However, its default lookback period of 14 does not work well to identify short-term price swings. The result was numerous false signals. To read more, click on http: Markus Heitkoetter of Rockwell Trading, the ultimate coach I had ever seen. I present here his Ultimate Day Trading System article with his videos for your understanding.
For more click here: Bollinger Bands is a versatile tool combining moving averages and standard deviations and is one of the most popular technical analysis tools available for traders. There are three components to the Bollinger Band indicator:. To read full article: Over the past few weeks, I have written about using CCI and a moving average and have received good feedback from people who are trying that. Good evening to my fellow day traders.
Hope the weekend is going well. To his utter disbelief, I tripled my capital in under days and the same I lost in less than 30 days. To recall, out of the total number of trades traded during those days, I had lost only my first 2 trades and rest were all winners; most of them were position trades. The total wipe out was primarily due to over confidence but not due to the system. That was the first lesson I learned as a trader. The only drawback of this system that I know of is drawdown, other than that it is one of the best trend trading systems.
I have mentioned in the chart itself the EMA parameters. When I stumbled on Ninjatrader, I started learning coding of indicators from my close friend from Mumbai and also from Ninjatrader forums.
The main drawbacks of this system, the usual drawdown issues and most importantly can not be replicated in charting software available in India, at least to my knowledge. Both have no features to create custom indicators because both are more or less same software with same features. What a strange narrowness of mind now is that, to think the things we have not known are better than the things we have known.
I was amazed at the kind of volume that flowed in into the Nifty Futures. Lets hope the high spirits continue through the next week which has hardly 3 sessions followed by a long weekend. Life is a succession of lessons which must be lived to be understood. How many times in the past we would have witnessed our market responding in an opposite manner to the overall expectations whether it is the last day or first day of the expiry of the futures.
I had already mentioned in one of my posts that I totally avoid attempting any trades after hours unless I am damn sure. As the closing time was nearing, I got out at The first one was taken at I called it a day with just one good trade in the first 15 minutes. So, at last its all about GAAR that has been keeping our market on the edge, at least so to speak.
The second short trade lasted for a while but it was at the end worth waiting. With those two trades I quit for the day. It is note worthy to mention, one of my very close friends-a staunch critic of mine from Mumbai, opined that my market related posts are not that informative and exciting for traders as it used to be before.
I fully agreed with him and told him I changed my attitude and approach because the whole purpose of this entire blog is to serve me first, to help me learn, improve my trading and, to understand myself with respect to every trade that I am making.
I am neither excited nor interested nor inclined to write the same material that is available in other websites just for the sake of attracting more visitors. Even if I know, I am not interested in it. Of course I do rarely write cautioning the traders about the market.
In future I may charge for my time and my services but as of now I am more focussed on my personal trading and spending more time with my wife and my parents after the market.
I started the session by breaking my core tenets. Its seldom or ever I run two positions unless, I am too damn sure of what I am doing.
I have never been shy of committing mistakes or facing failures, both in my personal life as well as in trading but rectifying the mistakes immediately once recognized is all that matters.
This time I took that short with full conviction and closed the trade at With that trade I called it a day. However, do day traders need to worry about these matters, certainly not. I was not surprised to read our media passing the buck on European markets and weak Rupee. Overall, it was a terrific session. Attached here are my regular intraday charts and daily charts of the instruments I follow. Also attaching Nifty Spot Daily Chart for your reference. According to my system, 1. Good Morning to all my fellow day traders.
I have also added Nifty Spot chart for your reference. The daily charts are from Amibroker while the intraday charts are from Ninjatrader. Considering the manner in which the last phase traded, I would exercise caution on the short side for the time being, if I were to carry my position over night.
Enter your email address to subscribe to this blog and receive notifications of new posts by email. Day Trading , Technical Indicators Tags: From Online Trading Concepts: There are three components to the Bollinger Band indicator: Healthy And Wealthy Trading. My first trading system: My second trading system When I stumbled on Ninjatrader, I started learning coding of indicators from my close friend from Mumbai and also from Ninjatrader forums. Just a reminder, if it is useful to any of you, Settlement Dates: Presenting here my intraday as well as daily charts for your reference.
To sensible men, every day is a day of reckoning. Presenting here my usual intraday and daily charts for your reference. Good Morning to my fellow day traders.
Good Morning to my fellow Day Traders. State Bank Of India is putting up a good fight. Charts Healthy And Wealthy Trading. Follow Me Enter your email address to subscribe to this blog and receive notifications of new posts by email. Join 1, other followers.
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