Learning through blunders

newtrader101

Well-Known Member
#22
The currencies usually gap large at open. If you see a rejection pin+overbought/oversold+large volume, enter against the direction of the tail.
Stop= end of tail+ 1 pip (0.0025). Target= Bollinger band middle line/10 SMA.
Limit risk to <= 2% of capital.
Example today's USDINR 15 min.
 

newtrader101

Well-Known Member
#24
ADX HISTOGRAM-SUPERTREND -RSI-BOLLINGER BAND STRATEGY
Friends, trying out a new strategy:
FOR TRENDING MARKET (ADX HISTOGRAM BARS EXPANDING):

LONG: ADX HISTOGRAM GREEN BARS EXPANDING + SUPER TREND BUY
SHORT: ADX HISTOGRAM RED BARS EXPANDING + SUPER TREND SELL
Use Zerodha Pi.

FOR RANGING MARKET (ADX HISTOGRAM thin )
LONG:
ADX HISTOGRAM thin + (PRICE <= BB LOWER) +RSI crossing 30 from below
SHORT: ADX HISTOGRAM thin +(PRICE >= BB UPPER) +RSI crossing 70 from above
 
Last edited:

newtrader101

Well-Known Member
#25
Setting some rules for myself:
  • Trade only GoldPetal Intraday on 1 hour chart
  • Trade SilverMicro on daily chart
  • Positional trades on suitable stocks w/o margin (Same criteria as on daily below)
  • Intraday: Enter if the trend is same on 1 hour and daily (widening ADX histogram).
  • Daily: Enter if the trend is same on daily and weekly, overbought/oversold on Stochastics with cross over, and Bollinger band touch.
  • Maximum loss per day <= 1% of capital
  • After 1.5% gain, start trailing stop loss at swing highs/lows
  • When ADX histogram is narrow, and the price range is reasonably wide (to allow some profit) trade that range. Keep the stop outside the band, 2 pips beyond the last extreme point. Do not trail stop loss. Target = Opposite band/ Middle band/ 10 SMA. Use your judgment to find when it is going to bounce back, to exit. Do not trade narrow ranges
  • Write down a plan for each trade-with reasons for trade, levels, possible outcome, risk, and reward.
  • Log each trade with a screenshot, after entering the trade
 
Last edited:

newtrader101

Well-Known Member
#26
The currencies usually gap large at open. If you see a rejection pin+overbought/oversold+large volume, enter against the direction of the tail.
Stop= end of tail+ 1 pip (0.0025). Target= Bollinger band middle line/10 SMA.
Limit risk to <= 2% of capital.
Example today's USDINR 15 min.
Increase the stop to 2 pips.
 

newtrader101

Well-Known Member
#27
Gold does pullbacks and minor reversals on the daily, mostly starting Mondays-this translates into trends on the hourly. Silver follows Gold or is it vice versa?
 
Last edited:

newtrader101

Well-Known Member
#28
A Stochastics Bollinger band strategy (seems to work for Gold/Silver) most of the time:
  • Buy when Fast Stochastic crosses Slow from below, while under the oversold line (<=20)+ BB Lower band touch
  • Sell when Fast Stoch crosses Slow from above, while above the overbought line (<=80) + BB Upper band touch
If the angle of intersection is wide, the trend is strong. Can enter. If it is very small, it could be probably just ranging. Do not enter.

STOPLOSS just beyond the latest price touch on the BB.

Kindly point out if this is incorrect.
 
Last edited:

manojborle

Well-Known Member
#29
A Stochastics Bollinger band strategy (seems to work for Gold/Silver) most of the time:
  • Buy when Fast Stochastic crosses Slow from below, while under the oversold line (<=20)+ BB Lower band touch
  • Sell when Fast Stoch crosses Slow from above, while above the overbought line (<=80) + BB Upper band touch
If the angle of intersection is wide, the trend is strong. Can enter. If it is very small, it could be probably just ranging. Do not enter.

STOPLOSS just beyond the latest price touch on the BB.

Kindly point out if this is incorrect.
If Stochastics remains above 80 for 4-5 bars DO NOT Go SHORT
If stochastics remains below 20 for 4-5 bars DO NOT Go LONG
 

newtrader101

Well-Known Member
#30
Traders Please Note:
Commodities contracts require 5x times normal margin from 5 days before date of expiry. So if you don't square off before date of expiry you might get a margin call.
 

Similar threads