Today's Buy Levels

nitunku5021a,

My broker is India Bulls since long,their PIB s/w has chart facility.
My RT data is seperate ,it goes to my Meatastock.
Building a system is beyond my capabilities ,i only have few rudimentary Set Ups.
Plz dont go my today's profit this is a random lucky day only.

Asish

As i am dumb & reaction time is more so i have made a Set up with colors so even a dumb like me can
follow.I normally dont trade Nifty Fut my favourite is Stock Futures.

How to interpret the charts:=

1) On The Last bar of the Previous Day " A GENERAL TREND BIAS " is displayed at specific price level
It has 2 Dots White & Green
a) If the Green dot is above White one then the Day's Trend is (-) ve Bias & vice versa.
b) Position sizing will be double if present price is above this bias level for Longs & double for Shorts if
the present price is below this bias level.
b) If both are on same price then very strong trend ( means position sizing is more means 4 times
becoz risk is less)

2) The 4 color band is the " MOB "( Make or Break)

a) This MOB if broken from up ; means price penetrates this MOB & goes down then Buy Trend reversed
b) If this MOB is broken from below then Short trend is reversed.
c) Never initiate any position when Price is Flirting in between this Bands & we will only take our decision
at the 1st retracement or pull back after this levels are penetrated.
a)This band is a confluence zone if price is below this then generally we will Short if Price above this then
we will long But if this Bands are below GENERAL TREND BIAS & price below MOB then the Longs
(position sizing will be half in my case only 1lot)

GENERALLY PRICE WILL COME NEAR MOB AT SIFNIFICANT TREND REVERSAL TIME OTHERWISE
daily we will get "General Trend Bias"

Now in the begining of the day at 9.56's 1st bar input we know the Bias & Position sizing is known
Risk for Long & Risk for Short is told to us.

Now we will initiate Orders by looking at the color of the bar.

3) The color of the bar will tell us what to do;
a)if red then sell if blue buy but if black bar ( without color) negates the earlier color or trend.
b) So we will take position at 9.56 only after the black bars on the 1st color bar.
c) SL is below the Low of the earlier Black or non color Bars lowest low.
d) We will bring the SL up for Longs & down for Shorts on the 1st sign of black or non color
bar to the immediate bar's High or Low.

There are 10 charts of 1min from 17th 9.56am's bar till today's 3.27's bar. for your perusal ,till date i
have never given this systems chart today being an Auspicious day of Maha - Ashtami i bring this out.

http://www.************/file/26867889...10_charts.html

i m able to download but the .rar seems to be corrupt [] tried 2 times ashish da... can u plz try to upload it @ www.esnips.com

Ok try this one.

http://www.************/file/26872310...ew_charts.html


Plz tell me OK ?

yep its working...got it...now will study these...and 1 more thing i want ...that is ur advice on going into FnO section.

My queries on this are

1) How much min. money i need to block

2) How much wud be the risk ( i am aksing if i follow proper money mngmt. How much is the usual stop loss risk we shud carry with Futures. )

Thanks
Nitin

Hello Sir

Have downloaded the charts will study them and revert back to you. I am trying to go through the 3 day chart cv had uploaded

One more thing, do you have a documented Trading Plan, if yes when did you do it, and did it help in your trading?

As usual, no hurry to reply to my queries, can wait till after puja

Happy Puja and festivities
Thanks
nb

PS:
After reading your message (more than once) i have realized that you have given out to me your entire system/method in a single post. At this time I do not know how much it will help me (as it depends on my own competency or lack of it). I can't express my emotions of gratitude, just can say Thank You Sir once again

Thanks
nb

That would be generous of Asish. If i were him, testing a system for years together and fine tuning it..., i wouldn't have given it out. May be that is why Asish is Asish and karthick is me ... ;-)
This is great of Asish. I, being a rookie in trading, feel people like Asish, Saint, AMITBE are making me feel small and at the same time stronger...
Thanks Guys.

thanks for sharing it......

Thanks for sharing your setup....
Can you throw some light on the "Make or break"? Is it a tech indicator?
sorry if my question is dumb!

Yes ,as it is a price derivative hence MOB is a Tech.indicator,though the name is loaned from Tom Joseph but the construction is nothing to do with Mr Joseph's one.
Mr Joseph has used that to estimate a probable Tgt area after the completion of a 5 wave
(impulse-correction-impulse) pattern.
Mine one is different except the name part.( i liked the name)

The name itself is descriptive "Make or Break" of a Trend.
Price flirting in this cofluence zone will either Reverse the Trend & Make a new trend or Break the chance of reversal .