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Monday 20 October 2014

Intraday Trades - 20.10.2014

Intraday: A Big Gap up. There was no follow up, so planned to short.
1) Short on BOF of IRH. Closed at red line.
2) Again Short on BPB. Closed at BRN.
3) Long on BOF of BRN. Closed at my SL.
4) Again a Long thinking it as a good rejection. 3rd time gave my SL.

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4 comments:

  1. Unknown21 October 2014 at 12:55

    If the arrows indicate the exact candle which made you take the trades,then enter at High and Low of the candles preferably with filter.That will avoid a lot failed trades like the 3rd ones today and yesterday.

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  2. Deven Malhotra21 October 2014 at 17:35

    Hi Manjunath,

    Thanks for the feedback. I actually buy at the highs/ lows. Will mark from today onwards on my charts. Can you elaborate the filter part, so that i can improve.

    Thanks,
    Deven Malhotra

    ReplyDelete
  3. Unknown21 October 2014 at 20:43

    entering at high lows is enough. Filter is just a random thing, not much of a logical thing. By filter i meant entering at High+1, that way you can avoid the trades which dont even go 1 point above high in your favour. What doesnt even go 1 point in your favor tells you how strong that signal is! Also try with 2 point filter. This may be of less significance for the core strategy but MTM may improve. You can just backtest with these filters for a month and see that you cud ve avoided a few trades.

    But i dont see you entering at High Lows or may be your deciding candle is different. For example, look at the third trade, the deciding candle shouldve been that hammer which sits on the BRN line, not the previous one as its clearly rejected. So in that case entry shud ve been above hammer with/without filter.

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    Replies
    1. Deven Malhotra21 October 2014 at 21:58

      Oh, I got it.. For Entries, i look at only Pivots. My Last Pivot was just below BRN. Breaking that pivot by 1 pt makes me enter the trade. I don't wait for candle close. Sometimes, Candle close is too far disturbing all RR. For me, candles carry very less weightage & Pivots are only what counts.

      But still, i will observe this for few days, thanks for the feedback.

      Thanks,
      Deven Malhotra

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