SH's 315 Strategy - how to use if effectively

[crusader]

Yesterday was a perfect example of Exiting a position when price NOT touching 3 EMA. Price opened "almost" at 3 EMA, and closed at almost lowest of the day. I exited at close and still waiting to short again today, would do it in June series hence waiting.

Wow.. That takes the keenest eye to notice that the bar was not touching 3EMA yesterday. It was very marginal indeed. Did you short again today as it is touching 3ema?

 

[rkkarnani]

Wow.. That takes the keenest eye to notice that the bar was not touching 3EMA yesterday. It was very marginal indeed. Did you short again today as it is touching 3ema?

No friend, one does not require a keen eye to spot it, I use metastock and for that matter almost any TA software would indicate a touch by changing the colour of the bar or any other visual alert... moreover to be frank, even if it would be 'kissing' the 3 EMA, in view of the Derivative close just a day away and the neeed to rollover and above all with "huge" profit in hand I would surely Exit.
I would like to wait on sidelines and wait to short again, as said in my previous post somewhere, I donot exactly follow the 315 rules but have tweeked them to make them comfy for me. It would be unwise to discuss them here and impede the flow of things and also confuse others. SH has given a great strategy and has really worked soooo well in past more than an year!!! :clapping: All credit to him!!!!

 

[Tradewithhunter]

GM SH,
A Fan of yours,though haven't tried any of your strategies except 100 ema crossover the recent one making me ur fan(2nd or 3rd may). I am in the market since 2 years having lots of negative trade than positive ones b'coz trading without any strategy and plan (just TUKKA Trading). Treating me as a newbee (an ignorant) advice me what should i do/read so that i can trade profitably using ur strategy and understand the basics of market (like trend, sl, open interest etc). Though i read your 315 strategy full but still i feel something missing in basics.
Tried to PM YOU but either it is full or disabled.
Waiting eagerly for YOUR reply.

Hi bhursandip,

For a trend trader, having more loss trades than profitable one's should not be a problem becuase the size of the profits are much larger than the size of the loss.

In 315 too, 50% of trades lose and rest 50% gain....but overall its a proitable strategy.

Fro basics, read 'Come into my trading room' by Dr Alexander Elder.

Cheers
SH

 

[bhurasandip]

Thanks SH,
Going to order the book today itself and will be troubling you if i don't understand anything. Hope u don't mind me distrurbing you.
Thanks Again from bottom of my heart

 

[summasumma]

before rolling over to next month....learn the meaning of financial management folks... here we go....


A beggar found 100 Rs.
He decided to have a great dinner.
He went to a 5 star hotel and enjoyed the dinner for 1,000 Rs.
When bill came he said I have no money.
Manager called police and handed over beggar to him.
The beggar gave 100 Rs to policeman and was set free.:clap:

This is called Financial Management. :rofl: :lol:

 

[summasumma]

Hi SH,

Can you clarify the following things:

(a). Assume that i have entered a LONG position around 3:27 PM today.
Tomorrow when the market opens up, if i see the 3EMA crossing below the 15EMA( in EOD candle of that day ofcourse) around 11 AM, what i should do?.
1. Should i exit immediatly?
2. wait till EOD around 3:27PM again, as the 3EMA might again go above 15EMA by the EOD(this can happen,rite?) and make the decision.
3. i should exit immediatly when 3EMA goes below 15EMA and square off.
Again wait till 3:25PM to see fresh trade? Please Clarify this situation.

(b). For doing 315 for Nifty Future, i should use the 3EMA and 15EMA of "NIFTY FUTURE" Price, rite????? (and not NIFTY SPOT)? Because i have seen in some of your posts that you are referring to 3EMA/15EMA of Nifty Spot itself and still saying buy/sell. so confusing.


I am sorry to bother you with some basic questions as I know you must have answered some of these questions somewhere in the thread. But i request you to kindly clarify the above.

I suggest we can create a new thread for rules alone and some important/interesting questions came across in this thread.
If you want i can provide the list of links in this thread posts which are very useful(including rules).
So any new people can first complete the specific set of links and if they are not stil satisfied can post in this thread.
What do you think of this?

Thanks,
...summasumma

 

[Tradewithhunter]

Hi SH,

Can you clarify the following things:

(a). Assume that i have entered a LONG position around 3:27 PM today.
Tomorrow when the market opens up, if i see the 3EMA crossing below the 15EMA( in EOD candle of that day ofcourse) around 11 AM, what i should do?.
1. Should i exit immediatly?
2. wait till EOD around 3:27PM again, as the 3EMA might again go above 15EMA by the EOD(this can happen,rite?) and make the decision.
3. i should exit immediatly when 3EMA goes below 15EMA and square off.
Again wait till 3:25PM to see fresh trade? Please Clarify this situation.

(b). For doing 315 for Nifty Future, i should use the 3EMA and 15EMA of "NIFTY FUTURE" Price, rite????? (and not NIFTY SPOT)? Because i have seen in some of your posts that you are referring to 3EMA/15EMA of Nifty Spot itself and still saying buy/sell. so confusing.


I am sorry to bother you with some basic questions as I know you must have answered some of these questions somewhere in the thread. But i request you to kindly clarify the above.

I suggest we can create a new thread for rules alone and some important/interesting questions came across in this thread.
If you want i can provide the list of links in this thread posts which are very useful(including rules).
So any new people can first complete the specific set of links and if they are not stil satisfied can post in this thread.
What do you think of this?

Thanks,
...summasumma

Hi SummaSumma - indeed basic questions which have been answered in the first post itself. The positions are reversed only in the last few minutes of EOD to ensure that the crossover is complete. It might mean we get a short at the bottom of the day ..but its ok.

I always refer to Nifty futures, I dont think I have ever mentioned or advocated the use of Nifty spot data.

More than happy for you to start a separate thread and post links to important posts there. I think its a very good idea :thumb:

Cheers
SH

 

[supremeinfo]

Hi SH sir
waiting for your reply . Your reply would give me the confidence to trade NF futures . Thanks from the bottom of my heart for starting this wonderful thread

 

[trade4joisar]

Today's 15 ema @ 5470 (15 ema seems turn around)
High made 5461
CMP 5455

Should we go for add shorts ? I am not sure

SH,
Please confirm.

 

[rh6996]

Today's 15 ema @ 5470 (15 ema seems turn around)
High made 5461
CMP 5455

Should we go for add shorts ? I am not sure

SH,
Please confirm.

Add should be around 5475.. approx value of 15 EMA in my RT chart for EOD value!! People who are out, many exit on deriv close can reenter at 15 ema or even now!!