Guppy multiple moving average trading

[timepass]

Exits are far more difficult to master than entry/direction/stoploss. A perfect exit is only possible on hindsight.

Ouch..

In Hindi.. दुखती रग पर हाथ रख दिया.

But very correct you are :thumb:

 

[NTrader42]

NT,

although once you evolve as a trader you shall be capable of trading any timeframe as trends develop on each timeframe.
you need a lot of screen time.

however, my personal experience suggests anything below H1 isn't worth my time. i look at daily timeframe first & then scale down to H4 or H1 for an entry.

one should develop patience to trade bigger time frames first as intraday requires skills that you shall develop with a lot of screen time.

regards
rishi

Hello

I have also heard the same from others, that trading longer terms is relatively easier, than short term trading. My motivation in sticking with the lower time frame is that it gives me higher frequency of trades and thus better practice with the method I will be using. Once I settle down with a particular method then I should be looking into trading higher time frames.


Posting a 5 min chart of MCX Copper price action as it is happening today

Thanks for your help.

 

[NTrader42]

Posting a 5 min chart of MCX Copper price action as it is happening today

Follow up on the above chart

Thanks

 

[NTrader42]

Crude Oil Short with 15 Mins chart, live trade, now trailing stops bar by bar using 5 Mins TF

 

[NTrader42]

Ok nice move so booking all at close of this 10.00 PM candle.

 

[4xpipcounter]

I was wondering if anyone took note of the same thing I did. I'm not a candle trader, as per se. There is one exception to my rule and a minor one. 1-2-3 formations are the exception, and I like doji formations at my key S&R's only.
The thing I've taken note of is that you have the cross, the flip, and the touch. It seems you could almost draw a TL, in advance, from the peak to the point of the top of the traders' lines in order to determine where the touch would be. That would be the anticipated entry, along with the 3 on the 1-2-3, and at that point you could also anticipate the break of the 2 for the strong move afterward. I do that in using the ichimoku in order to identify a lesser risk, along with a more profitable entry. With your methodology I noticed a predictable flow with the cross, the flip, and the touch, with the point of the touch being the low risk entry.
Am I seeing too much into this, or would you say the Guppy method has a more predictable sequence of events that aligns also with a more predictable entry.
LOL, I might have some homework to do this weekend.

Hello

I have also heard the same from others, that trading longer terms is relatively easier, than short term trading. My motivation in sticking with the lower time frame is that it gives me higher frequency of trades and thus better practice with the method I will be using. Once I settle down with a particular method then I should be looking into trading higher time frames.


Posting a 5 min chart of MCX Copper price action as it is happening today

Thanks for your help.

 

[NTrader42]

I was wondering if anyone took note of the same thing I did. I'm not a candle trader, as per se. There is one exception to my rule and a minor one. 1-2-3 formations are the exception, and I like doji formations at my key S&R's only.
The thing I've taken note of is that you have the cross, the flip, and the touch. It seems you could almost draw a TL, in advance, from the peak to the point of the top of the traders' lines in order to determine where the touch would be. That would be the anticipated entry, along with the 3 on the 1-2-3, and at that point you could also anticipate the break of the 2 for the strong move afterward. I do that in using the ichimoku in order to identify a lesser risk, along with a more profitable entry. With your methodology I noticed a predictable flow with the cross, the flip, and the touch, with the point of the touch being the low risk entry.
Am I seeing too much into this, or would you say the Guppy method has a more predictable sequence of events that aligns also with a more predictable entry.
LOL, I might have some homework to do this weekend.

Hi Paul

I have never traded this rainbow charts (thats what my version was named before today. But during the trades I noticed a similarity with trading the Ichimoku charts. I do use candle patterns and volume to exit my position, but these MA lines acting as a floating S/R is an idea i need to explore further.

I am already liking these charts obvious reason could be all 3 trades that i took today worked out for me and the last one on curde was a big 80 pointer. Hope we get further inputs from Rishi so I can move in the right direction.

Thanks

 

[Rkji]

NT

they don't seem to be guppy mma's to me.

are you sure you have short term ma's as ema - 3,5,8,10,12,15
long term ma's as ema - 30,35,40,45,50,60

i noticed that you have 5 short term & 5 long term ma's which is incorrect as guppy mma has 6 of each.


regards
rishi

Hope we get further inputs from Rishi so I can move in the right direction.

 

[NTrader42]

NT

they don't seem to be guppy mma's to me.

are you sure you have short term ma's as ema - 3,5,8,10,12,15
long term ma's as ema - 30,35,40,45,50,60

i noticed that you have 5 short term & 5 long term ma's which is incorrect as guppy mma has 6 of each.


regards
rishi

Yes Rishi, its not exactly same as guppy mma, my charts have small difference in SMA's. I will create another chart exactly matching the MA as per Guppy's template.

I already had this rainbow chart setup with 3 bands of MAs I (7-13), II (25-35) and III (50-70) and MA 200, I just removed the mid band and 200 MA and worked with the 2 remaining bands of MA groups.

With the 4 elements (3 bands and 200 MA) besides price the chart was not very useful, lines every where, but with just 2 bands and your notes the chart started talking

[From your notes i inferred that the lower band gives us sentiments or S/R of short term traders, and the upper band represents the activity from relatively longer term traders.]

Thanks

 

[4xpipcounter]

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Rishi, this is a fresh trade going short, as it was placed according to my methodology. It looks good for 45 pips. I'm going to watch its interactions with your Guppy method and see how it pans out. By the time it hits the flip portion of the move, it appears that will just about be the time I'll be cashing in my pips. I noticed on the hourly, it would be hitting the investors' portion of the MA's by the time I'm out of the trade.