Going With The 60min Flow!!!

[SamFisher]

Just a unrelated question...
Since markets going to close at 11:25, if i put a stop loss order, when it reopens at 12:10, will it be still there? or do i have to re-order?

I have to go out for sometime. Just want to leave it at auto pilot for some time !

 

[Czar]

Sam your stop will be there but if it gaps down, it will trigger at whatever price it opens...

 

[rakeshluthra430]

Dear Amit Sir after reading this post some days back .... just wanted to see how GAPs occures it is amazing to see if market GAP up/Down to near about previous important pivot area then how first 5 min bar decides the move........
may be we can conclude some trading rule for this

waiting your valuable comments on this......

Regards
Satya

Hi Satya,
Indeed a good observation...even I noticed it, but let me tell you..this is more prominent in Stock charts rather than Nifty. You look at any stock chart and you will realise what I am saying.

So what do we do now?? Say the support on Nifty is 3800 (just an example)....we open at about 3800 and then break the first 5 min low. So what do we think...are we going to book profits here looking at the EOD charts or we add to shorts as per hourly? It will certainly put us in a dilemma.

Another thing to realise is that since we rely HEAVYLY on adds, even once the eod levels dont hold....all the gains that we would have made by booking profits in other similar trades will go for a toss.

And I am not even talking about interrupting the flow...creating confusions in our minds....second guessing the system etc.

So my take is...ignore it. Go with the flow. Even if that means missing attractive levels to book profits...so be it. But in case someone HAS to do something, he can at best buy a call/put at those levels depending on his risk appetite.

Thats my take though....even if that means missing an opportunity to book some good profits. (BTW...I observed a trade on 60 min in the Jan fall.....an attractive level on 60 min was 5000 (psychological level too)....had we booked profits there, and missed the further move down...alll the advantage gained during 2007 would have gone).

Thanks....and thats OK if you...or anyone else disagrees to what I have said.

Rakesh

 

[kapil123]

Just a unrelated question...
Since markets going to close at 11:25, if i put a stop loss order, when it reopens at 12:10, will it be still there? or do i have to re-order?

I have to go out for sometime. Just want to leave it at auto pilot for some time !

The order will be there, and there is no need to re-enter the the stop loss order.

 

[milkyblack]

Thanks yes evrything fine now

Regards
Satya

Good to hear Friend everything is fine now!



Regards

 

[Satyen]

Satya, u mean it is a Pivot level, calculatation based on previous days OHLC!!!??

sorry dear RK its visual Pivot in daily chart no calculation


Regards
Satya

 

[lvgandhi]

Can some one, who is trading 60 min flow in the following futures, please post the SAR and ADD room
ABAN
GMRINFRA
JPASSOCIAT
LT
POWERGRID
RELCAPITAL
UNITECH

 

[rakeshluthra430]

Stops for the current Shorts remain at 4244+15. An add to shorts would happen at 4134-7.

Please Note: these are levels on the Sep Futures, though our positions are in Oct contract. We monitor the Sep levels and trigger our trades in Oct one...hope all are clear on this.

Rakesh

 

[Czar]

Aban SAR 2460 + 20 = 2480 ? (Oct)

 

[AMITBE]

Can some one, who is trading 60 min flow in the following futures, please post the SAR and ADD room
ABAN
GMRINFRA
JPASSOCIAT
LT
POWERGRID
RELCAPITAL
UNITECH

Hi LVG, I'm in NF and ABAN.

NF Sep. SAR 4259 includes filter. Adds not yet
ABAN Sep SAR 2472 includes filter. Adds 2340, but do so in Oct series.