| View previous topic :: View next topic |
| Author |
Swing Trading by Gann Methodology |
dhavalparag
White Belt
Joined: 01 Nov 2008
Posts: 28
|
Post: #601  Posted: Tue Apr 16, 2013 10:24 pm Post subject: |
 |
|
RR sir,
You are right that some times we are in good amount of profit and tgt is very near and wait for final tgt.But its upto a person whether to go for it or booked it. i think you are right that one should respect the market and trade accordingly. irrespective of your position. we should follow the trend. sudden drop of gold price , crude and inflation bring mkt in limelight on upside. now its bear who trapped in mkt may be too early but time will tell.
thanks again for update.
l |
|
| Back to top |
|
 |
|
|
|
vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
|
| Post: #602 Posted: Tue Apr 16, 2013 10:30 pm Post subject: |
|
|
Dear RR Sir,
Followers need to use your profit booking with more than one lot.
Only other alternative I see hourly pivots to be used a TSL which would be entirely up to the user of your advice and re-entry should not be raised as a question.
I do not know any other way.
regards, |
|
| Back to top |
|
|
falcon
White Belt
Joined: 17 Nov 2011
Posts: 211
|
| Post: #603 Posted: Wed Apr 17, 2013 2:48 am Post subject: |
|
|
| rameshraja wrote: | I need the comments for the following from Mr Vinay / Mr Falcon / Mr Just trade and other members who follow this thread..
Stocks / Index may miss sometime the targets given, but it could have moved substantially from entry level either from short or long.
Take the example of ICICI Bank short.. It fell from short entry level of 1046 and also from midpoint level of 1062 to 984.. So also if you look at Excel sheet of Mr Falcon, he has shown Dr Reddy SL hunted for short initiated at 1810. Whereas, DR reddy fell by Rs.84 from 1810 to 1726 in four days and stock missed to achieve target.
In such a situation like the above, what should a trader do ? Secondly, how Mr Falcon planning to show in Excel sheet of the above movement.
Kindly advise me.
Thanks
C T RAMESH RAJA |
Dear Ramesh Raja Sir,
I was all the time conscious of the fact that my Excel sheet has taken a lot of sheen off your brilliant recommendations. Actually I had included (1) a column for potential profit a trader would have made in these calls of missed targets (2) a column where a trader could have made excess profit even after reaching the target, (3) the date the trade was triggered, (4) the date target was achieved and (5) number of days taken to reach the target. After spending a considerable time, I have removed them because scrolling left and right in a horizontal direction makes you lose your focus easily and I wanted to keep the Excel sheet as simple as possible.
But yes, I will now add a column called "Potential P/L(%)" in which I will record both profits that a trader could have earned in calls for missed targets as well as profits a trader could have earned in calls where the targets were exceeded.
I sincerely feel that one should trade with at least two lots and book profits at 50% or with three lots and book profits at each one-third of the target price as these calls are given on EOD basis and some may take a considerable time to reach their targets.
Regards,
falcon
P.S: Let me upload the revised Excel sheet during this weekend. |
|
| Back to top |
|
|
Just Trade
Brown Belt
Joined: 15 Nov 2007
Posts: 2388
|
| Post: #604 Posted: Wed Apr 17, 2013 7:57 am Post subject: |
|
|
RR Sir
Like you have rightly said you trade in multiple lots like many of us including myself wherein we book our profits partially when we see profit and trail the balance. Trading is a business SIR and this is the only way to do business.
This is the best way of trading and ensuring that we make money out of every trade. Targets are given as guidance by you. It is for the person who is trading to understand this and book profits.
With all due respect Sir the day a TRADER stops chasing levels/targets and starts to treat TRADING as a business he will start to making money.
When you get into a trade one needs to understand how much of money he wants to make. Once he makes that money he should be out and not bother how much more he could have done if he held the position.
Through your years of research and expertise you are giving all of us in this forum a chance to due business and make money. Opportunity is knocking at our door. Now it is for the individual to treat this knocking as noise and let it go or grab this opportunity and treat it as music.
Best Regards
JT
| rameshraja wrote: | I need the comments for the following from Mr Vinay / Mr Falcon / Mr Just trade and other members who follow this thread..
Stocks / Index may miss sometime the targets given, but it could have moved substantially from entry level either from short or long.
Take the example of ICICI Bank short.. It fell from short entry level of 1046 and also from midpoint level of 1062 to 984.. So also if you look at Excel sheet of Mr Falcon, he has shown Dr Reddy SL hunted for short initiated at 1810. Whereas, DR reddy fell by Rs.84 from 1810 to 1726 in four days and stock missed to achieve target.
In such a situation like the above, what should a trader do ? Secondly, how Mr Falcon planning to show in Excel sheet of the above movement.
Kindly advise me.
Thanks
C T RAMESH RAJA |
|
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #605 Posted: Wed Apr 17, 2013 8:07 am Post subject: |
|
|
| rameshraja wrote: | I need the comments for the following from Mr Vinay / Mr Falcon / Mr Just trade and other members who follow this thread..
Stocks / Index may miss sometime the targets given, but it could have moved substantially from entry level either from short or long.
Take the example of ICICI Bank short.. It fell from short entry level of 1046 and also from midpoint level of 1062 to 984.. So also if you look at Excel sheet of Mr Falcon, he has shown Dr Reddy SL hunted for short initiated at 1810. Whereas, DR reddy fell by Rs.84 from 1810 to 1726 in four days and stock missed to achieve target.
In such a situation like the above, what should a trader do ? Secondly, how Mr Falcon planning to show in Excel sheet of the above movement.
Kindly advise me.
Thanks
C T RAMESH RAJA |
Mr. Raja, unfortunately I don't consider myself qualified to give advise on this issue (or any other strategy for that matter) since I don't have any "gyan" about gann (or any TA in general). However, I will post below what I feel based on the doubts that I have :
1. You always use the language "price needs to do validation for buy signal by crossing today's high. Buying can be initiated after validation at Entry level or at midpoint between entry and Stop." Can you give a detailed example by giving fictitious levels? Perhaps one of the answers lies there.
2. You have also stated that "Trailing of stop is not possible until the stock meets time (again)". Can you explain this also in detail?
3. Is it not possible to use fibo levels to identify target stages, which can then work as TSLs?
4. Is it not possible to go down to a lower tf for a cross check using gann (your system) only for likely signals of a reversal in immediate term? And also larger tf for confirmation of the original trend even if trend reverses suddenly in immediate term? Sometimes, sudden events can cause reversal e.g. most SLs of shorts were hit yesterday due to collapse of commodities, which gave hopes of current account deficit and inflation going down and larger rate cut by RBI. This would have appeared on lower tf and alerted a trader of possible reversal. A sudden, unforeseen event can always cause such sharp reversals in immediate term.
I will post more if I think of something but I also need my above doubts to be cleared.
I hope I have made some sense. |
|
| Back to top |
|
|
rameshraja
Expert
Joined: 24 Nov 2006
Posts: 1121
|
| Post: #606 Posted: Wed Apr 17, 2013 8:34 am Post subject: |
|
|
Mr Vinay and others
Thanks for your response and reply.
Mr Vinay, I will reply to your query in detail after trading hours. |
|
| Back to top |
|
|
rameshraja
Expert
Joined: 24 Nov 2006
Posts: 1121
|
| Post: #607 Posted: Wed Apr 17, 2013 8:36 am Post subject: |
|
|
ONGC Future:
Buy ONGC Future around 328 with Stop at 310 as per EOD close. TGT 390 - 415.
C T RAMESH RAJA |
|
| Back to top |
|
|
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
|
| Post: #608 Posted: Wed Apr 17, 2013 8:45 am Post subject: |
|
|
| rameshraja wrote: | Mr Vinay and others
Thanks for your response and reply.
Mr Vinay, I will reply to your query in detail after trading hours. |
You are welcome Mr. raja. No hurry. you can do it during long weekend also. |
|
| Back to top |
|
|
akoundinya
White Belt
Joined: 14 Jan 2008
Posts: 6
|
| Post: #609 Posted: Wed Apr 17, 2013 8:52 am Post subject: |
|
|
Hi Mr. Raja,
This is regarding your recommendation on ONGC Future. Does this require further validation or it is already validated.
Please clarify.
Thanks |
|
| Back to top |
|
|
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
|
| Post: #610 Posted: Wed Apr 17, 2013 8:55 am Post subject: |
|
|
I also dont have knowledge about Gann.
I guess it's not always possible to be able to maximize the gain.
But if weekly supports and resistances can be identified and the course of nifty and bank nifty, one may know what movement chances are better.
Like incase of ICICI there was good weekly support @ 980. And there was good weekly support near 5450 for nifty spot... it would have resulted in bounce back in both nifty and the stocks even though it bounced from 5477 spot. |
|
| Back to top |
|
|
rameshraja
Expert
Joined: 24 Nov 2006
Posts: 1121
|
| Post: #611 Posted: Wed Apr 17, 2013 9:02 am Post subject: |
|
|
akoundinya
ONGC need to validate Buy Signal. |
|
| Back to top |
|
|
dhdaarya
White Belt
Joined: 13 Apr 2012
Posts: 38
|
| Post: #612 Posted: Wed Apr 17, 2013 9:02 am Post subject: |
|
|
RR sir
namaste
I m regular reader of this forum and SB got so much imp info about trading
I do trade with my own style, but I appreciate your work.
with ongoing discussion about TGT (missing) and profit booking i suggest(if u don't mind) one can use no. of points method( that is predecided) |
|
| Back to top |
|
|
rameshraja
Expert
Joined: 24 Nov 2006
Posts: 1121
|
| Post: #613 Posted: Wed Apr 17, 2013 9:08 am Post subject: |
|
|
Please understand that its not always Targets are missed. But when sudden change in trend of market like yesterdsay takes place, it may miss the target levels.
Keep rocking !! |
|
| Back to top |
|
|
falcon
White Belt
Joined: 17 Nov 2011
Posts: 211
|
| Post: #614 Posted: Wed Apr 17, 2013 9:17 am Post subject: |
|
|
| A buy on KOTAKBANK-1M seems to have been validated just now. |
|
| Back to top |
|
|
Just Trade
Brown Belt
Joined: 15 Nov 2007
Posts: 2388
|
| Post: #615 Posted: Wed Apr 17, 2013 9:21 am Post subject: |
|
|
Sir IndusinBnk Short @ 420.50 
JT |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
