Going With The 60min Flow!!!

[rkkarnani]

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, Thanks for the chart!!!! Agree to all you have put in there!!! Saint in this month the biggest strength was that the first trade gave BIG BIG profit and that would be good enough to sustain the balance months hiccups!!!
Accordingly Saint, if we continue to trade with discipline over period we build a cushion to land on in troubles and that can help in sustaining the sometimes 'ugly' gaps!!!!
And the best line above is no doubt ;

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 this what matters the most, whether we trade this system or any other : "Stick to the plan!!!"
Thanks again ,
Best regards
R K Karnani

 

[sikandar]

Dear ppls here,
This thread and saint serving to all of us, If we can only to follow to gather much more.
warm regards for dedicated works of saint..
sikandar

 

[Prabhjeet]

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

I appreciate your view, keep the golden words coming.

BTW, Saint when you said that we will have a bad month coming soon I thought that we will have some 10% loss which should be maximum loss for a month but what I see has made me smlie from ear to ear, we still come ahead in bad month I think the system provess its strength again.

Saint if you can take some time out plz. review our current short positions, after adding two times to our positions we will still land in losses if our stoploss is hit though I think when we add our stoploss should atleast move a bit into pofit rather than losses, have we made some mistakes in adding or are my view inccorrect??

Thanks a million for March charts again

 

[gkpc]

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

Saint

Saint, I am so relieved.... I was worried that my point of view may be construed in some other light than intended!!! Had received 2 PM's from members requesting me not to post anything remotely contrary to the original rules!!!

Thanks for appreciating my posts!!!

 

[milindkuyilan]

Hi Saint ,
new to this this thread , please advise or give me a link i want to try out this method.

 

[Saint]

I appreciate your view, keep the golden words coming.

BTW, Saint when you said that we will have a bad month coming soon I thought that we will have some 10% loss which should be maximum loss for a month but what I see has made me smlie from ear to ear, we still come ahead in bad month I think the system provess its strength again.

Saint if you can take some time out plz. review our current short positions, after adding two times to our positions we will still land in losses if our stoploss is hit though I think when we add our stoploss should atleast move a bit into pofit rather than losses, have we made some mistakes in adding or are my view inccorrect??

Thanks a million for March charts again

Most welcome,my friend.....

Your reversal short is at 4588-15=4573.Stop at 4654+15=4669 (diff.of 96 pts)
Add 1 at 4487-7=4480.Avg entry now at 4526.5.Stop at 4563+15=4578(diff. of 52 pts,equivalent to -104 if hit).
Add 2 at 4451-7=4444,avg entry at 4499.Stop at 4502+15=4517(diff.of 18pts,equivalent to -54pts if hit.

If we get a further move down,that figure slowly comes into the positive.If not,......well,we take it as part of trading and following our Plan.The adds become sweet when you get a super directional move either way.Since we don't know which move is going to be that big move,and we do not want to commit that crime of second guessing,and predicting and all that..........we take 'em all.

Take the stops if triggerred and revert back to longs.The stop now stands at 4517.

Saint

 

[Prabhjeet]

Most welcome,my friend.....

Your reversal short is at 4588-15=4573.Stop at 4654+15=4669 (diff.of 96 pts)
Add 1 at 4487-7=4480.Avg entry now at 4526.5.Stop at 4563+15=4578(diff. of 52 pts,equivalent to -104 if hit).
Add 2 at 4451-7=4444,avg entry at 4499.Stop at 4502+15=4517(diff.of 18pts,equivalent to -54pts if hit.

If we get a further move down,that figure slowly comes into the positive.If not,......well,we take it as part of trading and following our Plan.The adds become sweet when you get a super directional move either way.Since we don't know which move is going to be that big move,and we do not want to commit that crime of second guessing,and predicting and all that..........we take 'em all.

Take the stops if triggerred and revert back to longs.The stop now stands at 4517.

Saint

Ok Saint, so you mean that we have to risk a few points on earlier add ons and once we get a strong trend we start accumulating large profits, right? I remember last month how you had 10 add ons in Aban & made stupendous profits

Saint one more little doubt, during our this trade we had many pivot lows like 4528, 4505 that could have been possible add ons but markets opened gap down below these levels and we missed our opportunities 2 times so isnt it prudent that after gap down if markets come back to these levels we can add in with previous pivot as stop.

Hope I have explained my question appropriately

 

[vinst]

Another add done for NF short today morning? I missed as phone line gave way.
opening 5min bar low on NF 4401. so add should be done below 4401-7.
My NF data is not accurate. Can someone confirm these figures?

vin

 

[Saint]

Another add done for NF short today morning? I missed as phone line gave way.

vin

Not yet,Vin....

Saint

 

[Prabhjeet]

So our stop and reverse for shorts today at 4517