Going With The 60min Flow!!!

[rakeshluthra430]

Nothing like that,VPS........anyone can ask anything and many of the seniors here would try to help.

Think Rakesh had already answered the query.

Saint

VPS,
Just go back by 2 posts from your post....you will find my answer.

 

[psj]

Can we change the SAR to 4145 - 15 = 4130?

 

[vpsarathy]

Nothing like that,VPS........anyone can ask anything and many of the seniors here would try to help.

Think Rakesh had already answered the query.

Saint

SAINT,

I presumed what I presumed. I feel the proposal was a right one to prevent unnecessary 'noise' here. Let nominated seniors have appropriate discussions without agressive or low speed groups. We can all learn a lot. With too much clutter we lose track of whats happening.

Pl consider my view for whatever it is worth

vps

 

[Saint]

Hmmmm......

Thought I was the only one supposed to be in SILENT mode.........looks like it's all the Seniors except Rakesh and Tane(hope you don't mind that.....too long!!)

Saint

 

[AMITBE]

Basically the 60min Flow trade is supposed to be as little "YOU" as possible..........so we zoom out the charts,and change direction only when something clear cut happens.

VISUAL GAP:What is this nonsense?A gap is a gap is a gap.......Yes,again,my way of telling: Don't micro manage.Don't try to measure the gap...2% or 5%(we believe in exacts,Saint......by visual,you mean 2% or 1%....no ,no,go by the eye,I say.......aw c'mon,Saint...too vague,subjective.....we believe in precision,backtesting,mechanising,etc.......you believe in the EYE ???!!!)

A visual gap is a gap that is obvious on the 60min chart,either by zooming out the chart or by visualisng it across the room.....Apologies for this in the present technofancy world we live in......I believe in the magic of trading,the art,the beauty.....not the dry scientific putting in numbers,and getting some lines and arrows......and Buy/Sell signals.

Thought it best to define me.....so that the next time,someone asks me about the science,.....the dry arid logic,.............cold,hard,facts.....the response would be zilch.Apologies in advance.

Back to topic.......a visual gap is that gap that is obvious to the naked eye from across the room.

Gaps in the direction of the preexisting trend

1.We are long a trade,day 1,2,3,4.......big moves on the 60......trade gets vertical.....wrb's one after another....market shuts and opens with a big visual gap up.Allow the 1st bar to form,put your stop below that bar (with a bit extra) and reverse to short when triggerred.

2.Same as 1 for shorts.

3.All other gaps in the direction of the trend......nothing to be done.Once the day progresses and pivots form,the latest pivot low can become the new recent stop and reverse point.

So long as gaps are in the direction of the trend.........nothing except in case 1 to be done about it.Treat it as if it were a strong move up if that makes you feel better.But when the NIFTY gaps up 150pts,we ache to put that 50-60k in the pocket.And then we mess it up trying to get in lower and give back half or more.Stick to the plan........We want as much of the meat as possible out of that trend move.And in that,we are willing to leave a lot on the table.

The question you have to ask is:Can you do it?Do you have the stomach and capital and mental fortitude to pull it off?If the answer is yes,.....great.If the answer is no,.....are you sure that the method is faulty.Or is the fault in the organ between the two ears?

More in the next.

Saint

Thanks for a candid reply!!! I had not enquired about what would be your action but our action!!! I meant action as per the rule mentioned by you... Thing was not clear as initially i assumed you meant multiple bars in our direction, where as u meant what you had written, Day 1 2 3 4 in our direction!!!!
If what you have written is the original rule, it seems to have been changed recently and I have overlooked it as Saint had initially advised to reverse only with the help of a Pivot in case of a Gap up in the direction of the trade!!!!
Regards
R K Karnani

Hi RKK...there you go. That should be quite obvious now.

The trade has not moved without faltering, in our direction has it...except late day yesterday...that too after sinkinging into the pits first.

The way I see it, let it go up without serious obstacles, then give a blow out
rally on 60 mins, then give a huge gap in our direction....at that point do the first 5 min bar thing.

I thought you knew the answer, and if so, I don't quite see the virtue in your query.

But if not, then I hope my reply helped.

And also, I'm personally not aware of Saint changing any rules recently. If anything he gets the team to respond when a crisis blows.

Amit.

 

[milkyblack]

After 12.30 I will change my SL to 4130 ...
30 min pivot!

Regards

 

[tanewbie]

Re: Questions from juniors on"Going with 60minute flow"

TATA STEEL Futures 5 mins and 60 mins chart.

 

[rakeshluthra430]

Hmmmm......

Thought I was the only one supposed to be in SILENT mode.........looks like it's all the Seniors except Rakesh and Tane(hope you don't mind that.....too long!!)

Saint

Add point coming up at 4237...move the stops up to 4145-15, IF THAT ADD HAPPENS.

 

[musicjunkie]

once this bar completes we may move stops to LOD. Lets see how it turns out

EDIT: mmm...MB,MJ, Rakesh all post at about the same time on stops...
MJ-

 

[Saint]

Hi RKK...there you go. That should be quite obvious now.

The trade has not moved without faltering, in our direction has it...except late day yesterday...that too after sinkinging into the pits first.

The way I see it, let it go up without serious obstacles, then give a blow out
rally on 60 mins, then give a huge gap in our direction....at that point do the first 5 min bar thing.

I thought you knew the answer, and if so, I don't quite see the virtue in your query.

But if not, then I hope my reply helped.

And also, I'm personally not aware of Saint changing any rules recently. If anything he gets the team to respond when a crisis blows.

Amit.

No rule change.....all as before.

A rule add though to maximise........we have an uptrend that is obviously higher pivot highs and lows on the 60min,multiple days,then WRB's......and then a monster gap up.Reversal at the first bar low-room of Rs20.

We always knew that this type of Gap will cover in a hurry and start a reversal.........just a way to get "reversed" earlier.

All the best!
Saint