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MTT System Discussion - Sep 2011 |
SwingTrader
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Post: #196  Posted: Thu Sep 01, 2011 10:51 pm Post subject: |
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| rvgandhi wrote: | ST Sir.. thanks for sharing a trading system.
I usually trade hourly charts and look at 15 min charts for entry/exit signals..
Can this system be used as is with a 15/60 combo in place of the 5/15 combo ?
rgds |
rvg,
For 60/15 mins combo trades do you hold your position overnight? Or is this just intraday only?
I have looked at it a bit and I think higher timeframe settings are fine as is but lower timeframe settings may have to be changed. Please let me know answer for the above question and I will look into this further.
Regards.
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SwingTrader
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| Post: #197 Posted: Fri Sep 02, 2011 9:30 am Post subject: |
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STS on HTF is OB so we can look for reversal to short on LTF. But at the same time moving averages on HTF are bullish and CCI on LTF is OS so we may get a regular long trigger also.
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Srikanth Kurdukar
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rvg
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| Post: #198 Posted: Fri Sep 02, 2011 9:32 am Post subject: |
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ST Sir..
I don't mind holding positions overnight for few days.. based on overall market trends. It's tough for me to play the intra market.
thanks for the help |
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nsk1371
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| Post: #199 Posted: Fri Sep 02, 2011 9:42 am Post subject: st sir |
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| moving average in ltf. given cross over tos hort below days low.. and cci in ltf has closed above 0. and given a buy signal... confusing.. |
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SwingTrader
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| Post: #200 Posted: Fri Sep 02, 2011 9:45 am Post subject: Re: st sir |
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| nsk1371 wrote: | | moving average in ltf. given cross over tos hort below days low.. and cci in ltf has closed above 0. and given a buy signal... confusing.. |
Moving averages on LTF have not given the short signal yet (5 mins chart - WMA / SMA). You will have to check the crossovers only for the bars that have CLOSED...the current bar should be ignored until it closes. Regular long signal was given with ISL below swing low of 5003.
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satishboda
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| Post: #201 Posted: Fri Sep 02, 2011 9:49 am Post subject: |
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| Dear ST.. how was the regular long determined.. is it because a green candle closed above both moving averages on LTF... |
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satishboda
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| Post: #202 Posted: Fri Sep 02, 2011 10:08 am Post subject: |
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| Dear ST.. the system has not given a CCI long trigger yet.. please explain how the long was derived.. thks.. |
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SwingTrader
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| Post: #203 Posted: Fri Sep 02, 2011 10:09 am Post subject: |
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| satishboda wrote: | | Dear ST.. how was the regular long determined.. is it because a green candle closed above both moving averages on LTF... |
Regular Long : on HTF WMA is above SMA (indicating bullish trend), on LTF CCI falls down and hits -100 and then closes above 0 (I call this a CCI pullback). This triggers regular long.
On LTF regular long was triggered on close of the 9:40 bar. ISL was 2 pts below 5003 swing low. Once the current 5 min bar closes stop will be moved to 2 pts below the 10:05 bar (swing low).
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SwingTrader
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| Post: #204 Posted: Fri Sep 02, 2011 10:31 am Post subject: |
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TSL for the regular long now is 2 pts below the 10:25 low of 5020.30.
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SwingTrader
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| Post: #205 Posted: Fri Sep 02, 2011 10:43 am Post subject: |
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NF in BULL-R1 area, this is area of major resistance. Tighten stops a bit / grab some profits as per your preference. If R1 clears we could get another big swing up.
Below BULL back to LOC/BEAR-S1.
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| Post: #206 Posted: Fri Sep 02, 2011 11:27 am Post subject: |
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TSL now 2 pts below 5035.45.
STS on HTF is OB but since we are long we will have to wait for a close below prior swing low for reversal short trigger (preferably this swing low must be below both moving averages on LTF or at least the bar that breaks this swing low must close below both moving averages on LTF).
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SwingTrader
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| Post: #207 Posted: Fri Sep 02, 2011 11:44 am Post subject: |
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TSL hit but reversal short NOT triggered (it requires a close below the prior swing low which did not happen yet).
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SwingTrader
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| Post: #208 Posted: Fri Sep 02, 2011 11:47 am Post subject: |
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Trend continues to be up as BULL level did not break to the downside. Moving averages on HTF continue to be bullish.
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vinay28
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| Post: #209 Posted: Fri Sep 02, 2011 11:50 am Post subject: |
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Dear ST
Pl indicate levels in your comments. Not S to R but e.g. prior swing low, etc. |
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satishboda
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| Post: #210 Posted: Fri Sep 02, 2011 11:50 am Post subject: |
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| can we enter a long trade once again at CCI long trigger... |
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