Going With The 60min Flow!!!

[man4urheart]

Summarizing Current Position Of Thread

Short Since : 4572
StopLoss: 4501+15 =4516
Profit/Loss in Current Trade = 4572-4516 = +56 Points

We change our Position to Long if NIFTY Trades above :4516

 

[Prabhjeet]

Though there is nothing new to add, RK Satya & Man4urheart have handled everything very well still am posting the charts for today's pivots

 

[Prabhjeet]

Frankly...have never bothered to differentiate between major and minor pivot....still going by what looks obvious to me ....with the aim of (a) moving up the stops whenever the market makes it obvious (b) not moving them too close so as to risk the overall trend...

Maybe I am wrong....but then have backtested the system with this 'wrong' perspective (though still not trading Nifty hourly full throttle).

Rakesh

Rakesh I have been trying to say this again& again but still the question comes up, I am not the one to decide what is a valid pivot or not, it is for people following the system to decide, if you see a pivot its a pivot & you should trade accordingly, dont look for others' views

Regards

 

[rishig38]

Though there is nothing new to add, RK Satya & Man4urheart have handled everything very well still am posting the charts for today's pivots

So if some one was not following this post, what would be a good entry point to short? And, would the shorts still remain same?

 

[rkkarnani]

Frankly...have never bothered to differentiate between major and minor pivot....still going by what looks obvious to me ....with the aim of (a) moving up the stops whenever the market makes it obvious (b) not moving them too close so as to risk the overall trend...

Maybe I am wrong....but then have backtested the system with this 'wrong' perspective (though still not trading Nifty hourly full throttle).

Rakesh

Rakesh its fine not to differentiate between two pivots,major or minor... but as Saint said it, do it every time!!!! If you are considering both pivot in every trade and eversal there is no problem at all!!! All u should do, if not already done, analyse the back data for atleast an year accordingly and see that you do not get carried away seeing the right side of the card!!!! If you reanalyse it you will find that you had overlooked a few minor ones when u first analysed!!! It happened with me hence commenting!!!
Do post your analysis / trades for any one full derivative month , let us say May 2008!!! Post a chart marking both the pivots in May 2008!!!!

 

[Smart_trade]

Rakesh its fine not to differentiate between two pivots,major or minor... but as Saint said it, do it every time!!!! If you are considering both pivot in every trade and eversal there is no problem at all!!! All u should do, if not already done, analyse the back data for atleast an year accordingly and see that you do not get carried away seeing the right side of the card!!!! If you reanalyse it you will find that you had overlooked a few minor ones when u first analysed!!! It happened with me hence commenting!!!
Do post your analysis / trades for any one full derivative month , let us say May 2008!!! Post a chart marking both the pivots in May 2008!!!!

Missing yr posts last couple of days Sir ji,As you are trading the system,we need yr guidence.Yr SBI short trade is rocking and so does Nifty short trade!!!
Trade Well,Regards,

Smart_trade

 

[Pattel]

Does this mean i cannot sell anything on 19th? Will this be only to cash market not for Futures? Anyone knows please clarify.

Dear Customer,

The Exchange has decided to merge the pay-in /pay-out date for settlement numbers 2008157 & 2008158 [NSE] and 0809097 & 0809098 [BSE] due to the Bank Holiday on the occasion of Parsi New Year dated 19th August, 2008.

NSE Obligation Settlement and Sell Against Receivable Schedule
Settlement No. From To Pay In Sale against
Receivables Availability
2008157 18-Aug-2008 18-Aug-2008 21-Aug-2008 Yes
2008158 19-Aug-2008 19-Aug-2008 21-Aug-2008 No
2008159 20-August-08 20-August-08 22-August-08 Yes

Deliveries taken in settlement number 2008157, will not be available for selling in settlement number 2008158 as the Pay-in for both the settlements are on August 21, 2008.

 

[Smart_trade]

Does this mean i cannot sell anything on 19th? Will this be only to cash market not for Futures? Anyone knows please clarify.

This means that the shares purchased on 18 th cannot be sold on 19 th as 18 and 19 ( trading days ) NSE settlement payin-payouts are on same day.There is no bar on selling fresh shares (bought earlier) and no restriction on sale in futures as it does not have any delivery.Hope this clarifies the position.

Best Wishes,Tradewell,

Smart_trade

 

[Pattel]

This means that the shares purchased on 18 th cannot be sold on 19 th as 18 and 19 ( trading days ) NSE settlement payin-payouts are on same day.There is no bar on selling fresh shares (bought earlier) and no restriction on sale in futures as it does not have any delivery.Hope this clarifies the position.

Best Wishes,Tradewell,

Smart_trade

Thanks Smart_trade for clarifying. Appreciate it.

 

[Prabhjeet]

So if some one was not following this post, what would be a good entry point to short? And, would the shorts still remain same?

As per my knowledge you are already holding shorts, right? If you are following this thread than you should hold your shorts with 4517 as stop & reverse to long positions