Trading the 10min with a 30/60min perspective

[kapil123]

Re: Trading the 5min with 60min perspective

MJ,

It is great idea to have a thread like this. And you are doing it pretty fast too.

Cheers

 

[Smart_trade]

Re: Trading the 5min with 60min perspective

Hi, What filter/room were you using in ABAN!!! Please share!!!

Hello RK,

I had used 5 points filter/room in Aban,but I feel 10 points is safer as sometimes the buy/sell quote difference in Aban is 4-5 points.

Best Wishes,Trade Well,

Smart_trade

 

[musicjunkie]

Re: Trading the 5min with 60min perspective

Hello,
Thank you Kapil, could not sleep last night, too curious to know what was the outcome of august. To be honest its difficult, very difficult.

In august we ended 341 in the black
10 trades. 7 winners , 3 losers.
Winners contributed = ++434
Losers contributed (lol) = 93

One day 2 trades took away 66pts
Yes Vin, if we had added to the real winners results would be even better.

 

[kapil123]

Re: Trading the 5min with 60min perspective

Hello,
Thank you Kapil, could not sleep last night, too curious to know what was the outcome of august. To be honest its difficult, very difficult.

In august we ended 281 in the black
10 trades. 7 winners , 3 losers.
Winners contributed = ++404
Losers contributed (lol) = -123

One of the losers took away 96pts
Yes Vin, if we had added to the real winners results would be even better.

Since the outlook is intraday only and we are not trading a always in trade type of system, maybe in addition to using lower and higher pivots as stops, we can use fixed points loss too (only when the pivot is too far away). Thought of this by looking at one looser taking out 96 points.

Cheers

 

[rkkarnani]

Re: Trading the 5min with 60min perspective

Hi Rk,
When trading this system we ask two questions.
First, what our position in 60 mins? this will be our position on the daytrade. (should be clear by now after all the charts)
Second, Has the first Decline in the 60 min uptrend come? as soon as we see a red bar on 60min on which we are long, we start to buy a PH break with filter 5
We are NOT trying to trade every pivot, just trying to buy somewhat near the lows on the decline and ride it all the way up.
We may get stopped out, again,again and again. We shall need to see atleast 3 months of data posted here before we start using this.
More to come after some reactions from members.
So, last few day's losses were recovered following these daytrades.

MJ-

Can you kindly elaborate a bit more on the highlited portion above!! Not very clear to me!!!! ?? When we say, " a red bar on 60 min!!" do we mean a 'down tick or down candle, that closes lower than its open, any other criteria!!!

 

[musicjunkie]

Re: Trading the 5min with 60min perspective

Can you kindly elaborate a bit more on the highlited portion above!! Not very clear to me!!!! ?? When we say, " a red bar on 60 min!!" do we mean a 'down tick or down candle, that closes lower than its open, any other criteria!!!

MMM...ill try my best otherwise we shall take today as an example and trade live with it.
Suppose we have a PH break on the upside on 60min. Naturally we are long on 60 min.
Now what are we doing with our day trade, nothing , so far. We have all up candles till 10am and then when the 11am candle closes its a down bar, a red bar. (start of decline?)
Now that we have the first bar which is red in an uptrend we are ready to BUY on the 5 min.

When we are short on 60min we are looking for one green candle to, after that we get ready to sell short.

MJ-

 

[musicjunkie]

Re: Trading the 5min with 60min perspective

Since the outlook is intraday only and we are not trading a always in trade type of system, maybe in addition to using lower and higher pivots as stops, we can use fixed points loss too (only when the pivot is too far away). Thought of this by looking at one looser taking out 96 points.

Cheers

Uh huh,
actually 2 trades the same day. Im getting convinced not to trade when we see doji's on 60min.
Have a look Kapil. Kindly ignore the bold line in the center, those trades didnt take place.
SLight change Net loss was total 66 not 96, kindly excuse
18th August no t 15th , thank your RK
MJ-

 

[rkkarnani]

Re: Trading the 5min with 60min perspective

MMM...ill try my best otherwise we shall take today as an example and trade live with it.
Suppose we have a PH break on the upside on 60min. Naturally we are long on 60 min.
Now what are we doing with our day trade, nothing , so far. We have all up candles till 10am and then when the 11am candle closes its a down bar, a red bar. (start of decline?)
Now that we have the first bar which is red in an uptrend we are ready to BUY on the 5 min.

When we are short on 60min we are looking for one green candle to, after that we get ready to sell short.

MJ-

A hppothetical situation :
Our last two bars on Tuesday in 6o min chart were red bars!!! We look for red bar today also..... right, now the first bar opens with a down gap and closes down, its a 5 min. bar we ignore it....right, but as previous bars were red too, do we consider it and wait for a PH high to break in 5 minutes??

If we ignore previous days movement and wait for a fresh trigger, the 10 am bar closes down a red bar , a 5 min. bar we ignore it and now the 11 o clock bar closes lower than it opens giving us a red bar, so we look for a PH break in 5 minutes and go long with 5 points filter and the previous PL (less 5 points) in 5 minutes as SL....
Is it true that if we consider todays bars only, we have no trade in 5 min. till 11 AM!!!
If we consider yesterdays red bars than we are waiting for first PH break in 5 min. chart right after 10 AM!!!
Any comments shall be welcome, if possible before mkt opens!!!
Thanks

 

[rkkarnani]

Re: Trading the 5min with 60min perspective

Uh huh,
actually 2 trades the same day. Im getting convinced not to trade when we see doji's on 60min.
Have a look Kapil. Kindly ignore the bold line in the center, those trades didnt take place.
SLight change Net loss was total 66 not 96, kindly excuse
MJ-

15th Aug chart attached, Something wrong!!!! 15th Aug was a holiday!!!!

 

[musicjunkie]

Re: Trading the 5min with 60min perspective

correct RK, we will have no trade until 11 am. So we can see the window of opportunity even when it presents itself is very tiny.
But maybe in the end its all worth it. Will post today during mktt hours, next post 11 am!
MJ-