Trading NR7 setup

[AW10]

I haven't read all the posts on that thread which someone has combined in a doc, but just few posts. I think, even if DIBS may not be applicable for stocks but one can pick up few pointers from that.. and develop own strategy..

At the end, we are better of trading our own rules.. and have will have better sticking rate to them.. then following someone else's rule which we don't understand.

I like one of his suggestion for intraday breakout trading - take the trade in the direction of market today compared to yesterday's close. If mkt is in green today, then take only buy side breakout on intraday.. and opposite for short trade. .. In his observation, just this simple rule will keep us improving the result. I haven't tested it yet.. but idea is worth looking at..

Happy Trading.

 

[ag_fx]

I haven't read all the posts on that thread which someone has combined in a doc, but just few posts. I think, even if DIBS may not be applicable for stocks but one can pick up few pointers from that.. and develop own strategy..

At the end, we are better of trading our own rules.. and have will have better sticking rate to them.. then following someone else's rule which we don't understand.

I like one of his suggestion for intraday breakout trading - take the trade in the direction of market today compared to yesterday's close. If mkt is in green today, then take only buy side breakout on intraday.. and opposite for short trade. .. In his observation, just this simple rule will keep us improving the result. I haven't tested it yet.. but idea is worth looking at..

Happy Trading.

I have done a detailed research,back test and tweaks of the DIBS method. Here are some of the challenges that one might face using it on NF:

1) DIBS is used on H1 charts. All the bars are equal sized and it give Price Action a different complete picture. Our H1 charts are skewed in terms of time for each bar.

2)FX has continuous charts and thus when they trade it for London Open,US OPen, there is no problem of handling the gaps.

3)For NF, you might have to take overnight positions to actually fully utilize the potential. Which creates a problem for MM because your stops cant be trailed.As a lot of activity happens during US sessions, which affect our markets too, this might be a problem.

4)Lower Tf for NF. The only possible TF is 15 Min or lower. In which case, slippage,commissions, will take a lot of profits. Even DIBS is said to have a hit rate of 40% only and thus it is very imperative to maximise the wins and minimize the losses.

There might be other issues too which I might have missed.

Best

 

[rohangawale]

NR7 Stocks Triggered on 20th Nov:

[B]STOCK		HIGH		LOW[/B]
MARUTI		1549.5		1520.1
TATA POWER	1,327.75	1,311.00

 

[rajsumi121]

Please dont trade in stocks with nr7 system ... But in nifty future and nifty options its just awesome. ...........


Its my personal view and may be tottly wrong.

 

[VJAY]

Please dont trade in stocks with nr7 system ... But in nifty future and nifty options its just awesome. ...........


Its my personal view and may be tottly wrong.

Dear rajsumi,
Can you please share it with us ....about entry/exit and what rules you keep when nr7 day comes......(if you don't mind

 

[rajsumi121]

Vijay gee , when nr7 days comes in nifty i play in options and nifty future both . Nr7 days range are entry level for me on buying or on selling side which trigger 1st . I keep 30 points stoploss always on my positional nifty trading and 60-100 points targets . I earned very good points everytime after nr7 day .

 

[rkkarnani]

Vijay gee , when nr7 days comes in nifty i play in options and nifty future both . Nr7 days range are entry level for me on buying or on selling side which trigger 1st . I keep 30 points stoploss always on my positional nifty trading and 60-100 points targets . I earned very good points everytime after nr7 day .

Great!! Thanks for sharing your strategy. Raj, can you also let us know whether you use any 'filter" to long or short on the NR7 levels. I presume you enter the trade very next day. I have tried to analyse the strategy on paper with 3 years data, taking all NR7 bars as valid triggers but still not been able to finalise the rules. I was looking at following :
01. I Buy a call and a put at 3.28 on the day the NR7 bar is formed. Exit one of them on trigger.
02. I Buy a call or a put only when NR level on any side is triggered.
03. Enter Nifty Futures Long or Short on NR7 level trigger.
04. What should be the filter.
(Say we have a NR bar with 4998 as low and 5052 as high, what would be your level to go long or short the next day!!)
05. Reverse on breach of the NR7 reverse level. Again what filter to be used.
06. Any exit level.
07. Any reentry strategy.
08. Any use of range expansion bars?
Do elaborate a bit more on your strategy. Thanks.

- R K Karnani

 

[krishan prakash saxena]

Is there no NR 7 stock today?

 

[rohangawale]

Is there no NR 7 stock today?

From couple of days my internet connection was down, so was not able to post it.
still its not working fine. once its regular i will be posting the nr7 triggers regularly.

 

[rkkarnani]

Is there no NR 7 stock today?

As per my understanding, these stocks formed NR7 bars on 23rd Nov 2009.
Sorry a bit busy to post the levels!!
ABB
Infosys
Jindal Steel and Power
MnM
Maruti
RPower
SBI
SAIL
TATA MOTORS
TCS
UNITECH