My Day Trading System

[brownsfan019 17]

Hi Brown,

 

So kind of you. How are you?

 

I am yet to figure out how I can contribute to your thread. I went thru' the whole thread, and saw lot of our friends sharing their trade details.

 

I will see you there.

 

Healthy And Wealthy Trading.

 

It's rather easy actually - you share how your day went w/ your trading and can provide screenshots of your blotter as well. Fairly straight forward. The thread is mainly used by those that trade and looking for extra motivation.

[psb67 10]

It's rather easy actually - you share how your day went w/ your trading and can provide screenshots of your blotter as well. Fairly straight forward. The thread is mainly used by those that trade and looking for extra motivation.

 

Fair enough Brown. I would rather share my experience and methods I follow and practice.

 

Healthy And Wealthy Trading

[psb67 10]

Hello friends,

 

I am attaching gbp/jpy 5 Min & 15 Min. charts for your understanding.

 

Yesterday's rise, after a good correction, proved to be a short-lived one, nevertheless, it does not make any difference for our scalping friends,who would be enjoying this lovely pair at every stage.

 

Supports: 145.25, 144.95 & Resistance: 146.25, 146.65,

 

Healthy And Wealthy Trading

[psb67 10]

Dear Friends,

 

I am attaching 2 charts:1M & 5M of gbpjpy with my demo trades with my indicators. Created this chart only to share with you a simple SOLIMO system that I am following without rainbow indicators.

 

You have to pardon me for I am yet to master my interpretation skills and once again leaving the same to you, for you are far better in doing it.

 

I once again reiterate, these are only demo trades not the real ones. The purpose of sharing is to help my fellow traders improve their pips scores with ease.

 

Healthy And Wealthy Trading

 

Sureba67

[daedalus 10]

thanks for marking up the entries... really makes a lot more sense now!

[psb67 10]

thanks for marking up the entries... really makes a lot more sense now!

 

Good to hear that. I have to improve my presentation skills for this is the first time I am presenting my system, using your words, in a sensible manner.

 

I realize such presentations would help our friends in a better manner to fine tune their charts, which according to me contribute 20% but has the potential to eat away 100% of our a/c balance, instead of just making a show-off of my grand charts. lol

 

Thanks my friend.

 

Healthy And Wealthy Trading

[brownsfan019 17]

Fair enough Brown. I would rather share my experience and methods I follow and practice.

 

Healthy And Wealthy Trading

 

I see.

 

In the interest of fair disclosure, do you trade this system yourself w/ real money? Obviously there's a little more consideration to be given to those that practice what they preach. I ask b/c there are some guys out there that like to chat about trading but don't actually do it (or cannot produce any evidence of actually doing it). I'm sure you understand the question.

[psb67 10]

I see.

 

In the interest of fair disclosure, do you trade this system yourself w/ real money? Obviously there's a little more consideration to be given to those that practice what they preach. I ask b/c there are some guys out there that like to chat about trading but don't actually do it (or cannot produce any evidence of actually doing it). I'm sure you understand the question.

 

Thanks Brown.

 

I have clearly mentioned in my profile I don't trade forex real time. Till last year I was trading real time, had to stop due to regulatory issues in my country, which prohibit remittance of funds against Margin trading with overseas brokers. Also, I don't use Credit cards. I only train free those who are interested in learning my system and share with them my experience to improve their trading. I don't find anything wrong with it.

 

I never discuss in a public forum a system nor do I share with my friends that I never worked with before, however great it is. I use my system with my stocks trading and doing very well with it. Even in stocks, I give only free calls to my friends based on my system. I enjoy doing it.

 

No system is 100% fool proof. Even if a system is infallible, it ultimately depends on the person who uses it. We all know this.

 

I can discontinue my entire discussion if it is found to be useless by either moderators or by other members in any form.

 

Healthy And Wealthy Trading

[brownsfan019 17]

Fair enough. Just curious if the discussion here is being used in trading. I appreciate your candor and honesty. That's a rare trait in this business.

[psb67 10]

Fair enough. Just curious if the discussion here is being used in trading. I appreciate your candor and honesty. That's a rare trait in this business.

 

Thanks again Brown.

 

I can understand your concern. One of the reasons I was shying away from public forums for long, I knew I would be looked at askance however sincere my efforts were going to be.

 

Even if I were to be thrown out fr. here at this very moment, I will leave with full satisfaction, I had contributed little but of value. If I want paid clients, I can get 100s instantly from our own stock broking house for we are one of the leading members of a number 1 stock exchange in India. Our clients are stinking rich. I am not interested. I am in stocks since 1992. Have seen enough, experienced more than necessary.

 

Perhaps I should slow down a little, I think that's the message I am receiving.

 

Healthy And Wealthy Trading

[psb67 10]

My dear friends,

 

Taking cue from our friend Brown and respecting the decorum of this wonderful, rich forum, I have decided to discontinue posting my messages. What Brown indicated was 100% a fact, I fully understand and accept it. A guy, not trading real time is not worth trusting, however great his system or analysis he claims to be.

 

I had been under the wrong impression, a good analyst and adviser need not necessarily be a good trader nor he needs to be in trading. Well, I may be wrong in my belief.

 

I would like to thank you all for your over-whelming response and encouragement and I would pray for all of you to trade well. My sincere thanks to the moderators.

 

My special thanks to our friend mfondren

 

Healthy And Wealthy Trading

[BlowFish 10]

Not at all. I say please keep posting.

 

It is not an approach that appeals to me but let people judge the method on it's own merits. If people want to judge you (rather than your work), you seem like an honest and open chap as Brown pointed out.

 

Brown is a candlestick fan. Nisson the self proclaimed "introducer of candlesticks to the west" is not even a trader but many would argue (including Brown I am sure) that his writing has valuable insights into candlestick charting.

[jscphoto 10]

Nice post, enjoyed reading

[systrader 10]

Hi psb67,

 

I'm new to this forum (first post but lurking for many weeks). I just wanted to thank you for your posts. In all honesty, I'm an old trader returning to "the game" after 20+ years of not trading. I'm at a point in life now that I can devote the time/energy to trading and I am really enjoying reading up on different systems/techniques/etc.

 

My temperament seems to be geared more towards day trading and scalping (I used to be a long term trader). Anyways, big thank you.

 

Cheers

--Troy

[psb67 10]

Hi psb67,

 

I'm new to this forum (first post but lurking for many weeks). I just wanted to thank you for your posts. In all honesty, I'm an old trader returning to "the game" after 20+ years of not trading. I'm at a point in life now that I can devote the time/energy to trading and I am really enjoying reading up on different systems/techniques/etc.

 

My temperament seems to be geared more towards day trading and scalping (I used to be a long term trader). Anyways, big thank you.

 

So kind of you Troy.

 

Healthy And Wealthy Trading

Healthy And Wealthy Life - Troy.

[psb67 10]

Traits Of A Responsible Man (Trader)

 

What It Means To Be Responsible - My Personal Experience

• A responsible man first accepts and understands the need for the existence of irresponsible human beings, for without them there will not be a balanced life.
  
• A responsible man also understands to be responsible is not that easy but eventually achievable
  
• A responsible man (trader) treats trading as a business not as a hobby
  
• A responsible man (trader) respects every aspect of his business
  
• A responsible man (trader) applies his personal life principles, values in his business
  
• A responsible man (trader) works more on himself than spending time on trading systems
  
• A responsible man (trader) first spends time learning the very basic requirements of his business and then starts applying and practicing, for he understands trading is an on-going process, every trade is unique, in every trade there is a lesson to learn.
  
• A responsible man (trader) does not invest today with the dream of becoming rich yesterday
  
• A responsible man (trader) holds only his actions/inactions accountable for his successes and failures, does not waste time passing the buck on world events and others.
  
• A responsible man (trader) works regularly on learning more from his successes than his failures, for he considers failures as events of the tasks he undertook.
  
• A responsible man (trader) employs his full emotions in his business, he doesn’t waste time controlling something that was not acquired from a super market
  
• A responsible man (trader) learns the importance of savings
  
• A responsible man (trader) closes his terminals once he has achieved his daily targets, whether in one trade or multiple trades
  

 

The ugly side of the sub-prime, Alt-A, B etc. was known way back in 2007 itself. It’s the total irresponsibility of us, which led to this catastrophic situation; I don’t squarely blame only the banks and institutions. If and when a friend of mine comes and tells me, there is a bank which offers loan without any valid documents and only they charge higher interest, and he wants to go for it when he is not earning adequately to support him, I would slap him and tell him to forget it.

 

The greed of big guys did not ask or tell us to fall for their greed. It did only warn us on time to stay away from it.

 

We are more focused on analyzing the character of our politicians but we fail to understand our own. It’s high time we started doing that first, if we wish to become not only successful in trading but mainly in life in a responsible manner.

 

Healthy And Wealthy Trading

 

Sureba67

[cato1974 10]

Fantastic list... !!!

[psb67 10]

Hello Friends,

 

I wish to convey everyone a Peaceful, Highly Healthy And Wealthy New Year

 

Sureba67

[white_goodman 10]

I dont get it, where is the explanation of this 'system'

[psb67 10]

Wish you all a highly Healthy And Wealthy New Year.

[psb67 10]

Its quite a long time since I effectively made any contribution in TL. As it has always been my nature to share with and learn from my fellow day traders any system I develop and work in live market, I am presenting yet another simple system but effective under almost all the market conditions, esp. in volatile market.

 

I wish to make it abundantly clear to my fellow traders like before, for now, I trade only Indian stocks and USDINR futures. Due to regulatory issues, I can't trade overseas markets.

 

I had to discontinue trading fully due to my health factors for quite some time; now I am fully back. I may post my trading results only for learning purpose.

 

I will be more than happy if my fellow traders find the system working for them and guide them any time they need my assistance.

 

The features of the present system:

 

1. The market I trade: NSE, India

2. Instruments: JSW Steel, Tatamotors, SBIN, USDINR futures.

3. Trade only one or two instruments at a time.

 

Indicators I use:

 

1. HMA - 26

2. MACD - 12,26,9

3. RSI - 14,6

4. Bollinger Bands - 14, 0.26

5. Murrey math and Pivot Points

 

Charting software - Ninjatrader 7

 

Entry methods:

 

For Long Bulls:

 

1. Price is clearly above the HMA and Bollinger bands

2. MACD histogram is above zero level

 

For Short Bulls:

 

1. Price is clearly below the HMA and Bollinger bands

2. MACD histogram is below zero level

 

As usual, I use MACD and RSI to measure the strengths and weaknesses of the price movements.

 

I am attaching 2 charts with 456 sec and 933 sec. The charts are almost self explanatory but in case any clarifications required, I would love to help you out.

 

Healthy And Wealthy Trading

Sureba67

Edited January 8, 2012 by psb67

[psb67 10]

Hello to everyone.

 

After briefly stopped trading for couple of days due to persistent headache, I started again today.

 

Today did 3 trades on USDINR. The first one despite getting 12 ticks within couple of min., was adamantly waiting for 20 ticks and at the end had to close it with just brokerage loss.

 

Although 2nd and 3rd were good ones I was not entirely satisfied because I am yet to overcome scalping mentality and have to work hard to run the position to achieve at least 20 ticks per trade so that I score more than my break-even level of 6 ticks.

 

Attaching herewith my today's trades with chart for reference.

[Evhybrid 10]

Hello PSB, I've never posted in your thread but It's nice to see you back. I joined TL back in 07/2009 and to this day I have your "Traits of a responsible man(trader)" list still copy and pasted on the first page of my trading plan. You are truly motivational and I for one appreciate your contributions to TL. Welcome back sir.

[psb67 10]

Hello PSB, I've never posted in your thread but It's nice to see you back. I joined TL back in 07/2009 and to this day I have your "Traits of a responsible man(trader)" list still copy and pasted on the first page of my trading plan. You are truly motivational and I for one appreciate your contributions to TL. Welcome back sir.

 

Hello Evhybrid,

 

Good eve. to you. So kind of you to reply.

 

I made it long ago as one of my principles to share with my fellow traders what I learn from my trading life, thanks to my fellow traders from USA, without whose self-less efforts and broadmindedness, today we will not be where we are. So I consider my efforts are nothing compared to them.

 

Nice evening.

[sorhash 10]

Its quite a long time since I effectively made any contribution in TL. As it has always been my nature to share with and learn from my fellow day traders any system I develop and work in live market, I am presenting yet another simple system but effective under almost all the market conditions, esp. in volatile market.

 

I wish to make it abundantly clear to my fellow traders like before, for now, I trade only Indian stocks and USDINR futures. Due to regulatory issues, I can't trade overseas markets.

 

I had to discontinue trading fully due to my health factors for quite some time; now I am fully back. I may post my trading results only for learning purpose.

 

I will be more than happy if my fellow traders find the system working for them and guide them any time they need my assistance.

 

The features of the present system:

 

1. The market I trade: NSE, India

2. Instruments: JSW Steel, Tatamotors, SBIN, USDINR futures.

3. Trade only one or two instruments at a time.

 

Indicators I use:

 

1. HMA - 26

2. MACD - 12,26,9

3. RSI - 14,6

4. Bollinger Bands - 14, 0.26

5. Murrey math and Pivot Points

 

Charting software - Ninjatrader 7

 

Entry methods:

 

For Long Bulls:

 

1. Price is clearly above the HMA and Bollinger bands

2. MACD histogram is above zero level

 

For Short Bulls:

 

1. Price is clearly below the HMA and Bollinger bands

2. MACD histogram is below zero level

 

As usual, I use MACD and RSI to measure the strengths and weaknesses of the price movements.

 

I am attaching 2 charts with 456 sec and 933 sec. The charts are almost self explanatory but in case any clarifications required, I would love to help you out.

 

Healthy And Wealthy Trading

Sureba67

 

 

 

 

Hi PSB, may I know from which Indian broker you get the datafeed for Indian currency and stocks for Ninja trader