Gann Square Trading Guidelines
I have been giving Intraday and Positional calls on my site,with the help of w.d.gann. square chart.
w.d.gann has done a tremendous hardwork to make these theories.
Intraday and Positional calls all based on gann square chart, Relative Strength Index (RSI) and Trends Analysis.
Please use the below points to trade the calls.
I would request traders to do paper trade on both intraday and positional calls first.
because there is no HOLLY GRAIL in the market.
Once you are comfortable and confident then start trading in cash market before jumping in Futures.
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How to take Intraday Trades
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for example :- lets say if i posted in my post about XXX stock.
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Buy above 249 Tgt 251,253 and 257 SL 247
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Sell below 245 Tgt 243,241 and 237 SL 247
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1. Buy Trigger Point is 249, Now there are 3 cases possible after opening the market for stock are :-
( a) XXX stock Open above 249
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(b) XXX stock Opens below 249
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(c)XXX stock Opens at 249
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Lets take each case 1 by 1 :-
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(a) XXX stock Open above 249 — In this case wait for Stock to come at 249sustain near that level for 1-2 mins and take the trade.
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(b) XXX stock Opens below 249 — Wait for Stock to come at 249 sustain near that level 1-2 mins and take the trade.
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(c) XXX stock Opens at 249 — Take trade at opening only.
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Few Point to consider before you take trade
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Sometimes stocks move very fast in opening session, suppose you are not able to catch the trade just avoid it.
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It might happen some time as soon as you take a trade Stock reverses back and hit the Stoploss, Do not feel bad about it just accept the loss and move out.
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If Stop Loss gets triggers 2 times on Buy side/Sell Side just avoid the trade for rest of the day as stock might move in Choppy range. Preservation of Capital is most important for traders.
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If Buy SL gets triggered or Tgts are achieved and Stock reverses back than same Rule apply for Sell. Eg. XXX stock after Hitting 1 Target on moves down and makes a low of ie.244.65 . Now as our Sell call was below 245, as discussed let it sustain below 245 for atleast 1-2 mins if stock does not sustain atleast 1-2 mins and jump back ignore the trade.
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It might happen sometime stock just run away if we wait for 1-2 mins, do not feel bad about it. For us more important is capital preservation.
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If Open = High avoid taking Buy Trade and if Open = Sell avoid taking the SELL trade on the given day.
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Do Remember Intraday trading requires utmost discipline and lots of practice
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How to take Positional Trades
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Positional traders should look for close below 245 for short term target of 233.
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only a close below 245 is trigger point for Positional trader to take trade.
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If you are aggressive trader you can Trade XXX stock if it closes below 245 on 15 minutes Keep SL of 1% from entry.
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If 1 % SL is not triggered but stock is closing above 245 than also you have to exit the trade.
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If you are conservative trader wait for EOD close below 245 to take trade, It might happen EOD it might close around 242 so now if you take trade @242 risk will be increased so if you cannot handle just big risk avoid taking the trade.
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For aggressive trader carrying position for next day any EOD close above the trigger level becomes the SL ie. If stock Closes above 245 on any given day trades has to be closed.
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For Conservative trader carrying position for next day any 1 Hour close above the trigger level becomes the SL ie. If
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Stock Closes above 245 on hourly basis trades has to be closed Or trail your SL @ COST TO COST your entry levels.
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do not always wait for exact target to come in. You can exit trades @ 234-235 or even 240 also if you are satisfied with profit.
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Levels are applicable through out the series, Trade as and when levels come any point of time during the series.
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Do understand the risk involved in trading and there is no guarantee to make profit always the result can be differ (you might do even better than me) from your trades. Every trader has its way of doing trade, Basic Motto of publishing the Performance sheet was to make a descipline trading with money management rather than emotional trading.
SO BE A DISCIPLINE TRADER
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