how r u and family?? after a gap :) need your guidance
1) using ur sensex chart (live) which moving average is good for sensex pls. guide me. or else which indicator shall i use for intraday and which is good for weekly/monthly??
2) I would like to watch 2/5/30 time frames is it OK for sensex?? where can i get it??
timebeing this is my confusion - confusion questions may "continue" :D
Hi! everybody is fine ! thanks ! actually lost my partner in april,2011 who was looking after construction activity of our group. that has increased my work load in that division.so not getting much time to analyse as was getting before. u can see frequency of mails. and time frame of chart. from intra day, daily or weekly to now monthly...!so need to review less frequently.
any way my comments to yr queries which are very much important and can vary from person to person.
1)basically what i have learnt in years that price is most imp parameter. if u can understand price movements thats direction of scrip or index u r winner.larger the time frame yr success ratio will be better.so for better returns from yr investments follow longer time frame charts.intraday is smallest time frame and probability of failure is very high. normally combination of 13/34/55 is very good for daily and weekly charts.enter when 13 crosses 34 and exit after we see 34 crossing 55. or be alert and follow trailing stop loss.for intraday when markets open with gap up or down it takes long time for 3 mov avg set ups to give better results.i think by any parameter u take a position u shd keep stop loss of 1/3 or 1/2 value of targeted profits. if u want to take profit of 30 nifty points keep stop loss of 10 or 15 points.when to initiate a trade u can look at combination of over bought over sold conditions in rsi chart, slow stochastic cutting from extreme levels in opposite direction, combination of moving average of yr choice,or simply following prices by looking at bottoms or top formations. u can keep stop loss of previous bottom for long position and go on revising stop loss on making of higher bottoms.for short position reverse of the same. look at prev top and so on.
in simple words make a trading technique comfortable to u. optimisation will be there with time.trade without emotions. make it mechanical. ( very easily said but very difficult to implement.)
2) u can use last link on my blog in imp links section titled " yahoo : sensex chart ".it is of yahoo interactive chart with 3 moving avgs 13/50/200 . u can customise as per yr need.it is very good chart link. or u can use " nifty intraday chart " link in imp links lsit on my blog . it is of a blog http://nsetracker.blogspot.com/ which has fixed avgs but it refreshes automatically so u get automatically updated charts.moreover by using that blog u can see strategies in tutor section.
hope this helps u.
or u can go to "blog of ILANGOJI " very good blog for intraday updates and his valuable comments.it is placed at top in imp links on my blog.
hope this helps u and remove some confusion. more simple mechanism - minimum confusion. follow less tools but be disciplined .
Good morning ji. Hope all are safe @ Gujarat. It;s very sad to hear about your partner's demise. May god bless his family. My condolence to you and their family.
Thanks a ton for the excellent write up. Hope you are the one and only person who posted @ vfm about trading nifty comparing with sensex if i am not wrong. this is long back. But i observed for a long time and it's very fruitful and now i am religiously following. It's amazing and i ever grateful to you in this regard. (In the mid while trading i did lot of mistakes becoz lack of discipline :P ) I am the "price follower" not on any indicators but would like to learn and comparing for study purpose. Using free EOD softwares only for my reference.
I will "fine tune" my trading with your guidance. Onceagain thank you very much. The above one is not only for me. whoever visit your blog read this write up will be definitely get benefitted.
Hi pankaj ji
ReplyDeletehow r u and family?? after a gap :) need your guidance
1) using ur sensex chart (live) which moving average is good for sensex pls. guide me. or else which indicator shall i use for intraday and which is good for weekly/monthly??
2) I would like to watch 2/5/30 time frames is it OK for sensex?? where can i get it??
timebeing this is my confusion - confusion questions may "continue" :D
regards
Hi!
ReplyDeleteeverybody is fine ! thanks !
actually lost my partner in april,2011 who was looking after construction activity of our group. that has increased my work load in that division.so not getting much time to analyse as was getting before. u can see frequency of mails. and time frame of chart. from intra day, daily or weekly to now monthly...!so need to review less frequently.
any way my comments to yr queries which are very much important and can vary from person to person.
1)basically what i have learnt in years that price is most imp parameter. if u can understand price movements thats direction of scrip or index u r winner.larger the time frame yr success ratio will be better.so for better returns from yr investments follow longer time frame charts.intraday is smallest time frame and probability of failure is very high.
normally combination of 13/34/55 is very good for daily and weekly charts.enter when 13 crosses 34 and exit after we see 34 crossing 55. or be alert and follow trailing stop loss.for intraday when markets open with gap up or down it takes long time for 3 mov avg set ups to give better results.i think by any parameter u take a position u shd keep stop loss of 1/3 or 1/2 value of targeted profits. if u want to take profit of 30 nifty points keep stop loss of 10 or 15 points.when to initiate a trade u can look at combination of over bought over sold conditions in rsi chart, slow stochastic cutting from extreme levels in opposite direction, combination of moving average of yr choice,or simply following prices by looking at bottoms or top formations. u can keep stop loss of previous bottom for long position and go on revising stop loss on making of higher bottoms.for short position reverse of the same. look at prev top and so on.
in simple words make a trading technique comfortable to u. optimisation will be there with time.trade without emotions. make it mechanical. ( very easily said but very difficult to implement.)
2) u can use last link on my blog in imp links section titled " yahoo : sensex chart ".it is of yahoo interactive chart with 3 moving avgs 13/50/200 . u can customise as per yr need.it is very good chart link.
or u can use " nifty intraday chart " link in imp links lsit on my blog . it is of a blog http://nsetracker.blogspot.com/ which has fixed avgs but it refreshes automatically so u get automatically updated charts.moreover by using that blog u can see strategies in tutor section.
hope this helps u.
or u can go to "blog of ILANGOJI " very good blog for intraday updates and his valuable comments.it is placed at top in imp links on my blog.
hope this helps u and remove some confusion. more simple mechanism - minimum confusion. follow less tools but be disciplined .
all the best !
Pankaj Shah
Sir,
ReplyDeleteGood morning ji. Hope all are safe @ Gujarat. It;s very sad to hear about your partner's demise. May god bless his family. My condolence to you and their family.
Thanks a ton for the excellent write up. Hope you are the one and only person who posted @ vfm about trading nifty comparing with sensex if i am not wrong. this is long back. But i observed for a long time and it's very fruitful and now i am religiously following. It's amazing and i ever grateful to you in this regard. (In the mid while trading i did lot of mistakes becoz lack of discipline :P ) I am the "price follower" not on any indicators but would like to learn and comparing for study purpose. Using free EOD softwares only for my reference.
I will "fine tune" my trading with your guidance. Onceagain thank you very much. The above one is not only for me. whoever visit your blog read this write up will be definitely get benefitted.
Thanks and regards