Going with the Intraday Mini-Flow!!
- Thread starter Saint
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- Tags intra day live intraday nifty miniflow miniflow live nifty futures trading nifty intraday trading saint
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Re: Intraday Miniflow Trades for Today: Saint's Method
Today's trade:
First bar high 2856 and low 2838.
2nd bar high 2862 and low 2827.So no trade yet and we modify our stop loss orders as per these values.
3rd and 4th bar were sideways and that gave us the pivot high value as 2862. Now we go long above 2862 + filter.
The 12 o'clock bar takes out the filter and we go long. It is a WRB, so we keep our SL below this bar after the bar is complete.
We take the first add when the high of this bar is taken out.
After this we get few more bars making HH and HL, but we do not change our Stop loss as the 2 bar method or 15 min charts are to be used only in case of steep moves. We keep the SL unchanged below the WRB.
We also get a pivot high of 2921 (2 pm bar). We take another add when this pivot is taken out. And at the end of the day we book the profits as per our convinience.
So, in the end it was a good day with one move only.
Today's trade:
First bar high 2856 and low 2838.
2nd bar high 2862 and low 2827.So no trade yet and we modify our stop loss orders as per these values.
3rd and 4th bar were sideways and that gave us the pivot high value as 2862. Now we go long above 2862 + filter.
The 12 o'clock bar takes out the filter and we go long. It is a WRB, so we keep our SL below this bar after the bar is complete.
We take the first add when the high of this bar is taken out.
After this we get few more bars making HH and HL, but we do not change our Stop loss as the 2 bar method or 15 min charts are to be used only in case of steep moves. We keep the SL unchanged below the WRB.
We also get a pivot high of 2921 (2 pm bar). We take another add when this pivot is taken out. And at the end of the day we book the profits as per our convinience.
So, in the end it was a good day with one move only.
Re: Intraday Miniflow Trades for Today: Saint's Method
Most of us ( including me ) reversed on 2 bars rule only to reverse to long again. But now when I see the charts and analyse market action ,I realise that reversing on 2 bars rule was wrong. This is so because we had a WRB breakout from a long sideways consolidation. WRB indicates strength in the market. After WRB,it is quite natural for the market to go into a bit of consolidation phase.Weak hands holding long positions try to book profit after WRB as the profit accumalated is quite good and they dont want to loose it.
That is what market did,3 bars of small body candles and a swift downmove which hit our stoploss and we all reversed to short. Here we also had a pivot on 15 min and 60 min timeframe was agreeing with reversal to short.We were well within our rules to reverse but the WRB preeceeding all this action changed the entire perspective and this becomes a case of exception to the rule. There were also no average size candles after WRB which could have kept our stop at a safe distance.
WRB move is reversed only in following three conditions.
1) We get a WRB after a sustained long and strong move,low volumes and we get a resting bar after WRB and cracking of this resting bar low is a signal to reverse.
2) WRB after a consolidation could be reversed only if its low is cracked in subsequent bars.
3 ) WRB after consolidation and the next bar is a resting bar which closes below 50 % of WRB ( we are talking of bullish WRB here ) and the low of this resting bar is cracked subsequently.Then we reverse.
Today we had none of the above situations and hence we should have kept SAR at low of WRB and reversing on 2 bars rule and 15 min pivot though the higher timeframes were agreeing was clearly wrong today. I did this mistake and thought about it and had to bite the bullet. But if someone wants to go in denial mode and say reversing was right,he is welcome to his opinion and actions.
I have learnt a very important lesson today and I am happy about it.
Best Wishes,
Smart_trade
Most of us ( including me ) reversed on 2 bars rule only to reverse to long again. But now when I see the charts and analyse market action ,I realise that reversing on 2 bars rule was wrong. This is so because we had a WRB breakout from a long sideways consolidation. WRB indicates strength in the market. After WRB,it is quite natural for the market to go into a bit of consolidation phase.Weak hands holding long positions try to book profit after WRB as the profit accumalated is quite good and they dont want to loose it.
That is what market did,3 bars of small body candles and a swift downmove which hit our stoploss and we all reversed to short. Here we also had a pivot on 15 min and 60 min timeframe was agreeing with reversal to short.We were well within our rules to reverse but the WRB preeceeding all this action changed the entire perspective and this becomes a case of exception to the rule. There were also no average size candles after WRB which could have kept our stop at a safe distance.
WRB move is reversed only in following three conditions.
1) We get a WRB after a sustained long and strong move,low volumes and we get a resting bar after WRB and cracking of this resting bar low is a signal to reverse.
2) WRB after a consolidation could be reversed only if its low is cracked in subsequent bars.
3 ) WRB after consolidation and the next bar is a resting bar which closes below 50 % of WRB ( we are talking of bullish WRB here ) and the low of this resting bar is cracked subsequently.Then we reverse.
Today we had none of the above situations and hence we should have kept SAR at low of WRB and reversing on 2 bars rule and 15 min pivot though the higher timeframes were agreeing was clearly wrong today. I did this mistake and thought about it and had to bite the bullet. But if someone wants to go in denial mode and say reversing was right,he is welcome to his opinion and actions.
I have learnt a very important lesson today and I am happy about it.
Best Wishes,
Smart_trade
Last edited:
Re: Intraday Miniflow Trades for Today: Saint's Method
ST,
Very well explained. Please keep posting your interpretation of the price action.
I would like to say this -- rules are formed for the beginners to follow it without getting into too much trouble. As rules will always get you statistically profitable trades in the long run. If some trades are lost because of rules failing one should not get unduly disturbed.
But I will now say something about evolution. Some of us who see price action and have gone deeper onto the principles which have lead to the formation of the rules will see the rules as a guideline and not as a cast iron thing which a beginner does and is asked to do so, as the full comprehension of the principles has not seeped in yet.
Some of the students of 30 min miniflow and 60 min flow have graduated on to the next level and have changed gears.
The new comers are better advised to stick to the rules very strictly till you fully understand the principals behind the rules. No one will ever explain the principals behind the rule. That is a self exploratory process driven by individual passion for trading. This will finally separate men from boys eventually.
Some thoughts which ST's post provoked me to write down.
Bee
ST,
Very well explained. Please keep posting your interpretation of the price action.
I would like to say this -- rules are formed for the beginners to follow it without getting into too much trouble. As rules will always get you statistically profitable trades in the long run. If some trades are lost because of rules failing one should not get unduly disturbed.
But I will now say something about evolution. Some of us who see price action and have gone deeper onto the principles which have lead to the formation of the rules will see the rules as a guideline and not as a cast iron thing which a beginner does and is asked to do so, as the full comprehension of the principles has not seeped in yet.
Some of the students of 30 min miniflow and 60 min flow have graduated on to the next level and have changed gears.
The new comers are better advised to stick to the rules very strictly till you fully understand the principals behind the rules. No one will ever explain the principals behind the rule. That is a self exploratory process driven by individual passion for trading. This will finally separate men from boys eventually.
Some thoughts which ST's post provoked me to write down.
Bee
Re: Intraday Miniflow Trades for Today: Saint's Method
supertrader3333....this is how i understand TA so far...not confined to this method but overall...everything is co-related ......each and every bar in itself has no identity or meaning unless its been seen has a whole bunch of bars or far of off bars....
yr question regarding defining steep ? 100 -300 point move ?
no there's no exact number by which we can define steep, wrb ,pivot....
its just by comparing to its adjacent bars it can be concluded whether its a steep or not a steep bar.....
yes u can say a move from 2840 to 2940 has a steep move but wt if the prev bar had a move from 2540 to 2840 ...a 300 point bar...and a prev to prev bar had a range of 250 pts...now would this 2840-2940 move be called a steep move....yes the things would had been different if the prev bars had high,low range of merely 20-30 pts....
its like just draw a line on a paper and to question if the line in itself is small or big line..unless we draw a parallel line adjacent to it....
as you know a very simple answer defining pivot, wrb, gradient....
is to go with the 'EYE' .....but still we gonna make mistakes in the future and learn from it....
supertrader this is just an eg in relation to yr questioning of a steep move ..
ps : i m trying my best to convey wt i mean...any correction or comments on the views would be appreciated...
supertrader3333....this is how i understand TA so far...not confined to this method but overall...everything is co-related ......each and every bar in itself has no identity or meaning unless its been seen has a whole bunch of bars or far of off bars....
yr question regarding defining steep ? 100 -300 point move ?
no there's no exact number by which we can define steep, wrb ,pivot....
its just by comparing to its adjacent bars it can be concluded whether its a steep or not a steep bar.....
yes u can say a move from 2840 to 2940 has a steep move but wt if the prev bar had a move from 2540 to 2840 ...a 300 point bar...and a prev to prev bar had a range of 250 pts...now would this 2840-2940 move be called a steep move....yes the things would had been different if the prev bars had high,low range of merely 20-30 pts....
its like just draw a line on a paper and to question if the line in itself is small or big line..unless we draw a parallel line adjacent to it....
as you know a very simple answer defining pivot, wrb, gradient....
is to go with the 'EYE' .....but still we gonna make mistakes in the future and learn from it....
supertrader this is just an eg in relation to yr questioning of a steep move ..
ps : i m trying my best to convey wt i mean...any correction or comments on the views would be appreciated...
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Re: Intraday Miniflow Trades for Today: Saint's Method
ST has explained it beautifully.
Now lets look at the the chart again. We get a WRB which puts us into longs. After this WRB we get 4 bars that put together actually move only 30-35 points up. Now this is a limp move that we have got after a WRB.
ST has explained it beautifully.
Now lets look at the the chart again. We get a WRB which puts us into longs. After this WRB we get 4 bars that put together actually move only 30-35 points up. Now this is a limp move that we have got after a WRB.
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