Pride's Intra-Day Strategy [Profit Everyday]

[sashsaha0]

hi metushar
why u exited at 12.20 did the stoch reversed its direction?

 

[TraderInTheZONE]

You should not look at 30 Min Stochastic to judge OB/OS condition!!

 

[metushar]

hi metushar
why u exited at 12.20 did the stoch reversed its direction?

yes.....................

 

[manojkch]

Manoj...i went long but wouldn't have gone short for 30 min in overbought zone, remember ST da's oscillator thing if overbought or more than 5 bars more upmove left so gone long......and have backtested on this basis as well........was out at 12.20 bar close........paper trading.....will begin trading on this after 2-4 weeks of real time paper trading......

But the time when you entered long, 5 min was not in overbought for fulfilling 5 bar setup. Also if we look for 30 min TF, then it was overbought but not 5 bar completed yet.

So neither on 5 min or 30 min any condition was there to go long as per ST Da's 5 bar oscillator theory. Hope I am able to explain what I mean.....

Manoj

 

[sashsaha0]

yes.....................

hi metushar
why u exited at 12.20 did the stoch reversed its direction?

well then my tradetiger is giving wrong data then because at that time my stoch was not doing any reversal

 

[manojkch]

You should not look at 30 Min Stochastic to judge OB/OS condition!!

Why not dear ?

 

[metushar]

But the time when you entered long, 5 min was not in overbought for fulfilling 5 bar setup. Also if we look for 30 min TF, then it was overbought but not 5 bar completed yet.

So neither on 5 min or 30 min any condition was there to go long as per ST Da's 5 bar oscillator theory. Hope I am able to explain what I mean.....

Manoj

yes Manoj.....now looking back it was a wrong trade, the thing is the time i too k the trade even at 11.30 30 min was overbought but yes your are right it had alredy dipped below 80 once 5 bar back thus it was only 4 bars in overbought region. wrong trade. Thanx for correcting, will be more careful in future......

 

[metushar]

gone long at lasst bar close now...at 4491

stop loss 4476

closed at 4511...20 points +

all trades in mini.

today's profit 45 points.
First trade was wrong so 20 points today.

 

[skr]

gone long at lasst bar close now...at 4491

stop loss 4476

closed at 4511...20 points +

all trades in mini.

today's profit 45 points.
First trade was wrong so 20 points today.

I will be thankful to you if you Post your chart showing trades
SKR

 

[skr]

Today throughout the day 30 min Stochastic was overbought.
There was no trade. If you ignore 30min overbought condition then trades are as follows: