Trading according to Karthiks strategy..

[msa5678]

Hi MSA,
I think u are asking for the 2 day Black/White candle strategy. If the Open and Close are the same price it means a Doji. We cannot come to a conclusion that the day closed with Red/Green so better wait for another two days!

Karthik

Hi Karthik Sri,

Thanks for the reply.
Any strategy around Doji Candles. As I am finding a lot of them during backtestiing.

Regards

 

[vinst]

NF is in sell setup according to 5min gap opening strategy. pls chk chart as i am unable to post chart.

 

[mangup]

NF is in sell setup according to 5min gap opening strategy. pls chk chart as i am unable to post chart.

As per 2 candle set up - NF is in buy set up, as it has given 2 white candles on EOD. Also it has triggered long today by going above high of 1st 5 min candle.

 

[Student]

NF is in sell setup according to 5min gap opening strategy. pls chk chart as i am unable to post chart.

As per 2 candle set up - NF is in buy set up, as it has given 2 white candles on EOD. Also it has triggered long today by going above high of 1st 5 min candle.

This was what I meant in post# 735. Gap Up/Down and 2 Day candle strategies can contradict trade. Senior members pls guide us on how to handle such trades OR is it better to avoid such trades?

 

[vinst]

This was what I meant in post# 735. Gap Up/Down and 2 Day candle strategies can contradict trade. Senior members pls guide us on how to handle such trades OR is it better to avoid such trades?

both sides SL would have been hit.

 

[mangup]

Hi Karthik_Sri,

Is there any logic behind only 2 candle to be considered in the setup. Why not 3 (Being widely used Fibbo no.)?

 

[mew]

karthik,at the time of 9.16a.m.Two days red candle.then we enter low price which shows at 9.16a.m.suppose at the time is low100.then we enter for short.right.FIRST 5 min candle means time of 9.16 am....

 

[karthik_sri]

Hi Karthik_Sri,

Is there any logic behind only 2 candle to be considered in the setup. Why not 3 (Being widely used Fibbo no.)?

Hi Mangup,
To confirm the trend formation I have taken 2. There is no wide reason behind this as this is simple strategy and that too for intraday scalping.

Karthik

 

[karthik_sri]

both sides SL would have been hit.

Why both the sides SL would have Hit?

As per two day strategy we would have been SL Hit. But on GAP Strategy you would have been in decent profits.

2 day strategy : Enter : 6070.95 SL: 6060.20 (The low of first 5min candle) and target 6090.95 which didnt happen and SL hit on 11.10am

GAP Strategy: Today first 5min candle made GAP DOWN compared to previous day last 5 min candle indicating SELL. As per the strategy Short Sell @ 6060.20 SL 6070.95 The price met our low price on 11.10am and if trade initiated against this short sell decent profit in hands. Nifty made low of 6011.10 (50 points!)

My Observation on the strategy: The two day Green candle gave me a Hint that price is in upward momentum and decided to Go Long on the next day. But as the market opened the GAP DOWN Hinted me that the sentiment of two days is shaken. The today morning GAP Down hinted me the Trader sentiment that the momentum of Uptrend has declined!

P/L 2 day Strategy : -10.50 points
P/L Gap Strategy : 31.00 points (though it gave 50 points but as I said Rs.1000/- a day I would exit with covering my losses and earning Rs.1000/-):thumb:

http://i.imgur.com/g182j.jpg

Karthik

 

[karthik_sri]

I would suggest not to try these strategies in NIFTY as earning Rs.1000/- requires 20 points movement in NIFTY because of the LOT size of NIFTY. You will find very difficult earning Rs.1000/- in NIFTY using these strategies. Please try with Highly traded Future Stocks.

Karthik