Going with the Intraday Mini-Flow!!

[rkkarnani]

We definately had a clear pivot on 15 min timeframe. We trade 30 min here and go to 15 or 20 only if the pivot on 30 is not very clearly visible. In todays case,there was no indication of pivot on 30 so we did not reverse at 15 min pivot high break. This is a stop and reverse system so we have to be very careful in reversing on 15 or we will end up reversing too often and too soon.

This is what was in my mind when the mkt was breaking pivot high on 15 min but there was no indication of pivot or sideways movement on 30.

I also had a feeling that we left too much on table today but I am satisfied that we traded as per the system.

Reversing at 15 min pivot looks very logical action now but if we had reversed and had the mkt sold off again,we would have cursed ourselves for reversing without any indication on 30.

This is my reasons for not reversing at 15 min pivots.I am confident that we did a right thing. This is as per my understanding of the system.

I welcome others to share their thoughts,and will be too happy to change my understanding if I am goofing up somewhere.

Best Wishes,

Smart_trade

Well there is some difference in the perception of the system.... As per my understanding, when the market starts to reverse against the direction of the trade in 30 minutes chart we take a peek at the 15 minute chart!!! Hence my contention that we did need to consider the said PH in 15 TF!
It may be the right action that you took, but as you said let us try to be clear about it with no doubts!!!
And its not about leaving anything or much on table, its more about trading correctly!!!!
Well this is my view!!!
Trust others would like to post there views too!!!

 

[Saint]

Just give me 15minutes.......will explain.

Saint

 

[Prabhjeet]

Completely agree with ST, we should only switch to 15 min. charts when we see a pivot on 30 but not very clear, so we switch to 15 min and see whats happening there, mostly we should be able to locate a pivot that will infact be glaring at us, rest we should not keep 15 min. on our screens, just keep 30 min. on all the time and you will feel less forced to move stops quickly.

Yesterday we had same situation when some of our friends switched to 15 min. charts a bit too soon and what we ended up was whipsaws on both the sides.

Regarding your point ST, that we left too much on table, you know it, its same even in 60 min. flow, we have to leave a lot on table to make even bigger amounts so no worries, we will have a good trending day that will offer everything on the table with the table itself

 

[Saint]

Completely agree with ST, we should only switch to 15 min. charts when we see a pivot on 30 but not very clear, so we switch to 15 min and see whats happening there, mostly we should be able to locate a pivot that will infact be glaring at us, rest we should not keep 15 min. on our screens, just keep 30 min. on all the time and you will feel less forced to move stops quickly.

Yesterday we had same situation when some of our friends switched to 15 min. charts a bit too soon and what we ended up was whipsaws on both the sides.

Regarding your point ST, that we left too much on table, you know it, its same even in 60 min. flow, we have to leave a lot on table to make even bigger amounts so no worries, we will have a good trending day that will offer everything on the table with the table itself

Thanks Prabhjeet.......nothing much to add to the above.

Saint

 

[Prabhjeet]

I feel that using 15 min. was just a tweak to save the windfall profits but unfortunately we are trying to replace the pillar of our system (30 min.) with a single brick

 

[Smart_trade]

Very well said Prabhjeet ,Thanks

Smart_trade

 

[Prabhjeet]

Thanks Prabhjeet.......nothing much to add to the above.

Saint

Thanks Saint, I myself was thinking that we guys need to relax a bit and let our trades develop. Though we are day trading but it takes time for trades to evolve and we should not stand against the flow

Regards

 

[ThE HaMmEr]

Completely agree with ST, we should only switch to 15 min. charts when we see a pivot on 30 but not very clear, so we switch to 15 min and see whats happening there, mostly we should be able to locate a pivot that will infact be glaring at us, rest we should not keep 15 min. on our screens, just keep 30 min. on all the time and you will feel less forced to move stops quickly.

Yesterday we had same situation when some of our friends switched to 15 min. charts a bit too soon and what we ended up was whipsaws on both the sides.

Regarding your point ST, that we left too much on table, you know it, its same even in 60 min. flow, we have to leave a lot on table to make even bigger amounts so no worries, we will have a good trending day that will offer everything on the table with the table itself

VERY WELL SAID FRIEND..........please can u post an example if possible where we shud reverse using a 15 min tweak...........and another example where we shudn'y have used d tweak......nd if used we wud have been kicked ... .........i hope u understood my request....




THANK U ....

 

[orderflow13]

my childish qs. what will happen if we never look at 15 min chart at all ? why i cant trade with 30 min chart only ?
If there ant pivots ok then,i will manage it by position sizing.??

 

[Prabhjeet]

VERY WELL SAID FRIEND..........please can u post an example if possible where we shud reverse using a 15 min tweak...........and another example where we shudn'y have used d tweak......nd if used we wud have been kicked ... .........i hope u understood my request....




THANK U ....

Sorry Neeraj I dont have historical 30 & 15 min data, I use Power Indiabulls charts for live intraday trading.

I am sure some of our friends like ST,Satya, MJ would help