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Pivot Trading

  • #10,361
  • Jun 26, 2017 5:39am Jun 26, 2017 5:39am
Quoting olisavictor
{quote} Yes i use Davit pivot 3.2 auto.... i believe all are the same it's a mater of preference.
I see, thank you so much for the input.

Everyone lets make more pips this week.
  • #10,362
  • Jun 26, 2017 8:06am Jun 26, 2017 8:06am
Easy 25 pips
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Plan, Prepare, Execute, Repeat
  • #10,363
  • Jun 26, 2017 8:22am Jun 26, 2017 8:22am
good morning guys

NU spiked due to negative data earlier.Still short on this since I think 7322 61R likely to be hit to clear stops and then we might see real correction take place.

Worth looking
NJ
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In trading, you have to be defensive and aggressive at the same time
  • #10,364
  • Jun 26, 2017 9:08am Jun 26, 2017 9:08am
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Plan, Prepare, Execute, Repeat
  • #10,365
  • Jun 26, 2017 9:10am Jun 26, 2017 9:10am
I was late on the entry, but with the run in NZD, thought it would be good for 30-40 pips anyway
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Plan, Prepare, Execute, Repeat
  • #10,366
  • Jun 26, 2017 9:53am Jun 26, 2017 9:53am
quick 20 pips
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Plan, Prepare, Execute, Repeat
  • #10,367
  • Jun 26, 2017 9:57am Jun 26, 2017 9:57am
UC
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  • #10,368
  • Edited 10:55am Jun 26, 2017 9:58am | Edited 10:55am
Disclaimer: I am not long/short NZDUSD

To those of you short NU, ALWAYS keep in mind that any pair may not retrace to your liking in the short term. As you build your positions Davit-style, do not forget how much risk you are putting on the table.

I say this because years ago I fell victim to building these massive baskets of trades WITHOUT really caring about drawdown relative to my account size, which is ultimately a recipe for disaster. It seems like common sense, until you find yourself risking a significant portion of your account when awaiting a retrace.

EDIT: This is not a critique of davit's system. Only wanted to bring up a potential scenario in NU/remind all of us to trade small with risk % in mind.

Trade safe
  • #10,369
  • Edited 10:40am Jun 26, 2017 10:07am | Edited 10:40am
Still Short NU, see the TDI turn to South and will reload another bullet if price touch R61
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Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #10,370
  • Jun 26, 2017 10:09am Jun 26, 2017 10:09am
Interesting !! Goal vs. System...

Inserted Video
Imparo ancora
  • #10,371
  • Jun 26, 2017 10:33am Jun 26, 2017 10:33am
Quoting Chantun
Disclaimer: I am not long NZDUSD To those of you short NU, ALWAYS keep in mind that any pair may not retrace to your liking in the short term. As you build your positions Davit-style, do not forget how much risk you are putting on the table. I say this because I fell victim to building these massive baskets of trades WITHOUT really caring about drawdown relative to my account size, which is ultimately a recipe for disaster. It seems like common sense, until you find yourself risking a significant portion of your account when awaiting a retrace....
With all due respect Chantun......I think you are insulting Davit and the system which works perfectly. "Davit Style" includes trading small as he mentioned a mere 13 hours ago(see attached), over leveraging is basics, and should you find yourself risking a big chunk of your account on a trade (batch or single entry) then you are certainly not ready for this system.

Goodluck and Cheers
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  • #10,372
  • Jun 26, 2017 10:52am Jun 26, 2017 10:52am
Quoting Chantun
Disclaimer: I am not long NZDUSD To those of you short NU, ALWAYS keep in mind that any pair may not retrace to your liking in the short term. As you build your positions Davit-style, do not forget how much risk you are putting on the table. I say this because I fell victim to building these massive baskets of trades WITHOUT really caring about drawdown relative to my account size, which is ultimately a recipe for disaster. It seems like common sense, until you find yourself risking a significant portion of your account when awaiting a retrace....
Hi Chantun
What's you are advising is sound advise to those who trade recklessly without stops.
My system does have stops and I covered this subject over dozen times.Yes building large position and hoping for retrace without cut out point is reciept for disaster and I don't advocate.
What you are assuming and many here who just read few pages here get the impression that's what is taking place and that's the fault of these individuals not the system of ignoring to read the thread. Good luck with TMS and Emmanuel and I see where you got your inspiration

You are removed from here and I can see you will be lot more comfortable with TMS and its pseudo leader.
In trading, you have to be defensive and aggressive at the same time
  • #10,373
  • Jun 26, 2017 11:04am Jun 26, 2017 11:04am
Quoting FxProsper
{quote} With all due respect Chantun......I think you are insulting Davit and the system which works perfectly. "Davit Style" includes trading small as he mentioned a mere 13 hours ago(see attached), over leveraging is basics, and should you find yourself risking a big chunk of your account on a trade (batch or single entry) then you are certainly not ready for this system. Goodluck and Cheers {image}
Hi FxProsper

What I share here is unique. Concept of probability and tackling the Edge. All system threads here at FF cover indicators and entry and exit points none cover probability concept and who moves price.
This is crucial to understand why I insist people to watch Mark Douglas videos.People who understand what I do rip pips at ease and others just come and go.
Cheers and good luck
In trading, you have to be defensive and aggressive at the same time
  • #10,374
  • Edited 11:28am Jun 26, 2017 11:17am | Edited 11:28am
Let me get into little more debt

All good systems have losers.None have 100% winners! Since we don't know which is a loser and which a winner we play the Edge and over SERIES of trades the EDGE will manifest itself.
Does my system have quantitative EDGE? Yes and proof is my account.It has studiedly going up without major dips.


Think in probabilities, not certainties
Perhaps the point Mark Douglas is most famous for drilling into traders, is that you need to learn to think in probabilities.
We did discuss this a little earlier, but its critical to understand that there is a random distribution of winners and losers over series of trades. Traders who learn to think in probabilities do not experience the mental trauma like those traders who havent learned to think in probabilities because they are not expecting a winner on any given trade like those who dont think in probabilities. Learning to think in probabilities releases your expectations from trades because you are focused on the results of the overall series of trades, not on the result of any given trade.

MD

I hope you guy are reading.I see my NU trade no different then any other trade. I am comfortable with its random outcome.Should I have to take a loss I will without hesitation and that will not change anything how I trade.This is just part of trading and I am super comfortable with it.
Lets just say my brain is hard wired to succeed because I know my system piles the pips that overwhelm the losers 80% winning average is pretty consistent.
If you are struggling with this please just leave obviously you did not put work in to it.Try system threads where there are hundreds of systems collecting dust.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #10,375
  • Jun 26, 2017 11:18am Jun 26, 2017 11:18am
Short 1 microlot for EJ, since price action looks good and rebound at R61, however about 1h, 15min left for Draghi speech. Will bail if price action reverse after the speech and add up position if it does goes the right direction
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  • #10,376
  • Jun 26, 2017 11:22am Jun 26, 2017 11:22am
Took longs on gold at extreme s78 after my plan to long at pivot got destroyed. Made a good 500 pips, although some might have seen this as super risky.
  • #10,377
  • Jun 26, 2017 11:34am Jun 26, 2017 11:34am
Hello Davit
EG still at 0.8800 around,just wait or close short position?
Thanks
  • #10,378
  • Jun 26, 2017 11:39am Jun 26, 2017 11:39am
Quoting Takisd
Took longs on gold at extreme s78 after my plan to long at pivot got destroyed. Made a good 500 pips, although some might have seen this as super risky.
In bloomberg, there is a news that today's gold sell off might be a fat finger. S78 held the price good. 1h rejection bars seem fine. I took also buy positions.
  • #10,379
  • Jun 26, 2017 11:57am Jun 26, 2017 11:57am
Quoting MoneyTalks58
{quote} In bloomberg, there is a news that today's gold sell off might be a fat finger. S78 held the price good. 1h rejection bars seem fine. I took also buy positions.


How fat of a finger can that be huh....me thinketh....
  • #10,380
  • Jun 26, 2017 11:58am Jun 26, 2017 11:58am
Thank you n
Davit for everything...amazing stuff you share here
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