Going With The 60min Flow!!!

[milkyblack]

Hello all,

Sorry cannot give time to calculations and everything, will do as and when get some time
NF we are long and go short below 3816.

Regards

 

[milkyblack]

Saint,

Market looks like in range of abt 300pts. In this case 60min SL may get triggered many times and turn out to be not profitable.
What should be the strategy now? Stick to the plan, as once the market breaks the range, being 60min trader we will get before the break? Or give benefit to a ranging market and stay out?
Hope it breaks the range soon

Regards

 

[Saint]

Saint,

Market looks like in range of abt 300pts. In this case 60min SL may get triggered many times and turn out to be not profitable.
What should be the strategy now? Stick to the plan, as once the market breaks the range, being 60min trader we will get before the break? Or give benefit to a ranging market and stay out?
Hope it breaks the range soon

Regards

If in Flow,never out......sideways or range bound moves will stop you out a few times,but the trend move and the adds along the way more than make up for it.

Saint

 

[Prabhjeet]

1-Its better and clear pivot but not mandatory you can check we have a pivot on 5th june

2/3 - i am attaching two chart how we can differenciate between pivot low and consolidation
yes i have erased two bars at red arrow in first chart and second one is the complete chart this was explained to me by Saint in this thread and cud not find the link / chart so i m trying with my chart ..

Regards
Satya

its boring too many times have to delete previous charts

Thanx Satya and Vinst regarding pivots but Satya I am not still able to get consolidation into my head. Look its alright to say that it was a consolidation when we have 5-7 bars after consolidation but think of it that when we are in a trade and watching each and every andle being formed, will we be able to give away our paper profits thinking that this is just a consolidation because according to our pivot rules many pivots however small will be formed in that consolidation, so how are we going to ignore these pivots.

I would request Saint again to please throw some light on pivots in sideways trend

Regards

 

[Saint]

Had not posted the updates.....shall do it a while later.Meanwhile,entered into LANCO INFRA at 268.And planning to enter RNRL at 66.

Shall go into the full details later..


Saint

ps:JP finally stopping and reversing today at 145

 

[uasish]

Thanx Satya and Vinst regarding pivots but Satya I am not still able to get consolidation into my head. Look its alright to say that it was a consolidation when we have 5-7 bars after consolidation but think of it that when we are in a trade and watching each and every andle being formed, will we be able to give away our paper profits thinking that this is just a consolidation because according to our pivot rules many pivots however small will be formed in that consolidation, so how are we going to ignore these pivots.

I would request Saint again to please throw some light on pivots in sideways trend

Regards

That is the Trade Off,whenever we are following a Method,becoz when you get the Trending phase the subsequent additions will give you sufficient to set off those 'Oppurtunity Lost'.
However it always depends on one's perception,if you dont feel comfortable OK no harm try to change your Time Frame or booking some or etc,what suits you best.

 

[Prabhjeet]

That is the Trade Off,whenever we are following a Method,becoz when you get the Trending phase the subsequent additions will give you sufficient to set off those 'Oppurtunity Lost'.
However it always depends on one's perception,if you dont feel comfortable OK no harm try to change your Time Frame or booking some or etc,what suits you best.

Ashish da even I was thinking on the same lines that we have to accept these whipsaws as the unavoidable losses that should be compensated once we get strong trends.

I had read a book by Joe Ross which uses more or less same methods like Saint's Pivot method but he calls them ROSS. He has used certain conditions to define CONGESTION i.e. it occurs when we have a wide range bar and then the next 4 -5 bars close within the range of the high-low of this wide range bar. Second scenario is when we have W sort of open close pattern for few days that is suppose we close at open at 110 and close at 100 in one bar then we open at 100 and close at 110 on next bar then on subsequent bar we close at 100 and then 108 and 102 etc,etc so that defines the congestion and we should take the last pivot as a consideration then.

However I wanted experienced Saint's views, he has been using this method himself for past so many years so he would be the best guide

 

[Prabhjeet]

Meanwhile,entered into LANCO INFRA at 268.


Saint

ps:JP finally stopping and reversing today at 145

Stoploss for LANCO AT 241??

regards

 

[Saint]

Ashish da even I was thinking on the same lines that we have to accept these whipsaws as the unavoidable losses that should be compensated once we get strong trends.

I had read a book by Joe Ross which uses more or less same methods like Saint's Pivot method but he calls them ROSS. He has used certain conditions to define CONGESTION i.e. it occurs when we have a wide range bar and then the next 4 -5 bars close within the range of the high-low of this wide range bar. Second scenario is when we have W sort of open close pattern for few days that is suppose we close at open at 110 and close at 100 in one bar then we open at 100 and close at 110 on next bar then on subsequent bar we close at 100 and then 108 and 102 etc,etc so that defines the congestion and we should take the last pivot as a consideration then.

However I wanted experienced Saint's views, he has been using this method himself for past so many years so he would be the best guide

Prabhjeet,

Do give an example so that we are both on the same page before giving you a reply.

Saint

ps:You guys know so much,reading and understanding is great........but to be able to quote,compare,contrast off hand......fantastic.But sometimes,I wonder if the "full cup" prevents us from "seeing".

 

[Saint]

Stoploss for LANCO AT 241??

regards

Yep,...too far for many,but these are 60min trades.

Saint