Pride's Intra-Day Strategy [Profit Everyday]

[ag_fx]

Hi Ankit,

Most Important TFs Are 5,10,15 & 60 Min.

30 Min.....Doesn't Work Too Well In Any Kind Of System, Pride Has A Good Trading Strategy.....& All You Guys Should Do Very Well With Live Trading.

Happy & Safer Trading

SavantGarde

Ahhh...Words from a veteran...Thanks SG for the feedback

All credit goes to Pride!!!

 

[bandlab2]

hi Bandlab2,
You need to take 2 or 3 days charts together and then choose 30min, you will get the accurate reading. Are you using sharekhan, if so i can help you with that.
Iguess you got it... Instead of 1day chart with 30min , take 2D or 3D with 30 min.. and zoom to current day..

hi regardson, thank u for the explanation. now i understood, but my terminal (india info) doesnt provide historical IEOD charts, so i cant see yesterday's intraday chart. i can see today's intraday.

 

[HEM]

A below average day for me.
Just one trade worth 17 points.

Ankit took another good trade which I've shown in the chart, got another 34 points.
I couldn't trade that one as in my chart EMA did not touch/crossover

Pride what charting software you are using ?

 

[radha55]

Dear radha55, here are the settings that you had asked for.

Thanks Pride.

You are doing a great job.

 

[anandraos]

Thanks pride .bandlab what are you doing .

 

[.Pride.]

Pride what charting software you are using ?

Hem, it's not a software...just real time java charts provided by investbulls.com

Hi pride,
I wasn't able to do much today so nothing to post... But i do have a doubt, What if the 30 Min stoch is above the 80 or below the 20, if it curves before crossing the slow line or even if it crosses the slow but still in oversold or overbrought zone. Do we consider this as a reverse signal and if 5 min ema and stoch agrees with the stratergy, can we go for a trade.

As you must have seen so far, Dhiraj and lazytrader have given two views on the same.
I dont think we should be should be pre-empting anything on 30 min TF. However, Pride could let us know, what if the 30 min stoch is oversold and crosses back over bullish sign and vice versa for bearish sign? Do we take the trades then?

My guess is by the time the crossover takes place, the oversold/overbot condition will be over. Lets wait for Pride's reply.

Here are the possible positions of higher time frame momentum:

1. Bullish and not Overbought: Consider only long positions following the smaller time frame momentum bullish reversal.
(Bullish and oversold comes under this as well).

2. Bullish but Overbought: The upside should be limited in this case, and no new long positions should be taken.
If the higher time frame is overbought, the upside is usually limited before a momentum high is made, and there is not enough profit potential to execute a new long trade.

3. Bearish but not Oversold: A short position setup follows a smaller time frame bearish reversal.
(Bearish and overbought comes under this).

4. Bearish but Oversold: The downside should be limited and no new short positions should be taken.

You can use this strategy with any trading plan and is good with any two time frames of data.

You can use MACD or any other momentum indicator as well if you are not comfortable with Stochastic.

The dual time frame momentum strategy is a powerful filter to identify a trade setup.
The higher time frame identifies trade direction while the lower time frame momentum reversals in the direction of the higher time frame momentum are important filters to identify a trade setup.

If you want to, you can read a book by Rober Miner which extensively discusses Dual time frame momentum.
He too uses it as a filter, but his triggers are different from mine as he uses pattern recognition, fibonacci etc. while I use EMA crossovers.

 

[ag_fx]

Hem, it's not a software...just real time java charts provided by investbulls.com
Here are the possible positions of higher time frame momentum:

1. Bullish and not Overbought: Consider only long positions following the smaller time frame momentum bullish reversal.
(Bullish and oversold comes under this as well).

2. Bullish but Overbought: The upside should be limited in this case, and no new long positions should be taken.
If the higher time frame is overbought, the upside is usually limited before a momentum high is made, and there is not enough profit potential to execute a new long trade.

3. Bearish but not Oversold: A short position setup follows a smaller time frame bearish reversal.
(Bearish and overbought comes under this).

4. Bearish but Oversold: The downside should be limited and no new short positions should be taken.

You can use this strategy with any trading plan and is good with any two time frames of data.

You can use MACD or any other momentum indicator as well if you are not comfortable with Stochastic.

The dual time frame momentum strategy is a powerful filter to identify a trade setup.
The higher time frame identifies trade direction while the lower time frame momentum reversals in the direction of the higher time frame momentum are important filters to identify a trade setup.

If you want to, you can read a book by Rober Miner which extensively discusses Dual time frame momentum.
He too uses it as a filter, but his triggers are different from mine as he uses pattern recognition, fibonacci etc. while I use EMA crossovers.

Thanks buddy for the detailed reply. Could you please tell the name of the book that you just mentioned?

Also, I was testing this strat on RIL cash intraday for last 2 days and found that it works pretty well on RIL too. Its just that it has a little amount of whips or as we say falsies and thus SLes. In case you can share the logic behind the stochs and its settings and also behind the EMA selection, may be we can adjust it for cash segment too. I dont know..just a thought.

Happy Trading

 

[.Pride.]

i think the book is titled 'High Probability Trading Strategies' by Robert Miner. I would suggest that you read just the Dual time frame momentum chapters as other chapters contain the usual stuff related to pattern recognition, fibonacci, cycle analysis, money management, psychology, etc.

The stoch settings have been optimized by tweaking the lookback period and other variables so that the crossovers consistently came as close to price reversals as possible. It just requires patience, time and data to experiment on
Thats why it will be better to optimize stoch settings for each stock that you intend to trade, though the current settings work well on nearly all big ones due to similar type of movement.

similarly, ema settings were optimized, though 5 and 13 have always been preferred due to their fibonacci connotations as well. mostly two things need to be considered here; timeliness of the crossover and avoiding whipsaws...

 

[regardson]

Hem, it's not a software...just real time java charts provided by investbulls.com





Here are the possible positions of higher time frame momentum:

1. Bullish and not Overbought: Consider only long positions following the smaller time frame momentum bullish reversal.
(Bullish and oversold comes under this as well).

2. Bullish but Overbought: The upside should be limited in this case, and no new long positions should be taken.
If the higher time frame is overbought, the upside is usually limited before a momentum high is made, and there is not enough profit potential to execute a new long trade.

3. Bearish but not Oversold: A short position setup follows a smaller time frame bearish reversal.
(Bearish and overbought comes under this).

4. Bearish but Oversold: The downside should be limited and no new short positions should be taken.

You can use this strategy with any trading plan and is good with any two time frames of data.

You can use MACD or any other momentum indicator as well if you are not comfortable with Stochastic.

The dual time frame momentum strategy is a powerful filter to identify a trade setup.
The higher time frame identifies trade direction while the lower time frame momentum reversals in the direction of the higher time frame momentum are important filters to identify a trade setup.

If you want to, you can read a book by Rober Miner which extensively discusses Dual time frame momentum.
He too uses it as a filter, but his triggers are different from mine as he uses pattern recognition, fibonacci etc. while I use EMA crossovers.

Thank You Pride.... I am also looking for a slight change in stoch setting for intraday cash, where we could find an exit point at the highest.. do let us know if you have any thing in mind..

 

[regardson]

Hi ankit,
If you haven't got the book yet, here is the link to download the ebook that pride has given


http://ggggggg.com/