Thoughts on Day/Swing Trading

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anayash

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rangarajan

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You can post your compilation. I will be happy if it is useful to any of the reader members, present and future....

Hardcover copy ? You got the compilation printed and hard bound ? Never knew whatever I wrote out of experience was so useful to others. There is not even a single paragraph / post which is done by copy pasting any material from the net , book or any other source.All written by me out of my own trading experience. I am happy that you found it useful.

Smart_trade
My compliments Smart.
Whatever little i had/have learnt from yr threads esp on Divergence,i had taught to many youngsters in the trading room & believe me,many have immensely benefitted by making Right entries ,at the Right time ,at the Right price & profitted.
Credit goes to you fully.
Yr methods suit Indian Psychology.:)
 

VIKAS 21

Well-Known Member
Vikas,

Which particular day you want entries and exits to be shown ? If possible I will post the likely trades on that day during the coming weekend. Someone else can also post some charts....just to practice trades on the method.

ST

Thanks a lot sir,
i have started trading as per this method & also by using your 5 bar oscillator method for confirmation too, just wanna cross check my trades & wanna improve if any mistake with your guideline as well as other senior members, as if somebody can post trade taken on day end by this method.
 

avad

Well-Known Member
This strategy is based on 30min chart. Trade is taken as per the trend, after
identifying a small inside bar.

For a buy:

Risk = Range of the small inside bar.

Entry = High of the above small inside bar

1st Target (Exit 1/3) - When price reaches your Entry Price + Risk
(Here, move your stop loss to the Entry Price)

2nd Target (Exit 1/3) - When price reaches your Entry Price + (2 times Risk)

3rd Target (Exit remaining) - When price reaches your Entry Price + (3 times Risk)

Opposite for a sell.

So, it doesn't matter whether you look at a 30min chart or a 5 min chart.
Exits are as per pre-determined levels, they are not as per pivots.

Hope this helps you..
Ok. I did something weird but it worked.
Actually i did the following today---

before market picked up 3 stocks--cipla,rcom,dlf by looking at 30min charts along with 21sma.

Criteria for selection-
1.slope of 21sma was good(upwards).and not touching the bars.
2.30 min was in uptrend visually

So took long trade on cipla after pivot break to upside on 5 min. Made 2 later adds and exited at a good positiion.

Dlf failed and gave a pivot break on 30 indicating down movement but skipped the trade as i was not confident.

Rcom also gave a good trade later in the day but i missed the move as i was busy with some other work.
As you can see i tried combined 30-5min dual tf with 21sma.
I will also post the charts, seniors plz comment.
 

avad

Well-Known Member
Cipla 30 uptrend, 21 sma having good slope.


I took following trades.
1--long at 311.05 sl-309.96
add at 312.30 sl moved to 311.55
add at 312.65 sl moved to 311.80

All out at 312.80 after pivot break.

 
Trade on Rcom which i missed.


on 5mins

Trading 5 min chart in the direction of 30 min trend is a very good method...

Your entry is good, exit can be improved. When you saw the market unable to clear the top in 2 attempts, take 50-75 % profits at the higher side of the sideways move...rest 25-50 % at white line shown by you.If the market breaks out of sideways on the upside, you could enter again....

Smart_trade
 
Cipla 30 uptrend, 21 sma having good slope.


I took following trades.
1--long at 311.05 sl-309.96
add at 312.30 sl moved to 311.55
add at 312.65 sl moved to 311.80

All out at 312.80 after pivot break.

Here again entry and adds are perfect....exit a bit late...once market is unable to clear the top and goes sideways for 5-6 bars, start booking profits.....last portion at the place shown by you....

Daytrading and Position trading need different mindset. In daytrading we have to grab the profits when the market halts going in our direction and unable to clear top/bottom in 5-6 bars...we cannot afford to sit in the position during corrective moves as it evaporates our profits....in position trades we sit through the correction and let the market go higher . In daytrades we book the profits and re-enter if necessary on fresh breakouts.

Smart_trade
 

avad

Well-Known Member
By the way i have selected some stocks for tomorrow based on the criteria i mentioned.

BHEL---FOR LONGS
RENUKA---FOR SHORTS
LT---FOR LONGS
HDFC---FOR LONGS
JPASSO--FOR LONGS
STER---FOR LONGS

!-21sma slope is good.
2.visually in uptrend(downtrend begun for renuka)
It would be great if seniors could see the charts and comment as it would be a waste of space is i post the charts here simply for confirmation.

Also i didnot select stocks which 21 sma was intersecting with bars
like---
Tatamotors
tcs
 
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