Going with the Intraday Mini-Flow!!

[rkkarnani]

If you look at the chart, the low of the 1st 5 min bar is 4170. So, as we are trading as per the charts, the Stop Loss should too be as per the low of the charts.

Okay, my chart shows 4152.25, PIB has the same low!!!

 

[Saint]

Now What ? where is the stop ?

Stops where they were.........if we get a huge vertical move up,then only consider moving stops upwards.

In a way,not giving the mind any peace......it always felt good to trail stop upwards........but trying this out for a change.Paper Trade it for a few weeks.I am in with Real..........

If that vertical move does not come,put it all on the table and stand the risk of getting stopped.......I know that capital protection is important,therefore the stop loss.But an important fact also is that we need to make huge gains as compared to losses,and more gains than losses to come out on top.A strategy that stops you out every now and then will in the long run prove detrimental ............anyway,still in experimental stages.

Putting more Offence than Defence into the Strategy.......going by the old adage:Offence is the best form of Defence.

Also,want to see how the mind reacts ............

Saint

 

[rkkarnani]

4152 is nt d accurate......it is showing this but its wrong............GO WITH THE EYE......the 1st trade actually happ at 4170

Hi Neeraj, Cud not understand, "GO WITH THE EYE"!!!! My chart shows 5125.25 as low, PIB has the same low!!! So where does "EYE" come into picture...please elaborate!!! You accept that its showing 4152, but isnt accurate!!! This is a recurring problem how to overcome any suggestions!!!
However now that level is redundant as new SL is in place, below the 11 AM low!!!

 

[rkkarnani]

Saint, Is it an ADD above 4241!!????

 

[Saint]

Dear Saint
Do we reverse at SL or we wait for any other reversal signal

Most times the trade will move in the direction of the 5min crack......then the question does not arise.

When the trade moves in the direction of the crack,gives us a reversal signal,we are changing direction at that signal......so again,reversing at SL does not arise.

When the trade takes out our entry barely and then proceeds to take the stop loss we have set for ourselves,.....yes,REVERSE!

LV,some great questions.....Thanks and keep em coming.

Saint

 

[kapil123]

Saint,

Will the original SL work as a reversal point too? If yes, what would be the new SL?

Edit :Thanks Saint, already answered

 

[rkkarnani]

Stops where they were.........if we get a huge vertical move up,then only consider moving stops upwards.

In a way,not giving the mind any peace......it always felt good to trail stop upwards........but trying this out for a change.Paper Trade it for a few weeks.I am in with Real..........

If that vertical move does not come,put it all on the table and stand the risk of getting stopped.......I know that capital protection is important,therefore the stop loss.But an important fact also is that we need to make huge gains as compared to losses,and more gains than losses to come out on top.A strategy that stops you out every now and then will in the long run prove detrimental ............anyway,still in experimental stages.

Putting more Offence than Defence into the Strategy.......going by the old adage:Offence is the best form of Defence.

Also,want to see how the mind reacts ............

Saint

Can we try out : To put SL below the 11 AM low once the 12 Noon bar crosses the 11 AM high+ a predecided room???!!!!

 

[ThE HaMmEr]

hi neeraj, cud not understand, "go with the eye"!!!! My chart shows 5125.25 as low, pib has the same low!!! So where does "eye" come into picture...please elaborate!!! You accept that its showing 4152, but isnt accurate!!! This is a recurring problem how to overcome any suggestions!!!
However now that level is redundant as new sl is in place, below the 11 am low!!!

buddy i am having odin diet.....i donn have d charts fr now.......i saw d 1st trade happen at 4170......

Sumtimes the systems and charts give d false values.........

 

[Saint]

Saint, Is it an ADD above 4241!!????

Not adding,RK........unless we get a pivot or wrb's.If we do,the add is not like as posted in the reply to LVG yesterday.The adds are usually half the size or a bit more than the size of the initial position.

Saint

 

[VJAY]

Stops where they were.........if we get a huge vertical move up,then only consider moving stops upwards.

In a way,not giving the mind any peace......it always felt good to trail stop upwards........but trying this out for a change.Paper Trade it for a few weeks.I am in with Real..........

If that vertical move does not come,put it all on the table and stand the risk of getting stopped.......I know that capital protection is important,therefore the stop loss.But an important fact also is that we need to make huge gains as compared to losses,and more gains than losses to come out on top.A strategy that stops you out every now and then will in the long run prove detrimental ............anyway,still in experimental stages.

Putting more Offence than Defence into the Strategy.......going by the old adage:Offence is the best form of Defence.

Also,want to see how the mind reacts ............

Saint

Sir,
So our stoploss is now there where we first put it(5 min bar low-9).
Is it correct?

Regards
VJAY