Going With The 60min Flow!!!
- Thread starter Saint
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- Tags 60 minute discussion flow method nifty futures saint
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Hi Satya,
I knew you,Prabhjeet and a few others would hold on to the 60min Flow,without the 30min tweak...........and would therefore be holding shorts overnight.Nothing wrong with that at all.
The 60min chart is what we trade......the 30min chart comes in only when we get a vertical move down/up with no pivots,gap dn/up or sideways moves ,as in 2-3 bars on the 60.......then only do we hunt for Pivots on the 30.
Satya,as you keep trading,you will come across the 2 worst enemies of the Flow Trader.........we have all met Enemy 1--GAPS---and we have formulated a few methods to manage that Foe.For example,even if the gap is way against us,we would still wait for that first bar to get taken out...Else we are holding and probably adding.Another example is a Gap below Pivot and we are reversing and probably capitalising if that first bar is taken out.....so on so forth.
Now,enter ENEMY 2----the V-PATTERN----if you were to trade the 60min charts only,you will come face to face with this one.......For a Flow Trader who needs Pivots to Reverse,this Pattern is a killer.Imagine a superb downtrend,we are in short and then comes a crash in NIFTY(like Jan2008).Imagine you are hard core on the 60min Flow without the 30min modification.......you get a vertical fall and you get a vertical rise,forget the fact that you have given back all your gains,worse,the pivots don't just come and when in frustration you turn to longs,the market dumps!!It is the 30min tweak that made that day one of the best days in trading this year and it's a great weapon to have in your armoury.We already have the 2 bar reversal method for vertical moves..........but nothing beats the conviction that a pivot can give us,therefore the need to drop a time frame.....NIFTY especially can move in big moves when trending and the 60min will hardly give you a pivot,and that can be painful..........not asking you to change the way you do things,but asking you to examine the use of a slightly lower time frame,....not always,but at certain key moments.
Ideal scenarios do work in ideal conditions........but the market tends to throw up more than ideal conditions and one has to deal with it.Therefore these various modifications to a method,like the 30min modification to the 60min Flow.........it is to be used only in a scenario of gaps,or vertical moves,or sideways moves when you need more clarity,and not to be used on a minute to minute basis.
Are you wrong in holding the 60min Flow short overnight......not at all.....are you deviating away from the basic content of this thread.....not at all.What you are doing is very much part of this thread.
What I consider as deviation is when one group tries to prove the other wrong and adamant to get their ways.......Both groups within this thread have to understand that they are both correct.And be happy about it. ....But the general method of this thread will continue as a 60min Flow with a 30min adjustment.Because that's what I am doing.......
Importantly,if you are trading only the 60min Flow ,stick to that.....Yes,you had no reason then to get long,and you would have reversed and gone long today......great.What you have to figure out over time is how you are going to manage that vertical fall and rise maximising gains and reverting in time,without dropping a time frame...........Homework for the weekend.
As always,great stuff from you,my friend........well done!
Saint
I knew you,Prabhjeet and a few others would hold on to the 60min Flow,without the 30min tweak...........and would therefore be holding shorts overnight.Nothing wrong with that at all.
The 60min chart is what we trade......the 30min chart comes in only when we get a vertical move down/up with no pivots,gap dn/up or sideways moves ,as in 2-3 bars on the 60.......then only do we hunt for Pivots on the 30.
Satya,as you keep trading,you will come across the 2 worst enemies of the Flow Trader.........we have all met Enemy 1--GAPS---and we have formulated a few methods to manage that Foe.For example,even if the gap is way against us,we would still wait for that first bar to get taken out...Else we are holding and probably adding.Another example is a Gap below Pivot and we are reversing and probably capitalising if that first bar is taken out.....so on so forth.
Now,enter ENEMY 2----the V-PATTERN----if you were to trade the 60min charts only,you will come face to face with this one.......For a Flow Trader who needs Pivots to Reverse,this Pattern is a killer.Imagine a superb downtrend,we are in short and then comes a crash in NIFTY(like Jan2008).Imagine you are hard core on the 60min Flow without the 30min modification.......you get a vertical fall and you get a vertical rise,forget the fact that you have given back all your gains,worse,the pivots don't just come and when in frustration you turn to longs,the market dumps!!It is the 30min tweak that made that day one of the best days in trading this year and it's a great weapon to have in your armoury.We already have the 2 bar reversal method for vertical moves..........but nothing beats the conviction that a pivot can give us,therefore the need to drop a time frame.....NIFTY especially can move in big moves when trending and the 60min will hardly give you a pivot,and that can be painful..........not asking you to change the way you do things,but asking you to examine the use of a slightly lower time frame,....not always,but at certain key moments.
Ideal scenarios do work in ideal conditions........but the market tends to throw up more than ideal conditions and one has to deal with it.Therefore these various modifications to a method,like the 30min modification to the 60min Flow.........it is to be used only in a scenario of gaps,or vertical moves,or sideways moves when you need more clarity,and not to be used on a minute to minute basis.
Are you wrong in holding the 60min Flow short overnight......not at all.....are you deviating away from the basic content of this thread.....not at all.What you are doing is very much part of this thread.
What I consider as deviation is when one group tries to prove the other wrong and adamant to get their ways.......Both groups within this thread have to understand that they are both correct.And be happy about it. ....But the general method of this thread will continue as a 60min Flow with a 30min adjustment.Because that's what I am doing.......
Importantly,if you are trading only the 60min Flow ,stick to that.....Yes,you had no reason then to get long,and you would have reversed and gone long today......great.What you have to figure out over time is how you are going to manage that vertical fall and rise maximising gains and reverting in time,without dropping a time frame...........Homework for the weekend.
As always,great stuff from you,my friend........well done!
Saint
Thank You Saint
Regards
Satya
Thank God for that....
On second thoughts...it doesnt matter at all. It more important to be confident than to be right...to make money in this market. You may or maynot be proved right today or tomorrow...but if you follow your strategy consistently..you will ALWAYS be right in the long run.
Thank you Saint..the journey has just started.
Rakesh
On second thoughts...it doesnt matter at all. It more important to be confident than to be right...to make money in this market. You may or maynot be proved right today or tomorrow...but if you follow your strategy consistently..you will ALWAYS be right in the long run.
Thank you Saint..the journey has just started.
Rakesh
Regards
Satya
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