Going with the Intraday Mini-Flow!!

[Saint]

You have comprehended it wrong I guess!

Nothing better than pivot IF a pivot is formed before we are stopped out/revert/fresh entry/add etc...

If no pivot is formed then obviously we do not use a pivot!

Regards

Great stuff as always,MB!

Saint

 

[Saint]

Yes of course! On choppy days market might want a bit from us to compound it and give it all back plus more on the trend days.

Look for smaller TF if not comfortable... No hard and fast rule to trade this strategy if not comfortable with the thought of choppy days... and land up with 50+ points in loss!

Smaller TF... check out MJ's thread "Trading 5 min with 60..."

Took the trade before 10.30... holding it on and on... where every bar making fresh lows! Still SL same at 4178 ( a Loss of 36 points) where we just made a low of 4088... a profit of 54 points...

If comfortable holding it yet... then go for this system... if not... then will not be able to ride the entire trend(psychological barriers) which will indeed take you and out in wrong directions....

Trade well.

Regards

ps:- Saint not discouraging this system... I personally traded this today... and might be trading it here on
Just advising others who are not comfortable with holding intraday positions for long .... 5 with 60 min is also a lesson from you!
Hope I have not hurt your sentiments
Please do not misunderstand me! Which is in the air nowdays

Nothing 2 misunderstand........we are all finally going to do what we are comfortable with.From my end,am just sharing something that looks interesting.

Once again.....Let's see how it goes...Although I am not very sure about it being more ineffective as compared to the 5/60.All I can say is...Let's see how it goes.

Saint

 

[Saint]

Hi All,

Today's 30min NF chart

Regards

Reji

Thanx Reji,as always!!

Saint

 

[Saint]

Won't be in tomorrow.....the seniors please help out in the answering of doubts.

And by seniors,not going just by post count(yes,therefore include you too,NC)......you all know who you are.Please help.

Do capitalise on a massive trend move if you get one.

Saint

 

[orderflow13]

No overanalysis,Alex......trying to see the big picture and the entire picture.We are basically trading the 30,the 60 for a broader perspective and the 15 to have a look at the pivots.

And we are not playing the 5......not interested in the small moves,although we have no choice in the matter.If we get 20 pts today,great.If we can milk 400 pts great.....

The trades are of the 30 still........wonder why you would think we are trading the small time frame.Suggest you go back and read Pg78 again ....all explained there.

Saint

.

i didnt go to that page b4, ( i think its 77 page what u referring at ) now read and got the concept clear .
Actually what i wanted to say was 30 min time frame is good, as i saw lots of intra day traders use 5 min charts and trade n get whipsaws out, i am in for 30 min n out for 5 min, ( as u mentioned in first post, we not obeying conventional rules of day trading, ppl use 5 min, 1 min tf, we using 30 min tf))
p.s. i will miss ur comments tomorrow,
thanks n grateful as always
Alex

 

[milkyblack]

Nothing 2 misunderstand........we are all finally going to do what we are comfortable with.From my end,am just sharing something that looks interesting.

Once again.....Let's see how it goes...Although I am not very sure about it being more ineffective as compared to the 5/60.All I can say is...Let's see how it goes.

Saint

Never said ineffective nor thought

Indeed I like it... kind of backtested with smaller TF... results might be the same... but nothing better than few trades and make more... over all expenses drops... and adds to our profits!

Thanks Saint

Regards

 

[trillian]

Hi Saint/MB/NC/ST,

Let me explain ystdy's trade with this strategy. correct me where I am wrong.

First 5min bar high ---> 4171 low --->4156

Long abv --> 4171 + 14 = 4185 , short blw --> 4156 - 14 = 4142.

In nxt 25 min bar short triggered @ 4142 with SL 4171 + 7 = 4178.

2nd bar is 30 min bar which has high ---> 4165 low ---> 4129 and our SL adjusted to 4165 + 7 = 4171 or we should look for pivot high in 15/20 for trail SL?

If we look for Pivot high as we are short here then pivot high is 5th bar in 15min i.e 4144 so here we should adjust our SL to 4144 + 7 = 4151 or we should look for WRB?

If we look for WRB PH then it occurs @ 12 th bar in 15min i.e high ---> 4110 so we should trail our SL 4117.

Is it correct upto here?

Please someone confirm and also what will be the next step?

 

[Smart_trade]

VPS,

Sorry,saw your post only this morning as was tied up in something else yesterday.

Saint has answered your querry on page 97 (post no 963.)

Smart_trade

 

[VJAY]

Saint Sir,
Please ans my this querry whenever you have time to look this post.no hurry.ADDS:There will only be one add to the initial posn.......if we get a momentum move,with big WRB's,then might be 2 adds max.Whether you add an equal no.of contracts or lesser is up to you,so long as you don't add more number of contracts than the initial posn.......Adds at Rs5.
1.please explain when we add .The WRB understood,but the momentum...please


2PROFITS:You could take out profits of about a third at the area equivalent to the risk of that trade......If stop loss was Rs 45 away,and you got a Rs45 move and would like a third off.Fine.Once again up to your personality type.

sir,for profit booking 1/3.when allready we changed initial s/l to trailing 1 or 2 times then which s/l we take.is it initial s/l?

Thanks & Regards
VJAY

 

[lvgandhi]

Smart_trade

Everytime there is a pivot do you have to change stop loss following 2 bar rule or the nearest PH/PL? Is this the rule being followed?

vps

Out of two bar rule and pivot, pivot is preferred as per Saint, if I am correct.