Thoughts on Day/Swing Trading

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

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  1. anuragmunjal

    anuragmunjal Well-Known Member

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    thnx ST

    it sure is helpfull...

    regards

    Anurag
     
  2. Smart_trade

    Smart_trade Moderator

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    There are some methods which trade only if the higher timeframe is trending. They dont trade when higher timeframe is in sideways mode.

    On sideways move days we have to be happy with small moves and we need to trade very fast for smaller moves

    For countertrend trading one either needs to identify the exhaustion of the move and take a countertrend position or the market has to be in sideways mode so we buy near support and sell near resistance. There are ways of identifying move exhaustion.

    We will take some range days and see how to trade on those days...

    Smart_trade
     
  3. harish2005

    harish2005 New Member

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    Great Words of wisdom,
    thankyou Smart_trade ji,
    could you show us a chart example explaining major/visual/shortterm trends




     
  4. Smart_trade

    Smart_trade Moderator

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    Thanks harish for your kind words.

    I will soon post charts showing these 3 trends in same timeframe and how they interact with each other .....please allow me some time...

    Smart_trade
     
  5. jraj

    jraj Member

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    All of this is very nice.But all of this is what Saint has been talking about and trying to teach.Probably you being the Super Moderator of that forum,you should have at least given Saint a mention.

    Moreover,all of this and what you are about to say might lead to a copyright infringement,not giving him credit.

    This thread will reach a greater audience,I am sure,through Traderji.But it still is wrong passing on other's ideas as one's own.
     
  6. shinchan

    shinchan Well-Known Member

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    Take it easy bro.

    ST da is a close associate of Saint. :)

    Don't try to disrupt the flow.

     
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  7. Satyen

    Satyen Well-Known Member

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    Dear Da Thanks a Lot,

    Can you please post a nifty Daily Chart with How to detect Sideways , I am trying to find out interms of daily pivots .... Waiting your valuable inputs

    Regads
     
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  8. Smart_trade

    Smart_trade Moderator

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    Dear jraj,

    I have noted the contents of your post and I thank you for the same.

    This thread is not started to "teach" anything ....this is started to share trading ideas with other traders .I am sure your concern is out of love and respect for Saint which I too share.

    So far I have talked about trends,volatility,multiple timeframes etc which are general and basic to technical analysis.....no person or forum has any invention rights on these things. I do not want to share any specific method/system which is proprietory to Saint or the other forum you mentioned.And whenever I feel like sharing these methods, I will certainly give credit to the inventor of the method. Our ideas/thoughts are influenced /inspired by what we read in books,talk to other traders,our own experience but any specific method will be shared with mentioning the name of the inventor.

    I have kept Saint informed about what I am posting and he very magnanimously mentioned that if anything is going to help traders in improving their trading, go ahead and share ....so no copyright issues will come in the way of sharing. But I dont plan to share any specific method/technique of the other forum here as yet.

    Hope the above clarifies the position.....

    Best wishes,

    Smart_trade
     
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  9. Nihilistic

    Nihilistic Banned

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    Dear Smart Trade,

    I've been looking at your posts, and I have same kind of mindset as yours, quick entries and exits on breakouts. Many a times, it doesn't materialize, and I lack disciplined approach, hence my losses have deepened to the level of making me literally go broke.

    I request you to post the proper methods one must have to achieve desired goals with such outlook. Even a strategy perhaps would be really give me some hope toward realizing at least a 1/4 of capital I've lost.

    Expecting your kind reply.

    Regards,
     
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  10. Smart_trade

    Smart_trade Moderator

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    Hello Nihilistic,

    Try the following...they might help you to improve your success rate and profitability :

    1) Use a higher timeframe which should be about 5-6 times your trade timeframe for deciding the direction in which you will take the trades. So if you are trading on 3 min bars, use 15-20 min bar as higher timeframe to give you a trade setup. For 5 min bars the higher timeframe will be 20 or 30 min bar. If higher timeframe is trending down, take all short trades...and vice versa

    2) If the breakout/breakdown fails and the market closes in the range which it broke then it is a breakout failure and better to get out of your position without waiting for stoploss to hit ......

    Wait for clearly set up trades....that will help. Trading bothways requires good understanding of market action...dont attempt that initially.

    Smart_trade
     
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