Pride's Intra-Day Strategy [Profit Everyday]

[manojkch]

Not yet... may be after completion of this bar if the crossover sustains.

You are referring cash charts Radhaji.. it may mislead.

 

[metushar]

short triggered

 

[radha55]

Not yet... may be after completion of this bar if the crossover sustains.

You are referring cash charts Radhaji.. it may mislead.

Yes. But i can use this for learning and paper trading and also for Trading in "In the money" options.

I am a learner yaar. abhi tak bahut gavaya hai is bazaar me.

Still having hopes that some trading system will give me profit.

On top of this, i dont wont to pay 350rs. for seeing real time charts when, "I am a part time trader", "month has only 20-22 days of trading", "i cannot follow the market everyday due to my office work.".

so i think it will help me in learning and doing paper trading.

Thanks man for replying.

 

[radha55]

I think the short should be covered now.

Market will again go up.

The third point which i told few post back has given me signal to exit short.

I hope the signal is right.

I will post that 3rd point after market hours.

------------------------

Also, market may form "W" so huge rally for today from now. (This is just observation not based on this theory.)

 

[metushar]

yes closed at last bar's close....minor gains

 

[metushar]

long at 2.15 close...trailinig stop loss now to low of 2.40

 

[radha55]

Hi All,

Today i was at home and on leave, so i got more time to closely look at real time charts.

I already posted few suggestions few posts back related to this theory.

Also, during market i observed one more point which was very usefull entire day.

I will now post 2 images. The first one is a buy and sell call based on the actual theory mentioned here.
Second image is the image which shows buy and sell signal based on this theory but with my modified observation.

 

[radha55]

Here is the first image which gives buy and sell call based on actual theory.

if i calculate profit for this assuming NIFTY FUTURES behaved the same way NIFTY SPOT behaved (above image)
4240-4230 = 10 points
4260-4230 = 30 points
total profit = 40 points.

Now i post the second image.

I call this observation and "friend and enemy" observation.

1. We dont look at stcohastic, we just look for EMA crossover (5EMA and 13EMA).
2. Once we enter long or short position, we look for friends and enemy (5 min candle).
3. How to find friend and enemy.
If we enter the short position, it means we expect downward direction. So if we see red 5min candle, it is our friend and when we see green 5 min candle it is our enemy. Friends are always friends but enemies may be weak enemy or strong enemy.
To know which is strong enemy, we look at the enemy with respect to 5EMA line. If the enemy(in case of short it is green candle ) is touching the 5EMA line, it is weak enemy. But if it does not touch 5EMA line, it is strong enemy. Whenever we find strong enemy, we reverse our position. (i.e if we are short we cover short and at same time enter long.)

Similar way we find the strong and weak enemy for long position.

4. Stop loss will be the same as the main actual theory.

Let us check how this rules apply in today's market
As seen in the above image,

the EMA crossover takes place at point 1. (1 marked in image)
So we went short at around (4260).
Now we look for friend and enemy. As soon as we enter short we found one enemy (the next candle) white candle. but it was touching 5EMA. So it is weak enemy, it cannot harm us.

After few candles(at point 2) we find one candle which is not touching 5EMA, but it red candle (blue color in my chart). so since we are short it is our friend.
The next candle is a white candle which seems to be enemy but is very closely touching 5EMA, so it is weak enemy, no need to worry.
Just 3 candles before point 4, is the white candle not touching 5EMA, so it is strong enemy, so we reverse our position. We square off short (4215) and enter long(4215)
Now since we are long we look for red candles which are strong enemy.

See point 4, we found one blue (or red) candle which is not touching 5EMA, so it is strong enemy. But but but....... here there is an exception (at the same time, there is a crossover from low to high, which gives signal for buy, so we do not consider this as a strong enemy.

We continue with our long position. At point 5 we again find blue (or red) candle which is not touching 5EMA. This is string enemy. So we reverse our position.
We cover our long (4245) and enter short(4245).

Again after we enter short at point 6, we find white (or green) candle which is not touching 5EMA, so it is strong enemy.
We reverse our position. We cover short at 4220 and enter long (4220).

Since we are long we look for blue / red candle.
We find blue/red candle at point 8 (it is not touching 5EMA), so we reverse our position.
We cover our long(4260) and enter short(4260). (its already 3 pm, so it depends on us should we do more trading or not).
Lets assume we want to do more trading and we enter short.

We now look for white/green candle. We found this at point 9.

So we square off our short at 4230.

Now lets calculate the profit

1. 4260-4215 - 45 points.
2. 4245-4215 = 30 points.
3. 4245-4220 = 25 points.
4. 4260-4220 = 40 points.
5. 4260-4230 = 30 points.

total profit = 45+30+25+40+30=170 points.

Looks like magic.

But
VERY IMPORTANT
I request you all to follow the basic actual thoery which you were using uptill now.
Since, this was my first day watching charts very carefully. i found this. It is very possible this is just coincidence. I may be wrong. Since i just found something intersting, thought to share with all of you.

PLEASE PLEASE PLEASE PLEASE use this way of trading only after you are confidence for few days.

I will be paper trading this method for few days.

Seniors comments are highly required.

 

[skr]

Radhaji,
Chart you are using is Nifty Sopt Chart. We dont trade Nifty Sopt. There is always difference between Spot and Future and you always get different results on both.
As per me today there were only two trades
1. Short on 12:30 @ 4230.55
Exit on 12:50 @ 4212.50
Brokerage -3.00 Profit of 15.05 Pts

2. Short on 13:30 @ 4220.15
Exit on 13:50 @ 4219.00
Brokerage -3.00 Loss of -2.00

Total Profit of 13 Pts. after brokerage.
I will be thankful if some body guide me about same.
SKR

 

[lazytrader]

I have small suggestion on this theory.

I think we should buy or sell on 5EMA crossover to 13EMA.

But we should not square off based on stochastic.

We should wait for two conditions (if anyone get satisfied we may squareoff our position)

Condition 1: If we have sold, then wait for 5EMA to move back over 13EMA and vice versa for buy.

Condition 2 : If we have sold, then wait for Fast Stochastic both line to enter in OB zone (above 75-80) and vice versa for buy.

With this less call will be generated but will give long profit. (as it is happening in today's market)

I will paper trade with these for some more days.

I just wanted to make sure that you are aware of the fact that the Stoch chart you are watch is a Fast Stoch from yahoo for which we don't know the values. Others who have setup charts based on prides system have 8,3,4 Slow Stoch. There is a difference. If you don't want to pay for seperate paid charting then atleast get the one the broker has.