Intraday profit system
- Thread starter Debarghya Mukherjee
- Start date
- Tags day trading intraday profit
Debarghya, I also got your PM. Sorry for the misunderstanding I created.
No, it means you are trying. You are experimenting. What this also means is the more you learn, the more you find there is to learn. That process only comes from the initial experimentation, and in due process learning will come with experience.
I've been trading and forecasting the markets for 7 years. If someone wrote me that exact comment, they would be right. I find the learning never ends. Even though I'm good at what I do, once I think I have arrived, I'm doomed.
LOL, okay, I should pull all my money out of the markets, and then it will be okay. But then, I don't figure on doing that anytime soon. I love doing this.
I hope I cleared everything up.
No, it means you are trying. You are experimenting. What this also means is the more you learn, the more you find there is to learn. That process only comes from the initial experimentation, and in due process learning will come with experience.
I've been trading and forecasting the markets for 7 years. If someone wrote me that exact comment, they would be right. I find the learning never ends. Even though I'm good at what I do, once I think I have arrived, I'm doomed.
LOL, okay, I should pull all my money out of the markets, and then it will be okay. But then, I don't figure on doing that anytime soon. I love doing this.
I hope I cleared everything up.
Timepass, I'm more outgoing than for my good at times. Especially when it comes to charts, I always have an opinion or a comment to make. I just don't like to be intrusive.
I'm hearing that a lot lately, and that is to sell at a lower level or buy at a higher level. Many people seems to want to use the stochastics the same way you do the RSI. When RSI hits OS and still keeps pointing south, go short and hang on for about 3 candles. RSI indicates that one more strong move is left before the reversal (That's the rule that works a high percentage of the time.
With the stochastics, you can't do that. When it is OS, it is saying not "Go long", but "Get ready to go long." There is a difference. You sure cannot use an oscillator as a standalone.
As far as what you are relating to stochastic divergence, I don't know what it is.
I'm hearing that a lot lately, and that is to sell at a lower level or buy at a higher level. Many people seems to want to use the stochastics the same way you do the RSI. When RSI hits OS and still keeps pointing south, go short and hang on for about 3 candles. RSI indicates that one more strong move is left before the reversal (That's the rule that works a high percentage of the time.
With the stochastics, you can't do that. When it is OS, it is saying not "Go long", but "Get ready to go long." There is a difference. You sure cannot use an oscillator as a standalone.
As far as what you are relating to stochastic divergence, I don't know what it is.
Sharekhan's trade tiger. BTW Mukherjee, which version of TT are you using ?
The first question was to Mukherjee, because he mentioned something about stochs at 16 for sell..
Pips, your input is most welcome, you know that
. The same for the general assembly.
.
The first question was to Mukherjee, because he mentioned something about stochs at 16 for sell..
Pips, your input is most welcome, you know that
. The same for the general assembly..
Debarghya. I'll share in your thread what you asked me in a PM regarding my opinion about the Gann and the DeMark system.
DeMark is most known by his TL's. His TL's are drawn from the 2 recent swing lows in an uptrend (Highs in a DOWN.). The idea is that once the TL is broken the length from the point is broken will be equal to the recent swing high to the TL. This is the rule, so it happens for the most part. We still need to look at it in lieu of being traders, and not just to make something look good on a graph. The moment price is crossing the TL the trader would not know if it is the real deal or a wick spike. So, even though the move is crystallizing right before your eyes, you still have not been able to transform it into its monetary equivalent.
I plotted my TL on the chart to show why I like my method of TL usage more. (BTW, both methods can be taught just as easily, so it's up to the trader to choose. I did a thread on my TL's.). Mine is drawn from the dip to the 1st swing low (Peak to 1st swing high in a downtrend.)Look at what happened when the TL was broken. Usually it will be a long candle that will break the TL. Once it is broken, there will be a pull back to it, as it will act as R. That is the point to expedite the trade.
This is the difference. You get the cue for the trade when the TL is broken. You calmly wait for the correction back to it, and then enter your trade. With DeMark's way, the line is broken, and you know where the price is headed, and then you scramble for an entry, and hope it is not a wick spike.
I plotted his pivots on the chart. Price reaction looks good on the charts. I've also did a lot of studying of his pivots in the past. This is JMO, but I had trouble ascertaining its tradable equivalent.
As far as Gann is concerned, his method is effective. There are people making money off his his formula. I have the e-book which is 209 pages long if someone is interested. I think I can post it somewhere for anyone to download if they want it.
It does take some study, and the concepts are applicable. Another thing I can say about it is that if you learn it and trade by, you look really smart. Bottom line, I like any system that produces consistent winning trades. Once learned, this will.
DeMark is most known by his TL's. His TL's are drawn from the 2 recent swing lows in an uptrend (Highs in a DOWN.). The idea is that once the TL is broken the length from the point is broken will be equal to the recent swing high to the TL. This is the rule, so it happens for the most part. We still need to look at it in lieu of being traders, and not just to make something look good on a graph. The moment price is crossing the TL the trader would not know if it is the real deal or a wick spike. So, even though the move is crystallizing right before your eyes, you still have not been able to transform it into its monetary equivalent.
I plotted my TL on the chart to show why I like my method of TL usage more. (BTW, both methods can be taught just as easily, so it's up to the trader to choose. I did a thread on my TL's.). Mine is drawn from the dip to the 1st swing low (Peak to 1st swing high in a downtrend.)Look at what happened when the TL was broken. Usually it will be a long candle that will break the TL. Once it is broken, there will be a pull back to it, as it will act as R. That is the point to expedite the trade.
This is the difference. You get the cue for the trade when the TL is broken. You calmly wait for the correction back to it, and then enter your trade. With DeMark's way, the line is broken, and you know where the price is headed, and then you scramble for an entry, and hope it is not a wick spike.
I plotted his pivots on the chart. Price reaction looks good on the charts. I've also did a lot of studying of his pivots in the past. This is JMO, but I had trouble ascertaining its tradable equivalent.
As far as Gann is concerned, his method is effective. There are people making money off his his formula. I have the e-book which is 209 pages long if someone is interested. I think I can post it somewhere for anyone to download if they want it.
It does take some study, and the concepts are applicable. Another thing I can say about it is that if you learn it and trade by, you look really smart. Bottom line, I like any system that produces consistent winning trades. Once learned, this will.
Good Morning Sir,
Thank you for your detail discussion.
As you said that "Bottom line, I like any system that produces consistent winning trades. Once learned, this will."
Very true for any system. What I believe that there is no system that can give you 100% winning rate. But if 6 out of 10 is winning trade and you have a solid money management plan along with good stop loss strategy, 6 winning trade can give you good return. What is your opinion?
Now my second question is that I use normal broker terminal for trading. No any other special charting software. So is it possible for me to calculate TD trend line and follow his 9 days, 3 days etc etc? What I think is that if anybody has Amiborker or MT then he can follow TD system. Am I right?
Sir I found GANN system is easy to follow. Even though it is too easy to follow(if I dont make mistake to understand it). All it said that take average trade price of first 15-30 min trading. Then put it on GANN table. Now just follow the table data for trigger price stop loss and target price.
Isnt it too easy? Or there are some catch?
I have little request to you, that is if GANN system can be use with concrete trading plan, then please share with us. Many said that GANN square 9 can be useful to use along with MA cross over system, somebody said with other indicator. Some said just use GANN data, thats it.
Then how to proceed?
Thank you for your detail discussion.
As you said that "Bottom line, I like any system that produces consistent winning trades. Once learned, this will."
Very true for any system. What I believe that there is no system that can give you 100% winning rate. But if 6 out of 10 is winning trade and you have a solid money management plan along with good stop loss strategy, 6 winning trade can give you good return. What is your opinion?
Now my second question is that I use normal broker terminal for trading. No any other special charting software. So is it possible for me to calculate TD trend line and follow his 9 days, 3 days etc etc? What I think is that if anybody has Amiborker or MT then he can follow TD system. Am I right?
Sir I found GANN system is easy to follow. Even though it is too easy to follow(if I dont make mistake to understand it). All it said that take average trade price of first 15-30 min trading. Then put it on GANN table. Now just follow the table data for trigger price stop loss and target price.
Isnt it too easy? Or there are some catch?
I have little request to you, that is if GANN system can be use with concrete trading plan, then please share with us. Many said that GANN square 9 can be useful to use along with MA cross over system, somebody said with other indicator. Some said just use GANN data, thats it.
Then how to proceed?
Hello timepass,
Currently I am using new version of Trade tiger. But some said that old version is better. I got both of them, but currently using new version.
I am currently using ADX(14) and value of ADX(14) must be greater or equal to 16. And it also must increasing. I hope this will clear your doubt.
Currently I am using new version of Trade tiger. But some said that old version is better. I got both of them, but currently using new version.
I am currently using ADX(14) and value of ADX(14) must be greater or equal to 16. And it also must increasing. I hope this will clear your doubt.
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