Patterns and Technicals

[pkamalesh]

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

Kamlesh, Thanks for taking time and replying to all my posts.
I agree we do not trade at exact 3 PM!! But Kamlesh would rather be skeptical about the highlighted portion above!!! We cannot and should not try to predict the movement after 3 PM....it could be 15/20 points or less or maybe the other way!!! Frankly nothing came to mind how to avoid trying to 'predict' the market.
Also note that the range we look at shall actually be the high and low (range) between 9.55 and 3 PM and not the entire day.
I am sure we shall be able to find some way to identify the approximate level at which we trade but feel that it may differ from person to person.
Shall post my idea if any after going through a few charts as time permits!!
Thanks and all the best once again.

Thank you so much sir...i was wondering if we could avoid the unpredicted vast movements in the last half an hour...For this we could extend the 3 pm position to 3.15 pm if we can do it without any difficulty...Last expected is the huge movement in the last 10 minutes...

 

[detrich]

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

Sir..in my point of view we will trade this method regardless of the minimal movement in the nifty....But yes..some days we get gap up's and gap down's but as i said 80% of the times we would profit from those gaps...and we cant claim that we have a system that gives only profits..so we do accept losses as well..But we would try to minimise the losses to the max limit possible....

Dear kamlesh sir,


Please refer to this series of articles which give out proper details of what you are trying to do. My advice will be not to have such a rigid view about market. A trader looks for opportunity not time. What you are telling I got a feeling that losses are unlimited and you are limiting your profits.
http://www.cisco-futures.com/dtsupportres.html

 

[pkamalesh]

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

Dear kamlesh sir,


Please refer to this series of articles which give out proper details of what you are trying to do. My advice will be not to have such a rigid view about market. A trader looks for opportunity not time. What you are telling I got a feeling that losses are unlimited and you are limiting your profits.
http://www.cisco-futures.com/dtsupportres.html

Dear detrich..its not that im havng a rigid view of the market....i wouldnt have started this thread if i dint see an opputunity here...Just think how many of us miss the huge gap up and gap down openings???My effort would be to capitalise on these...There would be no unlimited losses and limited profits..just go through the daily charts of nifty and you would see why i am stressing on the highs and lows...thanks for your valuable suggestions sir..looking forward for more..

 

[detrich]

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

Dear detrich..its not that im havng a rigid view of the market....i wouldnt have started this thread if i dint see an opputunity here...Just think how many of us miss the huge gap up and gap down openings???My effort would be to capitalise on these...There would be no unlimited losses and limited profits..just go through the daily charts of nifty and you would see why i am stressing on the highs and lows...thanks for your valuable suggestions sir..looking forward for more..

Dear Kamlesh,

What I am trying to understand from you is that do you have any method that tells you that yes a bottom or is top formed and prices cannot go beyond this on intra-day basis. Because I assure you in intra- day trading there is absoulutely nothing about tops and bottoms. The whole thing is about long term resistances and supports. Intra-day is completely different. In Intra-days it is just about trends. So beware and for rigidity i found was from the time period that you have given.

 

[pkamalesh]

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

Dear detrich...going by what you understand..i just feel that u have either not understood or misunderstood the methodology being used....Its not about forming a bottom and neither its a intraday thing...Its more of a interday thing...guess u havnt gone through the initial stages of this thread...

 

[niftychance]

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

Just have a look at the daily bar that would be formed..We can ourselfs plot a graph on a rough sheet and mark the 50% mark..we could do this with the naked eye as well if you find the calculations too complicated...

Hello Kamalesh

What you are trying to do here is exactly opposite to what day-trades do. They avoid carrying position and close out at EoD, where as you are trying to capture the difference from Close to next days Open ...

Quite exciting approach ...

I can give you 2 suggestions

1. You can try using the 'True Range' in place of range(H-L).
   True Range is the max diff between yesterday's close, and todays high, low.
   See what works better and then choose either of them.
   
2. For the direction of the trend: Just go with the direction of the 60 Mins Flow, if the method is long at 3:15, buy in 2 or 3 steps ... (effectively approximating the adjusted close)...
   With this you don't have to define any new rules for the trend ...

Btw the western markets already have options for these things (close to open difference) ...

Thanks

 

[pkamalesh]

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

Hello Kamalesh

What you are trying to do here is exactly opposite to what day-trades do. They avoid carrying position and close out at EoD, where as you are trying to capture the difference from Close to next days Open ...

Quite exciting approach ...

I can give you 2 suggestions

1. You can try using the 'True Range' in place of range(H-L).
   True Range is the max diff between yesterday's close, and todays high, low.
   See what works better and then choose either of them.
   
2. For the direction of the trend: Just go with the direction of the 60 Mins Flow, if the method is long at 3:15, buy in 2 or 3 steps ... (effectively approximating the adjusted close)...
   With this you don't have to define any new rules for the trend ...

Btw the western markets already have options for these things (close to open difference) ...

Thanks

Thanks a lot nifty chance..i was thinking the same thing....to link this up with either the 60 minutes or the 30 minutes rules..and see u have said the same thing....well i have just opened this thread..will wait for all the seniors advices and then we can decided what to do and how to approach...for now sticking to the plan and checking if it really works is the most important.....

 

[arjit]

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

Hi Kamalesh,in my view we should also consider buy and sell quantity.If the buyer are more than seller at 3:00 P.M. and the difference between high and low is less than 50%-60% than a short position at that time will be dangerous.

 

[pkamalesh]

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

Hi Kamalesh,in my view we should also consider buy and sell quantity.If the buyer are more than seller at 3:00 P.M. and the difference between high and low is less than 50%-60% than a short position at that time will be dangerous.

Yes arjit...looking into all the angles before we could frame the best set of rules for this method..Dont worry il keep track of it....just need all u guys support and inputs...

thanks

 

[Cactus]

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

Kamlesh,

.......... furnishing branchs & leaving routs........

my 2 cents on range.........

http://www.traderji.com/technical-analysis/20954-anything-about-technical-analysis-2.html#post244312