Going with the Intraday Mini-Flow!!

[rkkarnani]

Thanks RK. But can you tell me where Saint has said this. We only wait for 4 bars to complete then as soon as 5th bar takes out the lows of 4th we change because the 5th bar can reverse and go on to take out the highs of 3rd and 2nd bar even and so on. This is generally seen in case of steep downtrend as in 4 bar down turns and then quick recovery. This is the essence of this strategy - to protect the profits of this windfall move as soon as possible -- the wait is only till 4 bars.
Bee

Hi Bee,
Thanks for pointing it out, chachi has posted the Saints message below which I had construed wrongly!!! I stand correectd!!!! Thanks again!!

I have edited my post lest it misguides others!!! (Actually I meant to say to wait for 4th Bar to complete!!!)

 

[VJAY]

Thanks RK. But can you tell me where Saint has said this. We only wait for 4 bars to complete then as soon as 5th bar takes out the lows of 4th we change because the 5th bar can reverse and go on to take out the highs of 3rd and 2nd bar even and so on. This is generally seen in case of steep downtrend as in 4 bar down turns and then quick recovery. This is the essence of this strategy - to protect the profits of this windfall move as soon as possible -- the wait is only till 4 bars.
Bee

Dear RK ,
Some I have some confussions from reading your this post.I actually cleared by saint sir regarding this.But your post make some confussion.so please look the reply by Saint sir .

Another Q is that if we are bringing down the SL once 5th bar makes LL irrespective whether it makes LH or HH then why wait for the bar to be complete ? Our SL anyway is going to be shifted to H of 3rd bar +space irrespective of outcome of this bar ? So why not move to 3rd bar H+ space the moment 5 th bar makes a LL ?

These were the real Q I was facing while trading yesterday.So the clarification will help me to tackle these situations next time around.

Thanks for your patient answering !!!


Smart_trade
Yes,ST........wait for the first 4 bars to form,stop loss at where it was above the high of the 1st bar.After the completion of 4th bar LH-LL,move the stop to high of 2nd bar+room.Once 5th bar makes a LL,already you are moving stops to the high of the 3rd bar.If no LL,then stops remainabove the high of the 2nd bar.

Thanks & Regards
VJAY

 

[rkkarnani]

Dear RK ,
Some I have some confussions from reading your this post.I actually cleared by saint sir regarding this.But your post make some confussion.so please look the reply by Saint sir .

Another Q is that if we are bringing down the SL once 5th bar makes LL irrespective whether it makes LH or HH then why wait for the bar to be complete ? Our SL anyway is going to be shifted to H of 3rd bar +space irrespective of outcome of this bar ? So why not move to 3rd bar H+ space the moment 5 th bar makes a LL ?

These were the real Q I was facing while trading yesterday.So the clarification will help me to tackle these situations next time around.

Thanks for your patient answering !!!


Smart_trade
Yes,ST........wait for the first 4 bars to form,stop loss at where it was above the high of the 1st bar.After the completion of 4th bar LH-LL,move the stop to high of 2nd bar+room.Once 5th bar makes a LL,already you are moving stops to the high of the 3rd bar.If no LL,then stops remainabove the high of the 2nd bar.

Thanks & Regards
VJAY

VJAY,
I was posting my last message while you were posting this!!! Had realised my error!!!
Also edited my misleading Post!!!

 

[rajfal]

I feel too much tweaking would spoil the system.

We have had several good trades since last many days but , yesterday and day before were a sideways days and lets accept it and move on......

I feel, our desire to lock in smaller profits would eventually rob us of good profits on a good trending day.

Just my humble 2 cents....

Regards,

Raaj

 

[pakatil]

yesterday and day before were a sideways days

Raaj

I am floored.

 

[vpsarathy]

Yesterday's was not an example of sideways move it was one of dreaded multiple V moves, which just screws everyone out of shape, except those like Saint who are well equipped with very quick reflexes to handle them deftly.
vps

 

[rajfal]

I am floored.

Please try to look at my comments with respect to the range of the first 5 minute bar.....

Since our system is dependent on that bar, I commented the same and not how it closed with respect to the previous day's close....

For us, the trending day is when we move considerably above or below the first range bar....Hope I am clear

 

[chachi]

I am floored.

Dear Pakatil,

Rajfal is correct. Just look at intraday wise..........

Regards
Chachi

 

[ARMHM]

Yesterday's was not an example of sideways move it was one of dreaded multiple V moves, which just screws everyone out of shape, except those like Saint who are well equipped with very quick reflexes to handle them deftly.
vps

You are right. Just look at 15, 20 and 30 min charts.

 

[beethoven]

Doubts, discussions, tweaks etc are process of natural evolution of this system (or any system for that matter). We are lucky to be able to participate in this thread early to see all evolutionary steps and have a deep insight into price movement (yesterday Saint has politely refused to delete the earlier part of this thread rightly). We have all studied books but the real grasp of the things will only come thru facing actual situations. We are lucky to have Saint to guide us thru all the situations and tell us what to do - we are basically feeding on his experience, otherwise on our own we would not be able to really decipher the moves and devise ways to get out of problematic situations. This would require tremendous experience and also a level of IQ which at least I do not have. So Saint has been great enough to share his experience based knowledge and insight and has prevented us from re-inventing the wheel which ordinary mortal like me would not have been able to invent in any case -- not that I have not tried to struggle with all the bookish knowledge available by American authors and tried to adapt to Indian market. Many may have done it successfully but that would need a lifetime of time and money. Guys as we go along we would realise the true implications of what Saint is teaching us.

So carry on the discussions and tweaks. Lets see how we evolve.

Cheers

Bee