Thoughts on Day/Swing Trading

Discussion in 'Day Trading' started by Smart_trade, Jan 26, 2011.

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  1. friendforevers0007

    friendforevers0007 Well-Known Member

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    yesterday also atp works very well. dear st can we apply atp on stocks too?? and s/l is below atp na!!!
     
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  2. Smart_trade

    Smart_trade Moderator

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    I have traded this on Nifty Fut and Bank Nifty fut for number of years. Not traded on stocks but I guess the same logic should apply. Do some backtests before you start trading it. Just eyeballing the charts will give you fair idea about its success on stocks. Bull/bear squeeze should work well in stocks too...

    Smart_trade
     
  3. timepass

    timepass Moderator

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    Good point. I think stoploss below ATP would be inappropriate in this strategy. Maybe ATP + 15. NF sustaining less than that would mean indecision (or worse, reversal).

    ST ???
     
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  4. Smart_trade

    Smart_trade Moderator

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    Hello TP,

    We will look to enter the trade when difference between the current price and ATP is large so indicating trapped bulls/bears and that the market has gone against then. So stoploss at ATP will be too large. I would suggest a nearest Pivot Low in 15 min timeframe if we are long. In NF I have found that when the market gathers momentum and traction, it wont dip more than 20 points.....so even 15-20 points in NF works well, in case of stocks one has to find out depending on the volatility and strength of the trends.

    Smart_trade
     
  5. trade4joisar

    trade4joisar Well-Known Member

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    Hi Dan,

    I was looking @ P&F chart & have few questions

    1. What reversal value we should keep for P&F? I changed from 3 to 5 charts looks completely different. So it depend on for which market we are using it for?

    2. How to interpret sequence & alphabets as mentioned in below chart?

    3. How to interpret lines drawn ?

    [​IMG]
     
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  6. murthyavr

    murthyavr Well-Known Member

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    Good material on PnF charts is available at stockcharts.com

    Here is the link to that section.

    Best wishes..
     

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