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

[karthik_sri]

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

Before clarifying your question of above, I use Sharekhan (Trade Tiger) & Integrated (ODIN). I couldnt able to get the tick data from ODIN for TATASTEEL today and i referred to the Intraday data of Sharekhan. I have attached the chart of Tatasteel (15min) which I have taken today. I mostly (99.99%) rely on ODIN tick data as this will exactly match with the exchange data.

If you look at the chart attached the first candle ending with time 9.29 made a high of 379.25, Low of 375.30 and closed above ATP 377.10. Our trade got fullfilled in 10.29 and we are in trade with S/L 375.30 But the price didnt move further (made a high of 379.90) and finally SL hit at 14.29pm If u look at the SL candle the candle touch the ATP and closed below ATP and hitting our SL also. The SL candle made low of 375.10 and we initiate sell order at 375.10 with SL of 378.10. Our order got fulfilled in the next candle and remaining the price went below and touched 369.15 and closed at 369.60 thus giving us a profit of Rs.5.50/-

Just to summarise
1). The first trade P/L : -3.95
2). Second trade P/L : 5.50

Nett : 1.55 (excluding brokerage)

Karthik

http://i.imgur.com/dH9bc.jpg

 

[karthik_sri]

"GAPS"

The second good strategy which gives good return after ATP. GAPS generally signals/ indicates me a short term price movement. A "GAP" in the price means the contiunity/chain between the CANDLE/BAR is lost.

When the price makes a GAP UP it indicates/signals "Price is going to go up in short term and GAP DOWN indicates/signals "Price is going to go down in short term".

How to Trade Intraday with GAP

I have posted a chart of SBIN-I (F&O) of 09.08.12. If you look at the chart, can we able to find a GAP to trade?

http://i.imgur.com/MPb2U.png

Cheers,
Karthik

 

[rangarajan]

"GAPS"


How to Trade Intraday with GAP

I have posted a chart of SBIN-I (F&O) of 09.08.12. If you look at the chart, can we able to find a GAP to trade?

http://i.imgur.com/MPb2U.png

Cheers,
Karthik

Karthik,
I am unable to c any gap in the chart u had posted.
Where is it hiding.

 

[karthik_sri]

Karthik,
I am unable to c any gap in the chart u had posted.
Where is it hiding.

To be fact there is no GAP in the chart. But how to trade Intraday?

Now check the chart which I have posted...Is there are GAP visible to take position/trade (Intraday)!

http://i.imgur.com/Ss9cW.png

I will post my strategy in the subsequent threads

Cheers,
Karthik

 

[rangarajan]

To be fact there is no GAP in the chart. But how to trade Intraday?

Now check the chart which I have posted...Is there are GAP visible to take position/trade (Intraday)!

http://i.imgur.com/Ss9cW.png

I will post my strategy in the subsequent threads

Cheers,
Karthik

Karthik,
You have posted the Historical 5min chart which is not available to everyone unless one has a specialized paid s/w where as yr ATP strategy is well within the reach of Mango people in Banana country,Free

Still,i look forward to yr Gap Strategy eagerly.

 

[kcsusha]

Dear Karthik/Rangarajan Sirs,
ATP of Nifty Futures on 16/11/12 was 5624, but closing price 5581. I dont think
there is any chance of NF touching 5624 again on 19/11/2012. In such
circumstances, what we should do? Skip trading and wait for next day?

 

[rangarajan]

Dear Karthik/Rangarajan Sirs,
ATP of Nifty Futures on 16/11/12 was 5624, but closing price 5581. I dont think
there is any chance of NF touching 5624 again on 19/11/2012. In such
circumstances, what we should do? Skip trading and wait for next day?

If i were u ,i will do that.
Not trading is also Profitable trading.

 

[karthik_sri]

Karthik,
You have posted the Historical 5min chart which is not available to everyone unless one has a specialized paid s/w where as yr ATP strategy is well within the reach of Mango people in Banana country,Free

Still,i look forward to yr Gap Strategy eagerly.

Dear RR,
Yes we should look into contineous chart for this purpose. But no need of a specialised software as we are just looking into GAPS.

Strategy

1). The chart time frame is 5 min
2). We look for GAP in the previous day closing 5 min candle and current day opening candle. (e.g: 15/11/2012 3.30pm candle & 16/11/2012 9.15am or 9.20am candle)
3). Entry: If there is a GAP down we go short on the low of the first 5 min candle & vice versa on GAP up.
4). Exit: We can come out with minimum of Rs.5/- if we trade on highly traded scrips.
5). SL: The High/Low of previous day closing candle.
6). Important point to note: No trade on opposite direction (will explain with charts for better understanding)


I will post few charts in coming days to explain in detail.

Cheers,
Karthik

 

[rangarajan]

Dear RR,
Yes we should look into contineous chart for this purpose. But no need of a specialised software as we are just looking into GAPS.

Strategy

1). The chart time frame is 5 min
2). We look for GAP in the previous day closing 5 min candle and current day opening candle. (e.g: 15/11/2012 3.30pm candle & 16/11/2012 9.15am or 9.20am candle)
3). Entry: If there is a GAP down we go short on the low of the first 5 min candle & vice versa on GAP up.
4). Exit: We can come out with minimum of Rs.5/- if we trade on highly traded scrips.
5). SL: The High/Low of previous day closing candle.

Karthik

For Gap Up or Down,Reference is closing price of yesday last 5min candle or High or Low of that candle.

 

[gurmy.]

Dear RR,
Yes we should look into contineous chart for this purpose. But no need of a specialised software as we are just looking into GAPS.

Strategy

1). The chart time frame is 5 min
2). We look for GAP in the previous day closing 5 min candle and current day opening candle. (e.g: 15/11/2012 3.30pm candle & 16/11/2012 9.15am or 9.20am candle)
3). Entry: If there is a GAP down we go short on the low of the first 5 min candle & vice versa on GAP up.
4). Exit: We can come out with minimum of Rs.5/- if we trade on highly traded scrips.
5). SL: The High/Low of previous day closing candle.
6). Important point to note: No trade on opposite direction (will explain with charts for better understanding)


I will post few charts in coming days to explain in detail.

Cheers,
Karthik

dear karthik
thanks again for another simple intraday strategy
eagerly waiting for charts
before that just a little doubt
on friday rel capital,the last 5 min candle shows the H,L, as 375.75,374.25
whereas the actual closing price is 379.6
so what reading for t he last candle are to be taken
thanks