iCharts Discussions

musicjunkie · White Belt Joined: 23 Mar 2007 Posts: 70

Fantastic SH ! You make me Swell with pride Smile

Ah, the old 2 bar confusion, believe me, It took me a while to understand this as well... You see we kick in the 2 bar as we are making continuous LL...LL..LL...LL..WRB..LL..Now in this situation we keep trailing stops as soon as new lows are made, no waiting for the bar to finish etc...we get a new lows say by 7-10pts, move stops....now the moment we fail to get a new low. We stop trailing, now the only way stops would move is a new pivot.

So we did just that, as soon as we stopped getting a new LL, we stop trailing and hold our shorts.

If still in confusion let me know, will try to find some examples...

Regards,
MJ-

Stockhunter · White Belt Joined: 10 Jun 2008 Posts: 193

Clear as crystal .... Razz

you are good at explaining stuff MJ I must commend.. probably a skill acquired after answering so many queries in the past from flow learners like me....

Cheers
SH

Stockhunter · White Belt Joined: 10 Jun 2008 Posts: 193

ok MJ - As I promised, I have a seprate account now to rey out the Flow system with Mini lots.

Trades from today marked on the charts below... I am long though 1 mini nifty lot as per the green line as shown on the chart, SAR at red line.

I was busy afterwards hence saw the EOD reversal later, I couldnt reverse but to confirm to you think the EOD reversal was valid one for people to get into shorts again (original+ add)?

Cheers
SH

musicjunkie · White Belt Joined: 23 Mar 2007 Posts: 70

Right SH, So That Green line was Add 1 For us. Stops at the Red line.
Price didn't get past our pivot (red line) so we are still long.

So just one trade yesterday, add 1 triggered.

So today looks like a big gap down, against us, we wait for the 5min bar to form and reverse below that -20(filter a little larger for gap days). IF the first 60min bar doesn't get past our filter then stops move to the new low of 11 am- F....and so on using mov filter...

If price gaps down and shoots up...nothing to be done...
Best of luck on your virgin trade Smile

MJ-

musicjunkie · White Belt Joined: 23 Mar 2007 Posts: 70

Exiting all trades before close today, dont want any surprises on monday, re- enter first thing in the morning of monday.

Will be out for a few weeks, going on holiday, will try to update here. Otherwise its SH in charge of things.

MJ-

ConMan · White Belt Joined: 06 Aug 2008 Posts: 344

MJ,

So when you start on Monday morning....please do update the charts with entry levels...it will help many of us to start fresh and learn

Happy Holidays!

Anand Rathi

musicjunkie · White Belt Joined: 23 Mar 2007 Posts: 70

Sure will Do.

NORBE_1958 · White Belt Joined: 11 Feb 2009 Posts: 36

MJ it was a verylong wait , finally we can all be in the same boat ,
from Monday, the gapup/down entry point is all clear , only the EOD reversals make me nervous, could be kind to clear this in detail, when exactly does the EOD to be made at 3.15 and also is it due to the break of the pivot.

musicjunkie · White Belt Joined: 23 Mar 2007 Posts: 70

Hi norbe,
Iv explained the EOD reversal a few pages back. Basically it is used ONLY for fresh entries.
So, suppose we are long, we have a pivot low, we move stops. MArket starts to fall and takes out our pivot + filter, we are short now....near the closing there is a recovery, We decide in the last 2-3 minutes. If the price is above or at our pivot level we reverse back to longs.

Same for shorts.

I will be on vacation so wont be able to update regularly, but will try my best. On Monday we need our pivots to be nearby, otherwise entry will be too far away. If that is the case, we will wait for a new PL to form so we can enter long....or short.

Regards,
MJ-

amitrajangulati · White Belt Joined: 27 Jan 2009 Posts: 56

Hi! mj,

Attached is a word document that lists down the rules for the 60 minute intraday and positional trades.

Request you to please go through the same and see if the same is correct. Please do make any changes that are required and upload the same.

Thanks & regards,
Amit

amitrajangulati · White Belt Joined: 27 Jan 2009 Posts: 56

Hi!

For those interested in using Saint's system for trading the daily & weekly charts, please download this file from the following url:

http://www.4shared.com/file/35182569/f5252717/Saint.html

I had made this compilation a couple of years ago. It's in a easy question - answer format.

Attached is a snapshot of the folders that the file has.

Hope this will be useful to all fellow members.

Cheers,
Amit

amitrajangulati · White Belt Joined: 27 Jan 2009 Posts: 56

Hi! mj,

One query please ...

Have observed that the values of the high and low of the 1st 5 min candle in ICharts are different from the values that are shown on the NSE website.

Which values should we consider - ICharts or NSE

Sorry if I am bothering you, but trying to get some doubts cleared.

Thanks,
Amit

musicjunkie · White Belt Joined: 23 Mar 2007 Posts: 70

Hi Amitra!
Great going on the doc file. The 60min rules look great. Just add WRBs and EOD reversal. But even without these the flow is just fine....

In gaps id like to add, suppose we get a long trend up, ending in WRBs next days Gap up and the first bar is a red bar, short the low of the 5min red bar.
Same for shorts, except we dont look at the colour of the bar, just reverse above 5min highs.

Next, the miniflow rules, you see Amrit, the mini flow has gone through many stages, the rules you have uploaded was the initial strategy, now its very different. So the current miniflow rules are not what you have uploaded:). Answering your question there in the file, Saint meant in a blast up move he will add and sit with his entire position and hold it as long as he can.

So you are the one who complied Saints teachings? wow, Iv got to admit, because of that file I started changing my ways and started my journey towards profitability. It is that very file which taught me the basics, now we interact again, Thank You.

Regards,
MJ-

musicjunkie · White Belt Joined: 23 Mar 2007 Posts: 70

The 5min high is a problem yes. What i do is follow icharts high and confirm it with my intraday ticklist that my broker (PIB) supplies. So if we had a trade at 3708 and not at 3710, i will take high at 3708.

Thank you Makhijani for the PM, I will enjoy my holiday Smile

Regards,
MJ-

amitrajangulati · White Belt Joined: 27 Jan 2009 Posts: 56

Hi! mj,

Like they say, the world is really small Smile

Glad to know that the file helped you.

Can I ask you for a favour please ... If you could please list down the latest rules for the mini flow in the same format as in the doc file and upload the same, it would be really useful to all of us.

Thanks and looking forward to interacting with you.

Amit