Queries From "Teach a Man to..." thread!!

[pattel]

Question for Saint or anyone who is trading with 5 min charts with 30 min as backdrop:


I entered GMR long on july 14th @87.50 and stop loss @ 85.70 - 0.75 = 84.95 (with some room. thanks Saint!) moved SL to 88.4 - 0.75 = 87.65. my SL was hit and i'm out of long. added 87.35 and 89.00 so resulted in no loss and and no gain.

At this point should i revert my long to short? or should i go back to my 30 min chart and look for the change confirmation? please advice little confused here.


I have a general question about what we look for in 30 min and 5 min chart. My understanding is

1. 30 min - Look for it's direction uptrend or downtrend and look for your initial stop
2. 5 min - this is where i draw my trend and identify pivots for trailing stops, once i'm into 5 min chart i don't need to go abck to 30 min chart as long as i'm in the trade.

Did i understand correctly? Not sure if this thread is for this type of trade or just for nifty fut. Let me know if i should post it else where

[Saint]

Originally Posted by pattel

Question for Saint or anyone who is trading with 5 min charts with 30 min as backdrop:

I entered GMR long on july 14th @87.50 and stop loss @ 85.70 - 0.75 = 84.95 (with some room. thanks Saint!) moved SL to 88.4 - 0.75 = 87.65. my SL was hit and i'm out of long. added 87.35 and 89.00 so resulted in no loss and and no gain.

At this point should i revert my long to short? or should i go back to my 30 min chart and look for the change confirmation? please advice little confused here.


I have a general question about what we look for in 30 min and 5 min chart. My understanding is

1. 30 min - Look for it's direction uptrend or downtrend and look for your initial stop
2. 5 min - this is where i draw my trend and identify pivots for trailing stops, once i'm into 5 min chart i don't need to go abck to 30 min chart as long as i'm in the trade.

Did i understand correctly? Not sure if this thread is for this type of trade or just for nifty fut. Let me know if i should post it else where

Yep......understanding correct,my friend.

Basically, 30min gives you a change in trend,you now look at the 5min and get in following that trend.....You are out once pivots break.

You now stay out of the trend opposing the 30min trend.....and get back in once the 5min triggers a reversal back in line with the 30min trend.

Saint

[prabhjeetrana]

Saint are my questions really stupid, you have not answered many of them.

Please take some time to reply to them if you feel

[Saint]

Originally Posted by prabhjeetrana

Hi Saint this is my recent trade in JP Associate that I took and instead of profits I am sitting on losses may be due to faulty technique.

Please have a look at chart below.




Just read in your 60 min. thread that people have been short since 165 that was my initial entry but I later was whipsawed.

Thanks

I am sorry Prabhjeet......but I do not see that pivot high for which you covered and went long.

You are short at 165 and still holding till date.

Saint

[Saint]

Originally Posted by prabhjeetrana

Saint are my questions really stupid, you have not answered many of them.

Please take some time to reply to them if you feel

Prabhjeet,

Human,my friend,.....and tiring fast.

Apologies nevertheless.

Saint

ps:Think you mean it as a 60min Flow trade,......best to post it there.
Here,the queries are about one direction trades....be they swing,position,intraday...but using a higher time frame chart as referance.

[trade.vishal]

Hi Saint,
Following TA since 6months, need guidance. Attached chart of Nifty5mins. I trade whenever stochastics gives a crossover(LONG when blue crosses red line when stoch below 20 and SHORT when blue crosses red at stoch 80above), Am i rite in doing this? Any modifications, suggestions?
I also scan stocks in MS with the criteria mentioned above and try to short/long if the stocks are near support/res. Am i on the rite path? If not, what are the other tools which i can bring in practice to improve my accuracy.
Pls guide.
Vishal

[mahesh2007]

dear saint,

lot of members including me are often wrong in tracing the right pivot's.

For the want of the aforesaid it shall be a a near impossible to implement your methodology effectively and u shall be always continuously bludgeoned with queries.

what about starting a new thread "tracing the right pivots " with several charts-graduating from crystal clear pivots to obscure and ambiguous pivots.

IMHO, 80% of efforts are required for just tracing the right pivots and the rest 20% are for implementing the methodology.

i hope u shall give a consideration to my earnest request.

regards
Mahesh

ps:If a sr. doctor teaches his juniors to effectively diagnose the symtoms of the ailments then they shall turn out to be good physicians.
.... and shall not be knocking the door of your cabin, saying-" sir,sir! see,whether I have diagnosed the right ailment", or
"why this medication is not working on this disease".

[Satyen]

Originally Posted by trade.vishal

Hi Saint,
Following TA since 6months, need guidance. Attached chart of Nifty5mins. I trade whenever stochastics gives a crossover(LONG when blue crosses red line when stoch below 20 and SHORT when blue crosses red at stoch 80above), Am i rite in doing this? Any modifications, suggestions?
I also scan stocks in MS with the criteria mentioned above and try to short/long if the stocks are near support/res. Am i on the rite path? If not, what are the other tools which i can bring in practice to improve my accuracy.
Pls guide.
Vishal

Hi
dear Vishal here in pivot method we try to find out pivots on the price chart and trade accordingly so no stocastic or other indicators plz go thru Teach a man...... there you can find the method to trade using pivots

Regards
Satya

[diamondnerve]

Saint,

As per Gap down rules,
if nifty opens Gap down ,first 5 min. bar rule applies only to immediate next bar i.e Bar going to be formed @ 10:05 or any bar at which the low is broken ,to trigger the short


thanx

[Satyen]

Originally Posted by diamondnerve

Saint,

As per Gap down rules,
if nifty opens Gap down ,first 5 min. bar rule applies only to immediate next bar i.e Bar going to be formed @ 10:05 or any bar at which the low is broken ,to trigger the short


thanx

Hi
diamondnerve although u asked Saint i m trying to share my veiws if u dont mind

5 min rule bit different for different type of trade like if you are trading according to saints 60 min flow and you get a Gap against your position then wait for 5 min bar to form then add your usual filter to high low of that bar nad then trade accordingly

suppose you are long and gap down happens which is below the previos pivot low then wait for 5 min bar to form then add your filter poins to low of the bar now that level becomes reversal point for he entire day if we dont have any new pivot low above that low

but if you are trading intraday then if 5 min bars low not broken quite some time and we have a upmove or ideways consolidation then we may find new pivot lows in 5 min to trade

Hope it clears

Regards
Satya