SH's 315 Strategy - how to use if effectively

[lvgandhi]

NF gapped down with 3 EMA around 4800 ... I decided against booking shorts since difference was around 50 points only (also IB break)

continue to hold shorts

Cheers
SH

Dear SH,
Do you have any fixed value like 50 or % of NF or any other criteria to decide to book profits when 3EMA not touching.

 

[kaly422000]

candle on 18th nov and 22th didnt touch but no reversal seen

 

[blackberry]

candle on 18th nov and 22th didnt touch but no reversal seen

Market is supreme.sometimes it defies all conditions.So be calm, don't become greedy or left out feeling.

 

[rahulr]

candle on 18th nov and 22th didnt touch but no reversal seen

I don't think candle no toucning 3 EMA notifies reversal. It means you need to book profits and wait for correction. You need to reenter again when candle touches 3 EMA again. On 21st the candle touched 3 EMA just by a hint which was actually reenter and sell again.

 

[kaly422000]

I don't think candle no toucning 3 EMA notifies reversal. It means you need to book profits and wait for correction. You need to reenter again when candle touches 3 EMA again. On 21st the candle touched 3 EMA just by a hint which was actually reenter and sell again.

any way as per my observation the 18 th nov candle of nf1 sud suggest a slight u turn, but may be the gap of 3 ema line and high of the candle was not enough. it was based on observation only.

 

[VJAY]

NF gapped down with 3 EMA around 4800 ... I decided against booking shorts since difference was around 50 points only (also IB break)

continue to hold shorts

Cheers
SH

Dear SH,
Please explain/your rule for this EMA not touch exit ...IMO many newbies and guys like me still in problem in exits in ema not touch.....many times market open I unable to take decission hold/exit when see 3 ema not touch.....so it need some concrete rule to go mechanical in it
So if you share how you tackle/trade when in open you see 3 eam not touch ....

 

[Tradewithhunter]

But I thought and read in the forum that the profit to be booked if Nifty opens below 50 points. Anyways turned out to be good for you. Did you book at 4636?

Yes thats the rule. I decided to hold on as an exception this time. I have not booked shorts yet.

Cheers
SH

 

[NTrader42]

Yes thats the rule. I decided to hold on as an exception this time. I have not booked shorts yet.

Cheers
SH

Hello

I feel if the traders trading this system focus on 'why' of the 3ema touch rule then most of the confusion regarding its use will be resolved.

Why does the system book profit and reenter on 3ema touch?

The idea is the price is far away from 3ema and at its extreme range and will re-trace back to 3ema. Now the trader has to always get back his position on the side of the trend. The 3ema touch is a aid /or tool that is used in helping us benefit from this excursion of the price to extreme.

The rule is made for the system because on average these are profitable, but they may not work 100% of the times, we are traders trading the probability.

If we trade this touch with understanding why we are doing it and not just focusing on the technicalities it becomes fun trading even when the move does not turn out the way we anticipated and we can get back on the side of the main trend that we are trading.

Thanks

 

[Tradewithhunter]

The current swing shorts in 315 is in good 500 points profit now (excluding 3 EMA exits)....

back to back 2 nice swings.....

People holding multiple lot shorts might want to book partial or book full and move in options in case they want to take off some profits and make the trade risk free.

Cheers
SH

 

[varunsurat]

The current swing shorts in 315 is in good 500 points profit now (excluding 3 EMA exits)....

back to back 2 nice swings.....

People holding multiple lot shorts might want to book partial or book full and move in options in case they want to take off some profits and make the trade risk free.

Cheers
SH

Dear SH ,

After 4th whip, big rally seen ( 4992 to 5398 ) , but as per MM rule first sell signal generated ( As per rule, i think it will be 1st whip or 1st signal after good rally should be ignored or use low qty).. How we should take position in this type of rally ..??

Hatts off to 315 again again..