Going With The 60min Flow!!!

[Saint]

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Sorry about that,Robin.......

To answer your question,that would have been better in retrospect

Basically,it's like this.....Bar 1,Bar 2 higher lows than Bar1,Bar3 higher lows than Bar 2............Once Bar 3 overtakes the high of Bar 2,your new stop is the low of Bar 1.

Once Bar 4 overtakes the high of Bar 3,your new stop would be the low of Bar2.

So on so forth......therefore in that diagram,the stop is where the red arrow is.

Must it be always 2 bars,can't it be some other way of trailing........Sure you can.Do whatever it takes to keep yourself in the trade as long as possible and yet get you out at key points.....,at least most of the time.

This works for me,the simpleton........But there are "advanced" stuff out there that can be tried out as well.Probably with better results.Probably not.
Upto your comfort levels.Finally your call to take.

Saint

 

[Saint]

Hi Saint Sir,

I went long in Nifty at 3803 at 3 29 PM.The Nifty Futures closed at 3828.I am not able to understand it..On my terminal it was showimg much lesser....is there any adjustments?

Asked and answered,my friend.Thanx Rk,armhm

Saint

 

[Saint]

Hi Saint,
Been following some of your threads with keen interest. Just saw your Lanco entry at 268.5 with a 233.5 stop. Thats almost 13%.
what sort of %profit do you want to exit at?

Hi Pasha,

My brain is not wired that way......if I get in with one lot,size=425,stop Rs35 away,that works out approx.15k.

If my capital and risk management tells me that I can take a risk of anything more than 15k,I can take the trade.On the other hand,if I am not that capitalised,my stops should be no more than 10k,then probably this trade should be passed.

But 13%,....and % profit etc....that's not the way I think.If the trade looks juicy,and fits into my Plan,and that risk makes no impact on my mind,.....then it's all systems go for me.

And the profit I am looking for is about 2000%............or till my pivots crack.

Saint

 

[Saint]

Thanks for clarifying milky!!!

However , Milky , there is a difference in the NF situation that day and aban today. The difference is visually noticeable. This i think u are referring to 3rd july opening with a gap down. There u will notice that the entire range of 10 o clock bar was well within the range of the bar just before the closing bar of that day, i.e. 3 PM bar... hence i also accepted it as a not a GAP!! Today it has opened with a big gap but the high and low differnec of subsequent bar is also ~20 points, moreover the opening priuce is outside the range of previous days hi and lo!!! Hence to me it looked like a Gap, a valid one!!!

Ah.....the debate rages on abt major and minor pivots,and what this visual gap is all about.

Finding it a bit difficult to go hunting for charts.......Throw me some gaps,and I believe I can clear the confusion.

Or do come over to my place armed with a pen and paper.

Saint

 

[Saint]

Great good luck with your new employee!

Regards

Ah,thank you,my friend.

Saint

 

[Saint]

Saint,

Is the fall on NF a V fall? Unable to relate my eyes with the mind! I think V fall in that case the SL will be 3892+ plz correct me.

Regards

Well done,MB!

And bang on tgt abt the stop loss area as well.


Saint

 

[milkyblack]

Well done,MB!

And bang on tgt abt the stop loss area as well.


Saint

Thanks Saint

Regards

 

[Satyen]

Hi All We Still have no Pivots Hope we will get it today

Regards
Satya

 

[Satyen]

Hi RK
Yes you can use 2 bar method as traling stop but before it hits our previous pivot it generaly gives us a pivot for reversal

Regards

 

[lalpar]

Data recd. by me shows the last traded rates of Nifty Futures at 3798!!
Would be happy to know the reason for your going long at 3.29 PM today!!!
Is it based on some oversold, or RSI or some MA crossover or simply went long becoz it had gone down so much!!!
Regards
R K Karnani
ps.: My personal feeling this query of your do not belog in this thread!!!!

Hi Rk,

I felt the market was oversold and so did I go long at 3803....A good call nevertheless

Regards
Lalith