Going With The 60min Flow!!!

[hitesh]

Dear Saint,

Kindly bear with me, this is chart for Cash segment.

In Aban, the Bar of 1.00 PM (marked in the chart), where low is 1228. IMHO, this is Pivot Low and SAR is 1228-20 = 1208.

Am I right in my understanding? This post is just to confirm my understanding.

Best Regrads
Hitesh

 

[Czar]

dear members
some people like me dont have access to hourly chart ,so i request any one could do that job of posting the chart at every hour.

thank u

to those who are doing this system or trading on similar TA I suggest please get at least a trading software from the broker to see the charts... you really cant expect to successfully trade without charts, then I assume it would be that you are just using this thread as tips.... comeon if you are trading this system I think you are already making money & dont mind paying atleast minimum (which now brokers dont even charge)... you can check in the broking section which will be suitable for this purpose... & even if you dont trade there most brokers are desperate to make new clients so they will willingly oblige... how can you trade 60 mins... without seeing 60 mins...

 

[sandeep721]

to those who are doing this system or trading on similar TA I suggest please get at least a trading software from the broker to see the charts... you really cant expect to successfully trade without charts, then I assume it would be that you are just using this thread as tips.... comeon if you are trading this system I think you are already making money & dont mind paying atleast minimum (which now brokers dont even charge)... you can check in the broking section which will be suitable for this purpose... & even if you dont trade there most brokers are desperate to make new clients so they will willingly oblige... how can you trade 60 mins... without seeing 60 mins...

You are right Czar . Just a suggestion, Sharekhan is having good intra day charts in their software "trade tiger" . If anybody wants to use a paid service , Then Icharts.in is providing at a reasonable rate. There might be others also , But I am using the above ones that is why I have mentioned those.

 

[Prabhjeet]

Prabhjeet, Though I may not agree to other views posted by you above, but surely feel that the criteria of taking the difference between the Pivot Bar and Next bar to have a minimum X points only to be considered a valid Pivot is wrong!!!
We must have had scenarios in the past where lesser than 15 points difference was considered a valid Pivot!!!Vaguely remember coming across such Pivots while analysing the historical data!!!
Do think it over and let us discuss it, though I am quiet positive that I am not wrong, but would be happy to know if I am wrong so that may correct my errors in future!!
Regards

This Pivot thing is not as simple as we people had thought it to be RK, sometimes even 5 bars dont look like a pivot to me, in other cases I may even take trades based on 3 bar pivots, so I am out of this Pivot finding game.

I have devised a simple formula for deciding pivots, I will consider a pivot low only when the bar that I am considering to be pivot has a lower low that is say 0.5% lesser than bars on either side for Nifty and for stocks this percentage is kept at 1%.

I have backtested it and looks quite adequate to make profits, though I may not be as sucessful as some of other guys here but I will surely be at peace while making decisions

 

[beethoven]

This Pivot thing is not as simple as we people had thought it to be RK, sometimes even 5 bars dont look like a pivot to me, in other cases I may even take trades based on 3 bar pivots, so I am out of this Pivot finding game.

I have devised a simple formula for deciding pivots, I will consider a pivot low only when the bar that I am considering to be pivot has a lower low that is say 0.5% lesser than bars on either side for Nifty and for stocks this percentage is kept at 1%.

I have backtested it and looks quite adequate to make profits, though I may not be as sucessful as some of other guys here but I will surely be at peace while making decisions

As Saint says "GO With The Eye". Visually obvious pivots will stand out. We have time here in this system of " 60 min ---" to let a pivot develop as SARs are far away. We tend to see the the chart too much and micro-manage, maybe we have too much time at hand. Suggest trade two or three diff futures in 60- mins or try one or two positions on the mini-flow. This will keep the mind occupied and we will develop an eye for pivots and also stop micro-managing. We have yet to develop an eye for pivots which will come automatically after some time.
Bee

 

[Prabhjeet]

Bee I am sure that a 1% lower low will be even obvious to a naked eye, thats why I am using ZIG low func. on Metastock for finding such pivots.

Regarding too much of time, well used to have a lot of time some years back but now with growing Dental practice I am a little short on time, though never lazy to let my trade turn bad

 

[novice1]

Bee I am sure that a 1% lower low will be even obvious to a naked eye, thats why I am using ZIG low func. on Metastock for finding such pivots.

Regarding too much of time, well used to have a lot of time some years back but now with growing Dental practice I am a little short on time, though never lazy to let my trade turn bad

Prabhjeet,

Can you please direct me to the source where I can get more material on Zig Low which you have mentioned here.

Alternatively please post the formula if you have. So that I can try to incorporate it in MS

I know we should be looking at the most obvious visual pivots. But this would also help

Thanks

 

[beethoven]

Bee I am sure that a 1% lower low will be even obvious to a naked eye, thats why I am using ZIG low func. on Metastock for finding such pivots.

Regarding too much of time, well used to have a lot of time some years back but now with growing Dental practice I am a little short on time, though never lazy to let my trade turn bad

Dental practice and trading!!! WOW!!!! I cant even manage a phone call in between trading hours. Best of luck my friend in both your endeavours!!!!

 

[rkkarnani]

This Pivot thing is not as simple as we people had thought it to be RK, sometimes even 5 bars dont look like a pivot to me, in other cases I may even take trades based on 3 bar pivots, so I am out of this Pivot finding game.

I have devised a simple formula for deciding pivots, I will consider a pivot low only when the bar that I am considering to be pivot has a lower low that is say 0.5% lesser than bars on either side for Nifty and for stocks this percentage is kept at 1%.

I have backtested it and looks quite adequate to make profits, though I may not be as sucessful as some of other guys here but I will surely be at peace while making decisions

Prabhjeet thats simply great!!! The main criteria is to back test a system and if satisfied with RR, trade it with same rules!!! The key is 'consistency!!! and that is of most importance!!!
I am able to understand what you are trying to tell!!!
Shall definetly take out time to have a look as per this funda of PIVOTS. Do u use any indicator to mark such Pivots in the charts?
Thanks for sharing your views and best regards!!

 

[rkkarnani]

As Saint says "GO With The Eye". Visually obvious pivots will stand out. We have time here in this system of " 60 min ---" to let a pivot develop as SARs are far away. We tend to see the the chart too much and micro-manage, maybe we have too much time at hand. Suggest trade two or three diff futures in 60- mins or try one or two positions on the mini-flow. This will keep the mind occupied and we will develop an eye for pivots and also stop micro-managing. We have yet to develop an eye for pivots which will come automatically after some time.
Bee

There is lot of substance in what you say bee!!! Though many are busy micro managing the intra day mini flow!!!
A few like me are busy paper trading the mini flow!!!