Folks,
I am starting a new thread on just Nifty and Bank Nifty trading. Though I was not very regular in Traderji, still I am in stock market since 1994. I have tried different methods for trading in stock market and finally got a method that is profitable to me most of the times.
I want to share my strategy with fellow traders in this forum. And if my thread helps fellow traders I will be more than happy.
Please go through my site xxxxxxxxxxxxxx where I have described my strategy in details.
For those who don't have a time to peep into my site I am describing the strategy here.
Entry: Go long when in the daily nifty chart at xxxxxxxxxxxxxxxxxx the following channel crossover happens. 3 mins EMA crosses over 13 mins EMA and 13 mins EMA crosses over 34 mins EMA. Pls note, I mentioned channel crossover. Confirm your position with RSI crossing above 50 and stochastic moving upwards. Pls do not go long when RSI is above 70/80. Your can hold you position end of day also if in the 5 days chart at
http://stockmaniacs-nifty.blogspot.com/ 70 mins EMA crosses over 1030 mins EMA and stays above it.
Go short when in the daily nifty chart at xxxxxxxxxxxxxxxxxxxx the following channel crossover happens: 3 mins EMA crosses below 13 mins EMA and 13 mins EMA crosses below 34 mins EMA. Pls note, I mentioned channel crossover. Confirm your position with RSI crossing below 50 and stochastic moving downwards. Pls do not go short when RSI is below 30/20. Your can hold you position end of day also if in the 5 days chart at xxxxxxxxxxxxxxxxxx 70 mins EMA crosses below 1030 mins EMA and stays below it.
Exit: The strategy is entry by 1 day chart and exit by 5 days chart. Re entry is only by 1 day chart. Exit long when MACD in 5 days chart enters negative zone. Exit short when MACD in 5 days chart enters positive zone. Re-enter long or short if EMA channel crossover in 1 day chart happens again.
Thus, you can avoid the sideways market whipsaws.
My ultimate strategy: Trade less but trade profitable, earn more and give away less brokerage, bcoz the brokers sucks. So hold onto your position as long as price show an opposite trend.For more details and live Nifty and Bank Nifty charts pls visit my site
http://www.stockmaniacs.blogspot.com/. Your comments are welcome.
Regards,
Indrajit Mukherjee