Set-Ups disscused & practised @ Nifty Futures Trading Thread.

[nagendra_gb]

Hi All,

Little bit from my end.. When ever nifty has opening price and day low as same then we will see upside break out. Today is also one day when day low is equal to day open. I have seen this once in last month also may be will post the date in the night. Is there any specific reasons behind this...

 

[orderflow13]

Hi All,

Little bit from my end.. When ever nifty has opening price and day low as same then we will see upside break out. Today is also one day when day low is equal to day open. I have seen this once in last month also may be will post the date in the night. Is there any specific reasons behind this...

When prices open and break the low of prev candle's low and close in apposite direction as today happened, we get a reversal candle.. plz do confirm others has m not candle xpert

 

[vvvv]

i am postin the metastock formula for AMA(adaptive mov avg).this goes totally flat during range bound markets.can any1 translate it into amibroker.
i cant understand the last 2 lines as u dont have the PREV & PWR syntax in amibroker...thnks


Periods := Input("Time Periods:",1,1000, 10);
Direction := CLOSE - Ref(CLOSE,-periods);
Volatility := Sum(Abs(ROC(CLOSE,1,$)),periods);
ER := Abs(Direction/Volatility);
FastSC := 2/(2 + 1);
SlowSC := 2/(30 + 1);
SSC := ER * (FastSC - SlowSC) + SlowSC;
Constant := Pwr(SSC,2);
AMA := If(Cum(1) = periods +1, Ref(CLOSE,-1) + constant * (CLOSE - Ref(CLOSE,-1)),PREV + constant * (CLOSE - PREV));
AMA

 

[Sunil]

HANDLING FIRST 15 - 30 MINS OF TRADE

Normally, it is said that one should wait for first 15 mins or 30 mins of the day, to gauge the market mood. But, for scalpers & intraday traders, this is one of the time zones, where a good directional momentum can be used for one's benefit.

Before proceeding ahead, I would like to refresh this TBQ : TSQ logic

http://www.traderji.com/derivatives...ifty-futures-trading-thread-3.html#post221364

Next one has to observe the first 5 min of trade (ie 9:55 to 10:00), and get a sense of the first 5 min bar which is going to be formed in intraday chart. Actually, this 5 minutes of trade not only forms the first bar of 5min chart (of the day), but also the first hourly bar (ie 9:00 bar = 9:55 to 10:00, 10:00 bar = 10:00 to 11:00, and so on).

THIS IS WHAT TO BE DONE:
At open, see what is sustaining more, TBQs or TSQs during the first 5 mins. From this. one gets an initial idea, in which direction will the first 5 min bar breakout... up or down.
If there are more TBQs, then try to buy near lower level, expecting the 5min bar to break on upside (your stop is known & near)

likewise, if TSQs are more, then short near higher level of initial band, expecting 5 min bar to break down....


Now, one can either keep booking partly at key levels, or keep trailing stop after breakout, or have a combination of both (book out half, and trail for balance).

I am not saying that difference between TBQ & TSQ should keep on increasing or decreasing... as long as TBQ is more than TSQ (for eg), then one should look to go long at dips; vice versa for shorts... my preference is to have a look at both Big's (50) & Mini's (20) TBQ:TSQ for confirmation ie both should have more TBQs, or both should have more TSQs.

here's a recent chart; paper-trade for few days, or use Mini to get an actual feel of it

 

[vvvv]

hi sunil,
i have been following this tbq/tsq thing.
i observe that many times tsq > 2tbq for the whole day.
still i find that sumtime during the day stock makes an uptrend 2 or 3 times in a session.during this period there is an increase in tbq but tsq is always greater than tbq.
now if i follow an indicator.is it correct to base my entries based on tbq/tsq.
is tht a very imp criteria during entries.
i find it to be quite ,misleading so may times.

 

[devangan123]

i find it to be quite ,misleading so may times.

TBQ/ TSQ is misleading many times but chance are less at opening time ,and Sunil is saying for just 5 minutes , plus asking to confirm with mini nifty too.

But since in stock market their is no perfect set up and will never build we have to look setups which has high probability of success and opposite side has lesser risk because stop loss is near in this set up.

So my advise is to do paper trading for first 2 weeks if you feel its good than follow it else leave it . And please post result of paper trading here so other can also benefit.


Devan

 

[Sunil]

hi sunil,
i have been following this tbq/tsq thing.
i observe that many times tsq > 2tbq for the whole day.
still i find that sumtime during the day stock makes an uptrend 2 or 3 times in a session.during this period there is an increase in tbq but tsq is always greater than tbq.
now if i follow an indicator.is it correct to base my entries based on tbq/tsq.
is tht a very imp criteria during entries.
i find it to be quite ,misleading so may times.

nah nah, i don't follow it like that... it's for only the initial trade...
that's what i have mentioned - i don't see what's the exact difference, how much is TBQ more than TSQ eg 2 times, 2.5 times, increasing/decreasing - NO AT ALL... one cannot trade looking at these quantities.... i am not concerned about the quantum of difference, but simply, what's more - not how much more.

your second thing - tsq>2tbq but still UT - i am sure this was not during the first 15-20 minutes... this must have been during mid day, after a decent DT...
read my post about TBQ & TSQ, given separately in this thread first, to get an idea..., or be with me in the Intraday thread, so that I can explain you properly in real time....

 

[Sunil]

Devan, I would just like to add that if a setup is giving me success more than 95% of times, I will use it EVERYTIME... if i get scared of that 5% of time (which one will never know before hand), how can one initiate trade...
Whatever I have put in here has been discussed, explained & fine-tuned with my seniors & co-members...
obviously, my foremost requirement is of a pure intraday trader's mind - free from his positional trades & whys & why-nots of nifty movement

 

[columbus]

hi sunil,
i have been following this tbq/tsq thing.
i observe that many times tsq > 2tbq for the whole day.
still i find that sumtime during the day stock makes an uptrend 2 or 3 times in a session.during this period there is an increase in tbq but tsq is always greater than tbq.
now if i follow an indicator.is it correct to base my entries based on tbq/tsq.
is tht a very imp criteria during entries.
i find it to be quite ,misleading so may times.

This has forced me to give a poll question on Total Buying Quantity (TBQ) and Total Selling Quantity (TSQ).

In the beginning I used to trade on TBQ and TSQ ,it gave me 100% negative returns.

 

[orderflow13]

Thing is TBQ/TSQ and how we use in first 5 min. As lots of traders making there decision on 5 min bar.
Its known fact that we can disguise our trade by multiple of 10 ( if i hv to sell 1000 quantity i will click disguise tab from my terminal and make it 100 )
Also when our terminal shows say 10 lk sellers and say nifty at 4000, and if i place order of sell nifty at 4150 with quantity 1 lk ( if my account is that healthy, terminal/broker allows to place the order ) so that 1 lk of mine also get included in TSQ of 10 lk . Where as that 1 lk qt. of mine has no meaning as my sell price is 150 point higher than current price
Now sunils point is very acceptable .. my argument is at first 5 min how many traders afford to adjust hide quantity ? as lot of big traders even dont place market order they type ' 0' in price tab and place order .. terminal take this order as zero order and execute according to bidder ( famous as 'zero trade' )
I think first 5 min ttq is a bit considerable and we might ignore this in later time frame. still remember when reliance power got listed and got hit with huge TSQ figures compare to TBQ
TBQ/TSQ must not use as a sole indicator but used with discretion