iCharts Discussions

forexmoney · Yellow Belt Joined: 19 Oct 2011 Posts: 851

hi sonila,sell timings 10.33,covered timings 10.36
one thing more there is no need to cross check,read the strategy ,and trust it....trading is a art,feel it with six sense.....thanx to parray

vishalkale · White Belt Joined: 29 Jun 2010 Posts: 4

Hello to All,

i have gone through the thread in detail. Below is my understanding of the same

1) Use a 45 SMA and 3 DMA
2) Initiate longs when DMA CO SMA and initiate short when DMA CD SMA. Use the same principle for booking.

The choice of TF will depend on range of market of market during the first 15 mins.

Firstly, if in the morning there is CO or CD, then we take the position based on previous day's CO or CD.
Query: IF there is a huge gap down/ gap up( i.e in excess of 50 points ), do we still take the trade???

Secondly, when we do have a CD/CO during the day, as i understand we need to wait for 3 candles for the CD/CO to be confirmed. Now the trade should be initiated here.
Query: The entry price should be the price on the fourth candle or the price when the CO/CD occurred?? Also even for covering the position, do we have to wait for three candles to confirm the exit.???

And one last thing, the profits which are mentioned in the posts are based on the actual entry and exit points or based on the prices of candles on CD/CO's...

Also is there is anything that I've missed in the system or some more points needs to be added to this.

Request the members to kindly clarify the above queries. Pardon me if I am repeating the questions here. But, I have gone through the thread and these are the queries which are still un answered....

Regards
Vishal

Pradeep247 · White Belt Joined: 19 Jan 2009 Posts: 24

Hi, I am new to this forum, I regularly watching parray's stratergy for the past 20 days, It's nice. Parray Sir, please tell me what is your brokerage company. I want to open the low brokerage account.

forexmoney · Yellow Belt Joined: 19 Oct 2011 Posts: 851

hi bot at 5035 as per 4 min tf,pls confirm

sonila · Brown Belt Joined: 04 Jun 2009 Posts: 1786

bought @ 5034 @ 12.12pm.

Monita · White Belt Joined: 09 Jul 2011 Posts: 10

Since first 15 min was not engulfing, the TF should be 3 min.....r u using 3 min or 4 min ? if 4 min...can you explain why ? thanks again...i am new so all these questions

parray · White Belt Joined: 04 Oct 2010 Posts: 102

forexmoney · Yellow Belt Joined: 19 Oct 2011 Posts: 851

parray sir,it has crossed fr buying,but r u askin about 4 candles conf...?

prabit · White Belt Joined: 02 Jul 2009 Posts: 133

Dear Sonila, have you stopped trading with parabolic sar?

sonila · Brown Belt Joined: 04 Jun 2009 Posts: 1786

prabit, no i m continuing with psar. and 20ema

forexmoney · Yellow Belt Joined: 19 Oct 2011 Posts: 851

booked at 5055

Monita · White Belt Joined: 09 Jul 2011 Posts: 10

Hi Forex, what would be the re entry strategy if there is no cross over ? would be grateful if you can answer, thanks

forexmoney · Yellow Belt Joined: 19 Oct 2011 Posts: 851

hi monita,just follow the crossover....

forexmoney · Yellow Belt Joined: 19 Oct 2011 Posts: 851

booked bal qnty at 5070,35 points....strategy pe chalo....

Monita · White Belt Joined: 09 Jul 2011 Posts: 10

Parry Sir or any seniour member, please answer two questions :

1. For SL (just like entry) do we wait for 4 bars close or on just crossover? I am specifically asking this question as sometimes 4 bars close may result in large losses when there are fast moves ?

2. It is 4 bars close rule or Minutes that is important for eg 4 bars in 2 min = 8 min while in 4 min = 16 min or as explained by you in one of the post it remains same 3*4 = 12 min ?

I might be off track or you may have asnwered earlier but I am unable to understand and thus this request again.

Thanks