LIVE Trading on this thread

[Vertigo_1985]

Normally if i see such a setup , i assume that it will end at the highest point , i 1st observe the 1st up leg if the retrace ment is less and it starts basing thats when i load up

seems like TITAN is going to end near high of the day.

 

[Vertigo_1985]

do they even know what they are talking about ?

http://www.moneycontrol.com/news/cn...ing-slump-post-mgmt-clarification_923219.html

 

[ryan4ucar]

Hi ryan,
There was fast upmove in Finantech in morning, then a fall for 51 min( 3 min tf and up) in which it didn't break candle high. In moves like these as there is sufficient volatility can we enter on break above candle high for a scalp? Condition for trade :-
1. Big move in one direction.
2. Retracement in which high/low of candles is not broken in uptrend/downtrend respectively for considerable amount of time( more than 15 min say).
3. Premise is that as high of the candle breaks in pullback in uptrend there would be some profit booking, some new buyers entering, so some orderflow would be expected in long.
Trade will be a scalp as we are trusting the momentum and more positions could be added later if it forms a base there.

Regards

Not sure if i understood you clearly may be you can put up a chart later , here is how i traded it , 595 to 600 was my level to short in the morning today
i got my alert at 595 it quickly went to 600 and startes to come down i started to offer stock nobody gave me anything , i set a alert at 595 as i expected some support there it went below 595 again same story din getany stock on offer i din chase it and reset 595 as level to my suprise it came back and started blasting up , i was waiting for news there was nothing my next level was 631 at 9.50 there was a pull back from 620 to 614 and it stated going up quickly it went up so fast that when price was showing 618 and i put agresive buy for 620 all i got was 10 shares .. this is when you realise its very very sstrong but again i din chase it at 640 the volume went crazy this is the fist sign of exaustion , the stock came up then came down quickly.. when fast up moves take place i like to scalp for reverse moves as the late party poppers will be in trouble , i always reverse a position when volume is at the crazy highest , then on a 2 min cgart after the fist red candle i look for a small consolidation i got shot at 639.5 something then after break ogf the consolidation i added lower target was 620 , in the 1st spike down i got out 1/3rd of position at 633 and held the rest , i dont like adding here and i always play small size as this is against the trend trading then as the stock reached 620 instead of getting out i kept a alert of 622 trying to be greedy ... for which i payed getting out at 625 , as there was no base getting formed i still had a short bias , but later on the base biulding process i started a long position.

about shorting at the top everyone has their own way , may be what you described can work.. mine is judging if the momentum is over and if risk reward is good for reversal , essental part is to get out quickly if it again turs out to be a pulback .

same trade was for pcjeweller today , although i was s*** scared of a upper circuit hit

P.s this can suddenly go crazy for the kind of news it had so far away auto stops are advised

 

[ryan4ucar]

do they even know what they are talking about ?

http://www.moneycontrol.com/news/cn...ing-slump-post-mgmt-clarification_923219.html

They are circus people to say the least they love entertain ment , not suree the stock gapped down 17% heheh .. the best thing i love about them is after the move is done and dusted they alwys seems toknow the news about possibly y it happened ... i use them the reverse way to get out of my hugely profitable positions

 

[ryan4ucar]

seems like TITAN is going to end near high of the day.

I wanted to keep some stock overnight tom , decided against it later

 

[Vertigo_1985]

Not sure if i understood you clearly may be you can put up a chart later ,

Trades are to be taken only for scalp.

 

[ryan4ucar]

Trades are to be taken only for scalp.

Oh ok now i understood u , i dont do that man ...scalping against trend and momentum trades i do only when a stock goes crazy and a lot of volume comes in thats when the chances of profiting are most ... after the volume dies down moves can be eratic , that spike you saw will not be sustained most of the times and hence over many samples the results will be maybe small profit to breakeven to losses ,
The other thing is ull be spending a lot for energy waiting for it and when it comes the prices will be running away and finaly when you get in you wont know where to get out as there will be no follow through momentum.. this is all theory from my side you can test it for yourself by trading it ...when volume comes in thats the real edge in low volume its difficult to trade , i got out in that spike and then as higher prices were held i chaged bias to long and got back long in the consolidation.


P.s If that spike stalls for a while and then again momentum picks up i might put a trade on

 

[ryan4ucar]

So ameet what ese you traded today?

 

[Ameet148]

So ameet what ese you traded today?

not much, only sesagoa and centurytex

 

[ryan4ucar]

not much, only sesagoa and centurytex

k ya sesagoa was good and trending , you were long ryt?