Going With The 60min Flow!!!

Which Futures do u all trade with real Money?

  • MiniNifty

    Votes: 28 40.6%
  • Nifty

    Votes: 50 72.5%
  • Aban

    Votes: 16 23.2%
  • L&T

    Votes: 18 26.1%
  • Hdil

    Votes: 6 8.7%
  • JP asso

    Votes: 6 8.7%
  • RIL

    Votes: 5 7.2%
  • Relcap

    Votes: 11 15.9%
  • Suzlon

    Votes: 6 8.7%
  • Educomp

    Votes: 8 11.6%

  • Total voters
    69
  • Poll closed .
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Re: 60min Flow Trades for the Week: Saint's Method

Read some debate about whether a moving filter is applicable to Pivot and 2 bar reversals. Moving filter is a beautiful concept and though we had not used it very routinely in 60 min flow ( we use it in mini flow very routinely) we can incorporate this concept in 60 min trading also.

Saint has suggested use of moving filter in his Post No 8583 of 21 Nov 2008on P 859 in master thread and I am reproducing it as under :

One reason to have gone long today would have been a pivot break or more of a sideways congestion breakout......the reason why you should not take it is as follows:

We keep a filter and taking it out demonstrates strength.....even our old filter does not get taken out by the breakout bar H2559,next bar H2568,next bar H 2571,next bar H 2575........the basis of the moving filter came from this thread,hidden now in tonnes of posts.....we have never needed to use it much over here thus far,but then there comes along a day like today.

The virtues of the breakout bar cannot be extolled enough......if the first bar doesn't get us in,the second bar.....when price blasts through a big filter,there is conviction for a reversal.And a limp breakout and the next and then the next.........without hitting the Filter,no conviction.Therefore short.

No idea whether we gap up or down.......but as of today,Price hasn't given us that extra conviction to revert to longs.

Saint
__________________
"You cannot change the direction of the wind,but you CAN adjust your sail..."


Friends remember that Saint has given us 60 min method as a template and we have to improve it by adding useful parameters which will help us trade better. So adding moving filter in my opinion is a great step towards avoiding reversal on limp breakouts thus minimising whipsaws and making our lives as traders a bit less difficult.

So if comfortable with it add in your trading toolbox right away ,if not comfortable,defer for some more time.

Best Wishes,

Smart_trade
 
Re: 60min Flow Trades for the Week: Saint's Method

The Red words say that without hitting the filter. So even if filter is hit after 3 bars, we reverse position WITHOUT using moving filter.

regards,
vin

Dont agree with your interpretation vin, if filter is not hit,there is no question of reversal. Saint in the post talks about limp breakouts and strong convincing breakouts and he says without hitting filter clearly means without hitting moving filters in successive bars and moving filter is keeping us out of reversal.

This is my interpretation.

Best Wishes,

Smart_trade
 
Re: Live discussion Saint's - 60 minute flow

Basically.today counts as a gap against our direction of play but not below our stops..........we wait for the 5min bar to form.Lows of 5min bar correspond to our stops(2 bar method and a mini pivot).

Therefore reversal happens below the 5min bar........simply because our SAR is hit and we reverse our positions.

Saint
 
Re: Live discussion Saint's - 60 minute flow

hi all,

Today only i have joined this site.I need your help for satyam share.
I have 110 satyam share at price 35.its current price is 58 .should i sell it now and withdraw my profit.or should i wait.

Plz Help
Samira
 
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