Pride's Intra-Day Strategy [Profit Everyday]

[ag_fx]

since 29th june, I've traded on just three days; thursday, friday and today...so I dont know what happened back then...i'll see if i can get some time to take a look at this...

for the time being, lets just assume that no system is correct all of the time...and we are bound to get losing streaks as well...

i would advise you to use this scalping system just as an add-on to your regular trading...

Aptly said Pride...also, do u have results of live trades from jan 09? I kinda backtested it and there were almost all loss days...quite a big drawdown close to 15-20% for da month as drawdown

 

[skr]

dear skr, your entries are completely wrong. we enter only on ema crossovers...please read the first post of this thread to understand how to initiate the trade.

Hello Pride,
Welcome back. You are right, I have ignored crossover of ma. I have only seen that 5-EMA is above 13-EMA during long trade.

Don't you think during strong trending move (17-Jul & 20-Jul) we won't get ma crossover & we may miss good trades?

I will be thankful to you if you post daily trades, along with charts, from which we can learn lots.

Thanks,

 

[ag_fx]

for me, there was just one trade today...short around 4477 @ 12:05 and covered around 4443 at 12:45.

Pride, I couldnt quite understand this. There is some mistake.

Here is what I observe on 30 min stochs:

955-1000 : Bearish
1000-1030:Bearish
1030-1100: Bearish
1100-1130:Bearish
1130-1200: Bearish(it is at the close of 1200 bar the stoch turned bullish)
1200-1230:Bullish
1230-1300:Bearish(at close of 1230, stoch turned bearish)
1300-1330: Bearish
1330-1400:Bearish
1400-1430:Bullish(At clsoe of 1400 we became bullish).
1430-1500:Bullish
1500-1530: Bullish

So according to this, 1205 waas not a Short zone. How come u shorted there?

According to my understanding, there was only a breakeven trade as displayed below.

Waiting for ur view Pride.

 

[skr]

hi guys...

for me, there was just one trade today...short around 4477 @ 12:05 and covered around 4443 at 12:45.
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Hello Pride,
I will be thankful to you if you post chart along with your trade.
Thanks

 

[metushar]

hi guys...

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ps. @metushar, i dont understand how you took the last trade that you have mentioned. there was no ema crossover.

Pride, that was an aggressive trade, touch and go kind. didnt turn out well stops hitted....

Also, today in the morning there was an aggressive long trade at the close of first bar and exit at 10.35 close.

 

[Sunil]

as at close of yesterday:
30min stochs had crossed +vely
5min stochs were already +ve
5min EMAa will make +ve crossover with this gap up open

so a long trade may be signalled by end of 10am bar
only thing to be noted is the level at which 5min stochs will each after such gap up open

 

[TraderInTheZONE]

as at close of yesterday:
30min stochs had crossed +vely
5min stochs were already +ve
5min EMAa will make +ve crossover with this gap up open

so a long trade may be signalled by end of 10am bar
only thing to be noted is the level at which 5min stochs will each after such gap up open

Thanks Sunil ! You are an awesome observer and trader !!

 

[komalpradhan]

Dear Friends,
No mechanical trading system can replace human judgment. If you have the so called holy grail perfect trading system, then a computer can trade for us. Pride has given us a wonderful system. But it can alone never give perfect trades always.
Apply your knowledge of crowd psychology (in other word called as technical analysis), judgment, knowledge, experience which you have been inculcated after long experience. Sound money management and discipline are the key to the success. Day trading is for professional, arm chair traders should avoid it.
A lot of friends who are posting regularly in this thread are paper traders. I can assure you, they are not the winners in trading in real life. A paper trader is always successful. Because the key to success viz. the fear, greed, discipline and money management which are much more vital that technical analysis are not required in paper trading.
If one can achieve 10 points of Nifty future daily and reinvest the profit in trading, after 20 years ,he can easily there at top in Forbes List. Just go to excel sheet and see it. So no Gujurals, Boses, Vijays,Mohanis etc. are not making money. If they are successful, why they are begging 2000-3000 months for trading tips in your mobile.
So, keep learning, polish the skill and develop your own system and keeps on changing according to the market conditions, have patience and discipline.then yours is the earth and everything in it
Once again I thank pride for giving one of the best system to the traders like us and Mr. Ankit for his research on the system..
Happy trading..........

 

[ag_fx]

Dear Friends,
No mechanical trading system can replace human judgment. If you have the so called holy grail perfect trading system, then a computer can trade for us. Pride has given us a wonderful system. But it can alone never give perfect trades always.
Apply your knowledge of crowd psychology (in other word called as technical analysis), judgment, knowledge, experience which you have been inculcated after long experience. Sound money management and discipline are the key to the success. Day trading is for professional, arm chair traders should avoid it.
A lot of friends who are posting regularly in this thread are paper traders. I can assure you, they are not the winners in trading in real life. A paper trader is always successful. Because the key to success viz. the fear, greed, discipline and money management which are much more vital that technical analysis are not required in paper trading.
If one can achieve 10 points of Nifty future daily and reinvest the profit in trading, after 20 years ,he can easily there at top in Forbes List. Just go to excel sheet and see it. So no Gujurals, Boses, Vijays,Mohanis etc. are not making money. If they are successful, why they are begging 2000-3000 months for trading tips in your mobile.
So, keep learning, polish the skill and develop your own system and keeps on changing according to the market conditions, have patience and discipline.then yours is the earth and everything in it
Once again I thank pride for giving one of the best system to the traders like us and Mr. Ankit for his research on the system..
Happy trading..........

From a post you can make out whether the other guy is a Live Trader or not...Thanks Komal for the post....
Btw, did you backtest/traded this method? How was the exp?Any points to share?

You see using price action with this method is really difficult...As, at times, the trades are triggerred in middle of nowhere...No pivots/TL s help at that time...
You can call it my bad luck or nything..when I paper traded the method, it worked fine...wen i swtchd to live trades, it went bust...and now again it is showing some good trades...
Anyways, do share your insights...

Happy Trading

 

[shaikhfmumbai]

Hi Pride,

I am new to this forum and so for trading. Could you please help me in setting parameters for stochastic ?You have mentioned 8,3,4 but i am unable to understand which is for Fast, slow and moving average.

Kindly respond.

Thanks