Going with the Intraday Mini-Flow!!

[yashodhan]

Dear Saint,

Thank You for giving such simple, straight forward Strategy. Crowning Glory is your lucid style. It leaves no opprutunity for confusion.

Pls permit me differ from one of your Advices. ( in lighter vein )

You have asked for total dedication during hours. All I have to do at the start, is to place two orders. Obviously one will get triggered and other will act as SL. Convert SL into SAR. Now it is only matter of creating one fresh SAR when the current SAR is hit, OR keep on modifying current SAR every one hour. And at the end of the day close the positions. So much of free time.

Like the Ad, Fill it, Shut it & Forget it (Hero Honda Ad of yester years).

Thanks Again Saint.

Cheers

Dear Pakatil,

I share your feelings and really, hats off to the Maestro.

Saint,

I get a feeling that this startegy will work better for individual stocks. Tried it by any chance?

Yash

 

[jace48]

Saint,

Just an thought..
Why not take knowledge of opening bell clubbed with PH/PL to intraday trades?

The PH/PL method looks better

 

[Saint]

Saint,

Just an thought..
Why not take knowledge of opening bell clubbed with PH/PL to intraday trades?

The PH/PL method looks better

Works sometimes on good days,on other days,it will take more money out of your pockets as compared to the losses in the 60.

The 5 does its thing while the 60 gets ready to fire.......so you have pivot breaks to the up and then down and once you are totally frustrated ,it will make its move(as the 60 has started its blast off).Trading Pivots on the 5 following a larger chart perspective is fine.......but just trading pivot highs and lows on the 5 can be severely injurious to health and account.

So careful......

If you mean trading the pivots on the 60.....not possible.There are only 7 bars in a day to trade from.....therefore bar to bar,not pivots.

Saint

 

[Saint]

Saint, If time permits, please post the trades for first 5/6 days of trades in any months begining!!! May be September.... there are all kinds of trades in the first 5/6 trading sessions of Sep. derivatives!!!!

Gap days are the sweetest to trade......but those few were tough.Was very difficult in the 60min Flow as well.

Saint

 

[alokdaga]

Works sometimes on good days,on other days,it will take more money out of your pockets as compared to the losses in the 60.

The 5 does its thing while the 60 gets ready to fire.......so you have pivot breaks to the up and then down and once you are totally frustrated ,it will make its move(as the 60 has started its blast off).Trading Pivots on the 5 following a larger chart perspective is fine.......but just trading pivot highs and lows on the 5 can be severely injurious to health and account.

So careful......

If you mean trading the pivots on the 60.....not possible.There are only 7 bars in a day to trade from.....therefore bar to bar,not pivots.

Saint

Din ka aisa koi samay hai Saint Sir when you are not available to answer our doubts !!!!!

 

[Saint]

THE METHOD:

As always,a Method......hoping to let Art remain Art still.......

AIM:The aim is to trade everyday,and if all goes well,to trade between 10am and 3:25 pm............to trigger without thinking if triggers are hit,trail stop without thinking because that is our Plan,to exit without thinking if stops hit.

PERSPECTIVE:None........no analysis about multiple time frames,and if that is up,then we are up.Once again,reiterating:Trading in line with perspective is not wrong at all...Trading the 5 looking at the direction of the 60 is a great way to trade.....This one is just another way!

TIME FRAME OF TRADE:The 60min chart.... ..... Lol,right about now,a few people are hurling abuses at me!60min charts and Intraday,Saint are you mad??!Probably......but am not interested in smaller time frame trading,and pulling out Rs30here and there and losing Rs50 here and there and landing up the end of the month with Rs10k and feel that one has done something great.Not interested in smaller time frames because it just is not as beautiful flowing as the 60min charts......So,60min charts,it is!

INDICATORS USED:If Volume is considered an indicator,well,I have a look at Volume,.....although I doubt if any major decisions would be taken by me based on the Vols alone.

CHARTS:Candlestick charts.......just because it gives me better visuals,and a particular pattern that crops up on the 60 helps with the Reversal days.

ENTRY:Allow the 5min bar,the first of the day to form......go long if the high + filter is taken out.Go short if the 5min bar low is taken out.Again with a filter.

STOP LOSS:Same as filter.....I put Rs 9,not too much concerned about the distance,the Rs9 has saved me from many a bad trade,so sticking to it.......what is best suited to you,after testing,do that.Basically short the first bar with a stop loss at the bar's high +Rs9 if the first bar breaks to the down.Buy the first bar high with a stop loss at the low of the bar -Rs9.

TRAIL STOP:Let us take the trade as long so that I don't have to repeat the same thing twice.......basically vice versa for shorts.......The second bar of the day(60min bar) puts in a Hgher high and higher low(hope you get it,not higher pivot high and low......just higher high and low.Now the third bar puts in a higher high and low.Move stops to the low of the 2nd bar's low -9.Once the 4th bar makes higher high and low,move stops to the low of 3rd bar-Rs9......In essence,at the start of the next bar(not completion),move stops to the low of the previous bar.

Note:In an uptrend,the lows are being carefully monitored.......in a downtrend,it is the highs that are carefully monitored.In this method,we do not care about uptrend and downtrend.........we care only about rally and decline.But the rules are the same.......RALLY:Monitor LOWS.DECLINE:Monitor HIGHS.

STOP AND REVERSE:We are looking to stop and reverse in most cases except a few........and the exceptions will be added here later.

ADDS:No adds except in a clear trend move........we have a rally in an uptrend on the 60,just formed a wrb,or we get a pivot on the 60min,and the Pivot Highs are taken out,we are doubly sure about the trade.....yes,we are looking to add.Most often than not,we are looking to stay put with our initial posns.Unlike the 60min Flow,only one ADD after initial position,and then it's all trail stop.

PROFITS:If long 6 lots,with a stop loss Rs50 away,once we get a Rs50move,will take off 2 lots ....unless we get a blast off move.Then I am sitting pretty with 10lots till the end of day.

At the end of day,there is pulling out of positions .......basically because want to be out of all before close.So no real rationale as to why there,and not Rs2 ago.

EXITS:Exits are on hitting Trail stops,......at the End of Day.......or taking profits off the table on a weak move up within a dntrend and reversing once the down move starts.

TRENDS:There are days where there is a one directional move........we do nothing and keep moving our trail stops down.Then there are days that give us a 2 directional move,we enter the trade as planned,our trail stops are hit,and we reverse.Then there are days where there is a 3-directional move.....will be frustrating,we get in in all three,and probably end the day with losses,but stick to the Plan......there really is not clear knowing what type of move that can happen that day.So take 'em all.......

POSITION SIZING:Take the total amount of capital.......risking 1.25%-1.5% per trade.Enter with that many contracts as is calculated....I tend to take 3 positions simultaneously,but risk on capital not more than 4%.Trade lesser contracts if must,and cannot manage the heat.



Last word of advice:If you notice,we are not trading lower time frames,and so don't panic on a rally on the 5 and you are holding shorts......stick to the Plan.And another thing:We are not trading Pivots here.........we are trading it Bar-to-Bar.Of course,a 60min Pivot break only adds weight.And a 60min entry means we enter later,make less money in that trade as compared to the guy who spotted that move on the 10min charts.But we also tend to lose less as compared to the 10min trader.........more of,Slowly but Surely.

More later.......need to get a bite!

Saint

Editted the post above........

Changes:

a.Removing the 30min timeframe from this strategy.
b.Added that our decison making process about trail stops is at the start of the next bar,and not at its end.
c.Pivot Highs/Lows are rare on the 60min charts,........but if we get that,we are doubly bullish or bearish ......we look to add above/below that pivot if we do get one.


Saint

 

[jace48]

If you mean trading the pivots on the 60.....not possible.There are only 7 bars in a day to trade from.....therefore bar to bar,not pivots.

Saint

Bit consused. In this thread are using 60 mins bar or lesser time frame?
If we are using 60 mins bar then my post is irrelevant

Thanks

 

[Smart_trade]

Bit consused. In this thread are using 60 mins bar or lesser time frame?
If we are using 60 mins bar then my post is irrelevant

Thanks

Initial entry on 5 min bar.Further stop and reverse on high/low of earlier 60 min bars (not the pivots on 60 )

Best Wishes,

Smart_trade

 

[jace48]

Initial entry on 5 min bar.Further stop and reverse on high/low of earlier 60 min bars (not the pivots on 60 )

Thanks.. that maks my original question irrelevant

 

[segul]

Hi Saint,

Thanks for giving us this simple and effective strategy!.

Saw u trade all these days and you have shown how effective we can be by keeping things very simple.
Especially the trades on 17/9 was very interesting.
The first trade u took was a loss and i thought that the day would end up in a loss but after that u took some small trades and position sized the lot size accordingly and u took the loss day into,if not a positive, almost a breakeven point.That was really a great risk management!
Just by increasing and decreasing the lot size and booking profits early made this possible.
Can this be done most of the time on the loss days?
Are there any specific rules we can follow to position size under such situations or does it come by experience and application of discretion at that point?
Please share it with us,it will be really helpful.

Regards,

Aditya.