Trading the Enterprise...!
- Thread starter linkon7
- Start date
Both are different versions of the game..!!
Here one needs to b very active with the system.. a system designed for active traders ONLY.. As linkon calls it, CHIINDI CHOR... so sclaping is the name of the game..
In gann, wat we r trying is to predict market movements.. and if one follows gann strategy with pure discipline, i dont think we have ever had a day there with no gains.. The only question which GANN strategy fails to answer is which is the BEST profit booking tgt.. T1 or T2 or T3.. the answer for which can b a TSL strategy which can b defined in many ways...
Moreover, this system requires accurate data.. data feed is a KEY SUCCESS FACTOR here...
Do consider wat type of trader u r before using any strategy..
Here one needs to b very active with the system.. a system designed for active traders ONLY.. As linkon calls it, CHIINDI CHOR... so sclaping is the name of the game..
In gann, wat we r trying is to predict market movements.. and if one follows gann strategy with pure discipline, i dont think we have ever had a day there with no gains.. The only question which GANN strategy fails to answer is which is the BEST profit booking tgt.. T1 or T2 or T3.. the answer for which can b a TSL strategy which can b defined in many ways...
Moreover, this system requires accurate data.. data feed is a KEY SUCCESS FACTOR here...
Do consider wat type of trader u r before using any strategy..
system USP :
1. detects trend change very early
2. doesnt like to keep trade open for more than 3-4 bars if the order flow is not strong in the direction of the trade. This leaves no room for a trader to go into the HOPE mode.
3. if the orderflow is strong, then it trails the trade is one of the best way i have seen so far. Once a trade is in profit, it will try to capture at 20-25 point profit as soon as possible.
4. It trades the NOW and doesnt have any bias. A falling market and if price momentum is neutral to bullish on the short term, it'll go for long. Most of us will be shaken by the directional move and refuse to take contra unless the pivot high / low is broken. BIAS kills most traders. This system knows it is a scalper and hence has no bias. worst case it knows damage wont be more than 12 points.
5. it delays the EXIT while keeping the entry immediate. It makes a world of a difference as most trader will delay the entry and exit immediately...! confirmation leads to bad trade location. Most traders learn that the hard way, but have no choice as confirmation is needed to filter bad trades.
6. Its cheap...for Rs 1700, its a good bargain...!
system drawback :
1. It has too many trades for a system designed on 5 min tf. A trader with high brokerage cant afford to trade this system. But again, a trader with high brokerage has no business trading like a scalper....!
2. The data needs to be be of good quality. For a scalper, it is very important to have such data anyway if anyone want to be active scalper.
3. Back test report assumes everyone is trading with RKG, i.e. less than 2 points for breakeven. Safe assumption is, people trade with 1 paise brokerage or use zerodha's 20 rs per trade or RGK. Either of the 3, will mean a guy will need maximum 3 points to break even.
4. backtest results give the maximum points that was possible for that given day. Trader has to assume that he will have slippages and bad entry / exits and remove at least 20% of the points projected. If system says, 500 points per month, trader has to assume he will get roughly 400 per month....!
1. detects trend change very early
2. doesnt like to keep trade open for more than 3-4 bars if the order flow is not strong in the direction of the trade. This leaves no room for a trader to go into the HOPE mode.
3. if the orderflow is strong, then it trails the trade is one of the best way i have seen so far. Once a trade is in profit, it will try to capture at 20-25 point profit as soon as possible.
4. It trades the NOW and doesnt have any bias. A falling market and if price momentum is neutral to bullish on the short term, it'll go for long. Most of us will be shaken by the directional move and refuse to take contra unless the pivot high / low is broken. BIAS kills most traders. This system knows it is a scalper and hence has no bias. worst case it knows damage wont be more than 12 points.
5. it delays the EXIT while keeping the entry immediate. It makes a world of a difference as most trader will delay the entry and exit immediately...! confirmation leads to bad trade location. Most traders learn that the hard way, but have no choice as confirmation is needed to filter bad trades.
6. Its cheap...for Rs 1700, its a good bargain...!
system drawback :
1. It has too many trades for a system designed on 5 min tf. A trader with high brokerage cant afford to trade this system. But again, a trader with high brokerage has no business trading like a scalper....!
2. The data needs to be be of good quality. For a scalper, it is very important to have such data anyway if anyone want to be active scalper.
3. Back test report assumes everyone is trading with RKG, i.e. less than 2 points for breakeven. Safe assumption is, people trade with 1 paise brokerage or use zerodha's 20 rs per trade or RGK. Either of the 3, will mean a guy will need maximum 3 points to break even.
4. backtest results give the maximum points that was possible for that given day. Trader has to assume that he will have slippages and bad entry / exits and remove at least 20% of the points projected. If system says, 500 points per month, trader has to assume he will get roughly 400 per month....!
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