Trading NR7 setup

[anup]

Nifty has made NR-7 and also its an Inside Bar...Lets see tomorrow!!

 

[mailsu1973]

Can anybody suggest from where I can get historical volatility chart?

 

[Biswajit Das]

trading in cash or future or options?

No Mr. I avoid totally option chakkar, I am not well qualified for this instrument. I prefer mostly cash stocks and some time take position in fut. I played today long on idea as per nr7 breakout and booked profits and on the other charting set up I shorted on this same scrips and made some points. I am surprised that this simple setup (NR7) is working very well for me since last 1/2 Months.:clap:

 

[trader15]

What is IB? Can you explain please?
Can you also suggest some good books where different types of set up is explained?

IB stands for inner bar

 

[Biswajit Das]

What is IB? Can you explain please?
Can you also suggest some good books where different types of set up is explained?

I can not suggest you any book but I can say u what is IB. Today's high is lower than previous high and today's low is greater than previous low. Shruti is most experienced with IB, he/she can explain broadly about it. Thanks.

 

[trader15]

No Mr. I avoid totally option chakkar, I am not well qualified for this instrument. I prefer mostly cash stocks and some time take position in fut. I played today long on idea as per nr7 breakout and booked profits and on the other charting set up I shorted on this same scrips and made some points. I am surprised that this simple setup (NR7) is working very well for me since last 1/2 Months.:clap:

Whats your observation. For NR7 stock, do you play intraday only or keep the stocks/future for day or two. Whats the duration in which you typically see the trend moving : 2 days/a week or more ?

And what is your observation on:

a) Does NR7 movement happens the very next day or sometimes it takes next 2/3 days to get started

b) Does Inner Bar really sureshot works

 

[Biswajit Das]

Saw nice NR7 break out in Cash for IDFC and BATA.

What is probability of breakout for NR7. Had kept most of these in watch list, and didn't see much of breakout on long/short side for most of them.

What do u think, u will trade every nr7 stocks in a single day? How idfc has given nice profit, it had broken nr7 high at early in the morning and sustained up level for a while. Who trade quickly early that is another story. But I watch the nr7 watch list from 9.15am to 10.30 am and trying to find out some IB or ID stocks and wait to see high/low trigger. Today, traders have got sufficient time to take position in bata,infy,idea,hexaware,coalindia and unionbank. How much scripts do we need to trade for a day? I think 2to3 stocks are sufficient. Please, do not follow every nr7 stocks, select 2/3 stocks and trade wisely. I wish ur good trading life! Thanks.:rofl:

 

[trader15]

What do u think, u will trade every nr7 stocks in a single day? How idfc has given nice profit, it had broken nr7 high at early in the morning and sustained up level for a while. Who trade quickly early that is another story. But I watch the nr7 watch list from 9.15am to 10.30 am and trying to find out some IB or ID stocks and wait to see high/low trigger. Today, traders have got sufficient time to take position in bata,infy,idea,hexaware,coalindia and unionbank. How much scripts do we need to trade for a day? I think 2to3 stocks are sufficient. Please, do not follow every nr7 stocks, select 2/3 stocks and trade wisely. I wish ur good trading life! Thanks.:rofl:

Whats the typical RR ratio for NR7 breakouts : 1:1.25, 1:1.5, or event more?

 

[Biswajit Das]

Whats your observation. For NR7 stock, do you play intraday only or keep the stocks/future for day or two. Whats the duration in which you typically see the trend moving : 2 days/a week or more ?

And what is your observation on:

a) Does NR7 movement happens the very next day or sometimes it takes next 2/3 days to get started

b) Does Inner Bar really sureshot works

No brother, I purely trade only for the day. U must have seen how the Indian market sometime starts itself huge gap up/down….I can’t trade more aggressively like cubt…. I never back test nr7 stocks for positional basis, it is still using only for intraday. sometime I take nr7 stocks as delivery with nominal quantity say 50 to 200 shares, but there is no any remarkable observations….
There is no any sure shot.... I have not tried much with IB setup, shruti may say u clearly......thanks

 

[Biswajit Das]

Whats the typical RR ratio for NR7 breakouts : 1:1.25, 1:1.5, or event more?

u r ready to take either loss 1 Re or profit Rs.1.25.