SH's 315 Strategy - how to use if effectively

[msa5678]

In my charts of RT converted to EOD the crossover is there and I took position in Options! Quiet possible the EOD charts are yet to show a Crossover or maybe its not there in Spot Nifty charts which you are using for your trades.

Hi rkkarnani,


Actually I was also going to take a position
in Options alongwith you, but after reading
your post in which u said that u will take
position only if NF closes below 5790, I
opted out. Anyway if tmrw morning if I get
a chance to enter 5800PE near 120 I will
take it.

Now that u have taken position in options,
I think you will now open a short position
in Futures. What will be the condition for
entering the short position.

With Regards,

 

[rkkarnani]

Hi rkkarnani,


Actually I was also going to take a position
in Options alongwith you, but after reading
your post in which u said that u will take
position only if NF closes below 5790, I
opted out. Anyway if tmrw morning if I get
a chance to enter 5800PE near 120 I will
take it.

Now that u have taken position in options,
I think you will now open a short position
in Futures. What will be the condition for
entering the short position.

With Regards,

Unless NF gaps down you should get a Put a bit cheaper.

I will enter short when yesterdays Low less filter is broken. Todays opening low also must be taken into account.

 

[msa5678]

Unless NF gaps down you should get a Put a bit cheaper.

I will enter short when yesterdays Low less filter is broken. Todays opening low also must be taken into account.

Hi rkkarnani,

I got 5800PE around 112. But couldn't take
NF short position as I was away from the
terminal. Your strategy is great , already you
got 30 points from 5800PE alone. Don't know
what is your NF short entry.

 

[crusader]

I too got 5800PE @ 115. Couldn't take NF short position earlier. Very good strategy I would say when there is lot of confusion as on a derivative closing day and when the cross over is not by much difference.
msa, are'nt you taking NF position today?

 

[msa5678]

I too got 5800PE @ 115. Couldn't take NF short position earlier. Very good strategy I would say when there is lot of confusion as on a derivative closing day and when the cross over is not by much difference.
msa, are'nt you taking NF position today?

Hi Crusader,

rkkarnani had advised NF short entry
around the break of yesterday's low,
which comes to around 5780 (Spot),
I missed the chance when Nifty was
around those levels, It is not advisable
to enter now 5710 (Spot).

Another chance will always come, let's
be alert at the next crossover.

 

[rkkarnani]

Hi rkkarnani,

I got 5800PE around 112. But couldn't take
NF short position as I was away from the
terminal. Your strategy is great , already you
got 30 points from 5800PE alone. Don't know
what is your NF short entry.

MSA, Frankly would not like to discuss my strategy here as it might confuse the Original strategy of the Thread : EMA 315

I usually change the RT chart to smaller TF and do intraday trading in the direction of the trade in which I have to take a trade , in this instance SHORT!
I actually went short below 5800, actual level was 5811 but to be sure went short below 5800 (i will post the chart later) as I got a Sell in 5 minutes TF and most importantly, my SL was just above 5823. Now this can be a tricky situation, as market might not have breached yesterdays low, that would result in some intraday loss. But I have been saved from a few whips due to this strategy. And for my mental make up I prefer some intraday losses which are to some extent within my control rather than seeing the market Open against my position, this helps me maintain my discipline.

I would not advocate others to follow this as it would be half baked for them. I write here because of two PM's I got asking for some details.

 

[kcsusha]

Sir,

Today, 3ema has crossed 15ema from above. Can we initiate

short position on Monday?

 

[rkkarnani]

Sir,

Today, 3ema has crossed 15ema from above. Can we initiate

short position on Monday?

The crossover occurrred yesterday, and today it went further down. People following this strategy as advised by SH went short yesterday in May futures at ~3:25 PM(NF of May was around 5812).
As it was a touch and go with added matter of derivative close , a few people like me, tweaked the entry rule and entered in Options yesterday and converted to Futures today!! Please do elaborate why do you consider that the crossover happened today, maybe either we correct ourselves or correct you.

 

[Tradewithhunter]

315 shorts triggered on 28/4 sold at 5815 (May series since 28th was expiry day).

2 whipsaws in a row now... rangebound mkts again. All important EMAs are currently confluencing (200 SMA, 100 SMA, 34 EMA, 15 EMA) in this 5700 zone and this is exactly where Nifty is trading right now. This is a sign of momentary congestion, a state of equilibrium which is often followed by a strong one way trend.

Have seen such confluence only once in 4 years ... it was in June 2010 at around 5100 range. It was followed by a strong breakout and 1200 point rally to 6200+ range. Lets see what we get this time....

Right now ... holding shorts with normal quantity.


Cheers
SH

 

[InvestoMania]

100 Points Profit in 3 Days
good dear ...

Best Regards,
http://www.traderji.com/futures/53550-my-trading-strategies-future.html
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The best trading method is to take advantage of the crowd's greed and fear.
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