SH's Intraday Strategy - ELH5
- Thread starter Tradewithhunter
- Start date
I did it for 3 months... june to aug... but with adx as filter...
I think with VMA as filter this system has potential to give some astonishing results...
unfortunately i am very busy with my own system and dont have time for doing a sys-check on this... It remains on my backburner and someday i'll dig it out of the closet and give it another look...
I think with VMA as filter this system has potential to give some astonishing results...
unfortunately i am very busy with my own system and dont have time for doing a sys-check on this... It remains on my backburner and someday i'll dig it out of the closet and give it another look...
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Short taken at 5481
I did the same thing ........!!!
only the time was 1.14pm
http://www.flickr.com/photos/60429566@N02/5514542176/
I did the same thing ........!!!
only the time was 1.14pm
http://www.flickr.com/photos/60429566@N02/5514542176/
Last edited:
I ve been trying to backtest method on some stocks and one of the few points i observed is that the method's loose edge is that on huge trending days we are not enjoying the benefit of the move as we are already out of the move after booking the profit and cant reenter cause the price does nt then retrace to the 5 ema low. On sideways days I think it is strong. Just the above post by linkon da is enough to nail the point. On sideways days getting in and out with small profits will keep us in the game, where as on trending days we need to find out a way to stay in the move for longer period rather than getting out quickly.
As lionkon da had said in one of his posts to use adx as a filter i too tried out the same. I must admit I am not very good at indicators and being a newcommer myself I m not on the same plane as many who ve been posting here. Neverthless thought to share my views.
As linkon da had saidteh ADX below +DI and -DI and ADX beloww 25 indicates directionless market. Similarly I have a suggestion ie, if the ADX is rising and above 25 and we get a trigger and also if the +DI and -DI confirms the trend in our direction, then we dont book complete profit at our targets. Rather we book 50 % and let the 50 % ride.
Inother cases as of the ADX not rising or below either of +DI - DI or below 25. We ll book complete profits at our targets.
Jus being able to ride the wave on some of the trending days would be enough to raise the profitability of the method in a long way I guess.
I have not tested it rather its just a though that came in my mind. I may be utterly wrong in them as my understanding of the markets and the indicators is still at a very nascent stage. So in case I ve made an error pleas forgive...
Will be backtesting it today or tomorrow and if i see something will live test in the market and share my results here...
As lionkon da had said in one of his posts to use adx as a filter i too tried out the same. I must admit I am not very good at indicators and being a newcommer myself I m not on the same plane as many who ve been posting here. Neverthless thought to share my views.
As linkon da had saidteh ADX below +DI and -DI and ADX beloww 25 indicates directionless market. Similarly I have a suggestion ie, if the ADX is rising and above 25 and we get a trigger and also if the +DI and -DI confirms the trend in our direction, then we dont book complete profit at our targets. Rather we book 50 % and let the 50 % ride.
Inother cases as of the ADX not rising or below either of +DI - DI or below 25. We ll book complete profits at our targets.
Jus being able to ride the wave on some of the trending days would be enough to raise the profitability of the method in a long way I guess.
I have not tested it rather its just a though that came in my mind. I may be utterly wrong in them as my understanding of the markets and the indicators is still at a very nascent stage. So in case I ve made an error pleas forgive...
Will be backtesting it today or tomorrow and if i see something will live test in the market and share my results here...
Actually, its the other way round... On a nice trending day, you'll get plenty of entry and exits... A typical trend day will have about 100 points range and this system will give u 3-4 trades of 20 each. A typical trend following system will give u a single trade of 50 points, as the entry / exit will be delayed and the gap between the entry and exit wont fetch u more that 50% of the range.
On a sideways day, this system will not kill, simply because the entry is at a retracement, the damage wont be big and the system will give an exit much before the 20 point sl hits. Here the distance between entry and exit will be max 5-6 points.
This system taught me the power of pre-dermined entry / exit and a big fact that waiting for confirmation will lead to bad trade location... have a preset condition for trend detection and enter blindly with mental preperation of a max loss of 20 points...
On a sideways day, this system will not kill, simply because the entry is at a retracement, the damage wont be big and the system will give an exit much before the 20 point sl hits. Here the distance between entry and exit will be max 5-6 points.
This system taught me the power of pre-dermined entry / exit and a big fact that waiting for confirmation will lead to bad trade location... have a preset condition for trend detection and enter blindly with mental preperation of a max loss of 20 points...
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