Trading NR7 setup
- Thread starter AW10
- Start date
- Tags narrow range nr 7 nr4 option trade
- Status
NR7 Stocks close on 9th March:
Code:
[B]8-Mar 9-Mar
STOCK HIGH LOW Close Day Range Trigger[/B]
BHEL 2457.5 2421 2423.5 32 No Breakout
GRASIM 2,840.00 2,813.15 2827 31 No Breakout
HCL TECH 363.3 358 361.35 6.10 No Breakout
ICICI BANK 926.8 910 925.15 25 No Breakout
ONGC 1107.45 1098.55 1096 14 Down Break
TATA POWER 1351.8 1335 1330.65 27.00 Down Break
TATA STEEL 628 1335 614.70 11.00 Down BreakHi amit,
as per my understanding what i think is:
all stocks behave differently in every setup, strategy.
some stocks are doing very good with nr7 , but some doesnt.
so i think its better you yourself do backtesting on the stocks which ur trading regularly, so that you will get confidence on ur backtesting trades, and will be much more useful while real trading.
becuase in backtesting also it depends on our rules , so even if i give u the accuracy of stks in sink with nr7 for me, it can be exactly reverse for you, as its not just easy to listen to anybody and trade.
its your hardearned money so better spend some time and then you yourself can know how it suits u and trade.
still if u want to know my backtesting results i can share with you, but pls keep it as last option. else u can do i thing, you backtest some stocks and then we can compare the accuracy that i found and which u got.
depends on you how u have to go abt it.
i just have to paste the figures.......... doesnt matter to me much. but definately can help you by your own work.
as per my understanding what i think is:
all stocks behave differently in every setup, strategy.
some stocks are doing very good with nr7 , but some doesnt.
so i think its better you yourself do backtesting on the stocks which ur trading regularly, so that you will get confidence on ur backtesting trades, and will be much more useful while real trading.
becuase in backtesting also it depends on our rules , so even if i give u the accuracy of stks in sink with nr7 for me, it can be exactly reverse for you, as its not just easy to listen to anybody and trade.
its your hardearned money so better spend some time and then you yourself can know how it suits u and trade.
still if u want to know my backtesting results i can share with you, but pls keep it as last option. else u can do i thing, you backtest some stocks and then we can compare the accuracy that i found and which u got.
depends on you how u have to go abt it.
i just have to paste the figures.......... doesnt matter to me much. but definately can help you by your own work.
Amit, I am once again reinterating that NR7 is setup, NOT A STRATEGY.
(System has specific rules for entry/exit but Setup doesn't)
It just tells you a kind of market condition i.e. consolidation. and gives u hint to get ready for expansion in price. You can very well trade any System and benefit by trailing the stops.
If you have been already trading a intraday system then let me suggest u do this analysis..
1) list down the NR7 days from past 2/ 3 months from nifty. Note the dates.
2) make a copy of your trade journal (where u have log of your trades)
and mark the trades that are done date soon after NR7 date
3) Delete all unmarked trades and just keep trades after NR7 day.
4) Now analyse them and see who your current system behaves to this setup. What are the obserations you have etc.
If it is ok then please do share with us your observations - just for sharing purpose or to get feedback from others for improvement.
Happy Trading
(System has specific rules for entry/exit but Setup doesn't)
It just tells you a kind of market condition i.e. consolidation. and gives u hint to get ready for expansion in price. You can very well trade any System and benefit by trailing the stops.
If you have been already trading a intraday system then let me suggest u do this analysis..
1) list down the NR7 days from past 2/ 3 months from nifty. Note the dates.
2) make a copy of your trade journal (where u have log of your trades)
and mark the trades that are done date soon after NR7 date
3) Delete all unmarked trades and just keep trades after NR7 day.
4) Now analyse them and see who your current system behaves to this setup. What are the obserations you have etc.
If it is ok then please do share with us your observations - just for sharing purpose or to get feedback from others for improvement.
Happy Trading
NR7 Stock Close on 10th March:
Code:
[B]9-Mar 10-Mar
STOCK HIGH LOW Close Day Range Trigger[/B]
NIFTY 5131.8 5094.35 5116.25 45 No Breakout
ACC 1004.95 986.8 1013.5 33 Up Break
BHEL 2,448.15 2,416.302,432.45 47.00 No Breakout
JINDAL STL 698.95 686.1 682.35 30 Down Break
SUN PHARMA 1662 1630.2 1643.7 22 No Breakout
UNITECH 76.9 74.35 74.70 2.15 No BreakoutYes Enygma. Range expansion is around the corner.
We had upside break on prev day high on NIFTY today..but buying did not sustain and
market came back to the range.
Gives me the feeling of failed breakout today.
Lets see what comes tomorrow. For real expansion to develop, probably we will have to wait for market to stay out this range of 5100 to 5140 for 1 or 2 day to give us clarity of next trend.
False breakouts are quite common after such long consolidation so watch out before you jump into next breakout.
Happy Trading
We had upside break on prev day high on NIFTY today..but buying did not sustain and
market came back to the range.
Gives me the feeling of failed breakout today.
Lets see what comes tomorrow. For real expansion to develop, probably we will have to wait for market to stay out this range of 5100 to 5140 for 1 or 2 day to give us clarity of next trend.
False breakouts are quite common after such long consolidation so watch out before you jump into next breakout.
Happy Trading
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