iCharts Discussions

[vinay28]

I have been following it and noting OHL at 9.30 regularly although I may not have traded it every day. I also don't keep my readings for more than, say, 15 days. My observation is that it is successful about 60% of the days. There have been very very few days that it has not worked at all but I am unable to find reasons except perhaps due to gap-up or down opens. On some days you notice the following

1. The target is almost reached but not exactly

2. The SL is just hit before predicted trend commences.

3. Both the up and down trend targets and SLs are hit.

4. Mininifty shows opposite trend

If you include some of the above, the success ratio may be 80%. One thing is sure, of the 60% success days, target is always exceeded.

[acharyams]

[vinay28]

Acharyams, what further elaboration is required on the info. that I have given? Nevertheles, I will try one last time with hypothetical examples

1. The target is almost reached but not exactly - if the target, say on an uptrend, was 5298, NF went only upto 5295

2. The SL is just hit before predicted trend commences. - if the SL, say on an uptrend, was 5244, NF went upto 5242 and then reversed to achieve the target

3. Both the up and down trend targets and SLs are hit. - if the target and SL, say on an initial uptrend, was 5298 and 5244, NF first triggered SL thereby changing trend to down. If for the reversed down trend the target and SL were 5219 and 5274, NF went to 5215 and then rose again to 5300 thus triggering targets and SLs for both trends

4. Mininifty shows opposite trend - this has been found on some days and reported by some ichartians

If you include some of the above, the success ratio may be 80%. One thing is sure, of the 60% success days, target is always exceeded." - it should be clear to you if you include cases under 1 to 3, success ratio of the strategy will be higher.

I forgot to mention one more possibility that has been noticed and that is, trend changed from original one since its SL was triggered and the revised trend target was achieved. I have not kept any records. so I can't give dates for such events. If you start noting down (a) OHL at 9.30am every day along with trend and its target and SL (ncluding change in trend later, if any, and its target/SL) for a few months, you will be able to see such events as well as find out success ratio.

Hope this is clear. May be someone has kept accurate records e.g. Vinst and/or Avinash who may be able to throw more light on this.

[acharyams]

[avinash02]

trnd up sl 5303.75 tg 5356




avinash

[vinst]

NF in intra up
SL 5304, tgt 5357, entry at 9:30 cmp of 5320

[WhiteSwan]

Vinst,

Is it down-trend suddenly?

Whiteswan-BLR

[avinash02]

[kamalonesanjay]

@ 9.30 minifty low 5312 open 5321 high 5328 market down stoploss 5331 target 5281

[codered]

Vinst are you alive?

[vinst]

[vinay28]

Target for reversed down trend also achieved

[galrani]

Two trades for the day. SL hit in first and 2nd made enough to cover the loss. Net Net a profitable day for first day of trading on this system.

Needless to say has got me hooked now. (Thanks to rainbow to pointing this system to me)

I have attached a log cum calc shet that I have developed for my personal use in case anyone is interested.

Cheers

Shiva

[freedom]

[acharyams]