Going With The 60min Flow!!!

[Smart_trade]

There is too much of confusion regarding minor/major/impotant pivot.Instead may I suggest swing high ? It is a highest point between two successive lows. So till yesterdays low was broken,yesterday's high was not a swing high.Now as yesterdays low was broken today,the stop and reverse point for today ( after the break of yesterdays low ) the highest point between yesterdays low and the successive low s made today,ie at 4727 Nifty Fut. It will eliminate todays stoploss but the trade off is in case of V shape recovery,we will leave too mauch on table.

 

[Saint]

Dear MB I think stop loss should be at todays high 4727 and unless we are not out by that bar then we still in short having stop loss at 4727

waiting your reply
Regards
Satya

Yep,today's high + some space....

Saint

 

[Saint]

Milky we have another problem allso as you have calculated from exact pivot low from 4826 then if we consider the exact pivot todays trade then we are out of short then agian short

some where saint was saying pivot should be taken as from 4820 so we can change the calculation .....!!

This is the practical problem we all face

Waiting your comment

Regards
Satya

Entry 4820,Pivot high stop 4896,new pivot high stop 4727........as always give it a bit of room,over that,revert long.

Saint

 

[Saint]

Hello all,

NF for June 6th... According to Saint's system
It had a vertical fall... and made a new pivot high of 4727 today(June 5th) after that vertical fall... till closed at 4582



Please add comments to it if pivot to be implemented or 2bars(in case of V fall).. for the NF... In stock futures it is 2 bars that is used as mentioned by Saint...
But by reading other posts by Saint... he used the 2 bar method for SL... but can we reverse?

Regards

It's a fall,yet not a steep fall.....once again,look at ABAN and compare it to NF........play pivots only with NF.

With ABAN,play the previous 2 bar high stop and revert to long if broken.

Different charts behave differently.........careful on applying the 2 bar strategy on to NIFTY unless it truly gives you a vertical fall like ABAN,else you tend to revert to longs too early,and you are going to get stopped out both ways and lose as much as you made........Reiterating once again,with NIFTY play pivots till it goes vertical.Vertical hasn't happened yet in NIFTY so far.

Saint

 

[Satyen]

Yep,today's high + some space....

Saint

Thank you

Regards
Satya

 

[Saint]

Saint,

Please take your own time... From your posts at the wee hours... it is like you are working too hard...
I am sorry to bother you with many questions and asking for the teachings...

Would be patient from here and less demanding...

Regards

Not at all,MB.........When one is thirsty,very thirsty,he becomes impatient till he gets what he is looking for...........can see you are very thirsty,my friend,and that's great.....So,don't be patient and less demanding.Be the same........but still,do forgive me if the answers take some time in coming.

Saint

 

[Saint]

UPDATES:

SESA GOA :added more shorts today at 3850 and 3730 .......therefore 6 contracts at 3903,stop loss at 3715

ABAN :avg 10 lots at 3848,stops at 3700......no more adds,although below 3575 would have been another add.Point reached when one feels more adds would force the mind to do stupid things.

JP Assoc:Added 2 more at 200,avg on 6 shorts 211.33,stops at 207

All the best!
Saint

 

[uasish]

Gr8 going,mouth watering positions.

 

[rakeshluthra430]

imho, one should change to a lower time frame to conserve the profits one is in!!! U shud change from 60 min. to 15 min. after in profit rather than to EOD!!!
Saint, please comment on my comment !!!

Hi Gautam,
What you are saying is the logical solution to this problem...even I would feel tempted to do that.
But I had a doubt and thats why I asked... it is logical solution, but is it the BEST solution??? Thats my doubt. Because... if the trend is to continue..it may give several exits on a 15 minute chart...which would be avoided if we look only at eod charts. Even if 30% of shares were to have a trend on daily charts, that would cover up with the 70% times when we exit early...
2 more aspects here: Pyramiding...which would be difficult in the 5 or 15 min charts.. and Re-entry... ok you may re-enter once you exit on 15 min.. but how many times...apart from costs...there is psychological draining.

Nothing to suggest that my view is correct and your wrong...just my point of view. Hope you will not mind it.

Lets wait for Saint to comment.

 

[Satyen]

Hi rakesh if u want to trade according to daily chart then its fine to enter 60 min and then continue with daly stop loss after u go into profitable situation so i think its no harm to fine tune our entry in lower time frame while we trade on higher time frame

this is my veiws lets wait for others

Rgards
Satya