SH's Intraday Strategy - ELH5

[Nava]

For people who are still not comfortable trading this yet, should paper trade ..there is no hurry to jump into trading with real money.
Cheers
SH

Dear SH and others,

What are the advantages of paper trading the strategy for one month

over the back testing the strategy with one month previous data.

Regards,

 

[columbus]

Can u pls elaborate ur statement?

Hi Bhaskar,

First assume a Range-Bound market and look for a target of 30~40 points.
If your target is easily met ,raise the bar slowly for more points.
RSI/ Stochastics will help you to identify any Reversals.Little bit of practice
here will help you gradually.

 

[columbus]

Dear SH and others,

What are the advantages of paper trading the strategy for one month

over the back testing the strategy with one month previous data.

Regards,

Hi Nava,

I personally feel trading in MINIFTY is useful than paper trading.

1.While doing PT there no fear.No money management.
2.The impact of MTM is not at all there.

While doing paper trading my success rate was 90%,which is missing now
with real money.

 

[summasumma]

OK guys - today 3 trades for me:

First trade - gave 11 points loss
Second Trade - gave 20 points profit
Third trade - gave 2 points loss

I stopped trading at this point ... 7 points profit. If we deduct brokerage etc its a breakeven day (or very small loss day if you pay high brokerage).

There was a 4 buy generated which gave 20 point profit in the end ... which we couldnt trade becuase of our 2 consecutive SL rule.

For Day trading, remember you can never have any system which will give you profits each days since markets behave differently on every single day. There is not holy grail .... !

To be successful in day trading .. remember

1. Have some big profit days
2. Have more of breakeven days or small profit days
3. Have some small loss days
4. Zero tolerance for big loss days !!

Since the day we started trading this strategy, we have had only one loss day yesterday where we lost 29 points. Otherwise we have had either big profits days or breakeven/small loss days. The 2 SL rule ensures we never have a big loss day.

Overall, my ledger is still 200+ plus on this strategy since 30th November. No reason at all to lose confidence and throw in the towel.

For people who are still not comfortable trading this yet, should paper trade ..there is no hurry to jump into trading with real money.

As I said, I am also learning new things with you guys about this strategy and we need to fine tune it before we make it a trading plan.

Cheers
SH

Hi SH/Everybody,

I will try my LUCK today again. Nobody bothers to help with my previous posting. Please clarify this one atleast, if some senior members can spend their little time (if possible ).

I just want to know whther the marking of triggers/buy/exit are correct in the following image:
http://img827.imageshack.us/img827/4898/nf14122010.png

If so, that is yesterdays NF chart. I wonder how SH sir have posted profit in yesterdays msg.... Either my marking is wrong or i am seeing wrong chart? Kindly clarify.

Thanks,
...summasumma

 

[vikas2659]

SH sir..Bt there were no two consecutive SL's..then why next trade was not taken..?? Is the day over rule is two consecutive SL or two SL's anyhow..??

 

[Tradewithhunter]

Hi SH/Everybody,

I will try my LUCK today again. Nobody bothers to help with my previous posting. Please clarify this one atleast, if some senior members can spend their little time (if possible ).

I just want to know whther the marking of triggers/buy/exit are correct in the following image:
http://img827.imageshack.us/img827/4898/nf14122010.png

If so, that is yesterdays NF chart. I wonder how SH sir have posted profit in yesterdays msg.... Either my marking is wrong or i am seeing wrong chart? Kindly clarify.

Thanks,
...summasumma

Dear SummaSumma,


Your chart is incorrect, you have plotted 5 EMA(close) instead of 5 EMA (low).

Therefore all your entries and exit are incorrect. Please correct the indicators and post the new charts.

Cheers
SH

 

[VJAY]

can we take this sell signal or wait for another due to gap down open?

 

[amitava82]

No, Wait for candles to come inside of EMA then wait for buy/sell signal.

 

[vikas2659]

can we take this sell signal or wait for another due to gap down open?

Let the price cum bak into the channel...then wait for trigger...

SH sir correct me...if i m wrong

 

[VJAY]

Is now short valid?......