Pride's Intra-Day Strategy [Profit Everyday]

[akshah]

Hi pride,

Thanks for such a wonderful strategy.

Can u please clarify a few things regarding the exit strategy.
As mentioned by you that we have to square up 50% units when fast stochastic reverses and crosses slow line from above.

I want to know do we have to wait for the 5 minute bar to complete for this condition to be satisfied or do we have to square up 50% while the 5 minute bar if forming and the fast stoch cuts the slow from above?

Also if we wait for the 5 min bar to complete and the fast stoch has cut the slow stoch very marginally the do we square up or we have to have some degree of difference between the 2 values to square up.

Also if the ema's cross from buy to sell but stop loss has not hit on the buy trade then do I sell buy buy posn at the cross over?

Thanks once again for such a wonderful system guys: :clapping: :thumb: clap:

 

[Vikky867]

I have been following Prides system for intraday..
Wanted to thank Pride ,Ankitgarg,Humble others for
wonderful insights,improvements and backtesting..

I have a Q: Havent noticed any comments by Pride et others
who started this..Have u all retired ..:thumb:

As we know 2009 was a highly volatile year..but in narrow
markets i think others should try new stochastic settings and
see if we get better results in narrow range bound markets.

I see some people give useful inputs, but some others should
atleast test /paper trade and improve these new settings and compare and
benchmark.What i propose..have a team of say 2-4people
and set the differant stochastic settings eg; Nifty-F,

Case A : stochastic settings ( eg; 5 5 3 )..
say we find it useful for range bound , and not good for
volatile or others.

Case B: Stoch settings(8,3,4) --Volatile good,range bound not good
Case C: .......................
Case D: .........................

Only when we complete this section , then we can definately all cheer
and give thumbs up. So this system needs to be perfected. Instead of
simply asking vague, take up the mantle left by team who started this
thread and perfect it folks..no offence to anyone..but we should try hard
to make this work in all market conditions to generate good profits.!!
Only then can we clap :clapping:

 

[alroyraj]

This strategy is good assuming the brokerage is under control.and the given settings for the stochastic oscillator of 8,3,4 is efficient to prevent premature closing and re-entry of the position.
http://img638.imageshack.us/img638/4781/intradaychartmininifty2.jpg

the top stochastic is the rcommended 8,3,4 and the bottom is the faster 5,3,3 one. We can see that 8,3,4 is better.
Of course if your brokerage is 2 nifty points or 2.2 mininifty points using RK Global then any settings will help. But in case you have any other even upto 0.02% it will not even breakeven since it needs 3 points.

 

[joy.edakad]

This strategy is based on DYNAMIC TRADER multi time frame momentum set up. And the fact is the set up won't work mechanically as described in this thread nor the Dynamic trader. A discretionary approach coupled with the set up may yield results.

 

[itmmec]

Hi ,
I could not get any signal today for the day even market was trending.
When short term stoschastic was bullish long term 30 min was bearish and vice versa. Attaching the setup in AMibroker.
can any one tell me what was wrong with this ..

ITMMEC

 

[rmdsmile]

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.
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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.

Sir
can u provide me the Formula to calculate resistance and support levels for short call

 

[venkatpersonal]

The mechanical trading system

The mechanical trading system

 

[manju bala]

hello I want to invest short term period & price rate below Rs. 50 please suggest me

 

[avd.2066]

if u r so consistent
kindly give here ur yahoo id so that we can also make consistent profit

As I think no one here can get profit from day trading
If you, then kindly pls give us ur yahoo msg. id
and give free calls to us

We c it and admire u if we got consistent profit only in 3 days
thanking you and feel that u not mind itr

 

[avd.2066]

invest in banking sector
and tell me in a year or give me some profit