Want Intraday trading method? look here

rvlv

Active Member
#1
HI friends

Here is rule.
observe- confirm or reject-post chart to confirm.

1.On the intraday charts,Price takes a strong support most of the time at 200MA on 60 minute chart-remember two conditions are must(60min chart,200ma line,evidence of price bouncing thre earlier,pivot lines R1,PP,S1 and more if price needs.)
CHEERS
rvlv
 
#2
HI friends

Here is rule.
observe- confirm or reject-post chart to confirm.

1.On the intraday charts,Price takes a strong support most of the time at 200MA on 60 minute chart-remember two conditions are must(60min chart,200ma line,evidence of price bouncing thre earlier,pivot lines R1,PP,S1 and more if price needs.)
CHEERS
rvlv
I agree with you.

However I would like to add that on trading 60 minute chart based on 200 SMA means a swing trading technique as if price crosses up 200 MA then it tends to remain above it for longer period of time and same is the case when price crosses down 200 MA. Price will generally take support or meet resistance at a mid term MA like 50 SMA even before 200 MA.
 

rvlv

Active Member
#3
Hi rockyrobust

Well Let us carry this following mindset-at least give a try.

With every opportunity,you invite risk.
Are you looking to only find the problem? or rise above the problem and look for unique solution? Think it -We are here to handle & solve the problem & overcome it.

IN MARKET,YOU NEED TO OUT-THINK YOUR COMPETITION-and this is no easy job-but it can be done.
SomeHow i dont agree with 50ma thing.But we need to investigate.

But here is my solution.
just add 2*ATR(10) ,4*atr(10) TO 200MA on hourly chart you get target level 1 and target level2 and so on.
Keep moderate expectation and take profit as targets are hit-dont be greedy.
Of course your stoploss can be atr(10) below 200ma OR EVEN 0.25*atr(10) or 0.5*atr(10).
test it get confidence and then use it.

One more thing

Every time price approaches the 200 MA after a downtrend, the first time is called old girl friend syndrome.
Suppose a guy had a girl friend and he did not visit her long time-no calls-no gifts-no visits.
now suddenly he feels for her and goes and knocks her door-she opens it but doesnt allow him in as she is obviously angry for his ignoring her so long.
she questions him -why so long you forgot about me & suddenly remember me now?you never called-never sent greetings or gifts-never visited me in 5-6 months-she shuts the door.NO ENTRY.
Now the guy thinks,goes back,buys flowers,gifts and goeS back begS her she opens door,allows him in.

This is same way price reaches 200ma after a while it doesnt allow price to pass thru but sends it back.
price goes down-revisits 200ma now with renewed vigour. this time(since second visiT,with flowers,gifts etc),price is allowed to go thru.

POINT to note
CREATE YOUR OWN TARGETS AND STOPLOSS WHEREVER YOU ARE.
MANAGE THINGS.DONT BE AN ONLOOKER-SILENT SPECTATOR.
 

RDutt

Active Member
#4
Thanks,
nice insight with philosophical example. :clapping:

But, I'm afraid, market is neither a friend nor foe,
has no mood, knows no one, its own its own, unpredictable,
uncontrollable, none understanding.
 

jagankris

Well-Known Member
#5
Dear RVLV,

Thanks for your method.
But not sure how 200 MA on a 60 M or hourly charts could be used for intraday on a daily basis.
The yellow dotted lines are daily pivots and S&R.
Is it a positional trade ?
Pls find attached Nifty chart.
Could you pls explain more in detail.
Thanks in advance.
 
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Bewinner

Well-Known Member
#6
Hi rockyrobust

Well Let us carry this following mindset-at least give a try.

With every opportunity,you invite risk.
Are you looking to only find the problem? or rise above the problem and look for unique solution? Think it -We are here to handle & solve the problem & overcome it.

IN MARKET,YOU NEED TO OUT-THINK YOUR COMPETITION-and this is no easy job-but it can be done.
SomeHow i dont agree with 50ma thing.But we need to investigate.

But here is my solution.
just add 2*ATR(10) ,4*atr(10) TO 200MA on hourly chart you get target level 1 and target level2 and so on.
Keep moderate expectation and take profit as targets are hit-dont be greedy.
Of course your stoploss can be atr(10) below 200ma OR EVEN 0.25*atr(10) or 0.5*atr(10).
test it get confidence and then use it.

One more thing

Every time price approaches the 200 MA after a downtrend, the first time is called old girl friend syndrome.
Suppose a guy had a girl friend and he did not visit her long time-no calls-no gifts-no visits.
now suddenly he feels for her and goes and knocks her door-she opens it but doesnt allow him in as she is obviously angry for his ignoring her so long.
she questions him -why so long you forgot about me & suddenly remember me now?you never called-never sent greetings or gifts-never visited me in 5-6 months-she shuts the door.NO ENTRY.
Now the guy thinks,goes back,buys flowers,gifts and goeS back begS her she opens door,allows him in.

This is same way price reaches 200ma after a while it doesnt allow price to pass thru but sends it back.
price goes down-revisits 200ma now with renewed vigour. this time(since second visiT,with flowers,gifts etc),price is allowed to go thru.

POINT to note
CREATE YOUR OWN TARGETS AND STOPLOSS WHEREVER YOU ARE.
MANAGE THINGS.DONT BE AN ONLOOKER-SILENT SPECTATOR.
Do u have this afl with you? can u post it?
 
#8
@ rvlv ,


I agree with your viewpoint absolutely. I was just referring to 50 MA because for an Intraday trade price is not going to test 200 MA frequently. So the trade becomes a swing trade with this method. For swing trade this strategy is quite good.

USDINR crossed 200 SMA on 10th May 2013 on hourly chart .

The Blue Line is the 50 SMA .

 

rvlv

Active Member
#9
Hi Rockyrobust
thank you.

I agree with you to some extent.
Your chart seems really clear data looks good.
what is your data source please.

OK.
Let me say,we go with 50ma.
I ask you one simple question.
give me reply after some days,not urgently.

Suppose you checked your chart and checked say ,200 such observations,what will be success rate approximately?
If in 200 observations,at least 130 are success then we are ready to go with your idea.
Please dont think this as a trouble-it is just that we are generating a basis for judgement.

If statistically the 50ma holds a master key,let us go with it.
I will try it myself.

All the best
regards
rvlv
 

rvlv

Active Member
#10
Hi friends
one way to look at it is use an oscillator to confirm the price action.

If the oscillator is not price based,it is better and likely to be more efficient.
Like, volume, is an independent parameter.

When you use two uncorrelated things,result is generally better.

look at chart here to get some ideas.
Remember Target & Stoploss are critical to trading success.

cheers
rvlv

 
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