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Simple Technique for Intraday Trading

 
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Author Simple Technique for Intraday Trading
ajeya12
White Belt
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Joined: 30 Oct 2011
Posts: 132

Post: #1   PostPosted: Sun Jan 15, 2012 6:13 pm    Post subject: Simple Technique for Intraday Trading Reply with quote

HELLO TRADERS N MY FELLO ICHARTIANS,
Dear traders,people love to make profits on intraday and try out diffrent strategies but fail to make profits.Here is one simple technique to make profits.
This technique will be more helpful for beginers.very simple to understand.In the 1st chart ,explanation is given.The2ND chart is for refrence. Read point wise and FOLLOW PROPERLY to make profits.
Same technique is used in diffrent timeframe for 1-2 days positional.this is purely intraday charts of 3min tf.make profits n ENJOY .

IMP NOTE --- D'not loose ur patience and decipline while trading
D'not trade with out the stoploss
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RKM
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Joined: 06 Apr 2009
Posts: 137

Post: #2   PostPosted: Mon Jan 16, 2012 7:37 pm    Post subject: Ajeya's techinque for intraday trading Reply with quote

Hi!

Interesting strategy, but there appear to be more clear cut signals on your upper chart. ie. on the 12th Jan than on the other one you have posted.

A few points are not clear :

1. What is the role of the EMA15 and the BB9?
2. How have you drawn the Res Levels 1,2 and 3 in your chart?
3. What would you do on a day like today when first the market went lower though the RSI was rising slowly, and later although the RSI moved downwards from 70 levels at 12.45pm and 2.45pm, both times the market went down about 20 points but recovered sharply the RSI continuing to show an upward trend?

RKM
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pkholla
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Joined: 04 Nov 2010
Posts: 2890

Post: #3   PostPosted: Mon Jan 16, 2012 9:46 pm    Post subject: Reply with quote

Ajeya: In addition to RKM's points may I point out one more: the Bollinger Band doesnt seem to work so well for down movement which follows up movement ie the BB curves lazily down a long time after the actual chart has turned. (The co relation to up move is quite sharp). How do we overcome this "defect"?
Regards, Prakash Holla
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