Nifty 2 Day High/Low System

[trader.trends]

today i hav bought nifty at 5611 with s/l of 5545,so lets see

Generally speaking it is a good idea to hold positions if you are in profit with some cushion. Avoid holding loss making positions. Alternatively, hedge it with OTM option. But before deciding to trade a method, it is a good idea to ask yourself
Am I going to try this method for the next 20 trades?
Have I understood the method completely?
Do I know the risks involved?
Am I aware of the string of losses that this method has had in the past?
Am I willing to battle the whipsaws this method will have?
When will I call it quits?
Most importantly, does this method suit my trading personality?

 

[Nanda]

Hello Friends, I am new into technical analysis, however I have come across this strategy while surfing a website.

Intraday Trading Strategy

1) This strategy only on intraday trading...not for delivery or long time.

2) During use this strategy dont follow any news,tips or any other information

just follow the system ....


TREND FINDING METHOD


FIRST take the low price,open price,high price of NF at 9.30 as per ODIN

example 1.

low price = 5971
open price = 5976
high price = 5987

now, count the different between Open - Low = 5
and High - Open = 11.

(HIGH-OPEN) is greater than (OPEN - LOW) = so intra trend UP

example 2.

low price = 5961
open price = 5976
high price = 5982

now, count the different between Open - Low = 15
and High - Open = 6.

(OPEN - LOW) is greater than (HIGH-OPEN) = so intra trend DOWN


After finding the trend ... go for stoploss method


STOPLOSS FORMULA

1) SL FORMULA FOR BUY POSITION

BUY SL = {(OPEN - (HIGH - OPEN) - 1}
= (5976-(11)-1}
=(5965-1)

BUY SL IS = 5964.

NOTE:- if the SL hits reverse the position BUY to SELL...

2) SL FORMULA FOR SELL POSITION

SELL SL = {OPEN + (OPEN - LOW) +1}
= {5976+(15)+1}
=(5991+1)

SELL SL IS = (5992)


NOTE:- if the SL hits reverse the position SELL to BUY...


TARGET FORMULA FOR BUY POSITION

BUY TG = {OPEN + (OPEN PRICE * 0.75 %)}
= {5976 + (5976*0.75)}
=(5976+45)
=(6021)

TARGET FORMULA FOR SELL POSITION

SELL TG= {OPEN - (OPEN PRICE * 0.75)}
=(5976 - (5976*0.75)}
=(5976-45)
=(5931)

NOTE:- This method is used only for Intra-day and if the difference between the NF at 9.30 AM and SL is more than 30, then do not Trade.

Chances - 7-8 successful trades out of 10

Would like the experts to backtest it and endorse if this is a good strategy.

Regards
Shailender Bali

dear bali,

good try, but when and which is the entry point to trade?.

 

[kingfisher3210]

Rohit I had tested this sytem in the past...results are bad for 2006...0%..as 2006 was overall a trending year but this system caused us to keep oscillating between long and short....2003/4/5 were profitable but not as much as 2007/8/9/10....please test 2006 before trading this system

All systems are 'mindless' mathematical expression while trading is a collective psychology and the by product of trading is mathematical quotes.

Mindless Trading Systems are innovation of maths- Add, Subtract, Divide, Averages, Multiply etc. All technical indicators play with mathematical tools and none of them works consistently.

The greatest irony of trading is it is difficult precisely because it is very simple. Conceptually Trading is simple in the sense it is a collective psychology driven by momentum but it needs lots and lots of practice to master it.

Mindless Trading system obviously is not the step in the right direction. But that is the very source of profit for winning traders in this zero sum game.

Winners take it all in this zero sum game. So 2% approx winners take all the money 98% loosers have to offer. Loosing traders including mutual fund managers gives all of it to traders who have worked immensely hard in understanding collective psychology.

Trading is the world's greatest scam all done legally :lol:

 

[sumosanammain]

All systems are 'mindless' mathematical expression while trading is a collective psychology and the by product of trading is mathematical quotes.

Mindless Trading Systems are innovation of maths- Add, Subtract, Divide, Averages, Multiply etc. All technical indicators play with mathematical tools and none of them works consistently.

The greatest irony of trading is it is difficult precisely because it is very simple. Conceptually Trading is simple in the sense it is a collective psychology driven by momentum but it needs lots and lots of practice to master it.

Mindless Trading system obviously is not the step in the right direction. But that is the very source of profit for winning traders in this zero sum game.

Winners take it all in this zero sum game. So 2% approx winners take all the money 98% loosers have to offer. Loosing traders including mutual fund managers gives all of it to traders who have worked immensely hard in understanding collective psychology.

Trading is the world's greatest scam all done legally :lol:

If they have worked immensely hard in understanding collective psychology, as in your words, then how is it a scam??????????????

If a worker worker works hard and makes money, then that is also a scam??????????????
If a student works hard, gets 95 % and enters engineering, then that is also a scam??????????

 

[tools&tradingideas]

below Rohits idea in Amibroker AFL code. The systeem needs some additional rules. As is it is not profitable imo.


SetTradeDelays(0,0,0,0);
SetOption("CommissionMode",3);
SetOption("CommissionAmount",2.01);
SetOption("FuturesMode",True);
NumContracts=1;
PositionSize=NumContracts*MarginDeposit;
SetOption("MaxOpenPositions",4);

TimeFrameSet(inDaily);
HH=Max(Ref(H,-1),Ref(H,-2));
LL=Min(Ref(L,-1),Ref(L,-2));
TimeFrameRestore();
HH=TimeFrameExpand(HH,inDaily,expandFirst);
LL=TimeFrameExpand(LL,inDaily,expandFirst);

Buy=Cross(C,HH);BuyPrice=C;
Short=Cross(LL,C);ShortPrice=C;
Buy=ExRem(Buy,Short);
Short=ExRem(Short,Buy);
Sell=Short;SellPrice=ShortPrice;
Cover=Buy;CoverPrice=BuyPrice;

SetChartOptions(0, chartShowDates);
Plot(C,"",colorWhite,64);
Plot(LL,"\nLL",colorRed,styleDashed);
Plot(HH,"\nHH",colorGreen,styleDashed);
PlotShapes(IIf(Buy,shapeUpArrow,shapeNone),colorGreen,0,L,-15);
PlotShapes(IIf(Buy,shapeHollowSmallCircle,shapeNone),colorWhite,0,BuyPrice,0);
PlotShapes(IIf(Sell,shapeDownArrow,shapeNone),colorRed,0,H,-15);
PlotShapes(IIf(Sell,shapeHollowSmallCircle,shapeNone),colorWhite,0,SellPrice,0);
PlotShapes(IIf(Short,shapeDownTriangle,shapeNone),colorYellow,0,H,IIf(Short AND Sell,-30,-15));
PlotShapes(IIf(Short,shapeHollowCircle,shapeNone),colorWhite,0,ShortPrice,0);
PlotShapes(IIf(Cover,shapeUpTriangle,shapeNone),colorLightBlue,0,L,IIf(Cover AND Buy,-30,-15));
PlotShapes(IIf(Cover,shapeHollowCircle,shapeNone),colorWhite,0,CoverPrice,0);

 

[bhavesh_gelani]

Hello Friends, I am new into technical analysis, however I have come across this strategy while surfing a website.

Intraday Trading Strategy

1) This strategy only on intraday trading...not for delivery or long time.

2) During use this strategy dont follow any news,tips or any other information

just follow the system ....


TREND FINDING METHOD


FIRST take the low price,open price,high price of NF at 9.30 as per ODIN

example 1.

low price = 5971
open price = 5976
high price = 5987

now, count the different between Open - Low = 5
and High - Open = 11.

(HIGH-OPEN) is greater than (OPEN - LOW) = so intra trend UP

example 2.

low price = 5961
open price = 5976
high price = 5982

now, count the different between Open - Low = 15
and High - Open = 6.

(OPEN - LOW) is greater than (HIGH-OPEN) = so intra trend DOWN


After finding the trend ... go for stoploss method


STOPLOSS FORMULA

1) SL FORMULA FOR BUY POSITION

BUY SL = {(OPEN - (HIGH - OPEN) - 1}
= (5976-(11)-1}
=(5965-1)

BUY SL IS = 5964.

NOTE:- if the SL hits reverse the position BUY to SELL...

2) SL FORMULA FOR SELL POSITION

SELL SL = {OPEN + (OPEN - LOW) +1}
= {5976+(15)+1}
=(5991+1)

SELL SL IS = (5992)


NOTE:- if the SL hits reverse the position SELL to BUY...


TARGET FORMULA FOR BUY POSITION

BUY TG = {OPEN + (OPEN PRICE * 0.75 %)}
= {5976 + (5976*0.75)}
=(5976+45)
=(6021)

TARGET FORMULA FOR SELL POSITION

SELL TG= {OPEN - (OPEN PRICE * 0.75)}
=(5976 - (5976*0.75)}
=(5976-45)
=(5931)

NOTE:- This method is used only for Intra-day and if the difference between the NF at 9.30 AM and SL is more than 30, then do not Trade.

Chances - 7-8 successful trades out of 10

Would like the experts to backtest it and endorse if this is a good strategy.

Regards
Shailender Bali

@Shailender Bali
Nice copy Paste
this system belongs to Mr. Abhay Gandhi belong to ahmedabad and cheated the people worth of more than 5000 cr
just stay away with this

Bhavesh Gelani

 

[rajsumi121]

Hello Friends, I am new into technical analysis, however I have come across this strategy while surfing a website.

Intraday Trading Strategy

1) This strategy only on intraday trading...not for delivery or long time.

2) During use this strategy dont follow any news,tips or any other information

just follow the system ....


TREND FINDING METHOD


FIRST take the low price,open price,high price of NF at 9.30 as per ODIN

example 1.

low price = 5971
open price = 5976
high price = 5987

now, count the different between Open - Low = 5
and High - Open = 11.

(HIGH-OPEN) is greater than (OPEN - LOW) = so intra trend UP

example 2.

low price = 5961
open price = 5976
high price = 5982

now, count the different between Open - Low = 15
and High - Open = 6.

(OPEN - LOW) is greater than (HIGH-OPEN) = so intra trend DOWN


After finding the trend ... go for stoploss method


STOPLOSS FORMULA

1) SL FORMULA FOR BUY POSITION

BUY SL = {(OPEN - (HIGH - OPEN) - 1}
= (5976-(11)-1}
=(5965-1)

BUY SL IS = 5964.

NOTE:- if the SL hits reverse the position BUY to SELL...

2) SL FORMULA FOR SELL POSITION

SELL SL = {OPEN + (OPEN - LOW) +1}
= {5976+(15)+1}
=(5991+1)

SELL SL IS = (5992)


NOTE:- if the SL hits reverse the position SELL to BUY...


TARGET FORMULA FOR BUY POSITION

BUY TG = {OPEN + (OPEN PRICE * 0.75 %)}
= {5976 + (5976*0.75)}
=(5976+45)
=(6021)

TARGET FORMULA FOR SELL POSITION

SELL TG= {OPEN - (OPEN PRICE * 0.75)}
=(5976 - (5976*0.75)}
=(5976-45)
=(5931)

NOTE:- This method is used only for Intra-day and if the difference between the NF at 9.30 AM and SL is more than 30, then do not Trade.

Chances - 7-8 successful trades out of 10

Would like the experts to backtest it and endorse if this is a good strategy.

Regards
Shailender Bali

i m having excel sheet for this strategy to auto calculate all targets and stoploss ( given by my friend ) but i dont know how to attach here .

 

[rajsumi121]

Rohit's strategy good on weekly chart .. very less whipsaw's .