Trading NR7 setup

[rohangawale]

dead_xtinct;401284]HI Rohan ...Thanx a lot cuz this nr7 thing really makes sense...
However i have some doubts and seek your help ..
.

1.) I bought Ambujacem @ 106.64 today ... and it touched 107.4(all this happned in the 1st half an hour of trading)...But Ur Last post says"No Breakout" for Ambujacem.......WHY?.....

No breakout mentioned in ambujacement is based on closing price of the stock.
what im mentioning abt all the stks is based on closing price. may be the stk is volatile thru out the day, but we are taking closing price for seeing the breakout.

do we need to wait a certain time after market opening b4 we start trading with NR7 setup

it all depends on out strategy what we are using.
ideally we can enter the trade after retesting is being done. price breakout is done and in a spike we see opposite trend in next min, so its better to avoid false breakout and then to enter trade with our set of rules.

2.)I ws not able to exit cuz i had a 1% target in my mind ....What profit taking strategy should we use ..Based on your experience how much % profit targets woud u suggest ? 0.65-0.75% ?

based on our rules we have to exit the trade. there is no full proof 100% working strategy for stock market. we have to look at risk reward ratio, what risk we can handle on the trade, PH/PL levels can act as good exit points. we cant assure that we will get 0.65 or 0.75 or 0.05 % returns from trade.
we have to manage the risk tats all. let profit runs and cut the loss asap.

 

[rohangawale]

NR7 Stock Triggered on 11 Jan:

[B]STOCK		HIGH		LOW[/B]
ACC		925		912
JP ASSOCIATE	166.50		162.80
JINDAL STEEL	718.85		705.4
MARUTI		1462.25		1438
NTPC		235.35		232
REL INFRA	1180.9		1158.9
SAIL		244.9		239
SUN PHARMA	1594.4		1564.85
TATA MOTORS 	799		782.25
TATA STEEL	655.9		645.2

NR7 Stock Close on 12th Jan:

		[B]11-Jan			12-Jan	
STOCK		HIGH	LOW		Close	Trigger[/B]
ACC		925	912		896.3	Down Break
JP ASSOCIATE	166.50	162.80		161.95	Down Break
JINDAL STEEL	718.85	705.4		706.25	No Breakout
MARUTI		1462.25	1438		1441.25	No Breakout
NTPC		235.35	232		229.2	Down Break
REL INFRA	1180.9	1158.9		1130.05	Down Break
SAIL		244.9	239		234.85	Down Break
SUN PHARMA	1594.4	1564.85		1577.70	No Breakout
TATA MOTORS 	799	782.25		787.25	No Breakout
TATA STEEL	655.9	645.2		624.55	Down Break

 

[mohhnow]

Rohan's AW10 nr7 breakout selection made a huge impact on a trend day like today:
ACC, Downward Break 912, Possible Entry 912 Low of day 895

JPassociate, Downward Break 162.80, Possible Entry 162.80 Low of day 159.60

NTPC, Downward Break 232, Possible Entry 232 Low of day 228.80

 

[mohhnow]

Rohan's AW10 nr7 breakout selection made a huge impact on a trend day like today:
RelInfra, Downward Break 1158.90, Possible Entry 1158.90 Low of day 1125

SAIL, Downward Break 239, Possible Entry 239 Low of day 232.20

TataSteel, Downward Break 645.20, Possible Entry 645.20 Low of day 623.85

 

[mohhnow]

hi aw10
thanks for your reply. Most of the compression days the body of the candle was very compressed. You have clarified it well.
Today the impact on nr7 expansion on rohan's selection was fantastic.
Ofcourse, i could not use coz of net problems, but still the result is fantastic, I have marked it on the graphs.

And, usually one wonders on the point of entry. In this method the entry is well defined.
Only, we need to find ways to maximize profit towards stretching towards the Hi/Lo optimally. I tried a few calculations on select scrips on excel. Even without stoploss the system seems to work safe.


Rohan, gr8 work, keep it up. The note above is for you too.

 

[AW10]

Hopefully people have enjoyed the big range of today (almost 100 points) compared to 50/60 points range that we have been seeing from last 2 weeks. They should have got max if they had shown the patience and trailed their stops.
This is sign that action is returning to market. The way it failed at top, is a warning sign but still we are missing the clarity.
We are back to the range of 5160-5220 (of last week of Dec), that we broke on upside and seen about 2% move.

Lets see if this range of 5160-5220 still holds or breaks ? If it break with WS7 type of day, then we have bit more clarity else if it still holds then we will have to see if mkt moves up with WS type trending of move again struggles to go up and shows us NR days..

Current week being Options expiry week in US, I am more inclined to wait for next week to see new action (but on alert if it happens in next 3 days).

Happy Trading

 

[AW10]

hi aw10
thanks for your reply. Most of the compression days the body of the candle was very compressed. You have clarified it well.
Today the impact on nr7 expansion on rohan's selection was fantastic.
Ofcourse, i could not use coz of net problems, but still the result is fantastic, I have marked it on the graphs.

And, usually one wonders on the point of entry. In this method the entry is well defined.
Only, we need to find ways to maximize profit towards stretching towards the Hi/Lo optimally. I tried a few calculations on select scrips on excel. Even without stoploss the system seems to work safe.


Rohan, gr8 work, keep it up. The note above is for you too.

I would never suggest to go without stoploss. We can never predict what will happen in the market so better to be safe then sorry. Always have your stops in place. Maybe on these types of days, you can choose to have wider stops.
As you have mentioned, what u get from the available opportunity depends on your exit plan..i.e. how u trail, how to book profit, how you scale in etc.
Perfect Entries with lousy exit will only give paises where it was possible to get Rupees.

Happy Trading

 

[mohhnow]

hi aw10,
ok, today is WS7 with a range of 99.55 of 1.9%,
WRB with shadows [long above, short below].
2nd Outside day.
2nd Higher high,
4th Lower Low.

Would like to read your explanation.

 

[mohhnow]

"I would never suggest to go without stoploss."

hi aw10,
oh, i gave it for an explanation to highlight the results consistancy.
Ofcourse, mostly the stop does not get hit, thats what i meant.
I will correct the details and put up the excel sheet for analysis.

eg:
I get on Axisbank:
1.1.02 to 8.1.10 nr7 days: 330, Brk Up possible: 175, Brk Dn days: 170 [somedays going both directions]
Total Trade: 345
Profit Possible after exp of 0.1% : 2928 on an avg price of 372.

1.1.09 to 8.1.10 nr7days: 45, Total trade possible: 51, profit after exp possible: 755 per share.
[Up break sale profit 421 from 27 trade
Down break sale profit 334 from 24 trade]

But then, Entry is defined well, exit is the maximum, one need to find a way to maximize towards the Hi or Lo of the day.
I wil send you the excel sheet. You correct it and post it.

 

[rohangawale]

NR7 Stocks Triggered on 12th Jan:

[B]STOCK		HIGH		LOW[/B]
GAIL		433.8		426
GRASIM		2,832.75	2,771.00
TATA MOTORS	797		781.05