Patterns and Technicals
- Thread starter pkamalesh
- Start date
Re: Trading only one hour in a day !!!!!
Even i was wondering why Kamlesh was being targeted like this - he clarified in the beginning that this is just a trail-n-error sort of a method where one can punt on BTST or STBT trades...
Not much TA knowledge is required here - just hoping that the trend prevalent at the time of closing would also be prevalent during the next day's opening session. Kamlesh is experimenting with this scenario, by putting some number-crunching into it & trying to give some numerical confirmation before one can decide on any trade.
Personally, I've never given a thought to this, but with small position size, one can punt on it. (sorry for using the "punt" word, but this is what i feel is appropriate to a method where TA / stop loss method does not come into picture)...
I also remember a co-member nagendra_gb (kamlesh may not know him - he visits our Part 1 thread)... he had mentioned about this too a couple of months back, but he was not able to "quantify/qualify" his entry level & decision. I would request him to give his inputs here too....
Let's try this thing, Kamalesh.... i m game...
just that we have to fine-tune our entry & particularly exit levels too... the first 5min bar is a good idea to flag off with for our exit strategy..
we'll keep a record, not just on no. of successful/losing trades, but also on points earned/lost....
let's try it for rest of November (3 weeks with one holiday on 13th - so, 14 trading sessions)
as kamlesh already specified - this is on experiment stage - one may paper trade or use small "mini' lots
Even i was wondering why Kamlesh was being targeted like this - he clarified in the beginning that this is just a trail-n-error sort of a method where one can punt on BTST or STBT trades...
Not much TA knowledge is required here - just hoping that the trend prevalent at the time of closing would also be prevalent during the next day's opening session. Kamlesh is experimenting with this scenario, by putting some number-crunching into it & trying to give some numerical confirmation before one can decide on any trade.
Personally, I've never given a thought to this, but with small position size, one can punt on it. (sorry for using the "punt" word, but this is what i feel is appropriate to a method where TA / stop loss method does not come into picture)...
I also remember a co-member nagendra_gb (kamlesh may not know him - he visits our Part 1 thread)... he had mentioned about this too a couple of months back, but he was not able to "quantify/qualify" his entry level & decision. I would request him to give his inputs here too....
Let's try this thing, Kamalesh.... i m game...
just that we have to fine-tune our entry & particularly exit levels too... the first 5min bar is a good idea to flag off with for our exit strategy..
we'll keep a record, not just on no. of successful/losing trades, but also on points earned/lost....
let's try it for rest of November (3 weeks with one holiday on 13th - so, 14 trading sessions)
as kamlesh already specified - this is on experiment stage - one may paper trade or use small "mini' lots
Re: Trading only one hour in a day !!!!!
That would be the Bond no 3. I am Daniel Craig.
Dont know why people target others unnecessarily.
Kammy bro , plz be prepared to even take brick bats from MULTIPLE IDS , those are easily made. Just look to those who are supporting you.
Some may be angry as you may hurt their paid clients
When people like sunil sir and Aw10 have themselves come on ur thread , u shouldnt ask for more. We just hav to fine tune this metho with proper entry exit and most IMP SL.
Neways Garbage has gone to dustbin so continue with ur work bro.
That would be the Bond no 3. I am Daniel Craig.
Dont know why people target others unnecessarily.
Kammy bro , plz be prepared to even take brick bats from MULTIPLE IDS , those are easily made. Just look to those who are supporting you.
Some may be angry as you may hurt their paid clients
When people like sunil sir and Aw10 have themselves come on ur thread , u shouldnt ask for more. We just hav to fine tune this metho with proper entry exit and most IMP SL.
Neways Garbage has gone to dustbin so continue with ur work bro.
Re: Trading only one hour in a day !!!!!
cool down, coolboy...
such trades are never easy.... one can easily loose one's sleep with such trade... we r nearly trading between "today's" closing price & "tomorrow's" opening price...
and i don't need to tell u what happens in between... (U and praveen do a fine job at it)
;-)
we have no room for error, or any protection whatsoever...
even the risk:reward ratio is not favourable (actually, we dont even know what's our risk & reward)...!!!
Punt with small qty, or with ITM options...
cool down, coolboy...
such trades are never easy.... one can easily loose one's sleep with such trade... we r nearly trading between "today's" closing price & "tomorrow's" opening price...
and i don't need to tell u what happens in between... (U and praveen do a fine job at it)
;-)
we have no room for error, or any protection whatsoever...
even the risk:reward ratio is not favourable (actually, we dont even know what's our risk & reward)...!!!
Punt with small qty, or with ITM options...
Re: Trading only one hour in a day !!!!!
there have been situations where, for example, u buy at 3000. Next day it opens at 2920.
Now, what will u do - wait for 5min bar to be formed, apply room etc... u know, u r already into a loss trade...
if that 5min bar breaks down, we r out...
what if it breaks on uoside (but still far from our cost).... will u average your trade, hoping that gap will be filled...????!!!!
that's too much "I" into trades.......
I would go with the title of this thread - trade between 3pm and 10:30am....
if u r stopped out at open, u exit gracefully...
then trade remaining part of day (as u do usually, following any method u r comfy with), and wait for 3pm again, for such BTST/STBT trades....
there have been situations where, for example, u buy at 3000. Next day it opens at 2920.
Now, what will u do - wait for 5min bar to be formed, apply room etc... u know, u r already into a loss trade...
if that 5min bar breaks down, we r out...
what if it breaks on uoside (but still far from our cost).... will u average your trade, hoping that gap will be filled...????!!!!
that's too much "I" into trades.......
I would go with the title of this thread - trade between 3pm and 10:30am....
if u r stopped out at open, u exit gracefully...
then trade remaining part of day (as u do usually, following any method u r comfy with), and wait for 3pm again, for such BTST/STBT trades....
Re: Trading only one hour in a day !!!!!
Exactly sunil sir..that was what i was thinking about....Suppose based on our calculations we hve bought nifty for the next day and we have a gap up the next day..we can continue the trade using saint sir's miniflow method...but we do not reverse our position as we are alrady in profits for the day..I a case where our stops are hit..only then we reverse and cover upt he losses (and probably end up in profits)....
Exactly sunil sir..that was what i was thinking about....Suppose based on our calculations we hve bought nifty for the next day and we have a gap up the next day..we can continue the trade using saint sir's miniflow method...but we do not reverse our position as we are alrady in profits for the day..I a case where our stops are hit..only then we reverse and cover upt he losses (and probably end up in profits)....
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