My System - My trades.

[varunkochhar]

 

[varunkochhar]

Why shorts sir ? In 1 min chart price went above the 180ema and also broke the pivot high??

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You answer that. How do we qualify shorts in any time frame. When price is below 200EMA in that time frame. Right. After hitting our stop did it not take out the pivot low below this sending us short again.

 

[arjun.panda]

i just wait for the ema s to come together...then check for pivot high and low ...then go short or long on breach of any pivot...

 

[varunkochhar]

What does one do in case of a failed trade. You take the new (opposite trade being offerred). You do not stay in the same trade. I mean if you had entered say long at that signal then you must have kept an sl. When that sl would have hit you would technically go short na as this signal is from 200(180) EMA.

 

[arjun.panda]

Yup...

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[varunkochhar]

To remove any confusion. Just keep the breach of the last pivot below 36EMA to start with when you get the 1st signal from 200EMA.

 

[arjun.panda]

Oh...thanks...didnt knew that

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[varunkochhar]

If you really want to succeed and make profits in this method then you have to be really mechanical in your trades with full anticipation that the trade might fail and to book loss in that trade. We win big when we get a trend and get adds. No analysis needs to be done before taking a trade as that leads to paralysis in pulling the trigger.

 

[varunkochhar]

It is this fear psychosis that stops us from taking trades. I will just post a chart of everybody's favorite Bajaj Finance. I am sure looking at its pedigree and the flavour of the month status, none of us would have shorted it. Right. But if we had mechanically followed the signals and also taken adds, we could have got about 600 points in shorts from the 8th of this month. With a lot size of 500 that translates to Rs.300000 profits in 5/6 trading days.

 

[varunkochhar]