Best way of day trading - 2652 theory of trading

[bandlab2]

i am back fom vacation, goo to see the response an popularity of this method growing a lot. now with more eyes and real money on this, we can expect better results

kudos to dhiraj and sunil

 

[dhiraj11378]

hi to all
this week i think i will be better to avoid trading with hdfcbank, hdfc, bpcl,acc,infosystch, tcs, sunpharma, maruti. herohonda. bhel, grasim.

the hot stocks for this week with method i think will be
relinfra, siemens,relcap, aban, jindalstel,lt,divislab,axisbank,pnb,reliance

try to avoid sbi also this week
just try for any of five stocks suggested ( first five will be good )

happy week ahead
dhiraj

 

[jhaveri_n]

First of all, just to clarify, Saint sir has NEVER advised any 5min flow method. For intraday, it is 30min flow charts.

5min chart is GURU for scalpers / intraday swing traders like me; with 1min chart being the friend. You cannot take all pivot bars in 5min chart as reversal bar.

Here are some links where u can learn ABC of flow concept:

Guide & basics of Flow concept, your first gear
It is actually from 60min timeframe's point of view - but the basic idea & strategy remains the same. This should be the first place to visit & read to know all concepts & terms

Latest rules of 60min flow backup

30min Intraday Flow method - basic rules & idea of setup

LIBRARY thread for 30min Intraday Flow method involving all concepts, basic & advanced

EOD review of 30min flow trades, to understand the method practically

30min intraday flow - live discussion during trading hours; to get the real feel of the method



Personally, I am not a full-fledged trader of the flow methods, though I admire the basic concept & apply them in my trades, in a way comfortable to me.

Thanks Sunil for your help, looking at the first thread you provided, i guess, you need to track the market from 10:00 to 3:30, let me tell you what my problem is, i am not a full time trader and have a job that i need to take care off as well, moreover i don't think its a very good idea to keep staring at your screen for almost 6-7 hours a day, also my work is another task in itself, what pulled me towards this theory, i have to keep an eye on the numbers till around 11, give the broker entry and exit levels and i can continue with my day.

So, if you could guide me on something which is similar to my needs, i shall be really greatful. I dont mind if i have to start with the 60 min flow and then move on to shorter time span, but yes, sitting across the computer and tracking charts are not cup of tea. Hope i was able to explain my situation clearly.

I apologize to post something that is not relevant, but i shall delete it as soon as i get an answer from you.

Also one other question that remains unanswered, what is the best way to current day numbers for Nifty, i almost daily depend on your numbers to trade.

 

[adultvish]

Hi All,

One new feature added.

Now you can view the global market indices on my website.

Scroll to the bottom of any page in my website http://intraday.weebly.com
and you will see the world stock index movement.

Please reply or suggest how can i help more in terms of technical facility.

As i told you before also, i am software engineer and can put the human logic in computer language.

I keep on adding new feature which ever i think will be good.

Please suggest if you need any good feature that can help you.

I do not assure but will try to provide it.

Thanks,
Sohan.

thanks for sharing
very useful and nice
reps for you

 

[bandlab2]

Hi Dude, Its done now.

Now you can just enter the NSE code for any stock and click a small button. It autopupulates the high and low of previous day.

The only limitation is you need to copy the previous day nse bhavcopy into your hard drive and rename it to data.csv and save it at location C:\data.csv.
(a one time job) everyday that i think you can do before 10 am.

Also, you need to make a small security setting in IE browser which is described on my site.

Just visit http://intraday.weebly.com/automatic-calculationnse.html
and give your suggestions, how it looks now.

I hope you were expecting the same.

Thanks,
Sohan.

hi sohan,

can you describe the steps to ownloa bhavcopy and rename to data.csv ?

i tried www.nseindia.com --> Equity --> Market Today --> Bahvcopy download. this has come in excel format, there is no file --> save option. how do you save it to c:/data.csv ?

thanks

 

[Sunil]

10:15
h=2830.70
l=2810

buy=2850.90
sell=2789.80

 

[Sunil]

10:15
h=2830.70
l=2810

buy=2850.90
sell=2789.80

FINAL UPDATE:

high = 2830.7
low = 2806


BUY=2846.90
SELL=2789.80

 

[sasi0263]

When I was backtesting this system using that excel file (attached in my first post of this thread), I did these two things to keep a standard for test (strictly from Nifty's point of view):

1. For previous day's HIGH & LOW, I referred to the EOD chart.
These values are also available at NSE's home page & also in the market-watch window of trading terminal.
I simply noted down these values in the excel file

2. 9:55 to 10:15 data is not available in written format anywhere. They have to be derived from charts. So, for enable back-testing, I had to rely on high & low values in the period till 10:15 from the charts.

3. There's no doubt about the 1st time period at 10:15am. I am not sure, but I think I had misunderstood the theory part about the second time frame period. For back-testing purpose, I fixed the second time period at 10:35 (read somewhere in Dhiraj's reply).
I think that once orders are modified till 10:35am, they will remain fixed & applicable throughout the day. Even if we get new high or low after 10:35, we will not re-modify the order.
I don't know whether I am right or wrong, but I fixed 10:35 as second time interval (to note high & low) and modify orders, as per such new high or low, if there is need.


So, keeping these 3 things in mind, I had done back-testing of this method & I got very good results.
In real-time trading, I will stick to these 3 parameters & don't want to change 10:35 to any other time.
Dhiraj, I may be wrong in this understanding, but now I have become superstitious & would not like to change this mindset.

In short:
a) I refer to EOD chart for previous day's HIGH & LOW.
b) I refer to intraday chart (5min timeframe) only for high & low until 10:15 & then until 10:35.
c) Once orders are modifed / fixed at 10:35, I don't change them at all, even if new high or low is formed.

This is my understanding of the system, and I may be wrong. Dhiraj is the supreme authority, as it is his system.

Hi Sunil, applying the same stratgy, I have back tested the system for Dec-08. Which i m attaching here. Trying to continue for at least 1 year of NF

 

[jhaveri_n]

Hi Sunil, applying the same stratgy, I have back tested the system for Dec-08. Which i m attaching here. Trying to continue for at least 1 year of NF

Hi Sasi, really appreciate the hard work you have put in to back test, i have 2 questions for you.

1> At times, there are two traders executed, i am assuming that the that because either the same trade triggered twice or trades on both side were hit (either both buy/ one buy and one short), i guess Dhiraj advised against using triggers om both sides.

2> At times when the SL is hit on the first day (e.g on Dec 11) you have not traded on the second day with double the value that is 2 lots, kindly clarify that as well.

 

[bandlab2]

any body got into any trades today ?

sbi futures sell , aban futures buyl got triggered and made profit