General Trading Chat

[Vipul_84]

Yes Smart_Trade Sir, I am looking for swing & intra system which is totally mechanical entry atleast. Here exit looks like more at individual discretion. Will try with this.
Thanks Pratap sir for nice posts. Got the AFL in subsequent posts. Have you done any backtesting for swing trades on NIFTY, any results?

Looks very clear for swing trades. Nice...people have been looking for a method for swing trades...they may try experimenting with this after proper back tests.

Smart_trade

NF

the simplest rule I find for intraday

15min AMA

1. no longs below the band and no shorts above the band
2. exit (I use 5min ama BO/BD if far from 15min ama band) or partial profit taking as suitable. btw I book 1/3rd to half on 20pts in NF and only trail rest for trend

showing below the band and 5min BO bar trigger. trigger basis could be 5min BO bar with BO bar as SL, or could be 3min or 2min pvt above/ below band for entry as convenient

showing compressed view to show more number of days

for profit taking other s/rs like 2day vwap and 5 day vwap levels etc can help

 

[arsh22g]

Getting a view of the fellow traders, is it wise to put a time limit on a particular trade?

 

[natjay]

Getting a view of the fellow traders, is it wise to put a time limit on a particular trade?

Put a price limit, not a time limit.

If you use Renko bars or Heiken Ashi candles then you'll see the priority given to price over time and hence, better trends that cut out noise.

 

[arsh22g]

Put a price limit, not a time limit.

If you use Renko bars or Heiken Ashi candles then you'll see the priority given to price over time and hence, better trends that cut out noise.

But isn't it possible that, if you trade shorter TF, a trend going in the expected direction is not getting enough momentum if it is not able to get out of congestion in a certain period of time?

 

[natjay]

But isn't it possible that, if you trade shorter TF, a trend going in the expected direction is not getting enough momentum if it is not able to get out of congestion in a certain period of time?

When that happens, I convert that trade to positional and hold it till it reaches my designated target (either profit or loss). Sometimes, it takes a while for a trend to pan out... My understanding is that short-term trends are rarely reliable unless there is confirmation from the longer TF movement in prices... A "good" trend might take 15 mins to materialize and pan out, or it might take 4-5 days. Always trade price. Time on its own doesn't move the market. You need price, volume and volatility. At least that's my understanding on this, and my approach.

 

[pratapvb]

Yes Smart_Trade Sir, I am looking for swing & intra system which is totally mechanical entry atleast. Here exit looks like more at individual discretion. Will try with this.
Thanks Pratap sir for nice posts. Got the AFL in subsequent posts. Have you done any backtesting for swing trades on NIFTY, any results?

I am poor at backtesting ... but am using it

 

[arsh22g]

When that happens, I convert that trade to positional and hold it till it reaches my designated target (either profit or loss). Sometimes, it takes a while for a trend to pan out... My understanding is that short-terms trends are rarely reliable unless there is confirmation from the longer TF trends... A "good" trend might take 15 mins to materialize and pan out, or it might take 4-5 days. Always trade price. Time on its own doesn't move the market. You need price, volume and volatility. At least that's my understanding on this, and my approach.

I agree that both short and longer TF are required to identify a trend, and also agree on 15 mins requirement. But if I am trading intra-day, and the move doesn't happen in, say, 1 hour, it makes me a little uneasy about my position, and then I get in defence mode.

 

[amandeep86]

ST da and others,

From past few days i m victim of Price chasing once my Sl gets hit ,I try to capture reverse move and many times hit multiple Sl's on both sides when sudden noise or range develops especially at key levels.

How to manage such situation

 

[pratapvb]

NF
in long mode... facing some resistance currently at 7437 (2dayvwap) and 7444 (VAH)

once that clear could move

 

[amandeep86]

I agree that both short and longer TF are required to identify a trend, and also agree on 15 mins requirement. But if I am trading intra-day, and the move doesn't happen in, say, 1 hour, it makes me a little uneasy about my position, and then I get in defence mode.

For intraday trades we play short momentum moves.

Since we play high probability setups ,move on either side should came within next 3-4 candles ,15-20 Mins .

if their is no move after such time ,the setup loses its probability as price failed to gain enough buyers or sellers in desired direction ,Such trades could be scratched rather then waiting for SL.

This is my view based on my experience as per my setup.