tradeing with Trend

On the same day (26.11.2012) itself it was bullish in day chart and weekly chart, then why did u wait until 18.12.2012?

i am trader form chennai, i will be doing trading for last 3 years, i like share my trading Strategies with u all

1 rule, analyze the market in weekly chart
2rule,then come to day chat and analyze it
if the weekly chart up, and day chart also give a up signal .just buy the share with the stop loss of resent low
if the weekly chart is down ,and day chart also give u down signal .short sell the share (in f&o)with stop loss of resent high
ex

in wipro weekly chart buy signal came in 26.11.12

(i will use 26ema for signal line
if price go above the 26ema its bullish confirmation
if price go below the 26ema its bearish confirmation
i also use stochastic for overbought over sold levels )

then come to day chart

it will give me a buy signal at 18.12.12
so i bought wipro at 378 with stop loss of 366 (resent low)with a target of
400
(in day chart
i will use 25ema for a signal line
if price go above the 25ema its bullish confirmation
if price go below the 25ema its bearish confirmation
i also use stochastic for overbought over sold levels(5,15,5)

i will be following this strategy for 1 year
its gives me 143% return for that year

friends i want u do a back test it ,and try it
happy trading
(i will continue my post)

@muthutrader

The method has two major strengths:

1) It is simple, hence no confusion in execution.
2) Very logical. If higher time frame is in support, the lower time frame will mostly follow.

Sufficient attention is paid to entries, now you will have to give proper definition to exits also. For a few reasons:

1) In such a method, several scrips give the same signal in same week. Due to MM, all cannot be taken. Therefore, your definition of exits will help you sieve.

2) The method gives some really big moves. Therefore, use trailing stops for exits and use a good scaling out method. Simply exiting at round figures will undermine performance.

Hi Muthutrader,
This strategy seems to be pretty good....simple but powerful. Thnx for sharing the same. Shall try it out and share my findings.

Hi Jamit 05,
Can you elaborate on how the 2 points mentioned by you can be merged with muthutrader's strategy.

Hi muthutrader,
Good trading strategy...But could u please let us know what Support/Resistance level u are taking..Is it monthly/weekly/daily?