Trading MCX Crude intraday based on RH6996 system modified

[ankur07090]

01. Bar 1 : Long above ST only 1 lot.
02. Exit was saved as Bar2 was an IDNR4
03. Bar4 was a Short, but went short below low of Bar3 as inside bar on BB.
04. Added qty below Bar5 , below ST
05. Long above Bar 6 , but used high of bar7 as level, as Inside bar on BB.
06. Exited below Bar 8

Overall a No profit no loss day ! The first trade saved the day otherwise would be a losing one.

Hi gkpc,

can you please elaborate a more about bold lines above.

thanks

 

[gkpc]

Hi gkpc,

can you please elaborate a more about bold lines above.

thanks

The bars I referred to as IDNR4 , you can observe that the Range of first bar had encompassd the range of next three bars, I call it IDNR4, in such situation I use the high low of the bar that covers the entire range of next three bars though the signal may be generated by any of the next three bars. This I use irrespective of its 'place' of origin, that is whether it is touching the BB top or bottom or not. In this case as it is also on the BB top I give it more weightage. I would have gone short below the 2nd candle after the BIG candle but as was looking to go short only below the low of big bar , the long trade continued.

In the other case when I get an Inside Bar that s touching the BB, I use the high low of this bar as trigger point ! In hind sight it would have been better to have gone long above bar 6 instead of bar 7, but more often taking the level of bar 7 saves some whips.

 

[gkpc]

Today I am short from 3005, did see a low of 2998, but now chart showing weird bars for last 20 minutes in 5 min. chart with open close and even high low as same??? Can anyone confirm this please? I use metastock

 

[angira]

Bollinger Band gave buy signal near 3004-3005 as per 5min. TF.
I've entered@3005, exited @ 3015.
made high of 3023.

angira...

 

[gkpc]

Bollinger Band gave buy signal near 3004-3005 as per 5min. TF.
I've entered@3005, exited @ 3015.
made high of 3023.

angira...

Exited 1 lot short at 9 points at 2996 and I too went long at 3005 , exited 1 at 9 points, did high of 3028 and reversed to short at 3016!

 

[gkpc]

Exited 1 lot short at 9 points at 2996 and I too went long at 3005 , exited 1 at 9 points, did high of 3028 and reversed to short at 3016!

Its one hour since entry in Short, mkt totally sideways. Reducing SL bu no idea where to place it?? Present SL is at 3031.

 

[marimuthu13]

Its one hour since entry in Short, mkt totally sideways. Reducing SL bu no idea where to place it?? Present SL is at 3031.

you may revise TSL to 3023.IMO..

 

[angira]

short @ 3047

angira...

 

[angira]

exited @ 3037.

angira...

 

[gkpc]

I barely made small profit yesterday in crude by trading as per modifications. Trading it as per system by rh6996 would be much profitable.
So my conclusion is that to trade limited with small target in mind rh6996's original system is good works also on sideways days whereas the addition of Supertrend does not work good on sideways days but boosts the returns on trending days.