SH's 315 Strategy - how to use if effectively

[VJAY]

Try with 15 min chart... it works quite well in intraday...

Dear dil,
In which scrips you tryed it?though SH adviced as this method no use in intraday......

 

[vikas2659]

Dear SH sir,
Started going thru all ur post from d begining along with chart...i hv come across 1 trade where u have nt done stop loss at ur entry level.
Trade initated 24/7/09 Nifty + @ 4548(its a re-entry). Now as per ur money management rule ur SL is 4548...On 29/7/09- Nifty breached dat level bt u were still long..( i cud nt understand....pl help)...charts attached..

Further:
1. Since u re-entered this trade durin the day let suppose arund 1 pm...then wat wud have been ur SL for the day?
2. If ur intra SL had nt been hit on 24/7/09 (date of re-entry)..& next day mkt opens gap dn say arund 4520-25...how wud u have manged d trade??
Sir, pl do throw light on these 2 hypthetical probs bcoz in real life..these things v shall b facing & we need ur help to understand & to develop our trading stgy under dis set up with ur kind help...

thanx...
Vikas

 

[Tradewithhunter]

Dear Sir,
Read ur posts & strategy..I m attaching herewith chart with period 16feb to 26 feb in box..thats very tricky period..Many persons asked u questions on this patch..bt i dont find ur answer to them (gone thru all ur posts in feb)..
So, i m again placing d things for u to guide us STEP BY STEP for this patch only..
1.Suppose i m short on Nifty & i added d short position on 16feb(bcoz 15ema touched) & on 17 feb nifty opens gap up..wat shud we have done at opening..
(a) square off d short position at opening & WAIT TILL 3.25 PM TO ENTER FRESH POSITION.( mind it candle is away from 3ema)
OR

(b) Wait till 3.35pm to confirm crossover to square off & reverse the position ( bt this candle was away from 3ema--any special measure to b taken or wat ??? Nt clear)

2. or just squared d post on 17feb ..shud nt buy it because its a way above candle ..let d price retrace bak to 3ma on 18th to get in??/

3. On 22nd gain same situation but in reverse diration for our position (opening is away from 3ema) & again on 23rd same set of conditions disturbing our set up....pl guide us once on this rough patch...hoping for reply.

MAIN PT IS ---ENTRY & EXIT CONDITIONS ARE COINCIDING...
Thanx..
Vikas

Dear Vikas - on 17th Feb, you wait until 3.25PM for a confirmation of crossover, close shorts and open longs as per 315 rules. Do not apply 3 EMA rule here as 3 EMA rule is only for Exit and re-entry.

Hope this clarifies.

Cheers
SH

 

[vikas2659]

Thanx sir..for replying my first query..pl also try to reply my 2nd query ( Post no :1161 ).

 

[Tradewithhunter]

Dear SH sir,
Started going thru all ur post from d begining along with chart...i hv come across 1 trade where u have nt done stop loss at ur entry level.
Trade initated 24/7/09 Nifty + @ 4548(its a re-entry). Now as per ur money management rule ur SL is 4548...On 29/7/09- Nifty breached dat level bt u were still long..( i cud nt understand....pl help)...charts attached..

Further:
1. Since u re-entered this trade durin the day let suppose arund 1 pm...then wat wud have been ur SL for the day?
2. If ur intra SL had nt been hit on 24/7/09 (date of re-entry)..& next day mkt opens gap dn say arund 4520-25...how wud u have manged d trade??
Sir, pl do throw light on these 2 hypthetical probs bcoz in real life..these things v shall b facing & we need ur help to understand & to develop our trading stgy under dis set up with ur kind help...

thanx...
Vikas

Dear Vikas - The SL is the 'original' entry level for a conservative trader ....not the re-entry level. So check out the original entry in this bullish trade which was 4381 on 17/07/2009. That is the SL for this swing trade which was not hit until 12/08/2009 ..this was after making a high of 4730 in the current swing and giving several exits and re-entries in the process.

Even when breakeven SL was hit on 12/08/2009, I would expect a trader to have made profits through exits and re-entries. So for a conservative trader it was a no risk good reward trade.

A normal trader would have stayed in the swing trade until a reverse crossover happens.

Cheers
SH

 

[iTrade]

Good Afternoon
Does anyone trade 315 using use Sharekhan trade tiger for FUTURES stocks and NIFTY? The future charts do not appear to be proper on EOD timeframe... please can anyone confirm? Which other software other than icharts.in should be tried for this?

 

[nick721156]

Try with 15 min chart... it works quite well in intraday...

Dear Dil,

How is the success rate (in %) in intraday?

On a good trending day, it may work well. But how do you tackle on a range bound day? Because nobody would like to have 3 / 4 whipsaws in a day. Secondly, do you carry forward or close your trade at the end of day ? How do make entry or exit on a particular day when there is no crossover? Do you use the system as it is or have you incorporated any modification in the system?

Waiting to hear from you.

Regards,

Raju

 

[vikas2659]

Thanx a lot sir for clearing all my queries..
Vikas.

 

[iTrade]

Hello SH... I had one question.
I see that for CAIRN India (cash market), I see a bearish crossover taking place, but the candle is not touching 15 EMA. Should i wait to go short until candle touches 15 EMA? Infact, the question should be that for an entry (maybe long or short), is it necessary that candle touches 15 EMA?

 

[vinst]

Hello SH... I had one question.
I see that for CAIRN India (cash market), I see a bearish crossover taking place, but the candle is not touching 15 EMA. Should i wait to go short until candle touches 15 EMA? Infact, the question should be that for an entry (maybe long or short), is it necessary that candle touches 15 EMA?

Not necessary.
SH can confirm if not done already.

vin