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musicjunkie
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RKM
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Post: #92  Posted: Sat Apr 18, 2009 8:13 pm Post subject: |
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Hi MJ,
The chart you have posted ends at 1.59pm of 17.04.09. It shows triggering of longs but not the EOD reversal to shorts.
Waiting for your detailed response.
Best wishes,
Makhijani
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saikat
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RKM
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| Post: #94 Posted: Sun Apr 19, 2009 7:15 pm Post subject: |
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Hi MJ,
One more question (in addition to the ones I've asked on 17th and 18th) :- Do you pyramid as you add to your positions? Say, do you initially get in with four positions and add 3,2 and 1 along the way or do you follow some other ratio? Or do you simply add the same number each time?
Waiting for your response to my queries.
Cheers,
Makhijani
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musicjunkie
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| Post: #95 Posted: Sun Apr 19, 2009 10:00 pm Post subject: |
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| Quote: | MJ
on 17th why the Pivot Low of 2pm 3441-sf not made the reversal and also the sar is to be HOD+sF am I correct should we have waited till EOD to reverse Is it because we kept the YLOW as SAR ,
second question was EOD made possible because the closing was below the PL of 2pm
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Hi Norbe. 2pm bar, NOT a pivot Low, if the 1500 bar had made a fresh high, say a high of 3520 then yes would have reversed there.
Next on the morning of the 17th we were short. We reversed at 16th 1500 bar pivot. At closing we were trading below it, in other words, the reason to be long no longer exists, hence back to longs with stops at Pivots, or the aggressive ones can take WRB high.
Hope that helped
Regards,
MJ-
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musicjunkie
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| Post: #96 Posted: Sun Apr 19, 2009 10:03 pm Post subject: |
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| Quote: | | MJ, I share the same doubts that Norbe has raised. Also does the rule for a failed break-out bar not apply here (SR being the low of the 12PM bar with filter for today's NF)? |
Good question vthala. No breakout failure there , but i know what you are trying to see.
Basically, we need a breakout above consolidation, stops below the brekaout bar
Scenario2: WE have a PH, and we get ONE clean bar closing above the PH , a healthy close. Then stops below this bar's low. Howver if we have 2 bars or 3 bars trying to break that pivot then stops still at previous PL.
Therefore in the scenario you pointed out, no breakout failure. If not clear please ask again.
Regards,
MJ-
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musicjunkie
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| Post: #97 Posted: Sun Apr 19, 2009 10:06 pm Post subject: |
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| Quote: | Hello MJ,
Thanks for your prompt response. In fact, I see you've posted your trade action for today as well.
1. Let me see if I've understood correctly. For long positions/reversal from shorts, if your PH/TSL is, say, 3450, then you enter/reverse to longs at PH +15, ie. 3465. Similarly, for shorting, if your PL/TSL is 3350, then you actually reverse at PL-15, ie 3335. Am I right?
2. The purpose of the filter is to protect you from getting whipsawed too much and to reverse your direction only when the trend has really changed. Right?
3. Wish you had posted a chart showing your trade today - at which level did you actually reverse to shorts again.
4. As I said earlier, I am still learning how to trade. At present I am using pivot/intraday levels along with a simple chart, but I think I will need something more refined to be able to trade with your kind of precision. |
1. Yes
2. Absolutely 
3. Just entered shorts at whatever price i could get, manual exit and entry to shorts.... Good thing about intraday is that we got in shorts mu8ch before so overall good week still...
4. Im sure you will , very soon.
Regards,
MJ-
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RKM
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| Post: #98 Posted: Sun Apr 19, 2009 10:09 pm Post subject: Waiting for your answers |
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Hello MJ,
My questions are still awaiting your response.
Makhijani
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musicjunkie
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| Post: #99 Posted: Sun Apr 19, 2009 10:10 pm Post subject: |
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| Quote: | Hello MJ,
Few queries....
1. When exactly to play the Gap reversal rule? I thought it was after we hv series of same colour Bars in our favour And I though system sud reverse to SHORT breaking 9th 5 min bar low (minus filter) - as we had 7 green bars the previous day. Yes, the long was taken at much higher level on 8th but still it had all green bars. Another thing - why not applied gap rule on 8th morning itself to reverse to long above 5 min high + filter.
2. query explained in the chart attached - regarding 2 Bar
3. EOD reversal means - trade taken at 15:29 ??
One request - pl post ur charts using candles and not BAR - I simply unable to understand bar chart - just a request...
Regards,
Saikat |
Will explain the gap rules better, TJ has some good posts if i recall correctly.
2 bar is , 2 bars back, meaning we count 2 bars BACK from current bar.
Imagine a vertical move, bar,3,4,5,6 all higher highs, bar 7 makes no high, sidewyas doji bar. Our stops are at bar 7-2 which is bar 5 low. After this bar 8 forms we dont move stops....we keep trailing stops 2 bars BACK until a new high Fails, or we make a new PL, or we get a gap the next day...
EOD taken at 3:28 yes....
Sorry about that, will post candle charts ...
Regards,
MJ-
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musicjunkie
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| Post: #100 Posted: Sun Apr 19, 2009 10:12 pm Post subject: |
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Adds are of equal size each time. So long 5 lots, then add 5 then add 5, all this keeping MM in check, If im adding 5 lots and MM exceeds will reduce until MM breathes a sigh of relief 
Regards,
MJ-
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musicjunkie
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| Post: #101 Posted: Mon Apr 20, 2009 8:34 am Post subject: |
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Hope I haven't missed out any question, IF I have please do re-post it.
One more request, why doesn't someone post bank nifty or aban latest charts. Should be a good learning experience
MJ-.
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RKM
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| Post: #102 Posted: Mon Apr 20, 2009 5:04 pm Post subject: |
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Hi MJ,
1. I think you've covered most of my queries, thanks. But I would like to see a chart covering the last few days' trades to understand better. What I can make out is that perhaps you lost most, if not all, of the gains on the 17th and had to scramble to get into short positions at the end of the day????
2. I don't understand your post to Norbe on 19th -
"Next on the morning of the 17th we were short. We reversed at 16th 1500 bar pivot. At closing we were trading below it, in other words, the reason to be long no longer exists, hence back to longs with stops at Pivots, or the aggressive ones can take WRB high."
There seems to be some mix-up. I thought you went long after the 5 min bar on the morning of 17th and then reversed to shorts towards close of the day. Also, if the reason to be long no longer exists, why go back to longs?
Cheers,
Makhijani
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musicjunkie
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| Post: #103 Posted: Mon Apr 20, 2009 5:22 pm Post subject: |
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Sorry my fault for the mix up.
On 17 we are short, Reverse to longs above 3463 which is the 3pm bar of the previous day. Then we close below that level hence back to shorts.
Why did you think we went long at the 5min bar? 5 min bars are only used when we we open above our stops (incase of shorts)
So sitting with short at say 5000, stops at 5500....next day we open at 5600, wait for the 5min bar to complete then longabove it + filter.
MJ
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RKM
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| Post: #104 Posted: Mon Apr 20, 2009 9:09 pm Post subject: |
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Thanks, MJ, for your reply. Now for the last few days' chart to make it even clearer...
Makhijani
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saikat
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Posts: 317
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| Post: #105 Posted: Tue Apr 21, 2009 1:44 am Post subject: hi |
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MJ,
Thanks.. 2 BAR now clear...
Gap not yet... pl explain whenever u hv time...
One more request.. if possible - can u post - how the system behaved during 12th Jan to 12th Feb 2009 - with candle chart of NF and marking...
I follow mostly price trendline - and that period was a nightmare to me. I was very confused and did many wrong...
No hurry.. whenever you hv time..
Thanks
Saikat
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And I though system sud reverse to SHORT breaking 9th 5 min bar low (minus filter) - as we had 7 green bars the previous day. Yes, the long was taken at much higher level on 8th but still it had all green bars. Another thing - why not applied gap rule on 8th morning itself to reverse to long above 5 min high + filter.
- just a request...
