BNF HIGH LOW trading stratagy

[rh6996]

What was the reason for short in BNF today?..it was trading above yesterday high...that itself was a strong signal of bullishness right? Just curious to know if you have any other thoughts. thanks!

Sirji,
seems you jumped directly on the last page of this thread !
As per the strategy of this Thread, short was on ! Just look at the first post and a typo in there rectified a few posts earlier from here, you will know why we went short!
Ueshmandal seems to be still in his Short trade as his SL held on as he entered a bit late !
The posts today by three members entering at different levels will surely invite further discussion on entry and SL !
Same strategy, but some hit SL already others still holding on !
Maybe this discussion will help to modify the rules of trading to make it better.

 

[ethan hunt]

SL depends on the entry point so for every trader it will be a different value.
Will be hit for some & for a few will not be hit.
There are no fixed levels (like supp / res) !
Strange strategy, not confidence inspiring.
Good till it works.

 

[umeshmandal]

Holding short, keeping faith with 18946 as SL in place.
Almost panicked when BNF touched 18940 !
One thing to note here is that had I entered a few minutes earlier say right at open at 18815 , my SL would be 18930 and would have been hit !
Ofcourse not sure whether my SL will be defended or be hit but safe till now as BNF is at 18900 after making a high of 18940!

Exited at 100 points profit !
BNF moved further down by another 100 after my exit!
Thanks SSP

 

[Happy_Singh]

SL depends on the entry point so for every trader it will be a different value.
Will be hit for some & for a few will not be hit.
There are no fixed levels (like supp / res) !
Strange strategy, not confidence inspiring.
Good till it works.

Nothing strange in the strategy . . .

It is based on concept of price reversion to the mean . . . calculated based on 2 days cycle of High//Low (+/- some fixed delta)

Again nothing strange if the trade fails on trend continuation days (when/if trend continues for 3+ days). That's the way its meant to happen, works when price reverts back towards the EMAs, Stops will hit when price keeps trending. Now theory says 70+ % of the times price will reverse to mean and keep trending less than 30% of the times, that's where the edge comes from.

Overall the OP has presented a very good concept, if needed everyone can personalize/change it further to suite their temperament/needs.


Happy

 

[mastermind007]

SSP, In the first post where strategy is defined and then in the accomapnying chart there is a typo in mentioning LOW in place of HIGH while calculating SELL range for next day !
People with my range of low IQ must have been stuck at the initial Posts for a long time figuring out how the Buy Sell figures came! Only half way through the thread someone pointed out the TYPO !
No idea what is stopping you from correcting the same SSP !
If possible please do it even now so that New visitors to the thread are not confused as I was !

I think TJ does not allow editing old posts after a week or so..

 

[rh6996]

I think TJ does not allow editing old posts after a week or so..

Sir, I am sure you are correct but I am equally sure that if this glaring error was pointed out to the Admin, they would do it for you ! I am more than sure they would relent or do it for you.
Anyways, even if its done now, may help the posterity !

 

[mastermind007]

stop loss hunting today.

 

[rh6996]

Todays ranges for BNF :

Sell if OPEN between : 18797 to 18992

Buy if OPEN between : 18404 to 18564


BNF opened at 18647.40 Its a NO TRADE ZONE ! Please confirm SSP?!!

 

[MUG]

yes, today was a no trade zone

 

[niftychartreader]

Todays ranges for BNF :

Sell if OPEN between : 18797 to 18992

Buy if OPEN between : 18404 to 18564


BNF opened at 18647.40 Its a NO TRADE ZONE ! Please confirm SSP?!!

How SSP can confirm
Dont you people know, that he has been banned since last few days