iCharts Discussions

[Just Trade]

Please find attached an excel sheet for both positional trading and intra day trading.

Positional Trading:
1.I check the month SAR on the Volume Price action sheet
For example the start point ideally will be the next day of the contract closing date. Rule is simple...Long above month SAR and short below.
2. In the JT Intra Day sheet I check the SAR level. Below this is SELL and above BUY. Also if this keeps changing every day it indicates we are trending. If it is not then we are in sideways movement.
3. How to manage the position- In the JT Intra sheet I see the Position Indicator. When this is GREEN and if I am LONG will continue to remain LONG. Will exit and go SHORT when this indicator turns RED. Now I check indicator every day at 3:25 PM before the market closes and take action accordingly.

Intra Day Trading
I check the Position Indicator. If it is RED then next day thumb rule is that we go SHORT near the indicator level SL can be 2points above the indicator level or the previous day HIGH. Whatever rule you follow we need to follow it consistently for all trades. 2 points or HIGH is ones own decision depending on their risk appetite

If the Indicator is GREEN then I go LONG next day entry and Stop same as above.

Trend Reversal Days - For example for Monday 22 March, system showed Position Indicator at 5674.78. and in RED. Hence we go short near this level or above depending where you decide to place your stop loss. SL is either 2 points above this level or high of
Friday which is 5707. .Now if we open above this level and trade above or do not break 5674 then I will go LONG with sl at low of Friday which is 5641.
The reason why Monday 22 March can be a trend reversal day is because the low made yesterday is the LOWEST this series. I look out for such opportunities. If you see I have taken a short trade on 11 March based on the same principle @ 5969 sl was high of the series @ 5990.Result is that we are 300 points down from our entry.

SO OVERALL WE CHECK
1. POSITIONAL MONTH SAR ACCORDING TO PRICE VOLUME SHEET.
2. CHECK SAR ON NEW SHEET.
3, CHECK POSITION INDICATOR ON NEW SHEET.

IF ALL THREE ARE SHOWING RED THEN ALL THREE TIME FRAMES ARE IN SINK AND WE TREND BIG TIME. OPPOSITE IS TRUE

IF ONLY 1 AND 2 ARE SAME AND 3 IS OPPOSITE THIS MEANS THAT WE MAY BE EITHER BOTTOMING OUT OR TOPPING. CONTRA TRADES TAKEN SHOULD BE EXITED QUICKLY AS THE OVERALL BIGGER TIME FRAME TREND IS STILL OPPOSITE TO THE CONTRA POSITION TAKEN.

FINALLY BD S1 Buy Above Sell Below R1 BO are levels to help in understanding support and resistance for intra day.
These levels are derived from FIB and tweaked to suit Nifty.

How these levels are derived ....I have not protected or hidden the formulas. It is there ....please find out...It cannot get more simpler than this

Once one contract is over delete the open high low close and start entering the new series levels in the same sheet.

Happy Trading

Regards

JT

For Discussions and Real Time Updates Visit http://www.icharts.in/forum/nifty-future-daily-trading-levels-t1167.html

[apka]

[pkholla]

Simple. Elegant. Powerful.

[arvind1975]

Looks very promising. Nice of you to share with us.

Thanks,
Arvind

[dtbhat]

Hi JT,

Thanks for sharing your system in detail. I have a small doubt in your excel sheet. In your intraday sheet - JT (Intra day), the formula in column G (G3) seems to be wrong. Should it not be E3-D3 instead of C3-D3. Can you please check and confirm?

regards,
dtbhat

[vinst]

[rameshraja]

Mr JT

You missed the finer point in JT Price volume sheet, the place from where people can get data for No. of contracts and Turnover. Can you give link for this ?

[satishkadam]

[Just Trade]

Sorry Sir for not replying. Did not see the posts on this thread. Satish Kadam has now posted the link.

Sincere Apologize.

Regards

JT

[Just Trade]

Hi All,

A little tweak to the system with regards to Stop and Reverse.

For both Intra & Positional I am now using the following RULES:

LONG

Example 2 April Position Indicator GREEN @ 5738.98

The previous RULE for STOP was 2 to 5 points below 5738.98 we exit

The NEW RULE I am following is SAR will be the LOW of the SIGNAL BAR on 30 Min Time Frame. (Stop and Reverse will be 30 min low which BREAKS/CROSSES POSITION INDICATOR)

For Ex. take 02 April - 5738.98 was the stop and it got broken and the LOW of that BAR was 5733. So the SAR will be placed at 5733 for our LONGS.

Stop for the Reverse Trade Initially will be the HIGH of the DAY.

I have back tested and have been using this in LIVE trading and it is working out well.

RR SIR

Many Thanks once again for teaching me. I learnt this from your posting in your thread. Time and Again you have told this and You have written the following-

"Always keep it in mind, whenever buy or sell signal is generated it should break the low of that signal bar for trade validation.."

Thank You Sir for showing the path to be a successful trader.

GOD BLESS


Regards

JT

[kingkrunal]

--

[Just Trade]

Kingkrunal

Please be informed that all discussions will be on

For Discussions and Real Time Updates Visit http://www.icharts.in/forum/nifty-future-daily-trading-levels-t1167.html

This is already requested in the first POST.

Request you to delete your post in this thread

Regards

JT

[rameshraja]

Mr JT and his Comrades

In Technical Analysis, Buy or Sell signal by any system need to be validated before trade is initiated. (whatever the time frame one follows).

For Buy signal, it need to cross the High of that Signal bar and for Sell it need to break the Low of Signal Bar for confirmation. This is called Validation process.

Once Validation is done, market tend to pullback to Signal entry Level and then trade can be initiated..

In Live Example, (in my thread) you would have seen ICICI Bank Short on Friday closing below 1000 between 11.30 to 12.00 Bar and Low of that bar was 995.45. It broke the low of that bar between 2 to 2.30PM for validation of sell signal and bounced above entry level in the last 30 minutes of trade.

You would have seen Bank India keeps underperforming after I wrote the Buy in my thread for Gann time met. The stock's underperformance for the last three days is due to Non validation of signal and failed to cross the high of 322.65 made on 02.04.2013, which happened to be Buy Signal Bar in Daily Chart.

This is the small input which I would like to give for technical traders.

Best Wishes

C T RAMESH RAJA

[Just Trade]

Many Thanks RR Sir.

Regards

JT

[Just Trade]

Dear All,

Please find attached day trading system. I have been posting these levels and all of you know how to follow this system.
You need to input the Open,High,Low and Close of the previous two days and the system will generate two sets of levels, Upper and Lower.
Take the closing price as a marker and choose which level to trade.
A buy on the Upper Level means market will trend up and a Sell on the Lower Side means market will trend down.

I have now shared three or more systems. Trust me all these will work. You only need to identify which one are you comfortable with and trade that system consistently following very strict rules which you need to formulate for yourself.

Wishing You All The Very Best

Regards

JT

Please do not discuss this system on this thread. You may discuss,criticize the same on my other thread. This way it will be easier for newcomers to access the sheet.