Going With The 60min Flow!!!
- Thread starter Saint
- Start date
- Tags 60 minute discussion flow method nifty futures saint
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Hi Satya,
Gone through the chart u posted... if not looking for gaps! Your pivots in my view are just perfect
But as I already mentioned to you, I do not beleive much in backtesting! Yes it is necessary to just have a plan or a method but in reality the trading is really different! Backtesting is to give one a confidence on the method! But implementation is different game all together! Backtesting is good to have a rough estimate that how much the method has given profit/loss drawdowns etc to suit our risk to reward ratio!
Just imagine a situation....
You are long at 4165 with initial SL of 4010
Now the price moves up to say 4255 and then starts falling and goes below the buying price of 4165... TO FORM A NEW HIGHER PIVOT LOW OF 4090 and after that again moves up to 4270 and then moves down TO FORM A NEW HIGHER PIVOT LOW at say 4200(now the trade is profitable)
This process of forming HIGHER PIVOT LOW makes your PAPER PROFITABLE trade into PAPER LOSS TRADE... where if held then comes the ACTUAL PROFIT....
This process in backtesting looks so simple.... when we are at the middle of the chart!
But we trade the end where the price has not happned but happening!
As Saint has already mentioned 60min trading is simple(indeed I find very simple) but not easy(I find not at all easy)!
Why I find very simple is because of Saint defined the rules so clearly!
Why I find not at all easy as I do not have the sound psychology like Saint
Just expressed my views Open to everyones views to learn and share!
Regards
Gone through the chart u posted... if not looking for gaps! Your pivots in my view are just perfect
But as I already mentioned to you, I do not beleive much in backtesting! Yes it is necessary to just have a plan or a method but in reality the trading is really different! Backtesting is to give one a confidence on the method! But implementation is different game all together! Backtesting is good to have a rough estimate that how much the method has given profit/loss drawdowns etc to suit our risk to reward ratio!
Just imagine a situation....
You are long at 4165 with initial SL of 4010
Now the price moves up to say 4255 and then starts falling and goes below the buying price of 4165... TO FORM A NEW HIGHER PIVOT LOW OF 4090 and after that again moves up to 4270 and then moves down TO FORM A NEW HIGHER PIVOT LOW at say 4200(now the trade is profitable)
This process of forming HIGHER PIVOT LOW makes your PAPER PROFITABLE trade into PAPER LOSS TRADE... where if held then comes the ACTUAL PROFIT....
This process in backtesting looks so simple.... when we are at the middle of the chart!
But we trade the end where the price has not happned but happening!
As Saint has already mentioned 60min trading is simple(indeed I find very simple) but not easy(I find not at all easy)!
Why I find very simple is because of Saint defined the rules so clearly!
Why I find not at all easy as I do not have the sound psychology like Saint
Just expressed my views
Open to everyones views to learn and share! Regards
Last edited:
Hi,
78.25 was not violated once formed pivot low, as it got activated only after 1400, and after 1400 78.25 was not violated!
78.25 was violated at 1100, when we had a SL of 76.45
Regards
78.25 was not violated once formed pivot low, as it got activated only after 1400, and after 1400 78.25 was not violated!
78.25 was violated at 1100, when we had a SL of 76.45
Regards
PL of 78.25 was fixed by 11am today after which it was violated when price went to 77.8. That's where the play room comes into picture.
regards,
vin
Hi Satya,
Gone through the chart u posted... if not looking for gaps! Your pivots in my view are just perfect
But as I already mentioned to you, I do not beleive much in backtesting! Yes it is necessary to just have a plan or a method but in reality the trading is really different! Backtesting is to give one a confidence on the method! But implementation is different game all together! Backtesting is good to have a rough estimate that how much the method has given profit/loss drawdowns etc to suit our risk to reward ratio!
Just imagine a situation....
You are long at 4165 with initial SL of 4010
Now the price moves up to say 4255 and then starts falling and goes below the buying price of 4165... TO FORM A NEW HIGHER PIVOT LOW OF 4090 and after that again moves up to 4270 and then moves down TO FORM A NEW HIGHER PIVOT LOW at say 4200(now the trade is profitable)
This process of forming HIGHER PIVOT LOW makes your PAPER PROFITABLE trade into PAPER LOSS TRADE... where if held then comes the ACTUAL PROFIT....
This process in backtesting looks so simple.... when we are at the middle of the chart!
But we trade the end where the price has not happned but happening!
As Saint has already mentioned 60min trading is simple(indeed I find very simple) but not easy(I find not at all easy)!
Why I find very simple is because of Saint defined the rules so clearly!
Why I find not at all easy as I do not have the sound psychology like Saint
Just expressed my views Open to everyones views to learn and share!
Regards
Gone through the chart u posted... if not looking for gaps! Your pivots in my view are just perfect
But as I already mentioned to you, I do not beleive much in backtesting! Yes it is necessary to just have a plan or a method but in reality the trading is really different! Backtesting is to give one a confidence on the method! But implementation is different game all together! Backtesting is good to have a rough estimate that how much the method has given profit/loss drawdowns etc to suit our risk to reward ratio!
Just imagine a situation....
You are long at 4165 with initial SL of 4010
Now the price moves up to say 4255 and then starts falling and goes below the buying price of 4165... TO FORM A NEW HIGHER PIVOT LOW OF 4090 and after that again moves up to 4270 and then moves down TO FORM A NEW HIGHER PIVOT LOW at say 4200(now the trade is profitable)
This process of forming HIGHER PIVOT LOW makes your PAPER PROFITABLE trade into PAPER LOSS TRADE... where if held then comes the ACTUAL PROFIT....
This process in backtesting looks so simple.... when we are at the middle of the chart!
But we trade the end where the price has not happned but happening!
As Saint has already mentioned 60min trading is simple(indeed I find very simple) but not easy(I find not at all easy)!
Why I find very simple is because of Saint defined the rules so clearly!
Why I find not at all easy as I do not have the sound psychology like Saint
Just expressed my views
Open to everyones views to learn and share! Regards
Hi
MB ... yes i do understand backtesting and real implimentaion is two diferent thing even happend today to me i did not gone long even we had a pivot at 3914
but in the process of looking at past chart and
looking at different market condition we can better learn about different types of pivots so when it will happen again we will have not hesitation to call it a PIVOT
As rakesh rightly point out how i missed 2/3 pivots now again confusion arising on consolidation i know with chating each other we can have some conclusion
That is the reason i am posting charts and will post at least for 6 months data
i m in rush wil c u 2moro bye.........
Satya
I appreciate that you are posting the last 6 months charts... I am not at all saying that it is of no use! It is really useful, I completely understand your intention and that is to gain confidence! I am sure you will gain it! Plz let me know if I can come of any help
C u have a grt time Bye!
Regards
C u have a grt time Bye!
Regards
Satya and Milkyback I have 3 queries regarding Pivots, as you have been practicing Saint's methods so thought you would be the best judges:-
1. Do we need to have 2 lower highs preceding and following the highest bar to make it pivot or does a 3 bar pattern also count as a valid Pivot.
2. Is it necessary to clear the pivot high before the low can be considered a pivot low or can we form a lower pivot high before crossing the previous pivot high.
3. During consolidation we may have many pivot highs and lows and may get chopped around on both sides, is there any way to identify consolidation
Thanks in advance and hope Saint will also throw some light on these points
Regards
1. Do we need to have 2 lower highs preceding and following the highest bar to make it pivot or does a 3 bar pattern also count as a valid Pivot.
2. Is it necessary to clear the pivot high before the low can be considered a pivot low or can we form a lower pivot high before crossing the previous pivot high.
3. During consolidation we may have many pivot highs and lows and may get chopped around on both sides, is there any way to identify consolidation
Thanks in advance and hope Saint will also throw some light on these points
Regards
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