November 29, 2020
November 27, 2020
Dear KPL Sir,
I introduce myself as a fellow junior trader who has been doing swing trading for the last 2-3 years. I track days high and low along with OI and take positions only in index Future. Been a win some and lose some trader and have always kept my size and SL under check hence not blown aways my capital till date.... thankfully. Every expiry brings something new to learn and understand.
I follow your website and articles regularly but not a member of your forum as I do not have much to contribute in this initial journey except to observe as much as possible.
I am approaching you for small guidance actually. I started day trading around Jan this year and have realised that this involves huge emotional capital which is very difficult for normal human beings like me (not made big losses but no big profits either till now in intra day) and was looking for a system based trade for index and checked the KPL swing system that you have on your website.
Request you if you can help in understanding if I can start using this indicator in 5 min/15 min time frame for intra day trades. Since you do show this indicator on your website and have been using this since long, can you pl guide me in understanding if I too can follow this system blindly and be profitable. I am looking to follow a system which takes out my emotions and discretion from trades and more importantly be profitable.
Just to let you know, I do not use Amibroker as yet and trade out of the trading terminal only.
Thanks for your guidance and being a helpful trader in the community.
November 26, 2020
- trend is up on daily chart
- today nifty closed 1% in positive at 12987
- AD was 2:1
- VIX dropped 13% to 20
- yesterday's red bar had no follow thru selling
- this was along expected lines
- region of 12500-12700 to provide very good support
November 25, 2020
- trend is up on daily charts
- today nifty opened gapup but closed 1.5% in negative at 12858
- in the process, a huge engulfing bar was formed.
- this has happened few times in the past but it led to no further correction
- AD was 1:2 (not bad)
- VIX shot up 10% to 23
- negative divergence on RSI chart
- swing low 12700
- support 12500-12000