Nifty Futures Trading

milkyblack · #**4661** 10th May 2008, 03:22 PM

Quote:

Originally Posted by uasish

You must have gone through the whole thread to search this post out.
Yes i was waiting for this & it indeed came in May's 2nd week.
In bengali there is an idiom,a Bird on the Tree dies due to storm but the Fakhir gets the credit.

Yes I am trying to go through all the posts, whenever I get time to... actually every post there is something to learn, which I am trying to. Lets see what happenes there after

Well how could you tell abt the fall in the month of Jan'08 abt May08? Curious to know abt it...

Till where would it fall(approx)?

I apologise for my lack of understanding of the Idiom

What does it mean?

Regards

uasish · #**4662** 10th May 2008, 04:15 PM

Kindly use this thread only for Nifty & Nifty Fut.

SGM · #**4663** 10th May 2008, 05:09 PM

Hello

Nifty Futures hourly chart with Kolkata Indicator version with bands, using cross on lower red band for short, and upper blue band for long.

One needs to negociate the wipsaws (marked by white circles), keep taking the next signal and have some patiance to hold on to the winning trades, I guess something that many here can handle.

Regards
Sanjay

gkpc · #**4664** 10th May 2008, 06:40 PM

Quote:

Originally Posted by vvvv

u have caught the top & bottom exactly which is difficult to sustain over a period of time.u have been stopped out many times according to the indicator but u choose to be in the trade.why???if u were using the hghs as a stop then u wud have stopped out at around 1:15 but u chose not to do so...actually i fail to understand these logics behind using the indicator.when indicators says sell u actually dont or maybe u r using sumthing else with this

Sir, i might have made mistakes at places, do point out any more where you think it was a buy or sell but not taken.
I am not stopping out, just reversing the trade here.
At 1.15 the Sell level was below the low of the 1.10 bar which closed inside the band. The low was 5188.20 and a filter was used, 5188.20 minus 2.00 =
5186.20 was rounded to 5185.80
This has been followed as a rule in all my trades (courtsey R K Karnani)
The 1.15 bar low was 5186.35 , so you see the Sell was not activated.

A lay man's explanation, excuse for blunders.... still learning!!!
Thanks for posting views on my chart.
Regards

gkpc · #**4665** 10th May 2008, 07:08 PM

Quote:

Originally Posted by SGM

Its been a good example of a budding trader (Gautam) being groomed and mentored by a senior member (R K Karnani) of the forum. I believe teaching and learning is a mutually benifitial exercise, I am sure both of you have experianced that.

I agree with vikram about your selectively picking and choosing the entry / exit signals, I have marked just a few (there are many more) similar indicator signals on the chart you have uploaded with red-question marks (?) so you can understand what we are saying.

If you can discuss your method of selecting the signals you have executed while ignoring other signals of the indicator it would be a nice learning experiance for every one here. If you cannot clearly explain and its just because of gut feelings / intution, please don't loose it, keep doing what you have been doing ... making money.

Regards
Sanjay

No sir I did not do it randomly, i have set rules, written on paper to read and ffollow....
Let me try to explain as best possible :
The first bar you see as marked as my entry was the bar which decide the level at which i was to go long. Yes i made a mistake not clearly stating the exact place of entry. The high of the marked bar at 10.15 was the first bar that closed inside the band coming from below the band, the high was 5145.50, i add a filter of rs.2/- and round it to higher round figure plus 0.20 paise...(this is not done selectivel but followed as a rule so my entry price was : 5145.45 + 2 = 5147.45 ronded to 5148.20 , Sir youll notice that the long got triggerred at 11.50 only.
The question comes that why did i not go short in the signals in between, for this the rule is that atleast one bar must close above the upper band and thereafter we initiate a Short when a bar closes inside the band. The first bar that closes out side the band was at 10.45 and the very next bar closes inside the band and as per rule we go short below the low of this bar at 10.50 and the low was 5135.35, which after filter comes to :
5135.35 minus2/- = 5133.35, rounded to 5132.80
The lowest level that we get after that was 5134.05 only, so short was not started.
After going long we look for fresh levels to reverse, we are either long or short during the trades in normal circumstances.
After going long at 11.50, the bar you have questioned is the bar at 12.00 noon.
Sir, the bar actually cut the upper band and closed inside by just .07 paise, we can ignore this and have a rule of ceratin paise by which we may call it a valid close inside. However in any case this low was not breached so we continue our long.
The next bat marked by you sir, is the 2.00 o clock bar , again sir the low was not breached....
I exit at or after not taking a New trade thereafter, just continue the trade if i am in one till it either get stopped out or at 3.25 whichever event occurs first!!!
Would really really love to get a feed back from you!!!! rkkarnani speaks very high of you, he says he met you personally at Kolkata meet of traderji.com
My best regards
-Gautam

gkpc · #**4666** 10th May 2008, 07:40 PM

Quote:

If you cannot clearly explain and its just because of gut feelings / intution, please don't loose it, keep doing what you have been doing ... making money.

Regards
Sanjay

Sir, rkkarnani, told me in plain simple language never to try to predict the market. He said that maybe in few years or maybe if i am fast learner a bit earlier i may start to have gut feeling, feeling in my heart to either enter a trade before the signal or maybe even exit a trade before the graph tells me to, but till then he advised to follow the rule to the T!!!! For gut feelings also he advised to trade (wheneve in future times) on paper beofre actually trading it in mkt.
I have tried to follow his advise, and when i say tried, let me accept that its easier said than done. Inspite of making profitable trade I did not enter a trade as had a gut feeling that the price bar has opened with a big gap so let me wait, the trade went on and gave good profit while i was sitting outside the mkt., at other time i exited a trade much earlier though my Sl was in place and was in profit, the fear of loosing the extra profit made me do it, that particular trade gave over 40 points or so where as i exited at mere 15 points or so.....
I had tried to post my trades live on the forum so that an interaction would help me improve. rkkarnani had frankly declined any advisse or chat or interaction during market timings!!!!
i did offend him by pestering him to come to the chat room day before, he did come and as a usual replied my queries. I apologised to him but i was desperately looking for a RT vendor, still looking for one!!!!
R K Karnani named the person whose data he is using but i need a vendor who gives tick data or atleast one minute data, sir can u guide me in this regard. My friend uses some service from New Delhi and is giving problems for last few days.
eSignal maybe the solution but not sure whether i shall understnd the software. I became after a lot of hard work familiar with metastock...
Views and suggestion on this Data matter shall be really helpful.
Regards
-Gautam

mitr · #**4667** 10th May 2008, 08:30 PM

Is market or Nifty can hold this month .. ??? if yes then plz reply .. i think mkt bottomout & mkt will touch new highs with every rise & correction .. but sudden change in trend & some lack of volume & in addtion to tht Rising Crude ? is mkt digest this all things ??? i think in most of asian mkt Our mkt looks good to invest for good returns in case of growth .. wt say guyz ?? giude me plz .. plz mail me @ bhosale.manoj@********** if any correction or suggesations ....

lvgandhi · #**4668** 10th May 2008, 08:46 PM

Quote:

Originally Posted by SGM

Hello

Nifty Futures hourly chart with Kolkata Indicator version with bands, using cross on lower red band for short, and upper blue band for long.

One needs to negociate the wipsaws (marked by white circles), keep taking the next signal and have some patiance to hold on to the winning trades, I guess something that many here can handle.

Regards
Sanjay

Kindly excuse me for my ignorance. I saw am afl for Kolkata meet indicator giving a single line. Is there any afl for this band. Any reference please? and any rules to follow with the band please?

nagendra_gb · #**4669** 10th May 2008, 10:09 PM

Quote:

Originally Posted by lvgandhi

Kindly excuse me for my ignorance. I saw am afl for Kolkata meet indicator giving a single line. Is there any afl for this band. Any reference please? and any rules to follow with the band please?

pls pls share us the AFL for this .

Thanks,
Nagendra

SGM · #**4670** 10th May 2008, 11:00 PM

Quote:

Originally Posted by lvgandhi

Kindly excuse me for my ignorance. I saw am afl for Kolkata meet indicator giving a single line. Is there any afl for this band. Any reference please? and any rules to follow with the band please?

Quote:

Originally Posted by nagendra_gb

pls pls share us the AFL for this .

Thanks,
Nagendra

I think the afl code was already posted in the thread for kol indicator

Code:

_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() ); 
_SECTION_END();

_SECTION_BEGIN("Kolkata Meet - Bands");
//..........................................................................

a = Param("Angle Degrees",30,15,90,15);
n = Param("Slope_Bars",5,10,50,1);

a    = (22 / 7) * (a / 180);

Num = NumL = NumH = 0;
Den = 0;

for (i = 1;i < n+1;i++)
{
	Num  = Num  + sin(i * a) * Ref(C,-i-1);
	NumL = NumL + sin(i * a) * Ref(L,-i-1);
	NumH = NumH + sin(i * a) * Ref(H,-i-1);
	Den = Den + sin(i * a);
}

j  = Num/Den;
jL = NumL/Den;
jH = NumH/Den;

//Plot(j, "Slope", IIf(j > Ref(j,-1), colorBlueGrey,colorLime), styleThick | styleDashed);
Plot(jL, "LB", colorLime,styleThick | styleDashed);
Plot(jH, "UB", colorBlueGrey,styleThick | styleDashed);

_SECTION_END();

_SECTION_BEGIN("Signal 04");
Buy  = C > jH;
Sell = C < jL;

Buy  = ExRem(Buy,Sell);
Sell = ExRem(Sell,Buy);

Short = Sell;
Cover = Buy;

Short = ExRem(Short,Cover);
Cover = ExRem(Cover,Short);
_SECTION_END();


_SECTION_BEGIN("Plot Arrows");
//Position size fixed 100 units
SetPositionSize(100,4);
SetTradeDelays(1,1,1,1);


PlotShapes(shapeUpArrow * Buy, colorBlue,0, L,-20);
PlotShapes(shapeDownArrow * Short, colorRed,0, H, -20);
_SECTION_END();

Just hope the moderators don't ban me for posting code in this thread

My testing showed works better with higher time frames (hourly and above) found it tough to use with smaller TFs like 2/3/5/ mins..., anyway Goutam is already successfully using it on smaller TFs, so choose what suits you.

Please backtest, forward test, paper trade or any which way you can, just be sure before using in RT.

Regards
Sanjay