Intraday Scalping in Mcdowell-N

[gkpc]

1st Trade taken on the basis of a red arrow on previous days closing bar and a green one on opening , above the high plus filter.
Yellow candles are IDNR4.

 

[ambarish123]

1pts=500rs
44X500=22k in one day......not bad,but the key is if this is possible throughout the month,.......hope u post daily.......and do pls post chrts

 

[gkpc]

1pts=500rs
44X500=22k in one day......not bad,but the key is if this is possible throughout the month,.......hope u post daily.......and do pls post chrts

No it does not happen daily and also not so smoothly as it went today. But there are quiet a few days like today also. No 5 day trades together have ever shown a negative result since July 2012 !

I shall try to post daily but posting charts daily would be a hassel. Will try though to do it EOD !

 

[gkpc]

Mcdowell trades not taken today 18th Jan :
Short 1825, does a low of 1821.25 reversed to long >1830.60 Loss 5.60
Long 1830.60 Does a high of 39.50, here I would have covered one lot at 5.60 to cover previous trade loss and 2nd lot at 8 points profit.
Sell below 1827.10 , does a low of 1824, trade still open.

 

[ambarish123]

can u explain one trade in chart pl & link to this strategy if available in this forum.
If not,pl explain.

heresthe nr method http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup.html

 

[ambarish123]

Mcdowell trades not taken today 18th Jan :
Short 1825, does a low of 1821.25 reversed to long >1830.60 Loss 5.60
Long 1830.60 Does a high of 39.50, here I would have covered one lot at 5.60 to cover previous trade loss and 2nd lot at 8 points profit.
Sell below 1827.10 , does a low of 1824, trade still open.

try to lower ur tgt to mybe 2.5,and do a backtest

 

[gkpc]

heresthe nr method http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup.html

NR7 and IDNR4 are as similar as Apple and orange ! Please do not confuse.

 

[rangarajan]

heresthe nr method http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup.html

Thanks ambarish.
I am aware of this link.
But i asked specifically gkpc whether his strategy is available in traderji & whether NR represents Narrow range bar.
But he had replied in Negative to both & hence my curiosity to know.

I had sent a PM to karnani who had given the afl & wait for his reply.

Thanks once again for yr reply.

 

[gkpc]

try to lower ur tgt to mybe 2.5,and do a backtest

Its difficult to trade 2.5 to 3 rupees in Mcdowel as the movements are vicious in it.
As there has to be some cushion in SL also and the SL and Tgt cannot be highly mismatched hence I am comfy with this.
Will surely eye ball the charts as per your suggestion.
Thanks for taking interest.

 

[gkpc]

Mcdowell trades not taken today 18th Jan :
Short 1825, does a low of 1821.25 reversed to long >1830.60 Loss 5.60
Long 1830.60 Does a high of 39.50, here I would have covered one lot at 5.60 to cover previous trade loss and 2nd lot at 8 points profit.
Sell below 1827.10 , does a low of 1824, trade still open.

The last short trade would have also given 18 points. Does a low of 1801.05
Am happy with what I got.