iCharts Discussions

SwingTrader · Posted: Sun Jul 12, 2009 11:04 pm Post subject: Trading Levels for 13.07.2009

NIFTY FUTURES Trading Levels for 13.07.2009

R5 4309.55
R4 4211.55
R3 4177.65
R2 4113.55
R1 4090.40
BULL 4053.00
LOC 4004.00
BEAR 3955.00
S1 3917.55
S2 3894.40
S3 3830.30
S4 3796.40
S5 3698.40

sandeep_kalwan · White Belt Joined: 16 Jun 2009 Posts: 4

Hello ST

Today first time i was trading as per your levels. i was confuse where to put stoplosses.

It would be better if you will expain how to use u are levels on todays graph. it was tought day for me.

Thank you in advance.

Sandeep shinde

SwingTrader · Posted: Mon Jul 13, 2009 8:44 pm Post subject:

Sandeep,

Please watch the levels on the chart for a while before you start trading. Please go through the EMA filters post that I have written to filter out bad trades. I have specified clear rules for stop losses so please go through my guidelines and the EMA filter post for the rules (these are the first posts in the forum).

As for today it was more or less pointless, you would have got one or two trades at the most with marginal loss or very less profit. There is no point trying to analyse such days.

*** Please read Jimmie's thread titled "Price & Action" under the "Market Direction" category of forums for some solid guidelines to trade using any levels (not just mine). Please understand that levels are excellent supporting tools. One needs a method to identify trades, once you have done this (Jimmie's thread has few examples, so does my thread) you can use levels to support this.

Please stay tuned, I will again start to post regularly here once I am free. I have been a bit busy recently so didn't get time to post.