Yet another Intraday/swing trading system (I named as Profit Trading System aka PTS) that I found pretty useful which gives more good signals to take the position either long or short. This method has been tested by real trades in Nifty Futures and the results are great as well as very less loss trades! (can't avoid loss trades on any intraday/swing system)
After testing lots of setups like different time frame, EMAs and I finally settled up with this setup that gives very less whipsaws/losses and in good profits as well. For some reasons, on 3 Mins chart, 30 EMA takes a big support, most of the time when the candles touch the 30 EMA, it turns again to the trend and if it breaks the 30 EMA and there is reverse trend happens. This setup clearly gives early signals to take position for any big movements either way. You need live charting facility to use this system (I am using Sharekhan for charting, I recommend icharts.in, Ami as well). I have tested this method live trades only with Nifty Futures, as the stocks chart is doesn't good in this setup for intraday or swing.
Benefits of this strategy:
1. Gives Signal at the earliest to Enter the position.
2. Gives Signal to Exit the position at the right time.
3. Very low trades of Whipsaws that results in small losses.
Setup
3 Mins Candle Chart
5 EMA
30 EMA
Entry
When the 5 EMA cuts above 30 EMA take the position for long and same as vice versa for shorts.
Exit
When you're in long and the 5 EMA cuts below 30 EMA exit the position and take fresh position to shorts.
SL/TSL
There is no SL or TSL in this system, as we're just going to exit our positions as the crossover happens on 5 EMA and 30 EMA.
Holding
I mostly suggest to cover the position on EOD and not to hold for next day, as if the markets open gapup/gapdown on next day morning, sometimes you get big losses if it opens against your positions. Sometimes, it gives good profits as well, so hold the positions on your own decision or exit on EOD and take fresh positions next day according to the chart settings.
Suggestions:
1. Not to use this setup on Future Expiry day, as you know particularly on that day lots of whipsaws happen.
2. Some days on flat market also, you caught on whipsaws, but as said, those will be very minimum losses.
3. After taking the positions, do not try to predict the market, just keep watching the live charts and take appropriate actions when the cross over happens.
Check out the charts on the next post for more clear picture
After testing lots of setups like different time frame, EMAs and I finally settled up with this setup that gives very less whipsaws/losses and in good profits as well. For some reasons, on 3 Mins chart, 30 EMA takes a big support, most of the time when the candles touch the 30 EMA, it turns again to the trend and if it breaks the 30 EMA and there is reverse trend happens. This setup clearly gives early signals to take position for any big movements either way. You need live charting facility to use this system (I am using Sharekhan for charting, I recommend icharts.in, Ami as well). I have tested this method live trades only with Nifty Futures, as the stocks chart is doesn't good in this setup for intraday or swing.
Benefits of this strategy:
1. Gives Signal at the earliest to Enter the position.
2. Gives Signal to Exit the position at the right time.
3. Very low trades of Whipsaws that results in small losses.
Setup
3 Mins Candle Chart
5 EMA
30 EMA
Entry
When the 5 EMA cuts above 30 EMA take the position for long and same as vice versa for shorts.
Exit
When you're in long and the 5 EMA cuts below 30 EMA exit the position and take fresh position to shorts.
SL/TSL
There is no SL or TSL in this system, as we're just going to exit our positions as the crossover happens on 5 EMA and 30 EMA.
Holding
I mostly suggest to cover the position on EOD and not to hold for next day, as if the markets open gapup/gapdown on next day morning, sometimes you get big losses if it opens against your positions. Sometimes, it gives good profits as well, so hold the positions on your own decision or exit on EOD and take fresh positions next day according to the chart settings.
Suggestions:
1. Not to use this setup on Future Expiry day, as you know particularly on that day lots of whipsaws happen.
2. Some days on flat market also, you caught on whipsaws, but as said, those will be very minimum losses.
3. After taking the positions, do not try to predict the market, just keep watching the live charts and take appropriate actions when the cross over happens.
Check out the charts on the next post for more clear picture
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