iCharts Discussions

[Rahulsharmaat]

Silver--

Silver i have personally traded almost 10 months now in 55 SMA band

High, 55
Close,55
Low,55

TF is 15 min

trade to be taken when 15 min candle closes above 55 sms High, wait for next candle,, if it dosent touches or breaks 55 sms close,, take long position after close of this candle,, Book at 300---500--750--1000 points if traded multiple lots.
Exit when candle closes below 55 sma low...

Now for short position-- one 15 min candle has to close below 55 sma low.. Next 15 min candle should not touch or cross 55 sma close..--3rd candle short-- book same way

thanks to all

[rwdesai]

Rahul, nice work. Just one doubt. How do handle consolidations? For example see the chart attached. How did you handled this?Chart is Silver mini 15 min time frame.

[Rahulsharmaat]

in this chart-- short -- and then it got exit-- No long as next candle went below 55 Close-- again short-- got exit

i trade all calls

[akxsat]

Dear Rahul,

Thanks for the system.. it is an excellent method,

I am back testing ur system, I want few clarifications...
I am attaching last week silver trades, where i am getting confused...
see the circles..
pls revert to asap....


sat

[Rahulsharmaat]

I can see only 2 lines-- where is the 3rd one >?????

so set it properly

15 min TF
55 sma-- High, Close, Low

now what u have to do is--in first circle candle closed above blue line-- wait for next candle- and at opening of 3rd candle buy---after that u must have booked it as i can see some good upside there so position over

2nd candle Short active in 2nd candle opening in Circle-- which u have to exit on crossing blue line again-- so loss

again long --

but complete the 3 sma first n post

[Rahulsharmaat]

this 1500 point is in consolidation only-- else it use to get almost 3500 plus points-- so dont worry

[akxsat]

[Rahulsharmaat]

now thats the problem

I know it will come in middle-- but thats needed--thats the most important thing

so set 3 of them and then post chart

[Rahulsharmaat]

never trade without 55 sma close

[rwdesai]

Rahulbhai, Please see the following chart. Is the right hand corner flashing a valid buy signal ( if I am properly getting your system)? Thanks.

[Rahulsharmaat]

1} Buy At 56100-- bookes loss at 56000---
No short as 2nd candle crossed 55 sms close

2} Long again at 56270--went to 57200-- which is almost 1100 points-
so if u trading in 2 lots-- Book 1st at 500 and 2nd above 900,, and u can TSL below 900 for further gains-- in case it reverse before 900 points TSLbelow 500 points

so longs booked and average gain was 700 points per lot

Now no position-- wait for next trade

2} Short came at 56600-- because earlier short was not valid as touched 55 sms close--went to 55500-- again 11 points -- u booked as mentioned above-- again again 700 points per lot in average

no position in hand now

3} Long came around 56100 now---

thats it

so gain is 1200 point per lot in case 2 lots are traded--

[akxsat]

thanks dude

[sonila]

Rahul,plz post the updates atleast for a few days,thanx.

[sethu45]

How to set this 55 sma in the charts. I found one chart in this thread having 2 sma lines. How many sma line has to be set? Is it applicable only intraday or can it be followed for EOD also. Please clarify.

sethuraman

[Rahulsharmaat]

you can set it on Live charts { commodity } on i charts

55 sms , high
55 sms, close
55 sms, low

sonila, i dont have charts, as due to liquidity problem i am not trading as , to get a good return i need to trade in atleast 60 to 90 kg silver at a time-- so right now not trading-- may start in next 3-4 months