Going With The 60min Flow!!!

[vinst]

August Series so far

Total booked P/L = - 6pts.

Ankit

my results were very similar to ankit's.
RK followed with a difference, nothing wrong in that and made more profits as of now.
vin

 

[musicjunkie]

Saint , eagerly looking forward to see some chart from the past where this method proved a real nuisance and resulted in substantial losses!!!
Regards
R K Karnani

Second that ,Saint atleast well have a fair idea of what kind of drawdowns we could inccur.

 

[musicjunkie]

Rk WELL DONE,
Really liked those trades posted, your short (and patience) shall be paid off.
Cheers! Great Going
MJ

 

[Saint]

Will do,MJ....

Saint

 

[Saint]

Although,it landed into the positives that month,March was sweet for an intraday trader,but harrowing to the Flow Trader........remove that first trade and it's a breakeven month.

Too many gaps up and down can force mistakes big time.....importantly,does one have the stomach and the ability to stick to the Plan despite all the "bad" news around,all the yeehahs of the intraday traders,the strong urge to take profits off the table on a gap up,the strong desire to quit trading till markets turn bullish again,the fear of a huge gap down........

Months like these are when you pat yourself on your shoulders,not because you made profits,but that you stuck to your Plan despite it all.......


Saint

 

[Saint]

Not posting February and the rest......they are all neat Flow Months.

Think everyone who has been through this thread would find no problems in these months.

Saint

 

[Saint]

Rakesh,ask Saint the same question again now,this time I think you are going to get an answer that is different from the answer he gave at 1:59pm.

Look at your chart again.The first hit on the line was yesterday.No pivots then.Second hit was today.If 2pm bar had shot through that line,keep your stops at the dotted line.Not strong enough to be considered.

After the end of the 2pm bar came the fall and then a rally.Now your line holds true as your new stop and reverse point.

Regds,
Avinash

Well put,Avinash.....Thanks as always,my friend,and looking fwd to more posts from you.

Saint

 

[Saint]

Prabhjeet,

for this system we don't have trending and congestion markets... just major and minor pivots.

the marking of pivots take care of what should be our position for a stock.

I tried to say the same thing through these patterns: http://www.traderji.com/equities/21903-going-60min-flow-141.html#post201523

though could not reply much in your PM.

The second thing I am not clear about is a chat with Saint in which he told me that is the vertical moves come through WRBs we reverse at first confirmation of weakness. I also noted that in the mind-map here:

http://www.traderji.com/equities/21903-going-60min-flow-133.html#post200859

Myself now feeling confused about interpreting ballistic moves... so waiting Saint's reply for that.

But still I will advise people not to look at the market in terms of patterns when following this method. Also the system requires to be in market all the time -> there can't be 'no-trade' areas.

As always,well put,my friend.....

As for the confusion,.....let us,for now,just stick to the Pivots and when multiple WRB appear and trends get vertical,move to the 2 bar method for reversal.Too much finetuning can lead to problems.


Saint



Saint

 

[Saint]

Some great posts from you,Gautam........great stuff and keep em coming.Thanks as always,my friend.

Saint

 

[Saint]

If two traders following same system cant take similar trades than I think one of them will die a millionaire and other a beggar.

I think its important to first use a system for some time before we understand what are the pros and cons, I for my money will try to system in its pure form till atleast 6 months and will make notes in my diary where it could have been modified to my best use yes but not before 6 months.

Rest I cant say anyone what to follow or not, its your own money you are the best judge how you use it

Regards

Not true,Prabhjeet.......the same method with a slight tweak will put Trader A in a short position and Trader B in a long position for a brief period of time before the overall trend reunites them in whichever direction.

They both follow one method,but slight variations may put them in opposite camps for a short while..........follow the Flow whatever your method,both Trader A and B following their variations,even being in opposite camps,.....they will both be very successful.To take your example........neither will be a beggar.So long as they are following the basic method.And the tweaks employed have been tested over a period of one year and found to work.

Saint