General Trading Chat

lemondew

Well-Known Member
For swing whats the gap between mph and mpl you see.
I generally consider points which are good 70 to 100 points away for trade.

Anways i ll just backtest that too...... with break of every pivot

Thanks sir :clap:



That is in day trading.In swing trades I exit the trade if it goes 15 points against me,and re-enter if necessary.These stops are kind of early exits I prefer to take instead of taking a 70 points stop loss.aso these are 2-3 attempts to get a right trade.

ST
 
For swing whats the gap between mph and mpl you see.
I generally consider points which are good 70 to 100 points away for trade.

Anways i ll just backtest that too...... with break of every pivot

Thanks sir :clap:
You are not getting the way I trade swing trades.My system gives a signal when market has reversed and we are 60-70 points away.This level I fine tune.The choice is take a trade and keep a stop loss at swing high which may be 70 nifty points away.Instead of that I take occasional 12-15 points early exits if trade goes against me.It is not hitting a 70 points stop loss but I take exit and re enter.I prefer to trade that way as it gives me trades with small stops.So in fine tuning I may lose 25-30 points but when I catch a trade ,will make 8-10 times that loss.

But this trading suits my mindset,it may not suit everyone....so everyone to follow what suits him.

ST
 

amandeep86

Well-Known Member
Everybody knows when the trade makes a mistake,guess seniors share their winning trades so that everybody can learn.:D
Amit bro,

Your Chart shows that you trade based on Price Pbks to 20 EMA.

I trade a similar method and get lots of trade on 5 TF.

How do u Filter tradees.
 

amitrandive

Well-Known Member
Amit bro,

Your Chart shows that you trade based on Price Pbks to 20 EMA.

I trade a similar method and get lots of trade on 5 TF.

How do u Filter tradees.
Using important support and resistance and chart patterns on daily and hourly timeframe, yes stop losses are hit.Stops are a part of trading business.
But rewards are good.
See today's trade , exited due to consolidation.



5 min chart of Spot Nifty




5 min chart of Nifty7700PE



See some examples
http://www.traderji.com/general-tra...6368-general-trading-chat-18.html#post1127239
http://www.traderji.com/general-tra...368-general-trading-chat-311.html#post1120212
http://www.traderji.com/general-tra...368-general-trading-chat-918.html#post1105910
 
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Another problem in swing trading was gap open against me.Imagine a situation that at 2:45 we get a signal to short and we take a swing trade.Market does not quickly move in our direction and at 3:29 it is 5 points above my entry level.If the trade is not in 25-30 points in profit, I exit the trade.It is telling me that the market is not going down.It may go down tomorrow but it may gap open against me.In most cases next day the market will gap open against me and carry on in the original direction.I am not prepared to take that risk though it is nowhere near my stops.So early exit and try to enter again tomorrow and don't be exposed to overnight position.Someone will argue why get out till it hits the stop loss...it may be right for him...my way is right for me. I am extremely loss averse trader and all these modifications are out of my desire to lose less and take high RR trades.This also is a part of trade fine tuning.

Smart_trade
 
Dear ST
Thanks for the explanation on your trading style. Simple, yet Superb!
Most welcome.I thought I must explain because it probably gave a wrong impression that I take 3 stops for every right trade and I go on taking swing trades on all pivot breaks.People will try to trade that way and harm themselves.Trading on every pivot will drive us insane.

But I am thinking that I should talk less about swing trades as it is creating wrong impressions in the minds of readers and that is dangerous .

ST
 

Fundootrader

Well-Known Member
Looks like we will have tuk tuk nifty tomorrow - with slightly +ve opening given the way world markets are reducing the losses - Dow moved from -300 to -134, DAX too.

Also, China has removed the circiut breakers - either that will lead to massive fall and be done with it or will reduce volatility - tomorrow will tell.

SGX nifty also moved up from -40 points to -11 points -- But overall trend is -ve

Reminds me of Rockstar - -ve bikta hai asani hai
 

Fundootrader

Well-Known Member
Most welcome.I thought I must explain because it probably gave a wrong impression that I take 3 stops for every right trade and I go on taking swing trades on all pivot breaks.People will try to trade that way and harm themselves.Trading on every pivot will drive us insane.

But I am thinking that I should talk less about swing trades as it is creating wrong impressions in the minds of readers and that is dangerous .

ST
I think you should continue talking about swing trades. Most trade discussions are focussed on day trading and your's is only on swing trading - which is essential to learn too. All one needs to understand is all being discussed are best practices and not the system - so one should learn these practices and incorporate in the system one follows and not consider these as system itself.
 

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