Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
76 comments:
Reposting.
Hi Ilango - looks like the 4th Wave scenario has completed.
Can we safely say we are now in the 5th wave? Only thing that
needs to be done is the faster retracement of the last drop.
Your comments pls :)
Also what is the open price - 5245?
Reposting
Sir can U give parameters for setting stochastics.
I have set 5,3
Yt should prefer for intraday 5 min chart?
GM Sir & frnds...
Thanks Yoda for that simple sheet...
regards
As U guide sir I plan
Buy 2lot @ DAy low ema
2 lot @week 5ema
2 lot @ above week high ema
strategy corect or need some change?
"So the strategy is buy closer to 5165-5200(+/-15)"
Ilango given correct level at "preview market".
@Ilango
Three months before i gave some comments in
this under name of "livenifty" for positional view.
I am biased by my position, but doesn't it look like the open was a spike, and it should go up from here?
Hai everyone
For the positional bull in nifty to survive this triangle breakdown should be a false one.
http://niftychartsandpatterns.blogspot.com/2010/06/triangle-breakout-in-nifty-futures.html
Thank you
yw, ka.:)
@rajagopal
Oh god, things get so confusing if they are not face to face.
it was not a challenge
it was simply a q to initiate a trade for a wishful target of 900
@ ALL
GM & Profitable Month End
" "If you will spend an extra hour each day in study of your chosen field, you will be a national expert in that field in five years or less."
KK
Open Price: 5219.15
@ Musti,
Your strategy is fine.
@ GG,
As NF has not cleared 5275 in quicker time, it is possible for another drop within "c" of 4th. But the lows will be closer to this one or could be truncated too.
@yoda,
Thanks for ur spreadsheet. Just to confirm - So you update at end of every hour. Then you trade using whether it is a LONG or SHORT and SLs ? And if it goes against you, then ur SL is hit ? Do you have ur success percentage ?
-- gd
@ illango sir
what is the significance of 5275 NF. how did u reach this number.
RP - no prob. That day i did not have the courage (conviction yes) to say Yes. Being my favourite counter picked up at every dip. Holding. (u know my target - don't laugh 1268 I tgt).
@ rajnish Kumar,
5273.90 was the last high of NF before this big drop to 5225 of this morning. Moving past that quickly gives a confirming guideline of a reversal.
Remember these are some of the guidelines. They may or may not work. But we look out for them.
And then there is 5286.70NF after a sudden drop yesterday intra.
Long paste from an email a while ago:
Results of my ema work for (9th - 18th Jun) are finally in!
First the best: 7 wins to 2 losses which is my best win:loss average
in a very long time! (The av. win amount was also always larger than
the av loss amount - again a first.)
Conditions: I randomly picked either the 5-ema or the 26-ema to trade
on - call it being intelligent or nervy, I felt I had to make the
choice. I also randomly traded on mininifty or nifty as I perceived
risk at that time which came to a ratio of 5:6.
My trades: comm=1840 profit after comm: 4,976
If I'd used the 5-ema with nifty50 alone or mininifty alone:
on n50 =12550, com=2250 profit - c = 10300
on n20 = 5020, com = 1080 profit - c= 3940
If I'd used the 26-ema with N50 or N20 alone:
on n50 = 11050, com = 500 profit - c = 10550
on n20 = 4420, com = 240 profit - c = 4180
So, although I I kept feeling I wasn't doing as well as the paper
trade at picking entry/exit points, I seem to have done very well,
kept very close to the max profit possible in the single-indicator
method.
And without doubt, 26-ema is better in a trending market like the last
10 days. You'd need a stoploss of 20 points in all other conditions to
minimize losses though. But 5 ema isn't so bad either, esp if your
brokerage is lower than mine!
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Anonymous said...
gm ALL
today, i think market might not make sharp move upwards till Europe opens, because today ECB is to see rollover of banks debt position, and if it fails, markets can tank again.
Take this into notice while trading.
June 30, 2010 10:21 AM
gm ALL today, i think market might not make sharp move upwards till Europe opens, because today ECB is to see rollover of banks debt position, and if it fails, markets can tank again. Take this into notice while trading.
Comment as: Edit Settings – Sign out
sorry, i don't know where that garbage with previos message comes with!
That was for gd. Even when you feel you aren't doing so good, the 5-ema method would leave you with a profit if you acquire discipline.
I think of it as a minimal stepping-stone to more complex work like Ilango's - slowly to learn one before more indicators, without wiping ourselves out of the market.:)
@ rajgopal
that s absolutely not a matter to laugh
if it delivered a 10 % i discovered a b/o in it @ 762
if i expect a further 10 % in 5 odd hours
if it itself has given a 8 fold return from a 241 to 1750 kind of level last year
why would anybody laugh
Dear @Yoda!
Don't show ur worksheet to anybody bcoz if someone don't believe ur words then how he will trust upon ur worksheet. The best thing is that Master trust in u so do continue ur sincere work as u were doing.
All d best,
KUMAR
lol@kumar, what we share is doubled.:)
@yoda and others,
I took the liberty to load Yoda's trading with EMA doc to Google docs and I have shared it with everyone ( view only ).
I have shared it to the world for viewing. If anybody objects, then I will share it only to explicit email addresses at a future time. As I am not available all the time, I might not be able to keep it current. Yoda, if you are interested, I can set you up with write access so that u can also update it. If interested, please send me ur email.
http://spreadsheets.google.com/ccc?key=0AllWKRfXQB-0dG1IWktaN25NWTVleXNVQ1kzNGNJSUE&hl=en#gid=0
Thanks
-- gd
yoda i didnt get it correctly..will u explain pls as simply. on excel sheet suggests to go short (26ema) as per it, one go short with sl 5283? and its with spot or future
@yoda,
What was your exit points ?
-- gd
Dear @Rochak!
Dont argue with Rg sir, he is the most senior member of this forum & u can not win him. he is the best so best to surrender before him either whole day u will not be able to concentrate upon ur work. He is most intelligent & not easily satisfied by newcomers.
Rgrds,
KUMAR
i guess nifty may take strong support near 5210 today(13d ema),so some buying may be done for intraday if nifty again dips near to this level,
and may move up for 5260-5288-5310 ,may see more correction in next 2-3 days for 5160-5180(55d ema) for a strong upmove thereafter for 5400 near levels.there after big fall (pending)may be seen which is expected by many...
please visit my blog
stockk4sure.blogspot.com
for niftys mirror image charts....just expecting nifty may follow the same path
@kumar
hey kumar it seems u miss this comment
"rochak parekh said...
@ rajgopal
that s absolutely not a matter to laugh
if it delivered a 10 % i discovered a b/o in it @ 762
if i expect a further 10 % in 5 odd hours
if it itself has given a 8 fold return from a 241 to 1750 kind of level last year
why would anybody laugh
June 30, 2010 10:32 AM "
else u would not have find me a guilty of arguing.
regards
one thing to notice, yetserday and even today, put writes ( smart players) are very confident of 5200 level. Very intersting and also they wrote 5400 call yesterday very agressively. I think now one has to see, are they going to reverse 5400 call writing??
Sir & Family
Gm..
sir..wht will mark it as a 5th..
(maximum observed option)
@San..good charts..
really introspecting
@gd,
You can make it downloadable - do what you will with it. Consider it yours, everyone.:)
You can exit or reverse on the next colour-change of ema.
@ravi,
You can set your entry and exit as per 5-ema (for quicker trades) or 26-ema (for longer trades, which is now at 5292). As long as you trade very close to the ema, you'll always profit.
Do it on paper first, ravi, and clear your doubts before you put money on it.:)
@ravi,
I've set it to Nifty Future. You can change it to spot if you prefer.
@yoda,
where do u get hourly vol info ?
-- gd
@gd,
Volume you can get only with Nifty futures, of course - Nifty itself is an index, so no volume on it. (Indiabulls has an hourly ticklist with volume, so hourly is convenient for me - maybe if you have a different ticklist, you can adapt the system to it.)
I am having some issues editing that doc i uploaded. Give me a few mins to resolve the issue.
-- gd
You can use the same format for single stock futures - just pick low beta ones at the start of the experiment!:)
@ Yoda, thank you for the file. As I understand from my updating the file, now 5hema is 5261 and i have taken a short at that area now. now my sl is very close 5265. this appaers to be a good entry? pl confirm.
yes, skmishra. But be ready to turn/reverse as soon as the 5ema turns green. The method assumes that the market is not predictable, but following Ilango and channeling (drawing lines on the chart) helps.
Ok. Thanks
The thing is, I expect the market to go up from here (I see today as the spike to push Nifty up), so I think shorts aren't a good idea right now, skmishra.
Still, just follow the colours and you'll be quite stress-free.
Sethu ji (Niftysparks)
Some how you always end up "in the line of fire"
Keep up the good work
@Fire
Hope we receive more warmth than heat!!
Its never too late to start trading..it will take time..3 years full time approximately
There is a video by linda raschke in youe tube...she says Elliot after conceptualizing his wave theory took around 3 years to make it practical!!(hope I remember the facts right)
Will post the link by evening...just enjoy the journey and spread warmth
@Ilango
Now tat you have added the EW link...I will look to learn EW in 3 days...need to outperform Elliott...for some much need ego massage!!
Sorry for the issues earlier with Yoda's doc. I think I have resolved the issues. Please try this link now.
http://spreadsheets.google.com/ccc?key=0AllWKRfXQB-0dGxvTGstZEI4bGk2M2tqeEF4MG1TalE&hl=en&authkey=CKqJzuoN
Thanks
-- gd
@ Yoda,
I went through your file. I am impressed by its simplicity and "stress buster" factored for beginners and those who would like their trading to be relaxed.
I would appeal to MOK to add more formating for the highs/ lows and any improvements to the chart.
I will put a link at the top rightside for regular use by the readers.
You popularised SAR and Now a simple ema trading.
yoda
thanks for the spread sheet
would be grateful if you could tell how to update it automatically from nse site ...
i have no clue in respect to this
thanks
raju
ty Ilango, all gratitude to you and Jay - I wouldn't have been trading at all if not for both of you having so much to give.:)
@raju,
What a good idea... I don't know how to auto-update it either, I do it manually. Maybe mok could help?
Looks like a breakout from a small H&S in the 5 minutes chart.
Your sheet looks good, gd, but google doesn't allow colour-coding?
@yoda,
I created color code rules. So now SHORT appears as red and LONG as green.
-- gd
@yoda,
Have not gone through sheet..but it must be a “bumper” which I can notice from “applauds” here..thanks for the same..
For auto-update from NSE – if you dig “marketcalls” or write to Mr.Rajendran, you may get solution..i remember I hv read about it there..
Ilango sir, can we now take this as 5th or one more down move possible, or
crossing 5285 will tell?Thanks
Anuj,
I also hope so.Actually I felt a bit irritated seeing everyday someone taking potshots at Ilangoji. Now as Niftysparks says, It could be a bit of misunderstanding. If he didn't mean any disrespect, then it is time for my apologies to him.
On the other hand, I would be euphoric if I can master trading even a bit in 3 years as I would be a millionaire in the next 3 years. Amen... :)
Yoda,
You can auto-update from NSE, only the OHLC prices. Not the hourly high and hourly low because they don't provide this data. Your Excel file is really good. In a trending market the profits will be quite huge which will easily offset any whipsaws during non-trending days.
Thanks Yoda.
Sundar
So you see the problem with trading based on MAs. By the spreadsheet, it was a short. But market is up big time. I am saying EMAs and crossovers can lead to a lot of whipsaws. If you are in a trending market, maybe it is ok. Sideways market one can lose a lot.
Yoda - nothing against ur strategy. Just my 2 cents.
-- gd
Sir and All
Good Morning
Yoda, RG, Piyush and Manoj
hi
@Anuj
sometimes ur compliments are very complicated...?
ty assortZ, I think Ilango gets the credit again for popularizing it. No one would have paid any attention if he didn't notice it. lol
I'll look into marketcalls after I ask mok or sundar (who are our inhouse experts.:)
Assortz
u r also there...hi...
Hero Honda broke out. Oil & Gas Index is looking strong. Do I dare to hope?
9L puts added in 5100. 5L in 5300.
-- gd
ty sundar,
@gd, you're right about whipsaws on it, but the losses are fewer and less and profits larger when it runs along the 5- or 26-ema.
You really have to get used to losing a little in the market, no matter which method you use, for a greater overall profit.
Hi sri,
Key level 5280 in place :)
No one would have thought of that after seeing dow last night..gr8..
Dear Yoda,
Thanks for your nice work and contribution.
hi sriganeshh.:)
ty mynac.
Hello friends,
Auto update from NSE or any other website is possible only for EOD basis.
I have made a excel file for Day EMA trading with auto update feature.
infact I am looking for any website where i can get Hourly data... if anyone can guide me to that then I can give it a try to get it automaticaly updated.
thanks
IDFC seems like giving a very good breakout today.
San, could you please confirm it?
hi sri
@ bizagra,
5285- Month High ema will be attempted & 5290 - yesterdays 5-ema may also be attempted and possibly the psychological 5300 and lastly in a euphoria a century from 5210 low to 5310.
Book partial profits at any of these points.
Illango Sir and friends read TOT- Amit view on friday about tisco 5 ema and 20 ema crossover. For positional trade i think this is very good for buying and holding or selling and holding in futures is this the best combination sir or do u suggest something beter i will backtest it. Thanks again. God bless.
@Fire
IDFC ...QT system has given buy call signal today...fyi
Hi Sri,
==
Bakri...?
Thanks Yoda. For the Excel Sheet. Hope narrow minds get convinced with your Excel(lent) Sheet for trading.
30 min data is available at google finance. given below is the link. Techies can try and make use of it.
http://www.google.com/finance?q=NSE:.NSEI
lol, RG, the more they question, the more likely they are to convince themselves to try it. So its all for the best.
Ty for your work on it.:)
@ Sri Sri Sriganeshh
hi
"sometimes ur compliments are very complicated...?"
Thanks for the compliment!!..I think I am learn quite fast from my friend ,philosopher and guide "Rajagopal"
@Rajapaji
one rotten apple spoils the bunch
thanks for spoiling me!
Sri...above is also a compliment for rajapaji
NEW POST DONE.
@ Jayshah,
Yes..that is a good strategy.
illango sir can i short nifty at 5300
Soha,
Check premarketview table..above 5275..you can sell with SL 5315
What a safe ride to almost reach month hema ..now waiting for “Europe tunes” to start the dance..
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