Conservative strategy

[pakatil]

Dear Suri,

I wonder if you ever mentioned that trade closes after 30 pts travel.

Today's 1st Trade touched 30 pts travel much later, by which time your 2nd trade had started.

We have enough material to get confused.......isnt it...

Cheers

 

[suri112000]

Dear Suri,

I wonder if you ever mentioned that trade closes after 30 pts travel.

Today's 1st Trade touched 30 pts travel much later, by which time your 2nd trade had started.

We have enough material to get confused.......isnt it...

Cheers

Not much confusion. Think of a trade like this. Once in trade, your profit target is 30 points. But due to profitability issues of overall system, we have reduced the profit target to 15. Though we are booking profit at 15 points, the original trade of 30 points profit target is still on. Isn't it? So, once in a trade, the trade closes only if price moves 30 points favourably or hits SL of 10 points. Hope the confusion clears now.

 

[Silentshadow]

Dear Suri,
I have a quick one's

* Supertrend afl that you are using is different from the standard that is available aint it? when I check kite it just shows period and multiplier any idea what should be values over here so that It matched your configuration
* Second I would be relying on candle {green/red] that comes up on the standard system provided by zerodha for that matter any broker - trust it should be fine

Not much confusion. Think of a trade like this. Once in trade, your profit target is 30 points. But due to profitability issues of overall system, we have reduced the profit target to 15. Though we are booking profit at 15 points, the original trade of 30 points profit target is still on. Isn't it? So, once in a trade, the trade closes only if price moves 30 points favourably or hits SL of 10 points. Hope the confusion clears now.

 

[Silentshadow]

This is how it differs

3rd Trading Day [03/8/2016]

Overall a very tempting day to enter frequent trades throwing rules out of window.

Total 3 trades. 1st trade taken with 2 lots and has hit its target. 2nd trade taken with 1 lot and has hit its target. 3rd trade has hit SL. 3rd trade is a classic example of quick failed trade and we have to anticipate such trades and be quick to enter SL and exit the trade at SL.

+30
+15
-10
=====
+35 -8 brokerage = +27
====

Cumulative = 27+2+27 = 56 points.

PS :- As today's last trade is a loss trade, we will enter with 2 lots with the first trade.

 

[Smart_trade]

Not much confusion. Think of a trade like this. Once in trade, your profit target is 30 points. But due to profitability issues of overall system, we have reduced the profit target to 15. Though we are booking profit at 15 points, the original trade of 30 points profit target is still on. Isn't it? So, once in a trade, the trade closes only if price moves 30 points favourably or hits SL of 10 points. Hope the confusion clears now.

Sorry to intrude but does it also mean that we will not enter a second trade in the same direction till the 30 points profit or 10 points stoploss is met and the first trade is over though for us we have closed the trade on a profit of 15 points ? Asking just for my understanding.

Smart_trade

 

[suri112000]

Dear Suri,
I have a quick one's

* Supertrend afl that you are using is different from the standard that is available aint it? when I check kite it just shows period and multiplier any idea what should be values over here so that It matched your configuration
* Second I would be relying on candle {green/red] that comes up on the standard system provided by zerodha for that matter any broker - trust it should be fine

My supertrend AFL settings are given in 1st post of this thread. Also, the complete AFL is given elsewhere in this same thread. I donot use kite of zerodha, so i cannot comment on its usefulness for this strategy.

Backtesting and finetuning the SL and profit targets are based on the charts which are as per charts in Amibroker in my system. You can see in one of my posts, a clear backtesting report how the SL and profit targets are calculated and fine tuned.

Today issues relating to green and red bars have come up with some traders. Check the closing time of first candle in 5 min TF with kite. It should exactly close at 09:19:59. If it does, there should not be any problem with red or green bar issues.

The candles shown in kite chart are of Haikin Ashi candles. Naturally the supertrend differs from normal candlestick chart.

 

[vijkris]

This is how it differs

it seems u r using heikin ashi. use normal candles.

 

[Silentshadow]

Bang on money .. F**** how did I miss that .. silly things that we do .. Thanks bud

Ami, I cannot carry that system to office so need to find a midway to configure supertrend as Suri mentioned.

Any bright idea's gentlemen? Have only two fields period and multiplier to tinker around on super trend :annoyed:

it seems u r using heikin ashi. use normal candles.

 

[suri112000]

Sorry to intrude but does it also mean that we will not enter a second trade in the same direction till the 30 points profit or 10 points stoploss is met and the first trade is over though for us we have closed the trade on a profit of 15 points ? Asking just for my understanding.

Smart_trade

Welcome ST.

You are right. We will not open a new trade unless earlier trade hits 30 points favourable move or 10 points SL.

 

[Silentshadow]

Thanks for replying Suri. For super trend I found close match in the form of period 7 & multiple 4. Posting it for benefit of larger audience.
Snaps below

My supertrend AFL settings are given in 1st post of this thread. Also, the complete AFL is given elsewhere in this same thread. I donot use kite of zerodha, so i cannot comment on its usefulness for this strategy.

Backtesting and finetuning the SL and profit targets are based on the charts which are as per charts in Amibroker in my system. You can see in one of my posts, a clear backtesting report how the SL and profit targets are calculated and fine tuned.

Today issues relating to green and red bars have come up with some traders. Check the closing time of first candle in 5 min TF with kite. It should exactly close at 09:19:59. If it does, there should not be any problem with red or green bar issues.

The candles shown in kite chart are of Haikin Ashi candles. Naturally the supertrend differs from normal candlestick chart.