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Pivot Trading

  • #37,281
  • May 27, 2020 12:45pm May 27, 2020 12:45pm
Quoting Mundo
{quote} Interesting. Mine does not look same as yours. I have used it as is for maybe 4+ years. {image}
There are two ADR indi's with almost identical names, this is the one I am using, the settings may be different also
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 !SM_ADR_Marker.ex4   12 KB | 886 downloads
  • #37,282
  • May 27, 2020 1:39pm May 27, 2020 1:39pm
Quoting bubincka
{quote} Hi Mundo, thanks for your suggestion. I mainly rely upon PA to entry/exit the market, no indicator whatsoever the only exception being ADR H/L for it tells how much price has travelled. Apart from that, all the rest as you say, it's a psychological issue. Best regards and Green Pips, Bubincka
Seems like you have an awful lot of indicators for not relying on them for entry/exit.

It's just that I have seen your charts for a long time now and they are mainly loaded with trades that are entered while its running from you, and almost no entries when heading your bias. Also, seems like you profit at times you believe you should (if not you wouldn't) yet seem to disagree with them later. Just like Davit, we are trying to see how we can help you with that, because like I said you could make a killing if you worked on those aspects. We are just trying to pin down the issue.

Not an attack, I am not perfect with my trades either, one of my issue is that I continue to place trades after I already closed winners only to see them eat up my profits. See we all have our issues and once we attack head on those issues our profit will benefit from doing so, because trading this system does work.
Invest in Life
  • #37,283
  • May 27, 2020 1:40pm May 27, 2020 1:40pm
Quoting Nostromo
{quote} There are two ADR indi's with almost identical names, this is the one I am using, the settings may be different also {image} {file}
Yep there are two in the wild. One with the underscore after ADR is the one to use. The other includes additional information onscreen.

Attached Image
Trade with confidence, trade without fear.
  • #37,284
  • May 27, 2020 1:41pm May 27, 2020 1:41pm
Quoting Nostromo
{quote} There are two ADR indi's with almost identical names, this is the one I am using, the settings may be different also {image} {file}
Same...my ATRPeriod; however, is 14. Default setting and seems to match the ADR indi.
Invest in Life
  • #37,285
  • May 27, 2020 2:08pm May 27, 2020 2:08pm
Quoting Mundo
{quote} ... It's just that I have seen your charts for a long time now and they are mainly loaded with trades that are entered while its running from you, and almost no entries when heading your bias. Also, seems like you profit at times you believe you should (if not you wouldn't) yet seem to disagree with them later... See we all have our issues and once we attack head on those issues our profit will benefit from doing so, because trading this system does work.
Yes, there are times on which I see the market clearly (I'm in the zone) and other times when I'm lost in my biases.

I know there are bad behaviours from myself as a sort of a compulsion to repeat, some of these come from far, some are personality characteristics, still others are mere distractions.

All in all, as someone already said, trading is 80% psychology and I agree 100% with him.
Porta itineris dicitur longissima esse
  • #37,286
  • May 27, 2020 2:31pm May 27, 2020 2:31pm
Quoting bubincka
{quote} Yes, there are times on which I see the market clearly (I'm in the zone) and other times when I'm lost in my biases. I know there are bad behaviours from myself as a sort of a compulsion to repeat, some of these come from far, some are personality characteristics, still others are mere distractions. All in all, as someone already said, trading is 80% psychology and I agree 100% with him.
I think it's 100% psychological...can't take 20% out of it...but I know that is what mainstream teaches.

Just to clear something up, when I said "one of my issue is that I continue to place trades after I already closed winners only to see them eat up my profits." I do tp and reload, but what I was refering to is that I do well beginning of week, enough to not trade rest of month, then I go ahead and continue to trade, only to see my week stressing on bad entries, DD or loss. Something I picked up this month, which I need to correct immediately. Had 900+ in profit only to see a good chunk gone due to continuing to trade. i guess lost in my biases as well.
Invest in Life
  • #37,287
  • May 27, 2020 3:21pm May 27, 2020 3:21pm
Quoting Mundo
{quote} I think it's 100% psychological...can't take 20% out of it...but I know that is what mainstream teaches. Just to clear something up, when I said "one of my issue is that I continue to place trades after I already closed winners only to see them eat up my profits." I do tp and reload, but what I was refering to is that I do well beginning of week, enough to not trade rest of month, then I go ahead and continue to trade, only to see my week stressing on bad entries, DD or loss. Something I picked up this month, which I need to correct immediately....
I'm the opposite. Bad entries in the beginning of each week, great trades Wed-Fri. Guess it makes sense with this system, as prices usually aren't in the 61-78 zone until later in the week.
  • #37,288
  • May 27, 2020 3:40pm May 27, 2020 3:40pm
Quoting Mundo
{quote} Same...my ATRPeriod; however, is 14. Default setting and seems to match the ADR indi.
Yes, I set my period to 5 when Davit did, took me a while to find the post for you :-)

  1. Post 34,715

  • #37,289
  • May 27, 2020 4:13pm May 27, 2020 4:13pm
GA below 85 specially 8450 excellent buy
Could not help myself to share.Been tracking this pair like a hawk!
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In trading, you have to be defensive and aggressive at the same time
  • #37,290
  • May 27, 2020 5:38pm May 27, 2020 5:38pm
Quoting pipmaster77
{quote} I'm the opposite. Bad entries in the beginning of each week, great trades Wed-Fri. Guess it makes sense with this system, as prices usually aren't in the 61-78 zone until later in the week.
I am the same with not the best entries in the beginning of the week. I took UC long around S61, went south to S100 while i was sleeping, was able to get out at a break even before it made a move back toward S100. I like its location as a long entry now and will enter with a small lot.

I also entered EU short at R38 and didn't exit when it went against me to R61. Pyschological, I think not wanting to be wrong or taking a loss. Still in the trade short with capital tied up. There is both EUR and USD news coming up that could drive it back in my direction. I appreciate that you guys are willing to give feedback on trading behavior. It is definitely 100% of success.

I am working on understanding how best to see bias. AUD and china relationship is obvious, CAD oil relationship is also obvious. GBP is weak. T can bring any general volatility with wild comments, etc. What is the best pulse you watch? Understanding this better will help to keep me out of non A+++ trades. Thanks Davit, Bubinka, Pipmaster, ppxdf. Appreciate you all.
  • #37,291
  • May 27, 2020 5:40pm May 27, 2020 5:40pm
Quoting Davit
GA below 85 specially 8450 excellent buy Could not help myself to share.Been tracking this pair like a hawk! {image}
also been watching closely - looking like a very good long ... I would say some upset AUD dollar bulls this morning in Sydney.
  • #37,292
  • May 27, 2020 6:08pm May 27, 2020 6:08pm
Quoting pipmaster77
{quote} I'm the opposite. Bad entries in the beginning of each week, great trades Wed-Fri. Guess it makes sense with this system, as prices usually aren't in the 61-78 zone until later in the week.
When there is one of those Cryptosurf low hanging fruit, late week markup then usually trades work out well, especially when closest to WP.

Just like late Friday pairs usually head towards following week WP. For those who will ask Nostromo pivots plots future pivots.

That is what I use it for. That is why at times my best trades are at the beginning of the week. Problem has been that once those trades work out I place another trade...big mistake. Instead I should wait for price to be at key pivots then place trade, which is usually Wed - Fri. Once I get this under control I can get back to trading first two weeks then be done for the month.

Get in, get out, get on with life.
Invest in Life
  • #37,293
  • May 27, 2020 6:26pm May 27, 2020 6:26pm
Quoting Nostromo
{quote} Yes, I set my period to 5 when Davit did, took me a while to find the post for you :-) Post 34,715
Thanks Nostromo. I wonder why his is at 5, I see Cryptosurf has it at 20 mine at 14...we are a mess.

I use it then set Visualization to another tf to not see it because that opening line really bothers me. Wish someone could do one without it.
Invest in Life
  • #37,294
  • May 28, 2020 2:27am May 28, 2020 2:27am
Quoting Mundo
{quote} I wonder why his is at 5, I see Cryptosurf has it at 20 mine at 14...we are a mess. ...
The rational behind 5 as period length is that we trade weekly pivots therefore using value 5 we match exactly a week span.
Porta itineris dicitur longissima esse
  • #37,295
  • May 28, 2020 2:37am May 28, 2020 2:37am
Quoting Davit
GA below 85 specially 8450 excellent buy Could not help myself to share.Been tracking this pair like a hawk! {image}
GC floating around WS100 could be an interesting spot too, main drivers being CAD GDP due tomorrow and fluctuations in oil due to US/China tension escalation.
Attached Image (click to enlarge)
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Porta itineris dicitur longissima esse
  • #37,296
  • May 28, 2020 4:26am May 28, 2020 4:26am
Quoting bubincka
{quote} The rational behind 5 as period length is that we trade weekly pivots therefore using value 5 we match exactly a week span.
Thanks, that would make sense.
Invest in Life
  • #37,297
  • May 28, 2020 10:25am May 28, 2020 10:25am
Again, picking the right pair, making the right entry and then the close is a complete disaster.

It's almost like I'm afraid of making money.

To neutralize the negative emotions that in my case come into play when deciding the exit point, I am thinking of having the close managed by my trade manager at a set TP level and go out for a walk.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADM15.png Size: 52 KB
Porta itineris dicitur longissima esse
  • #37,298
  • May 28, 2020 11:59am May 28, 2020 11:59am
Bad trading week for my self unfortunately, will stop trading now this week for some time for reflection.

Does anyone have a audiobook for trading in the zone, i see its on YouTube but prefer not having my screen open.

Thanks in advance
Craig
  • #37,299
  • May 28, 2020 1:57pm May 28, 2020 1:57pm
Quoting bubincka
Again, picking the right pair, making the right entry and then the close is a complete disaster. It's almost like I'm afraid of making money. To neutralize the negative emotions that in my case come into play when deciding the exit point, I am thinking of having the close managed by my trade manager at a set TP level and go out for a walk. {image}
maybe take off the tdi and angleator from your charts?



PS: Positive critics, looks like you could have made entries earlier. Entries was made @ 50 level instead @ 32?
We obey the structure that results from the market's reaction
  • #37,300
  • May 29, 2020 3:25am May 29, 2020 3:25am
Quoting Egbert
{quote} maybe take off the tdi and angleator from your charts? PS: Positive critics, looks like you could have made entries earlier. Entries was made @ 50 level instead @ 32?
Hi Egbert,

well, every week I think to remove TDI from the chart, then I leave it as it is.

And yes, sometimes my entries are early, however I identified the main issue of mine with the exit, when the price begins to retrace against me more than a certain amount I'm afraid to give back and often I close all positions-

It's all in that "I'm afraid" that I have to work on.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
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