>>> Live Nifty Trading System with Fibonacci
This is how I trade the nifty and have reaped huge profits. For understanding my trading system please refer to the text below the chart. Please understand it thoroughly. Some analysis carried out earlier to explain the system are now available in the Historical Trade and Analysis section.
If you would like to contribute to improving this system. Please go to the Tweak The System section.
NIFTY (CASH)
5 Day Chart, 5 min Bars, MACD (26,12,9)
>>My system :
Entry: (1) Nifty spot crosses fibonacci level 1500 mins EMA with confirmation from MACD.
(2) Nifty spot should have crossed 400 EMA also.
(3) Nifty spot should cross both these lines.
(4) You can even confirm if the Bank Nifty & CNXIT have met the above criteria. You can check it from here. LIVE Bank Nifty & CNXIT
Stop Loss: An initial acceptable range for the stop depending on your comfort level can be put. As the Nifty moves in your direction , immideately the stop is at the nearer line which was our entry signal line. The stop moves along with the line till the 400 min EMA takes over and becomes the trailing stop.
Position sizing : This is now modified and left to your discretion. However please remember, though some people try pyramiding, doing it in the nifty may be hazardous to your bank account. All entries and exits should preferably be done in one go.
You can use this chart if you wish. Make sure you have Reload Every so that your pages keep refreshing automatically. All the best and if anyone does trade this please do write in the comments and let us know if you benefitted.
Read the sytem carefully and try to understand it. Make sure you paper trade for some time before you take the plunge.
Happy Niftying.If you would like to contribute to improving this system. Please go to the Tweak The System section.
NIFTY (CASH)
5 Day Chart, 5 min Bars, MACD (26,12,9)
>>My system :
Entry: (1) Nifty spot crosses fibonacci level 1500 mins EMA with confirmation from MACD.
(2) Nifty spot should have crossed 400 EMA also.
(3) Nifty spot should cross both these lines.
(4) You can even confirm if the Bank Nifty & CNXIT have met the above criteria. You can check it from here. LIVE Bank Nifty & CNXIT
Stop Loss: An initial acceptable range for the stop depending on your comfort level can be put. As the Nifty moves in your direction , immideately the stop is at the nearer line which was our entry signal line. The stop moves along with the line till the 400 min EMA takes over and becomes the trailing stop.
Position sizing : This is now modified and left to your discretion. However please remember, though some people try pyramiding, doing it in the nifty may be hazardous to your bank account. All entries and exits should preferably be done in one go.
You can use this chart if you wish. Make sure you have Reload Every so that your pages keep refreshing automatically. All the best and if anyone does trade this please do write in the comments and let us know if you benefitted.
Read the sytem carefully and try to understand it. Make sure you paper trade for some time before you take the plunge.
posted by True Data India | 8:51 AM
8 Comments:
It will be nice for new traders if you can give long and short call in nifty and explain with the charts above.
Hi Anonymous,
I do give calls many times. However once you understand the system clearly after reading it, you will noy require me at all. You will be able to give calls yourself instead.
what is the exit strategy..?
or what is the target strategy?
IF ONLY 1500 AND 400 ema IS REQUIRED WHAT I STHE USE OF OTHER INDICATORS? THEY ARE NOT PARTICIPATING IN THE TRADING SYSTEM.
Sir entry of a trade is ok. Stop loss order submission is also ok. But, I feel, if we leave the trade to hit stop loss the profit will always be very minimal. Is there any other indicator to book profit at higher levels than to leave it for stop loss trigger. thanks for your system.
Dear Kapilbhai,I m totally new 2 T.A.I got encouraged by your answer to an anonymous's call that after study one can make judgements on their own.Pl.let me 4rm where to study this detailed type of Technical Analysis so that we can do our own successful trading.Also how to study and interpret your chart readings and your guiding comments.If possible you can write to me hhppremm at rediffmail dot com.PLEASE I meagerly awaiting your response.Thanks a million.Mr.Prem
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hi, nice strategy. i have one doubt what do you meant 400 min fibnacci EMA? is it just EMA or any thing to do with fibonacci. If so where i can get this indicator?
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