Going with the Intraday Mini-Flow!!

[Smart_trade]

Posting Fridays NF 30 min chart with entry ,and add points marked on it.

Best Wishes,

Smart_trade

I have received PMs from few friends who joined this thread late requesting the reasons for taking the trades and the adds we did on Friday. I suggest that they should open their charts and follow the posts in this thread from 10:00 onwards and follow the thought process bar by bar,this will make learning much more effective rather than somebody giving all trades as a guides like we all used for our school/college exams.

I am giving below trades,adds ,and reasons for Friday's trades as under but let us not make this as a everyday routine.

First 5 min bar of the day (9=55 to 10=00 bar) had H=3352, L =3313. The moment this bar was complete,we donot know whether the market is going to breakout on upside or downside so we apply our moving filter to both sides,so we will be long above 3352+14=3366 and go short below 3313-14=3299.

At 10=19 (first 30 min bar) our short entry was triggered at 3299 and we have our initial protective stop at 3352+ 7=3359.

The 10=30 bar closed down,(it was also a Widw Range Bar (WRB)) Now when the low of this bar (3285-5 =3280) gets cracked we have our first add at 3280. Now we bring our SAR to 3329+7=3336 based on 15/20 min pivot.

After 12=00 hourly bar was complete,we moved our SAR to the high of this bar +space or 3308+7=3315,market came dangerously close to this level but not triggred this level.

Our 2nd add came when the NF broke a 30 min PL(3255=40 formed in 12=00 bar) is broken in 1=30 bar so we have a second add at 3255-5=3250

Next place to add was when the low of a WRB formed by 1=30 bar gets cracked so next add was at 3189-5 = 3185. We already had 2 adds so we did not add here but if anyone missed any of the earlier adds,he could have added here.

After 2=30 bar was complete,our SAR was brought down to 3264+7+3271 on 2 bars rule.

After 3=00 bar was complete we brought down SAR at 3203+7=3210 on 2 bars rule.

Regarding profit taking,our initial risk was 3359-3299 =60 points.So we could book 1/3 position profits at 3299-60=3239 level.

Balance portion we could have covered in 3050-3080 range as per our comfort level.


Hope the above clarifies the thought process and the entry,SAR trail,Adds,profit booking etc levels become more meaningful to the newcomers.

Best Wishes, Trade well !!!

Smart_trade

 

[Saint]

I distinctly remember your writing it!!! But as the query cam up again and also because as a contrarian view I felt it can be managed with a little more effort in a single account, hence had posted it!!!

Ah,so I had written it before..............when one answers too many posts in a day,sometimes get parrot like....

Saint

 

[Saint]

Hi MJ,

Though I have more than one trading accounts, I prefer trading 60 min and mini flow positions in the same account .I have been doing that without any problem or confusion. In fact it is better ,many times you dont pay double margins. Let me explain,

Suppose you are 3 nifty contracts long on 60 min flow,and you get a sell signal in mini flow. And as my stoploss is generally close in miniflow suppose I decide to short 5 contracts,I go ahead and sell 5 contracts. Thus my position with my broker becomes +150 -250 =-100 (net) and my margin gets blocked only for 100 nifty. If I trade these positions in two different accounts,then broker A charges me margin for my 150 long nifty and broker B charges me margin for 250 short nifty ,so the total margin which gets blocked is for 150 and 250 equal to 400 nifty.So my 4 time margin gets blocked intraday.In short I get a netting effect for my margins.Even if there are two accounts with same broker,margins do get blocked as shown above.Two a/c ,means no netting.

I have nothing to do with my position with my broker for me my position is as under :

60 min positional trade Mini flow intraday trade

Long 150 (long 3 contracts) Short 250 (short 5 contracts)


So at the end of the day,assuming there is no position change in 60 min trade,I cover my short position in mini flow trade so EOD my posn becomes
+150 -250 + 250 = + 150 and that is my carry home position for 60 min system.

The above is to be done ONLY if you can view these two positions as separate.Initially people may find it difficult and if you have to constantly peep into your net position window for trading comfort,then two separate accounts is recommended.

Hope the above clarifies,

Smart_trade

Good stuff,Smart......

Saint

 

[trillian]

I have received PMs from few friends who joined this thread late requesting the reasons for taking the trades and the adds we did on Friday. I suggest that they should open their charts and follow the posts in this thread from 10:00 onwards and follow the thought process bar by bar,this will make learning much more effective rather than somebody giving all trades as a guides like we all used for our school/college exams.

I am giving below trades,adds ,and reasons for Friday's trades as under but let us not make this as a everyday routine.

First 5 min bar of the day (9=55 to 10=00 bar) had H=3352, L =3313. The moment this bar was complete,we donot know whether the market is going to breakout on upside or downside so we apply our moving filter to both sides,so we will be long above 3352+14=3366 and go short below 3313-14=3299.

At 10=19 (first 30 min bar) our short entry was triggered at 3299 and we have our initial protective stop at 3252+ 7=3259.

The 10=30 bar closed down,(it was also a Widw Range Bar (WRB)) Now when the low of this bar (3285-5 =3280) gets cracked we have our first add at 3280. Now we bring our SAR to 3329+7=3336 based on 15/20 min pivot.

After 12=00 hourly bar was complete,we moved our SAR to the high of this bar +space or 3308+7=3315,market came dangerously close to this level but not triggred this level.

Our 2nd add came when the NF broke a 30 min PL(3255=40 formed in 12=00 bar) is broken in 1=30 bar so we have a second add at 3255-5=3250

Next place to add was when the low of a WRB formed by 1=30 bar gets cracked so next add was at 3189-5 = 3185. We already had 2 adds so we did not add here but if anyone missed any of the earlier adds,he could have added here.

After 2=30 bar was complete,our SAR was brought down to 3264+7+3271 on 2 bars rule.

After 3=00 bar was complete we brought down SAR at 3203+7=3210 on 2 bars rule.

Regarding profit taking,our initial risk was 3359-3299 =60 points.So we could book 1/3 position profits at 3299-60=3239 level.

Balance portion we could have covered in 3050-3080 range as per our comfort level.


Hope the above clarifies the thought process and the entry,SAR trail,Adds,profit booking etc levels become more meaningful to the newcomers.

Best Wishes, Trade well !!!

Smart_trade

Hi ST,

Well done by explaining the total lesson of Saint's Intraday miniflow with chart. And ur chart posting after trade help me to learn and able to correct the mistakes of this mini flow. Thanks.
Gr8, keep going.

Note:

At 10=19 (first 30 min bar) our short entry was triggered at 3299 and we have our initial protective stop at 3252+ 7=3259.

Here I think SL is typo error. It should be 3359 i.e first 5 min high 3352 +7. correct me if I am wrong.

Regards.

 

[Smart_trade]

Hi ST,

Well done by explaining the total lesson of Saint's Intraday miniflow with chart. And ur chart posting after trade help me to learn and able to correct the mistakes of this mini flow. Thanks.
Gr8, keep going.

Note:
Here I think SL is typo error. It should be 3359 i.e first 5 min high 3352 +7. correct me if I am wrong.

Regards.

Yes trillian,it is a typo, ouch... eaten away 100 points,now edited.

Thnks trillion,like your keen observation !!!

Best Wishes,

ST

 

[musicjunkie]

Although far from it but im very curious to know something.
How does one handle slippage? how much space do you give in your SL orders

Market limit orders can be a little risky, IMO,
Saint (all all seniors), if you are long in a contract and you get partially filled on a reverse order what do you do?

Just out of the box random questions....

Regards,
MJ-

 

[ARMHM]

Although far from it but im very curious to know something.
How does one handle slippage? how much space do you give in your SL orders

Market limit orders can be a little risky, IMO,
Saint (all all seniors), if you are long in a contract and you get partially filled on a reverse order what do you do?

Just out of the box random questions....

Regards,
MJ-

Only if there is euphoria or panic, I keep a difference of 10 points just to make sure that order gets filled. Normally I put 2 point diifference from SL.

 

[orderflow13]

its very simple.. if order is stop buy order. then type your desired trigger figure in trigger column, and kept second column blank !!

 

[praveen taneja]

its very simple.. if order is stop buy order. then type your desired trigger figure in trigger column, and kept second column blank !!

Alex gm,can i set band in my charts of odin of reliagre

 

[orderflow13]

5 min bar l 3115 h 3150