I am a (BN Options) trader, mostly intraday or swing trader, trading based on indicators (Parabolic Sar,Rsi etc.). Overall Average losses only. Most of the time SL hits or early exit without taking much profit. What time frame is suitable for my trading style? (till now was trading in 1 minute time frame)
I am assuming you buy an Option when the indicator on the 1 min time frame gives a buy signal and vice-versa for selling. Is that correct ?
@alphaT @trader_dude @sekhar916 Yes correct. One minute time frame I was using all this time. What is the best time frame for BN Options trading (Intraday & swing)?
There is no correct answer to the question “What is the best timeframe for trading?”.
Looking at your responses. i can tell you have not thoroughly back tested your strategy.
and even if u did , i suspect you either changed technical parameters or time frame to “fit” the past/historical data and that is why is failing going forward. It has no predictable value.
Go back to the drawing board. Stop trading live. Backtest thorougly. Use as much random historical data as possible.
It is very very to hard to come up with a strategy that can pass a thorough back test. Simply changing parameters or Timeframe to fit the past data wont help.
@Gurly7 @rahulkhanna @alphaT @trader_dude @sekhar916
Thanks for the valuable reply Bro. I have already taken a break & on 2nd September going to start again with my own one & only strategy (Supertrend, Rsi, Psar, Vwap backtested on streak, but Streak not supporting Options trading). Another problem is Zerodha is not allowing to place a stoploss & target at the same time, either one is only allowed). I understand that emotions are the culprit for my losses, and couldn’t overcome. Thinking of shifting to BankNifty Futures (Streak supported, could block emotions) which has got one month expiry, So if I wait /hold, there are chances to recover my blocked money at least, Please correct me, if I am wrong?
you don’t have to rely on steak. you can use amibroker/python/java what have you , to backtest your strategies.
I m afraid you are in too much hurry to trade rather than make money.
Think hard about what i said above.
if emotions are a problem , let the computers do the trading for you. Again thorough back testing reqd for this which is a very time consuming process.
Few posts back you were talking about trading 1 min TF and now wait and hold.
Again , why are you in such a hurry to trade?.
you have not planned any aspect of your trading thoroughly?
Do you even believe or have proof that your trading strategy can beat the nifty? Ask yourself this? Why are you taking such crazy risk? Prove to yourself first you can beat nifty and then and only then go live.
Park your money in liquid fund for 6mo - 1yr and work on your trading plan.
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@Gurly7 @rahulkhanna @alphaT @trader_dude @sekhar916 @Newbie420
@trader_dude: you don’t have to rely on streak. you can use amibroker/python/java what have you , to backtest your strategies.
Thanks for the valuable reply Bro, Never tried Amibroker/Python/Java etc. If its supporting Algo trading am ready. In the beginning I made significant profits on BN Options.
@trader_dude: Few posts back you were talking about trading 1 min TF and now wait and hold.
Again , why are you in such a hurry to trade?.
you have not planned any aspect of your trading thoroughly?
Do you even believe or have proof that your trading strategy can beat the nifty? Ask yourself this? Why are you taking such crazy risk? Prove to yourself first you can beat nifty and then and only then go live.
Park your money in liquid fund for 6mo - 1yr and work on your trading plan.
All this time I was trading (intraday / swing trade) on one minute time frame only.
I have already invested in few stocks which are holding since early 2019 because of the market crash. (mostly nifty50 stocks)
My strategy backtested on (BN Futures) on “Streak” was successful but “Streak” does not support Algo / Automation trading for Options Trading. Could you please tell me whether Amibroker/Python/Java etc. supporting Algo trading for Bank Nifty Options?
@Smak_DxbUae - this is some excellent piece of advice from @trader_dude . Please don’t be in a hurry to trade. First, come up with a good trading strategy, back test and forward test it well. Then do some days/weeks of paper trading with the strategy. They start with a small amount of your capital to see how real trades are performing. Then you can decide if it’s worth scaling up or not.
Result of yesterday’s Bajaj Auto long setup. Quick entry and exit. Touched the hot bed of pending orders and shot up! Not all setups work this way but if 50% work with good RR then it’s cool.
-AlphaT
(Happy Learning - here )
you can try with python.
if you want historical data. check with Zerodha python Kite APIs or Global data feed APIs
you can also go with amibroker. Options data is available from Global data feed.
But this is a daily chart not 15 min chart…