Pride's Intra-Day Strategy [Profit Everyday]
- Thread starter .Pride.
- Start date
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@nagpal.vinay
Even im a novice but i can still suggest you that the best indicators are DMI, RSI and STOCHASTIC , if you are a long term trader you can also use PARABOLIC SAR.
Even i use racepro of religare, its charts are troubling since 6 months, you better register in investbulls,its intraday charts costs 350 per month and its very much helpful. Icharts are providing the same but with more cost and they serve with high speed.
If you really wanna try Prides intraday strategy you must definately need these chars of invest bulls and i suggest you to backtest it once. Because I see that its failing since a couple of days as the market is too dry.
Even im a novice but i can still suggest you that the best indicators are DMI, RSI and STOCHASTIC , if you are a long term trader you can also use PARABOLIC SAR.
Even i use racepro of religare, its charts are troubling since 6 months, you better register in investbulls,its intraday charts costs 350 per month and its very much helpful. Icharts are providing the same but with more cost and they serve with high speed.
If you really wanna try Prides intraday strategy you must definately need these chars of invest bulls and i suggest you to backtest it once. Because I see that its failing since a couple of days as the market is too dry.
Hi!
I have been following this system for quite some time now, and believe me, have never had a losing day.
The system is very simple and though I cannot guarantee massive profits, you will get consistent returns.
It utilizes Dual time-frame Momentum and EMA Crossovers on a 5 Minute Chart and is best suited to trade Nifty Futures, though any stock can be traded with this system over any time frame.
Coming to the actual system now, the following is required for a long position to be initiated:
Entry Strategy
1. In the 30 Minute Chart, the Stochastic should be bullish.
(That is, the fast stochastic line should have crossed over the slow line. It does not matter how long ago the crossover took place, it should just be above the slow line and should be going upwards).
2. In the 5 Minute Chart, the Stochastic should be bullish as well.
(Fast stochastic line should have crossed over the slow line and should be moving upwards. It should not be in overbought condition yet, that is, it should not have crossed 80 yet).
3. The 5 Period EMA crossed over the 13 Period EMA from below and moves upwards.
When all three conditions are met, we buy, placing stoploss at the low of the last bar or the bar to the left of the last bar, whichever is lower.
Stochastic Setting is 8,3,4 for this system.
Exit Strategy
1. When fast Stochastic reverses from it's upward move, curves downwards and crosses the slow line from above, sell half of the units.
2. If the next bar goes below the low of the previous bar, exit completely, otherwise keep a tight trailing stoploss and enjoy the continuing bull market
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The second point of the exit strategy might seem confusing, but it is there as in a trending market, the stochastic might reverse while the market is still going up, so we do not exit completely on stochastic reversal as we do not want to miss out on the rally. But if the next bar goes below the previous bar (where we have exited half), it is confirmed that there might be a reversal, though short term, but we exit with the profits we have.
I tend to avoid taking positions if the crossover is near an important support or resistance level.
For going short, the exact opposite of the above rules is used.
Thats it! I have been following this and making around 50 points everyday.
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These are the trades that I did today with this strategy.
Overall profit of around 50-55 points after removing brokerage and slippage.
--------------------------------------------------------------------------
As I am not here to sell anything to you, I will not flood this post with hundreds of examples and charts where this system proved profitable, you can backtest yourself and see how it works out for you.
The main purpose of my sharing this system with you is that we can have a discussion regarding it and see if any tweaks/modifications can make this more profitable.
EMA Crossover Non-believers, please stay away from this thread.:thumb:
I look forward to hear from all of you and your comments and suggestions are most welcome.
I have been following this system for quite some time now, and believe me, have never had a losing day.
The system is very simple and though I cannot guarantee massive profits, you will get consistent returns.
It utilizes Dual time-frame Momentum and EMA Crossovers on a 5 Minute Chart and is best suited to trade Nifty Futures, though any stock can be traded with this system over any time frame.
Coming to the actual system now, the following is required for a long position to be initiated:
Entry Strategy
1. In the 30 Minute Chart, the Stochastic should be bullish.
(That is, the fast stochastic line should have crossed over the slow line. It does not matter how long ago the crossover took place, it should just be above the slow line and should be going upwards).
2. In the 5 Minute Chart, the Stochastic should be bullish as well.
(Fast stochastic line should have crossed over the slow line and should be moving upwards. It should not be in overbought condition yet, that is, it should not have crossed 80 yet).
3. The 5 Period EMA crossed over the 13 Period EMA from below and moves upwards.
When all three conditions are met, we buy, placing stoploss at the low of the last bar or the bar to the left of the last bar, whichever is lower.
Stochastic Setting is 8,3,4 for this system.
Exit Strategy
1. When fast Stochastic reverses from it's upward move, curves downwards and crosses the slow line from above, sell half of the units.
2. If the next bar goes below the low of the previous bar, exit completely, otherwise keep a tight trailing stoploss and enjoy the continuing bull market
-----------------------------------------------------------------------------
The second point of the exit strategy might seem confusing, but it is there as in a trending market, the stochastic might reverse while the market is still going up, so we do not exit completely on stochastic reversal as we do not want to miss out on the rally. But if the next bar goes below the previous bar (where we have exited half), it is confirmed that there might be a reversal, though short term, but we exit with the profits we have.
I tend to avoid taking positions if the crossover is near an important support or resistance level.
For going short, the exact opposite of the above rules is used.
Thats it! I have been following this and making around 50 points everyday.
-------------------------------------------------------------------------
These are the trades that I did today with this strategy.
Overall profit of around 50-55 points after removing brokerage and slippage.
--------------------------------------------------------------------------
As I am not here to sell anything to you, I will not flood this post with hundreds of examples and charts where this system proved profitable, you can backtest yourself and see how it works out for you.
The main purpose of my sharing this system with you is that we can have a discussion regarding it and see if any tweaks/modifications can make this more profitable.
EMA Crossover Non-believers, please stay away from this thread.:thumb:
I look forward to hear from all of you and your comments and suggestions are most welcome.
Mr.Pride,
My Heart full thank for your wonderful n simple setup for day trading. Today i readout all the pages. In recent days your participation left out in the last few pages. Here i attached 5min and 30min chart with few doubts. Hope some of the Senior member in this thread will help me to get a clear picture.
Chart for 15/09/2009
1. Nifty fut. 30min Chart STS given a Sell indication at 12.30.In 5min chart STS also in sell side and at 13.00 candle EMA cross over happened. After this confirmation we enter short at 13.05 candle at 4885 and nifty down upto 4877.10.
At 13.15 candle STS cross over S/L hit, ema cross over also happened.
At 14.30 a single candle fall almost 25 point and the very next candle recover all this point.
In this kind of situation how we handle the market.
Awaiting seniors guidance for a better trade
Thanks & Regards,
S.Saravanan
My Heart full thank for your wonderful n simple setup for day trading. Today i readout all the pages. In recent days your participation left out in the last few pages. Here i attached 5min and 30min chart with few doubts. Hope some of the Senior member in this thread will help me to get a clear picture.
Chart for 15/09/2009
1. Nifty fut. 30min Chart STS given a Sell indication at 12.30.In 5min chart STS also in sell side and at 13.00 candle EMA cross over happened. After this confirmation we enter short at 13.05 candle at 4885 and nifty down upto 4877.10.
At 13.15 candle STS cross over S/L hit, ema cross over also happened.
At 14.30 a single candle fall almost 25 point and the very next candle recover all this point.
In this kind of situation how we handle the market.
Awaiting seniors guidance for a better trade
Thanks & Regards,
S.Saravanan
Last edited:
Hi Pride,
I am hopin u look at this and revert to my queries :sos:. I did go thru your method found it good nd thought of giving a shot @ it. Today I tried to trade with the very famous and popular "Pride's method of Intraday Trading" :clapping:.
Indicators used : 5 EMA, 13 EMA, STS (8,3,4)
TF : 30 min (To identify trend), 5 min (To identify entry and exit point)
I followed Nifty Futures today.
At close to 11.55 a.m on 30 min TF the STS turned bullish and at the same time on 5 min TF STS crossover happened along with EMA cross over. Was this the right time to take entry?
At STS crossover close to 12.35 I needed to sqaure off.
Again there were couple of crossovers which didn't yeild me good results until I tried to take another long @ close to 14.35 which just rocketed towards last 30 mins.
I wanted to know if I understood it correctly?
Hope you can share your thoughts around it...
I am hopin u look at this and revert to my queries :sos:. I did go thru your method found it good nd thought of giving a shot @ it. Today I tried to trade with the very famous and popular "Pride's method of Intraday Trading" :clapping:.
Indicators used : 5 EMA, 13 EMA, STS (8,3,4)
TF : 30 min (To identify trend), 5 min (To identify entry and exit point)
I followed Nifty Futures today.
At close to 11.55 a.m on 30 min TF the STS turned bullish and at the same time on 5 min TF STS crossover happened along with EMA cross over. Was this the right time to take entry?
At STS crossover close to 12.35 I needed to sqaure off.
Again there were couple of crossovers which didn't yeild me good results until I tried to take another long @ close to 14.35 which just rocketed towards last 30 mins.
I wanted to know if I understood it correctly?
Hope you can share your thoughts around it...
Last edited:
hiii FnaticTrader
i also found same queries wen i was goin through this meathod!
and i found out that...wheather a crossover yields good gains or not..if it is according to rules then we shud always trade it...the reason is that the exit strategy prevents us from having large losses..
and you didnt made any mistake!
because u always stick to strategy even couple of crossovers were false!
so i think that u understood it correctly(well thats my opinion!)
anyway cheers n have good trades!
i also found same queries wen i was goin through this meathod!
and i found out that...wheather a crossover yields good gains or not..if it is according to rules then we shud always trade it...the reason is that the exit strategy prevents us from having large losses..
and you didnt made any mistake!
because u always stick to strategy even couple of crossovers were false!
so i think that u understood it correctly(well thats my opinion!)
anyway cheers n have good trades!
Hey Shushant,
Thanks a ton for your input. I am a newbie and really wud lke to take my understanding to next level. I have been readin a lot these days abt various methods nd one thin thatz common to all of them is be patient and to stick with it no matter what happens till the tyme you can draw some conclusion. I am just tryin to learn this mad world of stocks as any school kid wud follow his homework nd I'm jus luvin it....How has been ur journey so far?
Thanks a ton for your input. I am a newbie and really wud lke to take my understanding to next level. I have been readin a lot these days abt various methods nd one thin thatz common to all of them is be patient and to stick with it no matter what happens till the tyme you can draw some conclusion. I am just tryin to learn this mad world of stocks as any school kid wud follow his homework nd I'm jus luvin it....How has been ur journey so far?
FanaticTrader,
I am really glad to hear that u are able to stick to strategy...and you are liking it! but for me its not really that good...... maybe because i am trying this strategy in equities(but I've seen people trading successfully this strategy in equity too)..or maybe its my fault that im not able to stick to strategy....
its like i know the things n their importance but when it comes to application everything fails!
anyway not thinking to change strategy and trying to master it!
I am really glad to hear that u are able to stick to strategy...and you are liking it! but for me its not really that good...... maybe because i am trying this strategy in equities(but I've seen people trading successfully this strategy in equity too)..or maybe its my fault that im not able to stick to strategy....
its like i know the things n their importance but when it comes to application everything fails!
anyway not thinking to change strategy and trying to master it!
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| N | Pride's Strategy on other Time Frames | Advanced Trading Strategies | 22 | |
| A | Is Pride's Intraday Strategy still working? | Day Trading | 5 | |
|
Pride's strategy | AmiBroker | 6 | |
| S | Reopen: Pride's Intraday Strategy [Profit Everyday] | Day Trading | 29 | |
| S | pride's streategy | Introductions | 0 |
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