iCharts Discussions

[Jai2000]

Spec sir,

One of the BEST day today for me.All of my 5 fav stocks & Nifty crosd 5TF pivots & all worked well as usual... Thank You! ( I exited NF short @5826 based on 5Tf pivot @ today trade just intra only)

Regards,
Jai

[Jai2000]

Sekhar sir,

2Tf NF Intra trading intrsting....will try to backtest & trade.

Regards,
Jai

[diwakar]

Spec

Thanks for your reply regarding EOD swing trading...

I got few systems for EOD swing trading.....

Please post some system if you have.......

I think copper is back to Downtrend now (30 mins)......

New Down Swing Pivot formed @ 438.75 (12/04).....

Can todays high (13/04 433.55) be considered as new Down Swing Pivot (433.55)....

Rejection from 34 EMA and new low also previous Upswing Pivot taken out (429).....


Regards,
Diwakar R

[Speculator]

Shekhar,

It's very interesting that my method works on 2-min as well. That's what i call customizing a method to one's comfort. Congrats !

Jai,

Congrats on your continued success. You are one of the best trader of my method in the 5-min TF.

Diwakar,

I am afraid of sharing any more methods here. If i do anymore, answering questions would become my full time occupation.


I am done with all the projects. I will keep posting the pivots everyday. You guys can get in touch with each other via PM and help each other enhance your understanding. I just don't have the bandwith and patience too (these days).


Good luck !

[diwakar]

Spec

Sure Spec.

If i find some strategy, I will post in forum.

Thank you very much for your efforts.

Please keep updating pivots.

Am sorry if I posted unwanted question to you.

Regards,
Diwakar R

[rainbow]

This thread is shaping up nicely.

yes, the 5tf 'customisation' of the original 15 tf 34 ema rejection of spec, by Jai is working wonders. I traded Axis n educomp too yesterday (went up 2% and 4% respectively) along with NF.

thanks, Jai and Spec!

Have a nice day

Cheers

[prabit]

[quote="shekharinvest"]

[jjm]

Dear Prabit,

Taking liberty of replying to your question on behalf of Mr. shekhar, which I feel is a way of confirmation of my understanding of system

we are in down trend with Dow swing pivot 5971. unless it is taken out will not be in up trend hence..

Entry pts for taking trade based on SSPS ( Speculator's Swing Pivot System)

A :1 if opposite swig pivot is taken out then wait for rejection.Once price retraces back to 34 ema..watch for valid rejection and take a trade

2.Look for candle to close below 34 ema .
3.there is -ve cross overs of emas (as per system for 15 tf 8 ema crossed 34 ema from top so - ve crossover )
4. Last candle closed below low of prior candle ..

Hence shekar has taken a trade in 2 min tf in direction of trade.. he waited for price to get rejected from 34 ema..
Here earlier Up swing pivot was taken out which was 5871.75

2. Prior opposite swing pivot is not taken out still if one wants to do trade in direction of trade..( we can call these as Contra trade )the rules are same & keep it simple

Y'day we got a nice contra trade which Jai has already posted in forum if price takes out 5971 we can say we are in up trend ..

Tomorrow we have to options
1. if pivot does not break then do trade in direction of trade. which is still down..wait for candle to close below 34 ema and below low of prior candle also watch for - ve crossovers of emas 8<34..
2. if pivot breaks wait for valid rejection and take a trade..or
3.Wait for valid entry for a contra trade like y'day and prey that it will break DSP 5971 so we can convert it into swing trade..

It is once perception whether he/she wants to trade only in dir of trend or wants to use system optimal way by using it for contra as well


Regards,
JJM

[manass]

Please help me to understand the details of some terms such as ATR, DSP..
Regards

[rainbow]

JJM:

nice post, thanks.

one query on

''A :1 if opposite swig pivot is taken out then wait for rejection.Once price retraces back to 34 ema..watch for valid rejection and take a trade ''

would it not be better to put a stop buy order for 5971 instead of waiting for a rejection? these kind of 'pivot breaking' trades I have found to be quite attractive. Please comment. this of course is just IMO.

off-topic, any more work gone into expiry related trades?

javascript:emoticon('')

Cheers
DJ

[prabit]

[prabit]

[jjm]

Dear Rain,

If we get whipshaw then ?? do not trade with any pre determined mind set..let the price speak..there could be three scenarios
1. Price opens at current level.. watch for valid rejection ..to have valid rejection either price has to retrace to 34 ema or consolidates giving cooling for 34 ema to catch the price..today 34 ema in 15 tf is @ 5880..
2. Price opens above 5971 and starts falling and takes valid bullish rejection then there are chances we might miss a good entry pt Had we take entry based on buy stop order at 5971 in this case you may get entry at 5940-5950. This will be a contra day trade if it takes out pivot hold it for swing
3.Opens above 5971 and vertically starts falling gets valid bearish rejection there are chance we might get stopped out had we taken entry base on stop buy order @ 5971

In current scenario if we get a gap up which i have not seen in recent time where in we get opening above DSP.. my observation even if we opens above DSP, price retrace back to 34 ema it is very rare case that price opens above DSP and keeps moving up..

As far as expiry related work I am done with my ground work..

For last six expiries It is KISS..watch pivots.. trade in direction of trade and have a contra trade at 14.00 -15.00 ..looking at current price movement there are good chances that we will have good trades for 6200..if u are aggressive then now itself buy deep OTM of 6100 CE which will give good returns..

On the day of expiry suppose we are trading at 6125 then morning we have to wait for price to decide the course for day either it will move up or down ..

This is little tricky either 6100 pe will be 3-4 times or 6200 ce ..based on price movement one has to buy PE or Ce.. last six months mkt has moved in direction of trend hence my bet will be to buy 6200 ce which will be @ 25-30 hold it to be 3 times then just do a contra by buying 6200 pe @ 25-30.. which will be min 3 times by 15.00

or price moves in direction of trend, it may not give contra trade and crosses 6200 ..

From MMP view : Buy 6200 CE if it give 3 times return . put only half of profit in contra trade so even if we do not get contra move we wont loose from our pocket.. max we will loose half of profit made in morning trade..

however all depends what trend it establishes on monday
one has to watch the price movements that starts 3 days prior to expiry..
that gives clear idea what will be the scene on expiry

Will shout in SB

Regards,

JJM

[rainbow]

Dear JJM:

Thank you for taking the time to post a lucid reply. really appreciate it.

I have a few observations.

1. Your point on pivot breaking and reversing is valid. However,
how often in real time does this usually happen? I remember spec saying on SB that a pivot break is like a 'dam burst' and i have taken advantage of those occurrences. traded in the direction of the pivot on break or when price is near the pivot. the recent occurrence at 5871/2 is one such example.

on a side note, Jai mentioned approx no. of likely points from 5tf, 15 tf rej and pivot breaks. Hope Jai might post this on the forum sometime on completion. (Jai, thanks in advance )


2. Invariably, except for rare instances of major news breaking, price does not open above/below pivot. maybe during the course of the day, but rarely on open. Maybe some one can comment on this point. (this is purely my opinion, and can vary)
3. price open above pivot and then moving up - not sure about this scenario, will defer to your experience on this.
4. and finally, since the trend is still down (below 5971) and you seem to be bullish now, or near to expiry, what moves you towards that bullish mindset?

and JJM, you seem to be nearing a doctorate on expiry related trades

your point noted, and will track 6200 ce for this expiry. (and also possible pe for contra, assuming trend goes up)

back to the drawing board for me..

Thanks again

Cheers

DJ

[Jai2000]

Shekhar,

It's very interesting that my method works on 2-min as well. That's what i call customizing a method to one's comfort. Congrats !

Jai,

Congrats on your continued success. You are one of the best trader of my method in the 5-min TF.

Spec sir,

Thank you very much for yr wishes & supports.
Jai.