Going With The 60min Flow!!!

[Satyen]

Re: Live discussion Saint's - 60 minute flow

Thanks Prabh and Bee

Regards
Satya

 

[Satyen]

Re: Live discussion Saint's - 60 minute flow

Hi Bee can you please post your experiments with moving average and pivot when u get time

Regards
Satya

 

[Satyen]

Re: Live discussion Saint's - 60 minute flow

Satya I would nt have taken the short trade had I been trading Nifty, it doesnt pass my RSI signal Filter, have a look

The areas marked in circle are Valid Pivots for me atleast

Thanks prabh very much will surely check RSI(3) high /low for pivot high and low at least for a years data and will see how it works .....
but before that if u can please explain bit more why you take RSI and why RSI above and below 50 mark points a pivot etc ...
pardon me as dont know much about the indicator and its logic
if u can explain even laymans language then it will be great help

regards
Satya

 

[beethoven]

Re: Live discussion Saint's - 60 minute flow

Bee I am not sure if faster action will guarantee more profits every time, if that was the case, the people trading Daily or weekly Pivots would be earning lots lesser profits in comparison to us but thats essentially not the case.

I have tried very hard to understand these much aggressive pivots but I cannot find merit over my slower method, I turn to 2 bar or 30 min pivot stoploss when moves starts getting really vertical otherwise I am ok with giving small losses in form of my initial stoploss to earn larger profits.

Though thats my view, many including even Saint Sir dont agree,thats fine

Prabh,

I am trying a variation - normally when you enter then to give chance for the trade to progress we have to give more leeway (a conservative approach) then as we progress and add to our positions then in order to protect our profits we have to see what ST/Rakesh are doing otherwise even a small reverse than warranted (read late exit)will eat into our profits at a faster rate (because of the more lots we are carrying at that time than at the beginning).

If no adds then what you say is correct. Profit/loss per unit rise of the underlying security remains same thru out the trade but same is not true when you add lots.

Idea is to maximise our profits in a trade run up so adds are a must so to protect our profits we have to see the reversal signals very aggressively otherwise we loose out.

My personal experience says so.

Happy trading

Bee

 

[Prabhjeet]

Re: Live discussion Saint's - 60 minute flow

Thanks prabh very much will surely check RSI(3) high /low for pivot high and low at least for a years data and will see how it works .....
but before that if u can please explain bit more why you take RSI and why RSI above and below 50 mark points a pivot etc ...
pardon me as dont know much about the indicator and its logic
if u can explain even laymans language then it will be great help

regards
Satya

RSI actually measures the Overbought (reading above 70) and oversold (reading below 30) levels for any entity we are trading.

But here we dont use RSI to catch tops and bottoms as most people try to use. Here we are using the basic tenant of Saint's theory that in an Uptrend we have progressively higher pivot lows and vice versa for Downtrend.

Now when I am using RSI in Uptrending stock, a stock will keep on moving up and RSI will be above 50 now if the stock declines for sometime the RSI will dip below 50 and then it will start to rally again and if we have a healthy rally the RSI will again move above 50 so that marks a Pivot low for me.

Now why I use RSI for filtering Pivots is because sometimes in an Uptrend we get a decline that is very shallow and we tend to get whipsawed taking the Pivot break of such Shallow Decline, hence RSI will give us signal only when we get a healthy decline.

Secondly it solves the problem of which sideways movement to use as Pivot, when we have a slightly longer consolidation the RSI will dip below 50 and if it manages to rise above 50, that would be a valid Pivot, if it stays below 50 wait for it to rally above 50.


Some people may not agree with 50 line for using Pivot deciding levels, you may try 60\40 or 70\30 levels for deciding Pivots, but I am ok with 50 levels.

If you want more laid back approach use RSI of more than 3 which I have used and if you want to make it more agressive you can scale it down to 1 but I have found RSI (3) ok for me.

Please dont try to prove this view correct or incorrect, if you backtest it, you will certainly see its useful but it may not suit everybody's personality. It suits me so I am using it

Regards

 

[Satyen]

Re: Live discussion Saint's - 60 minute flow

Thanks
No i m not trying to prove this correct or incorrect but wanted to learn it as have read a book where auther wanted to filter out pivots by stochastic ... but cud not understand that ......
hope will learn from you more

Regards
Satya

 

[ThE HaMmEr]

Re: Live discussion Saint's - 60 minute flow

RSI actually measures the Overbought (reading above 70) and oversold (reading below 30) levels for any entity we are trading.

But here we dont use RSI to catch tops and bottoms as most people try to use. Here we are using the basic tenant of Saint's theory that in an Uptrend we have progressively higher pivot lows and vice versa for Downtrend.

Now when I am using RSI in Uptrending stock, a stock will keep on moving up and RSI will be above 50 now if the stock declines for sometime the RSI will dip below 50 and then it will start to rally again and if we have a healthy rally the RSI will again move above 50 so that marks a Pivot low for me.

Now why I use RSI for filtering Pivots is because sometimes in an Uptrend we get a decline that is very shallow and we tend to get whipsawed taking the Pivot break of such Shallow Decline, hence RSI will give us signal only when we get a healthy decline.

Secondly it solves the problem of which sideways movement to use as Pivot, when we have a slightly longer consolidation the RSI will dip below 50 and if it manages to rise above 50, that would be a valid Pivot, if it stays below 50 wait for it to rally above 50.


Some people may not agree with 50 line for using Pivot deciding levels, you may try 60\40 or 70\30 levels for deciding Pivots, but I am ok with 50 levels.

If you want more laid back approach use RSI of more than 3 which I have used and if you want to make it more agressive you can scale it down to 1 but I have found RSI (3) ok for me.

Please dont try to prove this view correct or incorrect, if you backtest it, you will certainly see its useful but it may not suit everybody's personality. It suits me so I am using it

Regards

Centerline Crossover
The centerline for RSI is 50. Readings above and below can give the indicator a bullish or bearish tilt. On the whole, a reading above 50 indicates that average gains are higher than average losses and a reading below 50 indicates that losses are winning the battle. Some traders look for a move above 50 to confirm bullish signals or a move below 50 to confirm bearish signals.



dis is what i have read ..........

go thru dis for details about rsi.......

http://stockcharts.com/school/doku....hnical_indicators:relative_strength_index_rsi

thanks prabhjeet fr dis centre line thing........

thanks really.....i completely get what u wanna say using centree line 50.......

it will b much clear to all after gng thru above site......POSTED BY SAINT SIR IN TEACH A MAN TO FISH

am just re-posting it.....


and yeah 1 mre thing......prabhjeet u just solved my problem of viewing clear pivots in GOLD charts...........on 29 dec we had a good fall in gold....but i was unabe to reverse it......but now using ur indicator...it is much clear where i wud hav reversed......nd on d upper side...i.e. when we r short d opposite will apply....i.e. above 50 if rsi goes....and comes down....den it is a healthy pivot.......


regards

neeraj

 

[ANBE SHIVAM]

Re: Live discussion Saint's - 60 minute flow

dear trader friends
I am happy to see again LIVE discussion after a long period.thanks bee,prabhjeet,satya,faith,neeraj & others for having good discussion.
some people are still missing,hope they will return soon.

 

[Satyen]

Re: Live discussion Saint's - 60 minute flow

dear trader friends
I am happy to see again LIVE discussion after a long period.thanks bee,prabhjeet,satya,faith,neeraj & others for having good discussion.
some people are still missing,hope they will return soon.

Yes Srini as traders are bored people sitting in one room alone through out the day ........need to talk in the thread and learn new ideas like in a office ....

Again as Saint is not happy with live posting of current trades so discusing new things about 60 min pivot .......
thanks for the thread

Reagards
Satya

 

[vinst]

Re: Live discussion Saint's - 60 minute flow

NF long Sar at today's low now.

vin