Thursday, November 6, 2008

Nifty intra day trading-ORB

Todays first 15 minute range is 2921 to 2861. (Opening Range Breakout)

First trade should be on the breakout side..

On the upside 2965/2975/2990 resistance....(For higher levels see the earlier post)

On the downside 2780 likely to hold as supports..

At 10.27 AM, I am increasing the break down level to 2886.

At 10.29AM, it has broken the 2921 & a long trade initiated ..SL at 2886

At 10.51AM SL increased to 2910.

At 10.59AM increased the SL to 2920.

At 11.05AM increased the SL to 2930.

At 11.08AM..Stopped out..Now to wait for a new low & a +ve divergence in 5 minute chart..

31 comments:

Sujatha said...

if u r sitting for full time, then why can't u create one "gmail chat group" for ur followers sir, (a small(?) request from my side.

Ilango said...

Only certain times, I am free in the office and I try my hand at these blogging.

I can't do it full time.

Previous day's analysis is good enough, I guess.

giri said...

sir,

ur analysis r good. can u guide us in learning the analysis. if not pls help us in trading/investing.

giribabu

Sujatha said...

One thing v hv (who's follwoing ur blog regularly) 2 accept first, day by day ur instructions and guidlines r excellent sir.

It s very helpful for beginners like me .

u r doing ur office work, and as well as these analysis in a short time (i.e.) whenever time permits. u r so hardworking person.

i am following ur charts carefully, but not able 2 understand certain things. 2day i booked little profit in intraday, but i am very scared to take position whether it's long or short. just doing mininifty only as per suggesion and guidance.

thanks n advance for my future

Yoda said...

Sujatha,
Try to trade with the Parabolic SAR that Ilango mentioned. It's safe, you'll almost always make a profit (on trending days 30%- flat days you'll lose a little).
My mom trades on the SAR. Under stress of incomprehensible tv chatter she said, "I don't want to learn more; I just want to make money!" lol. (She's making a safe 3000/day on mininifty using SAR - happiness!:)

Rahul said...

Yoda and vanilango sir, can u'll

explain SAR a bit more , just by observing green and red dots can we take long and short positions in nifty ?

are there any other rules or indicators to watch, i mean should we wait for sometime after we see 1st red or green dot and what other indicators should we see to get the confirmation plzzz provide some more info I am a full time trader in nifty options and planning to start trading in mini nifty but very sacred to start trading in futures as i have seen many people who went in huge loss and finished their entire portfolio and capital while trading in futures, can we use SAR to trade in options ?

Rahul said...

what about stop loss , should we exit the trade when the trend reverses i mean if we are long and then we see one red dot then we exit the trade similarly for short ?

and what % profit should we expect i mean is this just trading from one dot to another i mean is this that simple its hard to bealive after seeing traders talking wedge and traingle ema dma 5 min and all other stuff i thought intra day trading is only for pros with tech knowledge and 2-3 live intra day charts running

Ilango said...

Hi.Rahul,

As it was earlier mentioned, SAR work at its best in a trending market. So you need to know , firstly, whether the market is trending up or tending down.

Presently we have been trending up since 2253 bottom and turned down for a correction(as long as we hold 2750) and nearly turned up yesterday.
If we get stuck in a small range, then it will be a sideways mkt and SAR will have many whipsaws. Even then , you can use it to buy-supports & sell-resistances.

Doing "SAR" with only green & Red dots sound simple but it has worked for beginners who have no prior knowledge of futures volatality & some having lost heavily. Their mind is clean with no prior opinions and so they are not shaken by mkt swings. They just simply follow a method, take in some losses too occasionally during whipsaws but make the big ones riding the entire green & red dots.

IN life in general, its how you use your knowledge and on many occasions how you don't use them, make you a winner.That is Keep it A s Simple as Possible.
Don't try to too hard to look for fool proof method. There isn't any.

Yoda said...

Yes, Rahul. That's all it is - buy on the green and sell on the red. Mechanical, but so lucrative!

Works out really well for those with emotional blocks to money to overcome anxiety, fear, etc to learn not to cut trades early.:)

Yoda said...

Maybe it can be combined with other indicators successfully, but I haven't been able to find any yet.

I had such anxiety over Nifty fut because I'd cleaned out my account a few times spectacularly, so I know what you mean, Rahul.:)

You'll come out a winner if you just do SAR blindly, Rahul.

eg., If you're a daytrader, you might lose -rs.1000/- from gap up/down upto 12 pm, but by 3:30 pm you'd have made about +3000 on trends so you're +2000/- overall.

Rahul said...

Thanks Yoda and Vanilango sir :)

after reading you blog and info about SAR, i have now gained some confidence i will read more on weekend and start paper trading from this Monday purely on SAR indicator for a week and then from next week i'll try it with mini nifty , thanks a lot guys i hope this turns out to be a good trading system, i know consistency is the mantra in any system

Vanilango sir i also read about your 15 min trading system the 15 min breakout

can we combine sar with this one to trade the opening or they both are totally different thing

thanks
Rahul

Sujatha said...

hi yoda

yes, i am following SAR after Mr. Ilango sir's guidance and i am slowly coming out of fear now and earning little.

If i loose something also, somehow i am manging and covered my loss in intraday.

I think fact s that, IF V R INTERESTED, THEN EVERYTHING WILL BE INTERESTED.

Rahul said...

Yoda , do we initiate the trade at the very first appearance of the
red / green dotes or we wait say for 3 dots atleast to get confirmation

u'll must be thinking these questions a bit strange but i am very exited and also a bit nervous coz lango sir has designed such a simple and easy system to trade nifty it's hard to believe ,and I can't wait to trade in nifty with SAR but tommorrow is Sunday so one more day to go

Yoda said...

Very true, Sujatha! I think Ilango's work is pure and from the heart, that's magic!:)

Rahul, start at the earliest (1st green/red dot if possible) and change direction as soon as the changed red/green dot appears. (It's very exciting to use the SAR!).

It's better not to do anything else but SAR, because you're sure to mess up. Every time I've tried to be clever (buy early/late or used other combo indicators) I've lost a lot of money, even using SAR.

Keeping it simple seems to be the best - no self-blame, no emo - pure gold. (Read analyses and listen to tv later! heh:)

Rahul said...

Hello ilnago Sir , Yoda

first of all thanks a lot Ilango sir for designing such a simple and great system, i was watching it from 9.55 till 3.30 and it worked superb :), i just followed what you said to track green red dots and look @ slow stoch and rsi and wow it did magic sirji

Yoda thanks to you too your pros and cons points about this system helped a lot

well i got few questions now for u'll

1> we got a sell signal @ 11.15 3 RED DOTS and that time i checked the Slow Stoch and also the RSI, they too suggested that markets will go down red line was above the blue line and it crossed bluse line above 80 and RSI was also touching 80, but then this turned
out to be a wipsaw and again the green dots begin

sir this was just one case but is there any way to avoid this too

or can we do this way as told in one post by you that to avoid such wipsaws we can trade only on those signals which is inline with the trend like when the trend is UP and we get green dots we buy nifty and sell it when we get red dots and again wait for green dots to appear

I think if we do this then this is a 100 % full proof system

Yoda have you tried it with this CANDELS WHITE AND BLUE with the dots it just acts like a rocket once you get a change in dots and you get a big full candle above or below the line , then you can be 200 % sure about the move i tested it 2 times today and you get sure 50 points move

ilango sir I am following your basic guidlines and from tommorrow i am starting to trade with this system, i will require your guidense in future too thanks both of you for all your help :)

Rahul said...

I more question i forgot to ask

like today we had a gap up opening

so how to trade in such gap up gap down opening

the green dots were coming from opening itself and went on till 11.15 without any red dots

do we jump on on the first instance of a green or red dot @ opening or we wait till 10.15 or 10.30 to get a confirmed trend ?

Yoda your mom must have minted a good amount today :)

thnaks

Yoda said...

lol @ minted. Hard to say because I don't ask.

But I know a few who LOST money today even after using SAR!! haha, Life!:D

Raj said...

Hi Yoda,

thanks for the info on SAR. Two questions here-
*Do we have SAR chart for Nifty Futures? Request you to share the link please, if yes.
*If not, how do we apply Nifty Spot's SAR chart signals to trade in future. The premium and the discount will be difficult to deal with if we trade with Nifty Spot's chart.

Help Please!

regards

Raj.

dany said...

its better to use nifty spot chart available relative
to nifty future, when you see a red SAR dot on a green
down candle below 20 minute line will be a superb
short, here is the SAR NS chart.

http://ichart.finance.yahoo.com/z?s=^nsei&t=1d&q=c&l=off&z=l&p=e5,e20,p&a=ss,r14

Thanks,
Dany

rksharma1091 said...

Today Nifty heading for 5400-5500 but fall would be equally severe if not sustained to 5200 .....Bulls may try hard for higher level....Reliance and LNT ..Banks are not supporting the rally ....if support comes we may even see 5700-5800 top .....after the correction jun rally may start again leading us to 7000 + MTNL=NHPC+REI AGRO~EDUCOMP^godrej prop+RIIL> etc looks good at every fall but at ur risk....rksharma1091

uday said...

hi yoda
i read ur all post and i am trading with sar but some
time singals is false results lose money please. give link
for charting which u suggest site not working condition so
give real site for me. not fake mam

navtash said...

@yoda ,

for PSAR , WHAT SHOULD BE THE TIME FRAME . 15MINUTES , 30 MINUTES , OR HOUR ?

J.R.Julius said...

@Yoda,
PSAR is good one - The specialty in this article is
combining Indicators with PSAR - More Reliable than
using PSAR alone.

J.R.Julius said...

For those who missed Reading:
http://tradeinniftyonly.blogspot.com/2008/11/educative-lucrative-sar-stop-and.html

J.R.Julius said...
This comment has been removed by the author.
vishal said...

Thanks so much for this! I haven't been this moved by a blog for a long time! You’ve got it, whatever that means in blogging. Anyway, You are definitely someone that has something to say that people need to hear. Keep up the good work. Keep on inspiring the people!

stock tips,nifty tips,commodity tips

J.R.Julius said...

FOR ORB TRADERS

Read the following two Books

Day Trading with Short term price patterns and Opening Range Breakout
By: Toby Crable

Trading the 10'O Clock Bulls
By: Geoff Bysshe

GP said...

Hi Ilango Sir

Good Morning I am Very fortunate to have a mentor like u
In your Blog I have read that we should use 34EXP mov avg for 5mt and 15 mt chart
and when i analyse it - i found it very useful - Now sir to get more
edge in my trading can u plz recommend me certain rules or guidelines to follow it or any other system to enhance the probability of the trade - Plz reply - Thanks in advance sir have a great day ahead - GIRISH

Paul said...

thanks for this post. This post makes a great point about focusing your efforts.

free stock tips,equity tips,bse,nse | Currency Tips,Forex trading Tips,Forex Pairs

Patricia Camacho said...

How economics can change. Every minute there are upgrades! Good to have them at hand.

























digital options trading

Post a Comment