern

seshareddy

[hbanerji]

seshaji hi,

i've used these trendlines for a very long time. one suggestion, pull up the sensex chart and try drawing the trendlines on it and try to look for confluences. while doing this, i also try to consider the error margin as is reflected in the minor corrections on the chart. in my experience, i was able to mark the major swing of the day with a fair amount of accuracy. i've never tried it using icharts, but i'm sure that you can achieve similar results (maybe even better) on icharts. sad thing with the sensex chart on bse is that you cannot start drawing trendlines immediately as the chart takes about an hour to reach a projectable scale, therefore you cannot use it for opening range studies. another problem that i was encountering was the premature profit booking... to this effect, i have found that your parsar system is a better option. of course, the sls are sometimes frustrating, but here with trendlines, i find premature closure also rather frustrating. please keep us posted

[seshareddy]

hi hbanerji

i never tried sensex i will do this weekend

sensex also good idea reason sensex 30 stocks are imp comparing with nifty 50stocks in point of view wt age iam having offline metastock charts so i can apply this trendlines there. iam having advantage to draw gann trendline also

i apply for sensex and tell you what happens on sat or sun


seshareddy [size=18][/size]

[Arul Zen]

To control my emotions, I usually starts with small lots, I gradually accumulating more, once the trend confirmed. in simple words "PYRAMID YOUR PROFITS"

Thanks and regards,
Arul

[seshareddy]

hi arul kumar

you are following the best system we should not avg in loss side we have to avg in profit side this pyramid system will give excellent results

i too doing the same

seshareddy