Re: Mistakes I made in flow method
I think we were already long on 22nd Jan. above the PH at 1 PM bar's high + filter!!!
"Add" on 23rd / 24th as per my view shall not be done. The price did not reach this value on 23rd. The mkt closed at 5165 on 23rd and opened at 5272,on 24th almost 100 points above the last days closing, not a monstorous gap but a big one, also not visual on the charts as the range during these days were too big and even small candles represented large range!!! The opening high on 24th was 5345 and (this is what I have been doing: adding extra filter after gaps, 15 in case of Nifty, ) the add would not be triggered!!
On 25th we would go long above 12 noon bar +room as that is a valid PH!!
On 28th we go short below the 5 min. opening low. (mark the huge size of the opening candle) but would reverse above the 11 AM high!! All bars till 1 PM have made lower lows on 28th, we use 2 bar funda and go long above 11 AM bar high!! I am sure Saint would consider the 1 PM bar on 28th as trend reversal bar, its an outside bar , and he would advise to go long above the high of this 1 PM bar!!
Hello Alex
Thanks for the thread.
I have a suggestion for improving our understanding of the flow methods ...
We should select a period from historical data and discuss the signals generated form back test ...
Lets start with 60 Min Flow method, one of the challenging period I found was a week after the Jan 08 Fall, i.e. 23 Jan 2008 to 31 Jan 2008.
Thanks
Thanks for the thread.
I have a suggestion for improving our understanding of the flow methods ...
We should select a period from historical data and discuss the signals generated form back test ...
Lets start with 60 Min Flow method, one of the challenging period I found was a week after the Jan 08 Fall, i.e. 23 Jan 2008 to 31 Jan 2008.
Thanks
Code:
Sr. Date Flow Entry SL Add1 Exit
7 23-Jan-08 Long 5130 4916 5342 5095
8 24-Jan-08 Short 5095 5373 5375
9 25-Jan-08 Long 5373 5253 5161
10 28-Jan-08 Short 5161 5385 5385
11 29-Jan-08 Long 5385 5205 5205
12 31-Jan-08 Short 5205 5283 5150
"Add" on 23rd / 24th as per my view shall not be done. The price did not reach this value on 23rd. The mkt closed at 5165 on 23rd and opened at 5272,on 24th almost 100 points above the last days closing, not a monstorous gap but a big one, also not visual on the charts as the range during these days were too big and even small candles represented large range!!! The opening high on 24th was 5345 and (this is what I have been doing: adding extra filter after gaps, 15 in case of Nifty, ) the add would not be triggered!!
On 25th we would go long above 12 noon bar +room as that is a valid PH!!
On 28th we go short below the 5 min. opening low. (mark the huge size of the opening candle) but would reverse above the 11 AM high!! All bars till 1 PM have made lower lows on 28th, we use 2 bar funda and go long above 11 AM bar high!! I am sure Saint would consider the 1 PM bar on 28th as trend reversal bar, its an outside bar , and he would advise to go long above the high of this 1 PM bar!!