Augubhai's diary and notes

[amitava roy]

Here no one efficient in trade or calculation

 

[boarders]

NF intraday trades:

1. short 5327, add 1/3 5326, exit 5236 = -12 on base
2. long 5345, exit 5329 = -16
3. short 5325,

Brokerage of 2 points per trade not deducted.

hi,

checking your trade levels, I am of the opinion that you are following some breakout/down strategy which will never work in ranged markets. for this you have to formulate a method to identify points of reversal and flat market identification, like stand alone pin bars and take it from there

 

[augubhai]

NF intraday trades:

1. short 5327, add 1/3 5326, exit 5236 = -12 on base
2. long 5345, exit 5329 = -16
3. short 5325, exit 5332 = -7

Brokerage of 2 points per trade not deducted.

 

[augubhai]

hi,

checking your trade levels, I am of the opinion that you are following some breakout/down strategy which will never work in ranged markets. for this you have to formulate a method to identify points of reversal and flat market identification, like stand alone pin bars and take it from there

hi boarders,

that is what i am struggling with - how to get this to work in ranging markets. I have been trading daily range breakouts for years now. This works wonderfully sometimes, but breaks down in ranging markets. The worse type of day for this strategy is the expanding triangle, where there are multiple fakeouts and fakedowns. Today may be such a day.

 

[augubhai]

NF intraday trades:

1. short 5327, add 1/3 5326, exit 5236 = -12 on base
2. long 5345, exit 5329 = -16
3. short 5325, exit 5332 = -7
4. long 5347,

Brokerage of 2 points per trade not deducted.

 

[Smart_trade]

NF intraday trades:

1. short 5327, add 1/3 5326, exit 5236 = -12 on base
2. long 5345, exit 5329 = -16
3. short 5325, exit 5332 = -7
4. long 5347,

Brokerage of 2 points per trade not deducted.

This market is not tradeable on the system you are trading. You are trading breakouts/breakdowns. Your stops are about 10 points which when brokerage is added, becomes 12-13 point and unless you get a move which will give you 20-22 points from the point you catch it ( meaning roughly 35-40 points from swing high/low , you will not make any money .....

If someone trades 3-4 point scalping ( out of which 2 points go in brokerage ) then it is ok to trade .....

Step back and let market open up and start giving 35-40 points one directional move.

Just my 2 cents....no attempt to make any comment on yr system...

Smart_trade

 

[boarders]

hi boarders,

that is what i am struggling with - how to get this to work in ranging markets. I have been trading daily range breakouts for years now. This works wonderfully sometimes, but breaks down in ranging markets. The worse type of day for this strategy is the expanding triangle, where there are multiple fakeouts and fakedowns. Today may be such a day.

so long as the days range (for nifty futures) is less than 40 I consider the day ranged and therefore I fade the extremes on signs of reversal there for fixed targets of 1/3 of the days range so long as this target is more than or equal to 7 points. this way the time risk and stagnation is reduced to a great extent for me. upon range breakout I do atr trails.

 

[augubhai]

NF intraday trades:

1. short 5327, add 1/3 5326, exit 5236 = -12 on base
2. long 5345, exit 5329 = -16
3. short 5325, exit 5332 = -7
4. long 5347, exit 5339 = -8

Brokerage of 2 points per trade not deducted.

 

[augubhai]

I will continue with this for a few more days, and see how it pans out. I think today is an expanding triangle day, which is the most destructive type of day for this system.

These kind of days occur every few weeks - have seen it on the charts. So why am still trading this? Because, once in a while the triangle breaks and gives a v. big move. Have also seen that on the charts.

 

[augubhai]

so long as the days range (for nifty futures) is less than 40 I consider the day ranged and therefore I fade the extremes on signs of reversal there for fixed targets of 1/3 of the days range so long as this target is more than or equal to 7 points. this way the time risk and stagnation is reduced to a great extent for me. upon range breakout I do atr trails.

What atr multiple do you use for your trails?