Pride's Intra-Day Strategy [Profit Everyday]

[prabit]

The buy sell was generated at the close of 12:05 bar at 4067.2 (according to my data)[/QUO

ACCORDING TO MY DATA AT 12:05 STOC WAS AT 90.24...WHICH IS IN AN OVERBOUGHT ZONE??

True. This is the problem.Though it was in overbought zone,yet from ema crossover it advanced 40 points.

 

[METIKEL]

HELLO PRIDE/ANKIT,

I am a newbie to this system...

due to a very choppy session today i m very confuse rather cautious to trade today???

Did you guys take any profitable trade since morning???

If yes, can you please post it here... i m very willing to follow you guys.

Thanks in advance

 

[bandlab2]

HDFC long coming in 2 min

 

[sharmasp5]

I remember an AFL was posted for this method. Is it true, could anyone point me to the AFL plz...

 

[bandlab2]

no profit on hdfc. c.o completed

 

[MurAtt]

True. This is the problem.Though it was in overbought zone,yet from ema crossover it advanced 40 points.

Read ST da - trading the oscillators --- Stoch or RSI in overbot/oversold region if stays for more than 5 bars has a lot of steam left in it ....

Don't worry buddy.. You should never regret missed trade and missed girl. Because there is always another coming up next.

Bingo .... All you lose is an opportunity --- and the stockmarket has too many of them that one down the drain will hurt anyone

 

[bandlab2]

guys i am losing interest on this method. may be i am not using it the way its supposed to be. as sunil mentioned this has to be used as scalping tool, means get out with 15-25 points (fix yr number). if you wait for c/o back your profit may evoperate. in the end too much screen looking without much profit and sometimes even loss

this method needs some tweaking. i know nothing about TA , but experts here like pride, ankit, sunil can make some changes to make it more effective. may be the intention is small profits, so be it. but need clear exit rules. or may be this is a tough period and this method not work in this type of situations.

unless someone clearly shows me the back tested results with consistent profits across several months, this is going to be a tough situation. or may be it doesnt work for stocks. may be we should use it only for nifty and that too with little profits.

alligning sun (30 min stoch) , earth (5 min stoch) and moon (5 min ema c/o) and being there at the right time is a tough combination.

i am not doubting its a bad method --- thanks again to pride for sharing this --- but we are not getting the best out of it or we are expecting too much

lets hear others views

 

[prabit]

That means this system generated a 20 point loss trade today. Short 1035 close 4063 Cover 1050 4085.

I anyways didnt take this trade because of aparent confusion over EMAs.

Hi Ankit and others, as the 30m chart showing now at 10.35 stoch is not showing short signal, because though the fast stoch is below,but is moving upward. pl check and confirm.

 

[ag_fx]

guys i am losing interest on this method. may be i am not using it the way its supposed to be. as sunil mentioned this has to be used as scalping tool, means get out with 15-25 points (fix yr number). if you wait for c/o back your profit may evoperate. in the end too much screen looking without much profit and sometimes even loss

this method needs some tweaking. i know nothing about TA , but experts here like pride, ankit, sunil can make some changes to make it more effective. may be the intention is small profits, so be it. but need clear exit rules. or may be this is a tough period and this method not work in this type of situations.

unless someone clearly shows me the back tested results with consistent profits across several months, this is going to be a tough situation. or may be it doesnt work for stocks. may be we should use it only for nifty and that too with little profits.

alligning sun (30 min stoch) , earth (5 min stoch) and moon (5 min ema c/o) and being there at the right time is a tough combination.

i am not doubting its a bad method --- thanks again to pride for sharing this --- but we are not getting the best out of it or we are expecting too much

lets hear others views

I agree with you bandlab...The method has lost some of its initial charm...As rightly observed by Sunil, this is at best a scalping method in longer run. Otherwise as we have seen, it generates trades which end up breaking even and we loose a bit of trading costs. When I tried backtesting this method for the month of January 2009, it gave only -ve results. On the contrary, it has given positive trades in past few weeks.

Also, Pride has been absent for past 10-15 days....Had he been here, it would have been a lot easier for us to learn and adapt better to this method.

The role of TA is limited here. This is a very mechanical method and defines clear rules for entry and exits and thus TA would be of little help.
Regarding stocks, like Pride himself said, he has tested this method only on NF and nothing else.

Here is a small tweak that Sunil is working upon. But before you open the links, please note these things:

1) It is NOT a system yet.We are trying to build something here.

2)This tweak will require GOOD knowledge of TA as it tried to combine 2 different system. So it is not going to be easy for newbies to trade it right away and a lot of learning wil be required.

3)Please dont post any queries/questions about this tweak on Sunil's thread. If we are able to devise a successful strategy, we will open a new thread for itself. Comments/suggestions are anyways welcome on this thread only. Sunil's thread is for a different purpose and I request all the fellow traders to observe the discipline.

http://www.traderji.com/trading-diary/29778-daily-tryst-nifty-47.html#post332807

http://www.traderji.com/trading-diary/29778-daily-tryst-nifty-46.html#post332803

Hi Ankit and others, as the 30m chart showing now at 10.35 stoch is not showing short signal, because though the fast stoch is below,but is moving upward. pl check and confirm.

MOVING UPWARD is no criteria prabit

 

[prabit]

I agree with you bandlab...The method has lost some of its initial charm...As rightly observed by Sunil, this is at best a scalping method in longer run. Otherwise as we have seen, it generates trades which end up breaking even and we loose a bit of trading costs. When I tried backtesting this method for the month of January 2009, it gave only -ve results. On the contrary, it has given positive trades in past few weeks.

Also, Pride has been absent for past 10-15 days....Had he been here, it would have been a lot easier for us to learn and adapt better to this method.

The role of TA is limited here. This is a very mechanical method and defines clear rules for entry and exits and thus TA would be of little help.
Regarding stocks, like Pride himself said, he has tested this method only on NF and nothing else.

Here is a small tweak that Sunil is working upon. But before you open the links, please note these things:

1) It is NOT a system yet.We are trying to build something here.

2)This tweak will require GOOD knowledge of TA as it tried to combine 2 different system. So it is not going to be easy for newbies to trade it right away and a lot of learning wil be required.

3)Please dont post any queries/questions about this tweak on Sunil's thread. If we are able to devise a successful strategy, we will open a new thread for itself. Comments/suggestions are anyways welcome on this thread only. Sunil's thread is for a different purpose and I request all the fellow traders to observe the discipline.

http://www.traderji.com/trading-diary/29778-daily-tryst-nifty-47.html#post332807

http://www.traderji.com/trading-diary/29778-daily-tryst-nifty-46.html#post332803








MOVING UPWARD is no criteria prabit

Ankit, I may be wrong, but pl go to the first page and read the first point in full where pride said for long entry in 30minutes chart stoch should be bullish i.e should be going upwords.