Going with the Intraday Mini-Flow!!

[niftychance]

Dear Saint,
I was recently going through your thread "Teach a man---", your last comment has forced me to write this message. those words are -
"Please always remain students of the markets.....always remain humble.Never ever let anyone tell you that Trading Mastery is not possible.Never let anyone tell you how you cannot succeed.......Your job as a trader has and is always to put in a perfect trade,and then again and again and again.

Focus on the trading,not on the money.....You can attain great wealth from Trading.You don't have to run newsletters,give tips,sell softwares,........there is more money in Trading than in any of these.Therefore,focus on Trading Perfection.......and reach heights that you imagine as unreachable".

These words has given me confidence that I can trade for living. That confidence was always missing, although I am dealing in shares form last 4-5 years. I have read so many authors from alexander elder, Joe ross to larry williams & linda raschke...so on. but was never able to trade consistantly successfully. some win here and there, then one loss wipe out all gains, trading in options (buying hopes)....etc. But after reading your theard, I am now really able to understand the core concepts for successful trading. your understanding of markets and trading business is absolutely amazing. I think you are one of the best indian professional trader known to public.

I am currently trying to understand both 60 min and intraday 30 min breakout system and from next week i will trade with 1 lot of nifty fut. I hope i will get guidance from you and from all the senior members here.
thanks a lot again

Yes Nilaish,
Saint has given us the confidence that ordinary people can also succeed in trading whereas we read everywhere that only 2% of traders eventually survive. He has put things in perspective with Indian stock market in view. Literature you have quoted is read by everyone but translating into Indian condition and actual trading practice is very very difficult without guidance from some one like Saint. We are very lucky to have him. I for one am highly indebted to him as he has given me confidence that I can survive as a trader - God knows I have lost virtually all my capital and was on the verge of quitting and becoming one of the 98% but now I am back and hopefully in next 12 months ( I am now very careful) eventually be able to recover and be on the positive. Best of luck my friend.
Beethoven

Yes Nilaish, Beethoven

Isn't what this guy has done / is doing here unbelievable ...

Don't know, but what else are superheros about ...

Thanks

 

[beethoven]

Yes Nilaish, Beethoven

Isn't what this guy has done / is doing here unbelievable ...

Don't know, but what else are superheros about ...

Thanks

Yes Niftychance,
He is a superhero and makes me wonder that he is also a human like us. His attitude apart from teaching trading technique also has forced me to think to be more helpful, humble and be more humane. We have become quite ruthless and aggressive in our daily lives but I have now stopped for a breath and review the entire outlook to life. Trading is one of the most difficult profession and forces one to become like "Saint" as this man is & also the general meaning of the word. Happy trading my friend.
Bee

 

[sd_singal]

In the 4 bar reversal, Can we consider the 1000 bar as the first bar? I am asking this because the first bar will be only of 5 minutes. Is it required to get all 4 bars of 30 min.

Regards

 

[uthuman]

In the 4 bar reversal, Can we consider the 1000 bar as the first bar? I am asking this because the first bar will be only of 5 minutes. Is it required to get all 4 bars of 30 min.

Regards

Yes singal. The 10:00 bar is the 1st bar. The first 4 bars ends at 11:30hrs.

 

[chachi]

For once and many times, I think this thread and other Saint’s thread are real gems. I hate to loose these gems and always afraid that I may not find these anywhere again. I often wonder how Saint is able to share his own developed, wealthy trading techniques, when most of us would have kept it as a secret to make money without sharing.

His sharing of knowledge will definitely induce more traderji members to share their knowledge too without seeking any personal gains/benefits.

I sincerely salute him from the deep of my heart and just wish that his gems let flow through this wonderful forum time and again.

Chachi

 

[Sunil]

Hai Sunil,
In your post no:182 i think some mistake/may be i am wrong.please clarify..after bar 4 complete then our SAR is 3499(3492+7).then bar 5 goes new low we should move SAR to high+room of bar3.
Regards
VJAY

Can anybody please confirm this....
At the end of the trading day, Saint Sir did mention something about 2 bar rule....
and he said he'll explain on friday....
is this what Vjay is asking??????
I have no idea about 2 bar rule

 

[inspire]

Dear Sunil - --- Following is the post


Originally Posted by rkkarnani
Saint, A small query, maybe it is already answered by you, but do take the trouble to do it again!!! OR friends if anyone can direct me to the post where Saint has clarified this query :

As today, we have 3 consecutive lower high, lower low bars. The next bar makes a lower low and is still in the process of completion, i.e. it is not yet completely formed. So we have this 4th unfinished bar giving us a consecutive 4 bars with LH and LL.
My query : Do we shift our SAR to previous 2 bars high as soon as the current bar breaches the previous bar's low OR we wait for this bar to complete before shifting our SAR!!!!
Have read it at a number of places where after 4 consecutive bars the SL is shifted to 2 previous bars high but not clear whether we allow the current bar to end or do it as soon as the low is broken!!!
Thanks!!!

Hi RK,

On completion of 4th bar......till the 4h bar is fully formed,stop losses are at day's high(taking shorts) + room.From the 5th bar,every low is your signal to bring stops to the high of 2 bars back.

To reiterate:Bar 1,Bar 2 LH-LL,stop above Bar1,Bar 3 LH-LL,stop above Bar 1,Bar 4LH-LL,stop above Bar 2,Bar 5 LH-LL,stop above Bar 3..........till the 4th bar is completed,no playing around with the stops unless we get a pivot on lower time frames.

Saint

-------------

Regards
Inspire

 

[Sunil]

Inspire,
some misunderstanding...
what u have explained is the 4 bar rule, which i had already applied while in trade...

my query was regarding Vjay's doubt....
he says, that when 4th bar is completed, then High of bar 2 becomes SAR...
this thing i m not sure of, that's why i put the qs. here

next, he says that when bar 5 makes new low, then high of bar 3 becomes SAR - this thing is right, and is as per the 4 bar rule...

 

[Smart_trade]

Inspire,
some misunderstanding...
what u have explained is the 4 bar rule, which i had already applied while in trade...

my query was regarding Vjay's doubt....
he says, that when 4th bar is completed, then High of bar 2 becomes SAR...
this thing i m not sure of, that's why i put the qs. here

next, he says that when bar 5 makes new low, then high of bar 3 becomes SAR - this thing is right, and is as per the 4 bar rule...

Sunil,Vijay,inspire

I think all of you are talking about the same thing and all are correct.

4 bar rule becomes applicable when we have min 4 consecutive bars with lows successively lower than the earlier bar in case of the down move.Also as per my understanding all 4 bars must close successively lower and 1-2 bars must be WRBs in this sequence. These two conditions are not specifically mentioned by Saint but from the examples I studied ,I have formed this impression.

If all the three conditions are not present then it makes no sense lowering the SAR level to high of bar 2+space after 4th bar,high of bar 3 +space after 5 th bar etc. So in effect 4 bar rule to be applied after a sustained and strong move with the purpose of protecting the profits and participating in the likely reversal !!!

This is my interpretation.

Best Wishes,

Smart_trade

 

[sunkesrao]

being a new entrant I could not understand much of it. Could anybody suggest me a few of Saint's articles on day Trading. Alternately any good advise/ tips on Day trading.?