Saint's Pivot Method put to practice.

[SGM]

Hello Saint

Does a strong rally on 30 minutes breaking out the previous Pivot High without printing a higher pivot low qualify for a change in the trend on 30 minutes?

My view, As long as one is consistant in the choice he makes it should work out fine.

Hello Amit

May be this rule would help ......

1. When in doubt, stay out

Regards
Sanjay

 

[beginner_av]

Hmm, good question. May be you dont trade if you dont get a favorable pivot, but then I am not Saint, neither have I read/studied the method. He is the best person to reply. But for any trading it is about identifying favorable setup and waiting for it to play out.

May be this rule would help ......

1. When in doubt, stay out

Regards
Sanjay

This part is what attracted me to this thread/post. My problem is:

I am always in doubt. So the end result as per this should be:

I am always in doubt
So I am always out!

All the best,
AV

 

[SGM]

This part is what attracted me to this thread/post. My problem is:

I am always in doubt. So the end result as per this should be:

I am always in doubt
So I am always out!

All the best,
AV

Well Abhijit, now that we know what attracts you, so next time we want to attract your attention ...................

Cheers
Sanjay

 

[beginner_av]

Easier than that, ask CV to be online. NOTHING else attracts my attention better.

 

[Smart_trade]

Hello Saint

Does a strong rally on 30 minutes breaking out the previous Pivot High without printing a higher pivot low qualify for a change in the trend on 30 minutes?

My view, As long as one is consistant in the choice he makes it should work out fine.

Hello Amit

May be this rule would help ......

1. When in doubt, stay out

Regards
Sanjay

I think this point needs to be put to rest.Strong rally on 30 min which takes out 30 min pivot high without printing a higher pivot low makes the rally pretty strong.And if we dont include this scenario then we will be looking to short every 5 min pivot low break in a strong upmove instead of buying every break of 5 min pivot high and we will be leaving initial 100 nifty points on the table. However as Saint has developed and traded the system,he will have the final say.Anything consistant should give good results.

Just an additional input a similar swing trading system developed by Robert Krauz considers taking out 30 min pivot high without establishing lower pivot low as a swing and trend change. We look forward to Saint for the final verdict.

 

[Saint]

Hello Saint

Does a strong rally on 30 minutes breaking out the previous Pivot High without printing a higher pivot low qualify for a change in the trend on 30 minutes?

My view, As long as one is consistant in the choice he makes it should work out fine.

Hello Amit

May be this rule would help ......

1. When in doubt, stay out

Regards
Sanjay

And that's key,Sanjay........sticking to the plan is vital.Few stops when hit can get frustrating,but sticking to the plan is crucial.

And yes,Sanjay..........breaking a previous pivot high on the 30 only ends the previous downtrend.A sideways move after that or a mild decline forms a higher pivot low.New highs from there is a confirmed uptrend.

But the trade is off the 5.........the 30 negating its previous downtrend is strength enough for me to think long and forget shorting for the day.Now,am looking for a pivot high break on the 5,which we got,entered and was stopped out.

But your way is still probably the best way,at least in the beginning......In the intermediate phase where the downtrend gets negated and the uptrend is yet to be confirmed,"in doubt,stay out!"

Saint

 

[Saint]

Hmm, good question. May be you dont trade if you dont get a favorable pivot, but then I am not Saint, neither have I read/studied the method. He is the best person to reply. But for any trading it is about identifying favorable setup and waiting for it to play out.



This part is what attracted me to this thread/post. My problem is:

I am always in doubt. So the end result as per this should be:

I am always in doubt
So I am always out!

All the best,
AV

lol .......don't think anyone in this forum buys that one,my friend.

Saint

 

[SGM]

And that's key,Sanjay........sticking to the plan is vital.Few stops when hit can get frustrating,but sticking to the plan is crucial.

And yes,Sanjay..........breaking a previous pivot high on the 30 only ends the previous downtrend.A sideways move after that or a mild decline forms a higher pivot low.New highs from there is a confirmed uptrend.

But the trade is off the 5.........the 30 negating its previous downtrend is strength enough for me to think long and forget shorting for the day.Now,am looking for a pivot high break on the 5,which we got,entered and was stopped out.

But your way is still probably the best way,at least in the beginning......In the intermediate phase where the downtrend gets negated and the uptrend is yet to be confirmed,"in doubt,stay out!"

Saint

Hello Saint

Thanks for providing the fog-lights

Amit's trading rules state that he would scale-in (adds) with every new pivot high on 5 mins, also he is planning to carry the position over night.

Carrying a position (with adds), just on the back of 5 minutes without a clear trend on higher time frames (higher PHs and PLs) seems risky to me. Besides that we also have to cope with these gaps.

On a day like today where we might have a gap against the position that will set us back by quite a few days/weeks of points collected. (have we any

It seems the confusion comes more from not having clearly defined trading rules that cover all scenerios rather than the doubts created while reading the price action.

As you have been always saying

Baby Steps, First learn to Walk ....... and maybe then try to Run .......

Thanks for your Patiance.

Regards
Sanjay

 

[SGM]

I think this point needs to be put to rest.Strong rally on 30 min which takes out 30 min pivot high without printing a higher pivot low makes the rally pretty strong.And if we dont include this scenario then we will be looking to short every 5 min pivot low break in a strong upmove instead of buying every break of 5 min pivot high and we will be leaving initial 100 nifty points on the table. However as Saint has developed and traded the system,he will have the final say.Anything consistant should give good results.

Just an additional input a similar swing trading system developed by Robert Krauz considers taking out 30 min pivot high without establishing lower pivot low as a swing and trend change. We look forward to Saint for the final verdict.

Hello Raju

Once it is put to rest in Our Mind, then there is no confusion, both are valid ways of trading.

Maybe we would look into past data for guidance and consider the probability based on previous occurances.

Maybe we take a jugement call when we frame the rules and decide which is the best way for us.

Saint has already given out what works for him, many times over ...

Regards
Sanjay

 

[SGM]

Hello Amit

Can we have a look at your current "Trading Plan" or written set of rules that you are currently using.

Regards
Sanjay