Going with the Intraday Mini-Flow!!

[Prabhjeet]

Lets not have any confusion over here on this 4 bar upmove/downmove and the use of 2 bar...

Though it is highly unlikely that to wait for the 30 min bar to complete or not... the SL is going to be taken off.... until some huge V move....

But the basic concept of using the 4/2 bar is that ... when CONSTANTLY the high/low of previous bar is taken... it shows enough strength/weakness in that direction... now completion or not completion is not the key to measure this weakness/strength...

So once this is done i.e. 4 bar down/upmove is formed... then if the 2 bar low/high is taken it gives the indication of trend reversal...

Though I do not wait for the bar to get complete... as soon as I see low/high breached I modify my SL order...

As the TF is 30 min... the 2 bar back high to be breached within 30 min (where low is also taken and high is quite unlikely) so one can use to modify order as per comfort level...

But do place the order... trade mechanically!

Regards

Totally agree with MB, our only focus while using 2 bar stop is that we have lower lows, we dont care where the bar finishes, so the trail should be 10.30 bar high + 7

 

[Smart_trade]

For balance 2/3 position I will wait for the pivot atleast on 20.No hurry to ring the cash register.

Also look forward to add below the PL if and when formed

Smart_trade

 

[milkyblack]

MB,

I am still learning. These were my doubts. Now lets wait for Saint to clarify what he meant.

vps

Sure VP ... Indeed me too waiting for Saint's reply... It would remove my confusion too... keep posting

Regards

 

[Prabhjeet]

ST, I am not comfortable with idea of profit taking then adding as well, we might end up adding at a price that takes some profits away. So I am only using profit taking and then trailing stops for rest of position, not sure how profit taking and adds can exist together

 

[musicjunkie]

Moving very fast down. Im staying put with my position, unless we go to crazy levels ofcourse
SM makes alot of sense
MJ-

 

[Prabhjeet]

What does SM mean MJ, is it Smart money??

 

[anupsoni]

yes gr8 e.g of jpassociates

 

[musicjunkie]

LOL Prabhjeet! Smart Trader= SM

MJ-

 

[musicjunkie]

Shorted HDIl and covered.
+10 points plus brokerage.....covered too early I guess....

MJ-

 

[Smart_trade]

ST, I am not comfortable with idea of profit taking then adding as well, we might end up adding at a price that takes some profits away. So I am only using profit taking and then trailing stops for rest of position, not sure how profit taking and adds can exist together

Quite see your point Prabhjeet,my logic ( if at all it could be called that) is we had a long move,we take 1/3 profit and wait to see if there is a reversal.

But in the meanwhile if PL is formed and it cracks down subsequently,for me the mkt is showing great weakness so fit case to add and milk it all the way down ,of course if the money management permits ...This is what we did on Friday and it was very yummy !!!

Best wishes my friend,

Smart_trade