Pride's Intra-Day Strategy [Profit Everyday]

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Rajadhiraj

Well-Known Member
#41
Hello Pride

You were talking about improvements ... :thumb:

Here's one suggestion

You use the HTF stoch as a filter

You can test the following condition

Take Long trades even when K30 < D30, but both K30 and D30 are less than 20/25 which means the stoch although is bearish but its also showing an oversold condition, so reversal on 5 min stoch can be profitable, also the EMA should keep you on the right side,

The bet is that on the next 30 mins bar the stoch values K30 and D30 should flip.

Opposite for Short trade can use K30 & D30 > 75/80

Hope it helps
 

.Pride.

Well-Known Member
#42
I think typing mistake?????????????
yes, and corrected. thanks ;)

Guess what..I traded that shrot on paper..made another 12 points there..apart from all the other trades that you have already mentioned.....


But I must say....absolutely amazing work on ur system dude....

It is so uncommon to see traders sharing their profitable systems in public forums like this!!!!

I am sure it will help a lot of traders around!!

Just wanted to say:
:thanx:
ur welcome :)
and about that short trade, i am of the opinion that a trader can take a few discretionary trades if he is convinced... we don't always have to follow a 'system' to the T...after all, thats what separates us from the algorithm driven trading bots used by hedge funds etc

Hello Pride

You were talking about improvements ...

Here's one suggestion

You use the HTF stoch as a filter

You can test the following condition

Take Long trades even when K30 < D30, but both K30 and D30 are less than 20/25 which means the stoch although is bearish but its also showing an oversold condition, so reversal on 5 min stoch can be profitable, also the EMA should keep you on the right side,

The bet is that on the next 30 mins bar the stoch values K30 and D30 should flip.

Opposite for Short trade can use K30 & D30 > 75/80

Hope it helps
thanks for taking interest and suggesting a tweak in the system Dhiraj :)
but my brain is currently in 'do not disturb' mode, after a long hectic week...will take a look at your suggestion tonight.

Regards
Pride
 

.Pride.

Well-Known Member
#43
Dhiraj, while it might be profitable to take positions when the stoch is in overbought/oversold region even though no crossover has taken place, a risk that we face is that the ema might cross back due to lack of momentum and our stoploss will get hit.

Sometimes what happens is that the ema crossover, while stoch keeps going deeper into the overbought/oversold region, and soon, the ema cross back.

But it might be that this happens less frequently. I'll have to see some past charts to come to a conclusion. But for now, it seems that what you have said is true, and we might be able to take some good trades which earlier might have been missed out due to 30min stoch reacting late.
 

ag_fx

Well-Known Member
#44
Pride, If you dont mind me asking this, can you tell me for how long have you been trading this system Live and on what all counters? I know NF is definately one, but have you tried this Live on any other scrip?


Happy Trading
 

.Pride.

Well-Known Member
#45
i've been trading for the past 5 years, but developed this system last year, paper traded for a while with this, and have been using it since the beginning of 2009.

I trade only Nifty Futures. I have a very busy schedule which is very unfavourable for trading, and on some days I miss the triggers as I am not on my PC due to other work...
so, for me, actual trading has been erratic, as on some days I am absent from trading completely, and on some others I am not able to stay online all day.
But on those days that I am actually able to use this system, it has always been profitable, and on the days that I miss trading, I see the charts in the evening and feel bad, as I see that this system would have given me profits on those days too :p

This system has shown losses only on about 2-5% of the days that I have tested it, and that too because stops kept triggering all day on extremely choppy days...
and even on such days, losses have been limited to 15-25 points, while the profitable days have averaged 35+ points :)
 
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ag_fx

Well-Known Member
#47
first trade of the day:

Sold @ 4327 as ema crossover + bearish 5min stoch + 30min stoch overbought and just about to crossover

Squared off @ 4299 as 5min stoch crossed back.
It seems today you prempted the 30 min stoch crossover. The other day you stayed away from such trade. Any reasons?
I dint take this trade only because of this reason that 30 min hadnt crossed when the trade you mentioned was to take place.
 

.Pride.

Well-Known Member
#48
yes, the reason was that I was going through some past data to see what Dhiraj's recommendation would result in...though I could not backtest it over a substantial period due to lack of time, it was profitable most of the time.
So I thought I'll rather trade with it and see for myself, instead of more backtesting.

This was more of an experimental trade :)
 

ag_fx

Well-Known Member
#49
yes, the reason was that I was going through some past data to see what Dhiraj's recommendation would result in...though I could not backtest it over a substantial period due to lack of time, it was profitable most of the time.
So I thought I'll rather trade with it and see for myself, instead of more backtesting.

This was more of an experimental trade :)
I have heard of Dhuiraj's method.Could you please illustrate any imp points from the method here, which implied for this trade?
 
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