In Search of a system that need no chart no TA/FA

[anup]

Below is my understanding about karthik's strategy

Please find the below trade for tata motors as per karthik's ATP method as on 11th December ..
Look at the first candle it touched ATP and high of the candle was 282.5 and low was 281.8...Be ready to execute the trade..Still no trade
Second candle made high of 282.4 and low was 281.8..Again no trade...Be ready to trade..still no trade
The third candle went below the low of first candle (low of first candle was 281.2) .. we are in a trade SL 282.5..Yes we are in a trade
Look at the low of the day 273.71...

 

[gurmy.]

Bang on target dear

 

[anup]

@Gurmy: thanks for always encouraging me!!...

 

[karthik_sri]

Karthik bro,

Could u please let me know what is the difference between we enter the trade and initiate the trade?

Bro,
There is no diff...just said enter/initiate...

 

[karthik_sri]

Below is my understanding about karthik's strategy

Please find the below trade for tata motors as per karthik's ATP method as on 11th December ..
Look at the first candle it touched ATP and high of the candle was 282.5 and low was 281.8...Be ready to execute the trade..Still no trade
Second candle made high of 282.4 and low was 281.8..Again no trade...Be ready to trade..still no trade
The third candle went below the low of first candle (low of first candle was 281.2) .. we are in a trade SL 282.5..Yes we are in a trade
Look at the low of the day 273.71...

The SL would be the High/Low of the candle touching the ATP candle and whic trade trigerred based on the candle touching the ATP. In this it would be 282.40 and not 282.50 as per your chart candle. Pls find the chart attached...

http://i.imgur.com/FVtCv.jpg

 

[anup]

karthik i have a question.. For stop loss should we take second candle high?.. And plz tell me what should be the SL for following case: ATP 100, first candle high 101 and low is 99 ,
second candle high 100.9 and low 99.8... Thirds candle high 101 and low 99.9.. Trade is initiated after third candle and SL should be 99.9 ..Am i right?

 

[karthik_sri]

karthik i have a question.. For stop loss should we take second candle high?.. And plz tell me what should be the SL for following case: ATP 100, first candle high 101 and low is 99 ,
second candle high 100.9 and low 99.8... Thirds candle high 101 and low 99.9.. Trade is initiated after third candle and SL should be 99.9 ..Am i right?

To enter into a trade we need the following condition to be met:

1). The price/candle (15min) should touch the ATP
2). The candle which touch the ATP should CLOSE ABOVE/BELOW based on that we enter LONG/SHORT.

In your above case you have not mentioned the close price and based on that only you will be in a position to enter LONG/SHORT. Please give your logic with the closing price so that i can able to clarify your doubts.

Karthik

 

[internet_fanbboy]

To enter into a trade we need the following condition to be met:

1). The price/candle (15min) should touch the ATP
2). The candle which touch the ATP should CLOSE ABOVE/BELOW based on that we enter LONG/SHORT.

In your above case you have not mentioned the close price and based on that only you will be in a position to enter LONG/SHORT. Please give your logic with the closing price so that i can able to clarify your doubts.

Karthik

Karthik,

Have you backtested this method ? Is there a Filter by which we can remove majority of loosing trades ?

- IF

 

[anup]

Karthik's method works awesome for Adani (almost 90% sucess rate) and good for tata steel ... i have tested only for two days..Lets see, how it works for another 10 to 15 sessions..

 

[anup]

Hello All, I will be posting trades based on karthik's strategy in following thread :

http://www.traderji.com/technical-analysis/77167-trading-according-karthiks-strategy.html

@PT sir: i dont know whether i have done right thing by posting my thread adress here.. If you feel i am spoiling your thread,Plz let me know so that i will delete.