Going With The 60min Flow!!!

[hitesh]

Dear Saint / All members,

On receiving encouragement from Mr. RKKarnani, I am posting this message.

Knowingly or unknowingly, Saint and U all members have upgraded me spritually also by teaching me:-

1. How to remain Here and Now
2. How to keep I away. (in my case minimise I)
3. How to remain focus
4. How to remain discipline.

I am trying to answer my understanding for "How to's" in market and in life. I would be pleased if you correct / guide me, if you feel so.

1. How to remain Here & Now:

a. Saint’s method has shown me how to remain in HERE & NOW state of mind. My eyes should be on immediate PIVOTS (High/Low). If I successfully manage immediate PIVOTS, rest will be taken care automatically. So this is NOW state for me.

b. While I look at chart, I need not worry about what if Dow is Up/Down, what if IP data / inflation / result of the company is out and how it would be perceived by the market. Any FUTURE EVENTS has no bearing on my decision to follow Pivots at Present. So this is HERE state for me.

c. In market I have to keep eyes on immediate pivots only and manage it successfully. Everything else is taken care of automatically. In life, if I successfully manage the issue at hand, by remaining in here & now, incidentally, everything else is taken care automatically. If I want to climb Everest, I should walk step by step (and not jump).

2. How to keep I away

a. When I have to identify Pivot( which should be obvious), I should keep I away. I is very dangerous. If I don’t keep my I away, then, I won’t be able to see what is obvious but end up looking/identifying what I wants. In other words, (what Saint has advised time and again), I should see what is obvious / visual, and not what I want. (Sorry but in this para, I am not able keep many I away).

b. I learned to see things as it is without giving my color. Once I do it repetitively, it cultivates listening habits to a great extent.

c. I feel that in life also if we listen / talk with the people without forming any judgment / prejudice and keeping our I away (or at least at minimum level), we will have better understanding of the people.

3. How to remain focus

a. Previously, while trading, I was not able to remain focus due to stress and mental pressure. In Saint’s method, stop loss is known in advance. So I am prepared to take loss and reverse if that level is hit. It helped me to remain focus.

b. Secondly, all the rules are well defined. So I am not at dilemma as to what to do in a given situation, which also helped me to remain focus.

c. Point 1 (a) – focus on immediate pivots.

4. How to remain discipline.

a. For me, discipline is to follow PIVOTS, by keeping I away, by remaining Here & Now, To Focus on implementation and not on result.

b. To think in simple terms without making it complex unnecessarily. To listen and understand what Saint/members want to convey


Going With The 60min Flow!!! enable our harmony with the market. I know from my experience that before I establish harmony with the market, inside harmony is must, which can be achived by discipline, focus, persistence, honesty and remaining humble.

Thanks a lot.... to Saint and all active members for your kind efforts....
Regards
Hitesh

 

[beethoven]

Dear Saint,
First all of us owe much to you four efforts to help us continously.
I have a request to make.
Though you are clear in your statements, still I feel your one post containing amalgamated rules will go a long way for slow understanding people like me. Please do it at your convenience.

Post no. 6546 on page 655 alongwith rules posted yesterday is all that is to be seen now.

 

[Saint]

Dear Saint,
First all of us owe much to you four efforts to help us continously.
I have a request to make.
Though you are clear in your statements, still I feel your one post containing amalgamated rules will go a long way for slow understanding people like me. Please do it at your convenience.

NIFTY CHANCE,if possible,can you put it all in one post.....I can edit ....All this if you have the time ,that is.

I am tiring....and tiring fast.Need some help.

Saint

 

[uasish]

Post no. 6546 on page 655 alongwith rules posted yesterday is all that is to be seen now.

Could you kindly give the Link for both this posts,it is cumbersome to search for them.
Want to preserve those 2.

 

[musicjunkie]

Take it easy Saint. Take care of your health.......

MJ-

 

[milind]

                            [B][SIZE="4"]60 Mins Flow[/SIZE][/B]

[B][SIZE="3"]Ticker		No of Adds	Filter	 ADD	2-Bar/Gap[/SIZE][/B]
 	
NIFTY		    3		 15 	 07	    20

ABAN		    5		 20  	 10	    20

LT		    2		 15  	 07	    15

HDIL		    2		 02  	 01	    02

JPASSOCIA	    2		 02  	 01	    02

RELCAPITA	    3		 15  	 7	    15

I have been trading only NF, so will need to verify other filters by Sir or someone who has been trading them...

Thanks

NC, The filters mentioned for LT are pre-split.

-- Milind

 

[beethoven]

Could you kindly give the Link for both this posts,it is cumbersome to search for them.
Want to preserve those 2.

http://www.traderji.com/equities/21903-going-60min-flow-655.html#post235899

http://www.traderji.com/equities/21903-going-60min-flow-703.html#post239307

http://www.traderji.com/equities/21903-going-60min-flow-704.html#post239337

 

[Saint]

ADD point to shorts(if not in yet,your entry and if you are long by some chance,your reversal) at 3155-15=3140

Saint

 

[Saint]

L&t reversal to short at 825-10=815

Saint

 

[lvgandhi]

NIFTY CHANCE,if possible,can you put it all in one post.....I can edit ....All this if you have the time ,that is.

I am tiring....and tiring fast.Need some help.

Saint

Dear saint I have put together as per my understanding as below. You may like to correct at your convenience after market hours.
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ENTRY:Think everyone knows this already.....a few things.This is a methodology that involves you to stop and reverse.Your exit on a position is therefore your entry in the opposite direction.Your reversal points are therefore crucial,which is why it has to be done at the aprropriate points.We will talk about this down this post.

EXIT:Once again,no taking profits......this is an enter,add,exit and reverse method.....no profits off the table.What you as an individual would like to do is out of the confines of this discussion.Every exit is therefore your entry point in the next trade and should therefore be that appropriate point.

PROFITS:None.

ADDS:Initial Position+3 ADDS in NF,Initial Posns + 5 ADDS in ABAN,IP+2ADDS in HDIL,JPA.,IP + 3 ADDS in RELCAP,L&T.........All ADDS are Rs7 above that reference point,be it a pivot or a reversal signal,etc.

Where are the ADD points?Pivot points,in a WRB breadown---below the breakdown bar.

REVERSAL POINTS:---

A.PIVOTS:-Let us talk shorts,as the case is always to talk in terms of longs........Lower Pivot Highs and Lows,.........every breakdown to new lows is an opportunity to bring stops down to the latest pivot high.Keep doing this till a previous pivot high is broken.A break of that pivot high and we exit all positions---initial +3adds---and enter initial positions long.Very simple.......There are a few amongst us who would say that pivot identification is difficult.It's as simple as it looks.........just focus on 2 things:a.visual b.new lows,then move stops(in most cases).REVERSAL is Rs 15 below the previous pivot low

B.2 BAR METHOD:--In a vertical move,where there are no pivots,move stops to the high of 2 bars back in a down move......move stops to the low of 2 bars back in an up move.REVERSAL is Rs20 below/above 2 bars back.

C.VISUAL GAPS:
No reversal
Exception
On a day when price goes down LH-LL on the 60,and gaps down big the next day,we will add the Rs20MovFilter to the first bar and go long if triggerred.

The Rs20 level in case of visual gaps,is a moving filter,which we have been using in the Intraday Mini Flow..............NF gaps up to H 3500 L3466,the next hourly candle has to hit 3520 for us to reverse to longs.....If it reaches 3515,our new entry price is 3535.

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?

Gaps in the reverse direction of the preexisting trend

Long tradereexisting trend is up....Visual gap down.Is it below the previous pivot low on the 60?If yes,short the low of the first bar.If no,hold and see if pivots crack.Exit longs and go short.

Vice versa for short trades.


There is no moving filter in case of pivot reversals and 2bar method reversals.

TIMEFRAME:Only 60min Charts......no referring to 30min charts and choosing certain pivots and not others.......Allowing the "I" to come into play is dangerous,our job as traders is to set everything in motion and keep the thinking analytical mind out of the picture.60min is good enough for what we want to achieve.

CANDLESTICK PATTERN,TECHNICAL PATTERNS,SUPPORTS/RESISTANCE::-None required or going to be utilised.

ADVICE:More active intervention is required especially on gap days........but other than the right amount of action,no more than that is required.Don't go around over scrutinisng,over analysing........once the processes are looked into,your job is to stay out of the way between yourself and the trade.Your job is to get the direction right and allow the Market to do all the hard work and put money in your pockets while you sip your coffee and laze around.
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