Request for pivot point trading

nitheshnitz · #1 31st July 2008, 12:19 PM

Hi I am new to this Traderji!!!
It is very helpful to traders as well as investors.
I want to know whether pivot point calculation itself will be useful in intraday trading?
If i buy a scrip after crossing the first resistance what is the stop loss for that? Is that pivot level is the stop loss? Sometimes the pivot level is too far from the resistance, at that time what is the stop loss? Pls anybody answer this post

pattel · #2 31st July 2008, 12:35 PM

Quote:

Originally Posted by nitheshnitz

Hi I am new to this Traderji!!!
It is very helpful to traders as well as investors.
I want to know whether pivot point calculation itself will be useful in intraday trading?
If i buy a scrip after crossing the first resistance what is the stop loss for that? Is that pivot level is the stop loss? Sometimes the pivot level is too far from the resistance, at that time what is the stop loss? Pls anybody answer this post

Please go through "Saint's Teach a man fish...." thread where he has explained the concept and he visit "going with 60 min flow" where he posts actual method in practice. Excellent place to start knowing about pivot trading

Ank!t007 · #3 31st July 2008, 12:37 PM

Start From here http://www.traderji.com/technical-an...-man-fish.html

Ankit

EDIT: Ahaa My friend has already posted

biyasc · #4 31st July 2008, 01:22 PM

Quote:

Originally Posted by nitheshnitz

Hi I am new to this Traderji!!!
It is very helpful to traders as well as investors.
I want to know whether pivot point calculation itself will be useful in intraday trading?
If i buy a scrip after crossing the first resistance what is the stop loss for that? Is that pivot level is the stop loss? Sometimes the pivot level is too far from the resistance, at that time what is the stop loss? Pls anybody answer this post

i am trading 3-digit very high volume stocks (price 100-900). basically i look out for last pivot high on 5-minute chart. after a bottom formation on 5-minute chart, if two/three 5-minute bar touch the pivot high, but failed to break out, in that case i mark the pivot high as a solid resistance level. now i buy the stock immidiately after breakout of the pivot high & place a stop just below the pivot high.

i calculate all pivot high levels as round figure. ex. pivot high 578.05 : 579.00.

if price hit 579.05 on 5-minute chart, i will buy it immidiately & will place a stop loss sell order below 578.00, @577.95. in that way my maximum risk for the trade is rs.2+slippage+brokerages. i sell 50% shares around 1% gain & sell the balance shares on every 0.80-1% up move.

but as per saint method, your stop loss should be below the recent pivot low.

regards,
biyas.

sikandar · #5 31st July 2008, 03:36 PM

Quote:

Originally Posted by biyasc

i am trading 3-digit very high volume stocks (price 100-900). basically i look out for last pivot high on 5-minute chart. after a bottom formation on 5-minute chart, if two/three 5-minute bar touch the pivot high, but failed to break out, in that case i mark the pivot high as a solid resistance level. now i buy the stock immidiately after breakout of the pivot high & place a stop just below the pivot high.

i calculate all pivot high levels as round figure. ex. pivot high 578.05 : 579.00.

if price hit 579.05 on 5-minute chart, i will buy it immidiately & will place a stop loss sell order below 578.00, @577.95. in that way my maximum risk for the trade is rs.2+slippage+brokerages. i sell 50% shares around 1% gain & sell the balance shares on every 0.80-1% up move.

but as per saint method, your stop loss should be below the recent pivot low.

regards,
biyas.

biyasc
Can you provide a screenshot pls to understand clearly

sikandar

biyasc · #6 31st July 2008, 03:53 PM

Quote:

Originally Posted by sikandar

biyasc
Can you provide a screenshot pls to understand clearly

sikandar

how to post screen shot, ok, let me try.

biyasc · #7 31st July 2008, 03:58 PM

look at it.

[IMG]

[/IMG]

biyasc · #8 31st July 2008, 04:34 PM

Quote:

Originally Posted by biyasc

i am trading 3-digit very high volume stocks (price 100-900). basically i look out for last pivot high on 5-minute chart. after a bottom formation on 5-minute chart, if two/three 5-minute bar touch the pivot high, but failed to break out, in that case i mark the pivot high as a solid resistance level. now i buy the stock immidiately after breakout of the pivot high & place a stop just below the pivot high.

i calculate all pivot high levels as round figure. ex. pivot high 578.05 : 579.00.

if price hit 579.05 on 5-minute chart, i will buy it immidiately & will place a stop loss sell order below 578.00, @577.95. in that way my maximum risk for the trade is rs.2+slippage+brokerages. i sell 50% shares around 1% gain & sell the balance shares on every 0.80-1% up move.

but as per saint method, your stop loss should be below the recent pivot low.

regards,
biyas.

this strategy works much better with round figure. say, the pivot high is 579.05, then the breakout level is 580.00, if the pivot high is 644.80, then the breakout level is 645.00.

biyasc · #9 31st July 2008, 04:38 PM

Quote:

Originally Posted by biyasc

this strategy works much better with round figure. say, the pivot high is 579.05, then the breakout level is 580.00, if the pivot high is 644.80, then the breakout level is 645.00.

this is just one of my favorite trading strategy. but i do not recommend to anyone to use this method for their own trading. beacuse it is very high risk method & the success rate is much lower. but the winners are much bigger than loosers.

to apply the t.a/pivot method in proper way, please visit SAINT's threads. "teach a man to fish.......", "going with 60 min flow....".

rkkarnani · #10 31st July 2008, 06:07 PM

Quote:

Originally Posted by biyasc

i am trading 3-digit very high volume stocks (price 100-900). basically i look out for last pivot high on 5-minute chart. after a bottom formation on 5-minute chart, if two/three 5-minute bar touch the pivot high, but failed to break out, in that case i mark the pivot high as a solid resistance level. now i buy the stock immidiately after breakout of the pivot high & place a stop just below the pivot high.

i calculate all pivot high levels as round figure. ex. pivot high 578.05 : 579.00.

if price hit 579.05 on 5-minute chart, i will buy it immidiately & will place a stop loss sell order below 578.00, @577.95. in that way my maximum risk for the trade is rs.2+slippage+brokerages. i sell 50% shares around 1% gain & sell the balance shares on every 0.80-1% up move.

but as per saint method, your stop loss should be below the recent pivot low.

regards,
biyas.

Fantastic!!!! Biyas, its almost identical to what i am trying to check historically!!! Your post will be of good guidance in my persuing the ivot Method Intraday.

The Following 3 Users Say Thank You to biyasc For This Useful Post:
learn2trade08 (31st July 2008), maharam1956 (9th August 2008), rkkarnani (31st July 2008)

The Following 5 Users Say Thank You to biyasc For This Useful Post:
Boreas (1st August 2008), deb99891 (2nd August 2008), Reji (31st July 2008), rkkarnani (31st July 2008), sikandar (31st July 2008)