Home
Services Offered
Payment Details
My Services
Contact Us
Market Heatmap
Charts
Charts (Premium)
Chart Watch
JCharts (EOD)
JCharts(EOD-COMM)
HCharts (EOD)
HCharts (EOD-COMM)
Forum
Stock Lists
Screener (EOD)
Screener (EOD-Comm)
Breadth Charts
Calculators
Education
Links
FAQs
Search
Advertise Here
Charts (Old)
Login Form





Lost Password?
No account yet? Register
  iCharts Discussions

 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Trade Crude like a BOSS - intra-day or postional
Goto page 1, 2  Next
 
Post new topic   Reply to topic    iCharts Discussions Forum Index -> Commodities
View previous topic :: View next topic  
Author Trade Crude like a BOSS - intra-day or postional
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #1   PostPosted: Fri Aug 12, 2016 10:25 am    Post subject: Trade Crude like a BOSS - intra-day or postional Reply with quote

Hi Friends,

I am putting up this strategy as I have received many emails and personal messages to create a strategy for crude traders for intraday. The strategy I am going to put here would work for positional as well as intraday.

I should work on any timeframe from 1 minute to 60 minutes however for the purpose of this thread I am going to use 5 mins timeframe only and focus on intraday trades only.

For this strategy, you just need to plot 5 minutes crude charts and SUPERTREND indicator.

Entry rules

1. Wait for 5minute candle close which triggers a change in SUPERTREND signal
2. Once that candle closes, put a buy order 1 point above the highs of that candle (if the supertrend signal has changed to a buy signal) with a stoploss which is 1 point below that candle.
3. If the supertrend signal has changed to sell, put a sell order 1 point below the lows of the candle that has triggered the change in supertrend signal, stoploss 1 point above the highs of that candle.


Profit booking

I would suggest we always take multiple lots trades which allows partial profit booking. In case of less capital, people can trade mini lots, however for the purpose of this thread, I will assume we are trading 2 lots (regular lots not mini).

Plan is book 50% (1 lot) at 1:1 RR and holding rest until opposite trade triggers.

I will post some charts as examples now which should help in better understanding.

Enjoy this new gift from my side

Cheers
SH
Back to top
View user's profile Send private message
prabit
White Belt
White Belt


Joined: 02 Jul 2009
Posts: 133

Post: #2   PostPosted: Fri Aug 12, 2016 10:43 am    Post subject: Re: Trade Crude like a BOSS - intra-day or postional Reply with quote

Alchemist wrote:
Hi Friends,

I am putting up this strategy as I have received many emails and personal messages to create a strategy for crude traders for intraday. The strategy I am going to put here would work for positional as well as intraday.

I should work on any timeframe from 1 minute to 60 minutes however for the purpose of this thread I am going to use 5 mins timeframe only and focus on intraday trades only.

For this strategy, you just need to plot 5 minutes crude charts and SUPERTREND indicator.

Entry rules

1. Wait for 5minute candle close which triggers a change in SUPERTREND signal
2. Once that candle closes, put a buy order 1 point above the highs of that candle (if the supertrend signal has changed to a buy signal) with a stoploss which is 1 point below that candle.
3. If the supertrend signal has changed to sell, put a sell order 1 point below the lows of the candle that has triggered the change in supertrend signal, stoploss 1 point above the highs of that candle.


Profit booking

I would suggest we always take multiple lots trades which allows partial profit booking. In case of less capital, people can trade mini lots, however for the purpose of this thread, I will assume we are trading 2 lots (regular lots not mini).

Plan is book 50% (1 lot) at 1:1 RR and holding rest until opposite trade triggers.

I will post some charts as examples now which should help in better understanding.

Enjoy this new gift from my side

Cheers
SH
Amchemist, what is the parameter for supertrend?
Back to top
View user's profile Send private message
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #3   PostPosted: Fri Aug 12, 2016 10:45 am    Post subject: Reply with quote

These are the 3 trades that triggered yesterday

Trade 1

At 2.20 PM ...5 minutes candle closed at 2772 which turned supertrend signal from sell to buy

High of that candle was was 2773 and 2769 respectively

Buy order placed to trigger at 2774 immediately at 2.20 PM

Buy order triggered by next candle and SL order placed at 2768 immediately.

As the risk is 6 points (2774-2768) ... first target becomes 2780 for 1 lot (entry point + 6 points for 1:1RR)

This target is achieved by 3.15 PM when crude made high of 2782. Second lot now becomes risk free.

Crude continues to make a high of 2799 until supertrend signal reverses to sell at 5.15 PM. The candle low at 5.15 PM is 2778 so last lot exited one point below that low i.e 2777 (this also triggers the reverse sell order).

Profit made 6 points + 3 points = 9 points or Rs 900 (excluding brokerage which is usually Rs 200 for 2 lots)

Chart below



Crude 11 AUG.jpg
 Description:
 Filesize:  13.36 KB
 Viewed:  303 Time(s)

Crude 11 AUG.jpg


Back to top
View user's profile Send private message
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #4   PostPosted: Fri Aug 12, 2016 10:46 am    Post subject: Re: Trade Crude like a BOSS - intra-day or postional Reply with quote

prabit wrote:
Amchemist, what is the parameter for supertrend?



7,3
Back to top
View user's profile Send private message
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #5   PostPosted: Fri Aug 12, 2016 11:02 am    Post subject: Reply with quote

The other 2 trades that followed yesterday are below, you can check them on your charts on your own and post a question with chart if it doesnt make sense.

Trade 2

At 5.15 PM, supertrend signal turned to sell and candle low at 2778 and high was 2783

Sell order placed at 2777 immediately as 5.15 PM candle closed.

Sell triggered at 5.35 PM at 2777, at this point SL order placed immediately at 2784 (7 point risk).

First target becomes 2770 so buy order for 1 lot placed at 2770 immediately, waiting to trigger.

Crude went down to 2771 however unfortunately didnt touch 2770 hence no booking profits.

At 6 PM, 2783 was hit and both lost exited at 7 point loss = Rs 1400 loss

At this stage, I placed another sell order at 2770 (1 point below recent lows) and had that trade triggered, my SL would have become 1 point above the recent highs made, however 2770 was not hit after this hence no trade. I will post a live example chart later explaining how a re-entry can be taken after initial SL is hit.


Trade 3

At 6.30 PM, candle closed at 2799 changing the supertrend signal to buy. The high of this candle was 2802 and low was 2782

As soon as this candle closed, a buy order was placed to trigger at 2803

Buy order triggered by 6.40 PM candle. SL order immediately placed at 2781 (22 point risk)

First target becomes 2825 (2803+22) for 1:1 RR so sell order placed for 1 lot in advance at 2825

2825 hit by 7.15 PM candle so 22 points booked for 1 lot. Second lot holding risk free now.

Crude continued to rally without giving a sell signal, made a high of 2931 and finally closed at 2913. Positional traders can carry this trade to next day or intraday traders can book before close at 2913

For this thread i will assume intraday trades hence booked at 2913 (113 points profit).

Total profit Rs 2200+11300 = Rs 13500

This was a jackpot trade and a jackpot day. Will all days be like these jackpot days? .. NO ..... will all days be profitable? .. NO

Is it a profitable strategy ... do your own backtest and record results Very Happy

Happy scalping !!

Cheers
SH
Back to top
View user's profile Send private message
shashank2
White Belt
White Belt


Joined: 06 Mar 2013
Posts: 6

Post: #6   PostPosted: Fri Aug 12, 2016 11:24 am    Post subject: Reply with quote

Alchemist,

Is ST indicator available in ichart?

thanks in advance.

Shashank
Back to top
View user's profile Send private message
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #7   PostPosted: Fri Aug 12, 2016 11:31 am    Post subject: Reply with quote

Yes I think in platinum charts ... Kamal also promised to introduce it for H-charts in near future.


Cheers
SH
Back to top
View user's profile Send private message
indexhunterr
White Belt
White Belt


Joined: 29 Dec 2014
Posts: 11

Post: #8   PostPosted: Fri Aug 12, 2016 2:19 pm    Post subject: Reply with quote

Alchemist if we take todays example. Short triggered at 12:20 2920 with sl 2931. sl triggerred at 12:30. And now price is coming down so how to trade that.
Back to top
View user's profile Send private message
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #9   PostPosted: Fri Aug 12, 2016 3:03 pm    Post subject: Reply with quote

Today's first trade

11.45 AM candle closed at 2928 changing the ST signal to sell. The candle low was 2928 and high was 2937

Sell order placed at 2927 which was triggered by 11.50 AM candle. SL order placed at 2938 (11 point risk).

1st target 2927-11 = 2916 which was hit at 12.50 PM so profit Rs 1100

just now at 2.55 PM candle closed at 2926 so the 2nd lot exited at 2927 (no profit now loss on this lot. Overall Rs 1100 profit in this trade.

Second trade

2.55 PM candle closed at 2926 changing ST signal to buy. High of the candle is 2926 and low is 2921.

Buy order placed at 2927 with SL at 2920 which is triggered ( 7 point SL)

1st target is 2927+7 = 2934 which is achieved by next candle 3 PM so 7 points profit booked.

2nd lot is now running with SL 2920 (risk free lot).

charts below.

Cheers
SH



Crude 12AUG.JPG
 Description:
 Filesize:  23.32 KB
 Viewed:  313 Time(s)

Crude 12AUG.JPG


Back to top
View user's profile Send private message
amitagg
Black Belt
Black Belt


Joined: 01 Oct 2013
Posts: 4556

Post: #10   PostPosted: Fri Aug 12, 2016 4:53 pm    Post subject: Reply with quote

Thanks Mr Boss for another system! And so much time taken to post trade wise comments
Back to top
View user's profile Send private message
mkric5
White Belt
White Belt


Joined: 16 Sep 2008
Posts: 11

Post: #11   PostPosted: Fri Aug 12, 2016 8:34 pm    Post subject: TRADE CRUDE OIL LIKE A BOSS Reply with quote

iT IS VERY SIMPLE AND EFFECTIVE. NICE JOB, CONGRATS.

PLEASE LET US KNOW THE IN PUTS OF SUPER TREND. THANK YOU
Back to top
View user's profile Send private message
varun_alld
White Belt
White Belt


Joined: 14 Dec 2009
Posts: 25

Post: #12   PostPosted: Sat Aug 13, 2016 10:23 am    Post subject: Nice setup Reply with quote

This seems to be a very easy setup.

Wish if this could be back tested so that we could trade with confidence.

Smile angel Smile
Back to top
View user's profile Send private message
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #13   PostPosted: Sat Aug 13, 2016 11:35 am    Post subject: Reply with quote

Alchemist wrote:
Today's first trade

11.45 AM candle closed at 2928 changing the ST signal to sell. The candle low was 2928 and high was 2937

Sell order placed at 2927 which was triggered by 11.50 AM candle. SL order placed at 2938 (11 point risk).

1st target 2927-11 = 2916 which was hit at 12.50 PM so profit Rs 1100

just now at 2.55 PM candle closed at 2926 so the 2nd lot exited at 2927 (no profit now loss on this lot. Overall Rs 1100 profit in this trade.

Second trade

2.55 PM candle closed at 2926 changing ST signal to buy. High of the candle is 2926 and low is 2921.

Buy order placed at 2927 with SL at 2920 which is triggered ( 7 point SL)

1st target is 2927+7 = 2934 which is achieved by next candle 3 PM so 7 points profit booked.

2nd lot is now running with SL 2920 (risk free lot).

charts below.

Cheers
SH


So let me continue with what happened yesterday after the second trade was taken.

2nd lot SL 2920 was hit by 3.20 PM candle so 2nd lot exited. Overall trade was no profit no loss.

3rd Trade

At 3.30 PM, ST signal reversed to sell, the candle low was 2911 and high was 2917.

So sell order placed at 2910 (triggered by next candle at 3.35 PM) and stop loss placed at 2918 . 1st target placed at 2902.

The 3.35 PM candle went and made a low of 2907 however before our first target could be achieved, SL was hit by 3.40 PM candle and we lost 8 points .. Rs 1600 loss.

However at this stage buy has not triggered so there is another opportunity to sell if the recent lows were broken again before SL was hit (low of 2907 made by 3.35 PM candle). So another sell order placed at 2906

At 4.10 PM, 2906 was hit and we sold another 2 lots. Now the SL becomes one point above the recent highs made after hitting our first SL .. which is 2921 high made by 3.55 PM candle. So SL placed at 2922.

As this risk is 16 points, out first target becomes 2906-16 = 2890

crude went down and made a low of 2899 but did not fall enough to hit our target. The 6 PM candle took out our SL again and we exited with 16 point loss (Rs 3200 loss).

Total loss Rs 4800 on this sell signal trade.

4th Trade

6 PM candle changed the ST signal to buy. Bought 2 lots at 2926 (1 point above 2925 high made by 6 PM candle) and SL placed at 2907 (1 point below 6PM candle low of 2908).

18 point SL so first target becomes 2944. Alas, 6.15 PM candle took out our SL again and we lost another 18 points. Rs 3600 loss.

Now an interesting thing to see. 6.20 PM candle change the ST signal to sell however the sell did not trigger as 6.20 PM candle lows were not breached.

5th trade

At 6.30 PM, ST signal again changed to buy and we placed a buy order at 2934 SL 2901 which got triggered by 6.40 PM candle.

1st target becomes 2934+33 = 2977 which was hit by 8.45 PM candle. Profit booked on one lot Rs 3300. Second lot running.

Crude went to make a high of 2984 and later at 10.30 PM, the ST signal changed to sell again however lows of the candle not broken and hence second lot not exited yet. Day closed at 2975 so second lot booked at 2975. (positional traders can carry to next day as well).

Profit on this trade 3300 + 3100 = 6400

Total 5 trades yesterday and P&L was 1100+0-3200-3600+6400 = Rs 700

If you deduct brokerage etc on 10 lots trades the day becomes breakeven.

A good example to show that just because yesterday was a jackpot day doesnt mean everyday will be a jackpot day.


Cheers
SH


Last edited by Alchemist on Sat Aug 13, 2016 12:32 pm; edited 1 time in total
Back to top
View user's profile Send private message
Alchemist
Yellow Belt
Yellow Belt


Joined: 09 Aug 2010
Posts: 853

Post: #14   PostPosted: Sat Aug 13, 2016 12:24 pm    Post subject: Reply with quote

... saved for future post.
Back to top
View user's profile Send private message
amitagg
Black Belt
Black Belt


Joined: 01 Oct 2013
Posts: 4556

Post: #15   PostPosted: Sat Aug 13, 2016 2:27 pm    Post subject: Reply with quote

Thanks Very lucid explanation including 2nd entry for 3rd trade.
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    iCharts Discussions Forum Index -> Commodities All times are GMT + 5.5 Hours
Goto page 1, 2  Next
Page 1 of 2

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You can attach files in this forum
You can download files in this forum


Powered by phpBB © 2001, 2005 phpBB Group

@MEMBER OF PROJECT HONEY POT
Spam Harvester Protection Network
provided by Unspam