I highly recommend using a profit target to take profits and get out of a trade before it turns against you. Is this a new bull trend in Bitcoin? Tick charts remove the time factor from charts and add volume and volatility to your bars. Below is an example of the double bottom outside of the lower band which generates an automatic rally.
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. This strategy is a simple trend following strategy that should work in any market, but as a day trader I prefer to trade futures.
When selecting a timeframe, we prefer tick charts for this strategy. This means that a bar or a candle is plotted every 4, trades. All that counts is the amount of trades that have been executed in the market. The advantage of using tick charts is that the number of bars will increase and decrease depending on volatility. When the markets are moving and there are more trades, you will have more bars. If the markets are quiet you will have fewer bars. However, in the first two hours of active trading between 9: Tick charts remove the time factor from charts and add volume and volatility to your bars.
If you can't trade with profit. Automatically copy the traders that are already profitable. All three of bollinger bands are trending below EMA Bearish candle closes below bottom BB band signal candle. We enter short, on new candle open, placing stop loss one pip above signal candle high. We exit with profit once price closes above middle BB band. All three of bollinger bands are trending above EMA Bullish candle closes above upper BB band signal candle.
We enter long on new candle open, placing stop loss one pip below signal candle low. We exit with profit, once price closes below middle BB band. To win you must trade with broker on your side. Expert advisor was tested for profitability on historical data.
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