Going With The 60min Flow!!!

[KomaL2099]

Re: 60min Flow Trades for the Week: Saint's Method

guyss this is a very unique situation....u don confuse urself with this all the time.....it occurs 1ce in a while.....the above charts r self explanatory....but just a little observation u understand dis.....

u just revert back to the original position and use a moving filter now....as simple as that......do sum backtesting u will understand....whenever we reverse the position .. most of the times closing of d bar is above the SAR point....or atleast strong closing in our direction......but the bar dat i spoke about above just reversed after hitting our SAR....so it had no conviction for reversing.....it was not obvious to reverse there.....

u shud b able to understand candlesticks and price movements to understand dis situation...its a more aggressive situation....

matter of big money so agressivness is required sometimes but not all d times......


regards

neeraj

neeraj didnt get ... lets get simple .. I have a pivot high at 2797 ... my SAR 2797+f ... it gets hit at 3pm.. now what am I suppose to do ..

1) take the reversal(long) but when I see that next bar is not making higher high and instead have reversed I revert(back to short) my position ...

2) I see my SAR is hit but not convinced of the breakout and wait to see what happens in the next bar .... if next bar confirms breakout I take longs but if next bar reversed I take short again.

 

[niftychance]

Re: 60min Flow Trades for the Week: Saint's Method

neeraj didnt get ... lets get simple .. I have a pivot high at 2797 ... my SAR 2797+f ... it gets hit at 3pm.. now what am I suppose to do ..

1) take the reversal(long) but when I see that next bar is not making higher high and instead have reversed I revert(back to short) my position ...

2) I see my SAR is hit but not convinced of the breakout and wait to see what happens in the next bar .... if next bar confirms breakout I take longs but if next bar reversed I take short again.

On breakout above 2797 + f, Position will be Long

Now if around closing time price is back, below 2797 (PH on which we took the reversal) reverse to original short...

as for the rule we can call it, End of Day Reversal

As always, needs confirmation from Saint Sir...

Thanks

 

[ThE HaMmEr]

Re: 60min Flow Trades for the Week: Saint's Method

thanks NC.....

its actually end of bar reversal .....

 

[ThE HaMmEr]

Re: 60min Flow Trades for the Week: Saint's Method

a very small eg. for the importance of closing of the bar.......CANDLESTICKS.......

A DOJI IS NOT A DOJI UNTIL IT CLOSES.......

A HAMMER IS NOT A HAMMER UNTIL IT CLOSES........


regards

neeraj

 

[ThE HaMmEr]

Re: 60min Flow Trades for the Week: Saint's Method

saint sir please comment on dis......please share ur experience on dis....awaiting ur guidance ...

 

[Saint]

Re: Live discussion Saint's - 60 minute flow

but saint has told it is a wrb whether it has long wick or not.
The general thing was to trade with saints rules,but i mostly see only pivot even if there is a huge wrb .

That long wick bar is not a wrb,a pivot where you had initially placed your SAR.

You were right at that time.

Saint

 

[Saint]

Re: Live discussion Saint's - 60 minute flow

I feel one thing for sure, that there is no place in this Flow method for a simple head.

There is only place in the Flow Method for a simple head,my friend.

Saint

 

[Saint]

Re: 60min Flow Trades for the Week: Saint's Method

a very small eg. for the importance of closing of the bar.......CANDLESTICKS.......

A DOJI IS NOT A DOJI UNTIL IT CLOSES.......

A HAMMER IS NOT A HAMMER UNTIL IT CLOSES........


regards

neeraj

Neeraj,

Pivot break gets us into the trade.....waiting for closes can be a very painful thing at many times although many whipsaws might be saved.

Saint

 

[Saint]

Re: 60min Flow Trades for the Week: Saint's Method

PLEASE DO NOT TAKE THIS AS FINAL TRADES 4 D WEEK....this is open 4 discussion....please let seniors comment on dis view..... -)

on 2nd feb we had a gap down opening....the 1st 5 min bar was same as our sl 2 bars back on 30 jan....we shorted below 2815 - f....

den on 3 feb we had a gap up opening...which also formed a ph....b/w 2-3 p.m. our sl of 2797 +f was taken out......but soon after it hit the SAR .. it started to come down drastically....negating the whole upmove....and negating the whole breakout....

i have witnessed in some other instruments like gold for eg. that we generally 1ce in a blue moon witness false breakouts which take out our filters too......but by giving a weak closing it it alarms us.....this is where MOVING FILTER concept shoots inn......

here is 1 more recent eg. i witnessed....which i hav posted in comm. trading thread....

a very recent example of closing below sar imp levels is stated below....



i hav tried dis couple of times in gold....after backtesting gold found dis whipsaw a few times...witnessed it here too so thought of posting....

these whipsaws are quite pathetic....they r not worth 100 pts loss ....which is big money......


out of ur experience please comment on dis thing ....


thank u

regards

neeraj

Neeraj,

From your post,I presume that you are suggesting waiting for the close of that particular reversal bar before taking action.Presume that 2nd Feb b/out candle did not close weak,then you would be entering over the breakout candle as you waited for confirmation.But your stop loss is miles away at previous pivot lows.Which presents difficulties from an MM perspective.If you are waiting for a confirmed breakout,and then a pullback,and another confirmed breakout..........then no trading takes place,a lot of looking.

On 2nd Feb,entry at 2797+f,stops at 2773-f..........pivots nearby,nothing to get upset about a Rs24+30=Rs54 loss,at least in this type of trading.And that too on Initial Posns.And we are short by the end of the day.No harm done.We stuck to Plan and nothing to get frustrated about.

The 2nd Circled candle above also does not trigger an entry thanx to our Moving Filters.

Let us presume that we had a breakout candle that reversed more than half to three quarters thereby producing the upper tails but still closes bullish but below our trigger price................just getting back to our original positions can be detrimental.

Not to forget that this method is like an Elephant,........expecting nimbleness and grace is not going to cut it.

But there is something that we can do.......NC has already alluded to it in his post........an END OF DAY REVERSAL if that breakout does not hold and negates in itse entirety.We simply reverse back to the original position with all the adds at 3:25pm.Presuming we are holding Initial Posn short + 2 adds,and our SAR is hit and we go long Initial Posn,and negates before end of day.....simply get back into 3 posns short and retire for the day(as if this never happened).

This is presuming that there are no pivots to go by,no 2 bar method to go by.............yes,in a late day breakout kind of situation and that falls flat next bar and closes below our SAR point,simply get back into previous positions.


More tomorrow.......really need to get some sleep.....

Saint

 

[pakatil]

Re: Live discussion Saint's - 60 minute flow

There is only place in the Flow Method for a simple head,my friend.

Saint

Thank You Saint.

Your kind words always buoys my energies.

Cheers