SH's 315 Strategy - how to use if effectively

[rkkarnani]

I am attaching IDFC chart and showing fresh buys-long (green) and sell-short (red). No profit-booking and re-entry is shown.

regards,
vin

Hi Vinst,Do you think IDFC is a good candidate for 315 trading!!?? Have you back tested IDFC for 315?If yes can you please post your result and your views. I was following it since November 2009 in RT and thought it to be a bit more "patience" tester than usual.
Do share your expirience.
Regards.

 

[SwingKing]

Raunakji

We are into results season & one or two above expectation results in heavyweights will swing the tide again. If technical indicators can turn from highly bullish to highly bearish in matter of 2 to 3 trading days, it can happen other way round too in double quick time. Technical indicators are result of market action & not otherway round.

Cheers !!!!

Alok Tewari

Alok am speaking from a intermarket analysis point of view where one needs to combine various macro and micro economic indicators.. I did not mention any technical indicator dear. They are of very little use. I have been bearish ever since markets were at 5400. And that was mainly due to some macro economic data all over the globe.



Tc

 

[saivenkat]

The question you have to ask yourself is " Will you see 5260 again in a couple of days " ? If not, then you might well see 5260 when the "Environment" for shorting indeed passes by. Technical reversal signals have occurred insync this time all over the world. Such signals are very strong and usually market's don't retrace the levels you have written in this scenario (atleast in a couple of days).

Tc.

Dear Raunak, Normally when the market takes a heavy beating for more than couple of days, we could in all possibilities see a dead cat bounce. with this in my mind, i told that i will enter at 5260 levels

Our market has already corrected from 5380 to 5180 levels for last 5days, and also, the market has found some support around 5170 levels for today..and if it manages to close around 5210 5220 levels, may be tomorrow we could see nifty up around 0.5% in green at least for some time, and i feel that in the process we could be touching those 5260.. See how many calculations in me..:lol:.

If these things prove to be -ve, i will enter again at 3 Ema touching 15 ema only..

Thanks and regards
Saivenkat.

 

[vinst]

Hi Vinst,Do you think IDFC is a good candidate for 315 trading!!?? Have you back tested IDFC for 315?If yes can you please post your result and your views. I was following it since November 2009 in RT and thought it to be a bit more "patience" tester than usual.
Do share your expirience.
Regards.

hi RKkarnani,

IDFC historical test shows it to be a good candidate for 3-15. However, scrips change their colours every few months and the trading systems need to 'sleep' till good time comes for that system or trading system needs to adapt.

regards,
vin

 

[saivenkat]

Dear Saivenkat - I will re-enter on 3 EMA touch .... since 3 EMA keeps moving, its tough to state a level.. but I will short at 5230-5240 levels if at all those levels come.

Otherwise 3 EMA will come down and I will enter shorts at whatever levels markets are at when that happens.

Cheers
SH

Thanks SH sir, for clarifying me... As said by you,.. i will reenter shorts only 3ema coming down.. What prompted me to ask you, about 5260 levels, was that i had a little guess work running in my mind.. that which i have explained in post number 1102, while answering to Raunak bhai..and nothing other that sir.


Regards
Saivenkat:thumb:

 

[trade man]

Hi All,

Not an active memeber here but i keep reading this thread. Quite a workable and profit making set up. Its not possible to have it 100% in one's favour.
I have been using it as one of my trade set ups and it does give good results but I dont use it on stand alone basis i use it with some other indicators like rsi or sts along with divergence & pivot points.

Regds,
be the prey or the predator choice is your(s).:gun2:

dear sherbaz wil u inform what else set up u use along with sh 315. so that new commer like me can have maximum advantge.

 

[arti]

With such a huge gap up or gapdown,Can we trade it with options?
I mean as per this strategy we exited at 5190-5200.Now candle is well below 3ema.Can we use some option strategy in such gaps?SH,usually what u do?

 

[Tradewithhunter]

With such a huge gap up or gapdown,Can we trade it with options?
I mean as per this strategy we exited at 5190-5200.Now candle is well below 3ema.Can we use some option strategy in such gaps?SH,usually what u do?

Arti - I sit aside and wait for 3 EMA touch to enter futures position again.

I am not much of a option buyer , but i like to sell options. The candle touching 3 EMA doesn't warrant any option strategy in my view.

However, one can trade 315 signals with option strategies as well. I will write about them ato some point later.

Cheers
SH

 

[prabit]

Hi Vinst,Do you think IDFC is a good candidate for 315 trading!!?? Have you back tested IDFC for 315?If yes can you please post your result and your views. I was following it since November 2009 in RT and thought it to be a bit more "patience" tester than usual.
Do share your expirience.
Regards.

I was holding Idfc for quite sometime. It is not a good share for trading. It was stagnant for long time.For trading volatile or trending shares are good.

 

[prabit]

Dear Raunak, Normally when the market takes a heavy beating for more than couple of days, we could in all possibilities see a dead cat bounce. with this in my mind, i told that i will enter at 5260 levels

Our market has already corrected from 5380 to 5180 levels for last 5days, and also, the market has found some support around 5170 levels for today..and if it manages to close around 5210 5220 levels, may be tomorrow we could see nifty up around 0.5% in green at least for some time, and i feel that in the process we could be touching those 5260.. See how many calculations in me..:lol:.

If these things prove to be -ve, i will enter again at 3 Ema touching 15 ema only..

Thanks and regards
Saivenkat.

dear raunak and sai, both of you are right. In fact anything can happen in the market. We can expect the unexpected. It can be said that market has already discounted the results.I think traders should ignore fundamentals.Fundamentals create noises.Trading should be absolutely mechanical. Go along with the chart and follow the direction of least resistence.