no one going to earn even single rupee day trading

[abhiwhy]

i would not suggest candlestics in day trading (yet its an excellent indicator itself) , but day trading is very fast and confusing , trends changes in seconds market reverse any time and the any specific pridiction has a very short life in day trading but as you have no solution as ur trade tiger terminal do not have indicators , i would suggest u alternative, use 50 period simple moving average in 1 min chart (if market need to go bullish it will be above it ) (if bearish it will be below it ) so if u can guess with accuracy ( as u mentioned u can ) the direction of market then go long after the price goes above 50 period simple moving average and short after price dips below it . u may or may not set .50 % target , ( depends upon u ) as it has huge profit potential but better to avoid position against (50sma ) direction for long time . practice some day and u will get what i exactly meant ..:thumb: in rangebound markets condition is going to be worse .!!!!!!!!!!!!!!!!!!!! happy trading

thanks for the prompt reply abhi. i shall try this setting tomm while trading, though something is still not clear as maybe you are talking about 50 sma trendline. i could not understand the phrase about 50 sma being over...it... in the chart i see 50 sma on left of the candlesticks when short signal & 50 sma on right when buy signal & i could make out the crossover happening, but failed to see 50 sma over it regards, rishi

bhai mere its same thing :annoyed: ok!!!!!!!!!!! u forget over it and under it , long on golden cross and short on dead cross. 50 sma trendline. is okey . ((((((trendline is never in right or left to price but under or over on a given time , see a price chart and zoom there now bring cross hair to any specified bar , the value of moving average will come below or above or equal , what does cross means ?????????????? cross means either value of price goes above moving average or goes below it , suppose price is at 100 and moving average (suppose 50 period) also at 100 , now it price increases to 102 it is a golden cross and value of price will be greater than the value of moving average & if price falls to 98 it is a dead cross and price will fall below the value of moving average )))))))

hi abhi

i am a bit more acquainted on certain terms now.

what i have done is, i have placed two moving averages on the intraday chart with diff colours on a 5 min chart, namely sma 20 & sma 50 period.

so according to what you told me earlier, if sma 20 crosses sma 50 and goes above it, its considered a buy signal right ?

i have taken the green colour line to be sma 20 & red one as sma 50, though i understand colours don't matter but just for my uinderstanding.

i see the nifty chart in post # 149 in which sma 20 (green) crosses over sma 50 (red), you have given buy signal.

pls correct me if i am wrong.

secondly, i see different people use different indicators...but according to you what indicator is best between EMA or SMA for the purpose of intraday, given i don't have di + di - in tradetiger from sharekhan.


many thanks to you

regards,
rishi

I HAVE NEVER TOLD U ANY STRATEGY USING 2OMA AND 5O MA CROSS OVER

I HAD TOLD USING 1 MIN CHART IF WE USE 50 MA .
IN POST 149 I CANT SEE 20 MA THERE IS ONLY PRICE CHART AND 50MA . U R HIGHLY CONFUSING ME

 

[abhiwhy]

====================================================

hi,
i just read your post. As you said you use intraday chart and use 5 min sma. How you do this? I mean i have angel...terminal. It is on odin system. Odin provide intraday charts but i do not find and access to draw/have a intraday sma. Please respond. If anyone else know this, his post will be appreciated. Thanks.

rishi uses sharekhan trade tiger

 

[Rkji]

i understood you only used 50 ma on 1 min chart....if i understand it correctly 50 ma is simply moving avarage of 50 candles....i only use candlesticks as other settings go over my head

i couldn' t understand the crossover with the green line.

if red line is 50 ma as in the chart then what does red trendline depict ?

i am going in tradetiger now to see how your setting appears to me.

appreciate your guidance

regards,
rishi

 

[puduags]

Sir What is mdi pdi Can you please explain

 

[abhiwhy]

i understood you only used 50 ma on 1 min chart....if i understand it correctly 50 ma is simply moving avarage of 50 candles....i only use candlesticks as other settings go over my head

i couldn' t understand the crossover with the green line.

if red line is 50 ma as in the chart then what does red trendline depict ?

i am going in tradetiger now to see how your setting appears to me.

Appreciate your guidance

regards,
rishi

rishi

i had posted following chart

here is the image of nifty last day

in this chart there is only one moving average i.e., 50 period , price is in candle, 1 min , rising candles are green and falling candles are red ,(CHART HAS NOT BEEN TAKEN FROM TRADETIGER BUT USING CHARTING SOFTWARE METASTOCK ) , AND

can u explain me what do u mean by red line and green line

 

[Rkji]

this is how the intraday chart of denabank appears today in sma 50 1 min setting

would you plz be kind enough to highlight any shorting or buying oppertunity looking in the chart

following is my current setting of two sma' s on a daily chart of denabank
which tells me that when sma 20 crosses sma 50 its bullish indication.

many thanks

regards,
rishi

 

[Rkji]

hi abhi

savant sir told me to use 5/6 sma or 20/50 sma to stay on the right side with smart money. i suppose he suggested using combination of two moving averages.

so in order to highlight sma 20 i have used dark purple colour as you would see in my uploaded pic & sky blue colour for sma 50



regards,
rishi

can u explain me what do u mean by red line and green line

 

[Rkji]

since you are only using one average you only see one trendline red in colour

so what i grasped from you is when the 50 sma trendline crosses the price trendline & is above it, you call it a bullish signal. i guess 2 moving averages could be good for swing trading seeing at daily charts whereas on intraday chart 50 ma 1 min could be good enough.


pardon me for confusing you

regards,
rishi

rishi

i had posted following chart


in this chart there is only one moving average i.e., 50 period , price is in candle, 1 min , rising candles are green and falling candles are red ,(CHART HAS NOT BEEN TAKEN FROM TRADETIGER BUT USING CHARTING SOFTWARE METASTOCK ) , AND

can u explain me what do u mean by red line and green line

 

[abhiwhy]

1) your chart is not visible ,i can't see any

2) what sawant sir has told u , can u tell me thread and post no. please , in order to see what he actully said u .

3) ya 2 and 3 moving average trading systems are in use , you could use different moving average combinations in intraday charts .

1) most famous 313technique 3(exponential moving average) and 13(ema ) combination (in this enter into trades when 3ema cuts 13 ema and exit on next cross in opposite direction ) .

2) 515 technique , here same setup is used but 5ema and 15ema crossover is used in order to enter and exit trade .

3) 2o ema and 50 ema , here 20 and 50 period ema crossover is used to enter and exit trades .

4) several people use 34 or 50 period moving average in order to filter trades , for this purpose the pick buy signals given buy 313 or 515 technique only when both (3ema and 13ema) or the (5 and 15 ema) are above 34 or 50 ema.
in this case they avoid short signals

opposite is also true if 3and 13 ema set or the 5and 15 ema set is below 34 or 50 ema then they would pick only short signals not any buy signals .

.:thumb:

 

[abhiwhy]

this is how the intraday chart of denabank appears today in sma 50 1 min setting

would you plz be kind enough to highlight any shorting or buying oppertunity looking in the chart

following is my current setting of two sma' s on a daily chart of denabank
which tells me that when sma 20 crosses sma 50 its bullish indication.

many thanks

regards,
rishi

rishi , here is ur chart

so u want to trade 20period and 50 period moving average crossovers. in intial phases this combination looks good but there are some demarits associated with this combination .

1) it gives signals very late, as for example in ur chart u can see the 3rd circle i have highlighted , when the moving average made cross over (golden cross) , the price was around 64, so u r going to buy at much higher level because if u buy when 50 period moving average was crossed by price it was around 52,
so .
also when the opposite signal will come (it did not came in ur chart on that day ) it will be at very much lower rate as a result u will not gain anything .

2) in circle 1 and 2 u can easily see false signals , and trading expenses like brokrage , stt , service charges etc. is added to ur losses and is being subtracted from ur gains .

3) i have tried almost every possible sets of moving averages in day trading but haven't got any system trustworthy, everyone has its own drawbacks , so better to take idea about market direction from them instead of trading such systems .

4) if u want my suggestion i would advise u only to get one sided signal from such systems . (i.e., either to take buy or short signal , but determine ur self the proper exit from the open position u have ).

regards

abhi

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