Going With The 60min Flow!!!

[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

UPDATES

SESA GOA:Still all 6 short,avg at 3903,stop loss brought down to 3680

ABAN OFFSHORE:Still holding all 10 lots,avg 3848,stops same at 3700

JP ASSOC:Exitted all 6 shorts at 203,and reverted to longs........+8.33 on 6,equivalent to +25pts on 2 contracts.

All the best!
Saint

ps:Thus far:SESA Short=+115,ABAN short=+10,JP long=-10.8,SESA Long=+60,ABAN Long=-135,JP short=+25pts

 

[Saint]

Hi Saint,
Just a curious question:
We know we shd not change the time frame once we are in the trade. However, can we dop it once we are in profit. Example, can we convert a 60 min trade to a day trade once we are in profits....just with the intention of letting the profit run.
It would be diferent than timing the daily trade with the help of 60 min..bec in that case, our stop loss will also be on the daily charts.

Please ignore if this question is outright illogical.

Thanks,
Rakesh

Hi Rakesh,

Presuming you are trading the 60min chart,unidirectional play,you have a great entry,and you are looking to a great exit..........you get a free fall,nice,no problem at all in bringing the time frame to 15min and exitting once pivot highs break to the up.........But do not forget to get back in short if the 60 is still showing a downtrend.In essence,you are actually trading the 15min chart following the trend pattern of the 60.

Or you could try the same method as talked abt in this thread,using the 15min chart.......up and down the 15 min chart,forget the 60min chart,don't worry what's happening there,don't bother abt the perspective charts,just long and short the 15.......But remember,tougher on the 15 as pivots break to the up,and then immediately break to the down,more volatile,so careful,but if you are eyeballing it well,then go ahead........whatever you do,bring analyses to as minimum as possible,give your broker as minimum as possible,.........my viewpoint,trade as little as possible,make as much as possible.

But don't try to use the 60min entry,and fine tune an exit using the 15,and then revert and go long all the while looking at the 60min..........you could be right every now and then,but the turnaround can be rather painful.

So either of the 2 ways in the first 2 paragraphs above is fine,not the last.

All the best!
Saint

 

[Saint]

NIFTY :Those in NF using the 60min flow method should have gone long over 4636+9-10,abt 4645.

That would have been +175 pts from the short entry of 4820.

Saint

 

[Saint]

Thanks MG, Then can we say that Uptrend wud commence above the high of 1 PM bar yesterday!!! > 4725.80

Reversal to longs over that pivot high of 4636(abt 4645)..........


Saint

 

[Saint]

Uptrend will be confirmed only after higher Pivotal High (Made above the 12 Noon Bar) and higher Pivotal Low (Awaited). Satisfaction of just the first condition do mean that the downtrend is invalidated but it does not establish an uptrend.

Right-o,MG.......reversal to longs as downtrends cease,now a higher pivot low followed by newer highs is your add areas.

Saint

 

[Saint]

Hello all,

NF for June 6th... According to Saint's system
Will not go with 2 bar method for NF... as mentioned by Saint... Will go by pivots(unless real good V move happnes)

Today we made a pivot high at 4636... and then went far down and then again moved up and crossed the pivot with good points...
So we are now long in NF from 4636+ with a SL of 4625-

So for the June Series so far...

Number	Trade	Level	SL	Initial Risk	P/L(Close)

2	Long	4636+	4525-	-111		+35

1	Short	4826-	4727+	Closed		190(Booked Profit)

Total booked P/L = +190pts

Please clarify if the postions are right...

Regards

ps:- NF 60 is not in UT yet but the DT is questionable now... but according to rules to trade 60min we do not wait for confirmation just go with the flow(Taught by Saint)

Right,MB...........that particular downtrend on the 60 is over.This uptrend may hold and blast off,or may not and collapse........but we are not much bothered abt it.Exit and revert to short if a previous pivot low breaks.

Saint

 

[SGM]

In essence,you are actually trading the 15min chart following the trend pattern of the 60.

So in this case we will only take the trades in the direction of 60 Mins trend but the entry-exit according to pivots on the 15 mins charts.

Same as trading any timeframe (15 minutes, in this case) with a higher timeframe as prespective (60 mins, in this case)

Or you could try the same method as talked abt in this thread,using the 15min chart.......up and down the 15 min chart,forget the 60min chart,don't worry what's happening there,don't bother abt the perspective charts,just long and short the 15.......But remember,tougher on the 15 as pivots break to the up,and then immediately break to the down,more volatile,so careful,but if you are eyeballing it well,then go ahead

Ok, we will then call it the Going with the 15 Mins Flow!!!

........whatever you do,bring analyses to as minimum as possible,give your broker as minimum as possible,.........my viewpoint,

Trade as little as possible, Make as much as possible.

And finally what Not to do, we will call it Bombay Bhelpuri

But don't try to use the 60min entry,and fine tune an exit using the 15,and then revert and go long all the while looking at the 60min..........you could be right every now and then,but the turnaround can be rather painful.

So either of the 2 ways in the first 2 paragraphs above is fine,not the last.

All the best!
Saint

Nice lessons, Thanks.

Sanjay

 

[milkyblack]

Right,MB...........that particular downtrend on the 60 is over.This uptrend may hold and blast off,or may not and collapse........but we are not much bothered abt it.Exit and revert to short if a previous pivot low breaks.

Saint

Thanks Saint,

Good to know I am able to find the pivot points

Regards

 

[SGM]

Do we need Belief n Faith ??

Its my belief that when you have faith on a system the .............

Areeee BELIEF and FAITH ................. Sirji you forgot the mandatory disclaimer

Anyway before we get jumped upon, I will try to help out .............
_____________________________________________
Disclaimer: We do not recommend homeopathy,
or for that matter any other form of medication,
plz check the scientific evidence before taking your pills

Cheers
Sanjay

 

[rakeshluthra430]

Hi Rakesh,

Presuming you are trading the 60min chart,unidirectional play,you have a great entry,and you are looking to a great exit..........you get a free fall,nice,no problem at all in bringing the time frame to 15min and exitting once pivot highs break to the up.........But do not forget to get back in short if the 60 is still showing a downtrend.In essence,you are actually trading the 15min chart following the trend pattern of the 60.

Or you could try the same method as talked abt in this thread,using the 15min chart.......up and down the 15 min chart,forget the 60min chart,don't worry what's happening there,don't bother abt the perspective charts,just long and short the 15.......But remember,tougher on the 15 as pivots break to the up,and then immediately break to the down,more volatile,so careful,but if you are eyeballing it well,then go ahead........whatever you do,bring analyses to as minimum as possible,give your broker as minimum as possible,.........my viewpoint,trade as little as possible,make as much as possible.

But don't try to use the 60min entry,and fine tune an exit using the 15,and then revert and go long all the while looking at the 60min..........you could be right every now and then,but the turnaround can be rather painful.

So either of the 2 ways in the first 2 paragraphs above is fine,not the last.

All the best!
Saint

Hi Saint,
OK....so what I can make out is that we
1. Either trade the 60 minutes by fine tuning the entries,exits using the 15 min.
OR
2. Play the 15 minutes without any reference of 60 min.

Also NOT to enter using 60 min and exit using 15 min.

This clarifies most of my doubts... but one. As I had asked earlier, Can we take a trade based on 60 min and once its in good profits, convert it as a EOD trade, just to let the profits run some more (presuming the daily is in uptrend). This will mean taking exits only as per eod charts and not 60 min.

It is diff from finetuning entry using 60 min... as the initial stops there wud be on eod.

Thanks for being so patient and bearing with a barrage of questions.

Rakesh