Pride's Intra-Day Strategy [Profit Everyday]

[joy.edakad]

Joy,

Pride has updated the first 2 posts of the thread. All rules are clearly summarised. In case you have a doubt over anything , do post and I am sure you will be answered.

Thanks

Happy Trading

sorry, not looked there in recent days

 

[HEM]

Today's Trades:

Total profit of about 50 Points

This ends week 2 of trading with this system on this forum.

Summary of Profits:
15/06/2009: 40 points
16/06/2009: 68 points
17/06/2009: 85 points
18/06/2009: 25 points
19/06/2009: 101 points
22/06/2009: 45 points
23/06/2009: 74 points
24/06/2009: 51 points
25/06/2009: 56 points
26/06/2009: 51 points
----------
596
----------

Average of around 60 points with all days positive

Excellent and Wonderful Pride :clapping::clapping:
Thank you very much.

Best wishes
Hemant

 

[bandlab2]

backtest results template

 

[humble]

Hello Satya,

This method has its success due to the fact that it filters its entries by sideways method ( 30 min stoc set up and 5 min stoc crossover ) and also by a trend following MA crossover...so when all agree we take a trade which gives a high success rate....with stocastics we are trying to avoid a long entry in short term overbought market ( and subsequent false trades/reversals )

Smart_trade

Thanks ST Da for the explanation. I lookout for your posts everywhere on this forum, every reply is a gem :clapping:.

And Guys who are interested in this method please please backtest this method with whatever scrip you want to trade with. Only when you backtest you will know what trades to take and what you should not and what modifications you can make to suit your own comfort, the foundation [entry for a trade based on Pride's method] is spot on [highest strike rate :clap: on this forum].

Pride/Ankit today I took the following trades:
1st trade: 4276-4286 = 10
2nd trade: 4280-4317 = 37
3rd trade: 4334-4324 = -10
4th trade: 4330-4386 = 56
Total = 93 points.

Strictly sticking to the method would generate the first 2 trades and as we all know is more than enough if we consider the longterm performance .

One thing I observed while backtesting was that when the price is in continous uptrend [like today or June 9th] or in a single trend to say, it might be useful to consider the "stoch crossovers" to reenter with "tight-trailing-stop-loss". My only intention to mention the 3rd and 4th trade is to make everyone think loud based on the wonderful foundation proivded by "Pride's intraday method".

There are so many wonderful methods on this forum, mixing all those to an individual's comfort is the key thing, it will be tough but in the longer run as a trader will do wonders and someday be like TJ stalwarts ST da or Savant sir.

Regards,
-Sri

 

[ag_fx]

Thanks ST Da for the explanation. I lookout for your posts everywhere on this forum, every reply is a gem :clapping:.

And Guys who are interested in this method please please backtest this method with whatever scrip you want to trade with. Only when you backtest you will know what trades to take and what you should not and what modifications you can make to suit your own comfort, the foundation [entry for a trade based on Pride's method] is spot on [highest strike rate :clap: on this forum].

Pride/Ankit today I took the following trades:
1st trade: 4276-4286 = 10
2nd trade: 4280-4317 = 37
3rd trade: 4334-4324 = -10
4th trade: 4330-4386 = 56
Total = 93 points.

Strictly sticking to the method would generate the first 2 trades and as we all know is more than enough if we consider the longterm performance .

One thing I observed while backtesting was that when the price is in continous uptrend [like today or June 9th] or in a single trend to say, it might be useful to consider the "stoch crossovers" to reenter with "tight-trailing-stop-loss". My only intention to mention the 3rd and 4th trade is to make everyone think loud based on the wonderful foundation proivded by "Pride's intraday method".

There are so many wonderful methods on this forum, mixing all those to an individual's comfort is the key thing, it will be tough but in the longer run as a trader will do wonders and someday be like TJ stalwarts ST da or Savant sir.

Regards,
-Sri

Gr8 job done my friend. Why dont you post a chart too so that other traders can take a look at it.

Now, coming to the question of using stoch crossovers on continuous trending days...Well we dont really know when are we having continuous trending days.Only when we look at left hand side of chart we realise it was continuous.
But none the less, it can be managed with proper risk management. Risk vs Reward is always a straight line(ideally). And if you can do proper loss management, no doubt you can stay in the game for long.
Even I was of the opinion that I should have taken some Long trades(post market though ), but then I realised that the original system generated mmore than 40-50 points on range bound days. If I try getting more agressive, I will loose on those days and win big on days like today.

To me, it seemed a Zero Sum Game. But, I would be eager to follow your trades in your style. Just dont put them during the day(as it may confuse many guy around), may be EOD.

Happy Trading

 

[HEM]

Thanks ST Da for the explanation. I lookout for your posts everywhere on this forum, every reply is a gem :clapping:.

And Guys who are interested in this method please please backtest this method with whatever scrip you want to trade with. Only when you backtest you will know what trades to take and what you should not and what modifications you can make to suit your own comfort, the foundation [entry for a trade based on Pride's method] is spot on [highest strike rate :clap: on this forum].

Pride/Ankit today I took the following trades:
1st trade: 4276-4286 = 10
2nd trade: 4280-4317 = 37
3rd trade: 4334-4324 = -10
4th trade: 4330-4386 = 56
Total = 93 points.

Strictly sticking to the method would generate the first 2 trades and as we all know is more than enough if we consider the longterm performance .

One thing I observed while backtesting was that when the price is in continous uptrend [like today or June 9th] or in a single trend to say, it might be useful to consider the "stoch crossovers" to reenter with "tight-trailing-stop-loss". My only intention to mention the 3rd and 4th trade is to make everyone think loud based on the wonderful foundation proivded by "Pride's intraday method".

There are so many wonderful methods on this forum, mixing all those to an individual's comfort is the key thing, it will be tough but in the longer run as a trader will do wonders and someday be like TJ stalwarts ST da or Savant sir.

Regards,
-Sri

Excellent Sri :clapping:
please post a chart with your trades taken by you today.
Thanks

Hemant

 

[amol_gh123]

Hi Pride,Ankit and all,

I have gone through the complete thread... also I understood the Pride's strategy for nifty futures trading. Based on the various suggestions, I am going to subscribe to investbulls for a month.

But have a little doubt... I learnt from replies that for 30 min. we have to switched to atleast 2 days data... but I am not able to find option to switch over to 2 days data.

I am attaching screenshot of Chart Panel (which most of u already seen on this thread )...also I am attaching screenshot of Timeframe settings .... tried changing these timne frame settings, but it is not refreshing the display of chart...
If anyone can guide me step by step to switch over it to 2 days would be a gr8 help....

Also I appreciate for sharing this strategy by Pride and Ankit...:clapping:
million thanks to them.....

I hope i am not annoying by asking this question again....

 

[.Pride.]

One thing I observed while backtesting was that when the price is in continous uptrend [like today or June 9th] or in a single trend to say, it might be useful to consider the "stoch crossovers" to reenter with "tight-trailing-stop-loss". My only intention to mention the 3rd and 4th trade is to make everyone think loud based on the wonderful foundation proivded by "Pride's intraday method".

Regards,
-Sri

Dear Sri, even I was tempted in the initial days to re-enter on subsequent stoch crossovers when EMAs had already crossed and one trade had been completed.
But what I observed was that such days come only 2-3 times in a month where these entries prove profitable. On other days, these crossovers provide just a couple of points. Too much work for too little reward, i think.
Ankit has said the same thing in his reply to your post.

Anyway, each person has his/her own trading style, and my personal bias towards less number of trades per day is reflected in this system. That is why you will rarely get more than 3 trades per day.

But please do share with us if any of your modifications prove consistently profitable, as I am open to making changes in this system. After all, that is why all of us are here

 

[joy.edakad]

Hello Pride,

I am seeing a small difference in ema values in ur charts and the one at my end. May be the no. bars loaded in the chart is causing the difference. I think ur chart is from invest bulls. I have to sort out the cause before proceeding with the afl. Usually how many days data is loaded into ur chart.

It is great of u that u disclosed an ATM ( automated teller machine ) here.

Regards

 

[e10806]

Hello bandlab sir,


as your tool the backtesting xls seem very good but i don't know how to use this pls tell us for our forum member