Intraday profit system

[4xpipcounter]

Thanks, Debarghya. You had a more tactful way of wording that then I did.

Please everybody express your total view on Day Trading. How this is bad or how this is good.
If you have lost money then what was strategy. We don't not want to humiliate you, I mean no need to share amount you lost.We just want to inform our new traders, how they can benefit from day trading or what are the mistakes they can avoid.

 

[Debarghya Mukherjee]

@Paul
U welcome.

 

[Debarghya Mukherjee]

NO INDIAN IN TOP 10 RICH LIST? SHAME!!​

 

[TradeJoker]

i'm a daytrader, after learning some TA i'm using an old afl posted here in traderji.and i've added some MM rules to it. with strict discipline this system is profitable for me (ya.. 'Discipline' which is very difficult for me )

 

[4xpipcounter]

Traderjoker, you just about nailed it as far as the discipline goes. It is the intangible element of the big 3 in developing the methodology towards being a successful trader. It is the most important element, and you never know exactly how your discipline is until you put your live money on the line.

A key to being successful as a daytrader is being aware of what is going on around you, namely the peripheral TF's. Here's 2 examples, live, albeit, in the rear view mirror right now. Both trade came from the heart of my FX Correlator, and confirmed by my methodology:
1. AUD/JPY: I took a short on this pair, as soon as it spiked on the open at 80.00. My TP was 79.60 in lieu of the WP. It was almost a perfect trade that was set before I went to sleep for the night and woke up to + pips.
2. NZD/JPY: Another short right from the heart of FXC. It was entered on the spike at 60.87, TP'd at 60.54-- another almost perfect trade.

I mentioned being aware of what is going on around you. The WP I figured would contain for both of these positions because the upward proclivity still favors the daily chart.

FYI, I post intraday, MT, and LT trading opportunities at this link. They are based solely on the OB/OS conditions of individual currencies, which makes it very simple.

BTW, I'm only posting that in context with the conversation. It is not my intent to direct anyone away from Debarghya's thread.

i'm a daytrader, after learning some TA i'm using an old afl posted here in traderji.and i've added some MM rules to it. with strict discipline this system is profitable for me (ya.. 'Discipline' which is very difficult for me )

 

[gb333]

Hi Debarghya,
With ur 5-10 Min mov avg which indicator works good?

 

[Debarghya Mukherjee]

You can use any momentum indicator along with 5-10 MA. It may be Stochastic, or ADX.

Hi Debarghya,
With ur 5-10 Min mov avg which indicator works good?

 

[Debarghya Mukherjee]

No Business ---> No Jobs ---> No Spending ---> No Bank Loans ---> No Rotation of money ---> MORE INFLATION ---> LOW DEMANDS -------> COMPLETE DESTRUCTION OF ECONOMY


But Nobody is interested in it . . .
--------------------------------------------------------
Debarghya Mukherjee

 

[vinst]

No Business ---> No Jobs ---> No Spending ---> No Bank Loans ---> No Rotation of money ---> MORE INFLATION ---> LOW DEMANDS -------> COMPLETE DESTRUCTION OF ECONOMY

But Nobody is interested in it . . .
--------------------------------------------------------
Debarghya Mukherjee

with Low demand, inflation wouldn't be high.
complete destruction of economy won't take place.

definition of business may change. It would be self-driven, not financed by IMF, World bank.

 

[Debarghya Mukherjee]

Well I hope you are right. "definition of business may change. It would be self-driven, not financed by IMF, World bank"

But INFLATION creates low demand. Think it like this

More inflation more money to buy goods, but at one level it will loose customers.

with Low demand, inflation wouldn't be high.
complete destruction of economy won't take place.

definition of business may change. It would be self-driven, not financed by IMF, World bank.