Going With The 60min Flow!!!

[praveen taneja]

Slight modification M4UH adds should be at 4252 - 7 = 4245

i m confuse on one thing when u can had 125 points at 4256 why u are still waiting for less points in this positional trading must b some point of level or tgt at which profit should b booked sorry for interrupting

 

[lalpar]

i m confuse on one thing when u can had 125 points at 4256 why u are still waiting for less points in this positional trading must b some point of level or tgt at which profit should b booked sorry for interrupting

Friend they are following a System and u shld stick to the rules of the system when ur trading!!!it is the system which will win over the longer run not booking profits...!!!!I

 

[sikandar]

Friend they are following a System and u shld stick to the rules of the system when ur trading!!!it is the system which will win over the longer run not booking profits...!!!!I

Yes every system trades should stick to the rules of the system which will win over longer run.that is true.

 

[nareshch]

i m confuse on one thing when u can had 125 points at 4256 why u are still waiting for less points in this positional trading must b some point of level or tgt at which profit should b booked sorry for interrupting

How do we know whether we are waiting for peanuts or gold mine ?

We do not know whether 4256 is a bottom or it will drift down to 3800 again .

Naresh

 

[nareshch]

Hi naresh are you saying this

in my veiw no we can not take this pivot for trading in 60 min flow if we reverse our position at this 30 min pivot then it would be like 30 min flow method not 60 min flow

now you can argue why we consider 4341 level which is also a 30 min pivot for our stop but i think if we can switched to 60 min chart we can see a tiny pivot there and which seem more apropriate stop and reverse level for 60 min flow
Hope this clears

Regards
Satya

I dont argue much
I am convinced that its a minor pivot on 30mins itself .

But , we had a vrtical fall yesterday and If we consider 2 bar high to book profits , is that the correct level ?

Naresh

 

[Satyen]

I dont argue much
I am convinced that its a minor pivot on 30mins itself .

But , we had a vrtical fall yesterday and If we consider 2 bar high to book profits , is that the correct level ?

Naresh

Hi did not mean that actually in this method we just find valid pivot to stop and reverse no profit booking etc ....... let say you booked profit at this pivot and market falls again then how do you enter again ....... using 30 min pivot again ....?? it will just increase trading frequency may be we loose bit of our profit

Regards
Satya

 

[man4urheart]

Here is the correction

Summarizing Current Position Of Thread

Short Since : 4381.5
StopLoss: 4341 + 15 = 4356
Profit/Loss in Current Trade = 4381.5-4356 = 25.5 Points

We change our Position to LONG if NIFTY Trades above :4356

No add has been done yet!

Add to Position if Nifty Trades below 4252 - 7 = 4245

 

[man4urheart]

Summarizing Strategy for Monday

Currently we are SHORT!

Don't put Stoploss on Monday until first 5 min bar is complete.

Scenario 1

- No Gap opening and earlier stoploss for SHORT survives! we do nothing

Scenario 2 - More likely seeing US market

- Gap opening Against us. We wait for 5 min bar to complete and then put a new stop loss for our Short position.
High of Gap opening + 15 points

Scenario 3
- Gap opening positive for us. We keep the earlier stoploss!

 

[rakeshluthra430]

Phew....all fine then.

And yep....May 07 looking like a bit of a nuisance month on one look.Will post it later after market.

Saint

Saint,
Sorry for pestering you so much...but was actually waiting for the weekend to post some charts for the 'bad' months (loss making ones)...Till now found only 2 months in the last 1 1/2 years.
In your time, please let me know if the entries marked for May 07 are correct.
All seniors too are requested to give their inputs...this i think will make our learning stronger.

Thanks a lot,
Rakesh

 

[nareshch]

Hi Naresh, Yes we do not know whether we are waiting for Peanuts or Gold biscuits..... and may be we may not even get the peanuts and and God forbid return losses!!!
Here is where the past analysis counts!!! If you have done historical analysis and found thet more often you get a run of say minimum 200 points then you can form a rule in your trading to exit a certain percentage of trade at that level, that could well be 100% of the trade!!! But friend do it every time you trade!!! Do not try to predict the market that this time it looks more likely to go down so let me book profits in my Longs!!!! No predicitons just follow the rules!!!! The rules you set for yourself!!!
What we are following here are the rules that Saint has so very kindly shared with us after observing trading and analysing the system over a period of time!!!!
So Saint gives us the fruits of his hard work, now its upto us how we take the max out of it!!! If you are comfortable booking profits at a certain level go ahead do it, becoz as much as profits are important equally important is your sleep!!! If you cannot have sound sleep leaving 100+ points on the table, best is book the profits and sleep well!!! The stock market is an ocean, there will be ample opportunities coming your way!!!! In July we had a dream run of almost 500 points and i think we exited at around 400 or so points, so someone booking profits at 100+ would loose that extra but again there would be opportunities where a person exits at 100+ and the trade might end with lower profit or maybe even loss!!!!
The key word is consistency!!!! Do whatever suits you but do it consistently!
All the best!!
R K Karnani

Completely Agreed RK . Profit / Loss mainly depends on ones MM , Fear,greed etc etc . My answer was for the question , ""why are we waiting for few points "" . and my intention is to say we are not waiting for few points and we dont know where it goes.

Each trader will have his way of looking the market and taking profit//loss .
Personally I do not like to loose major chunk of my profits waiting for a big move and i do not add postions at each break . At the same time , i dont post those trades here as it will distract people . as of today , I posted a question asking , why not book profits @ 4310 as it will be 2 bar high ( we had a vertical fall yesterday ) . Thats my actual trade . ( I am long from 4310 ) .
If i post that i am long from 4310 , it will distract others who follow the system .

Naresh

I do not post long messages as i am weak in english and a very poor communicator