Going with the Intraday Mini-Flow!!

[TFL]

Thanks for the kind words and the interest shown,Hari

1) The breakout point is the intersection of trendline and the breakout bar.

2) Breakout is said to have occured when the price goes above the downsloping trendline,you need not wait for the closing.

If the closing price gets below the trendline,then the breakout is said to have failed. There are qualifiers to find out whether the breakout will fail or succeed,and this was a successful breakout.

I am not saying that Saint Sir is booking his profits on this technique. This is purely my experiment.

It will not be proper to discuss this technique further in this thread. We may have it in some other thread, some other time.

Best wishes,

Smart_trade

Smart_trade,

Thank you for your reply. I was coming to the real question...That is,

If the chart was like below how will be the said calculation done? Which point of price your will take as break out.

Thank you,
Hari.

 

[Sunil]

I see what Hari is trying to indicate here...
actually smart_trade, if u observe the BO of this TL in 1min or 5min chart, u would notice that, as hair is trying to point out, the next bar OPENED ABOVE THE BO LEVEL OF THE LEVEL ie at 2912.
So, logically, the BO had happened the minute the new bar (1pm bar) started forming...
it's just that after opening above the TL, it went down a bit (as apparent in 1/5min chart), and so, it seems that TL broke there....
if it would not have gone down, and continued going up, then the next chart (as posted by hari) would have formed....

That was just a practical question asked by Hari - and just to answer this, on behalf of our LineBaba, that qualifies as a BO...
Good observation, Hari...

This topic was not fully out of context of this thread, but good observations by both ST and Hari... but, nevertheless, others got to see a new side to profit-booking possible level.

(BTW ST, this TL was actually a part of a triangle being formed (discussions abt this was going on in Asish Da's thread), but it had given a false BO on downside)

 

[ratan jain]

Hi Guys!

I have just given up on a system that I was working on and DAMN! I missed out maybe 3 weeks of profits if I had traded our miniflow system. Now am back to my senses, having lost a lot of money, time and face....
I would sincerely like to use this method from tomorrow, and so have a few truckfulls of questions.

All questions are related to Nifty Futures as the traded instrument.

I hope all can pitch in with answers, would really appreciate it.

Get ready... lots of questions

1. When we have the first trade, off the first bar which is the 10:00 am bar, the stop is quite wide. How many times on average, does the stop get hit WITHOUT being brought down a bit, say on pivot formation on 15 or 20 min time frame.

2. Any idea what the average stops have been especially in the second trade onwards?

3. Has anyone compiled a list of the trades taken according to the system, so that I could get a view of what the actual points earned for the day have been?

4. Now, I am ready to be blasted for this question ...... What have been the runs of losses max, before a profit.....
The reason for this question is that am considering some creative ( read CRAZY ) money management, which needs to know the average number of losses and their average in points before a profit arrives.

Now I know, that if I had followed the thread, I mean REALLY followed it, I would have all the answers, but friends, help out this trader friend of yours.

Thanks....

 

[jace48]

Hi Guys! Back again with some questions... Ihope all can pitch in with answers, would really appreciate it.

Get ready... lota questions

1. When we have the first trade, off the first bar which is the 10:00 am bar, the stop is quite wide. How many times on average, does the stop get hit WITHOUT being brought down a bit, say on pivot formation on 15 or 20 min time frame.

IMHO it depends upon the instrument. No one size fits all . Is your Q specific to Nifty futures?

 

[ratan jain]

IMHO it depends upon the instrument. No one size fits all . Is your Q specific to Nifty futures?

Yes, and am editing my post also to reflect the same.

 

[jace48]

I have just given up on a system that I was working on and DAMN! I missed out maybe 3 weeks of profits if I had traded our miniflow system. Now am back to my senses, having lost a lot of money, time and face....
I would sincerely like to use this method from tomorrow, and so have a few truckfulls of questions.

ratan_jain,

I think it's more practical to use cash market for day trading that futures for reason because
1) Futures mirror cash market. If futures starts having mind of it's own stops *may*be frequent
2) It's cheaper
3) Lots size can be customized according to money in account.

In any case the methodology is more important and trust me most of the time decision making becomes difficult and is subjective. e.g Friday many people went long LOD+room where as most people went long at crack of some 30 min bar + room

The reason for this question is that am considering some creative ( read CRAZY ) money management, which needs to know the average number of losses and their average in points before a profit arrives.

I am also burning midnight oil for same but since I am in cash market most of my data is simulated rather than real.

BTW data set provided by members for win/loss ratio etal would not serve any help and you might take wrong decision because MM system *assume* that decision making criteria is same all the time. So do your own home work

Thanks...!

 

[ratan jain]

ratan_jain,

I think it's more practical to use cash market for day trading that futures for reason because
1) Futures mirror cash market. If futures starts having mind of it's own stops *may*be frequent
2) It's cheaper
3) Lots size can be customized according to money in account.

In any case the methodology is more important and trust me most of the time decision making becomes difficult and is subjective. e.g Friday many people went long LOD+room where as most people went long at crack of some 30 min bar + room




I am also burning midnight oil for same but since I am in cash market most of my data is simulated rather than real.

BTW data set provided by members for win/loss ratio etal would not serve any help and you might take wrong decision because MM system *assume* that decision making criteria is same all the time. So do your own home work

Thanks...!

Thanks dear, will look into stocks also... though I would prefer Nifty Futures.
And u r absolutely right on the dilemma in taking decisions during trading hours..... but at least this system does not generate too many trades.....

 

[mukulntpc]

Thanks dear, will look into stocks also... though I would prefer Nifty Futures.
And u r absolutely right on the dilemma in taking decisions during trading hours..... but at least this system does not generate too many trades.....

after reading so much in this thread, i got one result that all charts/ breakout/ downfall is only came to know after trading hours, why not we perdict that the market we go up/ down or remain range-bound.since market has his own rule. we just try to catch
untill we are not getting a fool-proof rule
why ???????
may be fear of losing money,when we get a indication of break-out, we sit sideline to see whether our prediction is right or wrong.

 

[ratan jain]

Hi Guys!

I have just given up on a system that I was working on and DAMN! I missed out maybe 3 weeks of profits if I had traded our miniflow system. Now am back to my senses, having lost a lot of money, time and face....
I would sincerely like to use this method from tomorrow, and so have a few truckfulls of questions.

All questions are related to Nifty Futures as the traded instrument.

I hope all can pitch in with answers, would really appreciate it.

Get ready... lots of questions

1. When we have the first trade, off the first bar which is the 10:00 am bar, the stop is quite wide. How many times on average, does the stop get hit WITHOUT being brought down a bit, say on pivot formation on 15 or 20 min time frame.

2. Any idea what the average stops have been especially in the second trade onwards?

3. Has anyone compiled a list of the trades taken according to the system, so that I could get a view of what the actual points earned for the day have been?

4. Now, I am ready to be blasted for this question ...... What have been the runs of losses max, before a profit.....
The reason for this question is that am considering some creative ( read CRAZY ) money management, which needs to know the average number of losses and their average in points before a profit arrives.

Now I know, that if I had followed the thread, I mean REALLY followed it, I would have all the answers, but friends, help out this trader friend of yours.

Thanks....
PS... repeated this post as the earlier post was made very late into the night and therer was the chance that many of you would not have read it. Sorry for duplication.

 

[Smart_trade]

Smart_trade,

Thank you for your reply. I was coming to the real question...That is,

If the chart was like below how will be the said calculation done? Which point of price your will take as break out.

Thank you,
Hari.

Hari and Sunil,

Breakout point is the value of the trendline in the breakout bar.So in example shown by you,the breakout has come the moment the breakout bar opened.So irrespective whether the price actually came down and touched trendline or not,it is the intersection of verticle line from breakout bar ( extended down in case the price does not touch the trendline.) and the trendline. So in other words calculation to be done from 2902 and not 2912 as shown in your chart. By virtue of gap opening above trendline,the breakout was a valid breakout.

Hope the above clarifies,

Best Wishes,

Smart_trade

Sunil,

You can also targer by largest part of the triangle added to breakout point.

ST