Going With The 60min Flow!!!

[Pattel]

one question. i am seeing 7 hourly bars in my chart. for this strategy, how do you treat 3-3:30 and 9:55-10:00. do you merge them and treat as one bar ? or you completely ignore 9:55 to 10:00 ?

thanks

No merging. All bars are treated with equal importance, you might see 8 bars for some days where we had a sun outage.

 

[KomaL2099]

hi patel,

right now i am a beginner doing paper trading. i could not nderstand how u got long buy on oct 27th monday, i didnt see any PH on that day as you have marked. can you verify one more time ?

thanks

Bandlab
On 27th october 12pm is a clear pivot.
See untill 11am price was moving downward ... 11-12 nifty moved upwards and made a high of 2462. Now the next hour again turned bearish as you can see a bearish candle which breaches the so far days low(formed on 11am bar).
Hence we reversed from 2462+15=2477

 

[Pattel]

My apologies for posting wrong conclusion in my earlier post.

 

[pakatil]

Dear Rakesh,

Thx for the analysys & excellent chart. I hv been doing paper trading live during market hours. My results almost match with yours. It was bugging me all these days that my understanding of the method was faulty. Now I feel vindicated that, purist like Rakesh is also thinking on the similar lines.

Planning to Trade with real money from next month.

Cheers

 

[niftychance]

......good that we have all understood what works best in the markets.


Rakesh

Hello Rakesh & Pattel

Thanks for the trade details and charts.

Now we know that the agrro is the pure one...

The only thing now remains to be done is to get this level of correctness in all the live trades ...

Which will take time to come with lots of practice and loads of experiance ...

Meanwhile we earn while we learn ...

Thanks

 

[Prabhjeet]

Thanks for your time and effort..to check what observations I had presented.

See..this bird (when to trigger the gap-reversal rule) has already been killed. Once I said that the open shd be above/below the last 2-3 days range...we would have had our adds during that range...so this precodition would anyways had been met when we reach there.

But...for a moment, lets presume we have just the main position, no adds and we encounter this gap-reverse situation. This, as far as my limited understanding goes, would most probably be a breakout from a narrowish range. So, the crack of the opening BO bars low, would anyways mean that the markets may come back to the range....and hence the original rule would hold.

The logic you presented seems to be very good..so will not give up on what you said. Will work this week to see if we can improve this further...request you also to work on the same...and if possible present a few charts where this rule would help us and also when it would lead to whipsaws.


Thanks again Paaji,
Rakesh

Rakesh the reason I used 2 different strategies for different no. of lots was because we all are humans after all and when we have already put 2-3 adds we tend to feel jittery when our paper profits are slowly fading away after Gap opening.

I think the original use of gap opening away from last 2-3 days range holds good and we should start applying it straight away, atleast I will be doing so along with you

 

[beethoven]

Rakesh the reason I used 2 different strategies for different no. of lots was because we all are humans after all and when we have already put 2-3 adds we tend to feel jittery when our paper profits are slowly fading away after Gap opening.

I think the original use of gap opening away from last 2-3 days range holds good and we should start applying it straight away, atleast I will be doing so along with you

Yes I agree. When you have a heavy load (many lots after 2 adds) things become very hot to handle. But I think in this system, Saint has no where said about taking profits off the table and generally reverses with full load thus maximising the profits (I may be wrong). This of course requires nerves of steel, absolute belief in the system and above all ability on oneself to really play this method correctly. The last is absolute must because the strategy is designed to stay in the flow till the last moment with full load. Very tough on the gastric lining. We still have to mature to that level. As Saint says baby steps.

All the discussions are fine to reduce the load but I think Saint would have thought this out much ahead of us. I think to get maximum out of this system we have to carry the full load till the last moment i.e., when SAR is actually hit.

Friends, in order to graduate on to a higher level we have to start actual trading (no paper trading). Start with minifty and then increase the stakes.

If we take profits off the table before SAR is hit then we are not maximising the method.

It will take time but we will get there.

Personally I am slowly seeing the method which Saint has so painstakingly put together and trying to teach us and have started benefiting also. But still long way to go. But everyday I get increased confidence to recognise the price action and take action suitably & independently without peeking into this forum to confirm my action. I trade very light, add very selectively (as my gastric lining is delicate) but carry full load till last.

Happy trading friends

Bee

 

[KomaL2099]

Saint Sir
waiting for your week trade to match with mine.

 

[musicjunkie]

Great Discussion going on. Fantastic.....
Rakesh, thanks for sharing all your hard work, I'm with Prabhjeet, will start to use the new Gap strategy right away.

Regards,
MJ-

 

[rakeshluthra430]

Next Add at 2770-7

Stops remain at 2868+15