Pivot Trading

You don't get exactly his point Michael. He's talking the total number of Pips based on the amount gain. If you count multiple pips from over 5 or up to 20 positions in smaller lots trade entry, then later posting those running totals in my personal opinion is not a good way of representing your wins to show off. Basically, if you think of your SL and target TP in amount, but you post your this types of running totals is in contrary to how you plan your SL and TP. Anyway, it is just everybody here is using a wrong indicator to count pips.

Thanks for the reply. Then he added short positions from back to 2015? Sorry... but it does not make sense for me.

KWASIA.... Fucking asshole

Agreed nathan. It is much more professional to show your AVERAGE PRICE entry (a function of how many units entered at avg X.XXX price, assuming equally weighted positions). It does no good to flaunt your 1000+ pip gain (other than it sounds good) when really you have 20 positions averaging 50 pips each. Something to consider when posting winners.

Hi Guys
Cannot believe the crap I have just read if people do not like this tread then they have the option to ignore it. Why abuse the people here who believe in it. The Mark is trying to sell his EA as he sent me a link to his fx book. Even if this was true I would not subscribe to him because of his and his mates attitude. I believe in Karma. Give and expect nothing in return as Davit does and you will succeed.

Hi Illucy,

Thought I'd reply to your question as you have provided it fairly well.

Heres is my take on the system and how it works for me. I do not trade it the same as davit and the reason for this is it is a purely discretional sytem using pivots as the "line in the sand".

Lets assume that you open a eur/usd trade, a buy for examples sake. This buy you took based on a price action reaction to your specific line in the sand (lets say s100 again for examples sake).
You take the trade, by opening 1 single position. After this position is opened the price action continues to confirm that, so you open more trades on pullbacks or otherwise generating a full trade. If you have confirmation + price action confirmation warranting more positions, then you have a high probability of success. This trade itself may generate a total of 3-5% return on equity depending on your aggression. Regulating drawdown to 10% is a "safety switch".

Now, lets say that initial position you took, turns sour and looks like shit now. Do you add to it? Of course not, you close it and say "oh well, my line in the sand failed" and you are 1/10 or even 1/20 of a full position. Thus your DD is like 0.1% rather than 10%.

Based on probability and your ability to read price action, only on rare occasions will that 10% figure ever be reached, but it is a possibility, hence safety switch. However, the majority of losses will be peanuts and you won't feel them because you have only taken a partial position and the price action disproved it.


I hope this helps.

very sensible approach

Thank you for drawing this out for me. This clarifies your individual approach, and I hope that anyone otherwise skeptical reads this.

This thread is turning into a joke, please those not interested pass your way.

Anyway there is another great piece from Kathy Lien : http://www.bkassetmanagement.com/fea...ectories_11041


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How to Adjust to the New Monetary Policy Trajectories
Daily FX Market Roundup 06.30.17
By Kathy Lien, Managing Director of FX Strategy for BK Asset Management
What was suppose to be a quiet week in the foreign exchange market turned into an extremely eventful one that saw many major currencies hit new highs against the U.S. dollar. There were a few pieces of market moving data (mostly from the Eurozone), but currencies were driven exclusively by central bank speak. Investors were forced the reassess their positions after Bank of England Governor Mark Carney and European Central Bank President Draghi turned hawkish. The U.S. dollar, which experienced broad based losses was a casualty of the fresh opportunities presented by new monetary policy trajectories. As incoming data confirmed the optimism of central bankers in Europe, U.S. data cast doubt on the Fed’s hawkishness leading to a sharp rise in EUR/USD and GBP/USD.

Fed President Bullard (who is not a voting member of the FOMC) vocalized the market’s concerns when he said the Fed is raising interest rates against a backdrop of relatively weak growth and downside inflation surprises. However Bullard is the minority as many other U.S. policymakers (including Vice Chair Fischer and FOMC voter Dudley who spoke this week) support Janet Yellen’s positive view for the economy. There were some bright spots in U.S. data as well including the uptick in consumer confidence, smaller U.S. trade deficit, stronger manufacturing activity in the Chicago region, stronger confidence and upward revision to Q1 GDP growth.

Unfortunately these reports were not meaningful enough to prevent losses in the greenback leaving investors divided on whether a year end rate hike is truly coming. Before buying what the Fed is selling, they want to see a significant pickup in job growth and stronger average hourly earnings. The next non-farm payrolls report (due on Friday) will be a crucial test for the greenback and a deciding factor in determining whether EUR, GBP, CAD and other major currencies hit new highs. The Fed minutes should be hawkish but NFPs are the main focus. We expect USD/JPY to trade in a 110.50-113 range ahead of the jobs report and to breakout if the data impresses or disappoints in a meaningful way.

Meanwhile the euro is on a tear. It is almost hard to believe that the currency is up 1000 pips or 10 full cents since the beginning of the year. The European Central Bank started the year with an extremely accommodative monetary policy stance and they walking into the second half with a completely different attitude. ECB President Draghi hasn’t uttered the word taper yet but there’s no question that they are laying the groundwork for removing stimulus. The ECB is an extremely calculating central bank that likes to set expectations for major policy changes months in advance so that when the actual change is made, investors have it fully discounted, making the market impact minimal – and that’s what they are doing now. At the very start of last week, Draghi kicked the ball in motion by saying they may change polity to a neutral stance. EUR/USD shot up in response, almost too quickly, prompting the ECB to come out and say that the market misjudged Draghi’s speech. However as he did not confirm this misinterpretation at the central bank panel a few hours later, investors took the ECB’s comments as nothing more than an attempt to slow the rise in the euro. They bid EUR/USD back up in response sending the pair to a 1 year high. As Eurozone data continues to support the ECB’s hawkishness, it won’t be long before 1.15 is in the rearview mirror.

The most surprising shift came from Bank of England Mark Carney who only weeks ago raised concerns about low wage growth. At the ECB forum in Sintra, Portugal this past week, he said “some removal of monetary stimulus is likely to become necessary if the trade-off facing the MPC continues to lessen and the policy decision accordingly becomes more conventional.” These words caught the market off guard and took GBP/USD above 1.30 in a week with no losses. Looking ahead, GBP has 2 things going for it – the first is the BoE’s hawkishness and the second is Prime Minister May’s survival of the Queen’s vote. The minority government narrowly defeated Labour, allowing May to keep her job. Next week’s PMI reports will be extremely important in reinforcing the central bank’s hawkishness and the rise in sterling. If manufacturing and service sector activity accelerates, we should see GBP/USD close above this year’s high of 1.3050.

With USD/CAD dropping to 1.30, many traders are wondering how much further the currency will fall. Like the euro, loonie has the support of data and policy guidance. In mid June, Bank of Canada Deputy Governor Wilkins set the loonie on an upward course when she said they may need to assess whether less stimulus is needed. This past week, Deputy Governor Patterson explained that the central bank is less dovish because they feel that the economic shock from oil is largely behind them. We haven’t heard much from Poloz who had multiple opportunities to address policy so investors interpreted his silence as an endorsement of hawkish views. Yet it may be difficult for the positive trend of Canadian data to continue in light of the big improvements seen the previous month. Canada’s trade, IVEY PMI and employment reports are scheduled for release and we are looking for softer numbers all around. We’ve already seen GDP growth slow in the month of April. So while USD/CAD is in a strong downtrend, we could see a relief rally back to 1.32 in the coming week.

The Australian dollar which climbed to fresh 3 month highs will be in play this coming week. In addition to the latest PMI reports, retail sales and trade balance, the Reserve Bank of Australia also has a monetary policy announcement. When they last met, the central bank expressed concerns about the appreciating currency and weak growth in total hours worked but these warnings fell on deaf ears as investors focused on their neutral policy stance. Going into this month’s meeting, we’ve seen further improvements in the labor market, rally in iron ore prices and stronger Chinese import demand but businesses are nervous, home loans are falling and the trade surplus shrank significantly in the month of April. So the central bank has no reason to change their views and if anything could express greater concerns about the rising currency. With that in mind, there is significant resistance for AUD/USD between 0.7700 and 0.7750. Unlike AUD and CAD, the New Zealand dollar struggled to extend its gains this past week as a smaller trade surplus offset stronger business confidence. With no major economic reports on next week’s calendar, NZD should take its cue from the market’s appetite for U.S. and Australian dollars.
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Not going to waste my time explaining to you since had you really read the thread answers are there and I covered it more them once.

removed

You obviously did not bother reading the thread and you are removed!

you are removed
every trade carries RISK and REWARD!irregardless what system one uses.Every trade has margin set aside!Every position is a singular TRADE!and counted both wins and losses.This is independent of systems!Just facts!

Good thing I am not posting my account's profits because it will attract more idiots!

Cleaning the house!from garbage
Looking forward for Q3

I started this thread with good intentions helping fellow traders and have not taken a dime from anyone for any reason in fact have helped other traders with actual money.
So much garbage lately posted here ironically from countries like India,Pakistan that I am getting little frustrated as perhaps I should just stop and carry on my own in private.Lets face it I am taking time from my family kids on this thread and its taking a toll.
I have to rethink my posting here in general.

Davit you should ignore idiots and move along. Here idiots means losers who have habits to shout often. Keep doing your karma and ignore noise.This is one of the most beautiful thread on FF, carry on please.

Hi Davit,
I just don't get it.

If someone was walking down the street past a shop that didn't sell what this person was after......would they stop and pour abuse on the shop owner for not having their "stuff"?
NO, they wouldn't.....so why is it that idiots feel the need to walk into THIS thread, and pour scorn on You? Why don't they just keep on walking? Unbelievable!!!

Anyway, enough of those negative morons.

Mate, you have come this far....and obviously assisted a large number of traders who appreciate what you are doing....and have done.

Unfortunately, there will always "sadly" be those clowns that just want to spoil the party.
My advice (for what it's worth).....just keep on using that ignore button. It works like a charm.

Good luck to you on whatever your decision is.

Kind regards
Michael

Davit,
You've helped many people with not only a winning strategy but also the development of a winning attitude. Please don't let a few trolls that couldn't cut it in this business derail the best thread on FF.

Davit
You are doing it wrong way! You have started good but finishing bad. Part of your time is going on giving an answare to idiots and inofrmation about that thay are removed. In your place I would not give them any satisfaction of comment just ban without comment. And I would putt one more rule that noone answare to idiots or if they havent read the first page, you just ban out.
BR.

As a sign of r e s p e c t for everyone's time - and especially for Davit's - this is my first post here. I found this thread 3 weeks ago and I have started studying it (now on post 300), along with the many PDFs in the paper clip. Everyone (including those who are already successful with this or another strategy) would do well to read and reread, watch and rewatch all the material here. I'm certain that even Davit rereads his own stuff from time to time. There are several pearls.

So why have I broken my silence? Because I want to tell Davit how grateful I am for his assistance. Please continue. Tune out the noise.

The right a t t i t u d e is crucial to becoming a successful trader.

I know, because I have too many many many mistakes in the past 7 years trading fx. Things got so bad, I am just grateful that - before giving up completely - I found this thread, quite serendipitously, and have begun my r e - e d u c a t i o n.

Please forgive me if, for now, until my b e l i e f s are retooled, I just watch and learn.

Thanks for reading
P

DAVIT , YOU have transformed ME as a person in a very short time. YOU , YOUR ADVICE AND YOUR PATIENCE , have transformed ME into a completely different trader , a successful and far more confident trader , in a very short time.

With a World like the one that we live in today , people like you are so rare that statistical numbers would be incomprehensible for me personally.

DAVIT , YOU are a great person.

YOUR THREAD IS THE BEST THREAD ON THE WEB , PERIOD !!!!

As VICKYM stated , (paraphrase) , "let's not give them any attention".

When an idiot posts , the cure is one word and without comment or explanation , "removed".

Let's all continue to discuss trading , we are successful traders who help one another everyday. Failure is not in our vocabulary.
Sincerely , to all traders who are fortunate to be permitted to subscribe to this thread ,
"green pips to all"
GreenEarth

People, how you get this charts and data long term, is this myfxbook?