Patterns and Technicals
- Thread starter pkamalesh
- Start date
Re: Trading only one hour in a day !!!!!
karnani sir...as we had thought of the 10 am thing...we had to wait for 5 minutes na to watch the trend...So i presume by 10 am we were closing towards the red...Dont exactly know the time..But if its not 10 am...then we should have exited at 10 am itself with what ever losses and reenter at 3.15 pm yesterday...
karnani sir...as we had thought of the 10 am thing...we had to wait for 5 minutes na to watch the trend...So i presume by 10 am we were closing towards the red...Dont exactly know the time..But if its not 10 am...then we should have exited at 10 am itself with what ever losses and reenter at 3.15 pm yesterday...
Re: Trading only one hour in a day !!!!!
No need for Sir , Kamlesh, a simple RKK would be fine
We need to have clear picture of things as to what we are doing. Are we continuing with the position if the trend is in our favour...if Yes, when do we exit, on what basis!!! We were short yesterday , mkt opened with an adverse gap, did breach the morning high with insignificant margine of Rs.2/ or so.
Where did we exit? 11 AM bar made a low of 2826, but also has a high of 2933...we could have continued the trade till close yesterday but how do we trail our SL?
If any thing has been discussed in this regard I could not find it. Though on rethinking feel that the very purpose of this thread is lost if we continue and trail the SL. (Trade only 1 Hour a Day). My view : Rules should be so that we need to have a look at charts from 2.55 to 3.30 and from 9.55 to 10 AM next day. Total 40 minutes.
Shall be pleased to read further inputs from you and others in this regard. What does your back analysis suggest?
No need for Sir , Kamlesh, a simple RKK would be fine
We need to have clear picture of things as to what we are doing. Are we continuing with the position if the trend is in our favour...if Yes, when do we exit, on what basis!!! We were short yesterday , mkt opened with an adverse gap, did breach the morning high with insignificant margine of Rs.2/ or so.
Where did we exit? 11 AM bar made a low of 2826, but also has a high of 2933...we could have continued the trade till close yesterday but how do we trail our SL?
If any thing has been discussed in this regard I could not find it. Though on rethinking feel that the very purpose of this thread is lost if we continue and trail the SL. (Trade only 1 Hour a Day). My view : Rules should be so that we need to have a look at charts from 2.55 to 3.30 and from 9.55 to 10 AM next day. Total 40 minutes.
Shall be pleased to read further inputs from you and others in this regard. What does your back analysis suggest?
Re: Trading only one hour in a day !!!!!
Dear RK if we get a trend after GAP then why should we exit ?. may be not related to thread but in my view we can continue holding position according to miniflow but if reversal come in during the day then we will just exit ... again wait for last part of trading days to initiate new trade
My view only
Regards
Satya
No need for Sir , Kamlesh, a simple RKK would be fine
We need to have clear picture of things as to what we are doing. Are we continuing with the position if the trend is in our favour...if Yes, when do we exit, on what basis!!! We were short yesterday , mkt opened with an adverse gap, did breach the morning high with insignificant margine of Rs.2/ or so.
Where did we exit? 11 AM bar made a low of 2826, but also has a high of 2933...we could have continued the trade till close yesterday but how do we trail our SL?
If any thing has been discussed in this regard I could not find it. Though on rethinking feel that the very purpose of this thread is lost if we continue and trail the SL. (Trade only 1 Hour a Day). My view : Rules should be so that we need to have a look at charts from 2.55 to 3.30 and from 9.55 to 10 AM next day. Total 40 minutes.
Shall be pleased to read further inputs from you and others in this regard. What does your back analysis suggest?
We need to have clear picture of things as to what we are doing. Are we continuing with the position if the trend is in our favour...if Yes, when do we exit, on what basis!!! We were short yesterday , mkt opened with an adverse gap, did breach the morning high with insignificant margine of Rs.2/ or so.
Where did we exit? 11 AM bar made a low of 2826, but also has a high of 2933...we could have continued the trade till close yesterday but how do we trail our SL?
If any thing has been discussed in this regard I could not find it. Though on rethinking feel that the very purpose of this thread is lost if we continue and trail the SL. (Trade only 1 Hour a Day). My view : Rules should be so that we need to have a look at charts from 2.55 to 3.30 and from 9.55 to 10 AM next day. Total 40 minutes.
Shall be pleased to read further inputs from you and others in this regard. What does your back analysis suggest?
Dear RK if we get a trend after GAP then why should we exit ?. may be not related to thread but in my view we can continue holding position according to miniflow but if reversal come in during the day then we will just exit ... again wait for last part of trading days to initiate new trade
My view only
Regards
Satya
Re: Trading only one hour in a day !!!!!
Satya, My view : Why risk overnifgt position if at all we trade the mini flow? Both are different things but if at all we have to take pains to find out how historically the results come out. As it is I find to trade initiated at 3 and exited at 9.55 next day to be profitable in August Sep and Oct, also Nov. till date. We take position in the range of total movements till 3 PM's 30%.
May be as I am still not trading the mini flow I have this mental block to trade this position the next day.
Problem Satya as I see it it is : We are short , the mkt opens in our favour and then after first 5 minutes as per mini flow we take a trade in opposite direction and that too with 14 points filter...!!! Dont know Satya , have to give re-look to the charts.
Satya, My view : Why risk overnifgt position if at all we trade the mini flow? Both are different things but if at all we have to take pains to find out how historically the results come out. As it is I find to trade initiated at 3 and exited at 9.55 next day to be profitable in August Sep and Oct, also Nov. till date. We take position in the range of total movements till 3 PM's 30%.
May be as I am still not trading the mini flow I have this mental block to trade this position the next day.
Problem Satya as I see it it is : We are short , the mkt opens in our favour and then after first 5 minutes as per mini flow we take a trade in opposite direction and that too with 14 points filter...!!! Dont know Satya , have to give re-look to the charts.
Re: Trading only one hour in a day !!!!!
No i was not saying that ...... say we are short next day GAP down if 5 min high + filter broken then we are out next trade is at 3.15 otherwise
if GAP down and market moves down we follow 15/30 min pivot to trail stop when hit we are out and next trade is at 3.15
have not tested it but think this way we can catch most GAPS so got interested
Regards
Satya
No i was not saying that ...... say we are short next day GAP down if 5 min high + filter broken then we are out next trade is at 3.15 otherwise
if GAP down and market moves down we follow 15/30 min pivot to trail stop when hit we are out and next trade is at 3.15
have not tested it but think this way we can catch most GAPS so got interested
Regards
Satya
Re: Trading only one hour in a day !!!!!
Hai CB PK,
Can you please give some details to trade in SGM simulator.Ex.which broker giving the facility to trade in sgm/brokerages/etc
Thanks & Regards
VJAY
kammy BINGO!!!!
I initiated my Buy PE at arnd 3:10 pm. Will hold it for some time , mkts dont look good now , it was a strong sell signal at 3pm , so am holding shorts both here and sgx simulator
Am off now hav my ENG exm 2moro so padh leta hoon. enjoy.
I initiated my Buy PE at arnd 3:10 pm. Will hold it for some time , mkts dont look good now , it was a strong sell signal at 3pm , so am holding shorts both here and sgx simulator
Am off now hav my ENG exm 2moro so padh leta hoon. enjoy.
Can you please give some details to trade in SGM simulator.Ex.which broker giving the facility to trade in sgm/brokerages/etc
Thanks & Regards
VJAY
Re: Trading only one hour in a day !!!!!
I think am not allowed to give link here but here it is http://futuressimulator.sgx.if5.com/ , register and SELECT CNX nifty index for trading.
After registering , u cn read How to play though its very easy , the game gives you 200000 $ to play with , am backtesting this strategy and till now got 99563$ profit and unrealised is 34765$. You cn select quantity as 300-350 nifty as that much margin is available.
You also cn backtest the strategy or any other method , its better than those clumsy papers and pens.
I think am not allowed to give link here but here it is http://futuressimulator.sgx.if5.com/ , register and SELECT CNX nifty index for trading.
After registering , u cn read How to play though its very easy , the game gives you 200000 $ to play with , am backtesting this strategy and till now got 99563$ profit and unrealised is 34765$. You cn select quantity as 300-350 nifty as that much margin is available.
You also cn backtest the strategy or any other method , its better than those clumsy papers and pens.
Re: Trading only one hour in a day !!!!!
I am putting down the rules that I have drawn to trade this startegy myself. They suit my personality, my account and my risk tolerance limit. As each of us is different, so we need to adjust the rules to meet your requirement (sepecially money mgmt rules).
Looking foward for views from others on this..
--------------------------Strategy Rules --------
When not to trade this strategy -
1) This strategy needs to hold position overnight without and hedging. So if you can't sleep properly when having an open position then skip this strategy.
2) For 70-30 setup - Max Opening gap has been 256 pts and average gap
has been - 59.5 pts. For 90-10 setup - these numbers are 112 and 40 respectively.
So please consider if your account can afford this amount of average and max risk before deciding to use this strategy.
3) Exit this position at market open or in first few minutes. The strategy is not backtesting so far for trailing stoploss.
4) Strategy does not use any Stoploss.. So either you have to find your own method to manage risk, hedge the position or accept the risk.
Setup
1) at 3.10pm - record days HIGH and LOW ..Calculate top 30% and bottom 30% range for today assuming 70-30 range setup. (or 10% range for 90-10 range setup).
2) Record the CLOSE of 3.15 pm bar.
3) If 3.15 pm CLOSE price is in bottom 30% of day's range. Then Open short position i.e. Sell
3) If 3.15 pm CLOSE price is in top 30% of day's range. Then Open long position
Entry
1) Open the trade as per setup result, anytime during the last 10mins of the day.
Exit - Stoploss
1) for long trades, SL is at the LOW of today.
2) for Short trades, SL is at the HIGH of today.
Note - One can also use the average risk i.e. 59.5 for 70-30 setup or 40 pts for 90-10 setup.. as stoploss limit.
3) These orders need to be resubmitted as After mkt Hour order before market open tomorrow
4) If mkt opens with a gap and stoploss is not triggered, then exit the positon at mkt
Exit - Profit /Loss
1) Place the order to squareoff the position at Market open. This can be done by After mkt hr order.
2) Else, squareoff the position on market open or in first few minutes.
Money Management
1) Depends on risk tolerance limit of your trading account
2) Best practice - not to put more then 5% of your acct capital on one single trade
3) Best practice - not to Risk (difference between entry point and stoploss) more then 2% of your acct capital on one single trade
Mental /Psychological setup
1) Clarity in the underlying concept of this strategy. Know your strategy as much as possible.
2) Quick to execute the orders for entry and exit (specially exits).
3) Not to confuse your mind with other exit rules.. that are not being backtested.
Happy Trading.
I am putting down the rules that I have drawn to trade this startegy myself. They suit my personality, my account and my risk tolerance limit. As each of us is different, so we need to adjust the rules to meet your requirement (sepecially money mgmt rules).
Looking foward for views from others on this..
--------------------------Strategy Rules --------
When not to trade this strategy -
1) This strategy needs to hold position overnight without and hedging. So if you can't sleep properly when having an open position then skip this strategy.
2) For 70-30 setup - Max Opening gap has been 256 pts and average gap
has been - 59.5 pts. For 90-10 setup - these numbers are 112 and 40 respectively.
So please consider if your account can afford this amount of average and max risk before deciding to use this strategy.
3) Exit this position at market open or in first few minutes. The strategy is not backtesting so far for trailing stoploss.
4) Strategy does not use any Stoploss.. So either you have to find your own method to manage risk, hedge the position or accept the risk.
Setup
1) at 3.10pm - record days HIGH and LOW ..Calculate top 30% and bottom 30% range for today assuming 70-30 range setup. (or 10% range for 90-10 range setup).
2) Record the CLOSE of 3.15 pm bar.
3) If 3.15 pm CLOSE price is in bottom 30% of day's range. Then Open short position i.e. Sell
3) If 3.15 pm CLOSE price is in top 30% of day's range. Then Open long position
Entry
1) Open the trade as per setup result, anytime during the last 10mins of the day.
Exit - Stoploss
1) for long trades, SL is at the LOW of today.
2) for Short trades, SL is at the HIGH of today.
Note - One can also use the average risk i.e. 59.5 for 70-30 setup or 40 pts for 90-10 setup.. as stoploss limit.
3) These orders need to be resubmitted as After mkt Hour order before market open tomorrow
4) If mkt opens with a gap and stoploss is not triggered, then exit the positon at mkt
Exit - Profit /Loss
1) Place the order to squareoff the position at Market open. This can be done by After mkt hr order.
2) Else, squareoff the position on market open or in first few minutes.
Money Management
1) Depends on risk tolerance limit of your trading account
2) Best practice - not to put more then 5% of your acct capital on one single trade
3) Best practice - not to Risk (difference between entry point and stoploss) more then 2% of your acct capital on one single trade
Mental /Psychological setup
1) Clarity in the underlying concept of this strategy. Know your strategy as much as possible.
2) Quick to execute the orders for entry and exit (specially exits).
3) Not to confuse your mind with other exit rules.. that are not being backtested.
Happy Trading.
Re: Trading only one hour in a day !!!!!
AW10 ,
Sir , i usually use this formula for calculating whether to enter short or long trade:
Level at 3pm-LOD/HOD-LOD*100.
I think acc to you i should use 3:15 pm level instead of 3pm.
On SL i agree with you , me too following your startegy , fo shorts SL HOD of the day and vice versa for longs.
My broker doesnt support AMO and i come frm school at 3pm so my trades are usually different frm every1.
Right now never faced loss , yesterday also gap up would have triggered SL but then at 3pm the tide turned but someday opposite may happen. am keeping my fingers crossed. You test with Opening 5 mins Sq off and i WOULD have to use 3 pm fro sq off. Let me too see success rates.
Would keep every1 updated of my Profits and losses in the VIRTUAL account I think frm next to next monday we cn start trading the strategy if next week also goes fine.
Currently I WOULD recommend People Use the Opening minutes for SQ off of trades using the strategy.
This weeks REPORT :: Good success rate.
Kammy and others : Bro , am thinking that cant we Wait with our Open positions till 3 pm and see if trend is chaged or not , If BIG % change is there we might sq off but again that Increases risk. Opinions please , just my thoughts.....
AW10 ,
Sir , i usually use this formula for calculating whether to enter short or long trade:
Level at 3pm-LOD/HOD-LOD*100.
I think acc to you i should use 3:15 pm level instead of 3pm.
On SL i agree with you , me too following your startegy , fo shorts SL HOD of the day and vice versa for longs.
My broker doesnt support AMO and i come frm school at 3pm so my trades are usually different frm every1.
Right now never faced loss , yesterday also gap up would have triggered SL but then at 3pm the tide turned but someday opposite may happen. am keeping my fingers crossed. You test with Opening 5 mins Sq off and i WOULD have to use 3 pm fro sq off. Let me too see success rates.
Would keep every1 updated of my Profits and losses in the VIRTUAL account
I think frm next to next monday we cn start trading the strategy if next week also goes fine.Currently I WOULD recommend People Use the Opening minutes for SQ off of trades using the strategy.
This weeks REPORT :: Good success rate.
Kammy and others : Bro , am thinking that cant we Wait with our Open positions till 3 pm and see if trend is chaged or not , If BIG % change is there we might sq off but again that Increases risk. Opinions please , just my thoughts.....
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