Going with the Intraday Mini-Flow!!

[VJAY]

Raise Stops To 3342-7=3335


Shall answer questions later.......no questions if had read "Teach A Man...."

Saint

Sir,
Can you please explain it .
I donot understand after your clarification about the abovetrade.Also last trade of long at 3338.
Take your time sir,it's only for clear about the trade.though i not took these trades.My short triggered at 3313 and covered it at 3310 looking confussions in my tradings.
Regards
VJAY

 

[orderflow13]

Saint sir ,
Today i exited by covering shorts at 3270, early in the day, in profit but not happy, as its 2nd day i am not sticking with the plan/rules , we were looking at huge volatility and danger of terminal freezing was in mind, i found myself lacking in mental strength required for day trading, some where one frnd posted about NLP. Is it required to get hands on NLP and cognitive therapy kind of things for day trading ? or block every thing and focus on SAR ? i am asking this with danger of some one misunderstanding i am trying to be too smart or very stupid.But its genuine qs. and genuine problem i seems to be facing
plz skip the qs. if its very vague and astray as i cant frame it in words

 

[ARMHM]

Guys just chill.
Freeze is a long way off, give 5 points room for your stoploss if you are very worried.

And about banning short selling,
He probably means SLB, he will have to close the F&O market to "ban" short selling. And in that case we will be allowed to close our position. So all is well.

MJ-

Just my opinion. I think banning short selling is for cash segment only and that too delivery based short selling. Intraday and F&O shortselling ban is out of question.

 

[vpsarathy]

Just my opinion. I think banning short selling is for cash segment only and that too delivery based short selling. Intraday and F&O shortselling ban is out of question.

Chairman of SEBI said in an interview that SEBI will not ban Short Selling in futures as it would mean closing F&O Market completely.
vps

 

[Smart_trade]

Raise Stops To 3342-7=3335


Shall answer questions later.......no questions if had read "Teach A Man...."

Saint

Went back to Teach a man....compilation and read the relevant things last night.

Most of the trades now become clear,only means that we have to visit that thread again and again,we tend to overlook many things.

My understanding of raising stop to 3342-7 is as under :

I am looking at 15 min chart, 10=00 and 10=15 were two up bars,then we had 10=30 and 10=45 bars as two corrective bars,then came a breakout 11=00 bar and the low of this bar (3342-7) if cracked will null the up breakout and the mkt will turn bearish.

11=15 bar ,a kind of doing nothing bar but a black candle,still ok,

11=30 bar again a black candle and cause for worry,it gave a black candle on 30 as well,time to bring the stop and reverse to 3342-7

11=45 bar the SAR hit,putting us in short position and the rest is history !!!

Happy for having figured it out, hopefully correctly.

Smart_trade

 

[Smart_trade]

Decreasing the stop on last third to 3331 + 7=3338

Saint

My understanding for getting long here on SAR is as under :

12=15 bar on 15 was a down WRB,Saint brought his SAR for short positions at the high of this bar 3331+7,so if this level is taken out,then our bearish view is no longer valid and should turn into bullish one !!!

Smart_trade

 

[VJAY]

Dear ST,
Can you please post yesterdays 15 min chart,I missed it to save.Normally I only save 60/30/20 min charts.
Thanks & Regards
VJAY

 

[rkkarnani]

Went back to Teach a man....compilation and read the relevant things last night.

Most of the trades now become clear,only means that we have to visit that thread again and again,we tend to overlook many things.

My understanding of raising stop to 3342-7 is as under :

I am looking at 15 min chart, 10=00 and 10=15 were two up bars,then we had 10=30 and 10=45 bars as two corrective bars,then came a breakout 11=00 bar and the low of this bar (3342-7) if cracked will null the up breakout and the mkt will turn bearish.

11=15 bar ,a kind of doing nothing bar but a black candle,still ok,

11=30 bar again a black candle and cause for worry,it gave a black candle on 30 as well,time to bring the stop and reverse to 3342-7

11=45 bar the SAR hit,putting us in short position and the rest is history !!!

Happy for having figured it out, hopefully correctly.

Smart_trade

ST, But we are trading 30 minutes charts!! How do we figure it out on the 30 minutes chart!!!
The main thing to understand is : When and why do we decide to have a Lower time frame ( 15 minutes ) perspective!!!!

My 2 bits and I may be totally wrong : (I am yet to trade this system)

We are long as per our high plus filter.
10.30 bar is the one that triggers the long and is a big white candle, a WRB!
11.00 bar though a white candle and does not breach the high of 10.30 bar but closes above the close of 10.30 bar!!!
I read it as market trying to go up, but not yet bearish!!!
11.30 Bar : A small black candle
Now my reading is market unable to sustain the upward thrust, so I peek at 15 TF.
This what I see on 15 minutes chart at 11.30 : The 10.45 bar low as a minor PL (a minor Pivot, but as we consider all Pivots in this system, its a valid one to consider).
I move my SAR to 3320-7=3313!!!
This according to me is more in tune with the existing rules we are following!!!

 

[vpsarathy]

RKK,

Your argument is stronger that we missed a Pivot which is ' the reason of the decision' in this System. This is easy to follow.

Whatever ST says also seems OK but creates a confusion in my mind whether I should constantly have a peek at 15TF which is against the rules.

vps

 

[Smart_trade]

ST, But we are trading 30 minutes charts!! How do we figure it out on the 30 minutes chart!!!
The main thing to understand is : When and why do we decide to have a Lower time frame ( 15 minutes ) perspective!!!!

My 2 bits and I may be totally wrong : (I am yet to trade this system)

We are long as per our high plus filter.
10.30 bar is the one that triggers the long and is a big white candle, a WRB!
11.00 bar though a white candle and does not breach the high of 10.30 bar but closes above the close of 10.30 bar!!!
I read it as market trying to go up, but not yet bearish!!!
11.30 Bar : A small black candle
Now my reading is market unable to sustain the upward thrust, so I peek at 15 TF.
This what I see on 15 minutes chart at 11.30 : The 10.45 bar low as a minor PL (a minor Pivot, but as we consider all Pivots in this system, its a valid one to consider).
I move my SAR to 3320-7=3313!!!
This according to me is more in tune with the existing rules we are following!!!

I agree RKK that we should have some guidelines when to look at 15 instead of 30 min chart. SAR at 3320-7 =3313 is on 15 min pivot,we did not miss it,in fact some of us including me went short at 3313.But Saint reversed at 3342-7 = 3335 and I found no reason on 30 but possible reason on 15 as mentioned in my post above. On 30 the 11=30 candle is only a black candle,no other indication....The moment mkt is unable to take out the earlier bar's high on 30,do we see 15, not convinced as mkt has many such "doing nothing" candles. We want something more than that... sideways movement or a not very clear type of pivot etc to go and have a look at 15.

When to look at 30 and when to get down on 15 for reversal decision is still gray area in my mind. On behalf of all of us ,I request Saint to write a few words to clear this point.


Smart_trade