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Pivot Trading

  • #11,461
  • Sep 13, 2017 10:24am Sep 13, 2017 10:24am
GU. Yesterday close my position, for the news, and today reenter again
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  • #11,462
  • Sep 13, 2017 10:26am Sep 13, 2017 10:26am
in my view AN is already in down trend so waiting for decent rally to short this
W pivot would be ideal
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In trading, you have to be defensive and aggressive at the same time
  • #11,463
  • Sep 13, 2017 10:27am Sep 13, 2017 10:27am
Quoting fibo38
GU. Yesterday close my position, for the news, and today reenter again {image}
excellent work and yes folks he counter traded
In trading, you have to be defensive and aggressive at the same time
  • #11,464
  • Sep 13, 2017 12:21pm Sep 13, 2017 12:21pm
Quoting Davit
{quote} Hi Expo colors are not important but indicators are.Thank you
Ok that's why I asked as I'm using the same indicators. I'll stick with regular candles when posting
Pride always comes before destruction.... -Proverbs 16:18
  • #11,465
  • Sep 13, 2017 12:53pm Sep 13, 2017 12:53pm
Quoting dab
{quote} I'm confused as you say you never trade against the trend and that you trade 4h, daily, weekly. EU has been bullish for months yet top of this page your chart shows you have been short EU. I can understand the trade from a pivot point of view but not if you don't trade against the trend.
My reason why i went short on EU was purely technical 1) Divergence 2) Bearish rejection candle at R38 3) bearish pin bar. This in my opinion was enough. It was little aggressive and took a calculated risk on the trade. Once the trade went in my direction i added more orders. I am quite satisfied with the result.

Quoting DHPips
{quote} Hello Davit, I've been lurking your thread for about 6 months, and I want to thank for it, it means a lot for me. Now, I've been starting to trade with live acc for few months, hope this thread would be more active like 2 months before. Hello solecrusader, I want to confirm your sentence above, are you open your position right after breakout of the trend? I found that your positions are not at the top of the trend (most people aiming for). Regards
I usually wait for the previous trend to be broken before entering the trade. Reversals on top of the trend can be usually pull backs.

Here are few of my other open trades
AU i am in both buy as well as sell. I kind of trapped it
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NJ
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UCHF
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NC
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UJ
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  • #11,466
  • Sep 13, 2017 2:30pm Sep 13, 2017 2:30pm
Quoting solecrusader
{quote} My reason why i went short on EU was purely technical 1) Divergence 2) Bearish rejection candle at R38 3) bearish pin bar. This in my opinion was enough. It was little aggressive and took a calculated risk on the trade. Once the trade went in my direction i added more orders. I am quite satisfied with the result. {quote} I usually wait for the previous trend to be broken before entering the trade. Reversals on top of the trend can be usually pull backs. Here are few of my other open trades AU i am in both buy as well as sell. I kind of trapped...
Ahh, I see it
You don't really need those pivot/S/R lines to open your trade right? only using basic PA, breakout and follow the trend.
I found it more stress free than forcing to catch the top trend. Thanks for the reply by the way.
  • #11,467
  • Sep 13, 2017 5:04pm Sep 13, 2017 5:04pm
Quoting Davit
{quote} I personally trade swings Trend? What is and how to define it. Example AN is it still going up or its already in new down trend same on EN and same on EU That's the problem you can easily be stuck on wrong side. When you think in swings pivots help identity them.Think swings not trends Some define trend based on 200MA above up below down however distance between 200MA and price can be over 300-700+pips and in terms of practical trading its useless.See chart 200MA regards {image} {image}
This got me thinking a bit. I've always been horrible with patience to ride a trade out. It always seems i'll be up 200+pips, wake up and find that im stopped out at -50. My equity curve looks more like someones EKG.

I've been reading over and over the PDF (Pivot Trading w/TDI) and noticed the one important tip. You mentioned about the ADR of some of these pairs easily swing 50 pips daily.

So in conjunction with BRN plotted at 50 pip increments I can further isolate entries, TP and SL. Basically setup the trade to make at least 50pips or nothing. Once in profit ill move SL to BE, if price moves beyond each 50pip block, then ill move SL to another 50 pip increment. If it doesn't then ill at least make 50pips.

Kind of like the game of baseball. Instead of trying to hit a home run everytime, just load the bases and bring them in one by one.
Trade with confidence, trade without fear.
  • #11,468
  • Sep 13, 2017 5:33pm Sep 13, 2017 5:33pm
Quoting Cryptosurf
{quote} This got me thinking a bit. I've always been horrible with patience to ride a trade out. It always seems i'll be up 200+pips, wake up and find that im stopped out at -50. My equity curve looks more like someones EKG. I've been reading over and over the PDF (Pivot Trading w/TDI) and noticed the one important tip. You mentioned about the ADR of some of these pairs easily swing 50 pips daily. So in conjunction with BRN plotted at 50 pip increments I can further isolate entries, TP and SL. Basically setup the trade to make at least 50pips or...
I like the general idea but hard and fast 50 pips may not always work. It can vary between different currency pairs so pivot lines might be a good indication or you can be taking part of your position off in profit and letting part run.
Hope for the best, prepare for the worst.
  • #11,469
  • Sep 13, 2017 5:51pm Sep 13, 2017 5:51pm
Quoting dab
{quote} I like the general idea but hard and fast 50 pips may not always work. It can vary between different currency pairs so pivot lines might be a good indication or you can be taking part of your position off in profit and letting part run.
Yeah i try to stick with the majors only that aren't so erratic. I still have the Pivot lines, just use the BRN at 50pip intervals for trade management only.

Something like this:

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It is interesting how price respects these BRN levels as well.
Trade with confidence, trade without fear.
  • #11,470
  • Sep 14, 2017 2:07am Sep 14, 2017 2:07am
Cadjpy it looks good
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  • #11,471
  • Sep 14, 2017 2:21am Sep 14, 2017 2:21am
GJ, attention for the news !!!!
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  • #11,472
  • Sep 14, 2017 6:20am Sep 14, 2017 6:20am
Quoting fibo38
GJ, attention for the news !!!! {image}
and now?
Did you move stoploss?
  • #11,473
  • Sep 14, 2017 6:40am Sep 14, 2017 6:40am
Quoting mmo1991
{quote} and now? Did you move stoploss?
Without sounding like a broken record I repeatedly stated not to trade Hyper pairs.
Stick with majors and low ADR pairs
It takes great deal of experience to nail G pairs specially GJ and overall sentiment is shifting in favor of the pound hence why I have been short on EG for long time.
In trading, you have to be defensive and aggressive at the same time
  • #11,474
  • Sep 14, 2017 6:44am Sep 14, 2017 6:44am
Quoting Davit
{quote} Without sounding like a broken record I repeatedly stated not to trade Hyper pairs. Stick with majors and low ADR pairs It takes great deal of experience to nail G pairs specially GJ and overall sentiment is shifting in favor of the pound hence why I have been short on EG for long time.
Thank for your advice Davit.
Currently I am long GJ, EG short is good deal.
  • #11,475
  • Sep 14, 2017 6:44am Sep 14, 2017 6:44am
so far this month 90-2 and my DD tremendously reduced.
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In trading, you have to be defensive and aggressive at the same time
  • #11,476
  • Sep 14, 2017 6:48am Sep 14, 2017 6:48am
Quoting mmo1991
{quote} Thank for your advice Davit. Currently I am long GJ, EG short is good deal.
GJ could go into correction 200+pips make sure you move stops to protect profits.This pair is very unpredictable.
Focus on AC AN AU NU EU AN lately my favorite pair ranging nicely.
In trading, you have to be defensive and aggressive at the same time
  • #11,477
  • Sep 14, 2017 6:51am Sep 14, 2017 6:51am
talk about power of pivots
Right on the T
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In trading, you have to be defensive and aggressive at the same time
  • #11,478
  • Sep 14, 2017 7:06am Sep 14, 2017 7:06am
Quoting mmo1991
{quote} and now? Did you move stoploss?
yes move BE+2
  • #11,479
  • Sep 14, 2017 7:40am Sep 14, 2017 7:40am
Hi,

Any thoughts on EG?

Thanks
  • #11,480
  • Sep 14, 2017 7:55am Sep 14, 2017 7:55am
Quoting Davit
talk about power of pivots Right on the T {image}
Hi, Davit! You are doing great job, your posts and guidance/suggestions are helping us a lot.
I want to know that how you keep your eyes on Fundamental events? As I understand so far that you have really good fundamental knowledge of currencies which you trade and no doubt this should be giving you more confidence that tecnically and fundamentally you are at the same page.
Do you follow any news channels/news websites/articles before fundamental events to get an idea about that event and than you manage/plan your trades accordingly OR you have really good knowledge about "Fundamental terms" that when they happens and you know that what will be their impact on market so you get yourself ready for that in coming time?
Whatever the case is I need your guidance on fundamental events and fundamental terms that how can I get better knowledge about these and how can I apply these in my trading? Because I am the one who have been ignoring Fundamentals since long time
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