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Pivot Trading

  • #13,361
  • Nov 23, 2017 1:52am Nov 23, 2017 1:52am
Quoting BWforex
{quote} Best advise I ever read on FF, good mentor, Trader, Therapist also Psychologist all in one, I do not mind paying for this kind of advises
Thank you and I do have a dedicated hate fan club so not everyone takes me kindly
In trading, you have to be defensive and aggressive at the same time
  • #13,362
  • Nov 23, 2017 1:57am Nov 23, 2017 1:57am
Looking at GU chart with pivots its obvious that the move was to buy not sell at 61S zone
This is why I love the pivots its almost too easy...
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In trading, you have to be defensive and aggressive at the same time
  • #13,363
  • Nov 23, 2017 2:02am Nov 23, 2017 2:02am
Let me share a chart that might be tempting to go long but one should not

Price is not in the zone 61-100 and PA h4 neural but Daily is red.This took me literary 3 seconds to decide not to take this trade.You guys should make logical decisions easily.My template has everything you need to make rational decision
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYDaily.png Size: 39 KB
In trading, you have to be defensive and aggressive at the same time
  • #13,364
  • Nov 23, 2017 2:30am Nov 23, 2017 2:30am
Quoting Davit
{quote} Hi I was looking at your TE and you must change your trading ASAP Interesting that I was buying GU and you were selling...and selling and selling... Take a break! Cleanse your head and start fresh.You must understand market sentiment and actually look where price is going regards If this embarrasses you then let that be a catalyst to change Pivots provide logical places to sell or buy that's what you have to work on {image}
Hello Davit & Thank you for your guidance
i have 3 account and the account on my trade explorer is base on another strategy (not TDI) . it`s a new strategy that i test it from 40 days ago
Life is too short , So keep smiling
  • #13,365
  • Nov 23, 2017 2:51am Nov 23, 2017 2:51am
GN - SL moved to BE, will keep moving profit target if PA is favorable
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Fall seven times, stand up Eight! #GGMU
  • #13,366
  • Nov 23, 2017 3:23am Nov 23, 2017 3:23am
Quoting Davit
Looks like I have a fan club now https://www.forexfactory.com/showthr...1622&page=4179 I'll take it as a complement.What they can't do they hate. Accuse me of doctoring results when I challenge it to prove they hide behind idiotic cartoons and comments.What sadly has become of that mediocre thread!
Why bother. You have your own good thing going on here. Being so bitter and jealous is their choice. One thing I've learned here - do not spend even a second arguing anonymous people in internet. You have considerably large list of ignored people just add another few
  • #13,367
  • Nov 23, 2017 3:47am Nov 23, 2017 3:47am
Quoting AbhijetPandi
First Trade using following rules: 1. PA around R78 2. 20 days ADR above 60 3. TDI cross down Avoided R61 level as FOMC news was due in 1 hour when GU reached R61. Not yet figured out TP logic. Still reading and learning from chart posted in this thread. Its great logic built up and shared by Davit. {image}
Aao mere sher...remove the MAs, they wont help making decisions
Fall seven times, stand up Eight! #GGMU
  • #13,368
  • Nov 23, 2017 6:45am Nov 23, 2017 6:45am
Quoting Davit
{quote} Hi Tekkies Welcome.Could you post your renko indicator I will play with it see how it does.Thank you
Attached File(s)
File Type: ex4 Renko Off Line Chart.ex4   16 KB | 578 downloads
  • #13,369
  • Nov 23, 2017 8:42am Nov 23, 2017 8:42am
Quoting Tekkies
{quote} {file}
Thank you Tekkies for this, please any instruction to follow apart from placing it in the expert/indicator folder?
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #13,370
  • Nov 23, 2017 9:10am Nov 23, 2017 9:10am
You place in MQL4/indicator folder. It is not an expert .
M2 chart will be automatically generated for you.
  • #13,371
  • Nov 23, 2017 10:39am Nov 23, 2017 10:39am
Happy Thanksgiving! Enjoy your time with family
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In trading, you have to be defensive and aggressive at the same time
  • #13,372
  • Edited 11:07am Nov 23, 2017 10:51am | Edited 11:07am
Closed my AC longs.Was holding for real BO north but its not happening and rather use my margin somewhere else.Decent gain
This pair likely to range in tight zone.I often repeat same trade again when price goes down to my initial 1st batch on it. 9670-50 area nice to build longs again.
This is how in most cases I trade rangy pairs. Get out wait for dip then get in again.This technique is essential to maximize income.Example I got out of AU longs but if price drops below where I got out then I may get in again thus ride the trend in swings or waves taking TP at key levels.
So its not about 18 pairs but how you enter and exit on few that you got it right.
Basically I chase the trend or range. Statistically 80% of forex market is in range.Only 20% trending.What sometimes people call trend is actually range on higher TF
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In trading, you have to be defensive and aggressive at the same time
  • #13,373
  • Nov 23, 2017 11:15am Nov 23, 2017 11:15am
What I don't do
I don't like getting in late.Example EU longs now.THe move was at 61S or close to it and now price is more likely then not to collapse and then go into correction thus not high probability set up.This is very different then MA traders or dashboard traders (dashboards are MA based) when you enter a trade irregardless where price is because you are following some dashboard arrows or above some MA PAC (like it has magical powers) then you get burn by price dropping on you.
Stay true to pivot trading and you will become lot smarter trader.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #13,374
  • Nov 23, 2017 11:24am Nov 23, 2017 11:24am
Example of a typical dashboard trust me I have tested many all fail.
Notice top buy is EC however what it does not show or can't show that EC has been ranging for weeks and price just spiked in thin market on minor retail red news.This is likely to drop by Friday.Had you followed this dashboard or similar then you would of picked maybe number 1loser buying top after a news.
To me all great trading is discretionary
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In trading, you have to be defensive and aggressive at the same time
  • #13,375
  • Nov 23, 2017 12:53pm Nov 23, 2017 12:53pm
Quoting lordgbengs
{quote} Thank you Tekkies for this, please any instruction to follow apart from placing it in the expert/indicator folder?
David must give me permission to post here. There is no pivot in what I do.

Heng I don't even understand pivot's
  • #13,376
  • Nov 23, 2017 2:07pm Nov 23, 2017 2:07pm
Quoting Aqvila
You place in MQL4/indicator folder. It is not an expert . M2 chart will be automatically generated for you.
Thank you Aqvila, please where is a good source to read up renko chart, seems not to understand when i try to read . Thanks
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #13,377
  • Nov 23, 2017 5:05pm Nov 23, 2017 5:05pm
Gidday Davit , you have to wonder how 2 charts of same thing same tf etc etc could be so diff ......
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....mmmm...
  • #13,378
  • Nov 23, 2017 5:24pm Nov 23, 2017 5:24pm
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lets see already positive
I will get my head around this, but always can be wrong
  • #13,379
  • Nov 24, 2017 1:20am Nov 24, 2017 1:20am
This one looks pretty good, target is first resistance.
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If you are good at something, never do it for free--Joker
  • #13,380
  • Nov 24, 2017 1:27am Nov 24, 2017 1:27am
you want accuracy? check it out
UJ similar.Good trades are always around the corners
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In trading, you have to be defensive and aggressive at the same time
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