iCharts Discussions

neemtree · White Belt Joined: 20 Feb 2009 Posts: 43

Hi ST,

Its very good trading strategy. But the problem here is, this works only in trending market. Either it could be up trend / down trend. But in complete side ways market, i am not sure if this works as there will not be any trend and no cross overs happen.

I have 2 questions on this trade:

1. can you exactly point out (if possible with some chart) where to put stop loss.
2. At what point of time to book profit.

Thanks,
Srinivas

SwingTrader · Posted: Sun Jun 14, 2009 8:49 am Post subject:

kommacnu,

The new strategy I have posted works with sideways market - that is the only reason why I have posted this strategy. You have not understood the strategy correctly, MOVING AVERAGE CROSSOVERS ARE NOT REQUIRED FOR TRADE INITIATION. Please go through last 2-3 days' "followups" I have posted in the levels posts for examples. I have clearly specified the stops also (though not marked on the chart).

In any case, I will be posting these charts on a daily basis. So once we get a sideways day, you will get your example.

Profit booking is to be addressed, I will do it in the next few days once I get time. Stay tuned.

SwingTrader · Posted: Mon Jun 15, 2009 12:37 pm Post subject:

kommacnu,

CLARIFICATION: When I say the new strategy works with sideways market, I mean keeps a trader out of the whipsaws in sideways market (that is the idea of using the EMA filters). I am not trying to create a system to trade the sideways market. The focus of my system is to capture trends only.

Again...EMA crossovers are not required, EMAs are used for two things only - to determine the direction in which to initiate trades, second - to identify confluences of levels & EMAs where one can get into the trade early (before EMAs announce the change of trend).

Please go through the examples of last 2-3 days so you get some idea about it. I will keep posting examples everyday so please post your comments. Thanks.

pipstocks · White Belt Joined: 02 Jan 2009 Posts: 29

Respected ST sir,

Many thanks to start this informative thread using ema and levels . This strategy is much helpful for the new comers like me.
You are sincerely requested to guide how to use ema and levels on gap up/down opening days like today.
You also highlight the exact method to decide profit locking point.
Thanks again for such a humble job.

sandew · White Belt Joined: 02 Feb 2009 Posts: 174

Dear ST,

Can we have an indicator which shows up as a HISTOGRAM giving absolute price difference between the current price (close, 5 minute bar) and the corresponding 34 ema.

If yes, then please allow flexibiity in selecting parameter usage, say for example between 30 dsma and eod nifty, and so on.

Thanks
Sandew

SwingTrader · Posted: Thu Jun 18, 2009 9:19 pm Post subject:

Scalper · White Belt Joined: 08 May 2009 Posts: 1

Hello sir,

Please explain the Fibonacci Retracements. how to use the indicator , when to Buy and When to Sell and i see some levels 26% 38% 61.8%
what does it mean. please explain in detail sir.

Regards
Scalper

SwingTrader

dharmeshtr · White Belt Joined: 10 Feb 2011 Posts: 205

ST,

Why 5 mins TF is to be taken for consideration for this strategy to stay away from whipsaws? Why not 15 mins TF? Why not 30 mins TF?

Mkt may change the trend after 2 hours as well?

What is ideal Stop Loss for this strategy?

Thanks,
dtr