My System - My trades.

[XRAY27]

Guys give me a break. Can any body point out where i have not followed the basic rule of not following my ribbon rule anywhere in any of my trades discussed yesterday. There is a difference between rule and filter. It is like having a plain vanilla icecream (basic rules) or having chocolate sauce and nuts (filters) on it. I would have been grossly wrong if i had taken a short in the blue ribbon period or a long in the red ribbon period. Can anyone pls point out where i have done that. St ji just told me something and i am sure he would have understood my point of view when i explained it to him. I thought that was the end of the discussion. But now i find other people also jumping in without understanding what the problem was in the first place. I think it is unfair.

Varun ji Nothing wrong with your flow !!! i just divided your systems in two categories first is basic setup which is for newbies and starters another is for pro trader setups

please correct me if i'm wrong .


Basic setup :

1.36 200 EMA on Price OBV with 36 being PB and add on and 200 trend decider

2.Ribbon method.. Its all so simple with all ribbon of same color go in that direction

Pro setups

1.HH and HL entry in OBV

2.BO and BD around PDC of OBV and trade in that direction

 

[varunkochhar]

Varun ji Nothing wrong with your flow !!! i just divided your systems in two categories first is basic setup which is for newbies and starters another is for pro trader setups

please correct me if i'm wrong .


Basic setup :

1.36 200 EMA on Price OBV with 36 being PB and add on and 200 trend decider

2.Ribbon method.. Its all so simple with all ribbon of same color go in that direction

Pro setups

1.HH and HL entry in OBV

2.BO and BD around PDC of OBV and trade in that direction

Xray ji thanks for the explanation. I am a bit of a tubelight. What does PDC mean.

 

[Smart_trade]

Xray ji thanks for the explanation. I am a bit of a tubelight. What does PDC mean.

PDC= Previous Day's Close

ST

 

[XRAY27]

Xray ji thanks for the explanation. I am a bit of a tubelight. What does PDC mean.

Varun ji i'm a zero watt :lol:

Previous day OBV close so said PDC

 

[varunkochhar]

Ok then. Gyan for today. Take the signal as per the ribbon system in totality. No half measures. So say that you start with a 100shares on getting the buy signal as per the ribbon system and your SL is 2 rupees. Sell 50 shares (half your position) when you are in profits of 2 rupees(to cover your risk), but do not (i repeat) do not bring your stop to breakeven (as most of us do). Instead only follow SL thrown by the system. From here on take adds thrown by the system to add to your profitability but do not tinker with the SL randomly.

 

[varunkochhar]

When you get the add your sl would automatically come up.

 

[monkeybusiness]

Ok then. Gyan for today. Take the signal as per the ribbon system in totality. No half measures. So say that you start with a 100shares on getting the buy signal as per the ribbon system and your SL is 2 rupees. Sell 50 shares (half your position) when you are in profits of 2 rupees(to cover your risk), but do not (i repeat) do not bring your stop to breakeven (as most of us do). Instead only follow SL thrown by the system. From here on take adds thrown by the system to add to your profitability but do not tinker with the SL randomly.

My nemesis :lol:

 

[varunkochhar]

Another observation i would like to share with you. But only on this condition that you will take it as a guideline not a RULE. With Happy ji's latest AFL to mark the OBV PDC (i hope i got it right Xray ji) you can consider the 2day back obv PDC's as threshhold levels to take contra trades too or to book profits (if you do not want to take contra trades) intraday. So say you are long and the OBV levels hit the 2day back opening levels of OBV, chances are bright that it may act as a resistance if it is above today's pdc levels and act as support if it is below today's pdc levels. The reasoning is simple we need extra volumes (either ways) to take the price to the next level to sustain or change the trend whatever the case may be. Does that sound confusing.

 

[varunkochhar]

This is a chart of Compressed OBV of Natural gas for the current contract. The dotted lines are the PDC levels as per Happy ji's AFL. See how easy it was to actually see when NG topped out and bottommed out positionally. Same way you can pull up any chart of any instrument to get this information. Do post some charts also for others to realise the potential. The sell as per this method came during the last week of January around 230 levels. And the buy at around 180 levels during the last week of Feb.

 

[varunkochhar]

BN compressed OBV 1min. charts. The buy came at around 18000 levels in the 1st week of jan.