Pride's Intra-Day Strategy [Profit Everyday]

[skgarg]

Re: Algorithm

Algorithm as I have understood (Things that i have still not understood in red, also what I have understood might be wrong,I wud be thankful if someone clarifies)

1) Do not trade till 10:30 am.

2) At 10:30, check 30 min stoch if it is bullish or bearish. Crossover might have taken before, that doesnt matter.

Do we see OB/OS levels in 30 min TF?

2) Now till 11:00 drop down to 5 min TF and see 5 min stoch. Lets say step 2 gave us bullish. So now we see if 5 min stoch is bullish or not. However it should not be overbought. Again we check for only bullish or bearish like in point 2 and not for actual crossover. The crossover might have taken back earlier.

1)Can a oversold bearish 5 min stoch be taken as a bullish signal ?

3) As long as point 1 & 2 are satisfied, we look for EMA crossover. Here we look for actual crossover. What this means is that suppose 30 min stoch is bullish but 5 min stoch at that time is bearish and during this time EMA crosses up. Now sometime later, 5 min stoch turns bullish and the EMA is still up, so we DON'T enter the trade, we wait till EMA crosses back down and then crosses back up(and at that time both 5 min & 30 min stoch are bullish). Its then when we enter the trade.
In short, 5 & 30 min stoch are neccessary pre-requisites & EMA crossover is the entry point. If the entry point is missed, we do not enter till we get another entry point.

4) Stoploss is the low of previous bar of entry or the low of the last to last bar whichever is lower.

5) One exits when 5 min stoch changes from bullish to bearish.

Do we exit if EMA crosses back or 30 min stoch changes from bullish to bearish or at anyother combination?

Plz someone reply to this : http://www.traderji.com/day-trading...y-strategy-profit-everyday-53.html#post328400

 

[regardson]

Re: Algorithm

Algorithm as I have understood (Things that i have still not understood in red, also what I have understood might be wrong,I wud be thankful if someone clarifies)

1) Do not trade till 10:30 am.

2) At 10:30, check 30 min stoch if it is bullish or bearish. Crossover might have taken before, that doesnt matter.

Do we see OB/OS levels in 30 min TF?

2) Now till 11:00 drop down to 5 min TF and see 5 min stoch. Lets say step 2 gave us bullish. So now we see if 5 min stoch is bullish or not. However it should not be overbought. Again we check for only bullish or bearish like in point 2 and not for actual crossover. The crossover might have taken back earlier.

1)Can a oversold bearish 5 min stoch be taken as a bullish signal ?

3) As long as point 1 & 2 are satisfied, we look for EMA crossover. Here we look for actual crossover. What this means is that suppose 30 min stoch is bullish but 5 min stoch at that time is bearish and during this time EMA crosses up. Now sometime later, 5 min stoch turns bullish and the EMA is still up, so we DON'T enter the trade, we wait till EMA crosses back down and then crosses back up(and at that time both 5 min & 30 min stoch are bullish). Its then when we enter the trade.
In short, 5 & 30 min stoch are neccessary pre-requisites & EMA crossover is the entry point. If the entry point is missed, we do not enter till we get another entry point.

4) Stoploss is the low of previous bar of entry or the low of the last to last bar whichever is lower.

5) One exits when 5 min stoch changes from bullish to bearish.

Do we exit if EMA crosses back or 30 min stoch changes from bullish to bearish or at anyother combination?

Hi SK,
Do we see OB/OS levels in 30 min TF?

Yes we do see for a crossover.. It should be at the direction of the 5min chart. Sometimes its risky to trade in this zone as the pic i have attached earlier... check that. You should always look for a sharp curve.. distance between both the lines should be farapart..

Today, the last trade in nifty, the 30mmin was at the overbrought, but with a sharp curve reversing.


Can a oversold bearish 5 min stoch be taken as a bullish signal

Yes you can... But should be reversing.. and 30min TF should support that accordingly.

Do we exit if EMA crosses back or 30 min stoch changes from bullish to bearish or at anyother combination?

We only exit according to 5 min chart and on the reversal of 5 min stoch.

I hope this is clear ... and ankit and pride can assist me
whether i am right..

 

[regardson]

hi ankit,
Did you start trading for real...Do let us know .. I might be starting from next week..

 

[regardson]

This is on 25th june. 1:40 pm.

Please see the right most candle of the attached chart.

At the bottom, 30 min & 5 min stoch is bullish & at this candle (1:40 pm), EMA crossover takes place.

my querry is that is this a valid trade?

Sk,,
It seems valid for me as your ema crossed and both of your stoch is neither in the oversold area and also both are in the uptrend.
Hope its clear ...
I would suggest to change your ema to go with candlestick... which could give you much more clear picture.

 

[MurAtt]

Sorry guys,

Did not trade today nor any notes made ... was out of office the whole day.

Hope to be online 2morrow during trade hours ....

 

[bandlab2]

when 30 min stoch crosses several times like today, it will confuse us., but such days are rare

 

[ag_fx]

Hello ankit you only take trade near the close of the candle which trigers the cross over ??

Regards
Satya

Yes Satya. Ideally we should wait for the candle to close for a confirmed signal. I generally keep myself ready and enter as soon as candle closes.

Algorithm as I have understood (Things that i have still not understood in red, also what I have understood might be wrong,I wud be thankful if someone clarifies)

1) Do not trade till 10:30 am.

Not a neccessity. But generally this will happen.

2) At 10:30, check 30 min stoch if it is bullish or bearish. Crossover might have taken before, that doesnt matter.

Do we see OB/OS levels in 30 min TF?

My take is we can ignore OB/OS on 30 min chart and just take the direction. It takes at least 3-4 candles on 30 min for stoch to reverse and since we are trading 5 min chart, it is almost irrelevant.
I dont consider OB/OS for 30 min chart.

2) Now till 11:00 drop down to 5 min TF and see 5 min stoch. Lets say step 2 gave us bullish. So now we see if 5 min stoch is bullish or not. However it should not be overbought. Again we check for only bullish or bearish like in point 2 and not for actual crossover. The crossover might have taken back earlier.

1)Can a oversold bearish 5 min stoch be taken as a bullish signal ?

A bullish crossover in the oversold region of 5 min chart is a valid Long condition.See the first post of this thread. Pride has clearly mentioned this.

3) As long as point 1 & 2 are satisfied, we look for EMA crossover. Here we look for actual crossover. What this means is that suppose 30 min stoch is bullish but 5 min stoch at that time is bearish and during this time EMA crosses up. Now sometime later, 5 min stoch turns bullish and the EMA is still up, so we DON'T enter the trade, we wait till EMA crosses back down and then crosses back up(and at that time both 5 min & 30 min stoch are bullish). Its then when we enter the trade.
In short, 5 & 30 min stoch are neccessary pre-requisites & EMA crossover is the entry point. If the entry point is missed, we do not enter till we get another entry point.

Bascially when 5 min stoch turns in ur favour, the EMAs should be either crossing over or shoudl have crossed over very recently(at most 1-2 bars). You will notice that as the time increases, the seperation between EMA also increases. We have to enter when EMAs are as close as possible(after stochs confirm our entry). We also entered on the kissing of EMAs. That is when EMAs just touch and turn around without actual crossovers. That is as good as a crossover.

4) Stoploss is the low of previous bar of entry or the low of the last to last bar whichever is lower.

5) One exits when 5 min stoch changes from bullish to bearish.

Do we exit if EMA crosses back or 30 min stoch changes from bullish to bearish or at anyother combination?

[/QUOTE]

Thats right. We do not exit on 5 min EMA crossing over. and 30 min stoch changing direction.....Trust me, that will happen may be once in 1000 times.Your lower TF stochs and EMAs will cross much before that.

Well done Regardson,Ankit.:clapping::clapping::clapping:

Thanks buddy.

hi ankit,
Did you start trading for real...Do let us know .. I might be starting from next week..

Yea..started live from today.

 

[komalpradhan]

Hi, Mr Pride.
What was your trading today.
Please explain with chart..

 

[ag_fx]

Chart for the day

 

[komalpradhan]

Thanx Ankit Jee.
I think there was no cross over at 1.45 .Don't you think we are going against the rule.
Please comments