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MTT System Discussion - Sep 2011 |
nsk1371
White Belt
Joined: 01 Sep 2009
Posts: 226
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Post: #331  Posted: Wed Sep 07, 2011 11:12 am Post subject: revised sl |
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| revise sl for longs to 2 points blw 11 low (5090.60)
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nsk1371
White Belt
Joined: 01 Sep 2009
Posts: 226
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| Post: #332 Posted: Wed Sep 07, 2011 11:58 am Post subject: revised sl |
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revise sl 2 points blw 11.50 low (5100.05) ..
but for reversal shorts v need a close blw 5090 ( 11.25 low) and moving avg cross overs in ltf.. and virtually that close wil b blw the moving avg..
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #333 Posted: Wed Sep 07, 2011 11:58 am Post subject: |
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| nsk, go short below 5088 or 5081?
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nsk1371
White Belt
Joined: 01 Sep 2009
Posts: 226
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| Post: #334 Posted: Wed Sep 07, 2011 12:04 pm Post subject: think the messg blw has cleared |
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| vinay28 wrote: | | nsk, go short below 5088 or 5081? |
sir,
reversal short rule in mtt system ..( copied and pasted from the rules)
FOR REVERSAL SHORT TRADES (one of the below, whichever is earlier):
1. Let WMA close below SMA.
2. A close below the most recent swing low that is below both moving averages OR if the swing low is not below both moving averages then the close of the bar that breaks the swing low must be below both moving averages.
so as per this v can short blw 90 but that bar has to close blw mov. avg and mvg avg cross over has to b in place..
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #335 Posted: Wed Sep 07, 2011 12:07 pm Post subject: |
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nsk, for god's sake pl don't call me sir. In my organisation, I used to penalise my staff Rs. 500 if they did that. I have already objected for being given a yellow belt.
Also I don't know TA so pl post values and not just terms such as swing low, etc.
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jjm
White Belt
Joined: 17 Mar 2010
Posts: 411
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| Post: #336 Posted: Wed Sep 07, 2011 12:12 pm Post subject: |
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Hi
TSL shifted to Recent swing low - 2 ie. 5998
Regards,
JJM
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SwingTrader
Site Admin
Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #337 Posted: Wed Sep 07, 2011 12:18 pm Post subject: |
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I am back at my desk.....jjm and nsk1371, thanks for posting the updates.
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Srikanth Kurdukar
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #338 Posted: Wed Sep 07, 2011 12:18 pm Post subject: |
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| Thanks jjm
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SwingTrader
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Location: Hyderabad, India
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| Post: #339 Posted: Wed Sep 07, 2011 12:22 pm Post subject: |
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Move TSL up to 2 pts below the 12:10 bar swing low of 5107.70. 12:10 bar low is not a very clear swing low but it is good to protect profits... 
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Srikanth Kurdukar
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #340 Posted: Wed Sep 07, 2011 12:33 pm Post subject: |
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Those who want more profit protection, keep updating TSL on completion of every 5 min bar by checking the "Live Futures" chart (EMA of Low,8 ). Keep the stop 1/2 pts below the EMA of Low line.
NOTE: In this case the stop is on CLOSE basis (not on hit basis)
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Srikanth Kurdukar
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #341 Posted: Wed Sep 07, 2011 12:41 pm Post subject: |
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| ST, wasn't TSL hit. If so, is it short now?
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adsingh101
White Belt
Joined: 09 Nov 2010
Posts: 242
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| Post: #342 Posted: Wed Sep 07, 2011 12:52 pm Post subject: |
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| Short is about to triggered
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #343 Posted: Wed Sep 07, 2011 12:52 pm Post subject: |
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| vinay28 wrote: | | ST, wasn't TSL hit. If so, is it short now? |
Current TSL is 2 pts below 5107.70.....not hit yet. Do you mean the one based on live charts? That was the optional one for more profit protection. If one is out based on that then do nothing...wait for next signal. Being out of long is not automatic short, for reversal short it is best to wait for a swing low below both moving averages to break (as currently TSL has not hit so currently we are still short....so swing low break is necessary). If one was not short at this time then moving averages crossover would be sufficient for a short.
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Srikanth Kurdukar
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SwingTrader
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Location: Hyderabad, India
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| Post: #344 Posted: Wed Sep 07, 2011 12:54 pm Post subject: |
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12:45 swing low is 5113.30, if the current bar (12:55) closes below it, that will be a reversal short trigger.
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Srikanth Kurdukar
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #345 Posted: Wed Sep 07, 2011 12:54 pm Post subject: |
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| thanks. yes, I was talking about live charts basis.
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