iCharts Discussions

[Arjun20]

Dear all

It’s needless to say anything more about Spec Sir’s SSPS. Out of 75k+ users, hardly there will be any who is not aware of it. But some traders like me face problems in actually implementing it.

Well, I started seriously studying SSPS around 3 months back. When I read it, I thought I understood it. But after couple of weeks I often got confused regd timing actual entry and exits. I’m a slow learner. In between I lost connection with it. During these days Jai bhai, Sanchit, Anant Khadilkar ji , Infinity and others helped me to understand better and cleared my doubts.

Finally with start of upswing on 7 Oct, I decided to track system wholeheartedly . Actually there’s already a thread and I should not be starting a new one. The ‘Swing Trading : The Speculator way’ contain answers to almost all queries a fresher has. Also traders keep on posting recent USP/DSP regularly.
BUT, the main diff is one learns better with recent/current examples. I thought instead of jotting things in my laptop, if I start a new thread, along with me other interested traders can also learn.

The scrip and timeframe we wish to track is the one which is widely tracked ie. NF-15minTF.( Needless to say, these are paper trades.)

I request seniors to help us and correct/guide wherever necessary .

Regards
Arjun[/b]

[Arjun20]

Hi All,

To start with I tried to catch Upswing from 7Oct till 18Oct. It was comparatively easy to understand. Pls correct me if anything wrong in it.
Next chart will report moves after breach of USP and i will require help there.

rgds
Arjun

[jjm]

Dear Arjun,

Chart you have posted is correct one...

However it seams that you have not understood trade management ..

Exit/ long closed is not correct what you have mentioned

We got stopped out as 1.5ATR tsl got hit.. this happened thrice in this swing ...when ever you get stopped out... once again same process trade valid rejection ...

Do not hold position till it makes a new pivot...

You have to book profit as well as protect profit for balance ...

Read the trade management fr this tread..

http://www.icharts.in/forum/ssps-speculators-swing-pivot-system-t3444.html


Trade management

Valid Entry

Viable Initial Stop loss

Trailing Stop loss

Partial profit booking

Feel free to raise any doubts

Regards,

JJM

[Arjun20]

Yes JJM sir , i completely agree with you. I have read Trade mgmt by Spec sir where he had elaborately discussed partial profit booking depending upon Position Size with examples.

But most of newbies like us often get confused regd. Timing entry/exits, Pivot identification and RSI OB/OS inference. So i thought keeping record of TSL as per ATR might complicate thing.
But going ahead once we are able to identify correct entry points, we will surely incorporate Exits based on TSL also.

Thanx for taking interest. Keep us guiding.

Rgds
Arjun

[newinvestor]

Great thread. I think this will help us learn with live example

[gambletrader]

JJM Bhai,
I find that Spec suggested 0.5 ATR for TSL in NIFTY FUT for 15 TF. Kindly advise that is still good enough or we need to have 1.5 ATR as TSL these days. ( I think it will depend on volatility of the scrip ) Please guide us.

Thanks and Regards,
Kishore

[Arjun20]

Thank you friends ,
Number of download of first chart within 24hours clearly shows that there are traders who are interested in SSPS. Now there must be some traders who are having genuine desire to learn and gone thru the SSPS theory.

Now, after understanding theory and before going to markets, let's practice it in this simulator. I'm sure everybody is having some doubts. Come, ask ur queries.

SSPS Alumni will surely help us.
Jai sir, JJM sir, sumesh, vinst, sanchit, khadilkar sir, infinity, venkat and many more.....pls guide us. Even if each of u guide us on couple of occassions, next batch will get trained

And i'm saying this, coz i'm having strong feeling that there are many anonymous traders who are serious in learning 'Practical' implementation of SSPS.

rgds
Arjun

ALL LEARNERS

[Arjun20]

Hello friends

Now as shown in earlier chart, on 18oct m'ning, NF-15TF breached earlier USP.
Hence we got new DSP as 5160 and we got start of downswing.

Now, we could have gone short as soon as USP was broken. But in that case recent swing high ( which is around 5130) is too far. So we will wait for rejection to go short.

18 & 19 OCT- Pls see Downtrend- chart-1

20-21 Oct :
Now, during these two days there were 2 'PROBABLE' short entry opportunities viz A and B.

Now, seniors i want your help here.

case A-

1. Should we have initiated short on close of candle A1 ?
2. Candle A1 failed to close below the low of earlier green candle.If A1 had closed below low of earlier green canlde, could we have initiated short?
( If entry was justified, then SL hit later..but it's a diff thing.We will first validate entry)

Case B-
on close or below low of which candle ( out of B1 to B5) we should have initiated Short?

Now Seniors, will u pls guide us as in both cases A and B, which was correct entry opportunity and which was wrong one.
(Also, correct me if i had gone wrong in interpreting chart.)
rgds
Arjun

( Seniors, we all learners are on diff levels of learning SSPS. So during starting period , it will be better if u can explain it in bit detail to help all. We mainly face problems in identifying correct entry points)

[Jai2000]

Arjun,

Point A is not a valid rejection- reason 14.30 candle didnt close below 8ema. As i've explained earlier, for better result always enter high/low of the rej candle.In this case A, yr entry should be below 14.30 candle, for B below 12.30 candle.(15Tf)

Regards,
Jai

[jjm]

[vinst]

[sandew]

Arjun,

You hv put up a good chart, and yr reasoning is in right direction.
Last Friday , simply put was a whipsaw day. The SL got hit. Entry for long was a valid entry. The SL getting hit was a valid SL. When in doubt seek confirmation on 60M.

As regards opening short, this too was valid, BUT not worthy enough to be carried overnight as 5011 was not broken.

For me the DSP can be considered to hv shifted down now to 5130

Have great trading. Spec has shared an invaluable system, and you have understood it well.

Sanjeev

[jjm]

[Arjun20]

[Arjun20]

Hello Frineds,
PFA-Today's chart

I really thank Jai sir and JJM sir for enlightening us.
( I understand sometimes it's duplication of earlier Queries. I really appreciate your enthusiasm)

Rgds
Arjun