Saint's Pivot Method put to practice.

jamit_05 · #1 9th June 2008, 09:31 PM

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.

sunbim31 · #2 9th June 2008, 09:39 PM

Great start Amit, I will learn from you all.

jamit_05 · #3 9th June 2008, 09:41 PM

Hi,

For the sake of getting sufficient practice I want to trade the 5 min chart, with 30 min chart as reference.

The rules that we are going to use are taught (and re-taught and... ) by Saint.

1) Find the trend in 30 min:

To have an uptrend we need both, a higher pivot high and a higher pivot low. Vice versa for downtrend.

2) Long Entries.

In this 30 min uptrend, we wait for a 5 min downtrend, upon reversal of which we enter. Stop is the previous 5 min pivot low.

3) Exit.

Is when a pivot low in 5 min chart is taken out.

Kosher?

rkkarnani · #4 9th June 2008, 10:09 PM

Quote:

Originally Posted by jamit_05

Hi,

For the sake of getting sufficient practice I want to trade the 5 min chart, with 30 min chart as reference.

The rules that we are going to use are taught (and re-taught and... ) by Saint.

1) Find the trend in 30 min:

To have an uptrend we need both, a higher pivot high and a higher pivot low. Vice versa for downtrend.

2) Long Entries.

In this 30 min uptrend, we wait for a 5 min downtrend, upon reversal of which we enter. Stop is the previous 5 min pivot low.

3) Exit.

Is when a pivot low in 5 min chart is taken out.

Kosher?

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

satya_pinku2003 · #5 9th June 2008, 10:14 PM

Quote:

Originally Posted by jamit_05

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.

Wow thank you Amit for starting this thread will look forward your post and learn intraday trading

thank you again

Regards
Satya

leo_3455 · #6 9th June 2008, 11:09 PM

Hi Amit and seniors:

The same request as Mr. Karnani. Please always post the chart with the posts. You can post past trades as examples for better understanding.

Thanks and all the best Amit.

Tapaswi.S · #7 10th June 2008, 12:35 AM

Quote:

Originally Posted by jamit_05

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.

Great initiative amit, this would definitely help us in learning Saint’s method to perfection. One request, as already said by rkkarnani please try to add charts where ever possible and convenient to you.

with best wishes

Tapaswi.S

columbus · #8 10th June 2008, 12:59 AM

Quote:

Originally Posted by Tapaswi.S

Great initiative amit, this would definitely help us in learning Saint’s method to perfection. One request, as already said by rkkarnani please try to add charts where ever possible and convenient to you.

with best wishes

Tapaswi.S

Pivot analysis using CAMARILLA method on NIFTY FUTURES.

Resistance.4..............4546
Resistance.3..............4506
Resistance.2..............4493
Resistance.1..............4480

PIVOT.......4468

Support.1.................4454
Support.2.................4441
Support.3.................4428
Support.4.................4388

Todays OPEN=4480,HIGH=4540,LOW=4397 and CLOSE=4467.

freespaceobject · #9 10th June 2008, 01:12 AM

Hi Jamit,
Thanks a lot for starting this thread, I just completed reading thread ( Saint sir's Teach a man fish ... ) I will look forword for this thread....
I have Question I will appreciate if you Answer them.
Can We discuss short team trading in this thread ( Weekly as perspective and daily as trading ) or just intra day?

Thanks,
Pathik

SGM · #10 10th June 2008, 06:17 AM

Quote:

Originally Posted by jamit_05

Hi,

For the sake of getting sufficient practice I want to trade the 5 min chart, with 30 min chart as reference.

The rules that we are going to use are taught (and re-taught and... ) by Saint.

1) Find the trend in 30 min:

To have an uptrend we need both, a higher pivot high and a higher pivot low. Vice versa for downtrend.

2) Long Entries.

In this 30 min uptrend, we wait for a 5 min downtrend, upon reversal of which we enter. Stop is the previous 5 min pivot low.

3) Exit.

Is when a pivot low in 5 min chart is taken out.

Kosher?

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)

And

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

If only intraday,

Then what are the rules for closing the position at end of the day? Are there any rules for re-entry on next day?

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 ... ...

Regards
Sanjay