Trading NR7 setup

[amitrandive]

day open= day low

how do we know the open value is low or high for that day.. until market closes?
i dont get the seconnd filter...Pl somebody explain??

http://www.traderji.com/amibroker/60068-open-high-open-low-exploration-afl.html

Please brush up your Technical Analysis before you start trading.
:thumb:

 

[Cubt]

Total Points earned today is 49.35 in 12 stocks.

12 stocks gave buy signal, 8 stocks gave profit and other 4 socks gave minimal loss.

 

[Cubt]

Total Points earned today is 49.35 in 12 stocks.

12 stocks gave buy signal, 8 stocks gave profit and other 4 socks gave minimal loss.

Forgot to update one more important factor. When backtested, instead of trading NR7 setup with open/high/low breakout, its better to trade just based on previous day's high low and today's open/high/low breakout. Profits are much higher with this setup.

The above result i posted i based on previous day's breakout not based on NR7 setup.

 

[Cubt]

explained this setup in detail here

http://www.traderji.com/advanced-tr...-pattern-no-charts-just-excel.html#post945532

 

[raynor]

How many day trade signals will be given by a single stock... In my observation it gives around 7 signals... in a month that is 7 signals in 22 trading days... so all we have to do is just survive in the market to catch these signals.... if u r following 10 scrips... then u should be getting 70 signals in month.... if you are making Rs 1000 from each signal.... how much is your profit...

 

[raynor]

follow scrips in all the sectors... because even if nifty is not moving some sectorwise there is movements.... better have 3 scrips per sector... To my surprise even if nifty remains standstill stocks in some sectors are moving consistetly..... even if banknifty is becoming positive... some individual bank sectors... move in opposite direction and vice versa

 

[raynor]

How many points of Nifty is required for a man to living.... if you are having a system which perfectly gives 15 points and you are trading 5 lots.... and if the system system generates 5 signals in a month.... 5*15*5=375 points...which means Rs 18,750. Thats a lots of money to live... just by trading nifty...

 

[raynor]

Cross over trades..... it is better to wait when crossover for a stock happens during middle of the day... if there is pull back afetr the crossover then trade that rejection....but the cross overs are powerful if it happens before 10 o clock.... if cross over happens in the opening price that is also powerful provide it sustains for fist45 minutes of the day.... Important thing is do not trade , immediately a crossover happens.... because prices tend to fluctuate because of that algo automated trading systems (possibly auto trading systems may be executing trades at market prices...)....further rejection trades occur often during the rise and fall of stocks in Eod....This thing may be happening sometimes....in a up trend.... initially the price maybe at a long distance from 50 sma... slowly it will come towards the 50 sma... once price touched sudden rejection may happen.... with an increase price with 5 times the p.volume.... In such a case wait.... measure the open close difference.... divide by 2 and add to the close of the previous big candle... if that is taken out by with a stoploss of current candle.... Next pint is Gap rejections... stock may be in uptrend.... then morning gap occurs.... then first candle may try to close the gap....next candle is small...if high is taken out under such condition inthe morning before 1 hour.... then buy at cmp with stoploss of current candles bottom... In NR7 if stock opens above the Nr High and recjection of the high price occurs... buy at cmp.... with stoploss below previous candle....

 

[raynor]

This thing may be happening sometimes....in a up trend.... initially the price maybe at a long distance from 50 sma... slowly it will come towards the 50 sma... once price touched sudden rejection may happen.... with an increase price with 5 times the p.volume.... In such a case wait.... measure the open close difference.... divide by 2 and add to the close of the previous big candle... if that is taken out by with a stoploss of current candle....

 

[drsambu123]

Hello friends why this silence? Any body continuing the trade with additional open high low tool? What are the results?