Going with the Intraday Mini-Flow!!

[Saint]

VPS

Let me try to explain as per my understanding VPS,

today 1st 5 min bar had a high of 4172 and low of 4157. After we get these levels we come to 30 min timeframe now.So in next 25 min the NF has to break either 4172+14 =4186 or below 4157-14 = 4143. Neither of the two levels were broken in first 30 min bar.So no entry.For first 30 min bar had H=4172,L=4149

Next 30 min bar has to break either 4172+ 14 =4186 or below 4149-14=4135.No level was broken This bar high =4184,L=4162 so no entry.

Next 30 min bar has to break 4184+14=4198 or below 4162-14 = 4148,none of the levels broken in this bar. H=4192,L=4178 so no trade!!!

Next bar has to break 4192+14=4206 or below 4178-14 = 4164. And it broke 4206 in this bar hence our LONG entry triggred.STOPLOSS 4191-7=4184
for this bar H=4208 L=4191

Other trade short at 4182-7=4175


Smart_trade

SmartT,

All correct except that stop loss on the initial posn........4150-7=4143

We finally reversed the moment the pivots broke down,which was much higher.....but initial stop loss was at the time of entry the low of day -Rs7 viz.4150-7=4143.

Too close a stop loss would have killed the trade early........and contributed to many wrong entries and exits.

Saint

 

[Saint]

Saint - Was just trying to backtest September- did 3 days - can you please confirm if the trades are right? I feel I am a little confused on trailing the Stops !

1st Sept - S4315->L4347->E4516
4th Sept - S4441->L4481->E4447
5th Sept - S4354->L4384->E4363

Will go ahead further on backtesting after your confirmation.

Thanks

Hi Alok,

Sept 1st:Short 4315,Cover and Long at 4296+7=4303,Adds in between,Exit at 4358
Sept 2nd:Long 4388,Sell 4516
Sept 4th:Short 4458-14=4444,Cover and Long at 4473+7=4480,Close at 4463
Sept 5th:Short 4354,Cover and Long at 4383,Close at 4368

Saint

 

[alokdaga]

Hi Alok,

Sept 1st:Short 4315,Cover and Long at 4296+7=4303,Adds in between,Exit at 4358
Sept 2nd:Long 4388,Sell 4516
Sept 4th:Short 4458-14=4444,Cover and Long at 4453+7=4460,Close at 4463
Sept 5th:Short 4354,Cover and Long at 4383,Close at 4368

Saint

Oops - I mixed up 1st and 2nd into one day !!

Why do we go long above 4296+7 on 1st ? I mean what rule we use
Similarly - how do we go long on 4453+7 on 4th - is it because of 4 bar rule?

Thanks for your efforts and patience !

 

[Saint]

Oops - I mixed up 1st and 2nd into one day !!

Why do we go long above 4296+7 on 1st ? I mean what rule we use
Similarly - how do we go long on 4453+7 on 4th - is it because of 4 bar rule?

Thanks for your efforts and patience !

Alok,

The second was a typo.......it is 4473+7 on 4th.

The first one.....Okay this is where having a look at the 60min charts helps us as well.Have a look at that pattern on the 60min chart,the one with the high of 4296......

Saint

 

[Saint]

First half of Sept2008

Saint

 

[Saint]

September till date...

Saint

 

[vpsarathy]

ST,

I got up and saw your mail. Excellent explanation made it crysral clear. Thanks a million.

When 4206 was taken out we entered at 4206. When SL 4184 is taken out why don't we reenter at 4184, why go to the low of the bar 4175? Then what should be SL now?
vps

 

[lvgandhi]

LVG,

HIgh of 5th bar is 4213. Typo in your post. Your Q is ditto of mine to Smart_tradeat 8.20pm, thanks for pointing out. I thought ppl will pounce on me. Now I am not alone

vps

corrected.

 

[Smart_trade]

ST,

I got up and saw your mail. Excellent explanation made it crysral clear. Thanks a million.

When 4206 was taken out we entered at 4206. When SL 4184 is taken out why don't we reenter at 4184, why go to the low of the bar 4175? Then what should be SL now?
vps

VPS,

Saint has clarified this point in his reply to my post above.

The initial stoploss considered by me was wrong.It should be low of the day less Rs 7 (4150-7=4143)
But when the mkt came down we had a pivot low 4182 in place on 30 min bar.Hence SAR at 4182-7=4176.

Best Wishes,

Smart_trade

 

[uthuman]

After the first bar of 5mts, we have to place the long/short order for the next 30mts. Correct? (that is we have to keep only 30mts chart after the first 5mts chart, correct?)