I am Back
Thanks ST Da for your message and reopening this thread. Here are some of the developments from past few days:
1. Bank Nifty made +135 points on June 02 and lost -104 points on June 03. Other days had no trades.
2. Nifty lost -50 points on Jun 03.
I ran more backtests on this system and realized that for me to automate the entire set up, will take some time. There are a few technicalities I am looking to add - purely systematic. For example, I noted that several times in backtest, the trades were triggered at 14:30 or afterwards. With the intention of closing trades at 15:15, such trades could be avoided. I am not sure what impact on PNL it will have.
Secondly, I noted that best wins are on days when Nifty or BankNifty have literally one way movement. BankNifty saw trades going from +500-600 to +100 in minutes. Such is the nature of the beast. However, it also made 1200-1500+ points wins too. I have to automate a logic to trail the stop perhaps. Right now the system doesn't have it.
Also, there is a slightly more aggressive version of this system(which doesn't wait for confirmations) that did well in some years. If someone is managing trades manually, the aggressive levels can help. I don't intend to post those here.
Lastly, as per my promise - I will post a new thread sometime over the weekend. It should have some good takeaways for anyone looking to trade more systematically.
Cheers
Thanks ST Da for your message and reopening this thread. Here are some of the developments from past few days:
1. Bank Nifty made +135 points on June 02 and lost -104 points on June 03. Other days had no trades.
2. Nifty lost -50 points on Jun 03.
I ran more backtests on this system and realized that for me to automate the entire set up, will take some time. There are a few technicalities I am looking to add - purely systematic. For example, I noted that several times in backtest, the trades were triggered at 14:30 or afterwards. With the intention of closing trades at 15:15, such trades could be avoided. I am not sure what impact on PNL it will have.
Secondly, I noted that best wins are on days when Nifty or BankNifty have literally one way movement. BankNifty saw trades going from +500-600 to +100 in minutes. Such is the nature of the beast. However, it also made 1200-1500+ points wins too. I have to automate a logic to trail the stop perhaps. Right now the system doesn't have it.
Also, there is a slightly more aggressive version of this system(which doesn't wait for confirmations) that did well in some years. If someone is managing trades manually, the aggressive levels can help. I don't intend to post those here.
Lastly, as per my promise - I will post a new thread sometime over the weekend. It should have some good takeaways for anyone looking to trade more systematically.
Cheers