Trading the trend

#21
Vikas,

Will you be covering the building blocks such as upbar,downbar, rallies, declines, pivots ,and smaller trends within larger trends etc so that people will get clear idea of a trend ?

Smart_trade
 

rkripal

Well-Known Member
#22
A good trader is equally necessary behind a good method in daytrading and that is a winning combination along with good MM.
spot on... hidden word behind "good trader" is a trader with cool and composed mind...

thanks ST da, posting after long time..

Kripal
 

jamit_05

Well-Known Member
#24
looking very good....

So please share your single exit method, may be we ppl can take benefit of it...
I could not come up with one... everything I backtested underformed in 4 out of 7 months. Patterns, emas, bars etc did not fit my need. I did not want bumper profits one month and dull for next three. So I settled with something which suits my need...:

Hold till all current losses (Drawdown) are cleared (very important for me) plus
You get at least five times your "risk amount" for the month plus
2.5 times risk amount for next month (lil flexible on this, depending of the strength of the trend. But I must have first two)

Till that happens hold wide Trailing Stops.
 

VIKAS 21

Well-Known Member
#25
A market is composed of two type of trends..


1. UPTREND (Rally)

2. DOWNTREND ( Decline)


An uptrend is made of series of Higher highs(HH) & Higher lows(HL)

A Downtrend is made of series of Lower highs(LH) & Lower Lows(LL)


 
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jamit_05

Well-Known Member
#26
VIEW ON TRADING & TRADING METHODS BY TWO ICONS ......

SAINT SIR: Trading is simple but we people make it complicated by using a lot of complex indicators & we think the most difficult method we trade the most the are chances of success.

SMART_TRADE SIR: Contrary to many people's belief,there is no perfect system. There has never been one in the past and there will never be one in future. There is no magic formula, no secret indicator,no AFL which will make money for you without any efforts from your side. There are competent methods but each will have its share of choppy trades,losses, frustrating periods,big profits etc.My experience tells me that you need to have a good method but it is not that it will make money for you if run on autopilot. A good trader is equally necessary behind a good method in daytrading and that is a winning combination along with good MM.
One thing I would like to highlight here...

How is Saint professing simplicity behind trading?

I was with him on the very first trader meet in Kol. So, in those two days I along with a few others, inquired about his past with trading.

He had his share of challenges... oh it was an interesting narration... one of those once in a lifetime moments...

I will skip the chase and come right down to the point...

He had several years and his share of failures behind him. From those experiences he could separate the wheat from the chaff. He was now 100% internally convinced about that one line. He lived it and hence knows. And in reality there is no other way.

He is a great guy. You should take the chance to meet him. He likes meeting traders. A cool guy that way. He lives far, but shows up for meets even today. He was there for the last meet in Pune.
 

jamit_05

Well-Known Member
#27
Hi Vikas,

Instead of general talks, lets get down to making some money from your idea.

While we have ST da's attention let us try and design some rules around your way of seeing the trend.

Let us start with you Defining Entry and SL first.

If one sees an improvement on it, he will suggest. Agreeable? Cool, lets start.
 

jamit_05

Well-Known Member
#30
Ok Dear friend......

SO as per my view we will be in Long till the price keep making new HIGHER highs & new HIGHER lows

& We will be in short only when stock start making LOWER HIGH & LOWER LOW.
Even more precisely. Establish one precise rule for entry. For ex.

I will go long above the recent Daily Pivot High + 15 points of filter. With a SL of half daily ATR.

Clear, simple and no confusion regarding the levels of action. This is very important else the mind tries to escape after some losses. :)

So now give your entry rule. Take your time. Backtest it.
 

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