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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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Post: #196  Posted: Sat Feb 11, 2012 9:50 am Post subject: |
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dear jai,i dint quite get it silver new usp is 57712,so cn v short with a stoposs of this figure,
regds rashmi
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kiranlegend
White Belt
Joined: 21 Apr 2011
Posts: 73
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| Post: #197 Posted: Sat Feb 11, 2012 10:03 am Post subject: |
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Dear Jai2000,
it's been long since i spoke to you.. how are you? 
what ema u use for hourly? 13? and do u trade eod too? 8 or 13 ema? when u make contra trades say long as per ssps in 5tf, u wait for rsi to be in os or come out of it i mean? and partial exit when it is ob? and or u take contra trades only when either dsp or usp is very far away? or u don't take contra trades at all?
Jai bolo Jai ko
cheers
Kiran
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #198 Posted: Sat Feb 11, 2012 1:21 pm Post subject: RE- Silver Pivot |
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Ragarwal,
If u hv enterd ystrday's rejection @57300 , market moved nearly 900 points from there & yr TSL become 57716. Better wait for 2mrw's market open & trade accordingly. 15 & 5Tf s are in different trends so you can wait to break 57716 or 56411. Break 56411-can get lower pivot in 5Tf, Break 57717- 15& 5TF will enter in same trend.
Jai
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ragarwal
Yellow Belt
Joined: 16 Nov 2008
Posts: 582
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| Post: #199 Posted: Sat Feb 11, 2012 1:46 pm Post subject: |
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| thnx jai
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #200 Posted: Sat Feb 11, 2012 1:55 pm Post subject: RE |
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Legend,
hello! I'm fine, Tks! Wish u too!
Kiran, I dont trade EOD, my max limit is upto 15TF only (small trader  )! I cant get this "contra trade" subject  .For Nifty/stocks/crudeoil i enter based on 15Tf's trend & using 5TF pivot to exit.In silver 95% trading based on 5TF trend. As i explaind many times ,to enter 5TF rejection RSI values are must! Ys as u said RSI5 should come out of OS for long entry- means atleast one candle must close below 30 (RSI5) . Ignore if the pivot created without OB/OS in 5TF. Only candle touching to 34 ema not enough for 5TF.RSI5 signals are must! you will get if u back-test it.Recent ex is 31/01/'12 (silverm) .Kiran i dont use RSI values to exit.Mostly my targets are towards new low/ high. 75% i'l book there & will add at next rejection.
Hope u r not confused wth my answer.......! lol
( 34ema is better for 60Tf too,whatever is stick anyone 34 or 13)
Jai
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kiranlegend
White Belt
Joined: 21 Apr 2011
Posts: 73
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| Post: #201 Posted: Mon Feb 13, 2012 4:21 pm Post subject: Re: RE |
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| Jai2000 wrote: | Legend,
hello! I'm fine, Tks! Wish u too!
Kiran, I dont trade EOD, my max limit is upto 15TF only (small trader )! I cant get this "contra trade" subject .For Nifty/stocks/crudeoil i enter based on 15Tf's trend & using 5TF pivot to exit.In silver 95% trading based on 5TF trend. As i explaind many times ,to enter 5TF rejection RSI values are must! Ys as u said RSI5 should come out of OS for long entry- means atleast one candle must close below 30 (RSI5) . Ignore if the pivot created without OB/OS in 5TF. Only candle touching to 34 ema not enough for 5TF.RSI5 signals are must! you will get if u back-test it.Recent ex is 31/01/'12 (silverm) .Kiran i dont use RSI values to exit.Mostly my targets are towards new low/ high. 75% i'l book there & will add at next rejection.
Hope u r not confused wth my answer.......! lol
( 34ema is better for 60Tf too,whatever is stick anyone 34 or 13)
Jai |
you are not a small trader, Jai.. you are an inspiring trader
i am not confused with your answer.. so u take ssps entries in 5tf based on 15tf trend.. hmm.. ok..
however i have three questions: 1) sometimes when usp is very far away and if we don't get bullish rejection in 15tf and in 5tf.. u just wait till u get next valid bullish rejection? that means u don't trade bearish rejection because trend is up.
2) when u trade in 5 mins tf, u said atleast one candle shd close below 30.. having said that u still take long entry when the candle close is above 34 and ema 8 of entry candle is greater than that of the previous candle?
3) what sl rules u follow? u put swing pivot as sl? if that sl is far away, u use 1 ATR to the high or low of the entry candle or one candle prior to the entry candle?
lol sorry for too many questions
Off the technical stuff discussion: do u watch SB?
cheers
Kiran
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #202 Posted: Mon Feb 13, 2012 7:36 pm Post subject: |
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| hello jai ji, i am also waiting for reply to query-3...
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #203 Posted: Mon Feb 13, 2012 8:02 pm Post subject: |
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Jai ji..this is nickel 15tf chart..it is in dntrend..& DSP is quite far (even 5tf dsp is also far)..I have marked 4 rejection entries (hope these are correct)..as well as their respective SL ( marked as 1a, 2a...)..is this right approach to enter) ..this is linked with query -3..
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #204 Posted: Tue Feb 14, 2012 4:27 pm Post subject: |
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| DSP in nickel(mini)----5tf--1025...15tf--1041
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Jaii
White Belt
Joined: 11 Sep 2007
Posts: 210
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| Post: #205 Posted: Tue Feb 14, 2012 5:29 pm Post subject: RE |
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Kiran,
I'm more comfortable with pivot points. I always use pivots as SL, & will adjust qty based on risk.
I always wait for Trend based Rej entry, i can wait hrs,days,weeks......for valid Rejection entry! No contra trades....
Ys you r correct abt rej entry!
(@SB- You know i paid first six months for "only SB" , learnt all from there only) 
Jai
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Jaii
White Belt
Joined: 11 Sep 2007
Posts: 210
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| Post: #206 Posted: Tue Feb 14, 2012 5:59 pm Post subject: RE |
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Smart,
hi, 4 rej entries......  .The first valid Dwn rej was 12.59/13.15 candle in Nickel! So yr entry should hav been @1032.50. Required New low was just few points away(1029.80). @17.59hrs we got new low@1029.20, now DSP become 1039. @19.45 hrs pivot point taken out, 6.50 points loss for us.1029.20 was USP, again it taken out on next candle itself.But didnt giv any up rej & price didnt move above pivot breakout candle. @21.49 we got downside rej at 5TF-@1023.You can book partial when we get new newlow(1014)& re enter(add) at next rejection.
Pls dont take rej entry @8ema always wait for 34 ema!
Jai
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #207 Posted: Tue Feb 14, 2012 6:42 pm Post subject: |
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Thanx for detailed & nice answer to my query..
Few things i would like to confirm again..
1. We may take 5tf rejection in the direction of 15tf trend..& use 5tf pivot as SL..(instead of rejection candle hi/lo...& this & that)
2. Conditions for rejection..lets say short trade
a) 8ema should be below 34ema
b) rejection candle should "close" below the low of previous candle
c) & rejection candle "close" should also be "below 34" & "below 8" as well..
Reverse conditions for long rejection..
Hope, my understanding is correct.. 
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Jaii
White Belt
Joined: 11 Sep 2007
Posts: 210
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| Post: #208 Posted: Tue Feb 14, 2012 7:42 pm Post subject: Re |
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Smart,
Fine!!!! One important thing about trading 5TF rej is,once the rej happend in 5Tf, the price may retrace to 15TF 34ema,or 30Tf 34ema(like last few days nifty doing) so always enter 50% of yr qty @5TF. Sometimes we can get best entry @5Tf(like ystrday Nickel trade) ,sometimes may not.........
For rej entry 8 ema can be anywhere either abv 34 ema or below.We need just close above/below 34 & 8ema and precandle as always!........
(btw Thank you, i've traded Nickel today after seeing yr query)
Jai
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #209 Posted: Tue Feb 14, 2012 9:08 pm Post subject: |
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #210 Posted: Wed Feb 15, 2012 10:16 am Post subject: |
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@ Jai..in this nickel 5tf chart...can we consider marked pt as valid DSP..??? here 34ema is touched but rsi5 was not OB..& you said rsi5 values must in 5tf..only 34 touch is irrelevant....[/img]
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