SH's Intraday Strategy - ELH5

[Tradewithhunter]

one small query..if opposite signal is triggred then we shall exit at candle close..or we shall wait for the hi/low of that trigger candle to exit..(& that too wd sum filter or without filter).

Vikas - As confirmed to you on icharts - please exit at candle close only.

Cheers
SH

 

[rrmhatre72]

OK guys - maybe imageshack is where I will upload the charts and post the links here.

Coming back to intraday strategy, the AIM of this strategy is to

1. Get 2-10 trades per day
2. Profit target is 20 points and stop loss is also 20 points per trade (1:1 risk reward ratio)
3. To have 70% success ratio i.e if we get 100 trades per month ... 70 successful trades giving 1400 points profit and 30 losing trades giving 600 points loss ... Net profit of 800 points per month.

Above is the aim of this strategy - lets see if we are able to achieve it over the next one month or not .....

What do we need on our charts

1. We need 5 minutes Nifty futures real time charts
2. We need to plot 5 EMA (high) and 5 EMA (low) on these charts.

Thats it !!!

Entry rules

Wait for the trigger - The trigger is when we have 2 consecutive candle closes above 5 EMA (high) for BUY or 2 consecutive candle closes below 5 EMA (low) for SELL

Actual Entry - When we get one of the above triggers.... we wait for a small pullback and then jump in ... in case of BUY trigger, we enter longs when the price falls and gets close to 5 EMA (low)... in case of a SELL trigger, we enter shorts when prices rises and gets close to 5 EMA (high).

Exit rules

Simple ... 20 point profit and we exit ... similarly 20 point SL.

I am attaching yesterdays 5 mins charts with triggers... entries and exits.

Please check the same and post any queries. WE got 3 winning trades yesterday and one losing trade with only 5-10 point loss. Overall 40-50 points profits.

http://img340.imageshack.us/img340/4528/screenhunter01dec010947.gif

Enjoy!

Cheers
SH

thanks SH for sharing this...

Hi all,

In google finance I see only EMA. Is there any way to get EMA(low) & EMA(high).. Appreciate your advice....

 

[vikas2659]

Hi Friends,

We had 4 trades yesterday (marked on the charts attached) and all gave profits so we made 80 points profit yesterday.

Our total profit in last 6 days has gone up to 230+ points which is a good start!

Lets see what today brings. The global market cues are flat so we need to be slightly cautious of a small range day. Remember - 2 consecutive SLs mean no more trades for the day.

Enjoy!

http://img32.imageshack.us/img32/109...1dec080840.gif

Cheers
SH


Bt one long trade entered arund 6001 levels gave 20 pt SL..( dats d big dn candle at 2.50 pm)..was it my SL only..how others managed to save..(low of dat candle is 5979..i was stopped out at 5981( -20 pts ..6001-5981)

 

[vikas2659]

Hi Friends,

We had 4 trades yesterday (marked on the charts attached) and all gave profits so we made 80 points profit yesterday.

Our total profit in last 6 days has gone up to 230+ points which is a good start!

Lets see what today brings. The global market cues are flat so we need to be slightly cautious of a small range day. Remember - 2 consecutive SLs mean no more trades for the day.

Enjoy!

http://img32.imageshack.us/img32/109...1dec080840.gif

Cheers
SH


Bt one long trade entered arund 6001 levels gave 20 pt SL..( dats d big dn candle at 2.50 pm)..was it my SL only..how others managed to save..(low of dat candle is 5979..i was stopped out at 5981( -20 pts ..6001-5981)

 

[Tradewithhunter]

Hi Friends,

We had 4 trades yesterday (marked on the charts attached) and all gave profits so we made 80 points profit yesterday.

Our total profit in last 6 days has gone up to 230+ points which is a good start!

Lets see what today brings. The global market cues are flat so we need to be slightly cautious of a small range day. Remember - 2 consecutive SLs mean no more trades for the day.

Enjoy!

http://img32.imageshack.us/img32/109...1dec080840.gif

Cheers
SH


Bt one long trade entered arund 6001 levels gave 20 pt SL..( dats d big dn candle at 2.50 pm)..was it my SL only..how others managed to save..(low of dat candle is 5979..i was stopped out at 5981( -20 pts ..6001-5981)

Vikas - my entry was 5995 becuase that where 5 EMAL was .. the fall was so sudden that maybe you entered early by 5-10 seconds...

Cheers
SH

 

[amitava82]

Ok - Icharts seems to be a cheaper and more reliable option then for this strategy ...

Cheers
SH

How much is iChart?

 

[amitava82]

Should we consider yesterday's candles for trade because of gap down?

 

[Tradewithhunter]

Should we consider yesterday's candles for trade because of gap down?

Nope - we wait for todays candle to first come inside the channel once... after that we wait for a trigger ... please refer to yesterdays charts and see where we got the first trigger after gap up.

Cheers
SH

 

[bhaskar145]

deleted as already replied by SH

 

[Tradewithhunter]

Please note we are still waiting for a valid trigger after the candles have come inside the channel. No trades until we get a valid trigger.

Cheers
SH