MARKET CALLS FOR 22 JANUARY 2010

How to use the market calls table



Posted by A J at
Labels: , , , ,

11 comments:

  1. ramsfmThursday, January 21, 2010 9:44:00 PM

    Dear Anuj,
    I have taken long on IDEA-FUT@57.25 and 2 lots of 5100CE@53.50 just before market close..
    Would you please guide me how to handle these positions tomorrow because the way US markets falling now seems to be GAPDOWN openings tomorrow..

    ReplyDelete
  2. A JFriday, January 22, 2010 2:04:00 AM

    Hi ramfm
    IDEA futures today's prices were 58.4(high) and 56.4 (low) is that right? Based on that...

    Swing(Down) SAR(58.40) Low risk entry (57.2-57.4) Target (55.4-55.6)

    So as per recent price action its trading down and that to quite clearly from last four days at least.we should be short in it.But you are long so as of now thats a risky position,but let's also see the silver lining it didn't fall that much today and recovered in late trade while market fell.so once above SAR (todays high) swing will change to UP and it will start to work in your favor.So prepare for the worst (for tomorrow) and hope for best,make a clear plan now before you sleep and follow that, dont look what US markets do.and get out of the position tomorrow if SAR is not breached,remember we have a weekend coming and Mondays are not good(BLACK MONDAYs very popular)
    21 january 2008 and 18 may 2009 was Monday too,in the weekend news channels create panic/euphoria and effect is seen on Monday's trading
    I dont track options so cant comment on option price in specific but Nifty is over sold(oversold markets can become more oversold,"oversold" is a dangerous term to use in trending conditions) so some bounce can come.levels i have updated.trade accordingly,lighten up on your positions if they are going against you.
    All the best in managing your position

    ReplyDelete
  3. ramsfmFriday, January 22, 2010 7:54:00 AM

    Dear Anuj,
    Thanks for your guidenace..
    Will close if idea does not breach SAR level with in 30 mins of opening..
    Thanks,
    Ramesh.

    ReplyDelete
  4. A JFriday, January 22, 2010 8:50:00 AM

    hi ramsfm
    thats a better "idea"
    closing it if it breaches 30 mins opening range

    ReplyDelete
  5. ramsfmFriday, January 22, 2010 7:57:00 PM

    Thanks Anuj..
    closed MY IDEA futures in profit with 2.75/-...
    Still holding my 2 lots of 5100CE(Missed to exit at 40 level i was not at my desk at that time), No problem will exit with suitable price..
    Thanks,
    Ramesh.

    ReplyDelete
  6. A JFriday, January 22, 2010 8:33:00 PM

    hi ramsfm
    Idea really went up today (7 percent i guess while market tanked...and it may well continue in coming 2 days as well)
    When SAR is breached generally its the on going 3 wave EW so big profits come (its my random thought...please observe when you trade...i dont use EW)

    ReplyDelete
  7. ramsfmFriday, January 22, 2010 9:05:00 PM

    Thanks once again on yoru guidence..

    As we planned waited first 30 mins and by the time it was up by 4% and simply booked because 2 things one is market direction is down and 2nd one is week end..those 2 points prompted me to book profits immeditely...

    I am new to EW theory still i am student under Ilango guidence..

    Will keep that in mind in future, Its nice to have interaction with such senior guy's like you...

    Thanks,
    Ramesh.

    ReplyDelete
  8. A JFriday, January 22, 2010 9:17:00 PM

    hi
    yes your approach was fine,most of the time stock will follow index but todays action means Idea has better relative strength than nifty and is strong for what reason i dont know i will just follow SAR and not question stock price movement
    you should read ...how to make money in stock -by William J. O'Neil-he is a market wizard in jack Schwager book ...he narrates a similar experience that you had today ....when market was donw one of the stocks he followed was going up....so he bought that ...full story in his book
    cheers

    ReplyDelete
  9. A JSaturday, January 23, 2010 12:06:00 PM

    Hi ramsfm
    Last night i thought about your Idea position.and i want to ask this question to your and give you some food for thought...
    What if following conditions were there ?
    Market was going up
    Idea was going down
    And you had Long position in IDEA
    what will you do in following case ? Hold a losing idea position while markets was going up?
    Trading one financial instrument and making a decision to hold or come out of it based on index and lead to serious damage to your trading account.A lot of people lose their sleep watching what dow does at the closing.Its of no us.we broadly follow dow but you should not trade in indian stocks based on dow...you should trade based on stock price not even nifty.
    Its like looking to London talking to Tokyo and ignoring the ditch in front of you!!(LOL)
    just a thought for weekend ...what you did was fine for the time being as weekend was full of uncertainties and that position made you uncomfortable.waiting for your thoughts

    ReplyDelete
  10. vvvvvSaturday, January 23, 2010 7:58:00 PM

    sir,
    1. Prices of all the stocks are of future or spot?
    2. Should one carry position overnight as per SWING trend?
    3. Which one, among the stocks selected by you, is the best for swing trading

    ReplyDelete
  11. A JWednesday, January 27, 2010 12:55:00 PM

    Hi vvvvv,
    I have replied to your question in this post...comments section

    http://financeandtradingmadeeasy.blogspot.com/2010/01/traders-talk-25-january-2010.html

    yes you should carry overnight position as per swing (that the most important part...carrying position overnight)

    ReplyDelete

Subscribe to: Post Comments (Atom)

Popular Posts

How To Become A Stock Trader - 6 Stages Of Development As A Share Market Trader, Trading For A Living – A Practical idea?,How to use the market calls table, Simple Money Management Rules For Online Stock Trading, Buy Only and Sell Only Watch List, How do I calculate Stop and Reverse (SAR) Level ?, How to avoid whipsaws in trading, Inspirational Quotes - For Good And Bad Times, Elliott wave pattern - Impulse (IM), Internal structure, Rules and Guidelines, Diagonal [Leading (LD) and Ending (ED)],Zigzag (ZZ), Double Zigzag (DZ), Triple Zigzag (TZ), Flat (FL), Double Sideways (D3), Triple Sideways (T3), Triangle [Contracting (CT) and Expanding (ET)], Download - Elliott Wave Calculator,Free online Black Scholes option value and option greeks calculator,Free Download - Position Sizing Calculator For Stocks, Commodity And Forex Trading Using Microsoft Excel, Stock screener based on comparative relative strength indicator method, How to filter stock's information, to get the data for your portfolio scrips, Calculating Compound Annual Growth Rate (CAGR) for investment, Stock Scan setup using Narrow Range Seven (NR7) Strategy, Average True Range (ATR) Indicator Calculator Excel Sheet, Pivot Point, Support and Resistance Calculator for Intraday Trading, Relative Strength Index (RSI), Fibonacci Extension, Fibonacci Retracement, Compounding Calculator, Simple and Exponential moving average in Excel, DJIA Today [FREE DOW FUTURES LIVE CHART] Price Rate