nifty swing trading ideas without TA

Discussion in 'Swing Trading' started by gurmy., Dec 1, 2012.

  1. gurmy.

    gurmy. Well-Known Member

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    dear friends,
    starting this thread to invite all to post swing trading ideas
    while posting ideas kindly bear two things in mind
    1:it should be simple enough to be understood by a newbi
    2:no use of TA
    why no TA?
    for that i would quote the words of Linkon sir(with due respect)

    "Trading is all about how you handle your trades. Very little to do TA. Technical Analysis is just a smart way of loosing money..with lot of confidence.

    What we see on the charts is basically what the eyes want to see. If you are holding puts and things are not going as you hoped, you will find technical reasons to hold on to the trade. You will find other analyst who will support your decision and that will give you extra confidence to loose more money. "
    i am fully agree with,but this is not the topic to discuss here
    so friends kindly post the ideas
    looking forward to it
    thanks
     
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  2. saivenkat

    saivenkat Well-Known Member

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    Any kind technical analysis is needed for swing trades.. to get proper entry or exits..and which is my humble opinion..


    May be the TA could be .. through charts.. or in the form of Excel sheets.. or any kind.. of SW..
     
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  3. gurmy.

    gurmy. Well-Known Member

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    dear friends,
    a system based on above conditions has been designed by mr. praveen taneja(one of the senior member here) to trade gold petal,with a good success rate
    but somehow it seems the system works for gold petal only
    i tried to copy that system for nifty,but could not success
    thats why started this thread
    thanks
     
  4. gurmy.

    gurmy. Well-Known Member

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    that is what i want to avoid(using of charts )
    let us see
    thanks
     
  5. gurmy.

    gurmy. Well-Known Member

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    OK
    let me present my idea of trading nifty w/o TA
    1:BUY, when price crosses the high of previous two days
    2:SELL,when price crosses the low of previous two days
    3:EXIT LONG:when price crosses previous day low
    4:EXIT SHORT:when price crosses previous day high
    5:eek:n opening the long position,if price closes below previous day close price,long should be closed same day,do just opposit for short position.
    6:take position with two lots,one to be squared off at 20 pts profit/loss
    basic idea is not mine,but i have done some modification to suit my style
    backtested on nifty spot,gives 150-200 pts avg per month
    i have not traded this till now but planning to do
    before that would like to know if anything is missing here
    your feedback is welcome
    thanks
     
  6. Smart_trade

    Smart_trade Moderator

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    Good idea gurmy. The sideways market will give whipsaws and if you can devise a method to stay away in sideways market and trade only trending phase, performance of the method can substantially increase with much less whipsaws.

    Smart_trade
     

  7. gurmy.

    gurmy. Well-Known Member

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    Thanks ST
    yes i agree about sideways market whipsaw
    infact as per my view no system can trade sideways market successfully whipsaw are part & parcel of a system
    but if we can not remove them,than we should find a way to reduce their effect
    in the above system introduction of 2nd lot (which is to be closed at 20 pts profit/loss) is for that purpose only
    still if somebody has any idea to reduce whipsaw,he can post
    it will be a great help
    thanks
     
  8. gurmy.

    gurmy. Well-Known Member

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    GM,
    update on system call
    the last call generated by system was BUY on 26.11.12 @5649
    with buying two lots,one lot was closed at the same day with a loss of 20 pts
    EXIT for long call is 5828(low of 30.11.12) (this exit is valid for today only)
    so a profit of(5828-5649-20)=159 pts is already locked
    nifty spot is 5868 at present
    thanks
     
  9. prabhsingh

    prabhsingh Well-Known Member

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    Gurmy,

    Kindly can you post some data representation as well either in form of charts of excel sheet snapshot so that system can be understood more clearly.Secondly can we use this methodology for individual stocks as wel or its just for Nifty.
     
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  10. gurmy.

    gurmy. Well-Known Member

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    Last edited: Dec 3, 2012
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