My daytrading

Discussion in 'Day Trading' started by Raghavacc, May 17, 2010.

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Did my thread made any difference to your trading?

Poll closed Feb 28, 2011.
  1. Yes

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  2. No

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  1. AW10

    AW10 Well-Known Member

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    Raghav, Good to see dedicated thread on your trading.

    All the Best.
    Happy Trading
     
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  2. Raghavacc

    Raghavacc Well-Known Member

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    Regards
    Raghav
     
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  3. Raghavacc

    Raghavacc Well-Known Member

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    Hi Satraj. I had been there.

    I think there are 2 ways for successfull trading.

    1.Identify trend .If its up go long at every pullback. If its down short at every pullback.

    2. Identifying tops and bottoms and riding the trend till you feel its enough.

    It applies to all timeframes. But learning it takes needs lot of sacrifice.

    As far as learning those tools are concerned, Traderji has more than enough materials.

    Great trader Gann said in 1909:

    For the past 10 years I have devoted my entire time and attention to this speculative market. Like many others, I lost thousands of dollars and experienced usual ups and downs incidental to the novice who entered the market without preparatory knowledge of the subject.

    I soon began to realise that all successfull men, whether lawers, doctors or scientists, devote years of time to the study and investigation of that particular pursuit or profession before attempting to make any money out of it"

    So in my personal opinion three stages for a successfull man:

    1. Identifying what suits my personality, it can be a job, profession or an art.

    2.Years of relentless effort to find out how the vibration ( in modern words its nitty gritty) works behind that job, profession or art.

    3. Tune our personality in harmony with that vibration.

    4. Flow of wealth in the form of reward.
     
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  4. Raghavacc

    Raghavacc Well-Known Member

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    I mentioned in my initial post that I do make use of BB with 20 sma alongwith Stochs. For Nifty I use only Stochs. More the indicators more will be the mess with the chart.

    Now lets see how BB complement And how Stoch filters those trades.I am taking TATAMOTORS. we need to remember that trading stocks is not as easy as that of Nifty indexes as Manipulators keep on pushing the prices back and forth thereby catching maximum possible Stop loses. Unless we have logical stop loss it will be a game of feeding sharks.


    1. Stoch in OS .Break of PL means sign of weakness .short.

    2. Here its difficult to define which is a PL and which is PH .So then I wait and take a common bottom and top and break of that can be shorted. I didn't take this trade as per my policy "When in doubt close".

    3.Here comes bollinger band. lower band pierced a green candle after a doji candle and stoch also flips from OS to neutral. Great RR entry go long.

    4.Bollinger band rules are satisfied.Agressive and quick scalpers can short for a small gain. However I will wait for the dips to buy as stoch in OB>5bars.

    6.Then at 20EMA see how the price takes strong support.Thats the time to add or make fresh entries.

    7.We are in mess now.There is a -ve divergence.Also BB top band pierces green+red. Now I trail my S/L to bottom of 2nd green bar from top..I survive jut by whisker.

    Then again when stoch flips from OB zone by staying in OB,<5 bars no point in remaining in the trade.

    [​IMG]

    Regards
    Raghav
     
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  5. munnabhai208

    munnabhai208 Active Member

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    Hi Raghav,
    Thank you for starting a new thread on your system.I have been learning from your charts in columbus's BOLLINGER BANDS thread.It willbe a great help to daytrading learners.
    I have a small request too,Could you pls attatch the chart in little small size ,so we can see the chart full in one go.
     
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  6. columbus

    columbus Well-Known Member

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    Hi Raghav,

    In fact ,in the initial stages the technocrats will LOSE money ,because of
    EGO problem.But drop outs & lower strata people (with less education background) will be SUCCESSFUL because always OBEY THE ORDERS (in other words,follow the trend).But in long run ,technocrats will be
    successful because ,a sense of humbleness prevail in them, whereas,
    the other class may not be successful because EGO makes an entry in
    them.
     
    Last edited: May 19, 2010
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  7. Raghavacc

    Raghavacc Well-Known Member

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    Todays trade.

    1.short - A break even trade
    2.Long - 5035
    3.Cover at close below shooting star-5098
    4.Lower PH -Wait
    6.Break of PL -short - 5070
    7.Cover at break of top of Doji -5058
    Other remarks can be found in the chart.

    [​IMG]

    Regards
    Raghav
     
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  8. Raghavacc

    Raghavacc Well-Known Member

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    Deleted.

    Regards
    Raghav
     
    Last edited: May 18, 2010
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  9. Raghavacc

    Raghavacc Well-Known Member

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    Now I am going to prove something which can be easily learn't by all newbies.

    Here we just need 20SMA, Stoch. Thats it. Nothing else.You can just do successfull trading with just these 2 and as usual you should know the basic of candlesticks. No excuse in that regard.

    What I am going to do is simple. when price moves up

    1.I ask where the next resistance is?

    2.Then look for a single candlestick pattern like Shooting star,hanging man,gravestone doji etc.

    3. When that candle arrives ask where the stoch is. Its in overbought - short.

    Viceversa when price is dropping.

    Lets take chart and you will get more clarity on this.

    Today's tisco chart.5 Minutes.

    [​IMG]

    Commenting numberwise.

    Immediately after first 5 Minute bar we have a Shooting star.2nd bar of the day.wait for a close below that shooting star.It didnt.

    1. High wave candle. wait for a close below that High wave candle. Ask where the stcoch is .In overbought.Short.Ask where the next resistance is. We don't know.Wait till we get one.

    2.Hammer with volume. Ask where the Stoch is. OS. long above the top of hammer.ask where the next resistance is .Its at the 50% of that big red bar .i.e:7th bar of the day.

    IMPORTANT:In a trend whenever you see a wide range bar remember this .The 50% of area of recent WRB acts either as res or support depending on the trend.

    3.Am I true ?at 20ema price gets rejected as well as its 50-60% of that big red bar. small shooting star.Ask where the stoch is .OB.Short below the close of Shooting star.Ask where the next res is. Its point number 2 at the hammer.

    4.Am I true? One more hammer. ask where the stoch........ OS.Go long above top of hammer. Ask where next res is.Remember it took support for the 2nd time. Now the next res to 50% area is 100% area of that WRB.I.E:TOP OF THAT BIG RED CANDLE.

    5. Am I true? Bearish Engulfing .Ask where the stoch is.stoch stayed in OB>5 Bars. remember the rule and keep quiet because bulls are still in lead. now ask where next supp is. 20ema? lets wait.

    6.Yes. at 20ema gravestone doji followed by a big green candle .Ask where the stoch is. turning upside from the dip. Go long .Now ask where the next res is .After 50% and 100% its Certainly high of the day. Lets wait.

    7.Yes. Big shooting star with huge volume. Ask where the stoch is.Now we realise that there is _ve divergence which indicates we are for big down move.and you short the break of bottom of shooting star and walk to your bank with a smile by eod.

    Just ask these little questions and you will do wonders in trading.Its a flip flop day and this simple method works.And market remains in these situations for 85% of the times.Then On huge trending day you do not require any system at all !!!!!:lol:

    Regards
    Raghav
     
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  10. Raghavacc

    Raghavacc Well-Known Member

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    Coming from previous post ...TATAMOTORS .Self explanatory.

    [​IMG]

    Regards
    Raghav
     
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