Trading NR7 setup

[Cubt]

Finally i spent my whole day and completed back testing NIFTY NR7 setup for Intraday.

Back tested Date- April 1st to April 30th

Time Frame: 5 Minutes

Total no of Trades: 83

Total no of Loss trade: 54

Total no of profitable trade: 29

Total Investment: 1.15 Lacs. 500 Lots

Total Profit:115775

Profit percentage: more than 100%

Entry and Exit is as per NR7 setup, Stop Loss that i followed is already explained in my previous posts.

here's the link - back tested result for Nifty Intraday

http://www.4shared.com/file/acgLv66V/Nifty_Intraday_backtest_nr7.html

 

[Cubt]

Finally i spent my whole day and completed back testing NIFTY NR7 setup for Intraday.

Back tested Date- April 1st to April 30th

Time Frame: 5 Minutes

Total no of Trades: 83

Total no of Loss trade: 54

Total no of profitable trade: 29

Total Investment: 1.15 Lacs. 500 Lots

Total Profit:115775

Profit percentage: more than 100%

Entry and Exit is as per NR7 setup, Stop Loss that i followed is already explained in my previous posts.

here's the link - back tested result for Nifty Intraday

http://www.4shared.com/file/acgLv66V/Nifty_Intraday_backtest_nr7.html

Am still working on to shorten the loss trades. Total profits came from those 20% profitables trades. If can add some indicators filter out the maximum profitable trades, then the returns are more than 150%

Have to try back testing the same setup with 10 minutes Time Frame.

Did anyone else tried back testing Nifty Intraday?

 

[khiladi786]

I am facing problems in dealing with false breakouts. Sun pharma rose above the buy trigger price few days ago, rose a little, but has been on decline since then.

 

[nk_5]

I am facing problems in dealing with false breakouts. Sun pharma rose above the buy trigger price few days ago, rose a little, but has been on decline since then.

this setup generally fails in such market conditions as you are thrown all over during trade.
the ideal days are when the market is either in an uptrend or in a clear downtrend. whipsaw markets kill NR7 ( of course thats my personal view ) from my experience during the past few days.
Except for HCL and TCS the other day, I am getting stopped out almost daily. luckily for me, my stops are extremely strict.

its more to do with the physiology, i am tending to buy less and short more...

 

[khiladi786]

this setup generally fails in such market conditions as you are thrown all over during trade.
the ideal days are when the market is either in an uptrend or in a clear downtrend. whipsaw markets kill NR7 ( of course thats my personal view ) from my experience during the past few days.
Except for HCL and TCS the other day, I am getting stopped out almost daily. luckily for me, my stops are extremely strict.

its more to do with the physiology, i am tending to buy less and short more...

Completely agree with you. Today in heromotorcp, nr7 breakout was at 1700. It crossed it, went up 1-2%, came down to 1680 levels, then rose again above 1700.

 

[mastermind007]

I am facing problems in dealing with false breakouts. Sun pharma rose above the buy trigger price few days ago, rose a little, but has been on decline since then.

Hmmmm ... Another name for them is "bull traps" and "bear traps"

 

[DataRam]

Biswajit, What other Indicators do you suggest to use?

If one trades NR7 through Daily Charts then use of Weekly Pivot , Support & Resistance levels can really be very helpful in determining the current price situation. Ability of the Price to break or not been able to break these levels can be used very effectively as filters to confirm the signal in a particular direction.
Even Daily Pivot , S & R levels play their role quite effectively.

 

[khiladi786]

If one trades NR7 through Daily Charts then use of Weekly Pivot , Support & Resistance levels can really be very helpful in determining the current price situation. Ability of the Price to break or not been able to break these levels can be used very effectively as filters to confirm the signal in a particular direction.
Even Daily Pivot , S & R levels play their role quite effectively.

Could you kindly share an illustration of the same. It would help us implement nr7 effectively.

Regards

 

[rkkarnani]

Finally i spent my whole day and completed back testing NIFTY NR7 setup for Intraday.

Back tested Date- April 1st to April 30th

Time Frame: 5 Minutes

Total no of Trades: 83

Total no of Loss trade: 54

Total no of profitable trade: 29

Total Investment: 1.15 Lacs. 500 Lots

Total Profit:115775

Profit percentage: more than 100%

Entry and Exit is as per NR7 setup, Stop Loss that i followed is already explained in my previous posts.

here's the link - back tested result for Nifty Intraday

http://www.4shared.com/file/acgLv66V/Nifty_Intraday_backtest_nr7.html

It seems you have taken the Nifty Spot value to analyse! Results may differ in Nifty Futres. Maybe even better the Spot results ! Just my view !

 

[MurAtt]

I forwarded this to a friend of mine who is going ga ga over Narrow Range.

And he wrote back to me in this manner.

Below is the response Cubt.

Cannot dedicate so much time to go through back tests. But had a look and he has not taken into account brokerage and slippages. For example his first row indicates loss of 4.3 points. He multiplies this as 500 (lot) * 4.3 = 2100 Rs. He fails to take into account that 2-3 point difference one can easily get on entry and again 2-3 points on Exit and remaining 2-3 point are for brokerage,stt etc. So the 4.3 point is actually 12-14 point loss. This makes the 2100 Rs loss actually to be 6000 - 7000.

Good luck to the author. Above mentioned is enough for smart traders to know what will happen in future. Someone needs to give him a reality check

Finally i spent my whole day and completed back testing NIFTY NR7 setup for Intraday.

Back tested Date- April 1st to April 30th

Time Frame: 5 Minutes

Total no of Trades: 83

Total no of Loss trade: 54

Total no of profitable trade: 29

Total Investment: 1.15 Lacs. 500 Lots

Total Profit:115775

Profit percentage: more than 100%

Entry and Exit is as per NR7 setup, Stop Loss that i followed is already explained in my previous posts.

here's the link - back tested result for Nifty Intraday

http://www.4shared.com/file/acgLv66V/Nifty_Intraday_backtest_nr7.html