Thoughts on Day/Swing Trading Part 2

[midas touch]

....Deleted....

 

[dhinakar113]

Yes Krishna, very true....the indicators are just set ups which prepare us for a trade but the actual trade is when the market starts moving in an anticipated direction,so the price action supercedes everything else.....

It is like we would like to catch the bus on the first or second stop when it starts moving on the desired route....we would not go to the bus terminus and sit in the parked bus in anticipation/hope that this particular bus will start sometime and will ply on the desired route.....

Many times the set up gets completed but the market does not move in the desired direction.....so we wont get into a trade and keep waiting. When it breaks the pivots, market is sending a signal that it is now moving in our anticipated /desired direction and that is when we should enter in a trade.

Smart_trade

Pranoms ST Da. Very nice to see you, in action again. Learned so much from you. Thank you so much.

Dkr

 

[Gaur_Krishna]

Da, this BUS example is most suitable for me! Being a pure veggie by nature, I was finding "meat", "soup" very distasteful.... But with this BUS and previous CAR explainations, may be I can catch them at first /second stop .......:clapping:

Regards,
Gaur_Krishna

Yes Krishna, very true....the indicators are just set ups which prepare us for a trade but the actual trade is when the market starts moving in an anticipated direction,so the price action supercedes everything else.....

It is like we would like to catch the bus on the first or second stop when it starts moving on the desired route....we would not go to the bus terminus and sit in the parked bus in anticipation/hope that this particular bus will start sometime and will ply on the desired route.....

Many times the set up gets completed but the market does not move in the desired direction.....so we wont get into a trade and keep waiting. When it breaks the pivots, market is sending a signal that it is now moving in our anticipated /desired direction and that is when we should enter in a trade.

Smart_trade

 

[Gaur_Krishna]

ST da,

I want to know role of VOLUMES in trading. Currently, what I know is that volueme can be used to differentiate retracement and reversal.

1. But what are the additional roles of VOL in day / swing trading?
2. When we use 5 OB/OS observation, do we consider VOL, or its factored in the price?
3. The problem in using VOL as one of the parameter is that, when you are using for a script like say SBIN, you dont know how many are trading and how many are delivery vol, so tend to committ mistakes as at times our standard observations fail and price raises on low vol. We think its retracement and loss keeps building and need to square off at available price at 3.20 pm.

Thanks in advance,

Regards,
Gaur_Krishna

 

[Smart_trade]

ST da,

I want to know role of VOLUMES in trading. Currently, what I know is that volueme can be used to differentiate retracement and reversal.

1. But what are the additional roles of VOL in day / swing trading?
2. When we use 5 OB/OS observation, do we consider VOL, or its factored in the price?
3. The problem in using VOL as one of the parameter is that, when you are using for a script like say SBIN, you dont know how many are trading and how many are delivery vol, so tend to committ mistakes as at times our standard observations fail and price raises on low vol. We think its retracement and loss keeps building and need to square off at available price at 3.20 pm.

Thanks in advance,

Regards,
Gaur_Krishna

Volume plays important role in trading, but it is to be used as a supporting tool.

1) Impulse bars will have large volumes and the corrective move bars will have smaller volumes.

2) If any pivot is broken with large volumes,the breakout/ breakdown is likely to be genuine.

3) in 5 bars OB/OS also though volume is not a critaria, it will give many important clues.

4) If a pivot is broken on light volumes, it is probably a test of a bottom/top and smart money is testing ...if the volumes dont follow, the move is likely to reverse.

Use volumes as a supporting tool...

Smart_trade

 

[friendforevers0007]

dear st sir can you check my entries of swift method

 

[Smart_trade]

dear st sir can you check my entries of swift method

Hello FFE,

Your entries are good...they are as per the method....but I can suggest slightly better entries with reasons as under :

1) First short trade short below the 7th bar low....why ? because it is a virtual high after a sideways move and short the low of this bar.

2) Second short entry short below 29th bar low....because the green 30 th bar makes 29th bar low as a pivot....

These entries could have got you into the trade little early....but your entries are ok..they are not wrong...well done...

Happy trading,

Smart_trade

 

[friendforevers0007]

thanks for prompt reply but sir in second trade i don't go short below 29 bar because the bar touching the ma line as per rules i know (correct me if i am wrong) if bar touches ma line we can't consider for pivot.

 

[midas touch]

dear st sir can you check my entries of swift method

Friend...
Where will I get rulebook of Swift Method here,on Traderji..??
I tried to join Saint's Forum,but I'm getting some error like "Page Can not be found.." "Try Again"..."make sure your internet is..."

Page hi open nahi ho raha hai to kaise forum join karu? huh?

Also,how Swift is different that Ambush?

 

[Smart_trade]

thanks for prompt reply but sir in second trade i don't go short below 29 bar because the bar touching the ma line as per rules i know (correct me if i am wrong) if bar touches ma line we can't consider for pivot.

The method does not restrict entry on pivots when the pivot bar is touching the MA, though many people trade that way....I always take entries even if it is touching as long as the pivot low is below MA, and MA sloping down.

Smart_trade