Intraday Profit / Loss MGM

My MGM Method

  • Getting/Lossing 50% on my trading capital . I am DONE

    Votes: 0 0.0%

  • Total voters
    15
  • Poll closed .

wabuf

Well-Known Member
#51
classic support , resistance & trendlines .
 

wabuf

Well-Known Member
#52
HI ,

I use 5min TF for trading . Have been using it for 2 years , now I am seeing that in 1min TF , i may enter a stock more precisely (i mean very very precisely) .... but then my exit signals will also be quick . i.e less profit - but sure profit .
>> In 5min TF , I have a problem of patience of holding it , and I exit prematurely..(even if making a small loss .. but then it goes my directiion afterwards) . In 1 min TF , in paper trading , I enter and its down within 3-5 mins and i am out . while it takes 5mins for 1 candle in upper TF.

>> exiting prematurely in 5min and trading in 1min indicating i am a scalper ?

should I start scalping ? .. many a times in LIVE trading i have switched time-frames back and forth ... leading to frustration..

1. Drawbacks of 1min would be ????
2. Scalping advice in 1 MIN TF ???
Need Help guys ..

Thanks :)
 

rjshem

Well-Known Member
#53
u can enter in 1 min and trail sl on 5 mins think subhadip used to do it also.about ur premature exit I had given a simple solution looks u have not followed it for long. one more simple solution is check all ur winning trades and calculate avg x if held till proper exit(x=reward in terms of risk).if u get a avg x as 1.5 or 2 or 3 or 4 try to keep this as target (ie if ur avg x is 3 then u get a trade with 2rs as stoploss u need to keep target at 6rs)in all ur further trades do this atleast for 10 to 15 trades and see.i think this is a good solution to ur problem of premature exit my view.wether scalper or not u need to keep ur winning trades return higher than loss trades to make consistent profit as simple as that.hope this helps and all the best keep going.ull overcome ur obstacles with time.
 

wabuf

Well-Known Member
#54
....(ie if ur avg x is 3 then u get a trade with 2rs as stoploss u need to keep target at 6rs)in all ur further trades do this atleast for 10 to 15 trades and see.i think this is a good solution to ur problem of premature exit my view.wether scalper or not u need to keep ur winning trades return higher than loss trades to make consistent profit as simple as that.hope this helps and all the best keep going.ull overcome ur obstacles with time....
Thanks Rjshem Sir ..

I do follow 1:2 RR (5min).. I do exit now @ 2 pts profit ,, sometimes i dont exit if its like a windfall profit and wait for reversal..

Q : what would you do If the pos. goes in your favour (not reaching RiskReward point).. and then suddenly .. it turns -ve .. ?? do you exit @ the point where you enter or exit before the stoploss is hit ??
...........................
I will try scalping tomorrow in 1MIn TF and will try to post timing n profit if it goes well :D .... .


Thanks
 

wabuf

Well-Known Member
#55


Rjshem .. If suppose I enter A . whats the best point to exit when scalping ?
 

rjshem

Well-Known Member
#56
if I am scalper and decide ill exit my trades at 2x .then once I get an entry ill place my sl target at 2x place alert and watch other chart for entry . either trade will hit sl or 2x target do same forall trades.
2x was given as a quick fix solution for u . u can keep 3x and above as target depending on avg x ur system gives per trade.
if I enter at point a ill wait either hit my initial sl or target at 2x.
thers another way of doing it too if ur target is 2x once price reaches 1x u can move sl to breakeven.if target is 3x then once price reaches 2x move sl to breakeven. whateverway u decide u have to follow same for all trades.
 
#57
Hello Wabuj ji,

You have same problem that every trades has in his/her career.

You don't need to worry . Just be disciplined with your trades. If you doing two or three trades in a days then its too good ..

Every trade will not make money. Just manage you Risk to Reward ratio. Go with tight stop loss.

hope you have back tested your strategy.

Please use broker which charges you low brokerage .Don't pay advance brokerage because they are of no use.

Best wishes
 

wabuf

Well-Known Member
#60
Hi traderji members ..

Happy diwali to all ...

update 1 : won my first 60day challenge ..awaiting certificate
update 2 : moved from support-resis to moving avg .. with supp/resis theory in mind..
update 3 : RR changed from 1:2 to 1:∞ . getting out when i feel its correct to get out . volume is increased ∴ still making profit & not breakeven
update 4 : hit rate 6/10 . working to make it 7/10 .


happy trading !!!!