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Pivot Trading

Quoting Davit
Closed GC +364 another badge! This is classic example of maximizing from a trade.Get out wait for bounce get in.Not easy to do but doable and I do it often.In fact I did it in just about every trade I took this week.Hammering those bounces until swing is exhausted. If you have sharp observation you can see the value in this post.... {image}
surprised no likes on this post yet.Its not about me making money its about maximizing from a swing.Think about this post and find the small waves in the swing over the weekend.I'll see you guys later!make lots of
In trading, you have to be defensive and aggressive at the same time
Quoting mubinirl
I have gone thru a lot of systems in the last 8 years & forums run by forex-gurus but after some time they all die down & by the end you cannot make head from tail as the system evolves so much & everyone is coming up with their own indi's & theories. This is by far the most original & organic forum I have come across & also a very humble person. Thanks Davit !
I do your words of mine, I have also been around, but this is the system that most I identified for its simplicity, as Davit says read page 1.
Thank you for opening my mind.
And for participating in this fórum.
"The freedom of the other extends mine to infinity"
Quoting Davit
1) As price travels progressively away from weekly pivot it becomes more likely to go into correction.
2) 61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal)
3) 100R/S another major zone. Should price smash 100 S/R then you are in strong trend supported by fundamentals.
Three things to remember. As noted by this weeks PA in the DOW. Price failed at each level, retested the WP and went onto free-fall blowing past S100.

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Trade with confidence, trade without fear.
Did well on these pairs, and unfortunately AudNzd was a 150 pip loss for me,,
as not often on Computer while travelling_
Taking a break from Over-Trading has been really beneficial
and especially staying away from Fantasy Auto-Robots and (X29)Multi pairs
wrongly thinking that the more pairs traded and the more chances to win_
Slowly realizing that currency trading is all about educating ourselves,
having a plan, following it, discard all that is rubbish which don't work_
and of course having a great respect for a Top Man of this forum -Davit-
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The arriving better than the arrival, the journey has just started
Inserted Video

J.S. Bach: Prelude in C Minor "pour le luth" BWV 999; David Tayler, archlute
In trading, you have to be defensive and aggressive at the same time
I am very happy because we found this thread and our very good and patient friend Davit.
I am sure that the greatest satisfaction and joy that can come from this thread, is only when his students are endeavoring to observe clearly-defined rules, but also by the good results in the end, determined by their correct application .
A simple, pragmatic and efficient system that leaves no room for interpretation ... that we found here after many years of searching. Thanks again, darling Davit.
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I am aware that I have more to learn, but at least this result clearly shows me where I am.
The road to success is always under construction !
Quoting Davit
https://www.youtube.com/watch?v=Fnpa...h5TTqI&index=2 J.S. Bach: Prelude in C Minor "pour le luth" BWV 999; David Tayler, archlute
Definitely good music to trade by. The complexities that make up the whole. I play this when I am setting orders each Sunday. Spinning the web. Wondering how many bulls and bears will die next week.

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If you are good at something, never do it for free--Joker
Jen im Very Happy U found ur fx_Grail , like Davit said " just know a few pairs AND know them well " = done travellin ?
da n0o0b + $hit_Disturber
Quoting Opayq
DISCIPLINE CAN GET YOU PIP$ If you can dream it you can do it ... Five fundamental truths: 1. Anything can happen. 2. You don’t need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique. – Mark Douglas 61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken...

WHOA! You withdrew 55K!!
Hi guys thanks for your support and lets have very green end of the month week!

1st tone of the canvas market sentiment.

Trump tariff threat on China rocked the markets last week.Judging his administration comprise after threat of tariffs exemptions were made on Mexico, Canada,EU Argentina, Australia, Brazil and South Korea its very likely Trump will tone down the rhetoric and instead of 25% duty tax on Chinese goods scale down to modest level.
We are going into relatively uneventful week and in my view overbought GBP, Euro and the Yen are poised for corrections.
As noted market scared on proposed tariffs on China send money flowing into "save heavens" mainly GBP, Euro and Yen however I personally think this is temporary and corrections very likely here. EC EA GC GA prime candidates however Yen could play major correction as well specially on AJ CJ UJ.

Tues
CB Consumer Confidence very green here might lift the USD specially against UJ which is in free fall.Probably scaring the crap of Japanese economists who need weaker Yen for inflation and to be competitive in export heavy Japanese economy.Any good news on Chinese tariffs might shoot UJ up.

ANZ Business Confidence
Red numbers will boast AN up and in my view this pair is oversold.

Weds
USD Final GDP q/q forecast is slight positive and if prints green I look for UJ no bounce higher.Overall might work into Euro and GU corrections

Thurs
GBP Current Account-Red numbers again will help infuse new blood selling off GBP

Friday
uneventful which to me means profit taking closing books so what may have started on Weds Thurs may continue on Friday.
Note in my experience before a major holiday markets can push one currency or two really hard be mindful.Easter weekend.

Trade smart and safe! Make
In trading, you have to be defensive and aggressive at the same time
Hello Davit,
First off thank you for such a simple,logical, and intuitive way to trade. Your system as you mentioned on your first post lines up with my harmonic indicator that I use also. I'd like to point out an interesting fact that others may or may not already be aware of: whenever I have randomly typed in a page number on this forum and found a chart, I went back to MT4 and loaded the charts and replicated the pivots (I can't do anything about the Angleator), Loaded harmonics, Looked at the 61.8 level that I target of most of the corrective swings of a Harmonic pattern and what do you know??? Over 80% of the time they line up with the trades on this system and do even better since with the Weekly Pivots the correction can go well beyond the 61.8 retrace.

I would like to ask a question though that I haven't really found a clear answer to though, I read post 15773 by Jester_73, which has to do with lot sizing and risk.
I'm not asking anyone to do the work for me (give me the answer and I can only do it once, teach me and I can do it indefinitely).
How does one go about determining the swing, risk, and lot size. For me I have a $10k account. I determine my risk to be a conservative 1% per trade/pair. The first post mentions trade lower ADR pairs. Lets say I pick a pair with a nice round 100pip ADR. The price is sitting at say a support of 78 and PA shows it to be primed for a UPWARD move. Now if I am targeting the 38 Resistance line (good Resistance built up there on the left) and it's 250 pips away. How would you do the math to figure out how many lots/lotsize to trade.

I honestly hope this is not a stupid enough question to get me kicked, because I think it's important to know how much to put on the line and when. Failing to understand the investing in small swings I have been placing say .5 lots ($100Risk/ 20pip SL) at the S78 and then letting it all ride to my TP or crashing and burning when it hits my SL.

Thank you
Quoting theone964
Hello Davit, First off thank you for such a simple,logical, and intuitive way to trade. Your system as you mentioned on your first post lines up with my harmonic indicator that I use also. I'd like to point out an interesting fact that others may or may not already be aware of: whenever I have randomly typed in a page number on this forum and found a chart, I went back to MT4 and loaded the charts and replicated the pivots (I can't do anything about the Angleator), Loaded harmonics, Looked at the 61.8 level that I target of most of the corrective...
hey theone964.... IMO the way Davit does the risk is probably the simplest and best[i'll let him answer this] .... but if u want to do it on a trade by trade then u have to find the pip value ..... use for example [there r many] this https://www.fxpro.co.uk/trading/calculators/pip ....... that way u dont have 2 worry about the base quote currency etc just select from the calculator..... once u have the pip value then its simple to find the total risk ....... remember[!!!] the risk is what u could loose

"Over 80% of the time they line up with the trades on this system...."
this is not surprizing cause ur looking at winning charts and measuring in basically the same way

"....simple,logical, and intuitive way to trade."
read this https://www.forexfactory.com/showthr...8#post10904938

GL buddy
Quoting griffinssoul
{quote} hey theone964.... IMO the way Davit does the risk is probably the simplest and best[i'll let him answer this] .... but if u want to do it on a trade by trade then u have to find the pip value ..... use for example [there r many] this https://www.fxpro.co.uk/trading/calculators/pip ....... that way u dont have 2 worry about the base quote currency etc just select from the calculator..... once u have the pip value then its simple to find the total risk ....... remember[!!!] the risk is what u could loose "Over 80%...
Thanks for the reply but I noticed a massive red flag in your response to my thinking "trade by trade." After watching the videos from the first page I know full well that I need to move to a series of trades approach. So I know that my current method is flawed and will instill the wrong traits of a trader. Thank you though for posting what you did since it was while reading that sentence that all that info finally clicked for me....SERIES OF TRADES if you want to think like a pro.

You are also right about the harmonics lol.

I am just hoping to figure out how to do series of trades because the EA short looks promising (though will have to wait for market to open and see if and by how much it gaps) if PA forms at the R78 or the R100 both those levels mark highs that haven't been seen since before Jan 2016. Targets will be based on what PA reveals but major support looks to be at the R38 and S61. I know for a fact that TRYING TO PREDICT THE PERFECT PLACE FOR A SELL IS GOING TO RESULT IN ME FAILING. Though if i can figure out the series of trades method I can average out my losers with my winners and have a net positive trade that I can ride for profits.
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Quoting theone964
{quote} Thanks for the reply but I noticed a massive red flag in your response to my thinking "trade by trade." After watching the videos from the first page I know full well that I need to move to a series of trades approach. So I know that my current method is flawed and will instill the wrong traits of a trader. Thank you though for posting what you did since it was while reading that sentence that all that info finally clicked for me....SERIES OF TRADES if you want to think like a pro. You are also right about the harmonics lol. I am just hoping...

Don't overcomplicate. KISS. With 10k account, I'd trade 0.02 lots on each node of a fishnet. Would get out at a predetermined loss, say 500 USD.
Remember trading is an art ... which is why Davit excels at it!
E/G-possible reversal , strong Daily support
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A/U-at a strong W1 support level,my opinion Wait.Aud-the most weakness.
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Quoting theone964
Hello Davit, First off thank you for such a simple,logical, and intuitive way to trade. Your system as you mentioned on your first post lines up with my harmonic indicator that I use also. I'd like to point out an interesting fact that others may or may not already be aware of: whenever I have randomly typed in a page number on this forum and found a chart, I went back to MT4 and loaded the charts and replicated the pivots (I can't do anything about the Angleator), Loaded harmonics, Looked at the 61.8 level that I target of most of the corrective...
Hi Theone
Lets start with how much you are comfortable risking because that defines everything

Super conservative 1-2% 10k is 100-200 dollars which equals .10- .20 mini account a pip
lets go with .2 as example
5 positions on a pair is 1 dollar a pip and 100 pip move nets you 100 dollars.Granting you don't have other pairs trading you made 1%
you do this 4-5 times successfully a month will net you 4-5% gain of account which is respectful

Personally I traded .5 lots since 5k account and never looked back but don't go by my example I risk more because to some extend I know more and I want greater gain a month. 5% gain a month is not doing it for me.I need to hit 10%+

Anyway start small and see how you do and most important that you feel comfortable walking away from computer and living your life.What you don't want is getting stressed and staring price all day long because you have over traded.
Anyway position size is depends on experience and risk appetite but industry standard is 2% risk generally most common.

You joined FF last year and my system requires minimum 2yr experience in forex.Honestly if you are a total noob you should not be here wasting my time and others
cheers and good luck
In trading, you have to be defensive and aggressive at the same time
Quoting Alex1055
A/U-at a strong W1 support level,my opinion Wait.Aud-the most weakness. {image}
U/J-long term strong support level on W1
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Good Morning guys

Just a reminder do your calendar events on your own and focus whatever you think its important.
This weekly habit will pay you $$$ longer term and finally graduate you from typical retail loser trader to winner professional.You must think like a professional and act like professional.
Do your homework and if you skip it by laziness I can assure you have big probability to fail in forex which roughly 95% do.
You want to be in that 5% then put more effort be step ahead from the herd.Learn to be in sink with the market.This comes from knowing the market!
good luck
In trading, you have to be defensive and aggressive at the same time
Quoting jenbols
Did well on these pairs, and unfortunately AudNzd was a 150 pip loss for me,, as not often on Computer while travelling_ Taking a break from Over-Trading has been really beneficial and especially staying away from Fantasy Auto-Robots and (X29)Multi pairs wrongly thinking that the more pairs traded and the more chances to win_ Slowly realizing that currency trading is all about educating ourselves, having a plan, following it, discard all that is rubbish which don't work_ and of course having a great respect for a Top Man of this forum -Davit-...
Hi Jenbols

There is a difference when you take loss and when you don't. AN has been ranging for months.I have DD on it myself but don't even think about it.
You must know the pairs well.This is the hardest aspect of trading which comes down to experience.When to fold and when not.
regards and you are doing excellent job
In trading, you have to be defensive and aggressive at the same time
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