You may then change the Title of the thread, it will no longer be a "Paper trade as per 315 Strategy"!! Munde, I read comments by rkk, and agree with him if paper trades are done to promote oneself to actual trade. If you book profits at 3 to 4 % , atlest be specific whether it is 3 or 4 %. Why not follow the exit and reentry as per 315. Also just see, you loose profits in a script you are considering a Trailing SL which has no place in original strategy of SH!! Just my view, it is your thread and it is upto you how you paper trade.
Paper Trade of 315 Strategy
- Thread starter munde_77
- Start date
Dear umesh,
I think you not read 315 strategy fully....please look following part which SH posted in 315 strategy....
I have now explained all my rules making 315 more effective, please use them as per your money management rules and hopefully you all will make money. to summarise the rules:
1. Build up on winning positions gradually by following 'ADD' rules.
2. Exit on candles where 3 EMA is not touching the candle body using 'effective profit booking' rule.
3. Never let a winning position become a losing one... use 'effective SL' rule.
I think you not read 315 strategy fully....please look following part which SH posted in 315 strategy....
I have now explained all my rules making 315 more effective, please use them as per your money management rules and hopefully you all will make money. to summarise the rules:
1. Build up on winning positions gradually by following 'ADD' rules.
2. Exit on candles where 3 EMA is not touching the candle body using 'effective profit booking' rule.
3. Never let a winning position become a losing one... use 'effective SL' rule.
Dear umesh,
I think you not read 315 strategy fully....please look following part which SH posted in 315 strategy....
I have now explained all my rules making 315 more effective, please use them as per your money management rules and hopefully you all will make money. to summarise the rules:
1. Build up on winning positions gradually by following 'ADD' rules.
2. Exit on candles where 3 EMA is not touching the candle body using 'effective profit booking' rule.
3. Never let a winning position become a losing one... use 'effective SL' rule.
I think you not read 315 strategy fully....please look following part which SH posted in 315 strategy....
I have now explained all my rules making 315 more effective, please use them as per your money management rules and hopefully you all will make money. to summarise the rules:
1. Build up on winning positions gradually by following 'ADD' rules.
2. Exit on candles where 3 EMA is not touching the candle body using 'effective profit booking' rule.
3. Never let a winning position become a losing one... use 'effective SL' rule.
Things are fine if the same are followed as a rule universally, but what happens is just because we are paper trading we take undisciplined actions (have not noted such action on part of Munde as yet) and usually after the right side of the chart is visible. It is like deceiving oneself. Should be avoided by all means. As I said if the paper trading is to promote oneself to actual trading, he should try to be as near to "actual" trading as possible. If Munde is to follow a TSL as per levels of preceding 2 bars, as was also advocated by Saint in one of his trading strategy, it would be good if he does it every time as a rule!! Aim is to be as mechanical as possible.
Would love to have inputs from SH, you and others about the point number 3 above:
3. Never let a winning position become a losing one... use 'effective SL' rule.
In the recent trade in Nifty we went long at ~5554 on 31st May , it went upto ~5610 and then reversed to Short at 5486. What should a person do to prevent this position to go negative, hedge it with Options? or use a TSL, if a TSL at what level? This clarification may also help others.
If Munde feels that we are cluttering his thread, I may post my query in the mother thread.
Thanks for pointing out this important aspect that it seems I overlooked .
Things are fine if the same are followed as a rule universally, but what happens is just because we are paper trading we take undisciplined actions (have not noted such action on part of Munde as yet) and usually after the right side of the chart is visible. It is like deceiving oneself. Should be avoided by all means. As I said if the paper trading is to promote oneself to actual trading, he should try to be as near to "actual" trading as possible. If Munde is to follow a TSL as per levels of preceding 2 bars, as was also advocated by Saint in one of his trading strategy, it would be good if he does it every time as a rule!! Aim is to be as mechanical as possible.
Would love to have inputs from SH, you and others about the point number 3 above:
3. Never let a winning position become a losing one... use 'effective SL' rule.
In the recent trade in Nifty we went long at ~5554 on 31st May , it went upto ~5610 and then reversed to Short at 5486. What should a person do to prevent this position to go negative, hedge it with Options? or use a TSL, if a TSL at what level? This clarification may also help others.
If Munde feels that we are cluttering his thread, I may post my query in the mother thread.
Things are fine if the same are followed as a rule universally, but what happens is just because we are paper trading we take undisciplined actions (have not noted such action on part of Munde as yet) and usually after the right side of the chart is visible. It is like deceiving oneself. Should be avoided by all means. As I said if the paper trading is to promote oneself to actual trading, he should try to be as near to "actual" trading as possible. If Munde is to follow a TSL as per levels of preceding 2 bars, as was also advocated by Saint in one of his trading strategy, it would be good if he does it every time as a rule!! Aim is to be as mechanical as possible.
Would love to have inputs from SH, you and others about the point number 3 above:
3. Never let a winning position become a losing one... use 'effective SL' rule.
In the recent trade in Nifty we went long at ~5554 on 31st May , it went upto ~5610 and then reversed to Short at 5486. What should a person do to prevent this position to go negative, hedge it with Options? or use a TSL, if a TSL at what level? This clarification may also help others.
If Munde feels that we are cluttering his thread, I may post my query in the mother thread.
Yes....if we trade any method we must need to stick to rules ...or anyhow near to the rules,,,,if any tweeks we do in it then must be follow it more than 3 months IMO....and your lines (bolded)..is very imporatant in any type of chart based trading :clapping:
as of about point 3 you can find it in detail in SH's thread....he posted all his rules in clear....
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