Hi,
First of all let me tell you I am not an expert in technical analysis. I am still learning from many gurus here. I am going to explain here an intra day system to trade with copper. So far it is giving me very good results. Thats why i thought to post the system here, so that small traders can try this their own.
The system is very simple. Indicators used here are simply PSAR and Stochastic. And if you know camarilla Pivot points that will give you extra confidence.
Input values for PSAR are step - 0.02 and Maximum 0.2
Stochastic -
%K - 5
Slow 3
%D 3
Levels 20-70
Trade In 15 Min Charts . Whenever A New Psar Signal Comes Have A Look At The Current Trend With Stochastic. Suppose If We Gets A Buy Stop In Psar Check Whether Stoc. Is Over Sold Or Gaining Up From Down. If So Go Long In Mcx. Other Wise Leave The Trade. Similarly If A Sell Stop Comes And If The Stock Is Over Bought Or Tending To Go Down Go Short.
Now the safety part. STOP LOSS. Once Enters Into A Trade I Used To Put 3 Point Sl Always. But Suppose Market Goes In Opposite Direction To That Of Our Trade, I Used To Modify Stop Loss So That It Can Match With $ Sl. Dont Let Inr Variation Eat Your Sl.
Work With 15 Min Chart And Always Book Profit 0.80- 1 Rs In Mcx. Will Get 3-4 Trades A Day.
Enter only after closing of first candle.:thumb:
If you really want to try this, do paper trade first. Then only trade with real cash. And kindly tell me your feedback, both type of... :lol:
First of all let me tell you I am not an expert in technical analysis. I am still learning from many gurus here. I am going to explain here an intra day system to trade with copper. So far it is giving me very good results. Thats why i thought to post the system here, so that small traders can try this their own.
The system is very simple. Indicators used here are simply PSAR and Stochastic. And if you know camarilla Pivot points that will give you extra confidence.
Input values for PSAR are step - 0.02 and Maximum 0.2
Stochastic -
%K - 5
Slow 3
%D 3
Levels 20-70
Trade In 15 Min Charts . Whenever A New Psar Signal Comes Have A Look At The Current Trend With Stochastic. Suppose If We Gets A Buy Stop In Psar Check Whether Stoc. Is Over Sold Or Gaining Up From Down. If So Go Long In Mcx. Other Wise Leave The Trade. Similarly If A Sell Stop Comes And If The Stock Is Over Bought Or Tending To Go Down Go Short.
Now the safety part. STOP LOSS. Once Enters Into A Trade I Used To Put 3 Point Sl Always. But Suppose Market Goes In Opposite Direction To That Of Our Trade, I Used To Modify Stop Loss So That It Can Match With $ Sl. Dont Let Inr Variation Eat Your Sl.
Work With 15 Min Chart And Always Book Profit 0.80- 1 Rs In Mcx. Will Get 3-4 Trades A Day.
Enter only after closing of first candle.:thumb:
If you really want to try this, do paper trade first. Then only trade with real cash. And kindly tell me your feedback, both type of... :lol:
