General Trading Chat
- Thread starter timepass
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Re: Trading for a Living : Is it Possible
6 AMA can be used for fine tuning our entries with small stoploss or for quick scalp. If 6AMA is above 15 AMA ,both rising then we can buy when the price in correction dips below 6 AMA and then comes above it,with a stoploss at pivot low below 6AMA. This gives entry with small stops but it also gives few whip saws if the trend is slow grinding trend.15AMA is more stable.
For swing trading the key to success is taking and holding swing positions with small stoploss only at the time of entry. Once the entry done,then manage the positions on swing trade critaria .Small stop is only at the time of entry when our capital is at risk. Once trade moves in profit,we have to give some space to it to move. No 3 min timeframe stops after the position moves in profit else it becomes day trading instead of swing trading.
Smart_trade
6 AMA can be used for fine tuning our entries with small stoploss or for quick scalp. If 6AMA is above 15 AMA ,both rising then we can buy when the price in correction dips below 6 AMA and then comes above it,with a stoploss at pivot low below 6AMA. This gives entry with small stops but it also gives few whip saws if the trend is slow grinding trend.15AMA is more stable.
For swing trading the key to success is taking and holding swing positions with small stoploss only at the time of entry. Once the entry done,then manage the positions on swing trade critaria .Small stop is only at the time of entry when our capital is at risk. Once trade moves in profit,we have to give some space to it to move. No 3 min timeframe stops after the position moves in profit else it becomes day trading instead of swing trading.
Smart_trade
No, we take a swing trade on swing trade levels but initially monitor it on 3/5 min charts. Once it moves in profit, then we monitor it on swing levels.Initial monitoring is only because I don't want to take a swing trade on 70 points stop loss. Next day we monitor it on swing levels, and not on 3 min levels.
This works for me.I posted it sometime back and someone said back test the system and if it is a 70 points loss,we take it.That is fine...if one is willing to take a large loss in swing he can trade that way.
Swing and intraday trades are separate. It is a different thing that when day trade is in large profit and swing also points in that direction,we keep part of day trade position into swing...but small part.Most profit is booked as a day trade...so both modes are separate.
ST
This works for me.I posted it sometime back and someone said back test the system and if it is a 70 points loss,we take it.That is fine...if one is willing to take a large loss in swing he can trade that way.
Swing and intraday trades are separate. It is a different thing that when day trade is in large profit and swing also points in that direction,we keep part of day trade position into swing...but small part.Most profit is booked as a day trade...so both modes are separate.
ST
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