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MTT System Discussion - Sep 2011 |
nsk1371
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Post: #376  Posted: Thu Sep 08, 2011 11:09 am Post subject: |
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| at 11.00 bar .. v had two conditions for short trigger ( ema cross over and close blw both mov . averages).. but v did not close below the previous swing low of 5116.40... so now any close blw 5116 ( 11.00 bar) wil b a short trigger.. untill then v r in reversal long with sl of 5114
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sambhaji_t
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| Post: #377 Posted: Thu Sep 08, 2011 11:29 am Post subject: |
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| nsk1371 wrote: | | if this long reversal trade gets negated this wud automaticaly trigger short |
I think on LTF close below 5090
long reversal trade gets negated this wud automaticaly trigger short
9.35 candle low
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nsk1371
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| Post: #378 Posted: Thu Sep 08, 2011 11:35 am Post subject: no |
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| sambhaji_t wrote: | | nsk1371 wrote: | | if this long reversal trade gets negated this wud automaticaly trigger short |
I think on LTF close below 5090
long reversal trade gets negated this wud automaticaly trigger short
9.35 candle low |
sir, after 9.35 v had 10.10swing low (5105.05) and then 10.50 low ( 5116.40). in 11.30 bar went blw the 10.50 low but still did not close.. now 5112.55 (11.30 bar low ) wil b the new swing low..
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nsk1371
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| Post: #379 Posted: Thu Sep 08, 2011 11:40 am Post subject: unfortunate |
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| i got stopped out. as my sl was @ 5113. but the bar did not close blw the swing low.. so short did not trigger.. so as per system the stop is now a close blw 5110.. and then short wil get initiated
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nsk1371
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| Post: #380 Posted: Thu Sep 08, 2011 11:57 am Post subject: short initiated |
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| reversal long negated and auto trigger of short is on now. with sl of 5133.40
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nsk1371
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| Post: #381 Posted: Thu Sep 08, 2011 12:09 pm Post subject: regular short set up formed |
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| in htf. 12 bar regular short set up has formed..
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SwingTrader
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Joined: 11 Aug 2006
Posts: 2903
Location: Hyderabad, India
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| Post: #382 Posted: Thu Sep 08, 2011 2:04 pm Post subject: |
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Wow! what a move....I hope everyone got out of the short on time as per the TSL. Missing the up move is fine, does not matter but getting out of a trade gone wrong quickly is important.
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Srikanth Kurdukar
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nsk1371
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| Post: #383 Posted: Thu Sep 08, 2011 2:06 pm Post subject: st sir tnx, |
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| s. i got out of short @ 5123 @ 12.50 bar itself and then did not enter..as had 3 trades whipsaw
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anantha
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Joined: 18 Feb 2011
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| Post: #384 Posted: Thu Sep 08, 2011 7:36 pm Post subject: |
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| try to use 34ema and 15/5 dma in 5m give good result
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SwingTrader
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Location: Hyderabad, India
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| Post: #385 Posted: Thu Sep 08, 2011 9:09 pm Post subject: |
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| anantha wrote: | | try to use 34ema and 15/5 dma in 5m give good result |
 How well have you tested this? The settings I am using are a result of rigorous testing and I see no reason to change them. Did you suggest this just because of one difficult day? I have seen many such days and with any settings we can think of, such days are unavoidable with any system on the planet. Such days just exist and they just have to be managed properly. I am perfectly comfortable with today's trades.
But thanks for your suggestion.
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Srikanth Kurdukar
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SwingTrader
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Location: Hyderabad, India
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| Post: #386 Posted: Thu Sep 08, 2011 9:40 pm Post subject: MTT - NF - 08092011 |
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Difficult day? you bet!!! But I like to trade on days like these as I learn a lot on such days. The two very good trending days we had recently were no fun, anyone can trade those. How you manage days like today make you a good/bad trader. Trading a day like this, you learn more about trading (and yourself) than maybe trading 10 trending days.
A. Since there was no gap opening this trade is okay to take, else I would not take it. 1st bar gave a regular short signal when CCI closed below 0 (it had hit +100 at the end of previous day). ISL was 2 pts above the opening bar.
B. STS on HTF had got OS but since we were short, we had to wait for a break of swing high for getting into a reversal long trade. This happened right at the top of the move on 10:25 bar. We exit short and enter long. ISL 2 pts below 10:10 bar low.
*** I am wondering if trade B should have been taken or not....STS on HTF had already got OB by the time this trade got triggered. This is one point I need to test....noting it down.
C. 11:30 swing low got broken negating the reversal long and triggering a short automatically. ISL was 2 pts above 11:40 bar high.
D. Later TSL for trade C was revised down to 2 pts above 12:50 swing high. This got broken on close of 13:50 bar. Now comes the difficulty. STS on HTF had nearly got OS....but did not exactly hit 30. I many times consider it oversold enough, especially when price is reversing on LTF from a key level or moving average. In this case it reversed from 89 EMA on LTF / 34 EMA on HTF. Price was also reversing since 12:00 from the BEAR level.
But let us assume that we have not taken trade D as none of this has been discussed by us earlier. We will do this discussion later.
Refinements are necessary. I have not traded this system totally mechanically like we are discussing. For understanding the system signals trading this way is fine but your own judgement and taking inputs at least from some sort of levels or support/resistance analysis is necessary as it helps during such difficult days. On trending days you need levels to grab profits at higher levels so as to not give away valuable profits.
Anyway....more later....
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Srikanth Kurdukar
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nsk1371
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| Post: #387 Posted: Fri Sep 09, 2011 9:42 am Post subject: regular short set up formed |
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| regular short set up formed in htf.9.30 bar.. entry trigger in ltf awaited..
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SwingTrader
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| Post: #388 Posted: Fri Sep 09, 2011 9:50 am Post subject: |
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09:45 bar close triggered regular short trade. ISL is 2 pts above 5153.80 (9:35 bar swing high).
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Srikanth Kurdukar
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nsk1371
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| Post: #389 Posted: Fri Sep 09, 2011 9:51 am Post subject: regular short |
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st sir,
netry tirgger got on 9.45 ltf bar.. but already sts in htf is 38 almost over sold.. v shd b cautious abt the entry... and sl..?
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SwingTrader
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Posts: 2903
Location: Hyderabad, India
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| Post: #390 Posted: Fri Sep 09, 2011 10:02 am Post subject: Re: regular short |
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| nsk1371 wrote: | st sir,
netry tirgger got on 9.45 ltf bar.. but already sts in htf is 38 almost over sold.. v shd b cautious abt the entry... and sl..? |
It certainly is a slightly risky trade as 34 EMA on HTF and 89 EMA on LTF also are just below. But trade has to be taken because moving averages can break and STS can just get more and more oversold. We never know....
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Srikanth Kurdukar
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