Backtesting and trading camarilla pivots

[praveenpious]

I use customized pivot points along with the standard set to gauge the price action.

 

[Nihilistic]

How effective and accurate are they in real time, Praveen?

 

[praveenpious]

Frankly, I am at loss about how to give an answer whenever I get that query.

Consider day-trading as an exam. Even if we do not know the answer to some of the questions, it is our overall performance that matters. I look at the weekly and monthly earnings rather than the daily earnings.

Let me reiterate - whatever I am using is NOT the holy grail. But through my interactions with seasoned traders, I learnt that they stick with the most simplistic methods - which are already out there. Pivot points, in my humble opinion, is grossly undervalued by the majority of the present day traders. It is of no wonder they come to the conclusion that "day-trading is impossible".

 

[Nihilistic]

Thank you, Praveen, for such comprehensive insightful thoughts. This definitely helped.

Regards,

 

[anuragjais]

Can anyone take the initiative n post the chart of daily trades ??
This will be very helpful for new guys like me.

I also wanted to ask if the opening is between H3 n H4, n then goes aove H4, then where will we buy ??
Like it happend in nifty fut. today.

Thanks

 

[tools&tradingideas]

Can anyone take the initiative n post the chart of daily trades ??
This will be very helpful for new guys like me.

I also wanted to ask if the opening is between H3 n H4, n then goes aove H4, then where will we buy ??
Like it happend in nifty fut. today.

Thanks

you can find the rules all over the place on the internet. I adjusted the rules a bit which works best for me. But indeed if the price goes above H4 you buy. Below a chart of Friday on 1 TF future (US futures market)

 

[razx5]

Can anyone take the initiative n post the chart of daily trades ??
This will be very helpful for new guys like me.

I also wanted to ask if the opening is between H3 n H4, n then goes aove H4, then where will we buy ??
Like it happend in nifty fut. today.

Thanks

today H3 is 5360 and H4 5402.60..H5 5436 and H6 5471..buy triggered around 11.10..h5 achieved at 1.07 p.m and v closed caround H6 levels 5465 i have a;ready said never trade between H3 and L3 levels..u get whipsawed..kheema banjoage..buy only above H4 and short below L4..trust me u get these levels atleast 15 days out of 22 trading days..dont get frustrated id u dont get these levels..sometimes market is 100 points up..but ur h4/l4 do not trigger..so stay away..enjoy the rides of breakout..if u c 1 min chart u can xctly note the changes around these camarilla levels..have fun

 

[razx5]

today H3 is 5360 and H4 5402.60..H5 5436 and H6 5471..buy triggered around 11.10..h5 achieved at 1.07 p.m and v closed caround H6 levels 5465 i have a;ready said never trade between H3 and L3 levels..u get whipsawed..kheema banjoage..buy only above H4 and short below L4..trust me u get these levels atleast 15 days out of 22 trading days..dont get frustrated id u dont get these levels..sometimes market is 100 points up..but ur h4/l4 do not trigger..so stay away..enjoy the rides of breakout..if u c 1 min chart u can xctly note the changes around these camarilla levels..have fun

as i have said in the above said post..market had wild swing of 106 points btwn high and low..but according to camarilla v had no trades as our H4 was 5531 and L4 was 5381..neither of these 2 was broken as dy high was 5503 and low was 5397

 

[vaishraju71]

y the thread is dead razx where r u?

 

[praveenpious]

By all probabilities, he may have finally realized that camarilla equation is not the holy grail as advertised and envisaged by many!

Camarilla equations do work. However, we have to include subtle modifications to the original formula. With sufficient research, anyone can determine how to change the default system.

However, I like the underlying concept of camarilla equation i.e. (1) trend is not your friend everyday and (2) trying to find the high / bottom of a market is foolhardy - the market can always go higher or lower than one can ever possibly imagine.

Good Luck!