Reason behind my trades


posted by XX on Tue Jul 15, 2014 11:45 am

#41

nifty high 7540+.... gain of 60+ points ... now hold with  sl @ cost 

posted by ramanp on Tue Jul 15, 2014 12:49 pm

#42

sir now high BB is rejected and nifty rsi broken 60 at cmp of 7474 should we short here as per the strategy or have to wait for some other confirmation as per EW an upmove is expected.

posted by XX on Tue Jul 15, 2014 01:48 pm

#43

posted by XX on Tue Jul 15, 2014 02:03 pm

#44

Ramanp ji : i hope u have not read my post properly.... in my first post have clearly explained entry points / exit points and Sl points .... i will recap the same for u 

 Settings : RSI 14 and Bolinger Band 12 . 

Entry : on reversal at RSI 40 as well as reversal from BB 12 ( lower band ) ..... exit : reversal @ rsi 60 as well as reversal from BB12 ( upper band) .... sl below/ above BB values.  

in the above buy call in nifty , as per this concept entry is @ 7475 ( satisfying rsi above 40 as well as reversal from lower BB as well as 13+ candle at same range  ............... so i hope entry is clarified  --------- it made high of 7540+ 

and for sl as per the concept it below lower BB at the time of entry .... which was 7445 to 7450.... and after entry it has not touched that levels .... so sl point is also clarified 

now for exit points : as per system reversal from rsi 60 as well as reversal from upper BB ---- here in this scenerio rsi 60 is not hit but from upper BB reversed ... so safe players can exit when rsi breaks 50 ( here it happened @ nifty 7523 .... still a gain of 40 points ....

safe players can exit @ rsi 50 when it fails to touch rsi 60 .... risk players can hold with sl or until rsi breaking 40 ... 

i hope this clarifies u doubt .....  

posted by ramanp on Tue Jul 15, 2014 02:07 pm

#45

Dear sir, the above chart is of NF but i mentioned the NS chart in which i referred google finance charts of 30 min time frame and setting as per ur strategy i got long trade trigerred at 7454 NS at which rsi was 43.55 and in next candle rsi was 39.51 and on today morning opening the rsi was 64.78 & 78.46 for first two 30 min candles and then 73, where high BB is rejected then next candles 70, 72,63 & 57 at last where NS was 7464. so as per the strategy at 10.30 pm candle bb rejected and 12.30 pm candle rsi broken so only i raised my query. i dont know how to place chart in this forum otherwise i dont need this much explanation. if possible kindly refer google finance charts nifty 30 min time frame.

posted by XX on Tue Jul 15, 2014 02:09 pm

#46

""""sir now high BB is rejected and nifty rsi broken 60 at cmp of 7474 should we short here as per the strategy or have to wait for some other confirmation as per EW an upmove is expected. """"""""""""""""


when nifty at 7474 rsi was @  46 ................... from here nifty can bounce from rsi 40 or it can break rsi 40 ..... and all these values r futures values.... 


posted by XX on Tue Jul 15, 2014 02:10 pm

#47

kindly read all the post from first .... it may give a clear view 

posted by ramanp on Tue Jul 15, 2014 02:14 pm

#48

sir i have clearly mentioned i refer NS charts and ns was 7474 when asked. is it that only futures chart has to be used for this strategy or kindly refer me which software u are using so that i could also install the same and follow u

posted by XX on Tue Jul 15, 2014 02:16 pm

#49

Ramanp ji , 

there is going to be a lot of difference between spot chart and futures charts ......, basically becoz of premium and discounts that happen in futures.... and this premium can run even to +50 or -50 ..... according to me when we take trades in futures , we have to follow futures chart than spot chart ....  and trades taken based on spot chat  may not give accurate trades ... so kindly try implementing in futures chart and if u have any queries u r welcome to post here .....

posted by ramanp on Tue Jul 15, 2014 02:19 pm

#50

sir any suggestion of website or software to follow live NF charts with reqd settings

posted by XX on Tue Jul 15, 2014 02:28 pm

#51

posted by Sagar on Tue Jul 15, 2014 03:24 pm

#52

[img]http://www.niftypundit.com/charts/1405418000.jpg[/img] 

posted by ramanp on Tue Jul 15, 2014 04:56 pm

#53

Dear maarish sir, as i requested earlier please give details about the chart software or website u use as in google charts it shows rsi 14 period 60 crossed and came back below 60.

with regards

P.Raman

posted by XX on Tue Jul 15, 2014 05:28 pm

#54

dear ramanp ji 

i use paid MT4 s/w for my charts .... i cant discuss abt the service provider here ..... 

as of now most people in NP  r using free version of  gls mt4 s/w .... 

Also kindly dont disclose any of ur personal details in NP .... if u require any details kindly mail to admin , and they might help u  . 

posted by ramanp on Tue Jul 15, 2014 07:20 pm

#55

OK sir no problem i had made this set up in my zerodha nest chart set up itself, thanks

posted by XX on Wed Jul 16, 2014 09:21 am

#56

posted by XX on Wed Jul 16, 2014 09:27 am

#57

posted by ramanp on Wed Jul 16, 2014 10:04 am

#58

Dear sir, now at cmp of 7552 & 10.00 pm candle rsi crossed 60 and fell now below 60, could we hold the longs until RSI falls below 50 or 40 sir?

posted by XX on Wed Jul 16, 2014 10:23 am

#59

ramanp ji :  u can book ur profits ....  rsi hit 60 and reversing ... also it is the 3 rd candle from  upper bb reject ... 

cmp 7550 

posted by ramanp on Wed Jul 16, 2014 11:03 am

#60

Dear sir,

I have downloaded the gls mt4 software and installed it as per the instruction in the pdf given in sharing by dhruv thakkar but it shows only forex, i.e currencies how to use it for equity mainly nifty. kindly help  



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