General Trading Chat

[arsh22g]

Something I read about exits

Mike Reed
“Never let a gain turn into a loss. This will mean getting out of most trades a little (or a lot) too soon. You just have to live with it. Swing for home runs (greed) will ruin your trading."

Larry Conners and Linda Rashcke, from "Street Smarts":
"The main goal of each trade is to minimize risk rather than maximize profit."

Something like this happens to me all the time, tight TSL gets hit when my target of the trade is hit, and the market moves again just after hitting my TSL. Also, TSL around entry point also gets hit, but whether it's good or not, only experience will tell.

 

[lemondew]

as u said only experience will tell theories need to practiced

i was wondering on friday whether i exited early. now i feel its better to exit and reenter than risk for loosing a winning trade. so will further pursue on those lines

Something like this happens to me all the time, tight TSL gets hit when my target of the trade is hit, and the market moves again just after hitting my TSL. Also, TSL around entry point also gets hit, but whether it's good or not, only experience will tell.

 

[eku]

I want upper pane as 15tf and lower pane as 3/5tf...so that I can monitor it from a long distance also...that to with my right eye closed

Like this-

http://postimg.org/image/4vbn3zieh/

nf 3min 15min

Does the above meet requirement?

Then AFL is possible. Will share if this is what one is looking for

yes,this is what I'm looking for.
15tf in uppar pane and 3tf in lower pane.Pls share the AFL.
Your programming skills are amazing.I really dont have any words to express a thanks.

 

[PUCHU_2500]

some traders complain that his exit is very bad, they are very sorrow that keeping some patience would give him more profits......but when stop loss triggered and save him further more losses, they never say that his stop loss was good or accurate.......some time hitting my stop loss also gives me satisfactory.......feel I am doing my trade well......keeping in mind that hitting your stop loss is also a good of your strategy.......this is my personal observation......

 

[nitingosavi]

some traders complain that his exit is very bad, they are very sorrow that keeping some patience would give him more profits......but when stop loss triggered and save him further more losses, they never say that his stop loss was good or accurate.......some time hitting my stop loss also gives me satisfactory.......feel I am doing my trade well......keeping in mind that hitting your stop loss is also a good of your strategy.......this is my personal observation......

Exit depends on your trading TF...(?)

Its my personal experience. if u r trading 1 min-5 min TF exit might not last long.
It might have multiple entries and exits.

 

[arsh22g]

some traders complain that his exit is very bad, they are very sorrow that keeping some patience would give him more profits......but when stop loss triggered and save him further more losses, they never say that his stop loss was good or accurate.......some time hitting my stop loss also gives me satisfactory.......feel I am doing my trade well......keeping in mind that hitting your stop loss is also a good of your strategy.......this is my personal observation......

I think the discussion you are "subtly" pointing to is for making a winning trade to a losing one, where it's about TSL, not necessarily SL. If you are wrong, obviously hitting SL is good. But when you are right, do you want to be adamant that you wont move your SL to TSL and further covering your order when market has given you a satisfactory movement (your target maybe) or you want to secure your points first against the wild gyration? In my experience, NF can be classified as quite volatile, because market depth in India is not much, small amount of money (small in international terms) can move NF wildly. I try to secure my points first, and also cover full order (even if trend is going on) at predetermined strong supports/resistances and RNs. Of course I could be wrong, because my observation set is too small to make a general statement yet.

PS: Nothing personal here, just clarifying that you might have got the core point of discussion wrong .
I am too inexperienced in day trading, and need a lot of learning, my notions might be wrong, but am willing to take some chance of learning from own experience.

 

[blackberry]

How and when to hedge swing position using options.How to choose option strike rate.Does for 1 NF 1 option contract sufficient.
ST sir you explained earlier somewhere.Could you exlain more about that.

 

[pratapvb]

yes,this is what I'm looking for.
15tf in uppar pane and 3tf in lower pane.Pls share the AFL.
Your programming skills are amazing.I really dont have any words to express a thanks.

Ok thanks. Am seeing this from my mobile. Will share whenever I am able to go on computer

 

[amitrandive]

Trailing stop works well in a trending market, also depends on your risk appetite and profit taking .
Fails miserably in a sideways market.

http://www.onlinetradingconcepts.com/TechnicalAnalysis/ParabolicSAR2.html

 

[pratapvb]

Ok thanks. Am seeing this from my mobile. Will share whenever I am able to go on computer

code below price with high vol highligted with dot

there are various things that can be done depending on how the parameters are selected
1. different scipt in other pane
2. different tf in other pane
3. coloring the bar as per yday close
4. scaling the pane so that there is some free area above and below chart

checkout the parameters

_SECTION_BEGIN("HighVol");
SetChartOptions(0,chartShowArrows|chartShowDates|chartWrapTitle);
SetChartBkColor(ParamColor("Background", colorLightGrey)) ;

useforeign = ParamToggle("Set Foreign", "No|Yes", 0) ;
//List = GetCategorySymbols(categoryMarket, 0) ;
//forscript = ParamList("Scrip", List, 0) ;
forscript = ParamStr("Foreign Script", "BANKNIFTY-I") ;
if (useforeign)
	SetForeign(forscript); 

settf = ParamToggle("Set TF", "No|Yes", 0) ;
tf = Param("TF", 5, 1, 100000, 1) ;

if (settf)
{
	SetChartOptions(3,chartShowDates);
	TimeFrameSet(tf*in1Minute) ;
}

Layer = Param("Layer", 0, -5, 5, 1) ;
if (settf)
	tz = NumToStr(tf, 8.0) +"-minute";
else
	tz = NumToStr(Interval()/in1Minute, 8.0) +"-minute";

strname =  Name();
if (useforeign)
	strname = forscript ;

//_N(Title = StrFormat(Name() + " " +tz + " " + NumToStr(ddt, formatDateTime) + " Range %g {{VALUES}}", SelectedValue( dh-dl) ));
_N(Title = StrFormat(strname+tz+ NumToStr(DateTime(), formatDateTime)+ EncodeColor( colorGreen ) + " Open %g," + EncodeColor( colorBlue ) + " Hi %g,  " + EncodeColor( colorRed ) + " Lo %g,  " + EncodeColor( colorBlack ) + " Close %g (%.1f%%){{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));

showprice = ParamToggle("Show Price", "No|Yes", 1) ;
styleprice = IIf(showprice, 0, styleNoDraw) ;
//if (showprice)
	Plot( C, "Close",  colorBlack, styleNoTitle | styleCandle|styleprice,0,0,0,Layer ); 
ToolTip = "Open = " + O + "\nHigh = " + H + "\nLow = " + L + "\nClose = " + C ;

if (settf)
{
Daych = Day() != Ref(Day(), -1) ;
Plot(IIf(Daych, 100, 0), "", colorBlack, styleHistogram|styleNoLabel|styleOwnScale, 0, 100, 0, -5) ;
}
//Peaking Volumes
HiVolume = IIf(V > (2 * MA(V,10)), True, False); 
PlotShapes(shapeSmallCircle * HiVolume, IIf(C > O, colorBlack, colorWhite), 0, (O+C)/2, 0);
//TimeFrameRestore()

Clronclose = ParamToggle("Color on yday close", "No|Yes", 0) ;
if (Clronclose)
{
	ydayc = TimeFrameGetPrice("C", inDaily,0, expandLast) ;

	Clr = IIf(C > ydayc, colorBlue, IIf(C < ydayc, colorRed, colorGrey40)) ;
	SetBarFillColor(Clr) ;
	Plot(C, "", Clr, styleCandle|styleNoLabel, 0, 0, 0, 1) ;
}

scalefromclose = ParamToggle("Scale from Close", "No|Yes", 1) ;
per = Param("Percentage",40,0,50,10);
Mingap = Param("Min Gap", 20, 1, 10000, 1) ;

if (scalefromclose)
{
	Lvh = Lvl = SelectedValue(C);
	Lvhh = HighestVisibleValue(H) ;
	Lvll = LowestVisibleValue(L) ;
	spl = sph = (Lvhh-Lvll)*per/100 ; // Param("pointsup",50,0,500,10);
	Plot( Max(Max(Lvh+sph, Lvhh+sph/2), Lvh+Mingap), "", colorBlack,styleNoDraw);
	Plot( Min(Min(Lvl-spl, Lvll-spl/2), Lvl-Mingap), "", colorBlack,styleNoDraw);
}


_SECTION_END();