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Saint's Pivot Method put to practice.

Discuss Saint's Pivot Method put to practice. at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Amit, I find with my association in this Forum since long ,that even when Saint's ...


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  #11  
Old 10th June 2008, 09:00 AM
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Default Re: Saint's Pivot Method put to practice.

Amit,

I find with my association in this Forum since long ,that even when Saint's method seems so simple ,there always was & is some confussion.Hence repeating the same is necessary.
Thks for taking that task on your shoulder.As Sanjay said plz be consistent.Plz post charts so that all of us can understand which one is the Pivot .

Asish
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Old 10th June 2008, 09:18 AM
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Default Re: Saint's Pivot Method put to practice.

Quote:
Originally Posted by jamit_05 View Post
The idea behind this thread is to chisel out, in our minds and hence in practice, precisely the method Saint wants us to learn.

Therefore, during the trading hours I will be putting in the trades. These trades are open to discussion, which is the core-idea behind this thread.

Saint and Sanjaybhai have been very (oh! very) patient with me. Sanjaybhai suggested I do this thread. Therefore, let us all use this thread as a good learning tool.

Look forward to co-operation, lots of discussions and comradery.

Amit.

PS: Seniors, without your intervention this thread pretty much has no meaning. So, do glance by every now and then.
Good wishes from my side too! Wish it becomes a grand success!

Regards
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  #13  
Old 10th June 2008, 10:09 AM
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Default Re: Saint's Pivot Method put to practice.

Missing your posts for some time,Amit.......Good to have you back.

Wishing you all the best!Shall chip in with something here and there,or if any clarifications required.

Great going,Amit.
All the best,
Saint
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  #14  
Old 10th June 2008, 10:46 AM
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Default Re: Saint's Pivot Method put to practice.

Quote:
Originally Posted by jamit_05 View Post
The idea behind this thread is to chisel out, in our minds and hence in practice, precisely the method Saint wants us to learn.

Therefore, during the trading hours I will be putting in the trades. These trades are open to discussion, which is the core-idea behind this thread.

Saint and Sanjaybhai have been very (oh! very) patient with me. Sanjaybhai suggested I do this thread. Therefore, let us all use this thread as a good learning tool.

Look forward to co-operation, lots of discussions and comradery.

Amit.

PS: Seniors, without your intervention this thread pretty much has no meaning. So, do glance by every now and then.

A very positive initiative Amit. It will make the method clear to people who want to incorporate different trading ideas in their trading.It will also encourage traders to practice the system and gain confidence. Confidence in the system and the effortless execution are the pillars of successful trading. It will make great demand on yr time but it will be a very novel project I am sure. All the best wishes and all the members offer our help whenever you need.
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  #15  
Old 10th June 2008, 11:04 AM
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Default Monday's Trades.

Pls refer to the attachment for Mondays Trades.

Entries are in Blue Numbers and their corresponding Exits in Red. This is very simple currently as only One trade is held at a time.

I am still holding the last entry at 4434.70, since the stop is not hit.


PS: All three of my trading Heroes have taken notice and graced the thread with their advice. Now, I am very positive that we will extract something of good value from this excercise.
Attached Images
File Type: png MondaysTrade.PNG (49.1 KB, 196 views)

Last edited by jamit_05; 10th June 2008 at 11:11 AM.
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  #16  
Old 10th June 2008, 11:06 AM
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Default Stop moved to 4474.5

The Stop for the last trade, which was a short at 4434.70, has been moved to 4474.5.

Current 30 min Pivots to watch out for:
PH: 4500.70
PL: 4396.70
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  #17  
Old 10th June 2008, 11:24 AM
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Default Re: Beginning.

Quote:
Originally Posted by SGM View Post
Hello Amit

Why wait for a downtrend (opposite trend) on 5 minutes? I know a decline on 30 minutes may look like a downtrend on 5 minutes, but is it mandatory for your setup?

If the 30 mins is in a confirmed uptrend, can we not take a trade on the breakout of a previous pivot high on five minutes chart? (maybe u can confirm this with Saint)
Yes, looks like a question which Saint needs to answer.

Quote:
Originally Posted by SGM View Post

And

Will it be only intraday trades or will you carry the position to next day?
Will be carrying the trades to next day.


Quote:
Originally Posted by SGM View Post
I understand that currently you have no rules for scale-ins / outs (or adds as Saint puts it), i guess that should be ok for the time being. But just keep in mind, thats the place where real profits come from. So as you go along keep in mind those add points, and eventually start marking them on your charts.

Just one more thing, Strive to be Consistant, rather than ... ...
Yes, Sanjaybhai, once I get the grips adds will be an interesting transition. I will start looking out for those pivots where adding makes sense. In due time I hope I am able to put them onto the charts and post them here.

And the first question you asked is awesome food for thought for me. Kinda questioning the fundamentals, as a result we end up believing them more or changing them for good.
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  #18  
Old 10th June 2008, 11:30 AM
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Default Re: Beginning.

Quote:
Originally Posted by rkkarnani View Post
Hello Amit, If not a bother , how about posting the current chart of 5 and 30 minutes and point out the Long Short entry... marking the pivots ...though a tall order but wud b very helpful for ppl like me, still in the learning stage of Pivots!!!
Regards
R K Karnani
Karnaniji, yes it is a good idea to post the charts.

With more of such pointers, this thread could be streamlined to have maximum participation from like-minded pivotians.
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  #19  
Old 10th June 2008, 11:36 AM
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Default Re: Beginning.

Quote:
Originally Posted by SGM View Post
Hello Amit

Nice to see you start this thread. A few things not clear to me..

Why wait for a downtrend (opposite trend) on 5 minutes? I know a decline on 30 minutes may look like a downtrend on 5 minutes, but is it mandatory for your setup?

If the 30 mins is in a confirmed uptrend, can we not take a trade on the breakout of a previous pivot high on five minutes chart? (maybe u can confirm this with Saint)

Dear Sanjay in my veiws if we are taking trade after a scrip completes its down trend is more safer than taking trade at any pivot
and while 5 min completes its downtrend in 30 min uptrend at the same time we also see it is a complition of pullback ( Not down trend in 30 min )

So i thinnk its more safe and in my veiw we should not take any pivot for entry if its near complition of downtrend then its safer

waiting Saint and others veiw

Regards
Satya
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  #20  
Old 10th June 2008, 11:43 AM
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Default Re: Saint's Pivot Method put to practice.

Quote:
Originally Posted by uasish View Post
Amit,

I find with my association in this Forum since long ,that even when Saint's method seems so simple ,there always was & is some confussion.Hence repeating the same is necessary.
Thks for taking that task on your shoulder.As Sanjay said plz be consistent.Plz post charts so that all of us can understand which one is the Pivot .

Asish
That really was my hang-up, the method is simple still elusive!!
There are several nuances that need to be ironed out, with practice it will be so.

And thank you for coming by. Pls do that often and nudge us in the right direction.
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