SH's 315 Strategy - how to use if effectively

[Tradewithhunter]

here's my back test results during jan - mar 2009 using these rules

Hi Bandlab - thanks, any reason why you chose this period?

Cheers
SH

 

[bandlab2]

Hi Bandlab - thanks, any reason why you chose this period?

Cheers
SH

i picked a range bound market to see the effects of whipsaws...

 

[radha55]

Amazing system.

Bandlab you are rocking this thread along with SH (Tradewithhunter)

I now realize, i stand no were in this market.

There is lot i need to achieve.

 

[amar_gr]

Today another gap down and EOD candle has not touched 3 EMA while NF is at 3930 ... This is our 'book profit' point. Shorted at 4190 booked at 3930 is a clean 260 points profit ....

Now we have to jump into shorts at 3 EMA touch.

Cheers
SH

Hi there,

I have been following your thread with great interest. Many thanks for sharing you thoughts and trading strategy. Your efforts in detailing out and explaining your strategy in a stage wise manner is very much appreciated.

I have a query on the "Book Profit" point. 3930 is a very good exit level there for the given day. Can you please elaborate on why you chose to book at 3930 and not say at 3910 or 3980.

Cheers
Amar.

 

[amar_gr]

Re-entry level triggered, for short position in Nifty Fut @ 4182

In case of such an re-entry, where should we place our Stop ?

 

[Tradewithhunter]

Hi there,

I have been following your thread with great interest. Many thanks for sharing you thoughts and trading strategy. Your efforts in detailing out and explaining your strategy in a stage wise manner is very much appreciated.

I have a query on the "Book Profit" point. 3930 is a very good exit level there for the given day. Can you please elaborate on why you chose to book at 3930 and not say at 3910 or 3980.

Cheers
Amar.

Amar - no special reason... my idea was to wait for first 5 mins to see which way markets were going before booking. I finally booked at 3930.

Cheers
SH

 

[Tradewithhunter]

Re-entry level triggered, for short position in Nifty Fut @ 4182

In case of such an re-entry, where should we place our Stop ?

Hi Amar,

Please read my previous post about 'effective add'. We add when we see current days candle breaching previous days lows after touching 15 EMA (provided 3 EMA is still below 15 EMA).

Yesterday the candle did touch 15 EMA but after that kept going up and hence didnt breach the previous day's lows. Hence no adds done.

Today we will wait for market to open .. if the 3 EMA has crossed 15 EMA ... we will exit shorts and enter longs.

Cheers
SH

 

[padhugvn]

can u pls tell as of now what is the value of ema 3 and 15

 

[bandlab2]

can u pls tell as of now what is the value of ema 3 and 15

3 is below 15 but barely. u need to zoom the chart to notice they didnt touch

 

[Tradewithhunter]

Hi - Yes indeed yesterday at 3.25 PM 3 EMA was clearly below 15 EMA so I am still in shorts. Today at candle close time if the bullish crossover is complete I will move in Longs. Alternatively, if yesterdays lows are breached today during any time today, I will 'ADD' to shorts as per the effective ADD strategy.

Nifty 315 stays bearish but some of the stocks that have given buy on 315 and I am long is some of them are: SAIL, DLF and Aban.

A lot of other stocks which are still bearish but about to either give a buy or 'ADD' signal are Reliance, Relinfra, Unitech, IFCI, JP Associate, ICICI Bank & RCOM.

Pick your favourite and trade accordingly

Cheers
SH