Trading MCX Crude intraday based on RH6996 system modified

gkpc

Well-Known Member
#11
Well, if you say so. To me, id etc don't matter. Nor do the points made. What matters is the style of trading. Look at the timings of entry and exit. Total concentration and in total control. Mark douglas' 'trading in the zone' kind of. Such trading is dream trading. Points, money etc are just secondary, a natural consequence of a job well done. Hats-off thousand times to such trading.
I cannot dream to be an alias of rh6996 ! But I am surely in debt to her for her guidance on Discipline in trade. A few of her posts in this thread are a Gem, surely for me the same are gems , may be because of my own level of IQ I find them so precious. They have changed by trading like on a Pivot!
Thanks for your appreciation, and let me accept candidly that an appreciation goes a long way to strengthen a persons confidence, thank you again !

As far a China Trader is concerned , he is just 9 posts old in his NEW Avatar hence best ignored for some more time !
 

PUCHU_2500

Well-Known Member
#12
gkpc, for quick uploading your chart pls, click my signature.....hope, you will not feel any boring to upload your chart......
 
#13
21 Sep 15 :

10:05 Buy 2972 , 9 points done, Add abve ST 12:15 at 2992, a whip was avoided as 12:20 and 12:25 bars were inside bars. Did a high of 3000. ( A senior member has suggested to exit nearby where there is a round figure like 3000/2900/3100 etc. and reenter a bit above. This was not for Crude but NF and BNF, no idea how it works out in commodities) Exit and reverse at 12:45 low 2991 : 9+19+minus 1=27

12:45 Sell at 2991, did 9 points target, add 1 lot below 13:30 (ST) at 2975. Reversed to long at 2978 ! 9+13-3=19

14:05 Buy 2978 ,9 points done, high 2994, No add as ST close was not exceeded by filter. Reversed at 2984 : 9+6=15

15:00 Sell 2984, low 2974, does 9 point tgt. Second lot exited on close below and then close above MA at 2988. As profit booked did not reverse to recover: 9-4=5

16:35 Sell 2984, low 2982, no profit booking opportunity! Reversed above 16:50 as 16:45 bar closed below MA and 16:50 above MA, long at 2990 and loss of 6 points recovered : 2 trades : -6X2 and +6X2=0

17:35 Short 3009, low 3008. Reversed to long 3025 : Loss 16X2=-32
Long at 3025 did 3032 and exit and short at 3014 : Loss 11X2=-22

18:45 Sell 3014 , low 2994, 9 point tgt done, reversed to long at 3009 : 9+5=14

19:40 Buy 3009 High 3053, exit 3043 ! 9+34=43
Time over
Total : 27+19+15+5+0-32-22+14+43= 69

Not posting a chart, its very boring work to do ! :p
if our buying and selling several times in a day then at the end of day profit calculated buy average buy-average sell=profit
so actual profit will be less
please clear if I am wrong
 

umeshmandal

Well-Known Member
#14
if our buying and selling several times in a day then at the end of day profit calculated buy average buy-average sell=profit
so actual profit will be less
please clear if I am wrong
No idea about how averaging buy and sell can reduce the profit.
However I am sure gkpc must be making less than the figure he shows here as profit as the Brokerage and expenses are to be deducted. May be these figures can be termed : Gross Profit !
 

marimuthu13

Well-Known Member
#15
Biggest change is : Using ST also
Extra rules : Multiple lots, exiting partialy at Tgt1 and carrying partially till exit or reversal.
Shall reverse on close above MA and back down and vise versa. Say I am long , price moves above MA , does not reach T1 and a bar closes above and then before BBtop is reached a bar closes below the Ma, I will reverse below the low of the bar closing below MA for recovering the loss !
If price continues to walk the BB borders, shall we wary to take a contra trade.
Shall respect Inside bars if not big and IDNR4 formation.
and
.
Hi
if I understood correctly after your actual trades/charts,

1. you are using ST only for add-on and fresh ST entry also be there but with fixed target of 9 points complete exit (SL of ????)

2
. price closes above MA and then close below MA (as in case of long) is to exit long to and reversing trade to short just to cover loss in long trade....what if long trade has no loss/or little profit?

3. If price continues to walk the BB borders, shall we wary to take a contra trade. I feel only after price is done for day only we came to know this chart pattern ..Isn't ??

4. Shall respect Inside bars if not big and IDNR4 formation.
Please elaborate bit more.
 

gkpc

Well-Known Member
#16
22 sep 2015

10:10 Sell 3053. did 3053 and then 3064, almost nearing the SL, did not break the 3053 level again for over 60 minutes, exited at 12:05 @3057. Should have kept more patience ! 12:35 onwards trade moved in my direction. Loss 2X4=-8
As per rules this would give handsome moves in our favour.

12:35 Took one lot short that I would have added below ST ! @ 3048, exited at normal 9 points target.

13:35 Buy 3045 , high 3048 ! Reversed to Sell 14:30 low @ 3042 SELL due to ST and BB top within 1 point too ! Loss 2X3=6 points

14:30 short 3042, low 3025, 9 points done! reversed @3034 : 9+8=17

14:50 long 3034 high 3057 ! 9 points tgt booked, add 1 @ 3048, rev. @3044 :9+10-4=15

15:30 Sell @3044 Low 3033. Tgt 9 points done, Rev long @3039 one lot only as trade due to ST! 9+5=14

16:10 Long @3039(ST) , SL at 3033, below 16:30 low : Loss -6

17:45 Short due to ST 1 lot @ 3028, Tgt 9 done :+9

18:40 Long buy 3030 , 9 points done, add @ 3046 , high 3076 [email protected] at 19:45 low
: 9 + 30 + 30 =69 ! (Max target for Add lots kept at 30)

In the trade at 19:45 something unusual happened.
Trying to explain!
19:45 Sell short @ 3060, low 3022. Tgt1 of 9 points done, added 1 at 2027 ! Add lot hit SL at 3040 ! (As I had another lot sold at higher rates in hand, did not reverse the ST Add and booked loss! While I was still holding 1 lot short I got another sell signal, happened for the first time. The Short trade would exit above 21:10 high plus filter but was saved narrowly and then sell cam below 21:30 candle.
So, I booked 9 points profit in sell at 3060 and -13 points loss in sell add at ST ! Holding 1 sell at 3060 and 2 sell at 3035. : 9-13= -4 (1 lot in hand)
21:30 Sell 3035 low 3013, booked 9 points and exited 2 other lots at 23:00 @3021: 9+39+14=62
No time for further trades or a long at 23:00 at 3021 would go upto 3045

Total : -8+9-6+17+15+14-6+9+69+62 = 175


 

gkpc

Well-Known Member
#17
Hi
if I understood correctly after your actual trades/charts,

1. you are using ST only for add-on and fresh ST entry also be there but with fixed target of 9 points complete exit (SL of ????)

2
. price closes above MA and then close below MA (as in case of long) is to exit long to and reversing trade to short just to cover loss in long trade....what if long trade has no loss/or little profit?

3. If price continues to walk the BB borders, shall we wary to take a contra trade. I feel only after price is done for day only we came to know this chart pattern ..Isn't ??

4. Shall respect Inside bars if not big and IDNR4 formation.
Please elaborate bit more.
01.Profit for ST add is 9 points when I have only the 'add' lot in hand. In case I have booked profit at 9 and have another lot in hand, I continue to trade the add along with the other lot.

02. If a trade is in profit and remains so even at exit level of close above below MA, I remain in trade.

03. If we are long and price remains kissing the upper band, we can see that in live charts and not at EOD ! It is just not to reverse in a hurry if we have bar bodies within each other, sideways type mkt but all happening near a band! Our main strength on this system is when a trend weakens the price tends to move towards the mean. There is a nice writeup about this by rh6996 in this thread. You may refer to it.

04. respecting inside bars if the same are big ! This is to say to take a trade when their low is breached by our filtered level. Say we have a sell at 3033, but a bar just before this bar has a low of 3032, I prefer shorting at 3032, if bar is very big I prefer shorting only when our shorting level is below the halfway mark of the WRB !
Almost same for IDNR4, prefer to take the high or low of the big bar in IDNR4 set up.
 

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