Day trading Basics

[manojborle]

So now I changed the exit condition and now it is based on the low or high of previous candle for Buy and short entry respectively.

We can see the result is quite improved, but our primary condition is that we have to square off our position at the end of the day.

I don't know how can I write this condition into AFL ?
Expect some help from members.........

NOTE: parameter for stochastic changed from 14, 3 to 24,3

 

[manojborle]

NOTE: parameter for stochastic changed from 14, 3 to 24,3

 

[varun_alld]

hyi manoj,

your system is really good ......... few months back i was also trying my hands with stochastics & EMA ........ can you add 8 EMA into this chart and then take buy signals only when the price is above 8 ema (and dont take any sell signals when the price is above 8 ema ) and opposite for sell ..... i feel a few whipsaw would be saved on intraday ........

just try this and post the result on this thread ....... and then we can move further in trying to enhance this intraday strategy

regards,
varun.

 

[manojborle]

GAPS

An opening GAP occurs when today's price is either greater than yesterday's price or less than yesterday's low price.

Gap Trading rules :

Signals : There are 2 signals, first in GAP OPEN and second is DELAYED GAP OPEN.

GAP DOWN BUY SIGNAL :

1. In the event of opening price GAP DOWN, first condition for possible buy signal will be established.

2. If a lower opening price gap occurs, then you will place an order to buy once the market has come back up and penetrated previous day's low by a certain number of ticks.

3. Such an order must be given as Buy stop order OR buy stop limit order

4. Once the order has been filled, You will use the stop loss at a pre determined amount or several ticks below the previous day's low.

 

[manojborle]

hyi manoj,

your system is really good ......... few months back i was also trying my hands with stochastics & EMA ........ can you add 8 EMA into this chart and then take buy signals only when the price is above 8 ema (and dont take any sell signals when the price is above 8 ema ) and opposite for sell ..... i feel a few whipsaw would be saved on intraday ........

just try this and post the result on this thread ....... and then we can move further in trying to enhance this intraday strategy

regards,
varun.

Thanks Varun.
I will try that and post the results here

 

[manojborle]

Thanks Varun.
I will try that and post the results here

Hi Varun, This is the chart after adding your condition.

I also tried with 5,6,7,9 EMA and found 6 EMA as best which gave 33 % winner and 67% loser for NIFTY chart for last 2 months

 

[manojborle]

GAPS

An opening GAP occurs when today's price is either greater than yesterday's price or less than yesterday's low price.

Gap Trading rules :

Signals : There are 2 signals, first in GAP OPEN and second is DELAYED GAP OPEN.

GAP DOWN BUY SIGNAL :

1. In the event of opening price GAP DOWN, first condition for possible buy signal will be established.

2. If a lower opening price gap occurs, then you will place an order to buy once the market has come back up and penetrated previous day's low by a certain number of ticks.

3. Such an order must be given as Buy stop order OR buy stop limit order

4. Once the order has been filled, You will use the stop loss at a pre determined amount or several ticks below the day's low.

GAP UP SELL SIGNAL

1. In the event of opening price GAP UP, first condition for possible Sell signal will be established.

2. If a higher opening price gap occurs, then you will place an order to sell once the market has come back down and penetrated previous day's high by a certain number of ticks.

3. Such an order must be given as Sell stop order OR Sell stop limit order

4. Once the order has been filled, You will use the stop loss at a pre determined amount or several ticks above the day's high.

 

[manojborle]

Can anybody help for this post about GAPS ?

I want to write an AFL which can filter stocks where there is a opening gap at 9:15 AM every day ?

 

[varun_alld]

Can anybody help for this post about GAPS ?

I want to write an AFL which can filter stocks where there is a opening gap at 9:15 AM every day ?

i wish i could help u manoj ......... but have no idea about afl's .....

 

[manojborle]

i wish i could help u manoj ......... but have no idea about afl's .....

Yeah All I need is which functions could be used so that I can write AFL, so that we can see how this GAP method works ?