General Trading Chat

[vagar11]

ST sir quoting one of your old posts about system selection on a particular day based on ADX , is it relevant even in today's market conditions (in Nifty)
"The level of ADX can help us to decide which system to use at a given point of time.

Now let me explain you how to accomplish this goal.



PLOT ADX(14) ON CHART FOR YOUR CURRENCY PAIR.



IF...

1)ADX is below 20 - USE OSCILLATOR BASED SYSTEM(RSI,STOCHASTIC ETC.)



2)ADX is above 30 - USE TREND FOLLOWING SYSTEM(MOVING AVERAGE,MACD ETC.)



3)ADX is at 45 or above it - BOOK PROFITS.(Wait for new entry)



4)ADX IS RISING FROM LEVEL BELOW 18 AND THEN GOING ABOVE 23 - USE TREND FOLLOWING SYSTEM.



5)ADX DECLINING FROM LEVEL ABOVE 30 AND THEN GOING BELOW 27 - USE OSCILLATOR BASED SYSTEM.



The above mentioned method will help you select right system at right time

This system selection technique works very well according to my experience.

I want to tell you again that this technique only helps to select right system at right time and it is not a holy grail.



I hope everyone will like this system selection technique and use it to improve their tradingI use this for trading in stocks and hope it will work well in the forex market.

A GOOD SYSTEM NEVER FAILS IT FAILS ONLY BECAUSE IT IS USED AT A WRONG TIME".

Just FYI. This ADX strategy was recommended by avad and not ST Sir. You can search the old posts.

 

[vivektrader]

Just FYI. This ADX strategy was recommended by avad and not ST Sir. You can search the old posts.

Ok, well it was in lemondew's collection of ST's posts, I miscued I think.
Thanks for correction.

 

[ap*]

What's with Ztrader guys ? Are the quotes updating ok ?? (not asking about Pi or Kite)

Mine has been freezing on and off since morning. Seems like another issue with them again.

 

[vagar11]

How can you judge a false breakout and true breakout? Quoting one of the old posts of ST Sir.

Good breakouts are the ones where the market goes sideways just below the breakout, consolidates and breaks out with force and then never looks back.

As against that if the market coming from long distance to the breakout point without sideways consolidation are suspect breakouts more likely to fail as market spends its bullish energy for travelling till the breakout point and after the breakout it has no energy left to carry the breakout through.

Smart_trade

This type of understanding comes after years of trading into markets and here ST Sir is sharing it to us for free. Thank you Sir. We are deeply indebted to you.

Vagar

 

[timepass]

Today marks 2 years of Modi Govt. It may not end up in red today.

 

[deba72]

As a NF swing trader last few weeks have been absolutely boring for me as there has been no big tradable trend. Only choppy movements and false starts on either side. When will law of average come into play ?

 

[vikas2131]

As a NF swing trader last few weeks have been absolutely boring for me as there has been no big tradable trend. Only choppy movements and false starts on either side. When will law of average come into play ?

god knows...but one day up and one day down is really bad

 

[mudraatrader]

NF 7860 de do baba ji
abhi 7833 hai

NF 7860 de do baba ji
abhi 7833 hai

 

[mudraatrader]

BNF 16725 de do baba ji
abhi 16666 hai

BNF 16725 de do baba ji
abhi 16666 hai

 

[manish9300]

Vwap gap is above 40 at 2:30 in NF.