Trades using Moving averages

[SavantGarde]

Thanks A Ton Augubhai...

Whenever you have time during the weekend...& see if there was any place during your trades where you may have been able to squeeze more profit or relatively more sure of taking or exiting trades....looking at the chart with same setting as you had today but with added BB to it....

On my part I will explain..during the weekend once I read your comments...

Thanks once again...

SG

 

[augubhai]

Yummy, yummy crude oil chart with SMA 3,5,8 and BB 9,2 (after 6 PM)

Copper was also yummy today.

 

[augubhai]

Friday Nifty chart with SMA 3, 5, 8 and BB 9,2

 

[augubhai]

Just looking at the above chart now. Not sure if I am on the right track.

Observation:
1. For Profit taking while long, take profit on a red bar that does not touch the upper BB, provided there was some other that had touched the upper band. Vice versa, for shorts.

Will edit this post if I have more observations to add.

 

[augubhai]

Triggers placed above high and low of day

 

[augubhai]

Short @ 5536

 

[augubhai]

Arpit,

Let me attempt. I do not have any fixed rules. I will try to describe what I did today - I did this for the first time today, and have never followed these rules before, and am not sure if I will follow them next week. I am still trying out different options. Basically treat this is my learning thread, not a teaching thread.

1. Enter longs only when all the SMA's -3, 5 and 8 point upwards. Preferably, enter on break of high the previous bar. Vice versa for shorts.

2. Move Stop Loss as soon as possible to entry point. Then trail the lows of 2 previous blue bars. Vice versa for shorts.

3. Exit partial when you have a few bars in your favor that close far away from the 3 SMA. (Quite arbitary)

4. Add on break on major visual pivot. (Again, arbitary)

Hope this helps. Your query kind of helped me organize and list the points above.

Plan to mostly follow the same rules today. Want to book profit in 1/4 of initial position and adds in 1/2 of initial position.

Will try to be more aggressive with adds. Will try to be more aggressive in booking profits also, but if the multiple wide bars in my favor, then I would rather use Bollinger Band 9,2 for exit.

Thanks to Linkon and SG for helping me along the way. Hopefully, this is a profitable system

 

[augubhai]

SL moved to 5545

 

[augubhai]

SL hit at 5545

 

[augubhai]

Short trigger at 5535