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SwingTrader
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Post: #376  Posted: Fri Sep 27, 2013 7:53 pm Post subject: |
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| Pats wrote: |
The long trade initiated and booked profit by me was based on your PCR-based system only, but if you do not like any trades and it's results ( on your own PCR-based system ) discussed here, so be it !
It wo'nt happen again !
Thnks and bye !
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It is not a question of if I like it or not. The system I am discussing has not generated any signals yet. Your trade was based on your interpretation of an indicator you don't know much about. My point is, if you want to post your trades, you are most welcome to start your own thread. Posting your trades here based on your interpretation of the indicator I am discussing here is just going to confuse others.
I just hope you have understood what I am trying to say here 
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Srikanth Kurdukar
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SwingTrader
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| Post: #377 Posted: Sat Sep 28, 2013 9:29 pm Post subject: |
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Updated Market Breadth Chart (27.09.2013)
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Srikanth Kurdukar
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acharyams
Yellow Belt
Joined: 04 Jul 2010
Posts: 552
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| Post: #378 Posted: Sat Sep 28, 2013 9:39 pm Post subject: |
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| SwingTrader wrote: | | Updated Market Breadth Chart (27.09.2013) |
Is uptrend still continuing or changed as per your PCR analysis? |
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SwingTrader
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| Post: #379 Posted: Sat Sep 28, 2013 9:59 pm Post subject: |
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| acharyams wrote: |
Is uptrend still continuing or changed as per your PCR analysis? |
I am watching 5815 support level on NF. Until this support breaks, the uptrend is still in place. If this support breaks (on daily closing basis) I will be initiating few shorts.
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acharyams
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| Post: #380 Posted: Sat Sep 28, 2013 10:11 pm Post subject: |
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| SwingTrader wrote: | | acharyams wrote: |
Is uptrend still continuing or changed as per your PCR analysis? |
I am watching 5815 support level on NF. Until this support breaks, the uptrend is still in place. If this support breaks (on daily closing basis) I will be initiating few shorts. |
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SwingTrader
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| Post: #381 Posted: Mon Sep 30, 2013 7:30 pm Post subject: |
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Updated OTM PCR Rank & NF 60 mins chart (30.09.2013)
Bearish signal triggered! OTM PCR rank went above 50% on 23rd Sep, I was waiting for a support breakdown which happened today.
I have started my live test of OTM PCR signals from today. Just before market close I bought OCT 5900 PUT for 221.90. I will hold this put until we see a bullish OTM PCR signal OR price closing above my SL of recent high around 6174 (daily closing basis). Bullish OTM PCR signal would be OTM PCR strongly moving below 50% followed by a bullish breakout above nearby resistance. Nothing really objective here, will decide on an exit point as price moves.
These trades/signals are being posted here for educational purpose only. Nobody in their right minds should try and replicate these trades These are single lot test trades I am doing in my testing account. This is a developing system and should be treated as such.
Also, do note that price is already oversold and we could see a significant pullback. I will still be following the signals from now as I feel the OI balance has shifted significantly indicated both by OTM PCR and price itself. I will continue testing these signals with single lot trades until I am confident enough to incorporate these signals into my main trading account OR I stop using the signals and take OTM PCR back to drawing board once more.
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manojkr78
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Joined: 07 Mar 2011
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| Post: #382 Posted: Mon Sep 30, 2013 7:54 pm Post subject: |
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ST,
why did you choose NF 5815 for price breakdown and not NS, any particular reason.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
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| Post: #383 Posted: Mon Sep 30, 2013 8:11 pm Post subject: |
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| ST, I don't know whether I missed a "sell" last week when rank rose and crossed above 50%. |
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SwingTrader
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| Post: #384 Posted: Mon Sep 30, 2013 10:40 pm Post subject: |
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| manojkr78 wrote: | ST,
why did you choose NF 5815 for price breakdown and not NS, any particular reason.... |
No particular reason. I usually look at NF chart only when trading NF. But NS would have been fine too. Looking at it now I might have got an early signal but since I would anyway have to wait until near the day's close, it would have not made much difference.
But yes, I agree, looking at NS is important as many times it does give a clearer picture. This is especially true for sup/res breaks.
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Srikanth Kurdukar
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SwingTrader
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| Post: #385 Posted: Mon Sep 30, 2013 10:47 pm Post subject: |
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| vinay28 wrote: | | ST, I don't know whether I missed a "sell" last week when rank rose and crossed above 50%. |
hmm...I don't think so. Looking back at it now seems that way but if you see the history of this indicator, there are many instances when price rose above 50% only to fallback without price declines. This is the reason why I had to incorporate price breaks to confirm signals. Feb-to-Apr 2012, Jun 2012 and Oct-to-Dec 2012 were good examples of this kind of action.
I think without price confirmation there would be many whipsaws. Waiting for a price break reduces (but does not totally eliminate) many of these whipsaws.
Anyway, this is the just the start. Let us see how it goes from here...
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yashrahul
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Joined: 29 Jun 2013
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| Post: #386 Posted: Mon Sep 30, 2013 11:09 pm Post subject: |
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HELLO SWINGTRADER,SINCE YOU HAVE MENTIONED THESE LINES, "These trades/signals are being posted here for educational purpose only. Nobody in their right minds should try and replicate these trades. These are single lot test trades I am doing in my testing account. This is a developing system and should be treated as such".
SINCE THE OBJECT OF YOUR DISCUSSION IS FOR EDUCATIONAL PURPOSE ONLY,IT WOULD BE VERY NICE OF YOU IF YOU COULD GUIDE US IN A BETTER WAY,LIKE YOU DID TODAY BY MENTIONING 50% ON 23RD SEPTEMBER ETC.EVERYDAY IF POSSIBLE PLEASE WRITE A SMALL NOTE ABOUT YOUR STUDY LIKE YOU DID TODAY,YOU ARE DOING A FABULOUS JOB,THANKYOU. |
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yashrahul
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| Post: #387 Posted: Mon Sep 30, 2013 11:29 pm Post subject: |
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| DOES IT HAVE TO GO ABOVE 50% OR BELOW 50% FOR REVERSAL OF TREND OR START OF CHANGE OF TREND. |
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SwingTrader
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| Post: #388 Posted: Tue Oct 01, 2013 8:53 am Post subject: |
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| yashrahul wrote: | | DOES IT HAVE TO GO ABOVE 50% OR BELOW 50% FOR REVERSAL OF TREND OR START OF CHANGE OF TREND. |
Please use lowercase letters to post in the forum.
About 50% level. This level is important to signal the shift in OI balance. If the indicator is staying below 50% then market is in uptrend. A while after the indicator staying below 50% it suddenly goes above 50% explosively then it indicates a major shift in OI balance. This usually happens before the trend changes. This shift from "below 50%" to "above 50%" will happen when market is ready to decline or starts decline. The reverse is also true, shift from "above 50%" to "below 50%" will happen market is/has bottomed. These shifts happen because big players usually position themselves before the change of trend. Only in case of sudden unexpected major news would this shift happen at the same time as price. In all other cases it usually leads price. This is what I have observed until now.
Once this event (shift of OI balance) happens I look for price breaks to enter trades. Without a clear signal from price it is not a good idea to enter trades based on this or any indicator.
I will post a snapshot of previous shifts later today.
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yashrahul
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| Post: #389 Posted: Tue Oct 01, 2013 9:15 am Post subject: |
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| thanks |
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SwingTrader
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| Post: #390 Posted: Wed Oct 02, 2013 1:06 pm Post subject: |
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Updated OTM PCR Rank (01.10.2013)
Not much change in OTM PCR rank. Things remain bearish. I would be worried only on a price breakout above 5960.
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