It took me 6 months but I think I may have managed to get my AFL's accuracy rate above 60% but, all said and done, it is still in a beta phase and likely to remain so in foreseeable future.
It is bit of a scalping idea and aim is to capture the inherent momentum in the scrip
I am posting out first set of trades that are picked up thru exploration. Exploration usually comes up with 50 potentials from which I've short-listed 6-7. All are Swing trade calls.
As of now, Idea is to enter into these trades as of Friday in last half hour and carry forward the trade into profit on the momentum itself. Life-span of trade is no more than a week. In other words, I will close off all open trades by next Friday regardless of profit or loss. In 99% of the cases, all of 'em have closed on its own by Wednesday itself.
The Stop loss R:R for this strategy is 1:1 with a caveat. I know, that ideally it should be 1:2, but what can I say. Market misbehave and therefore so will I.
What I have observed that price behaves like a drunk driver who actually wanting to seek extra thrill, goes in opposite direction to gawk at a DUI check point just to count how many cops on duty are doing their jobs. But then, as if he has spotted Rajnikant in uniform, he sobers up, changes directions and goes for targets. In fact the turn around happens so fast that not once have I been able to add additional lot at S/L.
So, my modus operandi is to keep the Stop loss check point fully unmanned but just make a mental/electronic note of the breach. If Price sobers up and does its thing, Great!!. If however, it cruises little further away or seems drunk & drifting beyond recognition, its asta-la-vista time. It is bit of emotional roller-coaster time for me ...
Target is calculated using range which will remain unchanged for the week. So if you enter long at price x, target1 is x + range; target2 is x + 2*range; If target1 or 2 is touched on monday or tuesday, there is a great chance to see target 3. By wednesday, target1 is all one can hope for.
It is bit of a scalping idea and aim is to capture the inherent momentum in the scrip
I am posting out first set of trades that are picked up thru exploration. Exploration usually comes up with 50 potentials from which I've short-listed 6-7. All are Swing trade calls.
As of now, Idea is to enter into these trades as of Friday in last half hour and carry forward the trade into profit on the momentum itself. Life-span of trade is no more than a week. In other words, I will close off all open trades by next Friday regardless of profit or loss. In 99% of the cases, all of 'em have closed on its own by Wednesday itself.
The Stop loss R:R for this strategy is 1:1 with a caveat. I know, that ideally it should be 1:2, but what can I say. Market misbehave and therefore so will I.
What I have observed that price behaves like a drunk driver who actually wanting to seek extra thrill, goes in opposite direction to gawk at a DUI check point just to count how many cops on duty are doing their jobs. But then, as if he has spotted Rajnikant in uniform, he sobers up, changes directions and goes for targets. In fact the turn around happens so fast that not once have I been able to add additional lot at S/L.
So, my modus operandi is to keep the Stop loss check point fully unmanned but just make a mental/electronic note of the breach. If Price sobers up and does its thing, Great!!. If however, it cruises little further away or seems drunk & drifting beyond recognition, its asta-la-vista time. It is bit of emotional roller-coaster time for me ...
Target is calculated using range which will remain unchanged for the week. So if you enter long at price x, target1 is x + range; target2 is x + 2*range; If target1 or 2 is touched on monday or tuesday, there is a great chance to see target 3. By wednesday, target1 is all one can hope for.
Code:
[B] Swing Last
Ticker Trade Close Range Target 1 (C + R)[/B]
SAIL_F1 LONG 55.65 1.25 56.90
BHEL_F1 LONG 141.95 3.15 145.10
DLF_F1 LONG 139.75 3.08 142.84
JPASSOCIAT_F1 SHORT 37.65 1.00 36.65
TATASTEEL_F1 SHORT 289.2 6.51 282.69
RCOM_F1 SHORT 152.4 3.09 149.31
RELINFRA_F1 SHORT 392.05 7.9 384.15
Last edited: