Going with the Intraday Mini-Flow!!

[beethoven]

Sunil,

Excellent post with charts. I think your dependence on 15 min chart is on the higher side.

The first reversal was not much of an issue.

But the second reversal was. The SAR was at hi+room of bar 4 on 30TF. Then bar 6 and 7 on 30tf put us on guard. After top of bar 7 was taken out then, I moved my SAR to bar 5 hi+room as I thought the reversal will be complete if SAR is hit. As Bar 5 on 30 TF is also a WRB of sorts. I was ok and the 4 bar upswing was going on then bar 9 hit a high note but fell drastically which was tragic for me. Subsequently bar 10 and 11 fell and took out my SAR.

Now the question is was shifting the SAR from BAR 4 hi to Bar 5 hi+room a mistake, when we have to be on our toes to see potential reversal points.

Nothing was done in a hurry - all was decided in a deliberate manner.

In today's trades this was the crucial point. Those who shifted this sar ended up playing four games.

Was my reading faulty. Would really appreciate comments.

Bee

 

[RakeshG]

Sunil
Once again wonderful explaination and am sure you must have spent hours making this for us..Thanks a ton.

Things do look neat once we read your post but its really a heavy dose ..seems yet to learn this method... Everyday reads the rules but again something new comes up which I am not aware of...

Thanks for all your help always!

 

[TFL]

if 16 members volunteer, then, each one with a target of 50 pages each, all 800 pages of this thread can be scanned by this weekend...

each of the volunteer will have to scan his/her allotted 50 pages of the thread, pick up good Q&A posts, extra-ordinary situations, good explanatory charts & graphs, etc & just put up all such posts in the library thread (not just links - entire matter)....

Hari has done a good thing by reserving 10 posts, catering to various aspects & rules of this flow method.
The other pages are not meant for thanks & wows, etc, but, as hari also wants, a place where all such posts are gathered...

the volunteer will also realise (like i did today, after posting ST's reversal failure query & answer last night), his own knowledge gets enhanced while doing this exercise... & u never know, when u may be rewarded for this "extra-information" which is lying somewhere in this 800 page thread...

to scan 50 pages by one person by this weekend is not a big deal...

what say???????????????????????????????????????????????????????

Great Idea! I am too in. But will be organising and putting in a relevant all the post you guys/gals pick up and post in library thread.
First we need to be organised to start the project.
So as the primary initiative, I have started a new thread for this project management alone or for just a start up.

YOU NEED TO DO IS
1. First we are gathering al the members who are interested in participating this Mini-Flow thread scanning project as said by tsunil. After that we will allocate the pages(nos.) for each of them.

So if you are ready to participate in this project and have no problem in doing social service which is self service too in another words in this project can go to the below new thread and post you willingness like below format.

New Thread Link:
http://www.traderji.com/day-trading-stocks/25102-project-scanning-intrday-mini-flow-thread.html

Name: <your name>
Agreeing to participate in the Min-Flow thread scanning project.

Hari.

 

[Smart_trade]

Posting todays Nifty futures chart,marking the trades on it :

I have traded today's miniflow as under :

This is a 30 min flow system.So we should base most of our decisions on 30 min charts with ocassional help from 15/20 and 60 min charts.We should avoid looking at 15 min all the time or else it becomes a 15 min flow system.

I have numbered the bars ( all 30 min barsexcept first of 5 min) for easy identification.

I think every one is clear on the first long entry ( 2745 +7=2752 ,as it is move 2 of the day) Now this breakout bar (bar no 3) should close strong.But instead of that it turned out to be a "hanging man" closing at lower than 50 % range.Cause for worry and thinking. In bar 4,it breaks the low of breakout bar .It is bearish so we reverse to short position in bar 4 at 2737-7=2730

Then we have 2 bars rule after completion of bar 6and our initial stoploss which was at 2775+7 =2782 was brought down to 2759+7=2766,it is also a immediate 60 min high.

On break of bar no 5 low,a WRB low,we could take add to short at 2681-5=2676. We could have also booked 1/3 profits at 2678-2675 range if desired,and balance profit at 3:20 at 2665-2685 range.

These are the trades which I have done as per my understanding.They may be wrong also .


Best Wishes,

Smart_trade

 

[beethoven]

ST,

Bar 5 was a WRB. Bar 6, 7, signalled a reversal and this also was reflected on 60 min TF. I did not reverse on the break of bar 7 high but on the break of bar 5 hi + room. 60 min supported here also. The bar 8 and Bar 9 shot up. Why did you not take this trade??

60 min was clearly showing green and was on the upswing. 30 and 60 TF coming together.

I guess it was just one of those days when trades do not go your way.

I find no error in my actions until and unless someone puts up a logical explanation.

Bee

 

[niftychance]

ST,

Bar 5 was a WRB. Bar 6, 7, signalled a reversal and this also was reflected on 60 min TF. I did not reverse on the break of bar 7 high but on the break of bar 5 hi + room. 60 min supported here also. The bar 8 and Bar 9 shot up. Why did you not take this trade??

60 min was clearly showing green and was on the upswing. 30 and 60 TF coming together.

I guess it was just one of those days when trades do not go your way.

I find no error in my actions until and unless someone puts up a logical explanation.

Bee

Hello Bee

Heres the answer just a few pages back ...

Thanks

Shall answer later on in the day.........in brief: Don't look at reversal bars if any on the 30,it is the 60 wherewe are looking at reversal bars,etc

Every bar on the 60 is not something we take action upon.......in today's case,what we had was a WRB Breakdown from 2 sideways bars followed by a resting bar that was way below the 50% of that WRB,meaning,only on negation of the entire wrb,do we think of reversing.

More later......basically a yawn,do-nothing-much sort of a day.

Saint

(This was posted by Sir @ 3:27 PM, yesterday)
==========================================================

To everyone, not specific to bee ...

Are we so caught up in our own interpretations ... that we have stoped listinening to the Boss ....

Even after clear concise explanation is given by SAINT Sir we burry it in tons of "Important sounding" posts ... and keep on wondering what went wrong ...

If we care to notice in the above post, no where, Saint Sir mentions about refering to 15 mins ...

The trades given by ST are correct and in sync with Sirs post

Thanks

PS: I also took the long trade @ 2716, but after seeing the explanation by Saint Sir, realized the mistake.

 

[Sunil]

Sunil,

I think your dependence on 15 min chart is on the higher side.

Bee

I am quite surprised to read this remark, Bee..
I have been making sarcastic remarks, in general, to those who like to plot & follow 15min pivot bars - if they know me, then they will be more surprised on reading your comment...

 

[ramling]

Hello Bee

Heres the answer just a few pages back ...

Thanks


(This was posted by Sir @ 3:27 PM, yesterday)
==========================================================

To everyone, not specific to bee ...

Are we so caught up in our own interpretations ... that we have stoped listinening to the Boss ....

Even after clear concise explanation is given by SAINT Sir we burry it in tons of "Important sounding" posts ... and keep on wondering what went wrong ...

If we care to notice in the above post, no where, Saint Sir mentions about refering to 15 mins ...

The trades given by ST are correct and in sync with Sirs post

Thanks

PS: I also took the long trade @ 2716, but after seeing the explanation by Saint Sir, realized the mistake.

Dear Sir,
Though I am NEW I fully endorse the view of NC.I think everyone want to out smart the market when it is in side ways/whipsaws.As Mr.Saint pointed out it a pivot or 60 min WRB IS REVERSAL.A healthy disscussion is always good to sharpen our trading skills.
S.R.

 

[Smart_trade]

Hi Bee,

A very valid question.When the market was taking a rally after bar 5 yesterday, I had debated this point in my mind.This trade is not an afterthought.I had discussed this with some of my friends who follow this system and my reasons for not reversing above the high of bar 5 yesterday were as under :

Look at bar 6,a tiny white candle,bar 7 also nothing worth writing home about,observe the volumes,they are less than average. Bar 8 was a strong candly but market to me took 3 candles of 30 min to break bar 5 WRB top.This is a limping action. This is more of "meak excuse of a reversal " as Saint puts it rather than a strong reversal. I would have reversed if market would have had a resting bar immediately after bar 5 and this bar had closed above 50 % of bar 5 and the subsequently another strong bar OR a immediate reversal bar after bar 5 which would have taken out bar 5 high in a strong thrust. But this limping market action and volumes made me keep my SAR at high of bar 4 on 2 bar rule and 60 min bar high rule. But I certainly had to do thinking and decision making here when market was going on realtime.

Best Wishes,Trade Well .....

Smart_trade

 

[santhosh44]

In bar 4,it breaks the low of breakout bar .It is bearish so we reverse to short position in bar 4 at 2737-7=2730

Then we have 2 bars rule after completion of bar 6and our initial stoploss which was at 2775+7 =2782 was brought down to 2759+7=2766,it is also a immediate 60 min high.

Missed both this Smart_Trade. My SAR for the first long was @ 2706. Also entered the third trade by mistake - long @ 2715 .

Wished you were here yesterday during the market hours to correct us

Thanks again for the explanations given ST.

And one humble request to all juniors who have just started to follow the thread..

Rather than stating something (which is not suggested any where in the miniflow rules) and then challenging seniors to prove it wrong, allow seniors to talk first, listen to their advices/suggestions/comments and then get your doubts clarified by asking them valid questions . I hope if we continue it in such a way, it will really be helpful for a sub-junior/fresher like me