Trading NR7 setup
- Thread starter AW10
- Start date
- Tags narrow range nr 7 nr4 option trade
- Status
I was working on NR7 set up for last 2-3 weeks. It seems to be working well and good for day trading. I yet to trade in real.
I filtered stocks which fall on NR7 day based on LTP, Volume (last). On an average daily we get 200+ scrips on NR7. Since I was looking for day trading, so this filter. At first, I filtered scrips above 100 and its volume above 10 lakh. But filter record were very few. So finally 50 and 5 lakh
Stock price > Rs. 50/-
Volume > 500000 (5 lakh)
I tested manually from Oct 15 - Nov 2 (NR7 trigger date)
Setup is same as AW10 said, but stop loss @ 1% not @ high/low of NR7 day. Because, almost all the time high/low of NR7 day is more than 1%. I don't wanna take risk more than 1%, so this change.
Please find the snap for statistics for this 13 trading session.
Profit/Loss are in 100s. For calculation, I assumed position/trade worth Rs. 10000/-.
As AW suggested trail with stop loss, there is no target. As our stop loss is @ 1%, trail as the stock moves by .5%. For every .5% move we trail with stop loss by .5%.
Booked profit in 165 positions. In that, 5 of 'em were above 5% including two positions above 10% (12% and 15%)
On an average we are taking 20 positions every day i.e. we need to watch 20 scrips. I don't know how far this will workout in practical. Watching more than 10 stocks and entering when our call triggers and trailing with stop loss seems to be tough.
And another issue, there should be some scrips which fall on category/group B or C or D. This matters for traders who trade using margin borrowed from broker.
If you guys got any idea how to execute this without much difficulty, please share your views. We can workout and tune this setup better.
I filtered stocks which fall on NR7 day based on LTP, Volume (last). On an average daily we get 200+ scrips on NR7. Since I was looking for day trading, so this filter. At first, I filtered scrips above 100 and its volume above 10 lakh. But filter record were very few. So finally 50 and 5 lakh
Stock price > Rs. 50/-
Volume > 500000 (5 lakh)
I tested manually from Oct 15 - Nov 2 (NR7 trigger date)
Setup is same as AW10 said, but stop loss @ 1% not @ high/low of NR7 day. Because, almost all the time high/low of NR7 day is more than 1%. I don't wanna take risk more than 1%, so this change.
Please find the snap for statistics for this 13 trading session.
Profit/Loss are in 100s. For calculation, I assumed position/trade worth Rs. 10000/-.
As AW suggested trail with stop loss, there is no target. As our stop loss is @ 1%, trail as the stock moves by .5%. For every .5% move we trail with stop loss by .5%.
Booked profit in 165 positions. In that, 5 of 'em were above 5% including two positions above 10% (12% and 15%)
On an average we are taking 20 positions every day i.e. we need to watch 20 scrips. I don't know how far this will workout in practical. Watching more than 10 stocks and entering when our call triggers and trailing with stop loss seems to be tough.
And another issue, there should be some scrips which fall on category/group B or C or D. This matters for traders who trade using margin borrowed from broker.
If you guys got any idea how to execute this without much difficulty, please share your views. We can workout and tune this setup better.
I was working on NR7 set up for last 2-3 weeks. It seems to be working well and good for day trading. I yet to trade in real.
I filtered stocks which fall on NR7 day based on LTP, Volume (last). On an average daily we get 200+ scrips on NR7. Since I was looking for day trading, so this filter. At first, I filtered scrips above 100 and its volume above 10 lakh. But filter record were very few. So finally 50 and 5 lakh
Stock price > Rs. 50/-
Volume > 500000 (5 lakh)
I tested manually from Oct 15 - Nov 2 (NR7 trigger date)
Setup is same as AW10 said, but stop loss @ 1% not @ high/low of NR7 day. Because, almost all the time high/low of NR7 day is more than 1%. I don't wanna take risk more than 1%, so this change.
Please find the snap for statistics for this 13 trading session.
Profit/Loss are in 100s. For calculation, I assumed position/trade worth Rs. 10000/-.
As AW suggested trail with stop loss, there is no target. As our stop loss is @ 1%, trail as the stock moves by .5%. For every .5% move we trail with stop loss by .5%.
Booked profit in 165 positions. In that, 5 of 'em were above 5% including two positions above 10% (12% and 15%)
On an average we are taking 20 positions every day i.e. we need to watch 20 scrips. I don't know how far this will workout in practical. Watching more than 10 stocks and entering when our call triggers and trailing with stop loss seems to be tough.
And another issue, there should be some scrips which fall on category/group B or C or D. This matters for traders who trade using margin borrowed from broker.
If you guys got any idea how to execute this without much difficulty, please share your views. We can workout and tune this setup better.
I filtered stocks which fall on NR7 day based on LTP, Volume (last). On an average daily we get 200+ scrips on NR7. Since I was looking for day trading, so this filter. At first, I filtered scrips above 100 and its volume above 10 lakh. But filter record were very few. So finally 50 and 5 lakh
Stock price > Rs. 50/-
Volume > 500000 (5 lakh)
I tested manually from Oct 15 - Nov 2 (NR7 trigger date)
Setup is same as AW10 said, but stop loss @ 1% not @ high/low of NR7 day. Because, almost all the time high/low of NR7 day is more than 1%. I don't wanna take risk more than 1%, so this change.
Please find the snap for statistics for this 13 trading session.
Profit/Loss are in 100s. For calculation, I assumed position/trade worth Rs. 10000/-.
As AW suggested trail with stop loss, there is no target. As our stop loss is @ 1%, trail as the stock moves by .5%. For every .5% move we trail with stop loss by .5%.
Booked profit in 165 positions. In that, 5 of 'em were above 5% including two positions above 10% (12% and 15%)
On an average we are taking 20 positions every day i.e. we need to watch 20 scrips. I don't know how far this will workout in practical. Watching more than 10 stocks and entering when our call triggers and trailing with stop loss seems to be tough.
And another issue, there should be some scrips which fall on category/group B or C or D. This matters for traders who trade using margin borrowed from broker.
If you guys got any idea how to execute this without much difficulty, please share your views. We can workout and tune this setup better.
I think category A and B are okay. Not sure of the other two, Anyways they would not clear the volume hurdle.
Yeah, NSE categorized scrips on three groups. But brokers have categorized more than that. And it differs from broker to broker.
Filtering by last volume is fine. But 100 day avg volume
... We can find a way to do this...
Do anyone know where (in nseindia.com) we can find the list of scrips with its category?
Filtering by last volume is fine. But 100 day avg volume
... We can find a way to do this...Do anyone know where (in nseindia.com) we can find the list of scrips with its category?
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| K | Amibroker AFL to Tradingview Indicator | Software | 0 | |
| P | afl coding help required for nr7 trading | Algo & Automated Trading | 1 | |
|
Is anyone using NR7 for trading? | Technical Analysis | 28 | |
| B | NR7 Trading help | Advanced Trading Strategies | 6 | |
| J | Trading Straddles using NR7 setup | Options | 5 |