Going With The 60min Flow!!!

[vpsarathy]

Amrita,

Please post your questions in
Questions from juniors on"Going with 60minute flow" . You may get a faster reply. Please donot disturb the flow here.

VPS

 

[Pattel]

Looks like a gap down opening today. SGX trading -123.5(4092.5) right now

. Stops remain as previous and we wait for new pivots to form to move down our stops would be our approach today.

 

[pakatil]

Today just sit back and enjoy.

Move the SL to new lower PHs as they form.

Cheers

 

[musicjunkie]

Czar I had two things on my mind bugging me for quite a bit....
You answered both.....are u a part time mind reader?

2002 charts and the fact that many people might use this system....feel better now

MJ-

 

[rakeshluthra430]

I have roughly understood the question,Rakesh.......may not be exact in the undertanding.

But just communicating what I do........I don't want even the position sizing to get too much of a rocket science and would like to keep things as simple as possible.

Let us presume I am trading with 10lakhs.Simplistically,I don't mind risking 1-1.5% in that trade.Let us put it at 1%.1% of 10L=10,000.Meaning max.risk in that trade is 10k.

Now,I short the market at 4425 with my stop loss at 4508.Difference of 83 pts.Meaning 10,000 divided by 83=120 shares.So,the max I can short is 2 lots.So we short 2 NF at 4425.......if stops are hit,loss=8,300

ADD 1 is at 4324,now I want to short 2 more lots.Stop loss at 4387,average of 4425 and 4324 is 4375.Difference is 12 points.....if stops get hit,loss=12 x 200=2,400.Is it less than 10,000?Yes it is......so add the shorts at ADD 1.

ADD 2 is at 4280,stop loss at 4360,Average of 4425,4324,and 4280 works out to 4343,.....Difference between avg and stop=17pts....if stops get hit,loss=17 x 300=5,100?Is that less than 10,000?Yes it is......add the shorts of 2 lots more at 4280.

ADD 3 is at 4246,Average now is 4319,stop loss at 4352.........Difference is 33 pts....if stops get hit,loss =33 x 400=13,200......Now I am not overly concerned with the mild peep over the 1% mark,I would take that 2 lots.But if you are uncomfortable,short only 1 lot,your avg now works to 4329.Stops at 4350.Difference is 21 pts....If stops get hit,loss =21 x 350=7,350.

For me,I would take both the 2 lots....but up to your Rules of your Plan that you have drawn up.

Saint

Saint,
Aah.......what a relief. A mere Thank you is not enough to convey my gratitude...and sadly I dont know to put all those smilys like Czar does.
Nonetheless, a Big Thank You for your patience and guidance.

Thanks,
Rakesh

 

[ARMHM]

Any suggestion on how to handle the wrb's and also an imminent verticle move down!!! We may not see PHs in a hurry!!!

Right. We should be patient. Let the market decide. It will form a pivot (hi or low) sooner or later.

 

[milkyblack]

Good Morning,

Everyone... I am sure everyone over here... very much delighted today.... with a good gap down expected.... as fortunate enough we are on the right side of the trade

But no profit booking though... as not a part of the strategy... just reverse when hit!

Regards

 

[Czar]

RK MJ , We shall study this after closing today, but Saint cleared everything in 5 mins of my asking...

 

[ARMHM]

Agreed about patience!!! My reason for asking was to know what would we do as per rules we are following here.....

go for 2 bar funda!!! When?
OR
seek guidance from 30 min.chart!!!! WHEN??

As far as I know you are more senior than me (in trading). I have no clear idea on how to handle gap situation. Still learning.

 

[KomaL2099]

We have done 3 Adds in NIFTY.. no more ADDS . just trail now