Going with the Intraday Mini-Flow!!
- Thread starter Saint
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- Tags intra day live intraday nifty miniflow miniflow live nifty futures trading nifty intraday trading saint
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BRIEF INTRO:
Intraday Trading is always perceived as the arena of dynamism,speed,small time frames,sophisticated software,technical indicators,and many more grander stuff out there in the market these days.
Precisely the reason that this thread with this particular strategy(which really is nothing much!)is headed the opposite direction.......not that the above cannot make money,but that money is very highly dependant on ME,and one bad day when I had an argument with my wife or the taxman dropped a bombshell at my doorstep,or whatever....is enough to send me hurtling downwards.
I have always felt that one who trades the intraday must have lightning quick reflexes,and be nimble and flexible........well,we got to be nimble and flexible, .......but lightning quick reflexes,no need for it.
I am therefore on the lookout for a strategy that trades probably everyday,although profits may not come in everyday,........where there is much less of ME......in fact,a strategy where there is much less of strategy as well!!
This strategy,as always,shouts out from the rooftops that the greater our involvement is with the trade,there is a chance of greater failures.......We are therefore back to doing and following something where the "I' has to be kept out of the trade.We are back to trading the "NOW",.........
And what that involves is trading less.......being less smart,being less brilliant,keeping things ultra simple and allowing the markets to put money into our pockets.
Saint
Intraday Trading is always perceived as the arena of dynamism,speed,small time frames,sophisticated software,technical indicators,and many more grander stuff out there in the market these days.
Precisely the reason that this thread with this particular strategy(which really is nothing much!)is headed the opposite direction.......not that the above cannot make money,but that money is very highly dependant on ME,and one bad day when I had an argument with my wife or the taxman dropped a bombshell at my doorstep,or whatever....is enough to send me hurtling downwards.
I have always felt that one who trades the intraday must have lightning quick reflexes,and be nimble and flexible........well,we got to be nimble and flexible, .......but lightning quick reflexes,no need for it.
I am therefore on the lookout for a strategy that trades probably everyday,although profits may not come in everyday,........where there is much less of ME......in fact,a strategy where there is much less of strategy as well!!
This strategy,as always,shouts out from the rooftops that the greater our involvement is with the trade,there is a chance of greater failures.......We are therefore back to doing and following something where the "I' has to be kept out of the trade.We are back to trading the "NOW",.........
And what that involves is trading less.......being less smart,being less brilliant,keeping things ultra simple and allowing the markets to put money into our pockets.
Saint
DID YOU KNOW?
I wonder if everyone know this already......for me,it was something new.....something that put money in the pockets without having to be smart about multiple time frames,multiple indicators,candlestix and patterns knowledge and the works.......something so basic that one could trade it,make profits out of it,but not be able to sound very intelligent in a group of daytraders.
Just go back to June 2007.........didn't have the patience to go back even further,and count each day's moves.......Interesting to note though that 56% of the times the day closed in the same direction as the direction of the first bar crack,and just holding a position from 10am to 3:25 pm already puts us in profit territory.
A further 30% of the time,markets close sideways ,and another 14% of the time,markets have broken the 5min bar,and reversed in the opposite direction and closed in the negative if you were to hold till close.
The very knowledge that 56% of the time,markets tend to move in the direction of the first 5min bar crack gives us confidence......we are no more shivering and worrying about probable losses.We have the odds more on our side and want to milk those odds to its end.
Knowing this is great........the sideways pattern is part of trading....But how do we minimise the losses?Is there a way of bringing those 14% losses down by adding another rule?Yes,there is.......bringing down,but in trading,never totally able to eliminate.And we don't mind it one bit,so long as we can bring down the losses,win more than lose,win bigger and lose smaller,and trade the minimum.
More in the next!
Saint
I wonder if everyone know this already......for me,it was something new.....something that put money in the pockets without having to be smart about multiple time frames,multiple indicators,candlestix and patterns knowledge and the works.......something so basic that one could trade it,make profits out of it,but not be able to sound very intelligent in a group of daytraders.
Just go back to June 2007.........didn't have the patience to go back even further,and count each day's moves.......Interesting to note though that 56% of the times the day closed in the same direction as the direction of the first bar crack,and just holding a position from 10am to 3:25 pm already puts us in profit territory.
A further 30% of the time,markets close sideways ,and another 14% of the time,markets have broken the 5min bar,and reversed in the opposite direction and closed in the negative if you were to hold till close.
The very knowledge that 56% of the time,markets tend to move in the direction of the first 5min bar crack gives us confidence......we are no more shivering and worrying about probable losses.We have the odds more on our side and want to milk those odds to its end.
Knowing this is great........the sideways pattern is part of trading....But how do we minimise the losses?Is there a way of bringing those 14% losses down by adding another rule?Yes,there is.......bringing down,but in trading,never totally able to eliminate.And we don't mind it one bit,so long as we can bring down the losses,win more than lose,win bigger and lose smaller,and trade the minimum.
More in the next!
Saint
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