iCharts Discussions

[sonila]

Forex, we can use ramesh raja's gann table in following manner. On 9march, u sold nf at 5337. Now the lower green no in table is 5324, so this 5324 is supposed to act as strong support. Actually thid happened also. Nf gone down to 5326 then moved higher. So i think u should have booked at 5332 range without waiting upto 5352. Again u bought at 5352. Now the next higher green no is 5368. So nf is expected to get resistance at 5368. Actually nf gone upto 5372 and then reversed back. Likewise i checked this for other dates and found this table is very good for pft bkg. I request u ,u also backtest and let me know ur view.

[n_k_sachdev]

Why dont we just follow sqaure of 144. as simple as that.

[sonila]

Sachdev, can u explain, plz.

[ProTrader]

forexmoney...sonila..olease do not use the forum as instant messenger. it adds unnecessary volatilitty to posts.


thanksss..pt

[Gemini]

For the people who are interested in poer of 44, following stocks have crossed / are very close to cross 44 with high volume today. (Generally, positive movement with high volume indicates upward momentum): Kolte Patil ( 43.30), L&T Finance (48.95), Manugraph Industries (47.45), BF Investments (49.75).

One can observe price at @ 3 pm and take decision with appropriate stop loss level.

[vinst]

nifty 5100 CE: opened too high above trigger of 309. wait for retracement below 264 and buy.

nifty 5300 CE: bought at 167. SL set to 88.

nifty 5500PE: bearish. buy setup if closing abv 220

[acharyams]

[vinst]

[acharyams]

[vinst]

[n_k_sachdev]

[vinst]

Nifty:
5100 CE : closed abv 352, revised SL to 264
5300 CE : closed exactly at 220 ! SL revised to 132
5500 PE : bearish, buy setup if closing abv 176 (132 is too close ?)

[pvramesh]

Dear Vinst
In my opinion you are not exploiting the 44 system correctly and misguiding the traders.You are most concerned in where to keep stop loss rather than how to make use of present trend for trade benefit.Stop loss is only protection to avoid huge losses if market unexpectedly reverse once you entered the trade . By keeping stoploss of 88 points in your case, you are taking a huge risk of loosing your capital which any trader will avoid and try to get out of the trade with small loss once market trend reverses from his expectations. You are advocating to stick to the position even if market goes opposite direction for nearly 100 pips! To support my theory with your example, 5100CE opened at 365 which is above 352 and the market was uptrend yesterday. So one can buy at the level expecting to reach next level i.e. 396 with a stop loss at 341 as per 44 theory. It went high upto 392. Even the low was 354 above 352. No loss even if any trader wants to carry his trade next day. Next 5300 CE, it opened at 189 , above 176, market in uptrend, expect to touch next level of 220 with a stop loss at 176. It went upto 225 yesterday with low of 189. Again no loss even if you carry your position for next day. Regarding 5500PE, it opened at 150, market in uptrend, one can expect PE to fall. So any trader will try to short rather than go long for this. Actually yesterday it went to a low of 123 from 150 below 132. Had any trader followed 44 number theory he could have made decent profit. I am not criticising you sir, but only giving my idea how 44 theory can be utilised. I request all the traders think for a while and act accordingly

[forexmoney]

gm vinst.rr.

[forexmoney]

guys,tel me onething du i have tu buy\sell nifty fut at 3.25 fr delivery also fr example yesterdays buy was at 5456.so in this case du i have buy only at 5456 on closing basis or watever rate i get on closing basis abv 5456? pls guide