Once again Turtle Soup ..

[rkkarnani]

Dear friend,

I went over the rules again,I could not find any mention of Macd there.
my question was very specific..the author says that trades can be on fr a few hours to a few days.. since u guys are trading this system everyday, just wanted to know what %age of trades get carried over to the next day.


regards

As per rules of the trade there may quiet a few being carried over to next day as SL is not hit on day of entry but as per "mind set of the trader" no trade it seems have been carried over ! From the very inception this has happened. It so happened that when the set up was initiated for 2/3 days there were one sided move in TS or TS+1 stocks and it was taken that this set up is for intrady only !

 

[Rish]

Dear friend,

I went over the rules again,I could not find any mention of Macd there.
my question was very specific..the author says that trades can be on fr a few hours to a few days.. since u guys are trading this system everyday, just wanted to know what %age of trades get carried over to the next day.


regards

As per Rule, MACD will never come into picture in Turtle Soup.

If at all if you want to carry over the position, subject to MACD hourly crossover, then yes.

 

[rkkarnani]

jamit & karnaniji,

What r the stocks for tomorrow as per TS & plus one.

TS can be anticipated only, but TS+1 set would be complete today for trade tomorrow.
Have a look at these TS+1 :

Central Bank >80.40 SL78.55
BGR Energy >237.95 SL235.30
Adani Ent >Check
HMT > 38.05 SL37.30
Colpal > Check
Jain Irrigation>71.05 SL65.05 (Big SL)
Cairn > Must Check
Bharti > Must check
India Bulls > Check
Tata Tea >142.70 SL139.60
Sterlite>108.70 SL 107.80
SAIL >Check
Siemens >Check
Saw Pipes >106.35 touch and go
Power Grid >110 SL 109.05
Natl Fertiliser > Low volumes
Hindalco > check
Godrej Ind >Check
Fortis Health > 108.40 SL 106.15
DBReality > Check

 

[anuragmunjal]

As per rules of the trade there may quiet a few being carried over to next day as SL is not hit on day of entry but as per "mind set of the trader" no trade it seems have been carried over ! From the very inception this has happened. It so happened that when the set up was initiated for 2/3 days there were one sided move in TS or TS+1 stocks and it was taken that this set up is for intrady only !

Dear Rkkarnani ji

the reason for the origins of this setup was the fact that a group of traders called 'turtles' were trained by Richard Dennis who took a position any market that made a new 20 day low or high. the effort was to fade their trades, once they got stuck..how many people u know today who buy buy or sell 20 day breakouts ?
if not.. wd the same setup be not valid for any breakout ,whether it be 5 days, 10 days, 15 days or 89 days?

regards

 

[rkkarnani]

Sir, nifty did not make 5969+ filter ??...

What is the reason for this trade?

Nifty did breach 5969 very early in the day. When it went down below 5969 yet again and moved up above 5969 I took a Call of 6000/-
Nifty broke 5169 in opening 5 minutes and then 12:30 and yet again at 13:35 but never broke the Opening low of 5164.25
Why this confusion?
If there is a confusion with Nifty future, which I am sure is not the case because if it was Nifty Spot level, then 20 days low is at 5940.60 made on 11th Jan.

I shall be more than happy if an error in my trading the NF is pointed out so that I can rectify in future. Anup , even during the Live Mkt I posted the levels of first 5 minutes of NF, where the Long was already triggered.

 

[rkkarnani]

Dear Rkkarnani ji

the reason for the origins of this setup was the fact that a group of traders called 'turtles' were trained by Richard Dennis who took a position any market that made a new 20 day low or high. the effort was to fade their trades, once they got stuck..how many people u know today who buy buy or sell 20 day breakouts ?
if not.. wd the same setup be not valid for any breakout ,whether it be 5 days, 10 days, 15 days or 89 days?

regards

Agreed... 20 is not a sacred number just as any MA is not ! Some vouch for 3/15 cross, others for 13/39 and yet someone trades with 15/30.... no moving average is sacred either. In TA nothing is !
I myself was trading hourly candle on 10 period turtle rejection.
Answering your question : No! I never came across anyone trading this set up for positional trade or even intraday till a few weeks earlier.
In my scheme of things I do have something very similar and was included more by observation than by reading about any set up.
In the previous thread when a few seniors like ST etc when explained it as fading breakouts and breakdown failures that things became clearer about this set up.
So what do you suggest.... how can we tweek the period of 20 days? Some stocks may be good in 15 and some in 10 or 8 ! Any other suggestion to make it more tradable or be candid and say : Its not worth the effort to pursue! I dont mind hearing it !

 

[lokanathpai]

My salutes to the Great Guru's of Traderji,

I request for a kind help from you.

My trading style is : I can place trade only after market hours. That too during night, around this time. So eventually, I cannot day trade or trade in F & O.

With this limitation, I have recently adopted Quadra Original, albeit with some inadequate understanding of the system, which was clarified by Rangarajan and Anant. Thanks to them. Now a days I am not getting good trading triggers in Quadra. Ok, I have to wait for good opportunity. Yet, I wish I should have some more good trading systems, which can suit my trading style.

You are all learned traders and are having good experience in trading various system.

My request is, kindly suggest me few good trading systems, which are easy to understand, easy to implement and used in Short term trading(Delivery basis)

Hope I will get help from you. Thanks in advance.

 

[anuragmunjal]

Agreed... 20 is not a sacred number just as any MA is not ! Some vouch for 3/15 cross, others for 13/39 and yet someone trades with 15/30.... no moving average is sacred either. In TA nothing is !
I myself was trading hourly candle on 10 period turtle rejection.
Answering your question : No! I never came across anyone trading this set up for positional trade or even intraday till a few weeks earlier.
In my scheme of things I do have something very similar and was included more by observation than by reading about any set up.
In the previous thread when a few seniors like ST etc when explained it as fading breakouts and breakdown failures that things became clearer about this set up.
So what do you suggest.... how can we tweek the period of 20 days? Some stocks may be good in 15 and some in 10 or 8 ! Any other suggestion to make it more tradable or be candid and say : Its not worth the effort to pursue! I dont mind hearing it !

Dear Rkkarnani ji.

I believe and as u said, '20 days' does not have any significance. this system probably can be traded on any false breakout of any high or low which is 4-5 days old. why I say 4-5 days is becos none of us wants to get trapped in a 'HDIL' which is trending on one side.
on the other hand any swing trading system to be profitable wd need its winners to run for a while.... the authors say so..trades can be carried fr a few hours to a few days..
our dear friend ST says..
It is a swing trading method so the losses are small and when it catches the reversal, the profits are much larger.

I did not even see one profitable trade being carried on fr the next day..where wd the 'larger profits' come frm?

regards

 

[rangarajan]

Dear Rkkarnani ji.

I believe and as u said, '20 days' does not have any significance. this system probably can be traded on any false breakout of any high or low which is 4-5 days old. why I say 4-5 days is becos none of us wants to get trapped in a 'HDIL' which is trending on one side.
on the other hand any swing trading system to be profitable wd need its winners to run for a while.... the authors say so..trades can be carried fr a few hours to a few days..
our dear friend ST says..
It is a swing trading method so the losses are small and when it catches the reversal, the profits are much larger.
I did not even see one profitable trade being carried on fr the next day..where wd the 'larger profits' come frm?
regards

anuragmunjal,

Thank u for coming forward to share yr experience in this TS for which i had posted the welcome address some time back.

Do u mean to say that the followers of TS in this forum had failed to capitalize their profitable trade by NOT carrying their trades Further till their Trailing S/L were hit,thus losing opportunity for Larger profit as stated by Smart?

Do u further say that this TS is for Swing only & Not repeat Not Intra day?
In which case,we r misusing it by denied opportunities for larger profits.

If so,pl tell us yr experience,how dependable this strategy for Swing,what type of shares to be traded & if 20 is not magic,what alternative could be tried.
Need less to say,we have No patience to Reinvent the wheel.

Pl elaborate,how u would have traded Tata steel,cash, as per TS or plus one,as it did not give profits on both,unless we carry.

 

[rkkarnani]

Dear Rkkarnani ji.

I believe and as u said, '20 days' does not have any significance. this system probably can be traded on any false breakout of any high or low which is 4-5 days old. why I say 4-5 days is becos none of us wants to get trapped in a 'HDIL' which is trending on one side.
on the other hand any swing trading system to be profitable wd need its winners to run for a while.... the authors say so..trades can be carried fr a few hours to a few days..
our dear friend ST says..
It is a swing trading method so the losses are small and when it catches the reversal, the profits are much larger.

I did not even see one profitable trade being carried on fr the next day..where wd the 'larger profits' come frm?

regards

Thanks for giving time here for benefit of all. My 'random' thoughts, sorry for them not to be in a proper sequence...

In a way are we not trading 4/5 days false breakdown/breakout here ?
A 20 day low is made and the same is not breached for next 4/5 sessions and then this 20 day low gets broken down on 5th/6th day but this breakdown does not last long and moves above either the same day (TS) or the next day (TS+1)

Just my take from what I gathered from the readings on the Net : The authors did not at any place say that this is for a "few hours" to a few days. They also never had given an Intraday chart for this strategy. In the previous thread I had pointed this out, but was referred to a link where someone had said that this can be used in"any time frame" but it was not the original authors !
Would it be correct to say that a 20 day failed breakout would tend to reverse more than a 4/5 days failed breakout.

I think the main reason for a trade not being carried over here is very obvious ! This set up had a wrong start ! Trade triggered gave good moves intraday and created an euphoria and the focus was :" One lot futures gave profit of so many thousands in just so many minutes" and as it was also mentioned that this can be traded in any time frame people preferred to use it intraday only and now when the initial euphoria is lost members here who were exposed to a new strategy find it difficult to adapt to positional trades !

Personally I have fear of gap opening against my position!

I have no idea whether the people who advocated that this Set Up can be used in any TF used Intraday charts of lower time frame !!

A continued mentoring of this thread would be really appreciated. Do post here your views whenever you find time.

Regards.