Saint's Intraday Miniflow Method

[Duke]

This method has been popularised by Saint in Traderji forum. The method is a small modification of opening range breakout method.

If you are trading this method, please respond so that we can have a lively discussion out here. Why here and not on say Traderji, well, main reason is that TJ is now coming with more rules which prohibit many things and I for one believe that freedom of speech should be available.

[Duke]

Today's Nifty 5 Minute High / Low is

High: 4428.00
Low: 4398.00

Strategy is to Enter (if Price breakouts before 10:30) at High + 14 or Low - 14, i.e.,

Buy using Stop when price crosses 4442 or Sell short using Stop when Price goes below 4384.00

If price breaks High / Low but trade is not triggered, at 10:30, we modify the Entry Points.

For example, currently Nifty went down to 4385 but has not triggered by a single point. If this low holds and we are not having any trigger on either side, we shall modify Short Entry to 4385 - 14 = 4371.00

[Duke]

I have been trading / observing this method and what I have obseved is that after a very good day (Yesterday we had only one short trade in morning and carried it all the way), the next day is normally choppy and better not to take any trades. Ofcourse, thats my personal observation, nothing to say it cannot be another trending day.

[Duke]

The exact rules of this method can be found here,

http://tradersaint.com/method

[Duke]

Long Triggered in Nifty @ Action Rate(4442). Note that Stop and Reverse for this would be today's low - 7 (new Filter) which turns out to 4385 - 7 = 4378 at which point we close the longs and go short.

[Duke]

Number of Positions: Its generally advised to start with atleast 3 positions since then one can book at multiple levels as the market follows the trend. Taking the above (today's) example forward, our first book can be @ 4506. Why 4506?. Well, thats because we are taking a Risk of 64 points at current juncture and it would be prudent to have a minimum of 1:1 Risk - Reward ratio.

[Duke]

1st Position Booked at 4506. Stop moved higher to 10:30-11:00 bar low - Filter (7 Points)

[Duke]

2nd Position sold at 4538 (1: 1.5 RR). SAR is now at 12:30 bar low

[Duke]

Nifty trading in a Zone. SAR moved to 1:00 bar Low.

[Duke]

Closing final postition @ 4560 :)

[Duke]

Nifty First five minute Bar

High - 4645
Low - 4584.90

Long Entry shall Trigger @ 4645 + 14 = 4659
Short Entry shall Trigger @ 4585 - 14 = 4571

Hope for another Good Trading Day :)

[Duke]

Its 10.30 and while we did break earlier high, we did not trigger. This brings the other rule into practise.

Our New Long Entry Point is 4663.85 (4664) + 14 = 4678
Our Short Entry remains same since ealier low has not been broken.

[Duke]

Long Triggered @ 4679. Note that this is a higher risk trade since our Stop & Reverse point is at 4578 which is roughly 100 points away. Our first target hence will be at 4778.

[Duke]

Moving SAR to 12:00 bar Low

[Duke]

Not much movement today. Shall close positions as close to purchase price or sell at EOD or wait for stop to get hit. Either way, loss is minimal while the market consolidates.

[tushar]

U r doing a great job. duke.
Improving your as well as our trades also.
best of luck.

[Duke]

U r doing a great job. duke.
Improving your as well as our trades also.
best of luck.

Thanks tushar. Actually, the reporting is building up my confidence as well :)

[Duke]

Todays Nifty Opening quotes,

High - 4673, Buy above 4687
Low - 4642, Sell below 4628

Yesterday was a dull day. Hopefully today, it will be trending either way :p

[Duke]

Short Entry Triggered. Stop & Reverse currently @ 4680. Risk of 52 points.

[Duke]

SAR triggered. Long now

[Duke]

Yet another SAR. Markets too volatile. Better be out :(

[tushar]

Don't be dissappointed duke. you are doing well. but I think you were too early to hit the stop @ 4680 i.e. days high . Tweak u r system a bit.

[bijovyppil]

yeah Duke...

increase ur filter values...

filters are bound to change as market moves up/down

[Duke]

Don't be dissappointed duke. you are doing well. but I think you were too early to hit the stop @ 4680 i.e. days high . Tweak u r system a bit.

Actually, bit unlucky since that at that point of time was the day's high :(. Hopefully, sticking to strategy with small changes should help.

[Duke]

yeah Duke...

increase ur filter values...

filters are bound to change as market moves up/down

Yep. Trying to figure out if one can calculate optimal filter values using Intraday Volatility Values.

Have to backtest a hell lot before I start burning fingers again. :)

[Duke]

Time past 10:30, time to modify Entry Points.

Long Entry remains the same - 4670 + Filter of 14 Points

Short Entry now is 4638 - Filter of 14 Points.

[Duke]

IIP data was due and after yesterday, did not want undue risks. Did not take the trade and now am better off :D. Will wait for next trigger