Day Trading with Pivot Points and MACD Indicator

Great! keep it up.

Today Ambuja Cements has not given any signals.

There is no valid Cross up/Down before the price crossed up/down except at the end of the session. Before end of the session, i wont trade because my trading platform doesnot allow trade.

Since Morning MACD is hovering above the line, there is no valid crossing.
Around 1:30 PM there was a crossing of MACD but that is after the price. Hence not valid for a trade.

Kindly examine the chart. It is very tempting to go for trades at two or three places. But for signal I didnot do trade.

Next week, I will go for another scrip. Also I will consider position sizing, stoploss/trailing stop loss, reversing the positions after stop loss hit by doubling the position etc etc.

The basic problem with Ambuja Cements is that it has lot of gaps in the price movements, thus forcing us to miss some golden opportunities. As per the advice of AW-10, we should look for a scrip which is going to explode next day after NR-7. But it has to be within our price range of below Rs.200/-

Can u help me find this thread......... I have looked for it But In vain....:annoyed:

Thanks

Hi...chaitnya....donot be annoyed..

Here is the link, what you have been looking for
http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup-81.html#post377204:)

Thanks Veluri

Hi Veluri,

I am new to your thread (regular reader of Mr.SG thread, NF pivot points).
What is MACD is setup? Like (12,26,9) or different?

Regards,
Keerthi

I follow MACD with usual settings ie 26,12,9. For a smoothed MACD use a higher timeframe ie 2 min, 3 min, 5 min, 10 min or 15 min whichever is suitable to you for better signals and confirmation. Thats it.

Hi...friends...

Today is the last trading day with Ambuja Cements.

There is no trading signal in Ambuja Cements. Entire day the price moved between R1 and Pivot Point. Just for observation, i have drawn a midpoint between R1 and Pivot Point checked if any trade can be done. Not done actual trades. The line drawn on the chart is midpoint line between R1 and PP but not actual Pivot Point line.

This week's summary of trades undertaken and its result is summerised below for information.

30th - No signals and hence no trades.

29th - No signals and hence no trades.

28th - A total of 5 signals. Not traded in 2 signals due to time constraints or unfilled order. One STOP LOSS hit. Two Profit Target hits.

27th - A total of 2 signals. One Profit Target hit. One failed to hit either STOP LOSS or Profit Target, but closed in profit.

26th - A total of 2 signals. One STOP LOSS hit. Not traded in 1 signal due to time constraints.

A total of 9 signals in the week. Not traded in 3 signals. 4 Profit hits (included 1 trade which has neither resulted in STOP LOSS nor Profit hit but closed before trading closure in Profit). 2 STOP LOSS hits.

A profit of Rs.214 on a capital of Rs.5,000/- giving a profit of 4.28% in a week.

Hi veluri,

Please reduce the chart size.Perhaps a software
MWSwap might help you.

Hi
posting an afl which draws piviot point on the chart for the next trading day automatically will be fine.
A buy and sell signal or markings on this price chart corresponding to MACD cross overs at the second chart may add further flavour.
An expoloration or scan on such moves can reduse the time to explore indiviually the stocks for this .
Instead of only ambuja cement waiting for an trade u will get another opertunity in some other stock as the priciple involved is the same in all cases.
this is only an suggestion. afl gurus pl work on it to improve the method/set ups

ravi