My trading system

XRAY27

Well-Known Member
#1
Dear,

TJ members,

Many are sending me PM/s regarding my method of trading..which i have shared in thread "daytradingfutures" under derivatives...due to high rate/s of posting people are finding difficult to find that..so i will update my method of trading.. by evening..:):)
 
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XRAY27

Well-Known Member
#2
Dear TJ's

1.First of all thanks to all the members who's thought provoking posts had made me to improve my earning's and performance

2.I am just trading nifty fut and nifty options with top down approach which is based on price action...

3.Price action is nothing but observing the price along with trend of overall time without indicator..to get a trade set up

4.We all know that in trading higher time frame rules in maximum number of instances
 

XRAY27

Well-Known Member
#4
Good going...keep it up.

Smart_trade
Dada... This is simple copy of what you and many members tought through various threads... which are added to my earlier PA methods ..offcourse..some internet source which i cannot ignore and other points i observed in live trade :)
 

XRAY27

Well-Known Member
#5
MINIMUM LEVEL OF KNOWLEDGE:

1.WHAT IS A PIVOT/SWING ??
2.WHAT IS BREAK OUT ??
3.WHAT IS TREND ??
4.WHAT IS CONSOLIDATION ??
5.WHAT IS SUPPORT AND RESISTANCE ??
6.USE OF TREND LINE
7.SOME BASIC LINEAR PATTERNS

NOTE:pLEASE REFER VARIOUS THREAD/S OF SAINT SIR,ST SIR ,AVNY SIR REGARDING THIS...

PREPARATION:


1. I HAVE DIVIDED MY TIME OF STUDY IN THREE SEGMENTS

A)HTF:HIGHER TIME FRAME ---MARKING TREND
B)LTF:LOWER TIME FRAME---- TO REDUCE REACTION TIME
C)TTF:TRADE TIME FRAME---- ENTRY TIME FOR TRADE SET UP

IAM USING A HTF/LTF/TTF AS 30MIN/5MIN/1MIN.WHICH YOU ALL KNOW

2. IF PEOPLE WANT TO TRADE 5 MIN AS TTF THEN 30 MIN WILL BE LTF AND 4 HOUR WILL BE THERE HTF...

3. RULES FOR THIS SELECTION OF TIME FRAME/S IS MULTIPLY TIME FRAME WHICH YOU ARE TRADING WITH 5 TO 6 TIMES

DRAWBACKS OF THIS METHOD:


1. THIS IS PRICE ACTION METHOD..SO USER DISCRETION IS NEEDED

2. BACK TESTING CAN BE DONE THROUGH MANUAL EFFORT/S ONLY

3. LOT OF PRACTISE IS NEEDED

4. MAY NOT SUIT FOR ALL THE PERSON/S ESPECIALLY FOR PEOPLE WHO DOES'NT LIKE PRICE ACTION WITHOUT INDICATORS

A system which works for me may not work for you....With same method one person will make fortune.....another person will....lose his fortune...(TJ ID:OMSAI)

5. STOPLOSS ORDER/S ARE MUST..FOR EACH ENTRY


POINTS TO REMEMBER

1.


2.



3.TRADING MANTRA :pROTECT CAPITAL AND RESPECT MARKET



THESE IMAGE/S ARE NET COLLECTION WHICH I HAVE POSTED IN MY OTHER THREAD WHICH I LIKE MOST...
 
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XRAY27

Well-Known Member
#6
Rules of system:

1. Identiftying trend in HTF

2. Taking the time to have closure look in LTF

3. Entrying trade with swing which are less then 20 points in TTF

4. Booking 50% after covering the initial risk,remaining TSL

5. Sl order is must

6. If three trade/s continuously hit sl then sit quite for the day

Nifty options:

1. Strike price should be near one to nifty future

2. Trading with direct option price chart

3. Max pain for nifty option for previous trading day as one of decision point.
 
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XRAY27

Well-Known Member
#7
30 MIN STUDY

FIND THE AREA OF DEMAND AND SUPPY... WHICH MEANS DRAWING SUPPORT AND RESISTANCE LINES WHERE THE LEVELS ARE RETESTED/REJECTED

(This chart is from my previous post/s)



POINTS TO BE DRAWN FROM 30 MIN

1. 8186 TO 8165 IS SUPPLY AREA AND
2. 8112 TO 8095 IS DEMAND AREA
3. 8050 IS THE MAX PAIN WHICH WILL ACT AS DYNAMIC LEVEL
 
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XRAY27

Well-Known Member
#8
LET US LOOK AT LTF (5 MIN CHART)

MARKET OPENED GAP DOWN WHICH DOES NOT VIOLATE THE 8050 LEVEL OF MAX PAIN AND TAKING SUPPORT WHICH IS SHOWN BY LOWER SHADOWS MARKETED IN CIRCLE

 

XRAY27

Well-Known Member
#9
LET US LOOK (TTF)..1 MIN

( chart is of 22 SEP 2014)

EARLIER I USED PRATAP SIR AFL FOR PROFIT BOOKING...

 
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XRAY27

Well-Known Member
#10
Conclusion:

1. I have violated my rule on this day...for a momentum basicing on other person idea's which costed one more trade which it sl... when i recouped with my rules it saved me and result is good

2. Short trade/s are same with supply zone execution...

3. Finally i have presented my setup in best possible way...



Thanking you all tj's for patiently reading this thread
 
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