My System - My trades.

[natjay]

I'm wondering if we can use NinjaTrader instead of Amibroker. NinjaTrader is free, so we only have to spend on getting authorized data.

By the way, doesn't Kite support scripting too? The scripts shared so far for the ribbon seem simple enough to translate into whatever language Kite supports. Might ask Zerodha about this.

 

[varunkochhar]

A maximum of 240 points could be made using this new system in 2 trades (of 1 lot Each). 1st trade(a short) could have fetched a max of 90 points. The 2nd trade (a long) could have fetched a max of 150.

 

[paragrr]

A maximum of 240 points could be made using this new system in 2 trades (of 1 lot Each). 1st trade(a short) could have fetched a max of 90 points. The 2nd trade (a long) could have fetched a max of 150.

Varun ji, Can you please give entry exit levels with reason

Regards,
Parag

 

[varunkochhar]

No reason. Just Mechanical trading. Sell when price ribbon turns red. Buy when price ribbon turns blue. Take out all thinking and bias out of your trading. I am just trying this out to set me free. Yesterday we could have got a max of 350-400 points. Today also we could have got 250-300 points so far. Only with 1 lot at a time without adds.

 

[varunkochhar]

I just checked today it could have given a max of (90+160+50+70) = 370 points in 4 signals.

 

[MEAG]

No reason. Just Mechanical trading. Sell when price ribbon turns red. Buy when price ribbon turns blue. Take out all thinking and bias out of your trading. I am just trying this out to set me free. Yesterday we could have got a max of 350-400 points. Today also we could have got 250-300 points so far. Only with 1 lot at a time without adds.

Varun ji,

Thanks for the update. What about the OBV ribbon? Shouldn't it also be in sync with price ribbon to initiate the trade?
Can you please post today's BNF chart with ribbons later during the day as I am not an ambi user.

 

[varunkochhar]

Even if one had targetted 50 points per signal, one would have got 200 points fair and square. Maybe beginners luck. The idea is to make your trading mechanical.

 

[varunkochhar]

I will think about the logic for role of OBV also in this over the weekend. Definitely it will have a very important role to play because of the volume component. Let me figure out the most optimum way to use both. But for now i am looking at only price ribbon.

 

[varunkochhar]

You can use OBV for adds i think. When the price ribbon is blue and the OBV ribbon becomes red. First tighten your stops. If OBV ribbon again becomes blue without the price ribbon changing colour, you can add to your position. Your SL would also become the lowest price level when The OBV ribbon was in red for both your positions (initial + add). Confusing ? well i will upload some charts in the evening.

 

[VJAY]

Dear Varunji,
how you use sl and tsl when trade using ribbon?