In Search of a system that need no chart no TA/FA

[jatinderdhawan]

Dear Karthik
Thanks for showing all the patience in explaining all the nuances of the strategy.Kindly just answer the following query as well, which hopefully would be the last one from my side.
let us take an example
the ATP for the day is 100, The candle touches and has a range of 102-98 with closing at 98. we plan to go short at 98 with SL of 102. now, the next candle also touches ATP but with a range of 101-99 and closing at 99. thus, we could not enter short as it never touched 98.
So, do we now have the entry of short revised to 99 with SL of 101 or it still stays 98 with SL as 102?
Thanks

 

[karthik_sri]

Dear Karthik
Thanks for showing all the patience in explaining all the nuances of the strategy.Kindly just answer the following query as well, which hopefully would be the last one from my side.
let us take an example
the ATP for the day is 100, The candle touches and has a range of 102-98 with closing at 98. we plan to go short at 98 with SL of 102. now, the next candle also touches ATP but with a range of 101-99 and closing at 99. thus, we could not enter short as it never touched 98.
So, do we now have the entry of short revised to 99 with SL of 101 or it still stays 98 with SL as 102?
Thanks

Its better to initiate trade at 98 to avoid whipsaw since the candle has not made lower and lower...you can back test a scrip with such circumstances and u will come to know the probability.

 

[karthik_sri]

Would love to learn that as well :clap:

Sure...we will discuss this here...please wait for 2-3 days i will be moving out of station on official tour.

 

[a1b1trader]

Dear Rangarajan/karthik,
Where you finding ATP price for F&O ?i searched nse site can't get it....if you have any link please share....or you guys using cash atp price for trading in futures?

You can get ATP values of F&O from your trading terminal after market closure*, but for that you have to add ATP column in your market watch.
OR
Can get ATP (or VWAP) values using NSE site
http://www.nseindia.com/live_market...ument=FUTIDX&expiry=29NOV2012&type=-&strike=-

Check the appropriate check box, may be stock derivative in your case.Then select instrument type, symbol, expiry date and click go.
You will get various values in left hand column
Choose VWAP, and it is the ATP of the selected derivative, for the day.

* After market closure ATP is EOD ATP, however you will get real time ATP (upto that time) during market hours.

 

[jatinderdhawan]

Dear RR
kindly help me resolve the SL part of Dear Karthik's strategy
Today i paper traded Tatasteel.
The first candle of the day touched ATP with huge range of 380.25-376.20 and closed above it. the sixth candle crossed 380.25 and i would have gone long. however, it made high of day at 380.60( + 40 paise only) and then hit SL at 376.20. That means , i would have lost about 4 rs + in one SL hit. Which means, if the triggering candle is huge and one is unlucky on a given day, it could end up wiping off four days gain in one go.
Kindly advise action under such circumstances.
Thanks

 

[praveen taneja]

Sorry for interrupting but with no system you can get 100% result sometime you can be lucky and some time Jai Ram Ji KI

 

[jatinderdhawan]

Dear PT
I fully agree with you. I was just asking of a more efficient practical ways of handling such situations , like ,may be, ignoring huge candle range set ups etc from some one who has been actually trading the strategy.
thanks

 

[columbus]

Dear RR
kindly help me resolve the SL part of Dear Karthik's strategy
Today i paper traded Tatasteel.
The first candle of the day touched ATP with huge range of 380.25-376.20 and closed above it. the sixth candle crossed 380.25 and i would have gone long. however, it made high of day at 380.60( + 40 paise only) and then hit SL at 376.20. That means , i would have lost about 4 rs + in one SL hit. Which means, if the triggering candle is huge and one is unlucky on a given day, it could end up wiping off four days gain in one go.
Kindly advise action under such circumstances.
Thanks

First few candles are EMOTIONAL candles.To be frank ,the real action
starts from 9.30AM. (personal view).

 

[jatinderdhawan]

Dear RR
kindly help me resolve the SL part of Dear Karthik's strategy
Today i paper traded Tatasteel.
The first candle of the day touched ATP with huge range of 380.25-376.20 and closed above it. the sixth candle crossed 380.25 and i would have gone long. however, it made high of day at 380.60( + 40 paise only) and then hit SL at 376.20. That means , i would have lost about 4 rs + in one SL hit. Which means, if the triggering candle is huge and one is unlucky on a given day, it could end up wiping off four days gain in one go.
Kindly advise action under such circumstances.
Thanks

Dear Ranga
Any views?

 

[rangarajan]

Dear RR
kindly help me resolve the SL part of Dear Karthik's strategy
Today i paper traded Tatasteel.
The first candle of the day touched ATP with huge range of 380.25-376.20 and closed above it. the sixth candle crossed 380.25 and i would have gone long. however, it made high of day at 380.60( + 40 paise only) and then hit SL at 376.20. That means , i would have lost about 4 rs + in one SL hit. Which means, if the triggering candle is huge and one is unlucky on a given day, it could end up wiping off four days gain in one go.
Kindly advise action under such circumstances.
Thanks

ATP on EPD 15/11 377.1.
On 16/11, 9.15-9.30 candle -H 378.75,L 377.2,Cl377.5
Hence NO Trade

But,there was a Trade at 11hr tradebelow 376.8,gave meagre 40paise & triggerd at S/l 378.2 at 12hr.

There was a very profittable trade at 14.15 below 375.1 & went upto 369.2


Many times,i had observed that when ever a stock after triggering the s/l,again trades below/above the Previous Entry Level,gives Good Profit.

It was one of those 10% failure days,but u could have made it into a profitable day,had u persisted.

Yesterday,there were so many profitable trades in many stocks.
But,what to do,Whenever i Buy,price comes down & when i Sell it goes up.

Men Live (Trade) on Hopes.
So,keep it up.
Yr candle was 9-915,pre open.http://www.nseindia.com/ChartApp/install/charts/mainpage.jsp