Mistakes I made in the Flow Method

[Sunil]

Alex,

I feel, instead of sharing mistakes only in text format, it would be better if we use this thread to enhance our reversal pivot-spoting technique.
I believe that one cannot make the same mistake again & again, because no charts of any 2 days will be the same - infact, even the atmosphere (economical/political/emotional news, etc) are different each day.
Mistakes are made only on lack of concentration/adaptability (which leads to taking wrong trade) or lack of confidence (which leads to missing a trade which turns out to be good) or a simple wrong money-management.

Each day is unique, and each day may create new chartical situations which may warrant full understanding of reversal bars...
let me start with yesterday's chart...

 

[Sunil]

As apparent from chart, we are in short position as 15/30 min Bar 1 broke down. Stop was at High of this Bar 1 + room.

Till 11:00 nothing happened - no pivots formed, no LL movement...
Then 15 min Bar 7 made an attempt to cross High of Bar 1 + room, but it failed. So, our shorts continue. After 15min 8th bar / 30min 5th bar, we shift our SAR to the high + room of 15min 7th bar / 30min 4th bar.

NF goes down further, and also reach our initial part-profit booking level / add level (taken subjectively as per one's comfort).

15min Bar 10 & 30min Bar 6 are good WRBs in favour of our position.
Now, let's look ONLY at 15min chart now...Look at Bars 11-14...
We have a pivot in Bar 12, but should we take it as a reversal pivot???

Now, let's have a look at 20min, 30min & 60 min charts (remember, this is 30min flow method - 15/20min is only to spot reversal pivots & 60 mins is for confirmation overall)

NO SUCH PIVOT FORMATION IN 20MIN CHART.
NO PIVOT IN 30MIN CHART. 30MIN WRB 6'S HIGH IS NOT NEGATED...
SAME CASE WITH CORRESPONDING 60MIN BAR 3...

So, we do not consider 15min Bar 12 as reversal pivot and stick with SAR as high of Bar 10+room.


PS: I have purposely not posted the complete chart, but just for info - if Bar12 would have been taken as SAR, then it would have led to losses in reality.
It could have resulted in good upmove too, but safe & reasonable level to SAR would be to take out those corresponding 30min & 60min WRB highs. Sometimes, it is advisable not to jump on the gun quickly.

 

[vvvv]

alex
sincere advice from me,,,
change to name to " mistakes i made in the miniflow method".
let us all cut down on our jokes & make this thread a serious thread to learn from our mistakes.we can all delete our "anna" thing to start with.
considering the kind of people i find here posting, im happy to read the posts of this thread & learn a lot from u,sunil,ST, MB...etc.etc.

 

[rkkarnani]

As apparent from chart, we are in short position as 15/30 min Bar 1 broke down. Stop was at High of this Bar 1 + room.

Till 11:00 nothing happened - no pivots formed, no LL movement...
Then 15 min Bar 7 made an attempt to cross High of Bar 1 + room, but it failed. So, our shorts continue. After 15min 8th bar / 30min 5th bar, we shift our SAR to the high + room of 15min 7th bar / 30min 4th bar.

NF goes down further, and also reach our initial part-profit booking level / add level (taken subjectively as per one's comfort).

15min Bar 10 & 30min Bar 6 are good WRBs in favour of our position.
Now, let's look ONLY at 15min chart now...Look at Bars 11-14...
We have a pivot in Bar 12, but should we take it as a reversal pivot???

Now, let's have a look at 20min, 30min & 60 min charts (remember, this is 30min flow method - 15/20min is only to spot reversal pivots & 60 mins is for confirmation overall)

NO SUCH PIVOT FORMATION IN 20MIN CHART.
NO PIVOT IN 30MIN CHART. 30MIN WRB 6'S HIGH IS NOT NEGATED...
SAME CASE WITH CORRESPONDING 60MIN BAR 3...

So, we do not consider 15min Bar 12 as reversal pivot and stick with SAR as high of Bar 10+room.


PS: I have purposely not posted the complete chart, but just for info - if Bar12 would have been taken as SAR, then it would have led to losses in reality.
It could have resulted in good upmove too, but safe & reasonable level to SAR would be to take out those corresponding 30min & 60min WRB highs. Sometimes, it is advisable not to jump on the gun quickly.

I made this error in paper trading yesterday!!! I went long above 15 min. PH at 12.45 bars high, though at that time the 12.30 PM in 30 min. was already a PH too!! In 15 minutes also the 12.15 bars high was a PH which corresponded to 30 min.PH!
Better, let us change the "Sometimes" to "Never", Never jump the gun................

 

[orderflow13]

thanks sunil, vikram and other members for sharing same point of view.Sunil made very valid point.No one can make same mistake again n again about rules but those small things count.

 

[Sunil]

thanks sunil, vikram and other members for sharing same point of view.Sunil made very valid point.No one can make same mistake again n again about rules but those small things count.

The thing is that everyone knows the rules by heart & we all have become robots.
But, even robots need a remote control - in this case, it's our eyes & understanding of "reversal pivots"...
simple pivot bars are easy - just go ahead & reverse - like what we had during last half hour's trade.
it's only during sideways movements that we need to all come together & have a consensus on the reversal pivot bar.
I request that such days should be posted here & this be our LIBRARY thread.

 

[ThE HaMmEr]

Really feeling baad for stepping out OF LONG TRADE today at 3054..........

 

[lvgandhi]

Really feeling baad for stepping out OF LONG TRADE today at 3054..........

You have a new trade tomorrow. Hope to get good with that.

 

[ThE HaMmEr]

you have a new trade tomorrow. Hope to get good with that.

absolutelyy.........loosing is very very imp..........

To win big..........

 

[Sunil]

Really feeling baad for stepping out OF LONG TRADE today at 3054..........

but u could have re-entered long on break of pivot high 3079+room post 2pm
that pivot high is in 15/20/30 min & was the high of 60min sideway bars...

infact i added back the earlier 1/2 which i had booked out at around 3065