BollingerBands
- Thread starter columbus
- Start date
Columbus sir,
Good morning, Yep, again i come up with another query to you.
Sir in this chart, suppose you go long at 5304 levels, and when the upper BB is hit near 5320 levels, what would you do at that moment as a intraday trader sir?( those which i marked in red circles)
1) Will you exit at that point of time,as UPPER BB is pierced and go short?
2) Or will you be using trailing stops. If so in where exactly is advisable to put our stops, for example in this case.
Regards
Saivenkat.
Good morning, Yep, again i come up with another query to you.
Sir in this chart, suppose you go long at 5304 levels, and when the upper BB is hit near 5320 levels, what would you do at that moment as a intraday trader sir?( those which i marked in red circles)
1) Will you exit at that point of time,as UPPER BB is pierced and go short?
2) Or will you be using trailing stops. If so in where exactly is advisable to put our stops, for example in this case.
Regards
Saivenkat.
Columbus sir,
Good morning, Yep, again i come up with another query to you.
Sir in this chart, suppose you go long at 5304 levels, and when the upper BB is hit near 5320 levels, what would you do at that moment as a intraday trader sir?( those which i marked in red circles)
1) Will you exit at that point of time,as UPPER BB is pierced and go short?
2) Or will you be using trailing stops. If so in where exactly is advisable to put our stops, for example in this case.
Regards
Saivenkat.
Good morning, Yep, again i come up with another query to you.
Sir in this chart, suppose you go long at 5304 levels, and when the upper BB is hit near 5320 levels, what would you do at that moment as a intraday trader sir?( those which i marked in red circles)
1) Will you exit at that point of time,as UPPER BB is pierced and go short?
2) Or will you be using trailing stops. If so in where exactly is advisable to put our stops, for example in this case.
Regards
Saivenkat.
At each circled positions, I will keep ADDING a SHORT position.
As I mentioned in this thread many times working with EOD chart is
different from a LIVE chart ,because in LIVE chart we have data on the
LEFT side of our ENTRY but not RIGHT side.But on EOD chart the case is
different.
Columbus bhai, I could not understand what you mean by In case by chance if the order goes wrong NEVER PLACE ANOTHER
ORDER in the vicinity of FIRST order.
Could you please elaborate on it?
Thanks and regards
Saivenkat
ORDER in the vicinity of FIRST order.
Could you please elaborate on it?
Thanks and regards
Saivenkat
Hi SaiVenkat,
This I will explain with a example of today.
Say at 5322 ,the candle pierced top band.So we go SHORT at 5322.
Market went down as predicted till 5316,suddenly it went up by 8
points (5316+8=5324) to hit the top band once again.So do not place
another order at juncture ,because the difference is just 2 points (5324-5322).After few candles the market was at 5328.Place an SHORT order here.
I am mentioning events between 1140-1250 today.
The process of ADDING depends on the amount of time left for the closure
of market.
BB(20,2) of nifty futures on time frame 4,6min are presented below.
Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss
Otherwise continue with TREND if candles graze(ride) TOP/BOTTOM
bands.
Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss
Otherwise continue with TREND if candles graze(ride) TOP/BOTTOM
bands.
Columbus bhai, I could not understand what you mean by In case by chance if the order goes wrong NEVER PLACE ANOTHER ORDER in the vicinity of FIRST order.
Could you please elaborate on it?
Thanks and regards
Saivenkat
Could you please elaborate on it?
Thanks and regards
Saivenkat
I agree with you sir, during the LIVE MARKET data is on the LEFT side of the entry, we don't know what could be the next move. It is in this context sir, i am still not clear.
Sir, now i place before you how i would have traded in this context.
1) Since the upper BB is pierced on the first occasion i would have gone short and put a SL
2) Immediately the market has moved up and my STOP LOSS WOULD BE HIT. My trade is finished.
Now my doubts are:
A) My order goes wrong, and you told "NEVER PLACE ANOTHER ORDER in the vicinity of FIRST order, if it goes wrong" what does this statement mean to me now, how should i react? Can i take that, i must not execute another buy/sell order immediately after that wrong trade?
B) Sir, today you told that, you will keep adding short positions, that is again go short when the upper BB was pierced for the second time?
Sir, Does not this appear to look contrary " never place another order in the vicinity of the first order goes wrong"
Sir please clarify me these. Sorry again for the troubles that i give to you.
Thanks and regards
Saivenkat
Sir, Thanks again for patiently responding to my queries, and i know sir, that i am disturbing you a lot with my silly doubts, but i feel no other alternative than asking you directly sir.
I agree with you sir, during the LIVE MARKET data is on the LEFT side of the entry, we don't know what could be the next move. It is in this context sir, i am still not clear.
Sir, now i place before you how i would have traded in this context.
1) Since the upper BB is pierced on the first occasion i would have gone short and put a SL
2) Immediately the market has moved up and my STOP LOSS WOULD BE HIT. My trade is finished.
Now my doubts are:
A) My order goes wrong, and you told "NEVER PLACE ANOTHER ORDER in the vicinity of FIRST order, if it goes wrong" what does this statement mean to me now, how should i react? Can i take that, i must not execute another buy/sell order immediately after that wrong trade?
B) Sir, today you told that, you will keep adding short positions, that is again go short when the upper BB was pierced for the second time?
Sir, Does not this appear to look contrary " never place another order in the vicinity of the first order goes wrong"
Sir please clarify me these. Sorry again for the troubles that i give to you.
Thanks and regards
Saivenkat
I agree with you sir, during the LIVE MARKET data is on the LEFT side of the entry, we don't know what could be the next move. It is in this context sir, i am still not clear.
Sir, now i place before you how i would have traded in this context.
1) Since the upper BB is pierced on the first occasion i would have gone short and put a SL
2) Immediately the market has moved up and my STOP LOSS WOULD BE HIT. My trade is finished.
Now my doubts are:
A) My order goes wrong, and you told "NEVER PLACE ANOTHER ORDER in the vicinity of FIRST order, if it goes wrong" what does this statement mean to me now, how should i react? Can i take that, i must not execute another buy/sell order immediately after that wrong trade?
B) Sir, today you told that, you will keep adding short positions, that is again go short when the upper BB was pierced for the second time?
Sir, Does not this appear to look contrary " never place another order in the vicinity of the first order goes wrong"
Sir please clarify me these. Sorry again for the troubles that i give to you.
Thanks and regards
Saivenkat
Regards
Saivenkat
Sir, Thanks again for patiently responding to my queries, and i know sir, that i am disturbing you a lot with my silly doubts, but i feel no other alternative than asking you directly sir.
I agree with you sir, during the LIVE MARKET data is on the LEFT side of the entry, we don't know what could be the next move. It is in this context sir, i am still not clear.
Sir, now i place before you how i would have traded in this context.
1) Since the upper BB is pierced on the first occasion i would have gone short and put a SL
2) Immediately the market has moved up and my STOP LOSS WOULD BE HIT. My trade is finished.
Now my doubts are:
A) My order goes wrong, and you told "NEVER PLACE ANOTHER ORDER in the vicinity of FIRST order, if it goes wrong" what does this statement mean to me now, how should i react? Can i take that, i must not execute another buy/sell order immediately after that wrong trade?
B) Sir, today you told that, you will keep adding short positions, that is again go short when the upper BB was pierced for the second time?
Sir, Does not this appear to look contrary " never place another order in the vicinity of the first order goes wrong"
Sir please clarify me these. Sorry again for the troubles that i give to you.
Thanks and regards
Saivenkat
I agree with you sir, during the LIVE MARKET data is on the LEFT side of the entry, we don't know what could be the next move. It is in this context sir, i am still not clear.
Sir, now i place before you how i would have traded in this context.
1) Since the upper BB is pierced on the first occasion i would have gone short and put a SL
2) Immediately the market has moved up and my STOP LOSS WOULD BE HIT. My trade is finished.
Now my doubts are:
A) My order goes wrong, and you told "NEVER PLACE ANOTHER ORDER in the vicinity of FIRST order, if it goes wrong" what does this statement mean to me now, how should i react? Can i take that, i must not execute another buy/sell order immediately after that wrong trade?
B) Sir, today you told that, you will keep adding short positions, that is again go short when the upper BB was pierced for the second time?
Sir, Does not this appear to look contrary " never place another order in the vicinity of the first order goes wrong"
Sir please clarify me these. Sorry again for the troubles that i give to you.
Thanks and regards
Saivenkat
Code:
Thanks again for patiently responding to my queries, and i know sir, that i am disturbing you a lot with my silly doubts, but i feel no other alternative than asking you directly sir.
Code:
I agree with you sir, during the LIVE MARKET data is on the LEFT side of the entry, we don't know what could be the next move. It is in this context sir, i am still not clear.
1) Since the upper BB is pierced on the first occasion i would have gone short and put a SL
2) Immediately the market has moved up and my STOP LOSS WOULD BE HIT. My trade is finished.(Not tooo big)
Code:
A) My order goes wrong, and you told [B][I]"NEVER PLACE ANOTHER ORDER in the vicinity of FIRST order, if it goes wrong" [/I][/B] what does this statement mean to me now, how should i react? Can i take that, i must not execute another buy/sell order immediately after that wrong trade?hitting Stoploss is higher.Hitting SL in quick succession hits our morale also.
Code:
B)Today you told that, you will keep adding short positions, that is again go short when the upper BB was pierced for the second time?
Does not this appear to look contrary " never place another order in the vicinity of the first order goes wrong"top band at 5324 and 5326,I did not place short orders, but placed order
at 5328.At that time market was in over bought condition with Stochastic
at 95.I was confident of fall.But I did not expect such a drastic fall.Then
Futures went to 5306 and recovered to 5312.There is power problem in our
area from 1400 to 1600 hrs.I could not do anything than placing a limit order
at 5300.
BB(20,2) of nifty futures on time frame 4,6min are presented below.
Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss
Otherwise continue with TREND if candles graze(ride) TOP/BOTTOM
bands.
Go long when Red+Green candles pierce the bottom band and wait for 15minutes
for confirmation after taking position, otherwise come out with stoploss
Go short when Green+Red candles pierce the top band and wait for 15minutes
for confirmation after taking position , otherwise come out with stoploss
Otherwise continue with TREND if candles graze(ride) TOP/BOTTOM
bands.
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