Going With The 60min Flow!!!

[rkkarnani]

Saint,
Re: 4 bar rule
Missed the wonderful action today due to power outage at my place. Was going thru the posts on mini-flow and 60-min, as it has now become my lifeline. Learned another nuance of 4-bar rule. In mini-flow today, there were 5 bars from the start with all making progressive lows but the last bar was green and also took out the high of 4th bar. Normally I would not have considered this as the next bar in this series of down bars and would have kept the stop at high + filter of the 2nd bar and not brought it down to high + filter of the 3rd bar. This concept of shifting the stop to 3rd bar when the low of the 4th bar is taken out was not known to me. And this was the turning point of todays trade.

Now extending this to the 60-min flow today, we had a steep down move so the 4-bar rule kicks in here also. Here first three bars are making LH and LL but the 4th bar took out the low of 3rd bar. Here ofcourse the 4th bar went on the take out high of the first bar also. The pure traders would have held on to their SAR but the aggressive ones would have brought it down to the 2nd bar high + filter and would have reversed very early today.

Can you please guide me here??? Thanks
Beethoven

Bee, In 60 minutes we do not have 4 consecutive down bars, only three we have!!! You cannot count the opening bar to have made a LH/LL!!
The 4th bar of the day did make LH/LL but that was not the 4th LH/LL bar it was the 3rd LH/LL bar!!! Moreover in Nifty, Saint suggested that 2 bar funda is not much successful as compared to its use in Stock futures!!!

 

[TFL]

Dear saint,

I m new to this system i understand entry and exit point, but I cant know where to add next short or long in running position. can u please explain where should I add next short or long in any entered trade ? or please guide me to link where u had previousaly explained.

thanks in advance

dn jadeja

dnjadeja,

Its simple than entry and exit.

In SHORT positions you can add when a PIVOT LOW is taken out - 7(Filter)
In LONG positions, add when a PIVOT HIGH is taken out +7

You can add upto a mximum of 3 times. This is a rule. Means we will atmost have only 4 positions. (1 BUY/SELL + 3 ADDs).
See the below chart sample.

Hope you understand,
Hari.

 

[dnjadeja]

Dear Hari,

Thank u for ur kind reply, but I still cant understand, when I see chart posted by samfisher, can u plese explain after see this chart which posted by samFisher in this thread ?

http://www.traderji.com/equities/21903-going-60min-flow-603.html

thanks in advance

dn jadeja

 

[dnjadeja]

because i see too many lower pivots beetween he added new shorts. (may be my interpretation is wrong !!!) , why he choosen that one he shorted add ...

 

[TFL]

because i see too many lower pivots beetween he added new shorts. (may be my interpretation is wrong !!!) , why he choosen that one he shorted add ...

The pivots you may be seeing are not exactly valid pivots.
See some charts and learn get in touch with how the PIVOTs to be.

ALSO, USE BAR CHARTS TO IDENTIFY PIVOTS EASELY.

Hari

 

[dnjadeja]

Thank u Hari for ur kind reply

thanks again

dn jadeja

 

[SamFisher]

Dear Hari,

Thank u for ur kind reply, but I still cant understand, when I see chart posted by samfisher, can u plese explain after see this chart which posted by samFisher in this thread ?

http://www.traderji.com/equities/21903-going-60min-flow-603.html

thanks in advance

dn jadeja

I saw your post yesterday but choose not to answer it, thinking that you may not have read atleast posts for current trade before asking questions....
Sorry since you quoted my post yes, you have done your work....

Adding to the short/long are done as Hari Explained in his beautiful charts. But also the adds done on break of lows of the day and also break of first 5 minutes bar (but always in favor of your trend)
In the last trade all the adds done based on the above rule.

 

[SamFisher]

Just for the Record

Today Thursday 9th October 2008 Dasera 'Trading Holiday'​

 

[touchraj16]

Current Position Of NIFTY in thread

Position Start Date: 08-OCT-2008
Long Since : 3534
Stop Loss:3352 - 15 = 3337
Profit/Loss in Current Trade = 3534-3337= -197

We change our Position to SHORT if NIFTY Trades below :3337

Press thanks if your are with this group! else keep your stoploss for short = 3686

Hello Sir,
Can you please add 2 Stop Loss positions for Pure and Aggre... so one could see the actual diffrence in the same trade... just for study and for a single complete trade only...
Thanks
Raj

 

[SamFisher]

Just a suggestion,
Can we start a new thread to post all rules and tweaks, so that anyone wants to refer it later? We do not have to put everything at once but build the manual as we go.
There should not be any discussions other than the days special posts (such as one posted by Satya which shows two different types of Wide Gap Down scenarios)

Hi class,
I have started a new thread to compile a help system for 60 minutes flow.
Here
http://www.traderji.com/futures/24457-companion-guide-saints-60-minutes-flow.html

Please start contributing what ever information you think is relevant. I will be not very active today as I am getting some unexpected guests today (Dasera). But will be back here soon. In the mean time please keep adding what ever you think is good. We will reorganize it later. First let us put all the stuff. Even if you just put the links to the resource that is fine(otherwise cut paste is recommended)