Intraday profit system

[vikrit]

you are right. but can you tell me what is your exit strategy for your system or any other system. in this thread you didnt mention any planned exit strategy. (if i missed any plz tell).

basically my points was-
1. when you are trading live with moving average systems you cant tell whether next 10 candle go no where but give you 5-10 points loss with rmoving averages showing trade is right, direction are good. as 4xpipcounter said "that is why, essentially, crossovers do not work.They have no way of telling you when the market is about to whipsaw."
please suggest some indicators or any strategy to avoid whipsaw.

2.and about exit. why exit is so important for me at least b/c it is not only imp for booking profit from trade or save your capital from bad trade but also if you dont exit you will NOT or CANT enter again as per AVERAGE crossover system. and may be you miss entry or sometimes half of very good momentum, while last trade ended up some profit or no profit or bitter one i.e. loss.

plz dont mind i am not saying your system or every crossover system or anybody's system is bad. i am just telling what i found while trading or testing. may be ur system is good, i am just curious how it is working in these times, how you are tackling these situations with this sytem?

what i said all applies for day trading or intraday. but in intraday it is more problematic.
secondly as i have read everywhere, in this forum also system should have rules or triggers or at least systematic guidelines, so while trading you will not get confuse and there will be no space for guessing. otherwise it is not a proper system.

i appreciate everybody's effort here :thumb:. i will be really obliged if anybody can explain these things or will give some solution either for crossover or anything.
attaching chart to explain using 1st post strategy. if anything wrong plz tell.

Debarghya,

you didnt replied on my this post. plz when get time see and respond about crossovers for intraday. and also if possible suggest some solution or what you did for getting profit in this startegy. and in case you are using some other for intraday and if feel free to tell then plz tell...

thanks for all your efforts.

 

[Debarghya Mukherjee]

You are right. I am not using this system anymore. I am using a more advance system now. I have broken up my trading in different parts. It is based on time of the day or any particular financial calendar, gap Up/Down or not, may other factors.
But I still say my system was not bad. But you believe anything like experience or third eye? I believe it strongly. Experience opens our third eye in trading. You will sense the market. If you sense it then why my system every system rocks.

About the exit strategy you can adjust Stop loss. As the trade goes in favor of you, adjust the stop loss to your favor. I like this lot. It gives our stop loss breathing.

Hey Paul.. if you are there, make some comment. You know what I am talking about.

you are right. but can you tell me what is your exit strategy for your system or any other system. in this thread you didnt mention any planned exit strategy. (if i missed any plz tell).

basically my points was-
1. when you are trading live with moving average systems you cant tell whether next 10 candle go no where but give you 5-10 points loss with rmoving averages showing trade is right, direction are good. as 4xpipcounter said "that is why, essentially, crossovers do not work.They have no way of telling you when the market is about to whipsaw."
please suggest some indicators or any strategy to avoid whipsaw.

2.and about exit. why exit is so important for me at least b/c it is not only imp for booking profit from trade or save your capital from bad trade but also if you dont exit you will NOT or CANT enter again as per AVERAGE crossover system. and may be you miss entry or sometimes half of very good momentum, while last trade ended up some profit or no profit or bitter one i.e. loss.

plz dont mind i am not saying your system or every crossover system or anybody's system is bad. i am just telling what i found while trading or testing. may be ur system is good, i am just curious how it is working in these times, how you are tackling these situations with this sytem?

what i said all applies for day trading or intraday. but in intraday it is more problematic.
secondly as i have read everywhere, in this forum also system should have rules or triggers or at least systematic guidelines, so while trading you will not get confuse and there will be no space for guessing. otherwise it is not a proper system.

i appreciate everybody's effort here :thumb:. i will be really obliged if anybody can explain these things or will give some solution either for crossover or anything.
attaching chart to explain using 1st post strategy. if anything wrong plz tell.

 

[vikrit]

You are right. I am not using this system anymore. I am using a more advance system now. I have broken up my trading in different parts. It is based on time of the day or any particular financial calendar, gap Up/Down or not, may other factors.
But I still say my system was not bad. But you believe anything like experience or third eye? I believe it strongly. Experience opens our third eye in trading. You will sense the market. If you sense it then why my system every system rocks.

About the exit strategy you can adjust Stop loss. As the trade goes in favor of you, adjust the stop loss to your favor. I like this lot. It gives our stop loss breathing.

Hey Paul.. if you are there, make some comment. You know what I am talking about.

thanks for response & suggestions.

my apologies, i did not able to convey my msg properly. i NEVER meant to say this/any system is bad (i mentioned in my msg also). my intention was to discuss problem faced in real time and drawbacks, so it can be sorted out.

also wanted to know how experienced person like you use this system. you are presently not using this intraday system, still if you can put more light how you used it in past, it will be very helpful. and as suggested stop loss for early exit. what about early entry? what can be done in this area?

paul(4xpipcounter) system is facing some problem while opening traderji.com, (have read msg in his thread)

 

[4xpipcounter]

THank-you, Vikrit. I got everything figured out, so hopefully, I'll run into no more complications.

thanks for response & suggestions.

my apologies, i did not able to convey my msg properly. i NEVER meant to say this/any system is bad (i mentioned in my msg also). my intention was to discuss problem faced in real time and drawbacks, so it can be sorted out.

also wanted to know how experienced person like you use this system. you are presently not using this intraday system, still if you can put more light how you used it in past, it will be very helpful. and as suggested stop loss for early exit. what about early entry? what can be done in this area?

paul(4xpipcounter) system is facing some problem while opening traderji.com, (have read msg in his thread)

 

[4xpipcounter]

I put my own marks on the original.
First, let me say I almost apologetically say I'm a little narrow minded when it comes to MA's, and especially in using stochastics in conjunction with it. I have never seen (JMO) a crossover system that yields pips on a consistent basis.
An MA is a measure of the median, or an average, or equilibrium. Once price retraces to the MA, it is only conjecture which way price will go from there. On a crossover of 2 MA's, it is only conjecture if the 2 will stay crossed over.

IMO, the time that the usage of an MA becomes something tradeable is when the candle has drifted more than the "normal" distance from it.

The black arrows represent your entry on the trade, and the blue represents how far the trade would have gone. The 3rd blue arrow is pointing to the fact the stochastics were OB when the candle hit the MA. IMO, it is not tradeable on the bounce off the MA, because of it self, you don't know how far it will go, and you only jump in half way through the trend. At least you can know with relative certainty that when the candle hits an extreme point with the stochastics crossing over, you know that at least it will move to at least the MA.
Another thing that confirmed the 1st trade was a doji forming that far above the MA. When looking for the confluence, we have the candle ranging far above the MA, stochastics crossover, and the doji.

The next 5-6 weeks is going to be kind of slow. I'll post a little later on something live just to show the proof of how the whole thing would play out.

Uploaded with ImageShack.us

 

[4xpipcounter]

Prst, I delayed my response to you because of the personal problems I had.

As per my previous post, I showed how you can use the stochastics and an MA to consistently post winning trades. IMO, multiple MA's tends to make it confusing, as in using multiple, many traders are looking for crossovers, and I showed why I don't know of when they have consistently worked.

As far as the flip side of the coin is concerned, I have to agree with you. You can use an MA, stochastics, and other indicators to form a confluence.
The thing with oscillators is they lag, which means they should only serve as an alert, not a trigger for a trade.

I forgot to mention why the 1st trade in the previous post would have hit the other side of the MA, and that had to do with the reading on the stochastics in lieu of the stochastics. The long candle is your price action, which opened up the stochastics. The stochastics were reading at higher than 50 even though the candle hit the MA, theoretically, half way through the trade. It shows the downside still has some momentum to it.

Another thing about the stochastics is that in getting out, then give it the benefit of the doubt. Once it hit the bottom and close to crossing, then get out

to put ur post in simple words, we should use indicators and oscillators "only" as an additional tool to support our price action analysis but most of the times we tend to do it the other way round..

 

[4xpipcounter]

Uploaded with ImageShack.us

Uploaded with ImageShack.us

I'm posting a couple of charts live, because I think it is more effective to make a point when it is live.
From the current level at .9173, and this would be something to follow the price action on when the new week starts, watch for a move south. Notice the candles going sideways at the MA. Stochastics are OB, and it was a long way price action had to move since it wandered so far away from the MA, so it is now tired. The question now is, "How far will it go?"
One way to gauge this, and considering it will head south from the bottom, it to count the grids. Count down about 2 1/2, and that would be a conservative stop, and so we can count on .9147, which would yield 46 pips from the current level.

Look at the monthly. Price was way down there, and the stochastics were OS, and then curled north. The object there is to find a place to get in, whether it be fine tuning it on the daily or weekly, or whatever it takes. Almost invariably (And don't take my word on this. Just check past history for your personal confirmation.), when the candle has ranged further then normal from the MA, it will always hit the MA on that leg. Therefore, the MA is .9734, so that is minimum expectation. After we get the correction from current level, that will be 600 pips or more.

This kind of trading depends on how long you like to hold a trade. If you like to get in and out quickly, then hone down to the 5 or 15m. If you like to place the trade, then go on vacation, then amp up to the daily, weekly, and monthly.

The grid is handy for this type of methodology, because you can use it to count how many grid lines you drifted from the MA. You can pull back the chart and see what the standard is for a deviation from the MA. Generally, an extreme reading is 5-6 grid lines.

 

[IAtma]

I didn't read entire thread....... sorry for interfare aswell spam....

but whatever few lines I read, I could find only cross-over, leading/lagging indicators.....

Kisi ko full-proof system mile to mujhe jaroor batanaa yaar.....:rofl::rofl:

 

[Debarghya Mukherjee]

I know a person called "MARKET" he knows everything. He can predict the right time to enter and exit points. Only he has a perfect system. You can contact to him. He has two websites
http://www.nseindia.com/
http://www.bseindia.com/
You can contact with him,

I didn't read entire thread....... sorry for interfare aswell spam....

but whatever few lines I read, I could find only cross-over, leading/lagging indicators.....

Kisi ko full-proof system mile to mujhe jaroor batanaa yaar.....:rofl::rofl:

 

[vssoma]

dear,
he'll never give you information/alerts in advance. the website has only past data.

I know a person called "MARKET" he knows everything. He can predict the right time to enter and exit points. Only he has a perfect system. You can contact to him. He has two websites
http://www.nseindia.com/
http://www.bseindia.com/
You can contact with him,