Patterns and Technicals

[coolboy007]

Re: Trading only one hour in a day !!!!!

kamalesh and coolboy,

let us not confuse this with any other variations. let us stick to initial post. calculate the % at 3:15pm, take the trade at 3:20 PM and close it on next day open (as early as possible)

no need to carry the position for intraday, if we do that then we can not test the actual strategy. if you want to carry, do it , but dont bring it to the tracker

once sunil collects the data for futures, then only we can get some confidence. dont get excited about what happened today. things can go against us quickly. let us build a system and stick to it without deviations

my personal view, no need to trade every day. 80-20, 90-10 are safe (until sunil proves us wrong on thursday)

I guess we take positions at 3 pm lollzz not 3:20 pm. Next point , if we wish yups we cn take the opening price of 10 am if u wish not acc to ones favourable positions.

Even if i follow this method i cn sq off at 3 om only , so i already WROTE BEFORE that its my points earned AND ALL others will differ as we dont have an exit strategy , its acc to ones wish .

 

[rkkarnani]

Re: Trading only one hour in a day !!!!!

kamalesh and coolboy,

let us not confuse this with any other variations. let us stick to initial post. calculate the % at 3:15pm, take the trade at 3:20 PM and close it on next day open (as early as possible)

no need to carry the position for intraday, if we do that then we can not test the actual strategy. if you want to carry, do it , but dont bring it to the tracker

once sunil collects the data for futures, then only we can get some confidence. dont get excited about what happened today. things can go against us quickly. let us build a system and stick to it without deviations

my personal view, no need to trade every day. 80-20, 90-10 are safe (until sunil proves us wrong on thursday)

Bandlab, Post no.2 of this thread by Kamlesh talks about keeping a SAR at +/- 14 points of the opening 5 minutes range as done in mini flow!!! So feel its not a variation of the initial strategy. In fact we are yet to finalise one!!!
And about trading every day...well you get a close within your predefined range you trade otherwise not!!! Dont think any one is considering trading daily.

 

[citrus]

Re: Trading only one hour in a day !!!!!

Hi pkamalesh,

Thanks for this intiative. Although, i am little confused w.r.t entry as % of day's range... have gone ahead to check in last few trades. Please see attached file.

Few assumptions, that i have taken, these are for the sake of simplicity in my calculations, in absence of 3PM and 10.30AM data.

1. last trade of the day is taken.

2. If close (read day's close) minus days low as compared to days high minus days low is 70% or more, Long, all other trades are Short. i.e. I have taken all trades as short where % is less than 70%.

3. I am out with first trade of the day, irrespective of whether its in profit/loss. This is so beacuse I do not want to combine this with any other method, But still it is open to an individual.

Am not that good with excel, so may be there are formula errors. Request to you and all seniors, to have a look at it.

Regards

ravalsb,
It is strange that there is not much variation in profit even if shorts are taken in the lower 50% of the range (2398.45 points) or in the lower 70% of the range (2484.70). As per your, formula most important thing is to take position daily.
Regards.

 

[pkamalesh]

Re: Trading only one hour in a day !!!!!

Kamlesh, by squaring your previous Long position and entering a NEW long position all you do is 'help' your broker!!! Why should you exit and reenter the position in the same direction!! Yes, if we have a predefined profit booking level, we exit at that level and reenter at 3 PM or at whatever time our system tells us to...however the time when our profit level is reached where we are to book profit in exisiting position coincides with the time of taking a new position, we simply continue to hold on!!!

Yes karnani sir..i meant squaring off (may be not with a predefined profit limit) but a level where the trend changes(if it does on that day) and if this happens before 3 pm we wait until 3 pm or 3.15 pm to take a position for the next day

 

[AW10]

Re: Trading only one hour in a day !!!!!

Hi pkamalesh,

Thanks for this intiative. Although, i am little confused w.r.t entry as % of day's range... have gone ahead to check in last few trades. Please see attached file.

Few assumptions, that i have taken, these are for the sake of simplicity in my calculations, in absence of 3PM and 10.30AM data.

1. last trade of the day is taken.

2. If close (read day's close) minus days low as compared to days high minus days low is 70% or more, Long, all other trades are Short. i.e. I have taken all trades as short where % is less than 70%.

3. I am out with first trade of the day, irrespective of whether its in profit/loss. This is so beacuse I do not want to combine this with any other method, But still it is open to an individual.

Am not that good with excel, so may be there are formula errors. Request to you and all seniors, to have a look at it.

Regards

Thanks ravalsb. for sharing the sheet with trades on NIFTY futures..
Hope you won't mind if I use your trade list and present the findings in different way.

Thanks again for brilliant work.. (while others are still talking.. you have done the backtesting).

Happy Trading

 

[ravalsb]

Re: Trading only one hour in a day !!!!!

Dont think you are doing it right!!! We do not automatically take a short trade where the close is not within 70% of the days range from the high, i.e. to say the close is lower than within 70% of the high!!!

We take long trade when the price closes within the 70% (70% of days range)of the high.

We take a short trade when the price closes within the 70% of the low.

The 70% mentioned is for the days range, the difference of High less Low.

Completely agree with you sir. But while testing, I had thought of taking position on daily basis, so cases where its less than 70% automatically considered short.

I will be filtering it further and checking for selected trades as per the required criteria.

Thanks for you inputs.

Regards

 

[pkamalesh]

Re: Trading only one hour in a day !!!!!

Dear ravalsb....have formulated a xcel sheet but with nifty spot values..k9icking my head but not gettignt he futures historical values..where did u get them from???i just wanna post the xcel sheet as soon as possible..

 

[ravalsb]

Re: Trading only one hour in a day !!!!!

Hope you won't mind if I use your trade list and present the findings in different way.

Thanks again for brilliant work.. (while others are still talking.. you have done the backtesting).

Happy Trading

Thanks for encouragement. would be glad if you can use this.

Regards

 

[ravalsb]

Re: Trading only one hour in a day !!!!!

Dear ravalsb....have formulated a xcel sheet but with nifty spot values..k9icking my head but not gettignt he futures historical values..where did u get them from???i just wanna post the xcel sheet as soon as possible..

Hi pkamalesh, you can get histroical data from www.nseindia.com F&O section.

Regards

 

[pkamalesh]

Re: Trading only one hour in a day !!!!!

Raval, i have marked the days with 90% or above...and from your table its evident that 8 out of 9 times with 90% or above we have had good profits...and another interesting thing(this may sound absurd) but whenever we have the % level between 85 and 89 we have had a highly volatile sessions the next day..plzz find the modified xls attached..