Going With The 60min Flow!!!

[moneygurukul]

thanks for reply,

i didnt mean to derieve price value from nifty spot. but only wanted to point out that how it would be if we look at spot chart pivot and thn compare tht pivot to future chart and decide a stoploss on the basis of tht pivot(of future).

hope i m clear enough....

kripal

Sometimes it is possible that Futures chart may give an entry/exit prior to spot price or vice versa due to change in premium/discount levels.

Premiums and Discounts change with sentiments. Technical Analysis is a trading tool solely based upon behaviour of market players. Hence, if sentiments have changed (as reflected on futures charts), the underlying is supposed to follow suit sooner or later. Therefore, it hardly matters if all the trades are executed using futures chart only.

IMHO, it does not matter which chart is being tracked till the time consistency is maintained.

 

[rkkarnani]

Indeed. Which is why I mentioned our usage of sept charts for october. Oct nifty was rs.40 higher than sept at one point, but we stuck to our rule of "waiting for the SAR to trigger in the sept chart and executing the actual trade in oct manually, no matter what the price".

Could a similar strategy be employed? Honest doubt.



We have changed the rules before though lol.

Sec5, when we use a Month1 , month2 month3 chart, there is no such thing as Sep, or Oct charts, its always the current month chart and it is seamless and then there is no place for any doubts!!!!
And to me here and many more the biggest thing is : SAINT uses the seamless charts on which his strategy is based!!!!
Then there are traders here who simply exit on closing day , do not roll over and reenter on Pivot break on day one of the new contract or after!!! Basic rules are there and minor deviations done by individuals!!! We discuss here the rules laid down here so that the confusion is minimum!!!

 

[ThE HaMmEr]

I don't know. On the one hand, the prem/disc is a great tool to judge market sentiments, but on the other, you have freak trades and roll over profiteering etc sullying the value/chart of the derivative.

Aren't there some traders on traderji who actually trade futures with the spot chart? Similar to how we used the sept chart for oct SAR/adds.

by looking at premium and discounts u can not judge markets.........

yesterday premium was 50 pts......but we were short........

and about the rollover........i always do it 2-3 days b4 d rollover day.......i may loose only 5-6 pts.....and most of the times even less..........

if doing it d last day.....u saw wat happ yesterday

nd we only look at d futures chart....no looking at d spot chart.....

coz dats d thing we trade......we donn trade nifty spot ritee ????



regards......

hope all things clear....just my views....

 

[Satyen]

thanks for reply,

i didnt mean to derieve price value from nifty spot. but only wanted to point out that how it would be if we look at spot chart pivot and thn compare tht pivot to future chart and decide a stoploss on the basis of tht pivot(of future).

hope i m clear enough....

kripal

As we have a discussion early morning and finalise we should go continuos chart .... Rk Amitji has posted some good material on this

Regads
Satya

 

[rkkarnani]

hello sir

yes, you are right. but when we find ourselves in situation that we had faced this morning about stoploss, i think referring to spot and compare tht spot pivot with both oct, sept, and thn move the stoploss to the one which is more in sync wit spot.Though following continuous was another(better) idea and thts where we got a clearer stoploss.

kripal

Kripal, This is not the first derivative closure we have faced after the start of this thread!!!! Frankly the confusion did surprise me... but then i realised that more people must have entered actual trades, graduating from paper trades!!! Hence the confusion was more!!!! I am quiet clear in my mind about using the month1 chart always!!!!

 

[Sec 5 (Pyr)]

...it is about deciding what levels to be used here in this strategy!!!...We do not judge anything mkt sentiment, nuke deal, dow nasdaq level, nikkie hang sheng, nothing is taken into account... we just allow the market to move us in its own direction , in the direction of its flow!!!!

Exactly as you said, since we don't care about sentiment and news, isn't that MORE of a reason to remove the prem/disc from the equation and look at spot nifty?

Also the strategy is the flow. And surely, the smoother the flow the better. It could be argued that spot might be more smooth even.

IMHO, it does not matter which chart is being tracked till the time consistency is maintained.

Fully agree.

And to me here and many more the biggest thing is : SAINT uses the seamless charts on which his strategy is based!!!! Basic rules are there and minor deviations done by individuals!!! We discuss here the rules laid down here so that the confusion is minimum!!!

Rk talking about not deviating lol, jk mate.

 

[Sec 5 (Pyr)]

Now is definitely not the best time to be discussing this spot stuff, must leave that for after market hours.

Anyone else surprised by the new "pivot high" of 4083+15? Doesn't really follow the five finger rule(unless you pointer is longer than your middle finger). Nor is it an overly obvious visual pivot.

 

[rakeshluthra430]

Sec 5,
You seem to know a lot about RK even though you have registered a few days back.....anyways thats not our problem.

Coming to Spot Vs Futures....if you can trade the Futs looking at Spot..great, please continue. Just backtest a bit to see if any good advantages accrue so that we may also benifit.

And when we talk about deviations, they evolve over time to make the system more adaptive to repetitive patterns...and not out of hunches.

Hope to learn from your vast experience.

Rakesh

 

[rkkarnani]

Exactly as you said, since we don't care about sentiment and news, isn't that MORE of a reason to remove the prem/disc from the equation and look at spot nifty?

Also the strategy is the flow. And surely, the smoother the flow the better. It could be argued that spot might be more smooth even.



Fully agree.



Rk talking about not deviating lol, jk mate.

You caught me!!!!!! but a bit late, a few days earlier it wud indeed be a joke, not any more!!!
Good to know that u have been on the thread for long!!!! So no need to tell u about the consistancy!!! We have been consistantly using the Futures chart, the seamless one, the very same chart by which historical analysis was done!!!!
And also I (we) believe the premium / discount factors in the sentiment/news etc. and above all as said before : Saint developed the strategy based on Futures chart!!!
No harm at all if some one uses the spot chart!!! But as you must have noticed that I have stopped discussing the deviations, so would advise others too to discuss personal preferences through PM only for the sake of others here on the thread.

 

[Sec 5 (Pyr)]

And when we talk about deviations, they evolve over time to make the system more adaptive to repetitive patterns...and not out of hunches.

They all start out as hunches, surely.

Anyway, my idea was just to throw this idea into the open. If you guys still prefer the futures charts after hearing this "new" idea, then you must have your reasons. Oh well, no harm no foul.

Hope to learn from your vast experience.

You can cut through that sarcasm with a butter knife...

But as you must have noticed that I have stopped discussing the deviations, so would advise others too to discuss personal preferences through PM only for the sake of others here on the thread.

Gotcha. But I kinda have immunity, being a newbie and all, nobody's gonna follow my advice lol!

Also, about the latest pivot, are we in aggressive mode now? Because like I said it doesn't really look like a 60min pivot.