Going with the Intraday Mini-Flow!!

[Sunil]

Tsunil,
I am very new to this I could not find any chart for minifty or is there any other name for this. Sorry to ask lot of questions.

Rajendrani

full name is Mini Nifty; NSE code= MiNifty...

where r u looking for the chart, by the way???
u have some charting software, or u access them through your broker-provided trading terminal...?

-Sunil

 

[beethoven]

Nifty spot up by almost 186 today and Dow up now by 577 points. Hope we now have an upswing????
Bee

 

[Saint]

Saint,
A great initiative indeed...there cant be a better way to learn than this day-by-day analysis.

Most of the trades posted by you are well understood now. However, I have a doubt regarding the Short trade taken on the 3rd Jan.

Are we considering 6191 a pivot (on 3rd jan) because of the long tails on the 30 mins chart? Because if we leave apart the tails, we have almost similar chart on the 7th Jan as well. But there we dont look in the 15 min tf because the 30 min is relatively smoother.

Or is there any other logic that I am unable to comprehend??

Kindly do let me know in your time.

Thanks,
Rakesh

Yes Rakesh....smoothness and the 60min charts.

Saint

 

[ratan jain]

A Simple question?

How many of us are sleepless with excitement, waiting for the markets to open, and how many of us here are terrified that its 9:56... that time of the day again

Sincere responses would be appreciated

 

[rishig38]

A Simple question?

How many of us are sleepless with excitement, waiting for the markets to open, and how many of us here are terrified that its 9:56... that time of the day again

Sincere responses would be appreciated

I am sleepless with excitement..but doing a lot of reading..trying to learn and soak as much as I can...dow up 750 points...I know I will be a winner either way..following both the 60min flow and the mini flow...thanks once again....

 

[Saint]

MJ,
let's say this is an exchange program between students of Asish Da & Saint Sir


Aap kuch humein sikhaao,
Aapse kuch hum sikhein

But yes, I must put the onus on YOU totally - - after seeing your attempt for bringing this flow concept for intraday trading in your thread (5min), a thought must have surely crossed Saint Sir's mind to devise such a system for intraday trading... just TF has been changed as per his extensive R&D

Actually,Sunil,have been doing this for some time........from Asish's thread days when I used to post there.Was fine tuning it over time.Very reluctant to bring it out into the open for fear that many might not be able to grasp looking at and amalgamating multiple time frames in one go....Judging from the way everyone understands,I feel proud to say that I was wrong.

At the start of this thread,tried to simplify a little too much,and realised oversimplification has its problems.....it was inadequate to meet all sorts of situations.Around Page 76,I think,.......came to the conclusion that keeping things simple is key,but not oversimplifying something and reduce the success rate of this method.Took an about turn and came back to the way I do things,..........petrified though that misunderstandings will rule the day and numerous questions not pertaining to the topic will kill the thread.....as said before,pleasantly surprised.

To MJ though goes the full compliment of drawing me out by his dogged persistence........He just wouldn't let up!Most of the credit for the birth of this thread goes to him.

All the best!
Saint

 

[Saint]

Goodness me !! what a keen observation , really awesome , Now i am also looking forward for saints answer on above chart, hope we will learn something new from the Master.

Rakesh/Alex,

Basically I want all timeframes to meet up to a point.........there are pivot breaks on the 15 on both days.There is no pivot break on the 20 on 7th,30min charts are bullish,60min charts are bullish.........On the 3rd,all timeframes come to a meeting point of 6191.Nothing of the sort on the 7th.Larger time frames not agreeing with the smaller ones.

I would not take that 15min pivot break........but even if had reacted to that pivot,and that bottoming tail is formed on the 15,confirming to me a failed breakdown in an otherwise bullish larger timeframe........would revert and get back long.

Saint

ps:I tend to look at the 20min charts,the 15 came in only because many here had said that they do not have the 20min charts.

 

[Saint]

but then, one should not be upset, if, after booking partly at 50pts, it goes further and gains total 100 points....
for intraday trading, i have realised that u should have a cool mind, and mind is cool only if your stomach is full (with some partly booked profits)....
Try to be content, cool & above all, be with the SYSTEM FLOW... your mind & stomach should not act as dams for this "flow"

Some great stuff from you,my friend....

For everyone,
It is very important in intraday trading to pull profits off the table........now please don't read that as:Buy NF at 3542,and take profits off at 3552.Our job is to cut our losses and let the profits ride........so don't cut short your profits with a 10pt gain and be thrilled with this great achievement of yours.And yet,in intraday trading we are faced with exitting positions at the EOD,.......therefore Idealism is the order of the day in the 60min Flow.Here it is Realism.Putting some in your pocket acts as a valve to release pressure......and if you are that sort that feels no pressure although holding 30 lots,great going,still put some in your pocket.

Profit taking must have a Plan as well.........probably,you pull profits off at resistance points on the 60min charts.......probably you pull profits off when you have increasing prices on decreasing volumes........probably you pull profits off at exact numbers,like 50 or 100 pts from your point of entry.......where and how you pull profits is dependant on your mental personality,your capital,your stomach,etc,so will not put hard and fast rules to it as we are all different.

But still,evolve a Plan that suits your temperament on where to pull profits off,how much to pull off,etc...........remember,no thinking during trading hours.You do not act,you react..........so plan you trade as always,and trade the plan.

Saint

 

[Saint]

Well I have traded 12 days using this technique and I had made profit all the 12 days, its a fool proof method, cant go wrong with this one if followed properly. So I am confident that I will definately go with big profit and the end of the month.

Nothing is fool proof,my friend.........forget about all the big profits.Focus instead on putting in good trades.

Saint

 

[Saint]

JAN 2008(CONT.)

JAN 11th :Long at 6195,stopped at 6144......-12750,Short at 6144,covered at 6200......-8400(took only 150 d/t dist from sl),Long at 6200,closed at 6222.......+5500.
Loss for the day=-15.65k
Capital for tomorrow=10.7

JAN 14th :Short at 6191,covered at 6214(look at 60min chart),...-5750
Long at 6214,closed at 6226.....+3000;Loss for the day:-2750,Capital for tomorrow=10.672

JAN 15th :Short at 6187,Add at 6149 in BAR 3,Add at 6122 on a new low after pivot on 30.....Closed at 6061.....+47750;Profit for the day=+47750,Capital for tomorrow=11.15

JAN 16th :Short at 5956,Add at 5922,......covered at 5919.....+9700Long at 5919,closed at 5949.....+7500;Profits=+17.2k,Capital for the next day=11.322

Reason for reverting at 5912+7=a.WRB on higher vols on the 15min charts.After 7 candles down on a trot,on the 30,now it takes out the previous candle high of 5901,with volume.



Tired.......only 4 days for today....More tomorrow!

Saint