Going with the Intraday Mini-Flow!!

[Flock]

Re: Saint's Intraday Miniflow - live discussion

arm hammer on 30

3 p.m bar should make things a little more clear.

 

[pleaseharsh]

Re: Saint's Intraday Miniflow - live discussion

everyone sar would have hit by now....

 

[Flock]

Re: Saint's Intraday Miniflow - live discussion

Looks like, but I hope everybody booked some profits from that short trade.

 

[pleaseharsh]

Re: Saint's Intraday Miniflow - live discussion

not me atleast...should have booked atleast 1/3 when that hammer was formed....newys i m stopped out.....

 

[Flock]

Re: Saint's Intraday Miniflow - live discussion

I booked half at 2694 and exited the rest at 2717.

I use a profit booking strategy that has kept me in good shape all through the last two difficult weeks. Will come and post here later giving details.

It reduces the risk considerably, but since risk is proportional to reward it will reduce rewards also. Just that I find it effective. In this week yesterday was my only losing trade.

Rgds

 

[sachinsamani]

Re: Saint's Intraday Miniflow - live discussion

only vineet buddy.. i am just 30 years old yaar

Iam 29 yaers old. So i can call u Sir.

Sachin

 

[Flock]

Re: Saint's Intraday Miniflow - live discussion

I use a profit booking strategy that has kept me in good shape all through the last two difficult weeks. Will come and post here later giving details.

It reduces the risk considerably, but since risk is proportional to reward it will reduce rewards also. Just that I find it effective. In this week yesterday was my only losing trade.

Rgds

This is my profit booking strategy with which I am comfortable. Cannot vouch for the quality of it as I have used it only for a limited time. This is a very defensive strategy.

1. Some observations:

a) Real risk of a trade:

What is noticed is that what ever may be the initial risk of a trade, the actual risk is around 25 to 30 points. Most of the time if our SAR is hit in a loss, it is not likely to be greater than this value. This of course assumes that we faithfully move SAR watching out for reversal patterns, looking at multiple time frames etc, follow WRB rules, etc exactly as specified by Saint Sir.

b) Most trades even those that reverse (like the one we had today) achieve a profit of 25 points. Last two weeks quite a few trades missed this 25 target just by 3-4 points (hard luck).

2. Entry and SAR: Exactly as per rules. Filter of 14 and 8 (one extra as Mini Nifty is slightly more noisy than Nifty Fut.).

3. Adds: Not using adds. Not comfortable with adds in intraday. (personal preference).

4. When trade moves into 25 points profit book out half. Today entry was at 2719. So booked half at 2694. Move the stop loss for the rest to Break even point (for the rest). (2717 today). Have observed that if the trend continues this stop loss is usually not hit. A more aggressive and maybe a slightly better strategy would be to move stop to a point where the net for the trade if SL is hit will be NIL.

5. Further stop moves as per SAR (when SAR overtakes the SL).

6. if SAR hits and initial trade is in a loss, then reverse. If SL or SAR hits and initial trade is in a profit (at least 25 pts) exit - Wont trade the second move. If SAR hits again for the second trade, exit for the day. Wont trade the third move.

7. Have observed that new moves rarely happen after 2:45. Normally 2:30 results in the last move and continues till close. So into shutdown mode at 2:45. No new trades after 2:45. Three possibilities:

a) Existing trade is in a profit with half covered at 25 pts. Will move SL according to SAR or 15 min pivots which ever is better till 3 p.m. From 3 p.m. it is 5 mins bar to bar till 3:15. After that it is moving SL with the help of tick chart (chasing the price) till stopped out or 3:20 is reached. Here close out the position. (Gives 10 mins to call broker in case of technical difficulties).

b) Existing trade is in profit but not achieved 25 pts initial target. Will book half at 2:45. Move SL for the rest to a point where if it hits the trade (including booked lots) will not be in a loss. At 3 p.m. if remaining lots are in profit move SL to break even point for the remaining lots. Then as in (a).

c) Existing trade is in loss. Will move as per SAR or 15 min pivots and take the loss if it hits.

 

[myvineet]

Re: Intraday Miniflow Trades for Today: Saint's Method

Today's trade : entry triggered straight away by 10.30 bar & adds done at low of 11.30 bar .

.second trade long trigger at crossing of 2.00 bar high ..entry looks like late one but there is no pivot at 15/20 & hourly bar doesn't confirm at all..

regards

Vineet

 

[TFL]

Re: Saint's Intraday Miniflow - live discussion

This is my profit booking strategy with which I am comfortable. Cannot vouch for the quality of it as I have used it only for a limited time. This is a very defensive strategy.

1. Some observations:

a) Real risk of a trade:

What is noticed is that what ever may be the initial risk of a trade, the actual risk is around 25 to 30 points. Most of the time if our SAR is hit in a loss, it is not likely to be greater than this value. This of course assumes that we faithfully move SAR watching out for reversal patterns, looking at multiple time frames etc, follow WRB rules, etc exactly as specified by Saint Sir.

b) Most trades even those that reverse (like the one we had today) achieve a profit of 25 points. Last two weeks quite a few trades missed this 25 target just by 3-4 points (hard luck).

2. Entry and SAR: Exactly as per rules. Filter of 14 and 8 (one extra as Mini Nifty is slightly more noisy than Nifty Fut.).

3. Adds: Not using adds. Not comfortable with adds in intraday. (personal preference).

4. When trade moves into 25 points profit book out half. Today entry was at 2719. So booked half at 2694. Move the stop loss for the rest to Break even point (for the rest). (2717 today). Have observed that if the trend continues this stop loss is usually not hit. A more aggressive and maybe a slightly better strategy would be to move stop to a point where the net for the trade if SL is hit will be NIL.

5. Further stop moves as per SAR (when SAR overtakes the SL).

6. if SAR hits and initial trade is in a loss, then reverse. If SL or SAR hits and initial trade is in a profit (at least 25 pts) exit - Wont trade the second move. If SAR hits again for the second trade, exit for the day. Wont trade the third move.

7. Have observed that new moves rarely happen after 2:45. Normally 2:30 results in the last move and continues till close. So into shutdown mode at 2:45. No new trades after 2:45. Three possibilities:

a) Existing trade is in a profit with half covered at 25 pts. Will move SL according to SAR or 15 min pivots which ever is better till 3 p.m. From 3 p.m. it is 5 mins bar to bar till 3:15. After that it is moving SL with the help of tick chart (chasing the price) till stopped out or 3:20 is reached. Here close out the position. (Gives 10 mins to call broker in case of technical difficulties).

b) Existing trade is in profit but not achieved 25 pts initial target. Will book half at 2:45. Move SL for the rest to a point where if it hits the trade (including booked lots) will not be in a loss. At 3 p.m. if remaining lots are in profit move SL to break even point for the remaining lots. Then as in (a).

c) Existing trade is in loss. Will move as per SAR or 15 min pivots and take the loss if it hits.

Arm,

Its good to have a strategy to exit/book profit.
Need to back test the flow with the said 'classic method' of profit booking you said...shifting to break-even after achieving Target 1. But think some good moves will be lost... Need thorough back testing.

Haribird.

 

[Flock]

Re: Saint's Intraday Miniflow - live discussion

Arm,

Its good to have a strategy to exit/book profit.
Need to back test the flow with the said 'classic method' of profit booking you said...shifting to break-even after achieving Target 1. But think some good moves will be lost... Need thorough back testing.

Haribird.

Hari,

Thanks. This is just based on observation. Like you said some moves may be lost. With help from others maybe we can improve on this. Some tweaking may be required. For e.g. you can try re-entering at the next add point, etc.

Rgds

PS: If somebody has been paper trading the system, maybe they can help test this. I dont have the software or data. (time too).