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How to trade using iCharts Levels - C T Ramesh Raja Method
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Author How to trade using iCharts Levels - C T Ramesh Raja Method
SwingTrader
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Post: #1   PostPosted: Wed Jul 04, 2012 12:57 pm    Post subject: How to trade using iCharts Levels - C T Ramesh Raja Method Reply with quote

For Nifty Trading:

Following is the Strategy:

1. Short Nifty 10 points above BULL level. Stop will be 20 points from Bull level.

2. If it crosses 20 points from BULL level it should rock on upside.

3. Buy Nifty 10 points below BEAR Level. Stop will be 20 points from Bear Level.

4. After crossing 20 points above BULL Level and subsequently if it pierces LOC, then Nifty will crash land.

5. After breaching 20 points below BEAR Level and subsequently if it crosses LOC, then it will moveup with momentum.

How do you takeup trades with the above strategy:


1.When you short 10points above BULL Level, then 20th point from BULL Level will become SLR.. and now your TGTS are LOC and BEAR Level

2. When you long 10 points below Bear Level, then 20th point from BEAR Level will become SLR..and now your TGTS are LOC and BULL Level.

You understand upto this point clearly, then I will tell you how to takeup SLR trade and explain you, how powerful is LOC level after Nifty crossing 20 points from either BULL or BEAR Level.

whatever I have explained now, first you backtest icharts levels with charts and revert to me.

For Nifty its 20 points play a vital role and for stocks its different figures taking into account value of stocks.

Best Wishes

C T RAMESH RAJA
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SwingTrader
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Post: #2   PostPosted: Wed Jul 04, 2012 12:59 pm    Post subject: Reply with quote

I have created this topic so all discussion about this method can be in one place. I will also request Mr. Ramesh Raja to post any followup on this strategy over here.
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Srikanth Kurdukar
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sumesh_sol
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Post: #3   PostPosted: Wed Jul 04, 2012 2:49 pm    Post subject: Reply with quote

SwingTrader wrote:
I have created this topic so all discussion about this method can be in one place. I will also request Mr. Ramesh Raja to post any followup on this strategy over here.


This is a welcome step.. Thanks ST sir, looking forward to ramesh sir's valuable input...
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muthuptm
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Post: #4   PostPosted: Wed Jul 04, 2012 3:56 pm    Post subject: Reply with quote

Dear Mr.Ramesh Raja,

I am new to icharts. Is there a Bull level and Bear level in icharts

Please guide me

Muthu
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rameshraja
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Post: #5   PostPosted: Wed Jul 04, 2012 4:00 pm    Post subject: Reply with quote

Mr Muthu

If you are a Jcharts subscriber it should be available.
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GHAISAS
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Post: #6   PostPosted: Wed Jul 04, 2012 4:03 pm    Post subject: Reply with quote

Today 4th July 2012 - NF did not shoot 20 points above Bull Level of 5324 @ 5344 - as well NF did not drop down 20 points below Bear Level of5287 @ 5267.

ghaisas.
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pattiboy02
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Post: #7   PostPosted: Wed Jul 04, 2012 4:29 pm    Post subject: Reply with quote

Dear rameshraja sir

Kinldy refer to today trading

As per my understanding, no possibility of trade occurs as per your strategy.
Nifty fails to reach 10 points above bull level i.e. 5234 and
It also fails to reach 10 points belwo bear level i.e. 5277.

Kindly suggest if any trade was possible for today in Nifty.

Thanks
regards

Ashish
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rameshraja
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Post: #8   PostPosted: Wed Jul 04, 2012 4:35 pm    Post subject: Reply with quote

I think many traders are waiting exactly for BULL +10 points to short and to long for BEAR - 10 points.

In real world of trading, market may not come exactly to our entry level. If a trader has risk capacity of taking 20 points in Nifty trade, then one can short at BULL level and long at Bear level.

If trade is taken on multiple lots for shorting, one can enter 50% of qty at BULL level and balance 50% at BULL+10 points. But SL should always be BULL+20 points. For buying, one can enter 50% Qty at Bear level and balance 50% at Bear minus 10 points. SL for buying should always be Bear -20 points.

Today's Price Action to Icharts levels:

Morning Nifty Future crossed BULL Level by around 4 points and made the high of 5328 and and fell exactly to second Target Level of BEAR to 5287, giving a neat profit of 37 points from BULL level.

In the Afternoon session, it took support exactly at BEAR level of of 5287, and moved to second Target of 5324, namely BULL Level.

In sideways market of tight range of Nifty movement in a day of 44 points, Ichart levels trading would have netted a profit of 74 points.

Stock Future:

State Bank of India:

Today, SBI opened below Bear level and moved to BULL level and flirted there for sometime. When it crossed BULL+20 level of 2198, it pulledback nicely to 2188 and blasted to make a high of 2222, netting 24 points move from entry level.

Please do understand the following points:

I have given reference of above successful trade by ichart levels and there could have been some stocks which would not have honoured the levels.
Like any pivot trading methodology, entry for trade could be subjective for each trader even by icharts levels.

Best Wishes

C T RAMESH RAJA
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umesh1
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Post: #9   PostPosted: Wed Jul 04, 2012 11:02 pm    Post subject: Reply with quote

rameshraja wrote:
I think many traders are waiting exactly for BULL +10 points to short and to long for BEAR - 10 points.

In real world of trading, market may not come exactly to our entry level. If a trader has risk capacity of taking 20 points in Nifty trade, then one can short at BULL level and long at Bear level.

If trade is taken on multiple lots for shorting, one can enter 50% of qty at BULL level and balance 50% at BULL+10 points. But SL should always be BULL+20 points. For buying, one can enter 50% Qty at Bear level and balance 50% at Bear minus 10 points. SL for buying should always be Bear -20 points.

Today's Price Action to Icharts levels:

Morning Nifty Future crossed BULL Level by around 4 points and made the high of 5328 and and fell exactly to second Target Level of BEAR to 5287, giving a neat profit of 37 points from BULL level.

In the Afternoon session, it took support exactly at BEAR level of of 5287, and moved to second Target of 5324, namely BULL Level.

In sideways market of tight range of Nifty movement in a day of 44 points, Ichart levels trading would have netted a profit of 74 points.

Stock Future:

State Bank of India:

Today, SBI opened below Bear level and moved to BULL level and flirted there for sometime. When it crossed BULL+20 level of 2198, it pulledback nicely to 2188 and blasted to make a high of 2222, netting 24 points move from entry level.

Please do understand the following points:

I have given reference of above successful trade by ichart levels and there could have been some stocks which would not have honoured the levels.
Like any pivot trading methodology, entry for trade could be subjective for each trader even by icharts levels.

Best Wishes

C T RAMESH RAJA

Sir,
Appreciate your method how to take entries with help of bullish/bearish levels,with appropriate stoplosses
Would be glad if you can give target levels after entry as any trading strategy is not complete without targets,please give practical levels as i believe no magician can get entry and tgts at the extremes as you have mentioned
regards
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rameshraja
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Post: #10   PostPosted: Wed Jul 04, 2012 11:59 pm    Post subject: Reply with quote

Mr Umesh

Please read the Start of the thread for Targets. For SLR trade, I am yet to post the strategy in Forum.

Best Wishes

C T R
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sanmen
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Post: #11   PostPosted: Thu Jul 05, 2012 1:05 am    Post subject: Reply with quote

RR Sir

i have a query on the use of the weekly levels. As you have suggested a buy if the price recovers from below the bear level and crosses the LOC. If such a price action happens on the last trading day of the week then whats the strategy to carry forward the trade? the values etc for the next week would change.

would appreciate if you can detail this aspect out as well.

thanx

Sanmen
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rameshraja
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Post: #12   PostPosted: Thu Jul 05, 2012 7:21 am    Post subject: Reply with quote

Mr Sanmen

I suggested Nifty Future to buy below Bear Level and not when it crosses LOC. I prefer to buy on weakness and sell on strength as per levels.

I have not tested the outcome of subsequent week's action of NF when a signal is generated on last day of the week as per weekly levels.

C T R
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chiragbvyas
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Post: #13   PostPosted: Thu Jul 05, 2012 8:09 am    Post subject: Reply with quote

dear ramesh raja sir,
pls post the whole set up with example / chart to reduce the traders confusion and to avoid unnecessory posts to understand/explain the strategy.
chirag...
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sumesh_sol
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Post: #14   PostPosted: Thu Jul 05, 2012 9:42 am    Post subject: Reply with quote

Bought half @ 5310 (near bear level).. other half kept @ 5296..
SL-5286 ... Tgt 5323/5340
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sumesh_sol
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Post: #15   PostPosted: Thu Jul 05, 2012 9:59 am    Post subject: Reply with quote

Small Qty for testing on Asian Paint: bought @ bear-10 level(3843) with SL 3833..
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