Reverse Trading - Outwitting the market

C

crazy

Active Member
#32
#32
anup said:
The way you are playing with words and the market seems to be interesting.. Good effort..
But on what basis you go against Andy should be mentioned
Click to expand...
Hi anup.

We are simply going against Andy. The only effort we are putting in is being in andy's shoes (new trader) and taking the trades as per the method which was simple 5 min breakout strategy.

Axis Bank trade: andy took becoz 5 min pivot low/day low broke and market was looking bearish to andy at day start.

Coal India trade : same as above. One thing interesting happnd in this trade, seeing nifty jump and axis bank trade hitting SL Andy became bullish . Coal india had just started jumping and reachd Andy's cost price. He grew restless and booked the position here. If he had held on CIL trade it would have been profitable.



ACC trade : Andy already having burned his hand with a bearish trade went long here on 5 min high break/dayhigh also. And with a bigger SL this time.
Nifty call trade: It is a classic revenge trade which new traders make.holding on to his view he tries to average a loosing position/view.


Some of the critical lessons one can take away from yesterdays trade are

1) Markets usually gets whipsawed 2-3 times before giving the main move.

2) Chasing momentum in current market situation is suicidal.

3) Almost all of the well known system without proper knowledge/experience/filters will fail for new guys most of the time.
 
C

crazy

Active Member
#33
#33
Some of the things which are going to follow to make the thread interesting are

1) Andy will get into system hopping. He will not stick onto 1 system.

2) Andy will try switching TF.

3) At some moment where frustration is very high he will keep on averaging loosing position. Which will be adding to us. This was suggested by fellow members.

Friends need help from you guys. If you can suggest some commonly known systems for day trading it would be really helpful for Andy :D
 
timepass

timepass

Moderator
#34
#34
Andy may try one of the Bollinger Band based systems for intraday, there are 3 of them described here - EMA strip in BB, 3D Bollinger bands and Bollingerworm.

Andy may also want to change his segment, or try trading equities instead of F&O.
 
P

prabhsingh

Well-Known Member
#35
#35
timepass said:
Andy may try one of the Bollinger Band based systems for intraday, there are 3 of them described here - EMA strip in BB, 3D Bollinger bands and Bollingerworm.

Andy may also want to change his segment, or try trading equities instead of F&O.
Click to expand...
TP,

BB based systems can also be applied on EOD basis or its just for Intra-day basis only.
 
C

crazy

Active Member
#39
#39
C

crazy

Active Member
#40
#40
Andy has read about this bollingerworm system. He likes it a lot. He will be trading on 5 mins.

Construction

1.Use standard Bollinger Bands ,that is,bb(s,20,2).
For thicker bands you can use bb(s,20,2.01), bb(s,20,2.02).....

2.Use ema2H and ema2L to outline the body of the worm.

3.If the body comes out of bands ,then make an ENTRY.

4.The EXIT is, if body comes out the band,of the other colour.
 
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