Pride's Intra-Day Strategy [Profit Everyday]

[veluri1967]

Hello Pride,

Today I have traded Unitech Intraday using your strategy.
I made Rs.1,000/-. Thanks a lot for that.

What I observed is that the accurate signal came at about 2:30 pm when I was actually waiting for the signal since morning.
A lot of patience is required. Of course, if we want to be on the right side of market, we have to be disciplined enough and should act only on signals.
No signals means donot trade.

Am I correct?

 

[linuxguy]

What I observed is that the accurate signal came at about 2:30 pm

On my investbulls chart, it shows that 30 min stoch was bearish since 2.00 pm till the end, and at 2.30 pm the 5 min stoch gave a bullish crossover.
On 5 min, the 5 and 13 emas were far apart. Would you please post the charts of your trade?

Thank you.

 

[linuxguy]

Hi Pride and Friends,

This is my first post in Traderji and my way of giving back to the community of the kinds of Pride, Dhiraj and Sunil and many many more, from whom I have learned a lot.

I feel that there is a better way for exiting the stock,

Using Commodity Channel Index - 20 period Crossovers.
Pride using your theory and this addition, there can be a fool proof trade.

For entry we can also use CCI crossovers of 0 (entry for buy when CCI line crosses up, and entry for sell when CCI line crosses down). De not enter if Stochastic (Prides 8,3,4 - 5 min) is in overbought or descending after overbought condition (for buy) and oversold or ascending after oversold condition (for sell), otherwise entries can be made safely.

Do not exit at Stoch crossovers but when CCI line has just completely crossed the CCI channel of 100 from above (for selling a buy) and from -100 from below (for covering a short).

Any opinions welcome .
btw, I follow bazaartrend.com for the CCI and other technicals in realtime. They cover all equities and futures.

Thanks,
Shesh

Thank you for sharing your strategy.

I have a few doubts here. Hope you would clarify.

1) You havent said anything about 30 min stoch. Do we ignore 30 min TF completely?

2)I tried CCI setting in investbulls. The default setting was 14, I made it 20.
It gives me scale of 50, 0, -50, -100, -150, -200, -250.
I ddint get the +100 range, may be because the value at which the indicator is since past couple of days.

3)CCI crossed the 0 line at 2.30 PM on 15 DEC, and since then it is around -100 level.

Please check if my observation is correct.

Thank you.

 

[spynkz]

Hi linuxguy,

1. The 30 min stoch charts is very important, as it identifies the trend far ahead of the others. The trades go with the long term trend, and the trend is our friend. I use them for screening my 5-6 stocks that have a bullish stoch.

I like to use CCI-20, and the 5-min stoch chart as I find it inconvenient to shift from a 5-min chart to 30-min chart since I do not trade in a single entity like Nifty Future, but I trade in multiple equities.


2. In bazaartrend as well as in investbulls we see two dark horizontal lines, which by default are 100 and -100. You have nothing to do with the line hovering around 100 and -100. e.g for a buy, for my sell signal, if it has gone above 100 to whatever, and crossed back below 100, even a fraction, I cover my position, what the line does after that I do not care !.
However, if Stoch cross over takes place and the CCI line has still not crossed the channel (i.e it is within range of 100 and -100) EXIT is a must at stoch cross-over.

Yesterday 18th Dec, Fri, and on 14th Dec, Mon, as well there was a sharp fall in Nifty. During these periods Nifty futures give a signal which is late. I Personally prefer to trade Nifty futures with Nifty spot charts (for Prides method.). Futures on an intra-day level are pure derivatives, are slower and have nothing to do do with the future, as an investment perspective . If you traded Nifty by shorting at 1:55pm and covering at 2:55pm, you would have made a killing. I do not trade in futures yet, so my opinion is not tested well.
If we caught the wrong end of the stick by chance, we do cover immediately, the risks are still limited, as we trade in the direction of the market.

About your question on 15th Dec, you just cover at the end of the market, if you do not intend to carry over the day-trade to delivery.

Also, I would not like to use this strategy with illiquid stocks or stocks trading less than 500k daily (I personally prefer > 1M .
I do not recommend opening new positions after 2:45pm (as trends are influenced by square-offs).
I am also not sure about placing orders to catch the early morning trade. I like to place my orders after 10.30 am


Hope this helps.

 

[linuxguy]

Do you wait for the 30 min candle's completion as per Pride's strategy?
And its only Stoch and CCI, no 5 and 13 emas?

Thank you.

 

[spynkz]

Hi linuxguy,

If the CCI-20 0 line cross over is proper, the confirmation for BUY is seen with the 5-13 ema crossover and the last bar closing above both the ema's. I place my stop loss at the low of this bar. Only then I enter the trade.

The CCI CANNOT replace and is not intended to replace Pride's strategy.

CCI indicates momentum, and sharp crossovers above and below +-100 indicate larger price movements, so I did not want to ignore it.

I do not use wait for any candle completion on 30 min charts, I just use it for gauging trend i.e. for BUY - fast line bullish cross-over above the slow line.

Two major improvements I feel are:

CCI 0 line crossovers when stock is already overbought and oversold in 5-min stoch can keep me away from low probability trades at 5-13 ema crossovers.

When CCI is far above 100 or far below 100, we can allow the stock to run for further gains.

Hope this helps.

 

[rajputz]

which trading terminal are you using "pride"....actually i am using ventura and the problem with ventura is that they dont have historic data....the charts that form are formed for the current day rather then starting from the day it left.

So when i open my charts in ventura or kotak securities, the charts are actually forming for the same intraday only.

 

[Mangafreakz]

@Rajputz
Pride used to use Investbulls RT service for his charting.

 

[shyamalways]

which trading terminal are you using "pride"....actually i am using ventura and the problem with ventura is that they dont have historic data....the charts that form are formed for the current day rather then starting from the day it left.

So when i open my charts in ventura or kotak securities, the charts are actually forming for the same intraday only.

dear rajputz

the historic data u r trying to find out in trading terminal in tick or minute format is called back fill data and no broker in india provides such facility , in all major terminal u will find only daily charts with same day data and if u want to see historical charts sharekhan trade tiger and indiainfole TT advance provides such format it consists of daily eod data and available in daily , weekly montly quartely an yearly formats , additionally in tt advance there is a feature , that the u can see last 3 days chart in tick format separately but unfortunately today's chart will open in a new window with today data only.
the back for data backfill facility u need to use charting softwares and paid data services , such as amibroker , metastock ,with different data vendors.

these backfil data may help u but in case of gap open indicator signals are worthless and wrong .:clap:

 

[Rkji]

Thank You

Pride, AnkitGarg