Trading NR7 setup

[thesaint]

thanks rohangwale can u explain (we have to go long if break is above high of NR7 day with sl of low of NR7 day, and short below NR7 low with sl of high of NR7 Day) i cannot understand it i would like an example pls do explain it for e.g. go long if break is above high of NR7 pls explain it hope to hear from u

hope to hear soon regards

 

[Satyen]

wow...AW SIR ... how i miss it yest.

thanx a lot sir , finally we got a thread from your side...

basically i trade this system since nearly 6 months but things are not so clear in mind..basically what i do is open 60 min chart of last 10 days & try to find contraction in charts ...when i find a contraction , i wrote the levels on pad & keep watch on those charts specially during those days but am doing this as just as ambush trade intraday ...certainly not in options..

sir looking forward to a great learning experience ahead....

am ready to help in all the way I can do ..

thanx & regards

Vineet Bhai plz post a chart if possible of nifty explaining this strategies .......

Regards
Satya

 

[AW10]

thanks rohangwale can u explain (we have to go long if break is above high of NR7 day with sl of low of NR7 day, and short below NR7 low with sl of high of NR7 Day) i cannot understand it i would like an example pls do explain it for e.g. go long if break is above high of NR7 pls explain it hope to hear from u

hope to hear soon regards

Trader thesaint,
Please be patient and wait for the system to be developed around it.
What u are demonstrating is the typical novice traders attitude who jumps into trading without waiting to understand the reason behind why the system should work.
Typical thought process is - tell me where to buy and where to sell. I don't care for anything else cause I want to make 300% return quickly..

If thats what you want then, probably u are in wrong thread. This thread is not for such quick fix solution but the aim is to explain a simple setup.. and take it forward and develop a complete trading system around it.

Plz show patience (dear, that is most precious attribute for a successul trader) and wait till that time we define basic rules and test this system..

Still if you are in hurry then please refer to this post by .Pride where he has drafted some basic rules. (note - I will get into more specifics then these rules very soon)

http://www.traderji.com/advanced-trading-strategies/29825-trading-nr7-setup.html#post323109
Happy Trading.

 

[AW10]

realy nice thread . keep it up ji . can i use it for medium amound scripts like tatasteel , rcom ? pls tell me sir .

I have never attempted to apply this on stocks. So can't comment on it.
Rohan has given the list of few stocks so please observe them for next few days and see what happens.

Whatever is the case, one need to test the system first and see the +ive result over a period time.. If it has not produced postive result in the past the what makes us think that it will be profitable in
future. So the answer of your question lies in backtesting. I don't know the answer but I will tell u the process by which u can find the answer yourself..

Hope that is fair enough.

Happy Trading

 

[thesaint]

Mr AW10 its not like that as i did not understant the NR7 trading setup for that i asked in how can we buy and sell by this trading systems its so nice of u to have said that u and other members at traderji are inmaking this systems work

hope to hear from u

regards

 

[AW10]

I have posted the draft rules of the stratgy in Post 4 of this thread.
Way forward,
1) Get the test data in NR7 strategy sheet for whatever security that want to test.
2) Get the dates when NR7 was flagged.
3) Open the chart and goto the dates when NR7 was flag.
4) Follow the rules and start travelling towards right on the chart.
5) Log your trade details in this attached sheet. This might be familiar to many of u who were around when we tested 90-10 system.
Just fill in the trade details. You can log trailing SL levels in remark column. Use remark column to its max for recording whatever u observe.
I will give updated version of this backtesting sheet later which will be more useful.

6) Share your doubts/findings/observations here and we take it forward from there.

Bandlab / Ankit /Vineet /anybody else who is willing to work on developing a system. - feel free to post your doubts / assumptions.

Happy System development..

Happy Trading

 

[ag_fx]

To test the system, here is the data for a few scrips :

http://r a p i d s h a r e . c o m/files/246362495/01.xls.html

http://r a p i d s h a r e . c o m/files/246362498/02.xls.html

There are 2 files : 01 and 02.

01: BHEL,Gail,HDFC Bank, ITC, M&M , Seimens, Tata Comm, Tata Motors

02:Idea, India Bulls, Infy, Kotak, LnT, ONGC, RIL, RCOM, RPET, SBI, Suzlon, TISCO.


The data is of daily time frame and is as much as 15 years old. If someone can use this data to automate some system, it will save a lot of time and effort.


Remove the spaces from the link. also, this file can be downloaded only 10 times. I will try and post a permanent link too.


Happy Trading
\
PS: The link is now permanent. Also in the next post pride has given alternate link, so everyone can download the files.

 

[.Pride.]

ankit, it is better to use 4shared to keep links permanent and for unlimited downloads.

i've created a mirror of your excel files at 4shared so that once the rapidshare download limit exceeds, people can download from 4shared.

here are the links:

AnkitExcel01.xls [BHEL,Gail,HDFC Bank, ITC, M&M , Seimens, Tata Comm, Tata Motors]

AnkitExcel02.xls [Idea, India Bulls, Infy, Kotak, LnT, ONGC, RIL, RCOM, RPET, SBI, Suzlon, TISCO]

all credit and thanks go to ankitgarg20 for these files.


by the way, post#4 is fantastic, AW10 :clapping:
But please take a look at rule number 6 that I had posted.

If the position is not profitable within two days and you have not been stopped out, exit the trade. Usually, when the setup works, it is profitable immediately.

It is what Linda Raschke has suggested.

Regards,
Pride

 

[Shailu]

kindly explain from which date we count nr 7 or nr4 so it is request you to kindly explain in simple way.:thumb:

 

[AW10]

ankit, it is better to use 4shared to keep links permanent and for unlimited downloads.

i've created a mirror of your excel files at 4shared so that once the rapidshare download limit exceeds, people can download from 4shared.

here are the links:

AnkitExcel01.xls [BHEL,Gail,HDFC Bank, ITC, M&M , Seimens, Tata Comm, Tata Motors]

AnkitExcel02.xls [Idea, India Bulls, Infy, Kotak, LnT, ONGC, RIL, RCOM, RPET, SBI, Suzlon, TISCO]

all credit and thanks go to ankitgarg20 for these files.


by the way, post#4 is fantastic, AW10 :clapping:
But please take a look at rule number 6 that I had posted.

It is what Linda Raschke has suggested.

Regards,
Pride

thanks .Pride.
Regarding yr rule 6 as you/Linda has mentioned... I would rather depend on our backtest to tell us.
Logically it doesn't make sense to me because mkt can't be in compressed forever. It has got to break on oneside or other. From NR7 / we might see NR8 / NR9. but eventually it has to come out of this compressed zone.

Let our backtest tell us that.

Happy Trading