Awesome intraday strategy!But needs filter

#11
So the basic issue is that the system overall is doing well but thing is it generates at least 9-10 scrips on many days in and its difficult to know which out of the the 10 will do well unless you take all the trades and you have that much capital.
"That" no one knows and no one can know. Had anybody known that, its game over for all! Come out of that predictive mentality and think in probabilities. Feed and nurture your instinct, bro ;)
Btw Last 5 days 34 trades were generated with an avg profit of Rs.10,000/.
What else you are looking for! Stick to your plan, that's all the edge you have got. You are fine! You just need some Mark Douglas tonic. Watch all four videos with a keen mindset to absorb his lessons. Also read his Trading in the Zone, The Disciplined Trader. You will do great!
All the best :up:
 
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niftytaurus

Well-Known Member
#13
hi
As you said, in 2 monthes, average profit is Rs 2000 per trade & from last 5 days, it is Rs 10000 Rs.you meant in 34 trades, you get 3.40 lacs rs in 5days.but is it real trade or paper trade? how are you calculating profit?
First you could not decide profit like that.You have to answer few questions
a) whats your capital? how much percentage of risk % of capital , you take on every trade?that matters a lot
b) how many stocks do you have in your watch list? i.e , on what list do you scan? I meant you scan 100 stocks, or nifty 5o or 2000 stocks

MM can be your solution.if you can give idea about your position size & risk factor, I can suggest you something
thanks
 
#15
hi
As you said, in 2 monthes, average profit is Rs 2000 per trade & from last 5 days, it is Rs 10000 Rs.you meant in 34 trades, you get 3.40 lacs rs in 5days.but is it real trade or paper trade? how are you calculating profit?
First you could not decide profit like that.You have to answer few questions
a) whats your capital? how much percentage of risk % of capital , you take on every trade?that matters a lot
b) how many stocks do you have in your watch list? i.e , on what list do you scan? I meant you scan 100 stocks, or nifty 5o or 2000 stocks

MM can be your solution.if you can give idea about your position size & risk factor, I can suggest you something
thanks
ok so firstly i am strictly looking at stocks in f&o nothing beyond that..

secondly -yes for those five days the system did well as the market generated a lot of smooth trades with average 10,000/. per trade but the average of past months is 2000/.

third-it is paper trade as this system requires a lot of capital sometimes 2-3 trades sometimes 10-12 trades. and one would have to take all trades as you just wont know which will work and which wont...now you can pick and choose but that wont help..maximum % risk per trade is 8000/.

fourth- money management is not my aim right now. Aim is i need an additional filter to distill a lot of losing trades and get more quality trades as there just too many trades being generated.

thanks.
 

pannet1

Well-Known Member
#16
ok so firstly i am strictly looking at stocks in f&o nothing beyond that..

secondly -yes for those five days the system did well as the market generated a lot of smooth trades with average 10,000/. per trade but the average of past months is 2000/.

third-it is paper trade as this system requires a lot of capital sometimes 2-3 trades sometimes 10-12 trades. and one would have to take all trades as you just wont know which will work and which wont...now you can pick and choose but that wont help..maximum % risk per trade is 8000/.

fourth- money management is not my aim right now. Aim is i need an additional filter to distill a lot of losing trades and get more quality trades as there just too many trades being generated.

thanks.
see if the script in question is making (or about to make) a new high or low. also the main point to note down is you are paper trading. there is slippage and execution problems. you chart will not show breakout but the order placed in above or below a candle/bar gets triggered.
 
#17
see if the script in question is making (or about to make) a new high or low. also the main point to note down is you are paper trading. there is slippage and execution problems. you chart will not show breakout but the order placed in above or below a candle/bar gets triggered.
Thanks i have tried that but alot of times many of best trades are missed even though its not ant new high/low...
 

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