iCharts Discussions

[sjjhala]

This is a system that is widely followed by the members of a certain well known trading website dedicated to Indian Markets. Saint is fully credited for this system. I strongly suggest that one look it up for oneself.

Sending you that attachments that I got in an email giving a good outline of the system. It is a type of an ORB system...and very effective if the people following it are to be believed.

Kindly do put your ideas on it.

Regards,
Siddhartha

[san77s]

Hi Siddhartha,
Thanks for sharing Saint's System.
You played a big role in my intraday trade success. Heart full thank and wish you to post more to help the beginner and thous who loss in the market to a winning trader.
You posted two file in Saint's system after read the first one my mind get ready to ask the details about Filter but the second post clear the doubt.
Once again i thank for your valuable initiative.

Regards,
Saravanan.

[sjjhala]

I have back tested Saint's system on Nifty Futures, Reliance, Relinfra, Rcom and DLF. Result = IT WORKS.

As for the filter, see attached file.

[sjjhala]

A) It is definitely an ORB system that is finely tuned and refined ORB system with pre-calculated levels for entry, sl and exit.

B) It is a system that makes the task of trading purely mechanical..just like SH's RSEX system.

C) I am a big fan of SH's RSEX system and so am looking at combining Saint's ORB with SH's RSEX. Views / tests on this by the reader is / are openly invited.

[sjjhala]

As per Saint, we are to remain in the trade till the market is open - 5 mins (3.25 pm). If we are long, then we reverse our position only on a lower high lower low or our TSL is hit.

There is another way also. On ORB, it is better to buy in qty (more lots) so that even a gain in the range of 5 to 20 points is GREAT. We can look at booking our profits at this gain. It is assumed that we trade only in the most liquid stocks / futures.

I also back tested using Saint's ORB with SH's RSEX. Result = AWESOME. See for yourself.

Also, using 60 min time frame makes sense as the candle formation is pretty much evident in terms of candle signals and these signals are ALWAYS correct. Even Steve Nisson (the candlestick guy, who introduced Japanese Candles to the Western world) recommends using candle only on 30 mins and above time frame. Saint acknowledges this and so does Jesse Livermore (believed to be the greatest trader and operator of the modern world in his time and even today) has formally put it on record by saying that the most points ( = money) is made by sitting patiently once analysis is done and a trade entered. 60 minute time frame ensures this and also filters out almost 99% of the noise.

One more thing: it is always useful (and Saint recommends) seeing each movement in POINTS ONLY...as a trader, this keeps the emotions (heart palpitations and mental sweating) out..this is very much useful for us as TRADERS. Money according to Saint (and now according to me too) is simply a way to keep score of the success ratio at the end of the day.

[sjjhala]

http://www.traderji.com/technical-analysis/6072-teach-man-fish.html

http://www.traderji.com/equities/21903-going-60min-flow.html

http://www.traderji.com/equities/24457-companion-guide-saints-60-minutes-flow.html

http://www.traderji.com/day-trading-stocks/25065-library-intraday-mini-flow.html

http://www.traderji.com/day-trading-stocks/24071-going-intraday-mini-flow.html

http://www.traderji.com/day-trading-stocks/25102-project-scanning-intraday-mini-flow-thread.html

http://www.traderji.com/technical-analysis/25236-intraday-miniflow-trades-today-saints-method.html

http://www.traderji.com/derivatives/24845-mistakes-i-made-flow-method.html

[dilesh]

hi sjjhala,
Many thanks for posting this Saint's trading system. I am just trying to learn it. Pl. check the foll. and see if I have got it correct or not.

According to this system, on date 26/02/09 we get the First entry in Nifty Future 5 min. Chart only at 15:05 which will be LONG at 2770 and SL will be at 2746.
The First entry has to be taken from the 5 min. chart only, right.
Pl. reply whether this is correct.

Warm regards,
Dilesh

[sjjhala]

Dilesh,

On 26th Feb, the first entry (regardless of time frame of chart, as 5, 15, 30 and 60 all show the first candle as a 5 min candle) was 2738 (low of first 5 min bar - 5 points filter) that would have given at least 8 points (i recommend booking profits in the range of 5 to 20 points in the first trade).

Reversing the position on 60 min tf based on candlestick and break of 1st 5 minute bar high + filter (2757) would have netted another 20 odd points till 15.25 pm.

Siddhartha

[taruntm]

Sid, could you please detail on how you have integrated SH's RSEX and Saints Mini-flow Method?

Also, others, note that the file "Intraday Miniflow by Saint - 30 MIN, 60 MIN TF.pdf" is not valid anymore as Saint removed the 30 min TF altogether from his system, and uses only the 60 min TF.

Some Videos taken during a traderji meet at Kolkata. Saint himself explains his system :

http://rs282tl2.rapidshare.com/files/108945732/587658/4._ASISH_INTRODUCING_SAINT.flv

http://rs132gc2.rapidshare.com/files/108958140/591529/5._SAINT_I.part1.flv

http://rs182l34.rapidshare.com/files/108962684/712008/6._SAINT_II.flv

Cheers

Tarun

[emsenthil123]

Hi guys,

I follow 60 min system of Saint deligently and results are really good, though past 2 months trading in Nifty has yielded not-so-great results but nonetheless did not lead me to loss.

This is the thread to discuss the latest SAR levels here :
http://www.traderji.com/equities/25356-live-discussion-saints-60-minute-flow.html

This system works much better for stocks compared to Nifty. Now they are testing the same method for commodities also.

Sid, one query, you combin RSEX intra strategy and miniflow method? or the RSEX positional strategy with 60 min flow?

Please post your findings. I started doning RSEX 10 min TF recently.

Thanks,
Senthil.

[jyothil]

Please explain about Pivot low & Pivot High in candle stick

[sjjhala]

Dear emsenthil,

A) thank you so much for that link. I really appreciate it.

B) One can combine RSEX for Intra as well as for Positional using Saint's system. RSEX adds to the efficacy of Saint's system. Though I have not tried using 60 min tf with RSEX for positional. If u or n e one has done so, please let me know and post the charts.

[dilesh]

Siddhartha,
Thank you for the reply. I was calculating with Filter of 9. Today I was short at 2630 when First 5 min. bar low 2640-9 was broken. I had kept SL of 2656+9, then trailed it to 2662+9, then 2670+9.

Can you pl. check in your charts with 9 filter and reply whether this would be correct as per the system.

Regards,
Dilesh

[Stockhunter]

Hi Sid - Nice to see you continuing with the gppd work of sharing knowledge.

A small question, how can we use saint for positional? My understanding was its a pure intrday rangebreakout startegy?



Cheers
SH

[emsenthil123]