Going With The 60min Flow!!!

[AmritaBasu]

Lot of

Please gentlemen understand this is one of the master threads, Kindly try to find the relevant section / thread to post queries, will appreciate your understanding.

If you like to learn the system, kindly go thru the thread & try to learn silently, till you get the basics, also there are sub threads, to ask question about this & similar thread, hope you try & find them, thanks...

Since I amnot a gentleman but a lady can I ignore the request ? Just kidding. I will respect that request but I want to make a request ...pls do tell me what are the basic resources reqd. The techniques I'll readthrough and try to understand and then ask questions to get clarifications. But pls tell me do I need to subscribe for EOD data? or the data on nse site can be used in meta stock software etc? Pls guide abt the basic things I'll need to begin with.

 

[AmritaBasu]

Since I amnot a gentleman but a lady can I ignore the request ? Just kidding. I will respect that request but I want to make a request ...pls do tell me what are the basic resources reqd. The techniques I'll readthrough and try to understand and then ask questions to get clarifications. But pls tell me do I need to subscribe for EOD data? or the data on nse site can be used in meta stock software etc? Pls guide abt the basic things I'll need to begin with.

And another reason why I asked my question here inthis thread was o get a response from you guys, these ppl ..most of them are not available on other threads. Posted here to get a response from these ppl bcause I frequent this thread to read the views and have more confidence in these ppl.

 

[Dev Mookerjie]

As is obvious,this thread is for the trader trading the 60min charts.For any intraday postings,I usually post on Asish's thread "Time to stick my neck out".......For swing/position moves,I post in the "New Intermed Uptrend".But for the 60min trades,have been at a loss where exactly to post them.......Therefore this thread!

Before starting,I wish to clarify a few things...........slight modifications as per the time frame.

Primary Trend Trade:I look at the monthly,enter once the monthly triggers an uptrend,latching on to an intermed uptrend on the weekly charts.I am therefore trying to capitalise on the primary uptrend,but am not interested in participating in the intermed downtrends within that primary uptrend.Therefore the time frame traded is the Weekly,Pespective chart is the Monthly.When the Weekly pivot low gets cracked ,I am out,waiting to reenter on the weekly making an uptrend again.For reentry, I am not looking to enter only above previous pivot highs..........even if the weekly bars made ten higher highs and higher lows each week,now started a pullback,each week making lower high and lower lows to the previous,the first bar that halts this pattern and beats the previous week's high,I am in that trade.Stop loss at recent pivot lows as always.But in a pattern where the weekly charts are making lower pivot highs and lows,then we have no chance but to wait for a previous pivot high to get taken out.

To reiterate again.......
SCENARIO 1:
Monthly uptrend,weekly making few bars/candles down,buy the first week where the bar takes out the previous week's high.

SCENARIO2:
Monthly uptrend,weekly breaking previous pivot lows,proceeding to make lower pivot highs and lows,buy only when the weekly charts show a previous pivot high being taken out.

What's the difference between lower highs and lows and lower pivot highs and lows?Sorry,but please go to the "Teach a Man to....." thread where it's been discussed.

As far as exit points are concerned,same thing.......out on a break of previous pivot lows.


What's all this got to do with the 60min trade?Ah,clearing the cobwebs first before proceeding to create more later.

All the best!
Saint

Dear Saint,

I had never read ur threads meticulously earlier. So have no idea about ur trading strategies. Now after reading this thread, am watching the similarities with my very own or even it is similar to the throusands of successful traders (as a moderator u can check my deleted posts where swing trading calls were given, except those were given based upon chart patterns).

In my small trading life I have hardy used any indicators/oscillators to trade. Thus there is no question of any filtering system or any automated formula etc. The same thing I had told in this forum earlier. But every time I was critisised by some members. I still remember some of the comments " go and teach these kindergarden stuff to the kids" etc.

The critism helped me a lot to concentrate on my own trading rather than giving calls in the forums and getting applauds. Today I have totally stopped giving calls to others. What is the benefit of doing this.....only I know.

The purpose of this posting is to express my pleasure, that u have made it possible to make others in believing that successful trading is not impossible without a complicated or formula based system instead of using a basic concepts of pivots.

All the very best to u.

regards
dev mookerji

 

[rakeshluthra430]

It seems that you have missed the initial position which we shorted at 4425. Then additional shorting was done at 4324, 4280, 4240. The average comes to 4317.25. Stoploss is now at 4352 so we will have a loss (if nifty reverses) of only 34.75 points. Since nifty future close was 4230 we are riding on profit (notional) of 87 points. I think you got the point.

Hi,
No, I did not miss any position except the last one at 4249(not 4240 as per my understanding)....starting from the first one at 4324.
I think i have not made my problem clear...let me give another try. From what you are saying...when we get a trend and enter as per the system...our overall risk will always REDUCE as we go ahead in the trend....like in the present trade, it has come down from a risk of 83 points in initial position to 34.75 (as quoted by you) currrently.
Now this is the problem....a lower risk will assume that we take a bigger position...isnt it?. So practically..what we are doing is "reverse pyramiding"...where our initial position is 100...and the LAST add is 350.....(and this will in turn make the average price calculations change...resulting in an "unending loop"....). Even without this problem....think it this way....we will be sitting with our biggest positions CLOSE TO THE REVERSAL POINTS..whenever they come.

Hope I have made myself clear now.....all suggestions/approaches are welcome.

Thanks again,
Rakesh

 

[musicjunkie]

"You can never put enough of a position when you are on the right side of the trend." George Soros.


MJ-

 

[umeshmandal]

Have joined traderji for this particular thread only !!! Great job by all. Thanks

 

[pakatil]

Hi,
No, I did not miss any position except the last one at 4249(not 4240 as per my understanding)....starting from the first one at 4324.
I think i have not made my problem clear...let me give another try. From what you are saying...when we get a trend and enter as per the system...our overall risk will always REDUCE as we go ahead in the trend....like in the present trade, it has come down from a risk of 83 points in initial position to 34.75 (as quoted by you) currrently.
Now this is the problem....a lower risk will assume that we take a bigger position...isnt it?. So practically..what we are doing is "reverse pyramiding"...where our initial position is 100...and the LAST add is 350.....(and this will in turn make the average price calculations change...resulting in an "unending loop"....). Even without this problem....think it this way....we will be sitting with our biggest positions CLOSE TO THE REVERSAL POINTS..whenever they come.

Hope I have made myself clear now.....all suggestions/approaches are welcome.

Thanks again,
Rakesh

Yes, Right at this moment, we are at 33 x 4 = 132 points risk ( 82 points at begining).

If current SAR 4352 is hit, then that is the 60 Min Flow.

In all fairness to the current trend, I am sure SAR will get lowered than Avg Price of 4319. How much, don't want to hazard a guess,

If one wants to play safe, do not add if Avg Price after the add is lesser than SAR in a down trend. Then it takes out the essence & juice of the Trade.

Just loud thinking. May be I am wrong.

Cheers

 

[Smart_trade]

Hi,
No, I did not miss any position except the last one at 4249(not 4240 as per my understanding)....starting from the first one at 4324.
I think i have not made my problem clear...let me give another try. From what you are saying...when we get a trend and enter as per the system...our overall risk will always REDUCE as we go ahead in the trend....like in the present trade, it has come down from a risk of 83 points in initial position to 34.75 (as quoted by you) currrently.
Now this is the problem....a lower risk will assume that we take a bigger position...isnt it?. So practically..what we are doing is "reverse pyramiding"...where our initial position is 100...and the LAST add is 350.....(and this will in turn make the average price calculations change...resulting in an "unending loop"....). Even without this problem....think it this way....we will be sitting with our biggest positions CLOSE TO THE REVERSAL POINTS..whenever they come.

Hope I have made myself clear now.....all suggestions/approaches are welcome.

Thanks again,
Rakesh

This is the reason why we are restricting our number of adds to 3.Also we are not reverse pyramiding.We are adding a uniform qty at every add if the money management permits. By defination the trend is going to reverse somewhere and if we go on adding more qty (reverse pyramiding)on every add then we will always make zero profit when the trend reverses ,so no reverse pyramiding we follow equal qty add.

Hope I have understood your question correctly.

Trade Well and Enjoy !!!

Smart_trade

 

[rkpahwa]

With so many people trading this thread. Taking a Headcount!

Press thanks button to this post and we will know you are with the Team!

Kudos to Saint!

Best method to run "Reputation Meter" fast .....

LOL

 

[trader27]

Hi friends!
Wanted to confirm the stop and reverse levels for following stocks:
1.NF 4337+15=4352 sep 12,12:00:00 bar
2.PowG 98.3+1=99.3 sep 12,12:00:00 bar[cash segment]
3.Aban 2358+20=2378 sep 12,12:00:00 bar[cash segment]
4.JPASSO 161.2+2=163.2 sep 12,12:00:00 bar[cash segment]
5.LITL 291-3=288 sep 12,10:00:00 bar[cash segment][Only one with long position]

Pls confirm if those levels are correct.LITL now is not performing well(Hope I am doing it correctly).