Thoughts on Day/Swing Trading Part 2

[friendforevers0007]

St sir can you define your exit strategy like one of your post you said you took not more than 20-30 points risk but here you took 63 points risk ??����

 

[techtrader2]

This looks very nice st. Would like to see this strategy on sidewaus period. Thanks

 

[Smart_trade]

Smart_trade,
Can you explain the conditions for Entry?.

It seems Like Stop and reverse am I right?

Yes it is a Stop and Reverse strategy except when we exit at end of the day when the trade is not working out by closing above/below the pivot above/below which we went long/short.

Entry is on 60 min pivots.

Smart_trade

 

[Smart_trade]

St sir can you define your exit strategy like one of your post you said you took not more than 20-30 points risk but here you took 63 points risk ??����

If daytrading then stops in nifty will never be more than 15 points, if swing trading,then we have to allow more room for stops.

We have not considered any early exit strategy except EOD exit.

Smart_trade

 

[Smart_trade]

This looks very nice st. Would like to see this strategy on sidewaus period. Thanks

Yes it is worthwhile testing it on difficult sideways periods to see whether it gives a scratch month or a small negative month.

Smart_trade

 

[niftyrider]

Yes it is a Stop and Reverse strategy except when we exit at end of the day when the trade is not working out by closing above/below the pivot above/below which we went long/short.

Entry is on 60 min pivots.

Smart_trade

ST Da,
Yesterday I reversed my positions above 1st bar(high 5769+f).
But in ur charts it shows 5777 and bar timing is 9:45,10:45 and so on...
any specific reason u kept setting like this...

 

[Smart_trade]

ST Da,
Yesterday I reversed my positions above 1st bar(high 5769+f).
But in ur charts it shows 5777 and bar timing is 9:45,10:45 and so on...
any specific reason u kept setting like this...

No....the setting in the database accidently got changed and showing first bar as 9:45 .....it should show 9:30,10:30,11:30 etc....thanks for pointing out...now corrected the settings.

Smart_trade

 

[dhinakar113]

No....the setting in the database accidently got changed and showing first bar as 9:45 .....it should show 9:30,10:30,11:30 etc....thanks for pointing out...now corrected the settings.

Smart_trade

ST Da,

I am keeping the settings for showing Hrly bars as 10, 11, 12,....3.30. Is it ok, or should I change it?

Dkr

 

[Smart_trade]

ST Da,

I am keeping the settings for showing Hrly bars as 10, 11, 12,....3.30. Is it ok, or should I change it?

Dkr

9:30/10:30/11:30 setting has an advantage in gap opening. We can take action on a bar completing at 9:30 ie 15 min after the market opens....

ST

 

[dhinakar113]

9:30/10:30/11:30 setting has an advantage in gap opening. We can take action on a bar completing at 9:30 ie 15 min after the market opens....

ST

Sorry, Da. Though I do not trade positional, am a pure day trader, I totally forgot the advantage of it. I use only 30 min TF for reference. Thanks Da.

Dkr