Going With The 60min Flow!!!

[moneygurukul]

Dear friend i am a follower of this method but dont agree that we are panicing this moment by seeing our paper profits gone ...(dont know what makes you think like that) dont know others but i m still long ........

again all the debate was yesterdays pivot .....

even Amitji rightly said no body is here purely pure or purely agrresive yes i agree even i am not purely pure wanted to tweak using 30 min pivot in certain cases .... so posted why gone long on 8th october and i was wrong no problem ... we make mistakes and learn from them and move on


Regards
Satya

I know you my friend since long. The true follower.

So far as the debate over pure vs. aggressive is concerned, a mix of the two is very dangerous.

As a trader should not listen to news, he should not even look into a trading pattern dramatically opposed to his own style. Just goes to deteriorate the performance.

 

[Satyen]

I know you my friend since long. The true follower.

So far as the debate over pure vs. aggressive is concerned, a mix of the two is very dangerous.

As a trader should not listen to news, he should not even look into a trading pattern dramatically opposed to his own style. Just goes to deteriorate the performance.

Yes I admit my mistake there hope Saint will come up with some rule tonight
even planing to check past 6 moths chart again

and never listen to news also

Regards
Satya

 

[psj]

are you short or Long?

If you were SHORT and now long after stoploss hit then YES!

If you are Long then wait for next 2 3 bars to cross the high of red candle where you are making your Pivot!

Excellant. I got it.

So, I am still LONG in LT and NF.

Thank you very much.

PSJ

 

[TFL]

A VIEW...

Hope the new rules will have a method to book profit in multiple times rather than at SAR.

HariBrid.

 

[KomaL2099]

My view which is somewhat responsible for todays Chaos !!!!!!!!!
But I still not able to understand whats wrong in it ???????

 

[rishig38]

My view which is somewhat responsible for todays Chaos !!!!!!!!!
But I still not able to understand whats wrong in it ???????

Komal, I do not understand why would you switch the SAR to 3510-room when the rules clearly state otherwise. Here is what Saint told us about Gap up in our direction (which was long initially)...

Gaps in the direction of the preexisting trend

1.We are long a trade,day 1,2,3,4.......big moves on the 60......trade gets vertical.....wrb's one after another....market shuts and opens with a big visual gap up.Allow the 1st bar to form,put your stop below that bar (with a bit extra) and reverse to short when triggerred.

2.Same as 1 for shorts.

3.All other gaps in the direction of the trend......nothing to be done.Once the day progresses and pivots form,the latest pivot low can become the new recent stop and reverse point.

So long as gaps are in the direction of the trend.........nothing except in case 1 to be done about it.Treat it as if it were a strong move up if that makes you feel better.But when the NIFTY gaps up 150pts,we ache to put that 50-60k in the pocket.And then we mess it up trying to get in lower and give back half or more.Stick to the plan........We want as much of the meat as possible out of that trend move.And in that,we are willing to leave a lot on the table.

The question you have to ask is:Can you do it?Do you have the stomach and capital and mental fortitude to pull it off?If the answer is yes,.....great.If the answer is no,.....are you sure that the method is faulty.Or is the fault in the organ between the two ears?




So clearly, there should have been some WRBs before the close of the day and then after the gap up opening, you could have moved the stop loss....

This is just my thinking...some one please verify if my understanding and explanation is correct or not....

 

[moneygurukul]

Gaps in the direction of the preexisting trend

1.We are long a trade,day 1,2,3,4.......big moves on the 60......trade gets vertical.....wrb's one after another....market shuts and opens with a big visual gap up.Allow the 1st bar to form,put your stop below that bar (with a bit extra) and reverse to short when triggerred.

2.Same as 1 for shorts.

3.All other gaps in the direction of the trend......nothing to be done.Once the day progresses and pivots form,the latest pivot low can become the new recent stop and reverse point.

So long as gaps are in the direction of the trend.........nothing except in case 1 to be done about it.Treat it as if it were a strong move up if that makes you feel better.But when the NIFTY gaps up 150pts,we ache to put that 50-60k in the pocket.And then we mess it up trying to get in lower and give back half or more.Stick to the plan........We want as much of the meat as possible out of that trend move.And in that,we are willing to leave a lot on the table.

The question you have to ask is:Can you do it?Do you have the stomach and capital and mental fortitude to pull it off?If the answer is yes,.....great.If the answer is no,.....are you sure that the method is faulty.Or is the fault in the organ between the two ears?




So clearly, there should have been some WRBs before the close of the day and then after the gap up opening, you could have moved the stop loss....

This is just my thinking...some one please verify if my understanding and explanation is correct or not....

Please refer to the text in bold.
Will not it mean initiating short below the 10 AM bar of 14th Oct?

 

[rishig38]

Please refer to the text in bold.
Will not it mean initiating short below the 10 AM bar of 14th Oct?

I do not think so because we did not have WRBs before close on Oct13th. So, the huge visual gap up opening on Oct14th does not mean anything and we just hold our horses and wait and watch.

Some one please correct me if I am wrong in my understanding of the system.

Thanks!

 

[rishig38]

The only thing I do not understand is if we were long on 14th, then the Gap today was "against" the trade/trend...why have you quoted the text with rules for Gaps in the Direction of the Trend!!!

In case we were already short on 14th, ....well....there would not be any need of discussion about guts or mental fortitude etc....

RK, I think Komal changed SAR to 3510-room on 14th itself when we had a gap up opening...which according to me was wrong....

the SAR should have stayed at 3265, even on 14th...and when today we had a gap down opening, it would not have mattered anyways because it was well above our original SAR of 3265...

Saint Sir, please validate...

thanks!

 

[Saint]

RK, I think Komal changed SAR to 3510-room on 14th itself when we had a gap up opening...which according to me was wrong....

the SAR should have stayed at 3265, even on 14th...and when today we had a gap down opening, it would not have mattered anyways because it was well above our original SAR of 3265...

Saint Sir, please validate...

thanks!

Actually Rishi,the Pure way(technically I have till midnight to use the dreaded words....) tells you that you only look at Pivots.Our last pivot low was 3280.......we should not use the 2 bar method as it is too aggressive......no other tweak from the 30min charts.....technically,it is a V-shaped move down.No pivots till 3280(note the high was nearly 3700)........a 400pt stop loss

Following that we are still long and will reverse at 3265......ouch!.....

Aggressively,that pivot that everyone was clamouring about is a pivot on the 30min chart......but what are we doing looking at the 30min charts in the first place?For clarity,yes........but that bar,as Sam had posted somewhere,was too small to even consider as a pivot.How long do we wait for a pivot?

To be frank,Komal and MoneyGurukul are dangerously close to what I am abt to post later........MG even commented about the first bar tweak(Great going,my friend!!)....Will be talking about it a bit later.

Komal is following the 2 bar strategy and that is why the stops were raised........and acted accordingly.At present,there is chaos as to what to do when,I hope the next few hours will sort out most worries and confusions.

Saint