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Seshareddy's PARSAR & Fibonacci (SPF) Trading System |
sherbaaz Yellow Belt
Joined: 27 May 2009 Posts: 543
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Post: #61 Posted: Mon Aug 03, 2009 5:39 pm Post subject: |
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RCOM closed with 5.9% gain. Importent thing to see is that PARSAR is very close to today's candle on daily basis. Although it has not breached 50% RET.
Let see where will it go from here.
Regards,
Sherbaaz
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mayurnsk Moderator
Joined: 18 Jan 2007 Posts: 216 Location: Nasik, Maharashtra
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Post: #62 Posted: Mon Aug 03, 2009 7:11 pm Post subject: |
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sherbaaz Hi
Check SPF with DMI ( ADX) and let me know your findings if any.
Regards
Mayuresh Jahagirdar
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swaroopbn White Belt
Joined: 12 Feb 2008 Posts: 39
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Post: #63 Posted: Tue Aug 04, 2009 8:31 am Post subject: |
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Beauty lies in the eye of beholder .
You folks are doing gr8. Keep up ur good work .
Rgds,
SW
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sherbaaz Yellow Belt
Joined: 27 May 2009 Posts: 543
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Post: #64 Posted: Tue Aug 04, 2009 8:53 am Post subject: |
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Hi Mayur,
I dont use DMI (ADX) and also dont know much about these tools. But will look into surely.
Regards,
Sherbaaz
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sherbaaz Yellow Belt
Joined: 27 May 2009 Posts: 543
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Post: #65 Posted: Tue Aug 04, 2009 5:32 pm Post subject: |
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Dear All,
Nifty F- SHORT trade on 30 minute TF. Some changes I have done is that I am drawing fibonacci retracements on chart only, from Point A to Point B. I still do calculate the levels. But picture is louder than words.
Details of Short trade:
PARSAR changed it dierection @ 11:00 candle indicating short opportunity. I had drawn fibonacci from new PARSAR start(candle 1) to old PARSAR end(candle2). It gave me the respective resistance(s). Please not that % would be different from calculator. If you calculate by point A & point B, fibo & would come different.
SHORT @ 61.8%RET - 4690 (as per calculator 38.2% level).
SL @ 38.2% RET - 4704 (as per calculator 61.8%)
TGT1 @ 123.6%EXP (expansion)- 4653 (unfortunately its not there in fibo retracemnt line, but one can always go back to calculator).
TGT2 @161.8% EXP- 4630 (as per calculator 61.8%)
TGT3 is not visibal on chart but it’s 4593.
Advantage of drawing fibo on chart is that you get a very clear picture in terms of RET.
At 11:00 PARSAR gave short trade opportunity. But the close of this candle is above 61.8% RET meaning it has breacehed the resistance of 61.8%RET. Next 38.2% RET was alo breached by 11:30 candle very confidently. BUT 12:00 candle, not able to closed above 23.6% RET.
I entered a short trade (limit price) at opening of 13:30 trade at 4690.Reason for puting trade at this candle was that previous candle closed below 5-EMA. I kept my SL at 23.6% RET as candle was not able to breach the level.
Exited at 4640. Making decent profit of 50 points.
Do post you comment on the above.
Regards,
Sherbaaz
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amitrajangulati White Belt
Joined: 27 Jan 2009 Posts: 56
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Post: #66 Posted: Tue Aug 04, 2009 9:01 pm Post subject: |
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Hi! Sherbaaz,
Please correct me if I am wrong ...
You are using the 5 EMA close as a filter, right? If yes, it seems like a good method as one would get whipsawed using just just the SPF trading system.
Can you think of any other filters that one could probably use.
The last 2 days, I have not been able to be online full time and therefore not been able to analyse this on a live basis.
Great stuff! Sherbaaz. Looking forward to your reply.
Thanks & regards,
Amit
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sherbaaz Yellow Belt
Joined: 27 May 2009 Posts: 543
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Post: #67 Posted: Tue Aug 04, 2009 10:01 pm Post subject: |
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Dear Amit,
It is not just EMA's but combination of tools like candlesticks, EMA's, SPF & my trading levels, I am trying to build a system.
You are right I always keep a close eye on 5,13,34 EMA's as it gives a good insight into the trade.
Another importent thing is that as and when we get indication of going long/short it (reversal) doesnt happen immediately ( for long TF's like 30 mintues and above).
Scrip and Price takes some time and most of the time it happens that SPF SL triggered. But I beleive that its because of our own error of judgement. SPF gives that direction is going to change or the current trend is continuing along with tgt's, SL. BUT it doesnt mean that it should behave exactly.
So as i am saying since beginning that SPF is very good but it will be effective once combine with other tools.
Thanks for your revert looking forward same from you.
Regards,
Sherbaaz
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sherbaaz Yellow Belt
Joined: 27 May 2009 Posts: 543
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Post: #68 Posted: Thu Aug 06, 2009 11:16 pm Post subject: NIFTY SPOT PARSAR DIRECTION |
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Dear All,
What an interesting day today was. Sharp fall out. Some are saying consolidation, some are saying NIFTY is getting back to 4300-4400 before resumimg its upward journey. Well I dont know who is right or who is wrong.
NIFTY SPOT has changed it’s PARSAR direction and for me its the most interesting thing happened today. It would going to be a good learning experience to track NIFTY SPOT now.
Time Frame: Daily
NIFTY SPOT
Tools: Candlestick analysis, EMA’s, SPF & Fibonacci RET.
SPF STRATEGY:
Point A- 4731.50
Point B- 4541.29
Short Position below: 4613.93
Stop Loss: 4658.91
Tgt1: 4496.41 (risk:reward ratio- 1:2.63).
Tgt2: 4423.77 (risk:reward ratio-1:4.74).
Tgt3: 4306.25 (risk reward ratio-1:8.14).
Candlesticks:
4th Aug'09 candle has made a bearsih harami pattern. Although not a very strong pattern, Still need to be respected adn on this day NIFTY SPOT has made the recent high.
Fibonacci (RET) Support from High to Low:
23.6%=4539.65
38.2%=4421
50%=4325.10
61.85=4229.20
Point B of PARSAR is is overlapping 23.6% FIBO SUPP.
Tgt2 is almost near to 38.2% FIBO SUPP.
I have drawn a FIBO SUPP line from PARSAR Point A to Point B it’s 261.8% is very near to 61.8% (very importent FIBO SUPP ).
If as per SPF method NIFTY SPOT start it’s downtrend these overlapping or very near FIBO SUPP’s would prove a major support to NIFTY SPOT. If broken these support major down fall.
EMA- 5,13,34
Today 5-EMA support is broken by NIFTY SPOT. It has taken good support @ 13-EMA.
Again 34-EMA is @Tgt2 & @38.2% FIBO SUPP.
Let’s track NIFTY SPOT as very interesting overlapping of various things have happened. Also let see is SPF giving a genuine SHORT signal or just a wishpaw (given of 3rd of July’09).
Do post your comment on the above.
Regards,
Sherbaaz
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amitrajangulati White Belt
Joined: 27 Jan 2009 Posts: 56
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SUNITbLL White Belt
Joined: 20 Feb 2009 Posts: 6
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Post: #70 Posted: Sun Aug 09, 2009 3:16 pm Post subject: Regarding SPF AND FIB RET ON GRAPH |
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SIR I READ YOUR POST REGARDING BUT I CANNOT UNDERSTAND THE WHICH GRAPH YOU USED THAT IS LIVE CHART OR JCHART RT AND HOW YOU CALCULATE THE FIB RET .IS THERE ANY CALCULATOR :SO KINDLY REPLY [/quote]
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sherbaaz Yellow Belt
Joined: 27 May 2009 Posts: 543
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Post: #71 Posted: Mon Aug 10, 2009 10:09 pm Post subject: Re: Regarding SPF AND FIB RET ON GRAPH |
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SUNITbLL wrote: | SIR I READ YOUR POST REGARDING BUT I CANNOT UNDERSTAND THE WHICH GRAPH YOU USED THAT IS LIVE CHART OR JCHART RT AND HOW YOU CALCULATE THE FIB RET .IS THERE ANY CALCULATOR :SO KINDLY REPLY | [/quote]
Hi,
I use J charts. For fibonacci go through some books if you want to understand it. Try and search it in www.4shared.com its a free site having some excellent books on every subject in pdf form.
Regards,
Sherbaaz
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athani White Belt
Joined: 19 Jun 2009 Posts: 6
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Post: #72 Posted: Fri Sep 25, 2009 9:07 pm Post subject: Re: Trading & Live testing |
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Dear Sherbaaz,
108 points in a day's trading is fantastic. Your performance is like a dream for new traders like myself.
I was just trying to figure out the logic behind the trade entries on 5-min NF on 30th July 09. If you can please explain :
1. In the long Trade No. 6, price actually closed at 4526 (below the SL of 4530). Still you have waited and entered into a long trade at 4534 at the next candle.
2. In your opinion, should a trader wait for the candle close before making entry? Similarly, should the trader wait for the candle close to confirm that his SL is hit? If the movement is too fast and large, waiting for candle close might increase the losses beyond what was originally planned. Please advise.
Best Regards,
Aniruddha.
sherbaaz wrote: | Live testing through trading of PSAR starategy
Product: NIFTY F-July-30-2009
Time Frame- 5 Minutes
Recently I have gone through this PSAR strategy. The most striking feature is its simplicity, as i always beleive that the more simple the system or process or strategy is the more effective it works. Thanks to Sesha and Mayur for putting it in forum for all of us.
For doing a live testing of the same I traded on the basis of this strategy in NiftyF on 5 min TF. The advantage i found is that initail SL is not very deep and it didnt hit too often (even on 5 min TF, i have backtested the same).
I have not used any other tools (including my trading levels) just followed the strategy today. I will definitely blend PSAR with my other trading tools.
I had generated total 8 trades today out of which 2 were not initiated. For the reference I have marked the same on chart with trade (short/long) and respective SL’s which had been initiated by me.
Following is the explainnation of each probable trade. I might have not waited for exact target to come but square off according to my judgement.
Trade 1
PSAR changed it direction at 9:55 candle short postion initiated at 4505, 10:00 candle with same sl 4514.75. 9:55 candle closed was below 4506.85. square off at 4476 (10:30 candle, near T2)
Profit Points: 29
u]Trade 2[/u]
PSAR changed it direction at 10:55 candle. Long position calcualted at 4492.90. But none of the candle touched the long value even once . No tadde initiated.
Profit Points: 0
Trade3
PSAR changed value at 12:25 candle I didnt initiatea short trade as it was only a dot formation and at 12:30 candle it changed direction at very next candle.
Profit Points:0
Trade4
PSAR changed at 12:30 as earlier PSAR was a dot i didt initiate the long trade here.
Profit Points: 0
Trade5
PSAR changed value at 12:40 candle. Short initiated at 12:45 candle at 4538.40. Square off at 4526 (T1)13:10 candle.
Profit Points: 12.4
Trade6
PSAR changed value at 13:30 long inititaed at 4534.75 opening of 13:45 candle. Square off at T2 4550.60 at 14:10 candle.
Profit Points: 15.85
Trade 7
PSAR changed value at 14:25 candle. Short initiated exactly at 4543.50 with a Sl of 4549 at 14:25 candle. There is a GAP DOWN opening also of the same candle. Square off at T2 4520.
Profit Points: 23.50
Trade 8
PSAR changedvalue at 14:55 candle (broken my own rule of not entering into trade after: 15:00). Long trade initiate at 4542 at 15:00 candle it didt hit exactly on 4538 but was close enough (4 ticks) to initiate the trade. Square off at 4570 15:20 candle.
Profit Points: 28
Fortunately i didnt incure any loss today using this strategy. But it doesnt not mean i will not have losses. Im trading losses are always bound to happen. How much you can keep it low in percentage terms to you profit depends on individual.
TOTAL PROFIT POINTS= 108.75
Do post your comments on the above. Request Mayur & Sesha to share their views also.
Regards,
Sherbaaz |
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sherbaaz Yellow Belt
Joined: 27 May 2009 Posts: 543
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Post: #73 Posted: Sat Sep 26, 2009 11:43 am Post subject: Re: Trading & Live testing |
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Dear Aniruddha,
Thanks for taking interest in SPF. It one of very effective strategies I have come across Although as off now I am using it with some other tools which I have mentioned in my writings also.
Today in my trading it helps me in setting the targets for my trade. Coming to you querries regarding 30th July'09 trade 6e very right in saying that i waited for candle to close to take position. In 5 min tf there is a very high probability that pirce will test the fibos as per PARSAR so wait for candle closing also its my habit as a trader to keep sl's as per candle closing although ita risky one one ith experience you will find it effective. Trading on smaller tf is alwys risk compare to higher tf.
Whether one should wait or not for candle closing for entering and exiting the trade is entirely an individual style of trading. I am an agressive trader so I do it. If you have gone through the thread on SPF its a strategy for 20 min tf where this problem is not there.
If u are new to trading I suggest you to use 20 min tf for SPF and also use either ichart levvels or pivot points it will help you to be more structured and clear as to wht is happening in price. Also use some other tools like ema which i use. As i mentioned that i use SPF for tgt setting only now a days and sl i set according to pivot and candlesticks.
Hope this will clear your doubts if you have any other question/querry do post it here would try to answer them and also chat in SB as many members are using SPF and they discuss it over there during mkt hours.
Regards,
Sherbaaz
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Thasmiq White Belt
Joined: 12 Aug 2009 Posts: 29
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Post: #74 Posted: Sun Sep 27, 2009 7:23 pm Post subject: |
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amitrajangulati wrote: | Hi! sherbaaz,
Attached is a daily chart of the non java version of icharts
And we have the daily chart (j charts version of icharts) that you have posted.
We are getting different Par Sar results for the charts ...
1) Your daily chart : Low is 4541.29
2) Non java version has still not shown a reverse
Do you have any other software like amibroker etc to check this difference.
You are right ... I do come out with unique things
But on a serious note, how do we resolve this? I was mentioning this in the SB the other day as well, where we get different results in jcharts and live charts.
Thanks & regards,
Amit |
Dear Amit,
the thing is within the indicator settings.....
j charts version of icharts is using some default settings for the parsar....and the eod chart of non java version is using some other diff. settings....
and when i altered the default settings (0.02,0.2) of non java version eod chart to (0.03,0.3) the parsar shows the same thing on both.....hope it will help u......
this was my first post in the forum....so i think that i have made a good start.....
regards
m.mohammed rafiq
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san77s White Belt
Joined: 13 Jan 2009 Posts: 41
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Post: #75 Posted: Wed Nov 04, 2009 9:07 am Post subject: |
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Hi Mayur/ Sesa Sir,
Few weeks back you had mention to post new modified SPF method. Last week Sesa Sir also mention about this in SB, but we didn't seen any new updates in this regard.
Maybe your work load delay the process. Market in down side and if you post the modified one help us to identify the trend reverse and will guide us to initiate a new position.
Thanks & Regards
S.Saravanan
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