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members playing intraday based on divergences |
apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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Post: #16  Posted: Sat Oct 13, 2012 7:40 am Post subject: |
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rose 30 points approx.
Theres no reply so i guess this is not the divergence others had in mind. What type of divergences do you guys trade? Any examples by charts? |
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shahrachit
White Belt
Joined: 12 Jul 2012
Posts: 117
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| Post: #17 Posted: Sat Oct 13, 2012 7:59 pm Post subject: Re: members playing intraday based on divergences |
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What momentum you prefer and the time frame ??
| mamtagupta wrote: | Dear all members,
Please get in touch if you play the market based on divergences.
We can exchange the ideas for better. |
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shahrachit
White Belt
Joined: 12 Jul 2012
Posts: 117
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| Post: #18 Posted: Sat Oct 13, 2012 8:02 pm Post subject: Re: Lost money |
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Hello Anusantosh,
I think the strategy you are talking will give high probability of gains.
I still need to set a trade and do optimizations in weekly time frame and daily time frame.
In case you have decoded it; can you provide the details with the charts!!!
| anusantosh wrote: | Lost lot of money while trading with divergences. So, as like any other methods initially this will bring profits and confidence. But failures will wipe out profits.
But still I trade with divergences only and making smart profits! What I learned after losing big chunk of money is if we trade in shorter time frame like 5 min we lose trade.
Reasons be...
In short time market runs normally volatile it goes after every news, global mkts, excitements, sentiments etc etc. So, these divergences may not work. If we trade 5min divergence at least we should know the trend of 30 min TF and it is unreliable in shorter time frames like 5-30 min.
For example, many times we see Bata India charts shows multiple divergences on 5 min chart and it violates every time your buy/sell price in half - one hour.
Divergences are the best and powerful signals to trade no doubt. Use it on daily charts only after you confirm the trend from weekly chart. If weekly is up and you got daily bullish divergence then go long by making precise entry MAY BE with 5 min chart on particular day you found divergence. Plenty of room available to exit if something goes against your trade as the days passing. If trend is very strong your chart may show bearish divergences after some time where you can exit your longs.
This may take few days to weeks but profits will be growing. The money made with this is much more when you glued into 5 min divergences losing 7 trades and profiting 3 trades and over all in to losses. |
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