Master one trick only

[avny]

Anvy, I have a question. The YTC tals about fine tuning entry/exit with lower TF (1 min in this case). I have tried that but find it difficult becoz chart and sudden movement on 1 min affects decision and makes me doubt my position. Do u look at 1min for decision ? How do u handle it ?

Yes i do look at 1 min TF to fine tune my entry exit,but not all the time,

the trick is,u should use the lower TF for FINE TUNING your entry only

it means first u should decide,in which direction u r going to take trade (long/short),in higher TF,
than,when u decided,which and where,u are going to take trade,than u look at lower TF for an early entry

here is chart of NF 3 min

as the price reached to point 3,it is clear that price in a channel

now as price is nearing to point 4,observe that it is not moving up in a straight line,indicating the lake of strength,so we will be looking for a TST,BOF set up at upper resistence to go SHORT
if u are taking entry as per 3 min chart,than u will enter below the pin bar at 6234.50

now look at 1 min chart,
here your entry will be, below the circled candle at 6236.5

so u are fine tuning your entry by two points

hope it helps

 

[amitrandive]

Motivational story for YTC Fans

http://www.ataa.com.au/file/PR_Dillon_My_intra-day_trading_story_APR12.pdf

 

[avny]

Motivational story for YTC Fans

http://www.ataa.com.au/file/PR_Dillon_My_intra-day_trading_story_APR12.pdf

THANKS AMIT
:clap::clap::clap:

must read it ,if interested in price action trading

 

[manishchan]

Very well explained anvy bro. Thanks !!

Yes i do look at 1 min TF to fine tune my entry exit,but not all the time,

the trick is,u should use the lower TF for FINE TUNING your entry only

it means first u should decide,in which direction u r going to take trade (long/short),in higher TF,
than,when u decided,which and where,u are going to take trade,than u look at lower TF for an early entry

here is chart of NF 3 min

as the price reached to point 3,it is clear that price in a channel

now as price is nearing to point 4,observe that it is not moving up in a straight line,indicating the lake of strength,so we will be looking for a TST,BOF set up at upper resistence to go SHORT
if u are taking entry as per 3 min chart,than u will enter below the pin bar at 6234.50

now look at 1 min chart,
here your entry will be, below the circled candle at 6236.5

so u are fine tuning your entry by two points

hope it helps

 

[avny]

TRADES TODAY

1:short,as price pulled back,from lower support and went down again

2: reverse to long,exit half at EXIT 1,and than price enter into sideways,

3: as trend was down,so reberse to short at 3,exit half at lower ssupport and resst at double bottom

missed the long as price took support around 6200 thrice

 

[manishchan]

Hi Anvy, I took the same trades as you did except the 2nd long. I was very undecisive because priced moved sideways for 3,4 bars. If you can share what made yoi decide to reverse from short to long ?One more ques plz, after your exit 1 point on the chart, there were 2 attempts to go break swing high, is it a fair trade to go short on the failed 2nd attempt ?

TRADES TODAY

1:short,as price pulled back,from lower support and went down again

2: reverse to long,exit half at EXIT 1,and than price enter into sideways,

3: as trend was down,so reberse to short at 3,exit half at lower ssupport and resst at double bottom

missed the long as price took support around 6200 thrice

 

[notherwork]

Sorry for being a newb!!

Gone thru this full topic twice...

But not understanding even half.

How to get the support and resistance.

How to escape from slippage and whipsaws in this system (I dont even know what those words are (I'm very beginner to technical terms and after 1 yr experience in giving 7 lacs to mkt, no more money to give...so trying to get my money back)

Any help is much appreciated...

 

[aaplana]

Just trying my hand, Anvy wud be better to confirm it.

In my view long taken @ 2 is due to BPB at lower range of opening bar and it is also a confirmation of breakdown failure.

Regards
Aaplana

Hi Anvy, I took the same trades as you did except the 2nd long. I was very undecisive because priced moved sideways for 3,4 bars. If you can share what made yoi decide to reverse from short to long ?One more ques plz, after your exit 1 point on the chart, there were 2 attempts to go break swing high, is it a fair trade to go short on the failed 2nd attempt ?

 

[dhananjaybais]

HI Avny. I know that you use only intra-day data and therefore do not require historical data. But just in case if someone requires previous day data white trading then does the broker terminal provide that? I am not in position to pay for the paid services as of now and may opt for that in future if required. Also, if prices are under my budget please suggest the best and cheapest data provider.

Thanks and Regards.

 

[manishchan]

HI Avny. I know that you use only intra-day data and therefore do not require historical data. But just in case if someone requires previous day data white trading then does the broker terminal provide that? I am not in position to pay for the paid services as of now and may opt for that in future if required. Also, if prices are under my budget please suggest the best and cheapest data provider.

Thanks and Regards.

.. Buddy, almost every broker provides at least 5 to 6 daya od intraday data and 4, 5 months of EOD.