New Day - New Trading To Get Rich Strategy

[tradetogetrich]

Looks like we are good to go long above 5285:clap:

 

[tradetogetrich]

Nifty has taken support at 5255 in the last few days ... lets look at that as our SL

 

[tradetogetrich]

Today's last minute sell off looks like was to eat out bulls SL and bears SL sell ... tomorrow there will be a definite trend ... lets get set for some action in nifty :clap:

 

[tradetogetrich]

Big gap against the trend ... overnight risk of 50pts is always factored in but this gap is around 90pts ... place SL only at 5350

 

[pankajpari]

Hi TTGR,
May be a silly one, but can you pls explain the strategy in words. I have somehow not understood the same thru your charts.

 

[tradetogetrich]

Hi TTGR,
May be a silly one, but can you pls explain the strategy in words. I have somehow not understood the same thru your charts.

Hello Pankaj ...

Let me explain this is simple terms. This is on 60mins TF.

1. We need to identify Swing Highs (SH) or Swing Lows (SL). Swing high is high of the candle which is preceded and followed with candles of lower highs. Swing Low is low of the candle which is preceded and followed with candles of higher low.

2. Whenever SH is broken we enter long with SL as stoploss and vice versa. After breaking SH and after few candles if a new high is formed then our stoploss shifts to the higher SL. So for example, if 5350 was the SH and it got broken, we buy with SL (ex:5320) as stoploss. Say after few hours new SL(5340) is formed and also we make a new high then 5340 becomes our SL>

3. If there is a runaway on prices for example today, then we try and use 3 hour technique. So if we are long then the 3hours low is stoploss and if we are short then 3 hours high is the stoploss.

4. Its always prudent to books profits to avoid losing out as the stoploss is generally deep.

5. Money management is given the highest importance and as there is overnight risk we always cut our position if there is no buffer in the running trade. For ex: We are short at 5252 and market closes at 5260 as there is no profit buffer we try to close the trade on the same day itself.

Hope this clarifies. Write back if you need more detail or have any suggestion :clap:

 

[manu_nbd]

You not trading DLF anymore as no charts or updates since sometime?

 

[satyen2073]

wel nice method u find tht its so nice
5 min and 30 min time frame always give u some worng sl hit sar hit so losss is higher then gain but use 60 min is wel
i m lover of 60 min chart for trade but always have prob of deep sl but u do slove this big weekness sof 60 min time fram THT BIG WORK U DO .. 3 CANDLE HIGH LOW IS FOR SL thts nice find by u
gud work this is keeep it
ok tel u one thing use this metod for hdil jp ass. tatasteel tatamot. and reliance ind.
coz i trade on tata steel and ril for more then last year use 60 min chart . so it sure give nice return .. i m sure... i have prob of deep sl but u find for tht so now try it
AND FRIDS OF TRADERJI WHY U NOT ALSO DO SOME WORK ON THIS AND AFTER THT WORK ASK HERE tht wil gud for all to know howz method works in very short time and many share

thx

 

[tradetogetrich]

You not trading DLF anymore as no charts or updates since sometime?

I havent traded actively last week as I was unwell. Feeling better since yesterday. DLF I havent traded for the same reason.

 

[tradetogetrich]

wel nice method u find tht its so nice
5 min and 30 min time frame always give u some worng sl hit sar hit so losss is higher then gain but use 60 min is wel
i m lover of 60 min chart for trade but always have prob of deep sl but u do slove this big weekness sof 60 min time fram THT BIG WORK U DO .. 3 CANDLE HIGH LOW IS FOR SL thts nice find by u
gud work this is keeep it
ok tel u one thing use this metod for hdil jp ass. tatasteel tatamot. and reliance ind.
coz i trade on tata steel and ril for more then last year use 60 min chart . so it sure give nice return .. i m sure... i have prob of deep sl but u find for tht so now try it
AND FRIDS OF TRADERJI WHY U NOT ALSO DO SOME WORK ON THIS AND AFTER THT WORK ASK HERE tht wil gud for all to know howz method works in very short time and many share

thx

Thanks for suggesting stocks. Ill try them too