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Swing Trading : The Speculator way |
Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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Post: #466  Posted: Thu Apr 14, 2011 7:09 pm Post subject: 5TF Trading! |
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Prabit,
Hellow! Tks ...... I was trading NIFTY & commo, but time is the big prob to me to continue commo, so after backtesting few stocks ,i selected 5 stocks for intra using his system@5TF. Axis, Sbin,Tatasteel,tatamotors,Reliance newly started Educomp. Usually i dont get signals daily in all stocks..... But yesterday was   This 5Tf trades are only for intra trades & results are so good!!!!!!!
Regards,
Jai
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #467 Posted: Thu Apr 14, 2011 7:20 pm Post subject: 5TF Pivot |
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Y'day we got a nice contra trade which Jai has already posted in forum
JJM,
Hello friend......sorry my trade wasnt contra, i dont trade contra even for intra trades. I track all pivots 5,15, &60 TFs . 5825.95 was the Valid Dwnpivt in 5TF , so i enterd long when it crosd.5TF trades are only intraday trades.
Regards,
Jai
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vvsp
White Belt
Joined: 10 Nov 2010
Posts: 62
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| Post: #468 Posted: Thu Apr 14, 2011 8:52 pm Post subject: |
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| jjm wrote: | Dear Prabit,
Taking liberty of replying to your question on behalf of Mr. shekhar, which I feel is a way of confirmation of my understanding of system 
we are in down trend with Dow swing pivot 5971. unless it is taken out will not be in up trend hence..
Entry pts for taking trade based on SSPS ( Speculator's Swing Pivot System)
A :1 if opposite swig pivot is taken out then wait for rejection.Once price retraces back to 34 ema..watch for valid rejection and take a trade
2.Look for candle to close below 34 ema .
3.there is -ve cross overs of emas (as per system for 15 tf 8 ema crossed 34 ema from top so - ve crossover )
4. Last candle closed below low of prior candle ..
Hence shekar has taken a trade in 2 min tf in direction of trade.. he waited for price to get rejected from 34 ema..
Here earlier Up swing pivot was taken out which was 5871.75
2. Prior opposite swing pivot is not taken out still if one wants to do trade in direction of trade..( we can call these as Contra trade )the rules are same & keep it simple
Y'day we got a nice contra trade which Jai has already posted in forum if price takes out 5971 we can say we are in up trend ..
Tomorrow we have to options
1. if pivot does not break then do trade in direction of trade. which is still down..wait for candle to close below 34 ema and below low of prior candle also watch for - ve crossovers of emas 8<34..
2. if pivot breaks wait for valid rejection and take a trade..or
3.Wait for valid entry for a contra trade like y'day and prey that it will break DSP 5971 so we can convert it into swing trade..
It is once perception whether he/she wants to trade only in dir of trend or wants to use system optimal way by using it for contra as well
Regards,
JJM |
Dear JJM,
The point A:3 highlighted in bold is not a prerequisite to enter trade as per the system. The relevant part from Spec's post on 18-Jan-11 is reproduced below:
For a Bullish rejection, the stock/index is trading above the 34 ema, comes down either close to the 34 ema or touches the 34 ema or undershoots the 34 ema and reverses. For the rejection candle (trade entry candle) , the following rules must be satisfied:
1) Candle close should be above 34 ema
2) Candle close should be above the high of the prior candle.
3) Candle close should be above the 8 EMA
I added the rule #3 as a refinement (or filter) to avoid taking weak rejections. If 1) and 2) are satisifed and 3) is not satisfied, then it means the correction is still in progress.
For a Bearish rejection, the stock/index is trading below the 34 ema, comes up either close to the 34 ema or touches the 34 ema or overshoots the 34 ema and reverses. For the rejection candle (trade entry candle) , the following rules must be satisfied:
1) Candle close should be below 34 ema
2) Candle close should be below the low of the prior candle.
3) Candle close should be below the 8 EMA
Thanks,
Prabhakar.
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #469 Posted: Fri Apr 15, 2011 8:20 am Post subject: |
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There seems to be lots of discussion on Intraday trades.
Posted below is the chart of April 13. All self explanatory.
I try to keep it as simple as possible. Entry above swing pivot first TGt 20 point. Book some more as new highs are formed Carry the rest with SL at swing pivots as and when they forms.
Just don't be greedy you won't get 100+ point move every day. Stick to game plan and get 20 - 40 points every day.
SHEKHAR
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Last edited by shekharinvest on Fri Apr 15, 2011 8:28 am; edited 1 time in total |
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Speculator
Expert
Joined: 15 Apr 2008
Posts: 149
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| Post: #470 Posted: Fri Apr 15, 2011 8:23 am Post subject: Swing pivots - April 15 |
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Nifty:
That was a massive reversal on NF on Wednesday. But still it was not good enough to break the pivot and change the trend. It's these kind of rogue moves against the trend that highlights the importance of having trailing stop losses. Those with a TSL would have still walked away with 90 points profits on the shorts from the prior 15-min rejection. Those without TSL would be sitting in deep MTM losses. Just wanted to highlight the importance of TSL.
15-min: Downtrending, Downswing Pivot 5971
30-min: Downtrending, Downswing Pivot 5971
Copper:
30-min: Downtrending, Downswing Pivot 432.3
- Speculator
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kanna
White Belt
Joined: 03 Jan 2010
Posts: 91
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #472 Posted: Fri Apr 15, 2011 5:45 pm Post subject: Re: 5TF Trading! |
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| Jai2000 wrote: | Prabit,
Hellow! Tks ...... I was trading NIFTY & commo, but time is the big prob to me to continue commo, so after backtesting few stocks ,i selected 5 stocks for intra using his system@5TF. Axis, Sbin,Tatasteel,tatamotors,Reliance newly started Educomp. Usually i dont get signals daily in all stocks..... But yesterday was This 5Tf trades are only for intra trades & results are so good!!!!!!!
Regards,
Jai |
GREAT GOING BROTHER !!! 
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #473 Posted: Fri Apr 15, 2011 6:26 pm Post subject: |
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Hi,
Today on 15-Apr, I could not find entry on nifty 5min TF. Picture is attached. Can someone pls mark first entry?
regards
vin
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vvsp
White Belt
Joined: 10 Nov 2010
Posts: 62
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| Post: #474 Posted: Fri Apr 15, 2011 7:21 pm Post subject: |
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Hello vinst,
I think you are correct, there is no entry in 5 tf.
NF is in down trend in 15 min tf. I was waiting for short entry in 15 min tf. When the price touched 34 ema, I switched to lower tf and looking for entry. Both 5 tf and 10 tf gave bearish rejection in 10:00 candle. Entered short position there. Valid rejection in 15 min tf happened in 12:00 candle. Now, I have converted the trade to swing trade. Else, I would have closed it intraday.
Prabhakar.
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #475 Posted: Fri Apr 15, 2011 9:19 pm Post subject: Nifty-5Tf Rejection |
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Vinst,
I marked today's NF 5TF rej.
Regards,
Jai
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Jai2000
White Belt
Joined: 09 Aug 2010
Posts: 346
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| Post: #476 Posted: Fri Apr 15, 2011 9:39 pm Post subject: 34 Ema / RSI 5 |
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Kanna,
Sorry for interfere......usually in this kind of confusion( price closer to 34ema but not touching) i use his RSI 5 -OB OS signals.For ex I attach 2 recent charts. Both reliance & Educomp didnt touch 34 ema, but RSI 5 OB & price made new Low, so we may consider that recent high as a valid Pivot.It just my observation.........me too waiting for Spec sir's answer. Tks!
Regards,
Jai
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vinst
Black Belt
Joined: 09 Jan 2007
Posts: 3303
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| Post: #477 Posted: Fri Apr 15, 2011 10:10 pm Post subject: Re: Nifty-5Tf Rejection |
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| Jai2000 wrote: | Vinst,
I marked today's NF 5TF rej.
Regards,
Jai |
Hello Jai,
I see that you have used RSI5 OB signal to recognize NF peak near 34ema on 5TF.
I was almost always ignoring rsi signal except for profit booking,
thanks a lot
vin
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shekharinvest
Yellow Belt
Joined: 21 Dec 2007
Posts: 549
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| Post: #478 Posted: Sat Apr 16, 2011 8:02 am Post subject: |
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Hi,
After a big move, yesterday offered a bit iffy kind of move, although a large one.
Total of three trades one long and two short. Ended the day in little red.
Chart is attached.
SHEKHAR
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Speculator
Expert
Joined: 15 Apr 2008
Posts: 149
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| Post: #479 Posted: Sat Apr 16, 2011 10:07 am Post subject: |
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15-min: Downtrending, Downswing Pivot 5971
30-min: Downtrending, Downswing Pivot 5971
Spec,
Why cant we consider 5884.55 as Downswing pivot, which is on 11.45 candle on 8th April. it is very close to 34 ema in 15min charts. (Missed 34 ema by just 4 pts). I thought that is a pivot and if we consider that as a pivot , now we have broken downswing and we are in upswing with pivot at 5753. pls confirm when u are free
Kanna,
When in doubt, consult Dr RSI(5).
I do not like to bring RSI(5) into discussion as it confuses the newbies in most cases.
When we get a proper touch of the EMA, then without any ambiguity we can say that it was a clear rejection.
When we come close, but not touch the ema, then it's very "iffy". One cannot say with certainity whether it was a true rejection or not. In those cases check the RSI(5). If the rejection failed to touch the 34 ema (but came close to it), but came from a RSI OB/OS mode, then it can be qualified as a valid rejection. Otherwise, ignore it.
In the current case, which we are discussing neither did we touch the 34 ema nor did we reject from a RSI(5) OB on 15-min. So i would not call that a valid rejection.
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sathya999
White Belt
Joined: 08 Apr 2008
Posts: 35
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| Post: #480 Posted: Sat Apr 16, 2011 2:56 pm Post subject: |
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Geez (that is the expression to convey Glee used in some books) thanks Kanna for asking
and Spec for answering.
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pls confirm when u are free![jcharts[1].PNG](files/thumbs/t_jcharts1_711.png)