Trading Strategies Using Technical Analysis

[SwingKing]

There is very low probability that we will close down today. Though its too early to comment, I would still say that we will end up in green today.

Tc

 

[nimish_rulz]

There is very low probability that we will close down today. Though its too early to comment, I would still say that we will end up in green today.

Tc

Any particular reasons for that? I am short nifty futures after the breach of yesterdays low should I book it?

 

[SwingKing]

Bought Hindalco Futures @ 173.9

It's a stop and reverse trade. We might have to switch positions.

Tc

Got stopped out in Hindalco. Will wait for re - entry. Not reversing the positions.

Tc

 

[saivenkat]

Bought Hindalco Futures @ 173.9

It's a stop and reverse trade. We might have to switch positions.

Tc

Update on Hindalco at 11.38 am: CMP: 172.00

 

[SwingKing]

Any particular reasons for that? I am short nifty futures after the breach of yesterdays low should I book it?

Just an educated guess. You must hold on to your beliefs. It may well be possible that I enter short trade later, if things change. As of now, no index positions.

Tc

 

[nimish_rulz]

Just an educated guess. You must hold on to your beliefs. It may well be possible that I enter short trade later, if things change. As of now, no index positions.

Tc

Keep us updated in the meantime I have put the Stop loss at 5498, volatility picks up round 12 pm. So expecting some action now.

Also Raunak sir I need your help I have created a trading system explorer formula for metastock but I am not very good with back testing do you have any experience with it? Can you back test the system and let me know if it is working properly or not? I will provide you with the details of the system if you are interested. Many thanks.

 

[SwingKing]

Keep us updated in the meantime I have put the Stop loss at 5498, volatility picks up round 12 pm. So expecting some action now.

Also Raunak sir I need your help I have created a trading system explorer formula for metastock but I am not very good with back testing do you have any experience with it? Can you back test the system and let me know if it is working properly or not? I will provide you with the details of the system if you are interested. Many thanks.

Nimish and to others,

Please address me as Raunak. It's an humble Request.

Now Nimish, coming back to your query.

I will certainly back test your system. But you need to know what I judge a system on. I don't want to disappoint you with my comments later on. I dont pay much emphasis on profitability. There is a vast difference between profitable systems and good systems. A good system has to be profitable, but a profitable system is not necessarily good. For me, the main criteria is Draw downs (in trade and end of day), profit factor, number of winning trades, time spent in markets and risk to reward. Apart from all these, I also give importance to equity curve, MAE and MFE.

So, if you need an honest analysis, I will help you with it. If you want, I can also suggest you with some improvements if the need be.

Tc

 

[alroyraj]

Today is really range bound. If you any position entered in the morning and is profitable well and good but seems the volumes have reduced. Volumes peaked by 11 and by 11:45 its below 20 ADX in many stock futures.

 

[simple_trader]

Keep us updated in the meantime I have put the Stop loss at 5498, volatility picks up round 12 pm. So expecting some action now.

Also Raunak sir I need your help I have created a trading system explorer formula for metastock but I am not very good with back testing do you have any experience with it? Can you back test the system and let me know if it is working properly or not? I will provide you with the details of the system if you are interested. Many thanks.

May be NF future will touch 5420 around today. However still one needs to follow basics for day trading regarding SL, trail SL

 

[jagankris]

May be NF future will touch 5420 around today. However still one needs to follow basics for day trading regarding SL, trail SL

IMO Nifty seems to be consolidating in the region.
I am not sure if it will break 5460 today.Volumes are less and AD/DEC at 874/472.