Best way of day trading - 2652 theory of trading

[amar_gr]

I am also confused, I thought the short for Nifty Fut was at 2767. (based on the excel sheet calculations)

 

[dhiraj11378]

NIFTY SL TRIG ????

now but @ 2856



rahul
nifty long hit stop loss

short at 2795 around levels ( modified order )
short triggered with enhanced target achieved . nifty went to 2769 levels
buddy , today moring harsh had put a post , then again i wrote to bandlab explaining of bank nifty and since yestdy i have been writing here of the same thing . u cant shift from one factor to to other only if it has broken without giving profit .

think so u mssed it again
bandlab, sachin , hope u got it .
any other members got it ( profit in nifty )

dhiraj

 

[sasi0263]

NIFTY SL TRIG ????

now but @ 2856



rahul
nifty long hit stop loss

short at 2795 around levels ( modified order )
short triggered with enhanced target achieved . nifty went to 2769 levels
buddy , today moring harsh had put a post , then again i wrote to bandlab explaining of bank nifty and since yestdy i have been writing here of the same thing . u can shift from one factor to to other only if it has broken withou gvng profit .

think so u mssed it again
bandlab, sachin , hope u got it .
any other members got it ( profit in nifty )

dhiraj

Did not get the profit in Nifty but understood wat u said. but lookin quie different from ur first post or I would not have understood that one.


Thanks

 

[dhiraj11378]

Dhiraj i am totaly confused how u got 2795.50 ???


when i entered the new high 2832.50 it gave me 2767

today also i made loss in nifty with double quantity

i am entering the high low in the sheet not changing anything else

plzzz help

so we need to change this range thing and how we do that its not mentioned in ur rulesssss

rahul

excel sheet is used to get the first range factor

we must take the same for the entire day till it breakes and earns us a profit
why are u using excel sheet again to modify ur orders
new high - the first range will give new sell
new low + the first range will give a new buy

today range was 37 . u should have noted it , when a new high was 2732 u should have minused 37 from the new high that all buddy .
excel sheet just help u to find a range factor .

i personally dont use excel sheet
i just sit on previous day find the range difference for the the stocks which i pick up .
write all the three range values in colums.
next day just find the difference between high and low at 10.15 .
if the value is less that the first value i use the first factor range , if its more than the first factor range then i go for second and keep it constant till i earn profit breaking it .
hope u got it now atleast .
dhiraj

 

[rahul1983]

rahul

excel sheet is used to get the first range factor

we must take the same for the entire day till it breakes and earns us a profit
why are u using excel sheet again to modify ur orders
new high - the first range will give new sell
new low + the first range will give a new buy

today range was 37 . u should have noted it , when a new high was 2732 u should have minused 37 from the new high that all buddy .
excel sheet just help u to find a range factor .

i personally dont use excel sheet
i just sit on previous day find the range difference for the the stocks which i pick up .
write all the three range values in colums.
next day just find the difference between high and low at 10.15 .
if the value is less that the first value i use the first factor range , if its more than the first factor range then i go for second and keep it constant till i earn profit breaking it .
hope u got it now atleast .
dhiraj

yes dhiraj i got it , thanks for explaning it , i read ur first posts again and now i understood it ...i was making a mistake till now we were hitting the target most of the time so it went right now i got it i hope to recover the loss will go through it once again

 

[sasi0263]

Yes Dheeraj I think I got you. As per my understanding, we should keep updating the new high/ low for the 2nd Trade after SL hit( even after 10.35 till 15.15).

Suppose our first trade triggers by using factor 0.433 or 0.766(Long/Short), If it hit target in profit, will shall stop further trading. In case SL hit the new High/Low may be formed. Then for the 2nd trade in Opposite Direction we shall use 0.433 factor with enhance target. For 2nd trade in same direction, same trigger value( first trade trigger value) will be used.

For SL hit case, follow these modifications( for 2nd trade on same day) :

In case of new High, the new Short will be @ New High minus 0.433*Prev day range
& In case of new Low, the new Long will be @ New low minus 0.433*Prev day range

This way we can recover our loss in first trade, may be in little profit as per enhanced target.

Please guide me if I misunderstood.

Thanks

 

[Suraj]

rahul

excel sheet is used to get the first range factor

we must take the same for the entire day till it breakes and earns us a profit
why are u using excel sheet again to modify ur orders
new high - the first range will give new sell
new low + the first range will give a new buy

today range was 37 . u should have noted it , when a new high was 2732 u should have minused 37 from the new high that all buddy .
excel sheet just help u to find a range factor .

i personally dont use excel sheet
i just sit on previous day find the range difference for the the stocks which i pick up .
write all the three range values in colums.
next day just find the difference between high and low at 10.15 .
if the value is less that the first value i use the first factor range , if its more than the first factor range then i go for second and keep it constant till i earn profit breaking it .
hope u got it now atleast .
dhiraj

Hi Dhiraj,
I have been following up with your thread for last few days and your method is quite impressive.
However there seems to be some confusion among the members and even i have same doubts. I will just state what i understood and if its correct then i guess it will help other guys too.
You say nifty made a new high of 2832 and hence we should minus 37 from it to get a new sell level. This high of 2832 was made at around 11:30/11:35. So what i follow from this is that we keep the factor constant from morning. However as and when a new high is made we have to change the sell level ( repeating- the factor remains the same throughout). Thats how we got the second profitable trade. Vice Versa for new lows.
So even if a new high was formed at 1:00 , we should change the sell price..i hope i am correct on this.
Please comment.
My apologies if i have added to the confusion.
Suraj

 

[sachinsamani]

NIFTY SL TRIG ????

now but @ 2856



rahul
nifty long hit stop loss

short at 2795 around levels ( modified order )
short triggered with enhanced target achieved . nifty went to 2769 levels
buddy , today moring harsh had put a post , then again i wrote to bandlab explaining of bank nifty and since yestdy i have been writing here of the same thing . u cant shift from one factor to to other only if it has broken without giving profit .



think so u mssed it again
bandlab, sachin , hope u got it .
any other members got it ( profit in nifty )

dhiraj

Yes i did follow.

Rahul Post mkt hour i will explain you with example,if equired.

Sachin

 

[bandlab2]

dhiraj, i recoved my losses in bank nifty on short sell side with modified (same range) sell levels. thanks for the explanation.

but on nifty i could not do the 2nd trade since nifty crashed 20 points and there is no time for us to realize long trade i stopped out and calculate new orders. there is just a 3-4 points gap between the stoploss and new sell order

 

[dhiraj11378]

All members do read this carefully
suppose we are trading with nfty only
previus days high - low = 100 points suppose
0.4333 range factor 1f = 43 points
0.7666 range factor 2f= 76
1.35 range factor 3f = 135
this i sit and calculate on previous day .

Now on trading day
market opens at 9.55

note the high at 10.15 suppose high = 2856
low = 2821
here range is 35 points at 10.15
here 1f =43 is not broken
so my buy will be 2821+43= 2864
my sell will be 2856- 43 = 2813

now suppose a new high is made at 10.20 of 2860
then as my rule u should change the sell order at that time
sell order will be 2860- 43 = 2817 ( which was 2813 earlier )
but this is possible only if ur tracking a single stock .if u have five stocks , then doing calculations , placing orders take time so if ur tracking more than one stock , place ur buy , sell orders , before 10.35 and then just look for any high or low is made in ur stocks so that u can modify ur orders .

But here we are tracking only nifty so at 10.20 high 2860, low 2821
buy will be at 2864
sell at 2860- 43 =2817


now suppose at 11.30( this can be at 12.00 or 1.30 or 2.00 , do not go beyond 3.15 ) buy order triggers buy at 2864
goes at high of 2875 and is trading at 2860 presently
now here 43 range is broken , but no profit is made nor stop loss is hit . The trade from here can earn a profit or hit a stop loss
now here ur sell will be new high 2875 -43 = 2832
as our buy order is already triggered so we do not have to change our buy order .
Now from 2860 levels if nifty hits profit target then we must cancel oders or other side ( sell side , as the day is in profit after first trade )
now if suppose fron 2860 stop loss hits at 2836 ( buy was at 2864 - 28 , which is on percent around ) and is trading at 2835 levels
now here our highs and lows are the same 2875 and 2821
our sell order is modified to 2832 ( which was earlier 2813 starting at 10.15 ).
Now as for buyorders stop is hit we must put a buy orders again at 2864 ( low of 2821+43) as there are chances of nifty going up again.
But as stop loss is hit in first trade we must enhance our profit target to 0.8 percent both on sell side and on buy side
at this time sell will be at 2832 target 2809 levels around
buy again will be at the same price of 2864 but target will be at 2887 levels around

hope u got it now .

Why i choose time from 10.15 to 10.35

at 10.15 there is some settlement in volatility of prices
i took the range from 10.15 to 10.35 , because it gives me time for my calculations of my lists of stocks for trading , suppose i finish my orders for 5 stocks at 10.25 then have a look at the highs and lows at that time for any modified orders .
The range is same for the day till it gives u profit for the day .


This is applicable to for other two factor ranges aslo.
70 percent chances are there 0.433 range is not broken in first 15 minutes .


Now here i am explaining one rare condition that may arise
suppose high at 10.15 = 2860
low = 2805
now here range at 10.15 is 55 points
now 0.4333 range is 43 points + profit of half percent 14 point around makes it to 57 points
this suggest that 0.4333 factor is broken but not with a profit .
But as u are starting fresh here u must take 0.766 facotr for ur buy and sell values and keep the same until it breakes and gives a profit .

In other words from 10.15 to 10.35 the range difference should be stricly within 0.4333 factor range or 0.7666 range or 1.35 range . (this is given by excel sheet exactly) for a particular range to be used for trading .

Hope all cleared , i have it all in my first post clearly.
Dhiraj