Going With The 60min Flow!!!

[rakeshluthra430]

Add to shorts at 3974...if tht happens today...

 

[mansukh]

I agree with Music Junkie for Stoploss of Nifty

Current Position Of NIFTY in thread

Position Start Date: 17 -Sept-2008
SHORT Since : 4011
Stop Loss:4085+15= 4100
Profit/Loss in Current Trade = 4011-4100 = -89 Points

We change our Position to SHORT if NIFTY Trades below :4100

i would like to correct : We change our position to LONG if Nifty Trades Above 4100.
Regards.

 

[pdurai]

Seniors,
Plz conform my PL, PH lines

 

[Saint]

I'd say the same again, even if NF rallied minutes ago or not.

We are basically learning yet, and while trading as a group here, each one of us is independently playing it according to his/her understanding.
Mostly it is a pretty straight forward system here and the test comes when, as Saint pointed out, we have gaps and V-shaped moves.
That, and the question of the 30 min bar decision.

We have bee through several gaps in recent days, so that has been learnt well.
But not too many V-shapes in recent times.

When NF made a steep move that terminated around 1 PM, a V-shape reversal happened. The reversal happened as buying pressure completely vanished. Else, it would have made some wobbly moves at the high, which it didn't.
The reason Saint has put the filters in place is, when sharp spikes are made that appear as clear cut visual pivots in either direction, the filters allow for the buy/sell pressure to run its course. That 10 Paise did exactly that then, and now. So, a pivot is chiefly a function of buy/sell exhaustion.
To bring in the 30 min variation here, yesterday 30 min bars gave visually clear two pivots where we moved our stops.
Today it didn't do it quite so well, despite there being 3 or even 4 sideways 30 min bars. When it seemed as if there would be one at 4023 around 12.30 PM, the next bar negated it.
So now there is a choice. And the choice is what the eye sees clearly, without any doubt. Yes, 60 min is stronger than 30 min, but the strong moves that follow a 30 min pivot would make that pivot a strong enough pivot to trade.

I personally did not see such a clear 30 min pivot today and my SAR remained at 3980. It may get blown today...or tomorrow at a gap, but that's the way my eyes see it. Today the bottom around the same level appears like a clear pivot.

I guess the point of this post is: This system is about what our eyes tell us. No more and no less. Through all the discussions here of major/minor/decent/indecent pivots, Saint seems to have said what I have written here.
I guess learning is about listening...whichever way it makes sense.

Amit.

As always,great stuff.........as had discussed,there will always be a slight discrepancy of entry and positions who look at the 30min charts as well,and those who don't........if holding longs till now,great stuff,if turned short,great stuff........but either way,market will get the 2 groups together in time.

So long as both stick to the general Plan,all's fine.

Saint

 

[AmritaBasu]

Saint pls explain how both will benefit whether long or short. Is that because both are taking respective positions based on system and therefore there is a reason ans reason never fails?

 

[Prabhjeet]

I'd say the same again, even if NF rallied minutes ago or not.

We are basically learning yet, and while trading as a group here, each one of us is independently playing it according to his/her understanding.
Mostly it is a pretty straight forward system here and the test comes when, as Saint pointed out, we have gaps and V-shaped moves.
That, and the question of the 30 min bar decision.

We have bee through several gaps in recent days, so that has been learnt well.
But not too many V-shapes in recent times.

When NF made a steep move that terminated around 1 PM, a V-shape reversal happened. The reversal happened as buying pressure completely vanished. Else, it would have made some wobbly moves at the high, which it didn't.
The reason Saint has put the filters in place is, when sharp spikes are made that appear as clear cut visual pivots in either direction, the filters allow for the buy/sell pressure to run its course. That 10 Paise did exactly that then, and now. So, a pivot is chiefly a function of buy/sell exhaustion.
To bring in the 30 min variation here, yesterday 30 min bars gave visually clear two pivots where we moved our stops.
Today it didn't do it quite so well, despite there being 3 or even 4 sideways 30 min bars. When it seemed as if there would be one at 4023 around 12.30 PM, the next bar negated it.
So now there is a choice. And the choice is what the eye sees clearly, without any doubt. Yes, 60 min is stronger than 30 min, but the strong moves that follow a 30 min pivot would make that pivot a strong enough pivot to trade.

I personally did not see such a clear 30 min pivot today and my SAR remained at 3980. It may get blown today...or tomorrow at a gap, but that's the way my eyes see it. Today the bottom around the same level appears like a clear pivot.

I guess the point of this post is: This system is about what our eyes tell us. No more and no less. Through all the discussions here of major/minor/decent/indecent pivots, Saint seems to have said what I have written here.
I guess learning is about listening...whichever way it makes sense.

Amit.

I am in the same boat Amit sir. Many a times I have had entry & exit points different than Saint but I have stopped posting my levels to avoid creating any confusions on this thread. Though I am making handsome profits even without the tweaks, but I do recommend people to understand tweaks and follow them well, the entries & exits become much sweeter than

But remember follow tweaks only if you understand them, otherwise one fine day you will be left holding nothing but your head in your hands.

You can afford to be right or wrong in the market sometimes but only sin is to be confused in markets, never reach that stage

Regards

 

[milkyblack]

Saint pls explain how both will benefit whether long or short. Is that because both are taking respective positions based on system and therefore there is a reason ans reason never fails?

Well... reasons do fail... and that is why we have the SL... here of course to reverse...

Both of the traders will make money... how? As if the 30 min trader is right... then the market will move down... to take out the 60 min trader stop... the stops of 30 min and 60 min is not that far.... and then the 60 will also join the party...

If the 60 min is right then 2 cases for 2mw... either directly without forming any other pivot either on 30 or 60 the initial stop is taken... in that case it will NOT pinch the 30 min trader as s/he was already prepared for it... and will join the party...the 60 min trader (without tweaks) will just be happy and nothing else...

Case 2 if lower PH is formed on the 30/60 ... .then 30 min trader will be happy... as now the risk is less.. and if then taken off... s/he will join the party!

Both the traders had reasons to be long/short... knowing very well that the reasons are just to take a trade... and nothing else... not to think if RIGHT or WRONG...

Traders do not prove to anyone... that see I told you... Dude/Babes .... Now was the time to use 30 or now was the time not to use 30...

Like any other human being traders want to have a goodnight sleep...

So the trader takes a decision based on that....

Someone might even have SL at 3942 in that case... a so to speak... hard core 60 min follower... even s/he will make profits....

Regards

 

[AmritaBasu]

Well... reasons do fail... and that is why we have the SL... here of course to reverse...

Both of the traders will make money... how? As if the 30 min trader is right... then the market will move down... to take out the 60 min trader stop... the stops of 30 min and 60 min is not that far.... and then the 60 will also join the party...

If the 60 min is right then 2 cases for 2mw... either directly without forming any other pivot either on 30 or 60 the initial stop is taken... in that case it will NOT pinch the 30 min trader as s/he was already prepared for it... and will join the party...the 60 min trader (without tweaks) will just be happy and nothing else...

Case 2 if lower PH is formed on the 30/60 ... .then 30 min trader will be happy... as now the risk is less.. and if then taken off... s/he will join the party!

Both the traders had reasons to be long/short... knowing very well that the reasons are just to take a trade... and nothing else... not to think if RIGHT or WRONG...

Traders do not prove to anyone... that see I told you... Dude/Babes .... Now was the time to use 30 or now was the time not to use 30...

Like any other human being traders want to have a goodnight sleep...

So the trader takes a decision based on that....

Someone might even have SL at 3942 in that case... a so to speak... hard core 60 min follower... even s/he will make profits....

Regards

thanks for the prompt reply umm u r not saint right?milky balck is a separate person right?

 

[Saint]

thanks for the prompt reply umm u r not saint right?milky balck is a separate person right?

Quite sure Milky is not me,Amrita....

Saint

 

[nagendra_gb]

Tomorrow seems like Gap down.. we are long in reliance capital and Aban .. surely reliance capital will open below our stoploss. So we are going to revert back to shorts below first five min bar am i right..