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Trading Levels for 15.05.2009 |
SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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Post: #1  Posted: Thu May 14, 2009 11:31 pm Post subject: Trading Levels for 15.05.2009 |
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Trading Levels for 15.05.2009
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Srikanth Kurdukar
@SwingTrader |
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LifeNMoney
White Belt
Joined: 12 Jan 2009
Posts: 4
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| Post: #2 Posted: Fri May 15, 2009 1:35 pm Post subject: Thanks! |
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Hi PT : Thanks for posting Bank Nifty levels. Your levels Rock!!!
Best Regards. |
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NORBE_1958
White Belt
Joined: 11 Feb 2009
Posts: 36
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| Post: #3 Posted: Fri May 15, 2009 6:21 pm Post subject: |
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Today was great ,you did mention that STS would also show the trend
which is the best settings to be used. |
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GAJRAJ
White Belt
Joined: 02 Sep 2007
Posts: 17
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| Post: #4 Posted: Fri May 15, 2009 9:15 pm Post subject: WHIPSAW ON THE LEVEL |
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Sir Kindly explain how to handel whipsaw on the level , 
Today in NIFTY-1M between 11.30 & 1.45 the buy & sell signals apeared twice at 3657 level
first at about 12.10 i bought on two closes above the level & SL hit when two closes below the level were hit at 12.50. 
Than when two closes below the level were hit at 1.15 i sold this time again SL hit when it went up finally at 1.50. |
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SwingTrader
Site Admin
Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #5 Posted: Sat May 16, 2009 10:30 am Post subject: Re: WHIPSAW ON THE LEVEL |
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| GAJRAJ wrote: | Sir Kindly explain how to handel whipsaw on the level ,
Today in NIFTY-1M between 11.30 & 1.45 the buy & sell signals apeared twice at 3657 level
first at about 12.10 i bought on two closes above the level & SL hit when two closes below the level were hit at 12.50.
Than when two closes below the level were hit at 1.15 i sold this time again SL hit when it went up finally at 1.50. |
When you are long and you get a short signal, it does not mean your SL is hit. Your SL is hit when your initial stop loss level for the trade gets hit. Your 12:10 long trade's SL was midway between R1 & Bull which got hit only on the 1:15 bar. The next long trade was initiated at 1:50 which went on to be successful.
Once you enter a trade you WILL have to wait until your SL is hit....forget about other buy/sell signals until then.
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Srikanth Kurdukar
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sandew
White Belt
Joined: 02 Feb 2009
Posts: 174
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| Post: #6 Posted: Sat May 16, 2009 11:39 am Post subject: |
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Hi,
i read the May 15 chart nifty 1m , 5 minute tf very differently.
1. levels were 3632,3657,3673
2. entry long at 1145 hrs at 3648 with stop loss below 3632 - which never got hit.
3. another long at 1355 hrs at 3667
4. short at 1500 hrs at 3671 ( by this time longs were covered) - whenever i see a short i cover my long without looking which leel it is - for me a short signal means book profits / cut losses without waiting for next level or the stop loss.
Yr views please
sandew |
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sandew
White Belt
Joined: 02 Feb 2009
Posts: 174
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| Post: #7 Posted: Sat May 16, 2009 11:44 am Post subject: |
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may i add my last short recoiled and has technically not yet hit the stop loss ( it is different matter i covered it at higher levels before close)
ps.i also had earlier covered my 2two long when nifty crtossed level 3673.
regards
sandew |
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