Positional: Expecting a Black Friday or Good Friday tomorrow. Lets seee...
Intraday: A Ranging Day & i was chopped beautifully..
1) Short on break of RL, as i expected a move in Fluid. Stopped out for 5 pts.
2) Long on BOF of RL, closed with 4 pts.
3) Long on break of PDH, was expecting a cigarette pattern. Again 10 pt lost.
4) Short on BOF of PDH. Closed at SL.
Today traded a stock LUPIN - Single trade (250 lot size)- Long on BO of Initial Range. Closed when range formed with 16 pts. No further trade, as i am planning for morning trade only.
other stocks didn't interest me as were below PDC.
Intraday: A Ranging Day & i was chopped beautifully..
1) Short on break of RL, as i expected a move in Fluid. Stopped out for 5 pts.
2) Long on BOF of RL, closed with 4 pts.
3) Long on break of PDH, was expecting a cigarette pattern. Again 10 pt lost.
4) Short on BOF of PDH. Closed at SL.
Today traded a stock LUPIN - Single trade (250 lot size)- Long on BO of Initial Range. Closed when range formed with 16 pts. No further trade, as i am planning for morning trade only.
other stocks didn't interest me as were below PDC.
Deven
ReplyDeleteDuring 2008 I used to trade a BO system. It worked very well then
selection was very simple with an Amibroker scan
Stocks quoting within half of 10 day ATR of the Highest high close of last 60 days+ some volume filter
This will give you stocks with 3 month high momentum that can breakout into a new high. We can try BPB on them
If nifty is bearish this BO will not happen at all. It is an inbuilt safety mechanism
ST
Thanks ST for your help,
DeleteNow I have got good work to do this weekend !! But with this, curious to know why you left that, isn't it profitable or just wanted to focus on one thing?
just reconfirm my understanding of this scan -
1) Find out the Highest close of 60 days.
2) Find its ATR
3) Price in between 10 day ATR of that day
4) Volume filter (Can be > 500000 or Increasing/ decreasing trend as required)
Thanks,
Deven Malhotra
Post like these helps to understand about market in a better manner. These charts can be further explored to draw useful conclusion on market. Experts suggested stock futures tips are highly beneficial for the purpose of earning rich returns.
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