Thoughts on Day/Swing Trading Part 2

Actual figures for August : Trades 39,Profit 580 points, Average winning trade 35 points ,Average loosing trade 6 points.RR = 5.83

But even RR of over 2:1 is pretty good if one has > 50 % hit rate.

Smart_trade

This is what ST da says as the ""Holy Grail" of trading - keep your looses short and let the profits run..... :thumb:
This is good SL strategy that we get out the pivots which we enter and consider these b/o as false by default..... Phantom too says so..... (Ref: Phantom of the Pit) Thanks Dan for that nice book reco :thumb:

Regards,
Gaur_Krishna

good to read . excellent thread!!!!!!!!!!!!

ST you are really clear with your explanations...no wonder you are a hugely successful intraday trader!

TO ,

Smart Trade ,

A very very BIG thanks to you ,.....sir .

Posting your valuable thoughts. i read your both of thread .

its great .thanks a lot sir .

P-1 or 2 Bars Entry



Today I will share an entry technique which is my favourite entry technique for getting into a trend move, Many times we either miss an entry in a trend move or we get out in between and we want to enter again with small, predefined and controlled risk.

The chart is attached. Here market was in uptrend, it opened with a gap up and after a bit of correction, the uptrend resumed and we want a low rish entry in this uptrend.

Here we locate a small pivot low. And our entry in long trade is above high of the bar which is one bar earlier to pivot low bar provided it is higher than the pivot low bar high, else we go 2 bars earlier.

I have marked 5 places where market gave us a low risk entry shown by blue lines. The stoploss is at the low of the pivot low bar....and you are hooked into a trend...enjoy the ride.

This is an entry method....it is NOT a stand alone trading system....please use it as an entry method only.

The method is based on the fact that an uptrend is made up of higher pivot highs and higher pivot lows and if we keep stops at a pivot low, it will not be hit in a strong uptrend, and if it is hit, it means that the uptrend is weak and we better get out instread of hanging around in a market which is not trending strongly. It is based on sound trading principle and hence this entry technique has more than 75-80 % success rate and is my favourite.....This entry is a great entry for adds even if we are already in trend. It gives low risk add points.

Mirror image to get into a downtrend.....

Smart_trade

TJ's hot right now. Saint, then Pratap, and now ST, all posting gyan at the same time...
:clap:

I have been posting in this thread and few other threads regularly...so I am a resident of this forum.

ST

ST bro ..when will we get out of this long trade?

Hi Trader_PK,

Getting out is in the domain of exit srategies. It will take many more posts to explain exits but broadly we can say exit when the trend shows signs of maturing/tiring out/ reversals.

Smart_trade