Trading NR7 setup

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raynor

raynor

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#2,831
#2,831
Victory Loves preparation

Have dairy and observe the mistakes. Learn through the other way. observe ur mistakes and try not to follow it again..keeping a dairy will reduce ur mistakes. If there is no dairy what will happen... u do a mistake because of emotion... then u will say to u i will not do it again. after some days u will forget and doing the same mistake..

see.. during trading generally we will be under stress and hence our memory will not work efficiently. Hence Record all ur mistakes in dairy and keep it as treasure book..

IN trading part of success lies in reducing the mistakes...
 
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raynor

raynor

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#2,832
#2,832
Becauase of wipwaws, day traders can be eliminated quickly.... Placing a right stoploss is important component of trading. There is no holygrail method for computing the stoploss. Hence we have to go for a high probability Right stoploss..
 
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raynor

raynor

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#2,833
#2,833
Every Indicator out there works on expansion days.... But all the indicators fails on contraction i.e. narrow range days.... Hence predicting expansion days early can help for trading a lot.... For that observe the contraction days first.... that is the objective of our NR4 NR7 and hooks days....
 
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raynor

raynor

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#2,834
#2,834
One more Important observation.... Following the hook days and contraction days, the price can easily break the previous day (contraction day) supports and Resistance.. Hence after the contraction day or narrow day, disregard the support and resistance of previous day and enter the open range break out method confidently...

Reverse may also true.... after the expansion day support and resistance are powerful.. Hence wait for confirmation using multiple indicators for pro trend (orb) strategy.

After the expansion day, the resistance and support are powerful . so if u think that is going to be a narrow day , then trade in counter trend strategy.. So far I have not tested this... If u have tools to test this techniques , kindly post ur results in this thread...
 
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raynor

raynor

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#2,835
#2,835
SO far I have not followed this strategy but observations show that it will work.... In the ORB strategy PLace order in four stocks parallely... Two may be giving profits, one may be in no motion and other may hit stoplos... Youcan quit the Stock which is in no motion and the stock which hit stoploss... and still u r riding the profits in two stocks.....
 
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raynor

raynor

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#2,836
#2,836
Since, my trading days are counted so i will try to post my trades from next week with charts and explanations.... HAPPY Trading...:)
 
raynor

raynor

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#2,837
#2,837
Ok Guys, IF any body interested I will Continue my posting or else i think i should Stop my Posting.... ( I m not interested in Spaming Kind of things)
 
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U

umeshmandal

Well-Known Member
#2,838
#2,838
raynor said:
One more Important observation.... Following the hook days and contraction days, the price can easily break the previous day (contraction day) supports and Resistance.. Hence after the contraction day or narrow day, disregard the support and resistance of previous day and enter the open range break out method confidently...

Reverse may also true.... after the expansion day support and resistance are powerful.. Hence wait for confirmation using multiple indicators for pro trend (orb) strategy.

After the expansion day, the resistance and support are powerful . so if u think that is going to be a narrow day , then trade in counter trend strategy.. So far I have not tested this... If u have tools to test this techniques , kindly post ur results in this thread...
Click to expand...
What is "hook days" !
 
raynor

raynor

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#2,839
#2,839
Hook Day---Next day after an big expansion day..it will also have Narrow Range... Some times Two hook Days occur after the expansion... However After Hook Day, a big expansion may possible on eitherSide....
 
raynor

raynor

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#2,840
#2,840
ok I will post todays NR7 iMG tomo
 
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