SH's 315 Strategy - how to use if effectively

[observer]

SH, 3ema is at 5211.70, how did you arrive at 5200-5205?

 

[Tradewithhunter]

SH, 3ema is at 5211.70, how did you arrive at 5200-5205?

Observer - It was at 5205 when NF was at 5225 ... it got pulled up to 5211.70 by the day end as NF kept rising and closed at 5239.80.

This also meant that 3 EMA was able to touch the candle's lows yesterday (which is even more frustrating since I could not enter in longs at all). :annoyed:

And now with NF at 5280 .. 3 EMA is at 5244 so again I will have to wait.

Cheers
SH

 

[chander_rb]

Dear TJ friends and traders,

I have written about 315 strategy at different places in the past and I started writing this thread in July 09 here. In the last 6 months I have spent a lot of time here trying to explain, demonstrate, fine tune and at the same time learn more about this strategy myself with you all.

I started posting live trades here as per 315 since November since I firmly believe any theory not backed up by practical demonstration is like saying we have a billion stars without any ways to prove it. I believe,largely, people enjoyed this live trading with me. I wanted to stop mid way somewhere but people urged me to continue it and I agreed.

Today as the year ends, I believe I have been successful to build some good understanding of this strategy amongst the traders here. In the process of doing this, I made some good friends here and also earned some critics. I thank everyone here for whatever time they have spent on this thread for I have learned with each answer I gave out to queries.

I also apologise to my critics for showing my human side and probably hurting them back while they hurled their accusations at me.

Like all good things have to end somewhere, I believe this is the end of my posting live trades here from hereon. I will still be around to answer any genuine queries.

Best of luck with your trading and have a blast in 2010.

Cheers
SH :thumb:

Dear Tradewithhunter,

Due to my professional commitments, I am able to visit Traderjee site only off and on. However, one of the threads I have enjoyed reading is your this thread.

What is remarkable is not just your strategy (which unfortunately I am yet to try out as I get time trade only once in a while) but the patience and understanding shown by you in replying the deluge of queries and questions, many of them repetitive.

Kudos to you !

Many thanks & wishing all luck with your future ventures. :thumb:

chander_rb

 

[Tradewithhunter]

Observer - It was at 5205 when NF was at 5225 ... it got pulled up to 5211.70 by the day end as NF kept rising and closed at 5239.80.

This also meant that 3 EMA was able to touch the candle's lows yesterday (which is even more frustrating since I could not enter in longs at all). :annoyed:

And now with NF at 5280 .. 3 EMA is at 5244 so again I will have to wait.

Cheers
SH

Small gap up again today which means 3 EMA still not touching the candle. I am still waiting for entering into longs.

Cheers
SH

 

[observer]

SH, how do we re-enter when the 3ema is gyrating, especially when the price moves up after gap up? The 3ema could be touching the candle because of steep up move but the candle could be away from 3ema after some time, if the price starts correcting.

 

[Tradewithhunter]

SH, how do we re-enter when the 3ema is gyrating, especially when the price moves up after gap up? The 3ema could be touching the candle because of steep up move but the candle could be away from 3ema after some time, if the price starts correcting.

I would wait until markets have actually corrected enough to go below 3 EMA before entering.... an entry at a mere touch at the bottom of the candle can mean correction is still pending.

Cheers
SH

 

[feelbullish]

Now that the mkt timings have increased to approx 6 hours......will it be viable to make our exp averages as 3 and 18(3x6) and not 3 and 15(3x5) as earlier.

Awaitng reply from all you experts there....Thanks in advance and Happy Trading to all of you.......

 

[VJAY]

Dear Vjay - I have answered these questions several times in the past. I know the answers are lost in so many pages now. I will again answer these for you.

1. Enter it immediately. If cant enter today, enter tomorrow morning.

2. ADD at touching the 15 EMA if your original positions is already in good profits OR if you are a high risk high returns aggressive trader. If original position not in good profit, dont ADD (what is good? I would say 100-150 Nifty points).

3. 3 EMA rule is simple... re-enter when you see 3 EMA touch. However you will see that as Nifty falls 3 EMA will also fall. so you can sometimes not wait until a 3 EMA kiss but enter 10-15 points higher than 3 EMA (this is becuase if NIfty reverses from that point and goes up you will find 3 EMA is pulled up and it kisses the candle at your entry point).

Cheers
SH

Dear SH,
Thanks for the replay.....am came to late to this thread.....so missed the live action.....

 

[Tradewithhunter]

I would wait until markets have actually corrected enough to go below 3 EMA before entering.... an entry at a mere touch at the bottom of the candle can mean correction is still pending.

Cheers
SH

Finally entered in longs now at 3 EMA touch ... at 5263.

Cheers
SH

 

[forestflower]

Another option would be to sell the 5300 call[jan}.It will provide cushion iif nifty Dips towards 3EMA or slides further down.If nifty surges today or on monday, gains on our side,if it opens flat on monday time value erosion in jan call on our side.But would need to switch to jan nifty

Dear SH,
I made that move on 31-12-09. The switch cost me 12 points. But even as of yesterday when the nifty was at 5190 the 5300 call was at 95 [the call was sold at 85 on 31-12-09] . If nifty breaks the 5300 barrier we could exit the 5300 call at about 100. Cann't thls be generally adopted when price is not touching the 3 EMA instead of exiting our positions.

Thanks