Set and Forget - Index Futures Break out

[ag_fx]

Trade Levels for: 28-May-2020
BankNifty:
Buy at 19700, SL at 19575
Sell at 17775, SL at 17850
Nifty:
Buy at 9550, SL at 9500
Sell at 9080, SL at 9125

EOD Update: No Trade Taken

 

[ag_fx]

1. What is the amount of back testing you have done to arrive at your system.

2. How do you handle overnight gaps,
say instead of 19700 ur buy level was 18700,
today BNF opened at 18816 (with low of 18750)

Would you chase it or skip the trade?

.

These are very good questions. As I mentioned above, I have put in a lot of hard work and research in fine tuning the method by which the level is determined. I will probably put out some thoughts on what kind of research I did and how to tread the same.
Meanwhile, my system was backtested on data from 2010-2019 END. I wanted to start paper trading earlier in the year, but was not able to. I kept trying to change the parameters of the system - trying to chase it more. But I only realized that it increased my stress without the performance improvement. That's when I decided to start logging my trades on a public forum, so that I don't go back and try to curve fit.

To answer your second question, it depends on where market trades in first 30 minutes. Just the Open of market is not enough as a lot of times markets quickly change direction within first 15-20 minutes. If at the end of the first 30 minutes, the market is already above the breakout levels, then for that day, no more Buys are taken.
I will keep the Short orders in for such a day. Though it is highly unlikely that a Short will be triggered on such a large gap up day.

 

[ag_fx]

Gap above/below his intended trading levels

these things if/when not considered during back-testing mess up the results
also slippage n cost, but that Q was for another day

.

In my backtest, I did consider commission and slippage. It accounts 0.1% of Index Level as slippage. So for example at today's level that would amount to 19-20 points slippage on BankNifty and about 9-10 points on Nifty. Similarly commission is also taken into account based on current Zerodha brokerage calculator.

 

[ag_fx]

Trade Levels for: 29-May-2020
BankNifty:
Buy at 19675, SL at 19575
Sell at 18640, SL at 18745
Nifty:
Buy at 9650, SL at 9600
Sell at 9330, SL at 9375

 

[timepass]

I am not looking to post the trading logic. It is private and something I’ve come up after lots of research and hard work. This is a trade journal and not a spam thread. If I am breaking any rules of the forum, happy to discuss and revert any changes.

Simply posting the trade levels is a breach of the forum. Please support your levels with logic. A simple trade journal does not benefit the forum.

 

[ag_fx]

Simply posting the trade levels is a breach of the forum. Please support your levels with logic. A simple trade journal does not benefit the forum.

I wish I could have explained this better. It is not a chart reading system. to arrive at a particular level. It is hard math and formula based. If I disclose the formula, I disclose all my research and hard work in a market against myself. The parameters of that formula have been tested and tuned after hours and hours of research and backtests. Nonetheless, there are many ways to trade these levels - Trailing Stop Loss, Fixed Risk:Reward, no trail etc.

I was looking to document my trades here to instill the confidence and discipline in sticking to the plan. I can certainly help those who are looking to create quantitative systems too. I am happy to share my insights too. But I can only bring the horse to the pond, not make it drink it.

Lastly, I can't post the exact formula. The world of trading is moving more and more toward building and trading systematic and quantitative systems and it should be encouraged. Let this be a thread to show how simplest of systems can work if we trade with discipline. I can very well tell you, that a system which has simple opening range breakout will also work if people stick to it.

I have been a part of this forum for a better part of 13 years. I have seen threads, systems and people come and go. This thread is not abusive and is not seeking commercial gains. In my experience, those are usually the reasons for an action.

As per the rules of forum, here are the two clauses that govern violations.

(6) NO ABUSIVE & IRRESPONSIBLE POSTING - You agree, through your use of this service, that you will not use Traderji.com to post any material which is knowingly false and/or defamatory, inaccurate, abusive, vulgar, hateful, harassing, obscene, profane, sexually oriented, threatening, invasive of a person's privacy, or otherwise violative of any law.

(7) NO ADVERTISEMENTS & SPAMS - Please note that advertisements, self promotion, chain letters, pyramid schemes, and solicitations are inappropriate and not allowed on this forum.

As a moderator, anyone has the power to decide what is SPAM. However, a spam is usually unsolicited and something that a person did not seek. A TRADING JOURNAL is meant to support paper trading of a system. Besides a customary look at the trading journal section reveals there are several threads that post levels on their own analysis, which is discretionary in nature. My analysis is PURE MATH. How do I post PURE MATH, in a way that can help others without penalizing me?

 

[ag_fx]

Trade Levels for: 29-May-2020
BankNifty:
Buy at 19675, SL at 19575
Sell at 18640, SL at 18745
Nifty:
Buy at 9650, SL at 9600
Sell at 9330, SL at 9375

End of the Day Update - No Trade Triggered

 

[timepass]

I wish I could have explained this better. It is not a chart reading system. to arrive at a particular level. It is hard math and formula based. If I disclose the formula, I disclose all my research and hard work in a market against myself. The parameters of that formula have been tested and tuned after hours and hours of research and backtests. Nonetheless, there are many ways to trade these levels - Trailing Stop Loss, Fixed Risk:Reward, no trail etc.

I was looking to document my trades here to instill the confidence and discipline in sticking to the plan. I can certainly help those who are looking to create quantitative systems too. I am happy to share my insights too. But I can only bring the horse to the pond, not make it drink it.

Lastly, I can't post the exact formula. The world of trading is moving more and more toward building and trading systematic and quantitative systems and it should be encouraged. Let this be a thread to show how simplest of systems can work if we trade with discipline. I can very well tell you, that a system which has simple opening range breakout will also work if people stick to it.

I have been a part of this forum for a better part of 13 years. I have seen threads, systems and people come and go. This thread is not abusive and is not seeking commercial gains. In my experience, those are usually the reasons for an action.

As per the rules of forum, here are the two clauses that govern violations.

(6) NO ABUSIVE & IRRESPONSIBLE POSTING - You agree, through your use of this service, that you will not use Traderji.com to post any material which is knowingly false and/or defamatory, inaccurate, abusive, vulgar, hateful, harassing, obscene, profane, sexually oriented, threatening, invasive of a person's privacy, or otherwise violative of any law.

(7) NO ADVERTISEMENTS & SPAMS - Please note that advertisements, self promotion, chain letters, pyramid schemes, and solicitations are inappropriate and not allowed on this forum.

As a moderator, anyone has the power to decide what is SPAM. However, a spam is usually unsolicited and something that a person did not seek. A TRADING JOURNAL is meant to support paper trading of a system. Besides a customary look at the trading journal section reveals there are several threads that post levels on their own analysis, which is discretionary in nature. My analysis is PURE MATH. How do I post PURE MATH, in a way that can help others without penalizing me?

How does posting a trading log in a public forum help anyone ? Everyone has acquired their knowledge with dint of hard work, but do post and discuss their methodology here. The forum is for sharers.

 

[marimuthu13]

I wish I could have explained this better. It is not a chart reading system. to arrive at a particular level. It is hard math and formula based. If I disclose the formula, I disclose all my research and hard work in a market against myself. The parameters of that formula have been tested and tuned after hours and hours of research and backtests. Nonetheless, there are many ways to trade these levels - Trailing Stop Loss, Fixed Risk:Reward, no trail etc.

I was looking to document my trades here to instill the confidence and discipline in sticking to the plan. I can certainly help those who are looking to create quantitative systems too. I am happy to share my insights too. But I can only bring the horse to the pond, not make it drink it.

Lastly, I can't post the exact formula. The world of trading is moving more and more toward building and trading systematic and quantitative systems and it should be encouraged. Let this be a thread to show how simplest of systems can work if we trade with discipline. I can very well tell you, that a system which has simple opening range breakout will also work if people stick to it.

I have been a part of this forum for a better part of 13 years. I have seen threads, systems and people come and go. This thread is not abusive and is not seeking commercial gains. In my experience, those are usually the reasons for an action.

As per the rules of forum, here are the two clauses that govern violations.

(6) NO ABUSIVE & IRRESPONSIBLE POSTING - You agree, through your use of this service, that you will not use Traderji.com to post any material which is knowingly false and/or defamatory, inaccurate, abusive, vulgar, hateful, harassing, obscene, profane, sexually oriented, threatening, invasive of a person's privacy, or otherwise violative of any law.

(7) NO ADVERTISEMENTS & SPAMS - Please note that advertisements, self promotion, chain letters, pyramid schemes, and solicitations are inappropriate and not allowed on this forum.

As a moderator, anyone has the power to decide what is SPAM. However, a spam is usually unsolicited and something that a person did not seek. A TRADING JOURNAL is meant to support paper trading of a system. Besides a customary look at the trading journal section reveals there are several threads that post levels on their own analysis, which is discretionary in nature. My analysis is PURE MATH. How do I post PURE MATH, in a way that can help others without penalizing me?

if possible move this thread to trading diary section where you dont need to post any logic at all

 

[ag_fx]

How does posting a trading log in a public forum help anyone ? Everyone has acquired their knowledge with dint of hard work, but do post and discuss their methodology here. The forum is for sharers.

It helps me. It is MY Trading Diary. It puts accountability on me. If someone is really interested in learning - there are a lot of ways to help them. If someone is only looking to mooch of someone else's hard work - too bad.

I already told you - this is not one of the BS analysis thread. Buy when a FLYING DANCER pattern is formed in market or Sell when a FOOTBALL GOAL is spotted!!!!

This is pure Math. You answer my question - My analysis is PURE MATH. How do I post PURE MATH, in a way that can help others without penalizing me?

I am absolutely ready to help others - just answer my question above!