My daytrading

[gunavadhi]

High -5453
Low - 5442

Place a Buy order of 1 lot above IB at 5453 + filter (say 3 points) = 5456
Place a sell order of 1 lot below IB 5442 + filter (say 3 points) = 5439

Once the long order is caught @ 5456. Place 2 lots as SAR @ 5439.Now what happens if price reverses?Your long order gets sq off @ 5439 (1 lot) and a short position of 1 lot is opened.Hence either way you get benifited with low risk.

Number of lots I have mentioned is hypothetical.That's it for the day .Catch you some time later.

maybe a dumb doubt.target for this trade bro?

 

[manjit ritwal]

thanku sir for this nice thought

 

[Raghavacc]

Todays ICICI Bank 5 Min chart

Market is a dynamic entity.One has to to keep on evolving to sustain and grow here.In my early days I used to scalp and it was based on this technique called "Exhaustion technique"

It works wonderfully in a sideways market. What is exhaustion? when you run for a while you get tired and say I got exhausted.Same thing here.In a sideways market Bulls and bears get exhausted after a small move only .Thats the time I take position.

How to identify that they got exhausted. Simple. Extreme volume with WRB and that bar is squeezed or in other words that bar has longer wick.Chart says it all.

When bulls exhaust go short keeping the S/L just above exhaustion bar and when bears exhaust vice versa.

Rest of the things is explained by chart.Please go through it, analyse,do homework.Its something meant for sideways market...............

 

[balasoft80]

Hello Raghav,

Recently I have observed that whenever market opened in long black candle with BB lower band piercing, it continues to drop from there... So I think we can place the sell order below of that bar.

Could you please let me know your thoughts on this?

Also please let me know how many points is better to use as filter.

Thanks
Bala

 

[log1102]

Hi Raghav

On todays 30 minute NF chart posted below, I have marked 5 bars. Which of these are truly inside bars to take the trade? Are there any technical parameters regarding body of the candle formed etc or is it just high and low within previous candle?

I took the long trade on candle 4 on break of previous 5 minute pivot high, got stopped out. Did not give SAR order since market had been rangebound till then

Thanks.

 

[Raghavacc]

Hi Raghav

On todays 30 minute NF chart posted below, I have marked 5 bars. Which of these are truly inside bars to take the trade? Are there any technical parameters regarding body of the candle formed etc or is it just high and low within previous candle?

I took the long trade on candle 4 on break of previous 5 minute pivot high, got stopped out. Did not give SAR order since market had been rangebound till then

Thanks.

Absoltely great I can say- Log,

You seems to be new to trading.Still You have understood every point I have mentioned about Inside bars .The chart you have put and the question you have posed says it all.What all you need is just a small tweaking here and there.Thats it ,you will do it right way.

Currently I am occupied heavily. Hence will make comments later on your points on the charts. I would love other friends to come up with such charts and questions like this.Then only the development as a trader takes place.

Good going Log.Keep them up.

 

[balasoft80]

Hello Raghav,
Could you please clarify the below points too?

1. If market has opened Gap up / Gap down and also second bar is inside bar means, can we consider this scenario to put order? As per your earlier posts minimum market needs 1.5 hours to settle down. If second bar means that is within 1 hour.

2. Inside bar means it should be exactly within previous bar or 1 or 2 points up/down should be fine?

Thanks
Bala

 

[kmgsm]

Raghav ji, the marked bar in the chart qualifies for an exhaustion bar ? If yes, the entry and SL are correct ? Pls clarify.

Thanks

 

[casonite]

Hi Raghav,

Thank you so much for your posts. For people like me who are not naturally talented as a traders your posts are a great learning. I have read alot of books but learnt more from your posts. I have started paper trading and took a trade today and wanted to know if i followed your system correctly. The only thing i want is to be able to learn and follow the system religiously because thats the only thing that will help me in the long run.

Took following trade in Nifty. Short at 5396 with SL and 5403 [62.8% retracement]

Regards
Nitin

 

[casonite]

had added to my short at 5376 , 1 lot with trailing SL to 5381 [just above PL]

Covered both shorts at 5368.90 just now.

Previous chart was a 30 min chart but i am making buy/sell decisions based on 5 min charts looking stchs

regards
Nitin