The Best Trading System
- Thread starter Tuna
- Start date
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Are you a fulltime trader or have another primary source of Income?
If you are a fulltime trader but unable to get into Profit zone at month end, please stick to Nifty only and try to net 32 points daily using the system (with Pivots) that I discussed on Concept # 7. This is pretty easy. But be with the trend. Common human psy is to go for cheap - that is if the market is falling, instead of going with the trend to sell on the rise, we prefer to buy (contra) and get butchered. Supertrend on daily will give you the bias. I will discuss later on how to detect exhaustion of trend and to avoid further going with the trend.
If you are 9 to 6 person with a Job or Business as a primary source of Income, please use fool's system for 1 year (or you can use BB/CCI system on daily timeframe also with Weekly Pivots with Monthly pivot confluence) - Trade just 1 Lots in Nifty for next 1 year. Give yourself time - don't be in hurry to recover losses soon. Maintain the excel I have given on Concept # 6 to net 200 points in Nifty every month. You will get back your confidence.
If you are a fulltime trader but unable to get into Profit zone at month end, please stick to Nifty only and try to net 32 points daily using the system (with Pivots) that I discussed on Concept # 7. This is pretty easy. But be with the trend. Common human psy is to go for cheap - that is if the market is falling, instead of going with the trend to sell on the rise, we prefer to buy (contra) and get butchered. Supertrend on daily will give you the bias. I will discuss later on how to detect exhaustion of trend and to avoid further going with the trend.
If you are 9 to 6 person with a Job or Business as a primary source of Income, please use fool's system for 1 year (or you can use BB/CCI system on daily timeframe also with Weekly Pivots with Monthly pivot confluence) - Trade just 1 Lots in Nifty for next 1 year. Give yourself time - don't be in hurry to recover losses soon. Maintain the excel I have given on Concept # 6 to net 200 points in Nifty every month. You will get back your confidence.
Had a look on the chart during coffee break and
Sharing one observation:
ever since I had VWAP on my chart I am finding this pattern recurring. If on lower timeframe (3 mins), ST crosses over VWAP (regardless of primary trend, but if in the same direction, higher probability) and you see a big contrast on Buyer and Sellers, the closing session will be a violent one.
As of now ST is in green and above VWAP on NF Dec Future + (against primary bias which is bad) + But too many sellers compared to Buyer (almost 2:1) as per the current stat' around 12:05 pm.
If this status remains as is (that ST does not go below VWAP till 2:30 pm), most of the sellers will run for the cover, taking the price much higher.
As usual - enjoying my time off from the market, but will watch the post 2-30 session to check if this holds good.
And one more thing to watch - the support (highlighted on green at spot level ) on the weekly Pivot, check earlier posts on this thread. As long as that holds good, chances of short-term pullback is good (in fact even I am waiting for that). Market appears to be bouncing perfectly from those level.
Sharing one observation:
ever since I had VWAP on my chart I am finding this pattern recurring. If on lower timeframe (3 mins), ST crosses over VWAP (regardless of primary trend, but if in the same direction, higher probability) and you see a big contrast on Buyer and Sellers, the closing session will be a violent one.
As of now ST is in green and above VWAP on NF Dec Future + (against primary bias which is bad) + But too many sellers compared to Buyer (almost 2:1) as per the current stat' around 12:05 pm.
If this status remains as is (that ST does not go below VWAP till 2:30 pm), most of the sellers will run for the cover, taking the price much higher.
As usual - enjoying my time off from the market, but will watch the post 2-30 session to check if this holds good.
And one more thing to watch - the support (highlighted on green at spot level ) on the weekly Pivot, check earlier posts on this thread. As long as that holds good, chances of short-term pullback is good (in fact even I am waiting for that). Market appears to be bouncing perfectly from those level.
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Daily in the night after 9 pm I list the weekly looser stocks as well as weekly gainers stocks separately. Next day till 10 to 10.15 am I will not involve in any trading.
Please read the attachment pasted below chronologically as 1,2 & 3.If market is bullish till 9.50 am till 10 am then select bullish stocks under prevday short listed weekly looser list & check that the dual mov Av put on candles. If YELLOW MOVING AV IS CROSSED BELOW RED MOV AV & CANDLES ARE CLOSING ABOVE THE THESE DUAL MOV AV then put a vertical line at that location where dual mov av have crossover.
From then onwards any dip in RSI must be coincided by a dip in MACD is the point at which the buying to be done. Hold on to the position till BLUE mov av rises & touches the weighted mov av ( indicated AS exit).Book the profit then. BOUGHT AT 481.35 & SQUARRED OFF AT 514/-
Daily I trade two trades one before 12 noon & another after England arrives after 13.30hrs.In case if market is bearish till 10 am the same logic but all in reverse mode is to be carried out.but select the weakest stock from prev day weekly gainers list in that case.
Any comments & improvements to be done will be appreciated.
Regards,
N R Gopinath
Please read the attachment pasted below chronologically as 1,2 & 3.If market is bullish till 9.50 am till 10 am then select bullish stocks under prevday short listed weekly looser list & check that the dual mov Av put on candles. If YELLOW MOVING AV IS CROSSED BELOW RED MOV AV & CANDLES ARE CLOSING ABOVE THE THESE DUAL MOV AV then put a vertical line at that location where dual mov av have crossover.
From then onwards any dip in RSI must be coincided by a dip in MACD is the point at which the buying to be done. Hold on to the position till BLUE mov av rises & touches the weighted mov av ( indicated AS exit).Book the profit then. BOUGHT AT 481.35 & SQUARRED OFF AT 514/-
Daily I trade two trades one before 12 noon & another after England arrives after 13.30hrs.In case if market is bearish till 10 am the same logic but all in reverse mode is to be carried out.but select the weakest stock from prev day weekly gainers list in that case.
Any comments & improvements to be done will be appreciated.
Regards,
N R Gopinath
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Thanks for sharing this.Though I don't trade on stock (intra or F&O), I deal only in cash segment with 3-4 months horizon. However, it might help others trading on F&O on Equity.
This is actually a price reversal system for topped out or bottomed out stocks.
But more than indicator let me put few words behind the strategy that you are using (plz feel free to correct me). I am also adding few comments as my suggestion which might help to improve this further.
1. Weekend analysis - Excellent approach (I do it myself but only on index, for stocks monthly).
Here you are actually trying to find out stocks bottoming out or topping out weekly level. And then you are selecting your candidate for long (among the stronger one which are bottomed ) or Short (Among the weaker ones which are topped) - based on daily market Bias.
Stock Selection
Again I don't know if you are only looking at weekly gainers or losers purely on price or some level like Fibonacci, but you may optimise this further if you can add some oscillator to your scanner to find something coming out of overbought (CCI 34, 175,-175) level or oversold level (CCI 34,175 -175) instead of only looking for price.
Further, if you can find a Fibonacci level as support for bottomed out one (which you will go long) or vica-a-versa on daily time-frame, the odd of catching successful reversal increases.
Another thing (may be you are doing that): I don't know how are you judging market bias. Is it based on NSE /BSE Index? I hope not. Please note Indices are 'managed' - there are days where all sectors may be in red or green but that is rare. The exchange (and big money) typically control the index movements by cyclic movements of the sectors. So index may be down 50 points, you may find Bank stocks were up, but Pharma down.
What I am trying to say - as you want to set a Bias (Long or Short) for your trade, please check the index for individual sectors (like Metal, if you are playing with TATA Steel / IT Index if you are playing with TCS and likes). That will increase your hit rate.
Indicators:: RSI and MACD is a fair combination and you are further using Heikin Ashi candles to filter out noise (but you did not mention if you are looking for Hekien Ashi Doji to signify pullback or only on the test of the Weighted Moving Avg. I would have used Elder-Impulse and look for candle with long wick for rejection (but again that's my way).
I won't go much into technical setting you are using. There can be various other setups for the same game. If it is working for you with good win rate, stick to it.
Check if plotting VWAP helps in identifying pullbacks in a better way (as you are doing intra day). May be you can cut-down the few of your indicators - lesser the better.
Thanks once again for sharing your method. Good Luck.
This is actually a price reversal system for topped out or bottomed out stocks.
But more than indicator let me put few words behind the strategy that you are using (plz feel free to correct me). I am also adding few comments as my suggestion which might help to improve this further.
1. Weekend analysis - Excellent approach (I do it myself but only on index, for stocks monthly).
Here you are actually trying to find out stocks bottoming out or topping out weekly level. And then you are selecting your candidate for long (among the stronger one which are bottomed ) or Short (Among the weaker ones which are topped) - based on daily market Bias.
Stock Selection
Again I don't know if you are only looking at weekly gainers or losers purely on price or some level like Fibonacci, but you may optimise this further if you can add some oscillator to your scanner to find something coming out of overbought (CCI 34, 175,-175) level or oversold level (CCI 34,175 -175) instead of only looking for price.
Further, if you can find a Fibonacci level as support for bottomed out one (which you will go long) or vica-a-versa on daily time-frame, the odd of catching successful reversal increases.
Another thing (may be you are doing that): I don't know how are you judging market bias. Is it based on NSE /BSE Index? I hope not. Please note Indices are 'managed' - there are days where all sectors may be in red or green but that is rare. The exchange (and big money) typically control the index movements by cyclic movements of the sectors. So index may be down 50 points, you may find Bank stocks were up, but Pharma down.
What I am trying to say - as you want to set a Bias (Long or Short) for your trade, please check the index for individual sectors (like Metal, if you are playing with TATA Steel / IT Index if you are playing with TCS and likes). That will increase your hit rate.
Indicators:: RSI and MACD is a fair combination and you are further using Heikin Ashi candles to filter out noise (but you did not mention if you are looking for Hekien Ashi Doji to signify pullback or only on the test of the Weighted Moving Avg. I would have used Elder-Impulse and look for candle with long wick for rejection (but again that's my way).
I won't go much into technical setting you are using. There can be various other setups for the same game. If it is working for you with good win rate, stick to it.
Check if plotting VWAP helps in identifying pullbacks in a better way (as you are doing intra day). May be you can cut-down the few of your indicators - lesser the better.
Thanks once again for sharing your method. Good Luck.
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Apne pyaare MOD 
Vaise its Supertrend indicator. Some ppl using it with Heiken-Ashi candles but I personally feel its more like PSAR.
For the lazy its great :lol: for manual pivot traders we have our EDGE.
Vaise its Supertrend indicator. Some ppl using it with Heiken-Ashi candles but I personally feel its more like PSAR.
For the lazy its great :lol: for manual pivot traders we have our EDGE.
Hafta wasuli bhailog jaisa hone ka!! Come to market when its time, take your hafta if the setup allows and have fun in the evening.
P.S- Not my take, Coutsey Vasuli Bhai from the movie GolMaal
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