Going With The 60min Flow!!!

[Sec 5 (Pyr)]

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%.

Wow, great going pjr. While everyone was just throwing random ideas into the ring, you've actually gone out and implemented it.

Could we get some detailed backtesting reports? Like, how does it compare to the regular 60min flow? Also, does your .5% rule superseed the 5 finger rule entirely? So would you be taking trades in a more aggressive fashion? And all trades were executed via the 60min bars, I take it? Buffer still +/- 15 or would you raise it to be safe? etc, etc.

Fill us in when you've got the time.

 

[Smart_trade]

dear smart trade i understand u dont trade wave structures here.even i dont know much about that. i m just a novice trader.i was reading the conversation about the pivot low whether formed or not so i thought that this aspect may give a hint to clear the confusion about pivot low nothing else.
the corrective wave may be profitable but i would also like to stick to the rules of this stratregy of not goping short before the break of pivot low.

From your earlier post I thought you are mixing up waves and pivots .
You understand much more than what I thought you did....Great going my friend.Nothing more to add, and BTW nobody here goes short before the break of PL.

God bless you my friend ...

Smart_trade

 

[Smart_trade]

Posting todays 60 min NF chart

Also posting todays 30 min NF chart as under :

http://img397.imageshack.us/img397/2342/nf30minll5.jpg

From the posts I read there was a lot of debate on whether a low at 3620=40(11=00 bar low ) was a PL or not.

As Saint says,go with your eyes,and for me,it certainly was a PL ,fairly clear on 60 and if not clear,then if you see 30 it is a crystal clear PL for me.So I reversed my position from long to short at 3620-15=3605.

Dont want to get into a debate on this issue,everyone should trade what he/she sees on his/her charts.

Best Wishes,Trade Well...

Smart_trade

 

[Smart_trade]

Oops the 30 min NF stayed back .Here it is :

Smart_trade

 

[senty]

Posting todays 60 min NF chart

Also posting todays 30 min NF chart as under :

http://img397.imageshack.us/img397/2342/nf30minll5.jpg

From the posts I read there was a lot of debate on whether a low at 3620=40(11=00 bar low ) was a PL or not.

As Saint says,go with your eyes,and for me,it certainly was a PL ,fairly clear on 60 and if not clear,then if you see 30 it is a crystal clear PL for me.So I reversed my position from long to short at 3620-15=3605.

Dont want to get into a debate on this issue,everyone should trade what he/she sees on his/her charts.

Best Wishes,Trade Well...

Smart_trade

But ST, for 3260 to be a PL, the highs of the day has to be taken out isnt? or atleast the high of the PL bar has to be taken out... neither happened... and there was no need to look into the 30 min pivot as we don have huge profit or steep movements... so no PL got formed today and I am still long...just my thoughts...

 

[ratan jain]

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!!!!

Yes I can imagine, Doctor saheb saying on the phone, " pull them all out ", him meaning the positions, and the assistant pulling out maybe 6 or 7 teeth till he realises whats happening, and then there is no sar, just some place to run far

 

[ThE HaMmEr]

real confusion here......all against saint sir's long position...........

many are standing short ......

as far as i consider.....

if we take a look at 60 min charts........

in this pivot 1st 5 min bar also plays a role...........only 2 60 minutes bars actually played a role in formation of the pivot........

2 bars bearish on 60 .... 1 bullish..... then am ok with considering this a pivot on 60 min....... am a pure trader....as a beginner........so wanna look at 60 clearly....

even in case off aggressive ..... isn't it too early for 30 min time frame to come in....... no steep moves....

this doesnt look like an idol pivot to rely on with the eye....on 60......it is not so clear with the eye.......

i looked at the 5 min and 10 mins chart to see what was actually happening(though we dnt rely on 5,10,15,20 min charts here)......it was more of a sideways moment........


and 1ce i compared it with other pivots that we clearly considered........they were more of very clear pivots on every time frame............as clear a pivot as on hand.......

nd y did we reverse it using 30 minutes today....???

guyssss this is 60 min flow thread.......i wud call dis 30 min flow if we did this....

tweaks come into play when a thing comes into ur mind saying "what d hell is happening.....we r in so much profit...."

or

"what is this......so many moves up and down.......what is happeninggg..."

just my view of viewing what actually happened in formation of the pivot......

taking the inside view...........still learning........and dis is just a sharing........of my lil understanding.....

am just waiting for saint sir to post his compilation soon........

it will end all confusions surely...........

 

[karthikmarar]

Some Musings on Pivots…

How do we define a pivot?

One way to describe a pivot is a swing high is a pivot high and swing low is pivot low. But then subjectivity creeps in here. Should we consider the major swing or even minor swings? Minot ..how minor? Maybe these things make different people see different pivots.

I have been toying with the idea of an afl to assist the 60 min flow traders. I faced the same questions when I attempted coding the afl.

One way to code was to use the zig –zag functions. Then the big protest “ It looks forward” flashed in front of me. In the flow system we are trading the break of the pivots not pivots. Hence that should not really pose a problem. But then what percentage of change I use ( the same question ..how minor the pivot should be?). A percentage change used for nifty cannot be obviously used for an individual stock.

Another method of finding the pivot could be use the five finger formula…. the middle finger being the pivot. Seemed to work fine. I was happy.. Then I was reading the thread and find many finding more pivots…. Again confused… the five finger seemed to working ok… again to the design board ..mmm

Then thought of a three finger formula, the index finger, middle finger and the ring finger… oops… there seems to be pivots everywhere.. the three finger formula does seem to give earlier reversal…. Seems nice… then did some study with historical data …. Too many whipsaws…. IMHO… the flow method by itself should give plenty of whipsaws in a side ways market… luckily we are in trending market .. of course a bearish trend…
But the three finger method gave too many whipsaws for comfort.. the five finger formula seems to work better… now I am back to my design board …

 

[rakeshluthra430]

Dear Rakesh in my veiw we should not use all the 30 min pivot for agrresive there must be certain scenario where we should use 30 min pivot .......

i m posting the chart which you have posted and why not taken 30 min pivots may be wrong but here we are to discus and learn

Regards
Satya

No Satya...I was not alluding to using the 30 min tf to find pivots here. There is more to Aggressive than the 30mins...

As Smart_Trade rightly said a few posts ago....each man to himself..whatever suits our personalities.

Sec 5 pyr........You are correct abt what you said in your last post, but do keep posting your views/methods. Whatever comes out from these discussions would be of great value to all here.

Rakesh

 

[Saint]

No Satya...I was not alluding to using the 30 min tf to find pivots here. There is more to Aggressive than the 30mins...

As Smart_Trade rightly said a few posts ago....each man to himself..whatever suits our personalities.

Sec 5 pyr........You are correct abt what you said in your last post, but do keep posting your views/methods. Whatever comes out from these discussions would be of great value to all here.

Rakesh

ah....each man to himself......hope that means,one chooses either variation.....and not,one can do what one pleases.

Saint