Going with the Intraday Mini-Flow!!

[rakeshluthra430]

Feedback for the above suggestion would be appreciated

Ratan....try 5 March 08.

I am posting the 30 min and 15 min charts of that day and the trades.

Will post more side-days charts...

Rakesh

 

[ratan jain]

Ah....have to go back and take a look at all your posts,Ratan before giving any feedback.

Saint

Post No. 2356 Saint

Also, the last 2 days have cleared the following points for me

The concept of first move and second move for the day
The concept of looking at 30 minute bars for the majority of time
The concept MOVING the filter to next bar in case of non trigger of the initial order

The points that I am not so clear about are..

When to go down to 15 mins
and are all pivots on 15 mins SAR or only some...

And suppose we have one upmove in morning so thats first move of the day so filter is 14 points
Then the market goes down, that is second move for the day so filter is then 7 points.
Then the market goes up again... NOW... is this called the third move of the day or and we have to keep the moving filter at 7 points or do we consider it the same early morning move and keep the moving filter at the original 14 points?

I think Saint has replied to the above quesry today in some post, and from what I gather, it is supposed to be called the third move of the day and the filter has to be kept at 7 points.

I hope I have not confused anyone

 

[Saint]

Yes Alok, I think bit of price congestion is not sufficient reason to get down to 15, we must see the pivot formation on 30 (may not be very protruding ) and to see it clearly,we get to 15. Or a long sideways consolidation on 30.

Bit of congestion is too frequent and if everytime we get to 15,we will be reversing too soon and too often and there will be no difference between we flow traders trained by Saint and the hundreds of "daytraders " you see in any brokerage dealing rooms with traders trying to catch each up and downmove and make 6 trades a day mostly all loosing !!!

We have a big edge (that we are not reversing too often and we are following a systematic approach) lets not loose it.We reverse only when mkt makes its intentions to reverse loud and clear. And on large trend days we will be better off holding our position till the end avoiding frequent reversals.

I am no expert,also learning like everyone,make my share of mistakes but these are my views.

Regards,

Smart_trade

And yes,that is our edge.......going against the very heart of daytrading folklore of swiftness,nimbleness,fast trail stops,a 101 trades in a day,.........not at all saying that great success cannot be had doing that,but saying that there is great success for us "slower" folks too.

The attitude is that we expect the markets to tell us clearly of a reversal point.........and V reversals don't exactly do that.But structuring our Plan as per these V reversals that happen very rarely is our doom and destruction.The Plan is always to deal with the normal days,and have strategies in place where we are not too hurt by the V reversals.

It is that very allowing the trade its run that brings us great profits........it is that very sticking to the Modus Operandi,come what may, without shifting day to day that allows for stress free Trading.......and we therefore thank our Stars that our greatest nemesis,the V reversals(in this case twice in a day) has come and gone and we end the day still with a decent profit.

Saint

 

[Saint]

Post No. 2356 Saint

Also, the last 2 days have cleared the following points for me

The concept of first move and second move for the day
The concept of looking at 30 minute bars for the majority of time
The concept MOVING the filter to next bar in case of non trigger of the initial order

The points that I am not so clear about are..

When to go down to 15 mins
and are all pivots on 15 mins SAR or only some...

And suppose we have one upmove in morning so thats first move of the day so filter is 14 points
Then the market goes down, that is second move for the day so filter is then 7 points.
Then the market goes up again... NOW... is this called the third move of the day or and we have to keep the moving filter at 7 points or do we consider it the same early morning move and keep the moving filter at the original 14 points?

I think Saint has replied to the above quesry today in some post, and from what I gather, it is supposed to be called the third move of the day and the filter has to be kept at 7 points.

I hope I have not confused anyone

Not at all.......certain questions are structured to show everyone else how brilliant the questioner is,and others are structured that show a sincere desire to understand something.....You are the latter,my friend,so keep em flowing.

Answer to Question 2:Yes,your understanding is correct........the 14pt moving filter is only to deal with false first moves.After that it is 7pt all the way.Once Move 1 is over it is 7/5 all the way.

Answer to Question 1:

a.When the 30min charts show 4 down bars,and no pivots,we could move our stops to the high of the 2nd bar.................or if you have a pivot on the 15/20,then that takes preccedence.Pivots always more important.So,this is an instance where you drop down to the 15min charts.

b.When the 30min charts put up a WRB,then we want to see on the 15,if there are any pivots to latch on to.

c.When the 30min shows a lot of tails and sideways moves,drop down to the 15 for greater clarity.


But remember one important thing:Most often than not,in a great number of instances,all 3 timeframes ---15,30,60---line up and fire together.The 15 may break its pivot high and then the 30/60 comes in line as well,and then comes the big move.And many other instances,the 15 breaks its pivot high and falls flat as the 30/60 timeframes beg to differ from the opinions of the 15.So just a pivot high break on the 15 is not enough unless there is another factor,say volume or a reversal bar on a higher time frame,to support it.

More in the next!

Saint

 

[ratan jain]

Not at all.......certain questions are structured to show everyone else how brilliant the questioner is,and others are structured that show a sincere desire to understand something.....You are the latter,my friend,so keep em flowing.

Answer to Question 2:Yes,your understanding is correct........the 14pt moving filter is only to deal with false first moves.After that it is 7pt all the way.Once Move 1 is over it is 7/5 all the way.

Answer to Question 1:

a.When the 30min charts show 4 down bars,and no pivots,we could move our stops to the high of the 2nd bar.................or if you have a pivot on the 15/20,then that takes preccedence.Pivots always more important.So,this is an instance where you drop down to the 15min charts.

b.When the 30min charts put up a WRB,then we want to see on the 15,if there are any pivots to latch on to.

c.When the 30min shows a lot of tails and sideways moves,drop down to the 15 for greater clarity.


But remember one important thing:Most often than not,in a great number of instances,all 3 timeframes ---15,30,60---line up and fire together.The 15 may break its pivot high and then the 30/60 comes in line as well,and then comes the big move.And many other instances,the 15 breaks its pivot high and falls flat as the 30/60 timeframes beg to differ from the opinions of the 15.So just a pivot high break on the 15 is not enough unless there is another factor,say volume or a reversal bar on a higher time frame,to support it.

More in the next!

Saint

Thanks Saint!

I think this answer of yours should solve the main query of when to drop down to lower 15 mins timeframe charts for everyone including me.

Actually because you have capsuled the points like a.. b... and c... its easier to understand, because I am sure you have repeated these answers a lot of times, but I think they are here in point form for the first time, all together.
It clears up a LOT about the system for me.

Thanks very much Saint.

 

[orderflow13]

Ratan....try 5 March 08.

I am posting the 30 min and 15 min charts of that day and the trades.

Will post more side-days charts...

Rakesh

Rakesh,
Thanks for the find, just read Saint sirs reply and ur chart, on 30 it showing so much tails,whipsaws and on 15 its so smooth no whipsaws amazing to know that chart is of same underlying and of same day.

 

[Saint]

Thanks Saint!

I think this answer of yours should solve the main query of when to drop down to lower 15 mins timeframe charts for everyone including me.

Actually because you have capsuled the points like a.. b... and c... its easier to understand, because I am sure you have repeated these answers a lot of times, but I think they are here in point form for the first time, all together.
It clears up a LOT about the system for me.

Thanks very much Saint.

Most welcome,my friend.

Saint

 

[Saint]

Ratan....try 5 March 08.

I am posting the 30 min and 15 min charts of that day and the trades.

Will post more side-days charts...

Rakesh

March 5 2008:

TRADE 1:LONG 4873,EXIT 4830.......-43 pts
TRADE 2:SHORT 4830,EXIT 4871.....-41pts
TRADE 3:LONG 4871,ADD 4904,EXIT 4920......+65 pts.

Net Profit/Loss in Points=-19 pts

Saint

 

[orderflow13]

Saint sir i am also in Que, plz answer whenever you find suitable time

 

[Saint]

Saint sir i am also in Que, plz answer whenever you find suitable time

Yep,Alex......

Saint