Pride's Intra-Day Strategy [Profit Everyday]

[.Pride.]

I have heard of Dhuiraj's method.Could you please illustrate any imp points from the method here, which implied for this trade?

I was talking about this post where Dhiraj has suggested that we can take trades even if 30min stoch crossover has not happened yet, but the stoch is in overbought/oversold region.

This is his post:

Hello Pride

  You were talking about improvements ... :thumb:

Here's one suggestion

You use the HTF stoch as a filter 

You can test the following condition

Take Long trades even when K30 < D30, but both K30 and D30 are less than 20/25 which means the stoch although is bearish but its also showing an oversold condition, so reversal on 5 min stoch can be profitable, also the EMA should keep you on the right side, 

The bet is that on the next 30 mins bar the stoch values K30 and D30 should flip.

Opposite for Short trade can use K30 & D30 > 75/80

Hope it helps

Did you use 1415 bar as short? 5 min stoch crossover downwards and ema almost doing the same?Is this valid?

I didn't take this short as ema crossover was not clear. but as I said earlier, traders can and should use their discretion before taking a position. Here, it was upto you to decide whether you consider that as crossover or not.
If taken, the trade turned out to be profitable though

 

[.Pride.]

second trade:

Sold @ 4245 as ema touched and went back (I consider that equivalent to crossover)...while 30min stoch was bearish and 5min stoch turned bearish at that instant.

Squared off @ 4228 for no reason except that it was already 3:29pm

 

[ag_fx]

Pride,
If I am correct, the system didnt generate any trade signal today. Except the tweak that you made on to the system, there could have been no trade.

Am I right?

Btw, I think the tweak is a worthy one. Even today, at the time EMA crossover took place, the HOD was very near off. Hardly 15-20 points off. So the Risk Reward ratio was in the favour of the trade to execute it.

Hopefully I will be able to grasp it and soon should be able to trade live orders based on this.

Do keep pouring in your feedback and trades.

Thanks

Happy Trading

 

[.Pride.]

in my charts ema touched from 14:55 to 15:00, so I took the short. ( i accept, my data is not of the highest quality, so I cannot guarantee whether it did or not)

But there have been days when no signal has been generated. Usually 2-3 days in each month.

and yes, Dhiraj's tweak is logical, as the stoch has nowhere to go except to reverse once it reaches oversold/overbought levels

 

[.Pride.]

Profit for Today = 28+17 = 45 Points

Net profit after removing brokerage and slippage = around 35 Points

 

[ag_fx]

Here is the chart for BNF for the day.

The 30 min stochs was bearish throughout and looking to go down only.

Trade 1: Is a little off the system. At that time, 30 min stoch was bearish. EMAs had crossed over and then 5 min stoch crossed down.
Is this a fine way to take a trade pride? Wherein ema crosses before stochs?

Trade 2: Simple trade following all the rules of the trade.


A total of 33+61=94 points before brokerage on the counter today.

Do give ur feedback pride.

 

[.Pride.]

trade 2 is perfect.

in trade 1, you can go with the trade as 30min stoch is bearish, ema crossed over, and 5min stoch has already sharply curved downwards indicating that it is about to crossover as well.

this happens occasionally and if you see that 5min stoch is about to crossover or has curved sharply and distance between the slow and fast stoch lines is very less, it is advisable to take the position.

well, it's been a week now and all days have been profitable, with points ranging from 35 to 100
and thats what I think is most important, to end the day in the green side...

 

[ag_fx]

trade 2 is perfect.

in trade 1, you can go with the trade as 30min stoch is bearish, ema crossed over, and 5min stoch has already sharply curved downwards indicating that it is about to crossover as well.

this happens occasionally and if you see that 5min stoch is about to crossover or has curved sharply and distance between the slow and fast stoch lines is very less, it is advisable to take the position.

well, it's been a week now and all days have been profitable, with points ranging from 35 to 100
and thats what I think is most important, to end the day in the green side...

Yes you are right...getting a greeen close everyday is absolutely fantastic!

btw, what kind of money management do you use on your account for this strategy Pride?
How many lots do you take and how much capital do you use to trade this strategy?

Happy Trading


Yes you are right...Ending each day in green is fantastic...I have seen only Saint Sir doing so here in years!!!

Btw pride, what kind of money management do you employ while trading this set uup? How many lots do you trade and with how much total capital in the account?

 

[.Pride.]

saint sir is in a separate league altogether...he is a man of knowledge...i am just a man with a system

I keep taking profits out of my account so capital nearly remains the same,and as this system has already given me good profits, I am willing to go for higher risk, and use about 75-80% of my capital on each trade. Though I would advise others to trade using MM which they consider prudent.

 

[linkon7]

Hi

If you are using amibroker then you can plot the higher TF stock on the same chart (different panel), using the following code

_SECTION_BEGIN("Stochastic_30_MINS");
periods = Param( "Periods", 8, 1, 200, 1 );
Ksmooth = Param( "%K avg", 3, 1, 200, 1 );
Dsmooth = Param( "%D avg", 4, 1, 200, 1 );

TimeFrameSet(in1Minute * 30);
k30 = StochK( periods , Ksmooth);
d30 = StochD( periods , Ksmooth, DSmooth );
TimeFrameRestore();

K	=	TimeFrameExpand(k30, in1Minute * 30);
D	=	TimeFrameExpand(d30, in1Minute * 30);

Plot(D, "D", colorRed, styleThick );
Plot(K, "K", colorBlue, styleThick );

Hi = IIf(k > d, k, d);
Lo = IIf(k < d, k, d);

COLOR = IIf(Ref(d,1) > Ref(k,1), colorRed, colorBlue);
//COLOR = IIf(K > D AND (K > 80 OR D > 80) OR D > K AND (K < 20 OR D <20), colorLightGrey, COLOR);

PlotOHLC(Lo,Hi,Lo,Hi,"",COLOR, styleNoLabel | styleCloud);

_SECTION_END();

RajaDhiraj,
This afl is different from the screenshot u posted.... Can u please post the afl of the screen shot...

Thanks...!