Going With The 60min Flow!!!

[rkkarnani]

Hello,

ABAN revert to long 2112...

Regards

Saint, Milky ,
If long at 2112, i.e rigger level was : 2112-20=2092,
Where and which bar has this level, a bit confusing...please clarify, maybe after mkt hours!!!
Thanx

 

[milkyblack]

Saint, Milky ,
If long at 2112, i.e rigger level was : 2112-20=2092,
Where and which bar has this level, a bit confusing...please clarify, maybe after mkt hours!!!
Thanx

Hello RK Sir,

11am bar high was 2092... that became the pivot!

Regards

 

[Saint]

Saint plz. dont feel like I am trying to prove you wrong but around a month back same kind of situation had arisen when we went gap down below our stops and the the 5 min. filter was also taken out on the downside, then you had advised me to keep the high od day as revert to long stoploss and by the time we ended the day even that stop was hit & I went long, but the point is that we did keep the day's high as stoploss, why not today?

I am sure it is some lack of understanding on my part but will await your valuable advice

Not at all,my friend........great question as always.

Imagine a position that we are in,let us say short,and we have an ugly gap up that went against us,way clear of our pivots,.........few possibilities.

a.Price gaps up,makes the first bar,and falls therein...........we remain short.
b.Price gaps up,makes the first bar,takes off,and keeps going......the stop at the lod or yesterday's pivot low makes no difference.
c.Price gaps up,makes that first bar,takes off,and pulls back to above the lod......no probs.
d.Price gaps up,makes that first bar,takes off,and pulls back to below the lod...........problem!!Problem is not that you would stop out on your longs,but that you would reverse short there,price moves down Rs 20 away,now your stop is that HOD,and price blasts off.Big losses in 3 trades.

This thread has been continually evolving and the ideas that have sprung up are the result of all the various scenarios that could happen and have happened,and a huge thanks to the various participants of this thread with their probing questions in this regard.

All the best!
Saint

 

[musicjunkie]

Thank you Saint for explaination. Prabh's respect in my eyes have gone up two fold, I love his confidence in his decisions, that's how it should be
And Saint! Managing 4 Flow trades, daytrading at the same time and replying to our questions, how does he do it!

MJ-

 

[Prabhjeet]

Not at all,my friend........great question as always.

Imagine a position that we are in,let us say short,and we have an ugly gap up that went against us,way clear of our pivots,.........few possibilities.

a.Price gaps up,makes the first bar,and falls therein...........we remain short.
b.Price gaps up,makes the first bar,takes off,and keeps going......the stop at the lod or yesterday's pivot low makes no difference.
c.Price gaps up,makes that first bar,takes off,and pulls back to above the lod......no probs.
d.Price gaps up,makes that first bar,takes off,and pulls back to below the lod...........problem!!Problem is not that you would stop out on your longs,but that you would reverse short there,price moves down Rs 20 away,now your stop is that HOD,and price blasts off.Big losses in 3 trades.

This thread has been continually evolving and the ideas that have sprung up are the result of all the various scenarios that could happen and have happened,and a huge thanks to the various participants of this thread with their probing questions in this regard.

All the best!
Saint

Thanks a million Saint for the clarification, its really helpful to have you with us when these small nuisances arise but you always help us out of the problems.

I am not only humbled by the trading ideas but the way Saint goes about answering just makes me feel so small.

 

[Prabhjeet]

Thank you Saint for explaination. Prabh's respect in my eyes have gone up two fold, I love his confidence in his decisions, that's how it should be
And Saint! Managing 4 Flow trades, daytrading at the same time and replying to our questions, how does he do it!

MJ-

Ha MJ.........dont embarrass me , I am just a keen student, all the kudos should go to our teacher

 

[Czar]

joined the aban party at 2087.90, please be kind & gentle oh mighty saint, as this is my virgin 60 mins flow trade...

 

[milkyblack]

But todays high was 2098, wouldnt we take the higher of the two!!!

Yes Sir, we should take into a/c of 2098 if the high was formed for the corresponding bar level... I did not check the high of today... just placed my order based on chart high!
Though now it looks like 2098+20 should have been the case.... But once logged off for the day and then log in next day... on the charts (IEOD) 2092 would be shown not 2098... so a practical difficulty!

Regards

 

[rishig38]

joined the aban party at 2087.90, please be kind & gentle oh saint, as this is my virgin 60 mins flow trade...

Can some one summarize the ABAN position, long or short? and what is the Stop and Reverse for ABAN??

Also, summarization of the Nifty position would help as well..

 

[Pattel]

Can some one summarize the ABAN position, long or short? and what is the Stop and Reverse for ABAN??

Also, summarization of the Nifty position would help as well..

SL 2035 Days low - filter. Entry 2112.

Nifty SL 4193 yesterday low-filter. Entry 4318