Pride's Intra-Day Strategy [Profit Everyday]

[Satyen]

BTW, don't know about members, but one person MUST have really benefited from this method's introduction in this forum - Satya from Investbulls.com :rofl:
Just few days before the 1st post of this thread, he had brought down the monthly subscription rate from Rs 500/- to Rs 350/- :annoyed:
Good for those who needed it.

(although Sharekhan's TradeTiger, which offers more advanced charting facility, is also available at one time cost of Rs 1000/-, which is fully adjustable against brokerage generated)

Ah did not know that and i use Icharts.in Again to clarify ,that i m different Satya than investbulls "Satya " lot of people confuse by the name ,,,,,,,,

Any way i m a kid in market

Regards
Satya

 

[Satyen]

And thanks for giving link to Dhirajs thread need to go thru the posts

Regards
Satya

 

[Sunil]

Sunil ji can you post the backtest data as you post in excel sheet

Regards
Satya

Jiiiiiiiii !!!!!!!!!

(just to confirm I am talking to the same old buddy - old ID = satya_pinku, please correct me if i m wrong)

I just backtested last 5 days charts which have been put up on this thread. I am unable to backtest more - I feel forward testing would be fine, as this is unlike Dhiraj's 2652, which is tradeable solely off excel - no need of any charting tool)
Except for 1-2 trades of Ankit (which he himself said is not exactly as per system), others were fine.

There's a phenomenon called "Revision to Mean" - you put on any TF chart, and any period SMA on it, and just observe the price behaviour around this MA. It tends to move back towards this MA over a period of time (depending on the TF of your chart), if it wanders far away from this MA.

Video on this MA Magic

MA crossovers are said to be effective in avoiding whipsaws, false breakouts, etc.



I am noticing that in most cases, EMAs are already bearish (for example) even BEFORE stochs confirm the SELL signal.
I would agree with Ankit that such trades are worth taking, BUT I WOULD VERIFY THAT THE CLOSE PRICE OF THE BAR IS NOT FAR FROM THE EMAs. Else, they might tend to move towards them.


Today, if we stick strictly to the order as given by Pride, then no trades have triggered. But, incorporating Ankit's (who is now well-versed with most TA concepts - observing his posts since long time in other threads too) suggestion of observing gap between EMAs, he took two trades.



The first one (in yellow) turned out to be decent enough, but the second one (in purple) did not.
The reason is the same - in theory - price had moved too fast and too far from the EMAs, and there was a possibility of coming back towards them.

Hence, if:
5min stochs give same signal as 30min Stochs (let's take, sell signal as example)
and
the two EMAs are already in bearish crossover many bars before

then, for going short, I would see:
1. the gap between the two EMAs should be visibly less
and
2. the gap between the closing price of the particular bar, and the EMAs should also be less.



Continuing the illustration, if the EMAs make the bearish crossover, just one bar before the stochs confirm sell signal, I would go short immediately near the closing price of that bar.

Yesterday's last trade is good example...

as aforesaid, I would take such trades where EMAs are already bearish (for example) the stochs gave signal, but would not want the gap between the closing price of the bar, and these EMAs to be wide.
As it is, we are not supposed to take such trades where EMAs do not cross AFTER stochs give signal.
So, a small precaution is needed, when pre-empting such trade where EMAs do not crossover after stochs have given a particular signal.

 

[Satyen]

Thanks Sunil bhai great explanation ...........

Yes Same old Guy (not in age ) u r talking to

Regards
Satya

 

[ag_fx]

After visiting Pride of Bombay[/URL] in morning, very glad to see another potential Pride of Traderji Forum thread now.

Seeing Ankit's Bala's & others' active participation, I am getting a sense that this is going to be another GEM of the forum, after Dhiraj's 2652 System[/URL].

Bactested this method on last few days' NF data - seems attractive.

Atleast one "chota" refill of bank balance everyday - no need of CA/TA knowledge.

Thanks a lot .Pride. for sharing this system with the forum members... :thumb: :clapping:

After few more days of successful forward testing, it should qualify to be made "sticky".

Jiiiiiiiii !!!!!!!!!

(just to confirm I am talking to the same old buddy - old ID = satya_pinku, please correct me if i m wrong)

I just backtested last 5 days charts which have been put up on this thread. I am unable to backtest more - I feel forward testing would be fine, as this is unlike Dhiraj's 2652, which is tradeable solely off excel - no need of any charting tool)
Except for 1-2 trades of Ankit (which he himself said is not exactly as per system), others were fine.

There's a phenomenon called "Revision to Mean" - you put on any TF chart, and any period SMA on it, and just observe the price behaviour around this MA. It tends to move back towards this MA over a period of time (depending on the TF of your chart), if it wanders far away from this MA.

Video on this MA Magic

MA crossovers are said to be effective in avoiding whipsaws, false breakouts, etc.



I am noticing that in most cases, EMAs are already bearish (for example) even BEFORE stochs confirm the SELL signal.
I would agree with Ankit that such trades are worth taking, BUT I WOULD VERIFY THAT THE CLOSE PRICE OF THE BAR IS NOT FAR FROM THE EMAs. Else, they might tend to move towards them.


Today, if we stick strictly to the order as given by Pride, then no trades have triggered. But, incorporating Ankit's (who is now well-versed with most TA concepts - observing his posts since long time in other threads too) suggestion of observing gap between EMAs, he took two trades.



The first one (in yellow) turned out to be decent enough, but the second one (in purple) did not.
The reason is the same - in theory - price had moved too fast and too far from the EMAs, and there was a possibility of coming back towards them.


Hence, if:
5min stochs give same signal as 30min Stochs (let's take, sell signal as example)
and
the two EMAs are already in bearish crossover many bars before

then, for going short, I would see:
1. the gap between the two EMAs should be visibly less
and
2. the gap between the closing price of the particular bar, and the EMAs should also be less.



Continuing the illustration, if the EMAs make the bearish crossover, just one bar before the stochs confirm sell signal, I would go short immediately near the closing price of that bar.

Yesterday's last trade is good example...


as aforesaid, I would take such trades where EMAs are already bearish (for example) the stochs gave signal, but would not want the gap between the closing price of the bar, and these EMAs to be wide.
As it is, we are not supposed to take such trades where EMAs do not cross AFTER stochs give signal.
So, a small precaution is needed, when pre-empting such trade where EMAs do not crossover after stochs have given a particular signal.

Ahhh......You cant believe How happy I am sseeing your posts on this thread and your inputs on the same.

Infact, I must admit, today after closing Bell, I was planning to work upon the 2nd Trade of the day on how to handle it.
It appeared to me that a similiar trade could have been taken 3 more times in the day.Out of 4 total such trades, here is the possible PnL(-12,+28,-8,+22). At once, I thought of taking all trades from next time and decided to put this on the forum too.
But, when I come here, I see another veteran posting his trades and charts and helping us out. It is the best way to tackle this situation. Though, a bit subjective(the distance between EMAs and price), but none the less effective and more than manageable with a little bit of hard work put in by anyone.

Just another time, I wanna say this....
:thanx:


Happy Trading

 

[SavantGarde]

Hi Sunil,

Your Stoch Settings Shown Are (3,8,4) Is That Deliberate.

Happy & Safer Trading

SavantGarde

 

[prabit]

hi regardson, did you use the pride's strategy? Whether pride's strategy can be used for cash scrips also? Whose software you are using? I thought it is used for nifty only.Pl advise.
Thanks

 

[regardson]

hi regardson, did you use the pride's strategy? Whether pride's strategy can be used for cash scrips also? Whose software you are using? I thought it is used for nifty only.Pl advise.
Thanks

hi prabit,
Since last week, I am doing paper trading in both cash and nifty, without any changes in pride's setting..

I have posting my comments according to my exp in cash segments..

The only thing you have to be cautious are

trading before 11. am
Only take position if you get a clear signal... according to the statergy.

I did not find any thing else..
I will be starting my real trade in couple of days.

goodluck

 

[Sunil]

Hi Sunil,

Your Stoch Settings Shown Are (3,8,4) Is That Deliberate.

Happy & Safer Trading

SavantGarde

That's how Sharekhan's terminal presents it:

The main stochastic line is known as %K, and is calculated over a specified number of days/bars, in this case, it is 8.

A short term moving average is applied to %K and this timing line is known as %D, which is 3 for this system.

A third variable is used to slow or smooth the %K line by displaying it as a moving average, which for us is 4.

 

[regardson]

That's how Sharekhan's terminal presents it:

hi sunil,
Is this the settings according to pride... Since last 1 week i am trading with
8,3,4...
Pls advice