iCharts Discussions

[sandew]

@ ShekharInvest : Hi, I dont know how to put across this, still doing a thankless act here. (1) Every time frame, from 1 second to 1 century will have a well defined Swing. 2 Min. Swing Trade does not match the 'flavor' and 'integrity' of this thread of which you are the origin and owner. Lets retain this thread on 15 Min. to 60 Min time frame; and for 2 Min. and others a fresh thread can be created. I wish you do not misunderstand my honest feedback as I regard your posts highly. (2) On personal note, why still be in stage of experiment, 2 Min, why gartley, why dragon - I think this Spec swing set up is sufficient as a trade strategy to hold for life long trading.

@ Speculator :

In one of your recent posts you referred to "simple EOD Set-ups" and then moved on. Can you share this EOD set-up, just short narrative and rules will be adequate.

Thank You Shekhar and Spec.

[rainbow]

sathya999:

do u think that 'geez' should be followed by some exclamation marks for effect

nothing much to do on a sunday morning till the match starts so major TPing.

no wait! some shopping to do.

enjoy the day, folks, and sathya, thanks for those charts.

Cheers
DJ

[Jai2000]

Speculator I had 3 losses in copper consecutive this week.
Speculator I was so frustrated. I tried a fourth one yest and that was also a loss
Speculator I took a fifth one yesterday and finally rode it for 10 Rs profit.
Speculator 4 RS loss and 10 Rs profit Net 6 RS for the week
Speculator This entire year i had not had 4 consecutive loss on either NF or Copper or any other base metals i trade.
Speculator If i had not taken the fifth trade, it would have been a bad week for me
Speculator Those kind of consecutive losses like 4 in a row don't happen very often
Speculator 4 losses in a row on the same scrip is very very rare for me.
(Copy Past from 8/4/11 SB archives)

Spec sir thanks for the very Open talk.But seriously i dont hav this kind of experience even in 5TF ,using yr system, neither my real trades nor backtesting. If possible can you pls attach the chart for us. Sorry for distrub u always.......

Thanks & Regards,
Jai

[rainbow]

My $0.02 here.

IMHO, i feel, Jai, this is because you do not trade the same scrip consistently, but ONLY those that give you a signal to buy or short.

You, as per earlier posts, trade one of the following:

NF/RIL/SBIN/Axis/Tatasteel/Tatamotors, and now educomp.

Will see if I can get you to add infosys to our list

A single scrip such as copper might not provide profitable trades each time,
and trading only those from a basket of scripts which give signals, even by 5tf
might be more profitable. This is purely my opinion, and has been reinforced by a trader in Chennai (meeting him in may).

this post is actually to convey the theory that choosing from a basket will
help in the 'law of averages' giving us an opportunity for a 'better' and more profitable trade.

Spec: as ever, your strategy provides lot of food for thought, along with the core strategy for every newbie (me included). THANKS!

and Jai, would like you to comment on infosys. wanted to tell you to just add infosys to your market watch on friday for your regular trades, missed out. big time. anyway, like T Rajendar says, 'matinee miss aana, first show'

Have a nice day, all, and a great week ahead.

Cheers
DJ

[Speculator]

Speculator I had 3 losses in copper consecutive this week.
Speculator I was so frustrated. I tried a fourth one yest and that was also a loss
Speculator I took a fifth one yesterday and finally rode it for 10 Rs profit.
Speculator 4 RS loss and 10 Rs profit Net 6 RS for the week
Speculator This entire year i had not had 4 consecutive loss on either NF or Copper or any other base metals i trade.
Speculator If i had not taken the fifth trade, it would have been a bad week for me
Speculator Those kind of consecutive losses like 4 in a row don't happen very often
Speculator 4 losses in a row on the same scrip is very very rare for me.
(Copy Past from 8/4/11 SB archives)

Spec sir thanks for the very Open talk.But seriously i dont hav this kind of experience even in 5TF ,using yr system, neither my real trades nor backtesting. If possible can you pls attach the chart for us. Sorry for distrub u always.......

Thanks & Regards,
Jai


>>>>>


The number of losses you have depends on your profit objectives. If you daytrade with small profit objectives, you will rarely encounter such losses. In that case, your win rate goes high and your risk/reward goes down.

If you are trying a swing trade, with larger profit objectives, then you would have more losses. In commodities, i trade for large swings.

Just check the Copper chart from April 4 to April 7 on 30-min.

1) After the gap down on Apr 4, there was pivot break. I took the pivot break trade (which i usually avoid and mostly trade rejections). Got stopped out.
2) Then 4/5 there was a upside rejection, which failed.
3) Then we broke the upswing pivot. There was a downside reject near the close on 4/5, which i traded on got stopped out on a gap-up next day.
4) Finally the 4/7 reject worked out.

[Jai2000]

Spec sir,

Thanks for yr time & reply.I dont trade commo right now, due to time problem, that's why i hav asked charts.Anyway I got the point from yr answer & thanks for valuable explanation.

Regards,
Jai

[shekharinvest]

[Jai2000]

Jai, this is because you do not trade the same scrip consistently

Rain,

hello, I do trade all my fav stocks consistenly & results also too good. This month out of 9 trading days- Axis had given -5gud trades, 3 Nosignal days & 1 Sl hit, SBIN-6 gud ,2 Nosig,2 SL (1day 2 signal), Tatasteel- 8gud, 1Nosig, 1SL (1day 2 signal), tatamotors- 6Gud, 2Nosignal,1 SL . i'm more comf with my current trading @5TF. But as Spec sir mentiond, i didnt meet that kind of situation not even @backtesting too.But i realize after his answer.
The number of losses you have depends on your profit objectives

my targets are just 0.70 to 1% only for intra. Rain i added Edu after yr rec only9Tks) but infy i'm not intrsted.I backtested that stock long back, it's not good for intra day trade. Thanks.

( today's Sekhar sir's Nifty 2Tf pivot trading )
Regards,
Jai

[aromal]

[Speculator]

Nifty:

Since 7/4 we have been on a downtrend, despite all the wild swings in the market. One up day, no matter how big does not change the trend. We need to break the market established pivots to break the trend.

On 13/4 when we got this huge rally, someone asked me in SB if the trend had reversed. My answer was no, as the pivot was intact. At that point it would have looked silly, since it was a no-brainer that the market was headed to 6000+. But my system said it was still a downtrend. With lower lows established yesterday, it removed any doubts regarding the trend.

That does not mean to say a trade taken on 15/4 would have remained intact. No if one used a TSL, they would have go stopped out in the morning yesterday and got back in on the rejection again in the afternoon. The stopout in the morning would have given minimal profits, while the rejection in the afternoon would have given big profits. That's how swing trading is. Lots of small winners and breakeven trades, a few losses and some big winners. 2 big winners in month is all that's required to keep the ledger healthy.

15-min: Downtrending, Downswing Pivot 5947
30-min: Downtrending, Downswing Pivot 5947


Copper:

30-min: Downtrending, Downswing Pivot 420.35

- Speculator

[singh.ravee]

[Speculator]

No change in pivots for both NF and Copper

Nifty:

15-min: Downtrending, Downswing Pivot 5947
30-min: Downtrending, Downswing Pivot 5947


Copper:

30-min: Downtrending, Downswing Pivot 420.4

- Speculator

[tripathi_manu]

[Speculator]

[diwakar]

Spec,

Copper...

Downswing Pivot taken out 420.4 (High 420.85)...

New Upswing Pivot 416.2 (30 mins)....?

Awaiting for your comments and pivots..

Regards,
Diwakar R