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[ravinder0509]

MSA can you please post the AFL here again.

Thanks

Ravinder

 

[Kavipriy]

As per Gann strategy, one is not required to see any bars, candles etc.. One tries a lot and confuses himself in this.. GANN values indicate that if buy and sell values are crosses, one needs to get his position in tht side of trade. Simple..!!

Now the question is how to do that....

 

[msa5678]

Asking the question again If 1st bar closes above/below Gann Entry what do you people do... please post your views....

Hi Kavi,

I will outline the trades of today, I hope it will clear all your doubts.

1. First trade triggered was a short one @ 9:30 when the candle closed below 4970 . The close of 9:30 bar was @ 4964.

2. Second trade triggered was a long one @ 10:35 when the candle closed above 4988. The close of 10:35 bar was 4994. The short trade hit SL.

3. The Second trade which was a long one has hit 2nd TGT and is still open

Regards

 

[msa5678]

Hi Guys,
In my opinion the long position needs to be closed now as the NF has closed below the 1st TGT after hitting the 2nd TGT . The short position will be opened only after NF CLOSES BELOW 4970.

@ Jallan. This is a type of trailing SL I was thinking.

 

[jallanankit]

ok.. BUt wats the TSl here.. u r advising to close long, there's no TSL

 

[timepass]

Hi Guys,
In my opinion the long position needs to be closed now as the NF has closed below the 1st TGT after hitting the 2nd TGT . The short position will be opened only after NF CLOSES BELOW 4970.

@ Jallan. This is a type of trailing SL I was thinking.

Excellent suggestion.

 

[Kavipriy]

ok.. BUt wats the TSl here.. u r advising to close long, there's no TSL

So you will exit below 4970 only?

 

[msa5678]

ok.. BUt wats the TSl here.. u r advising to close long, there's no TSL

Hi Jallan,

My idea of TSL is like this, Once a TGT is hit and NF comes back to the previous TGT, We got to close the position.

As an Example , Let's take today's Long Position which was triggered @ 4988, This went on to hit 2nd TGT @ 5021. Now after hitting 2nd TGT it should not have come below 1st TGT . Since it has closed below 1st TGT , We close the long position and wait for a fresh entry.

My backtesting which gave an average of 16 PTS per day, was on the above principles.

I hope the above clarifies the point.

Regards

 

[jallanankit]

Hi Jallan,

My idea of TSL is like this, Once a TGT is hit and NF comes back to the previous TGT, We got to close the position.

As an Example , Let's take today's Long Position which was triggered @ 4988, This went on to hit 2nd TGT @ 5021. Now after hitting 2nd TGT it should not have come below 1st TGT . Since it has closed below 1st TGT , We close the long position and wait for a fresh entry.

My backtesting which gave an average of 16 PTS per day, was on the above principles.

I hope the above clarifies the point.

Regards

Yes it does..
So how do u take a new position now..

Long on break of tgt 2 i.e. 5021?? or on the other side short on the brak of 4970..?? am i right??

 

[msa5678]

Yes it does..
So how do u take a new position now..

Long on break of tgt 2 i.e. 5021?? or on the other side short on the brak of 4970..?? am i right??

Hi Jallan,

I will be taking the new position only after NF crosses 4988.

In the event NF closes above 4988 after crossing it I will again open a long position.

In the even that NF closes below 4970 I will open a short position.

The process you are suggesting also works nice, But that is for active day traders. I am a passive day trader. I prefer to do day trading with less number of trades.

Regards