Going With The 60min Flow!!!

[Prabhjeet]

So now that everybody is long Nifty, I think our stoploss for current long is at 4588-15 = 4573

 

[milkyblack]

Sudoku is a genious trader.
He has clearly written that his trades continue for months.
Now his ship is above the sea (sensex) level after many months.

His way of trading is different... nothing wrong in that too...
Here we are trading 60 min... in this case we get into the flow early... but also take more trades when compared with Sudoku...
Similarly a 5 min trader would have got before a 60min ... at the same time taking more number of trades... getting stopped out couple of times... and sometimes get a huge move which then reflects on 60(that time 60 min enter) and then reflects on the EOD(when EOD traders enters maybe like Sudoku)....

5 min trades have got less profit target per trade/less SL compared with 60min... and 60 min has got less profit target/and SL compared with EOD!

It is the amount of money one is willing to risk.... assuming that there could be few consecutive stopped out trades! Backtesting gives a fair idea about that!

So one should choose TF according to the capital... risk associated with it.... not just go by the mind boggling returns of a system! As maybe by the time system is about to give a mind boggling trade... one is stopped out... and unable to take that trade!

Regards

 

[pakatil]

prabhejeet i think there is a GAP 5 min bars high is at 4616 so adding filter 15 point we get 4631 for reversal

waiting your veiw

Regards
Satya

1. Gap up opening High was 4616. Reversal to Longs at 4616 + 15 = 4631.
2. 11 AM Bar made new high 4626, didn't hit reversal.
3. Then it changed direction and new PL 4590, was made at 1 PM bar.
4. Hence modified reversal to, PH 4626 + 15 = 4641.
5. Went Long @ 4641, with SL 4590 - 15 = 4575.

This is what myself a novice did. May be wrong.

Cheers

 

[vinst]

What sort of chart is the one posted by you!!!! Frankly could not understand the timing and date!!! And why no gap data was there!! From where did you get the data friend!!!

Gap data was not there : It meant that the 5min opening bar detail was not there in my data. Many times gaps would lead to trades based on opening 5min bar. It was nifty spot data.

Forget the timing, x-axis was hours of the day for the month of Mar 2002. It is not relevant anyway. I marked the end of March 2002 on the chart.

Important was the monthly profit/loss shown in the post.

Next :
Apr 2002 42 points
...................................................
For today, the PL as of now is 4588 and so SL is 4573 for long position.

regards,
vin

 

[Prabhjeet]

Though our system does not allow any sort of guessing & all but I have a strong feeling that we are forming rounding top & are about to reverse

 

[cheeku]

Though our system does not allow any sort of guessing & all but I have a strong feeling that we are forming rounding top & are about to reverse

Hi
There is popular saying among system traders:
Trade what you see and not what you think.
Regards.

 

[pdurai]

1. Gap up opening High was 4616. Reversal to Longs at 4616 + 15 = 4631.
2. 11 AM Bar made new high 4626, didn't hit reversal.
3. Then it changed direction and new PL 4590, was made at 1 PM bar.
4. Hence modified reversal to, PH 4626 + 15 = 4641.
5. Went Long @ 4641, with SL 4590 - 15 = 4575.

This is what myself a novice did. May be wrong.

Cheers

Dear Pakatil,
I think that you are as per our 60 min rule. Very Nice. Clear cut presentation.

Dear Senior Members,
Any one senior member may take incharge to present the trade details like above. It will be very useful to other junior members/beginners like me. Then we can trade as per our rule without any doubt. I don't have any position. I am doing paper trade.

I hope that our senior members will help us.

Thanks in Advance

-dURAI

 

[Prabhjeet]

Hi
There is popular saying among system traders:
Trade what you see and not what you think.
Regards.

Oh really!! Heard it for first time, what a wonderful saying

 

[Prabhjeet]

Stoplosses triggered, we are short now at 4572

 

[man4urheart]

what is new stoploss?

4642+15 = 4657