My trades based on "new way of pivot trading" and vwap

[vsatrader1]

I had told yesterday looking at the OBV charts that we would get a correction tomorrow. If price attracts volumes then price had closed higher yesterday. There is no weakness in price yesterday. What gives away the hand of the market makers is volumes more often than not.

:lol: just because you were not able to read price does not mean there is no weakness/strength in price.
obv is good indicator just like any other indicator. its good to be adamant about something which you use and treat it ultimate. but tht does not mean you should be ignorant about reality.
this is an endless and useless discussion which precedes what price or volume. its like chicken comes first or egg.
btw i am a wyckoff expert had done full length course from wyckoff institute. and there is not bigger authority than Wyckoff on volume analysis. But tht does not mean he was blinded by volume he also analysed price action first.
effect of volume can be seen in price action without any volume panel or any volume base indicator. PA if understood properly (which is extremely difficult to master) you dont need volume. and even if you are using volume good but tht does not make non volume stuff weak.

regds,

 

[varunkochhar]

Sir were you able to call this gap down by price action. If yes then please give the reason. I am just having my 5minutes in glory. Even if you give postmortem based price study, i am ok with it. Pleasetake it as a friendly banter not a war. And were you confident enough to take an overnight position based on price action.

 

[vsatrader1]

Sir were you able to call this gap down by price action. If yes then please give the reason. I am just having my 5minutes in glory. Even if you give postmortem based price study, i am ok with it. Pleasetake it as a friendly banter not a war.

yes i can. but its not of any use for me as i am intra trader in index futures. i can post chart but with tht you want reasons, which i am not interested to share as i am not into discussing my systems and methods in public forums or with anybody. and even PA is not imp for me i have very different mind set as a trader.
well lets not continue the discussion in this thread and disturb its original flow.

 

[vijkris]

48% win rate is huge if you have proper risk management. But, people want 100% win rate. They frown at 48% win rate. Why? because they are in search of holy grail. Now tell me how many times you turned your winner into a loser only because it hit one tick less than your target and you did not exit hoping market will comeback and hit my target?

Vwap is a wonderful tool! you have to devise strategies around it like anyother successful method. You can earn really big using it and need no other thing. It is todays value and most of the trades happen around here. I lose money not because vwap but because I donot listen to market. When the bias is positive and I miss a trade I start arguing against the bias and then all hell of problems start compounding. Once I am in the red, I again start arguing against market bias and a vicious cycle starts which ruin my trading day, week and month. Then I blame my tools and start searching for something better which is never there.
It is my belief, if 48% is the win rate and I stick with it long enough, I will need nothing more to be a successful trader.

1. THE test was done in 1tf and not in 15tf.
2. if target increases to 2.2R, win rate drops to 38%.
3. if target reduced to 0.6R, win rate is 65%.

Sl is all cases is 2sd. entry is 8ema crossing 1sd, then the candle's high is taken as buy price.

Of course there are lot of things to say, but I ll choose to remain silent.
Using it practically in 1tf is the key here.

 

[vijkris]

Hello Vijay,how you doing?
Prachi linked me to this post.She talks a lot about your hardworking and ready to help nature.I am shocked but happy that we have a common friend

Unable to pm you.

Oh hi, Karan bhai, Hope I remember the name correctly.

No one here knows the name Prachi..

Btw, thanks for posting here. hope u r doing fine and will be active again. :thumb:
Last time u were bit impatient and also deleted ur thread. :annoyed:

Anyway, Welcome back !!!

 

[TraderRavi]

Oh hi, Karan bhai, Hope I remember the name correctly.

No one here knows the name Prachi..

I know :lol:

 

[wisp]

I think OBV, MP, etc. require good data. So please get data from Global Datafeeds or some other reliable data provider. Cost of Data can be taken as one SL but it is a must to be successful.

 

[vijkris]

Regarding price attracts volume or not, I have no idea.. thats what I told in reply to xray ji's post.

In previous posts, I also said that obv action in obv pane is easier to interpret. of course for me ribbons are confusing and 200 ema is also not fitting my personality.

1st Manojborle ji asked me to see the naked obv, then monkeybusiness.. OF course it was bit difficult in the begining but yes now after adding pdc lines, it is quite clear..

So reading price action is definitely more difficult than obv. Maybe after sometime will achieve that also.. :thumb:

 

[vijkris]

I know :lol:

:rofl:
then don't tell anyone the contents of the secret envelope which u have.

All are bhai's no behen's..

 

[rjshem]

My backtest report says 48% win rate provided target is 1.2R. Yes half the usual qty is the trick. if the trade fails, more chances of bo bd of sideways range.

People are not getting angry.... all are happy..:clap:

Your last paragraph is something which I am yet to witness.. you were correct previously also, so personally I will keep the above thing in mind.

48% with 1.2r is not that good taking into account the costs .u need atleast 60% with 1.2 .check for 3 mins tf if u can achieve the above also check with niftytaurus he was having some very good rr trades lately in 1mintf.i dont trade 1min tf so cant say much on it.