New Intermed Uptrend!!

[cube]

oops i missed it
thanks cube for ref


any way today its down by more than 5 %

Ya dude.

Saint what should be the stop loss for alstom?


Thanks,
Cube

 

[Saint]

pardon me for asking a basic question, but how do we compute a stop. Is it the last pivot point or the medium term moving average or something more complicated??

Mohit

Hi Mohit,

Many ways actually......some use a break in trendlines,others a break of the previous pivot,and others a break in ma's.I follow trends and make my profits just latching on to the market move.So for me, a previous pivot low is all important.

A crack below that and that's it for me.I am out of that trade.So my stops are always just below the previous pivot low.

If trail stopping upwards,my stop would be the low of two bars ago.

Saint

 

[mgirotra]

Dear Saint

Request your views on the following for fresh entry

GodrejJCP
SAIL
ZENSARTech

thanks
Mohit

 

[mgirotra]

Hi Mohit,

Many ways actually......some use a break in trendlines,others a break of the previous pivot,and others a break in ma's.I follow trends and make my profits just latching on to the market move.So for me, a previous pivot low is all important.

A crack below that and that's it for me.I am out of that trade.So my stops are always just below the previous pivot low.

If trail stopping upwards,my stop would be the low of two bars ago.

Saint

Thanks Saint

Another question linked to this.. How do you know when to start applying trailing stops??


Also from whatever I have read here and in some basic books, a successful approach seems to be:

1. Find a good entry point based on a couple of simple indicators like Pivots mentioned by you, MACD and ADX(to ensure it is an upward trend) .
2. Try keeping the entry point as close to the last pivot low as possible
2. Define an stop exit below the last pivot low
3. If the market moves up keep applying trailing stops
4. Exit whenever a stop is hit (pivot stop or trailing stop)

It surely cant be this simple.. What am I missing??

cheers

Mohit

 

[ragh_ash]

Thanks Saint

Another question linked to this.. How do you know when to start applying trailing stops??


Also from whatever I have read here and in some basic books, a successful approach seems to be:

1. Find a good entry point based on a couple of simple indicators like Pivots mentioned by you, MACD and ADX(to ensure it is an upward trend) .
2. Try keeping the entry point as close to the last pivot low as possible
2. Define an stop exit below the last pivot low
3. If the market moves up keep applying trailing stops
4. Exit whenever a stop is hit (pivot stop or trailing stop)

It surely cant be this simple.. What am I missing??

cheers

Mohit

hi mohit,
most of things in life are v simple. it is us that make it more complicated.
Plan a trade
trade to plan
doesn't matter what u use:MA, ADx whatever for trade and whatever stoploss u use %, fixed, count back
all make sense
just try and stick to ur system
(easier said than done)
cheers

 

[prashant_bpl]

hi saint keep up good work.its wonderful that u r sharing ur knowledge. i am new to this site and first time posting my views.keep it up

 

[prashant_bpl]

hi saint can i take exposure in IVRCL at the current level for a view of 12 months? thanks

 

[Saint]

Thanks Saint

Another question linked to this.. How do you know when to start applying trailing stops??


Also from whatever I have read here and in some basic books, a successful approach seems to be:

1. Find a good entry point based on a couple of simple indicators like Pivots mentioned by you, MACD and ADX(to ensure it is an upward trend) .
2. Try keeping the entry point as close to the last pivot low as possible
2. Define an stop exit below the last pivot low
3. If the market moves up keep applying trailing stops
4. Exit whenever a stop is hit (pivot stop or trailing stop)

It surely cant be this simple.. What am I missing??

cheers

Mohit

Hi Mohit,

As for question 1,the moment we have taken out the previous pivot high.When that happens we move the stop to the previous pivot low,which would be near to break-even from the entry point,and then so on so forth.

As for question 2,...........sorry to disappoint you,my friend,well that's it.It is that simple,and then huge profits are made in applying this very simple procedure day in day out with proper money management.If there is any difficulty,sometimes,it is to keep things simple.

Saint

 

[Saint]

hi saint can i take exposure in IVRCL at the current level for a view of 12 months? thanks

Not yet,Prashanth,just let us see how the next few days pan itself out before making any decisions.

Saint

 

[Saint]

hi mohit,
most of things in life are v simple. it is us that make it more complicated.
Plan a trade
trade to plan
doesn't matter what u use:MA, ADx whatever for trade and whatever stoploss u use %, fixed, count back
all make sense
just try and stick to ur system
(easier said than done)
cheers

Great stuff,my friend!

Saint