Patterns and Technicals

[coolboy007]

Re: Trading only one hour in a day !!!!!

Hi guys..im really sorry as i got stuck in the college...today was a wonderful day even to start back testing our system...Thank you seniors for all your inputs and ideas to make this system a better one...One thing i wanted to mention after i went through the posts here..can we do it this way..like today if we have carried our buy position all day long( we had great profits though), now to bring in the risk management to this...i would probably want to square off all positions( the current ones) and take a fresh position for tomorrow and not to carry our profitable positon for tomorrow....I think this would help in adverse conditions in the market the next day...and i just had another point to make...what if we take the 70 30 rule with a smaller lot size( as AW sir told us about the momentum) and when we get the signal for 90 10..we would go for a bigger lot size...plz lemme know ur views on this...

What a day for backtesting , we were bang on target. I sq off this trade and again went long at 3140 for 2moro % was coming around 84 ( am weak in maths , sahi calc thi na )???? 84% was good so no hedging , am 2 minifty long paper trade.

Did i do everything right , came at 3pm so sq off trade at max profit

Does it make sense what i did , sq off prev trade and take fresh position in same way but with double quantity.
help me

 

[Sunil]

Re: Trading only one hour in a day !!!!!

One thing i wanted to mention after i went through the posts here..can we do it this way..like today if we have carried our buy position all day long( we had great profits though), now to bring in the risk management to this...i would probably want to square off all positions( the current ones) and take a fresh position for tomorrow and not to carry our profitable positon for tomorrow....I think this would help in adverse conditions in the market the next day...and i just had another point to make...what if we take the 70 30 rule with a smaller lot size( as AW sir told us about the momentum) and when we get the signal for 90 10..we would go for a bigger lot size...plz lemme know ur views on this...

backtracking of your main purpose of this thread....!!!!????

i m outta here

 

[pkamalesh]

Re: Trading only one hour in a day !!!!!

Yes cB...that was right..But remember we dont wait until 3 pm to square off every day...tadaywas different...and one more thing...plzzz post the points earned every day(we will only count the points earned first) and keep it updated everyday...Good work dude

 

[pkamalesh]

Re: Trading only one hour in a day !!!!!

na na sunil sir..i think i made a blunder by not getting it right...I was saying like today we carried on to our position after 10.30 because the market was in our favour and we got profits..rt?? I wanted to say that if we can close the previous days position at 3.15 and take that days fresh position again, that would avoid any major risk the next day...that was what i wanted to say...donno if i miscommunicated...

 

[coolboy007]

Re: Trading only one hour in a day !!!!!

Yes cB...that was right..But remember we dont wait until 3 pm to square off every day...tadaywas different...and one more thing...plzzz post the points earned every day(we will only count the points earned first) and keep it updated everyday...Good work dude

Yeah the points earned are 3120 - 2980 = 140 points. 140 POINTS

As we dont have a ENTRY EXIT mechanism , my points earned will be everyday around 3pm nifty when i reach home. Is that fine.
You cn calculate ur Points mine is 140 and again long frm 3140. Would look at sq off nearby 3250 as thats a major resistance and again take fresh position at 3 pm trend.

Bro i dont think points earned will match as every1 will book profits at various levels.

 

[ravalsb]

Re: Trading only one hour in a day !!!!!

Hi pkamalesh,

Thanks for this intiative. Although, i am little confused w.r.t entry as % of day's range... have gone ahead to check in last few trades. Please see attached file.

Few assumptions, that i have taken, these are for the sake of simplicity in my calculations, in absence of 3PM and 10.30AM data.

1. last trade of the day is taken.

2. If close (read day's close) minus days low as compared to days high minus days low is 70% or more, Long, all other trades are Short. i.e. I have taken all trades as short where % is less than 70%.

3. I am out with first trade of the day, irrespective of whether its in profit/loss. This is so beacuse I do not want to combine this with any other method, But still it is open to an individual.

Am not that good with excel, so may be there are formula errors. Request to you and all seniors, to have a look at it.

Regards

Edit: Updated file with selected trades for long and short with 70% criteria.

 

[tomdickpary]

Re: Trading only one hour in a day !!!!!

tomrow nifty will see in RED or GERRN whats ur view .every one can give ur view.

 

[rkkarnani]

Re: Trading only one hour in a day !!!!!

Hi guys..im really sorry as i got stuck in the college...today was a wonderful day even to start back testing our system...Thank you seniors for all your inputs and ideas to make this system a better one...One thing i wanted to mention after i went through the posts here..can we do it this way..like today if we have carried our buy position all day long( we had great profits though), now to bring in the risk management to this...i would probably want to square off all positions( the current ones) and take a fresh position for tomorrow and not to carry our profitable positon for tomorrow....I think this would help in adverse conditions in the market the next day...and i just had another point to make...what if we take the 70 30 rule with a smaller lot size( as AW sir told us about the momentum) and when we get the signal for 90 10..we would go for a bigger lot size...plz lemme know ur views on this...

Kamlesh, by squaring your previous Long position and entering a NEW long position all you do is 'help' your broker!!! Why should you exit and reenter the position in the same direction!! Yes, if we have a predefined profit booking level, we exit at that level and reenter at 3 PM or at whatever time our system tells us to...however the time when our profit level is reached where we are to book profit in exisiting position coincides with the time of taking a new position, we simply continue to hold on!!!

 

[bandlab2]

Re: Trading only one hour in a day !!!!!

kamalesh and coolboy,

let us not confuse this with any other variations. let us stick to initial post. calculate the % at 3:15pm, take the trade at 3:20 PM and close it on next day open (as early as possible)

no need to carry the position for intraday, if we do that then we can not test the actual strategy. if you want to carry, do it , but dont bring it to the tracker

once sunil collects the data for futures, then only we can get some confidence. dont get excited about what happened today. things can go against us quickly. let us build a system and stick to it without deviations

my personal view, no need to trade every day. 80-20, 90-10 are safe (until sunil proves us wrong on thursday)

 

[rkkarnani]

Re: Trading only one hour in a day !!!!!

Hi pkamalesh,

Thanks for this intiative. Although, i am little confused w.r.t entry as % of day's range... have gone ahead to check in last few trades. Please see attached file.

Few assumptions, that i have taken, these are for the sake of simplicity in my calculations, in absence of 3PM and 10.30AM data.

1. last trade of the day is taken.

2. If close (read day's close) minus days low as compared to days high minus days low is 70% or more, Long, all other trades are Short. i.e. I have taken all trades as short where % is less than 70%.

3. I am out with first trade of the day, irrespective of whether its in profit/loss. This is so beacuse I do not want to combine this with any other method, But still it is open to an individual.

Am not that good with excel, so may be there are formula errors. Request to you and all seniors, to have a look at it.

Regards

Dont think you are doing it right!!! We do not automatically take a short trade where the close is not within 70% of the days range from the high, i.e. to say the close is lower than within 70% of the high!!!

We take long trade when the price closes within the 70% (70% of days range)of the high.

We take a short trade when the price closes within the 70% of the low.

The 70% mentioned is for the days range, the difference of High less Low.