iCharts Discussions

[Peter Sturrock]

Manoj

It is nearly a month since I started posting live the trades we take per the system built. And I notice that you are the only one who has been following it daily.

The system has had all winning days except one day when we got whipsawed royally.

Have you kept track of the performance and if so how much one would have made following the system blindly?

I have made more than 50 points per day on an average.


Cheers

PS

[amitagg]

Hello Peter...I would trade your system from Monday though I was following it as it some others last few weeks....hope u would guide intraday though its mechanical enough as it should be ...

Thanks, it would be great to learn from your experience.

Since I can take leverage positions (but would avoid in beginning), all I want is I should start with say 200 qnt and square off 25 percent each level with SL as u define (3 levels below) OR cost for safety...or some other multiple quantity...I don't want to start with insufficient quanity wherein I book out at some early level withjout exploiting the move...also I understand there is no hard rule and for qnty decision onces risk appetite etc should be considered...just a guidance to what reasonable qny I should start with (give multiple of 50) (I guess pyramding is not for your pattern)

[Peter Sturrock]

amitagg

200 is a good qty to start with ...

Book your first 25% at 20 points...

I book 50% when it crosses three levels from my buy level and hold the remaining till SAR is hit.

With regard to adding more qty yes I do it.

Once a buy or sell is triggered then I wait for two levels to cross. Then I wait and take additional position at middle level (plus 3 to 5 points) . This way my stop and reverse also will be only 12 to 15 points for the fresh trade. For example on Friday at 11:18 Nifty made high of 6175.25 and our level was 6176,21. On Odin Nifty crossed 6176.21 but on the 1 minute line chart it did not cross. Hence our SAR remained at 6136.67 with add more level at 6149.85. So I waited for it to come down to 6149.85 plus 3 to 5 points to take a fresh position or add more to my qty.At 12:20 Nifty made low of 6153.20 on one minute chart . I took entry at 6155 and exited this qty at end of day. I have attached the one minute chart and the cursor is at the time mentioned above for your reference.


I have informed earlier and once again reiterating one important rule to follow is that take entry only on one minute candle closing and not when a level is crossed. Even for your calculation of SAR the next level has to close for it to be valid. Merely crossing that level will not suffice.

I use 1 minute line chart to trade. I take positions only when Nifty has crossed three levels on one minute chart.
The secret of success is to ensure we follow the One minute line chart to take position, to decide SAR etc.

Cheers

PS

[manojkr78]

peter,

thanks for the levels....i have been following your levels for almost a month.....make 20 points minimum everyday guarantee following your levels blindly.....i am still in learning phase.

some times when the levels are between buy and sell on a sideways day i have traded contra to your trades posted....this is may be i change my SAR when the next level is crossed dont wait till it closes above that level.....

you take a trade at opening itself based on your experience with your system.....i usually dont, wait till buy or sell crosses or take a trade seeing your post during market hours....

thanks
manoj

[amitagg]

Thanks Peter for the explicit response...we owe it to you...lets hope we understand the system better as we trade becuase that is the real thing and test - not of the sytem but our trading mindset etc.

[ndpotade]

Thanks....

[Peter Sturrock]

Booked 20 points

Cheers

PS

[Peter Sturrock]

SAR 6197

PS

[Peter Sturrock]

NF giving another chance to enter or add more qty

Cheers

PS

[manojkr78]

did 1 min candle closed below 6197.72?? our SAR triggered??

[vinay28]

[Peter Sturrock]

NF SAR triggered at 6197 added more at 6210

SAr for shorts at 6224.25

PS

[vinay28]

today is a day of whipsaws, I feel

[Peter Sturrock]

SAR hit.....

No more trades for the day.

PS

[manojkr78]

peter,

levels for tomm plz....