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Pivot Trading

  • #16,901
  • Apr 4, 2018 6:03am Apr 4, 2018 6:03am
Quoting choco
{quote} Looks like a fantastic way to control risk, I agree, risk is the one thing we all have control over and should be managing it properly to succeed. Do you mind sharing link to the method you use?
hey choco ..... no link cause i made it up myself but like almost everyting in trading its prob been used somewheres else ..... IMO its easy to understand just uses 3 [or wat ever u want] DD bar fractals [Bill Williams] on a month-on-month ...... so like for jan2018 you would get a fractal high then if DD moves passed that u get SL out of whatever trade no matter wat .......
  • #16,902
  • Apr 4, 2018 6:06am Apr 4, 2018 6:06am
Quoting esk1mooo
{quote} Ha, sorry - I was unclear, I meant could you explain a little more about your risk control method with the DD chart? The fractal method you mentioned. Thanks for the above also. I've been trading over 3 years now and reaching the point where I'm starting to feel things click, more in sync with the market and the right price action is becoming obvious. I need to work on a lot of stuff. Constant wheel in motion though and I never expect this to stop. Ben
Ben look @ post above ...... IMO its mega simple method ..... IMO u could even tweak it for week-on-week but i havent tried .....

ur in the zone brother GL buddy
  • #16,903
  • Apr 4, 2018 6:15am Apr 4, 2018 6:15am
A lot has been said about always considering the sentiment before entering a trade, even though price may be 'in the zone'. The amount of data getting released each day/week can sometimes be overwhelming and difficult to follow. I have faced this issue several times and hence came up with my own little way to keep updated with the data and the possible sentiment it may lead to.

This is just a tool based on data outcome; in no way this too can be traded blindly but nevertheless a helpful summarized insight for someone like me. Cheers!
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Fall seven times, stand up Eight! #GGMU
  • #16,904
  • Apr 4, 2018 6:19am Apr 4, 2018 6:19am
Quoting griffinssoul
{quote} Ben look @ post above ...... IMO its mega simple method ..... IMO u could even tweak it for week-on-week but i havent tried ..... ur in the zone brother GL buddy
Thank you!

Ben
  • #16,905
  • Apr 4, 2018 6:21am Apr 4, 2018 6:21am
Quoting zegarek1989
AUDNZD, on two brokers i have others pivots levels, same settings, Davit pivot auto: I dont know which one is correct ? {image}
they r both absolutely correct bro ........ ........ the indi is doing wat it was program for

last time i check the top 50 brokers by [tick] volume have ask price around 50pips difference [low volatility] ....... thats y we trade a zone around privots ......
  • #16,906
  • Apr 4, 2018 7:19am Apr 4, 2018 7:19am
Quoting griffinssoul
{quote} thnx Ben dude! .... it was the master trader Lastingwell that showed me how 2 do this but it took me like 4 ever to finally understand ...... i use a simple fractals management sys on the DD chart to control risk ..... remember wat da man says dudes risk is like 1 of the few things u can control in trade'n GL buddy {image}
It is quite interesting . Can you explain more and if possible share the tool to link Fractacals with equity/drawdown/SL. than you.
Practice makes a person perfect
  • #16,907
  • Apr 4, 2018 7:28am Apr 4, 2018 7:28am
Hi guys
When you exit successful trades don't lose focus on a pair.I often repeat same trade over and over
Example CJ now may provide another go north. EA may as well if it fails to break above the spike 1.6056 .Keep things in focus.
I closed both CJ and EA in nice profits and they both still have trades in them.

CJ price stalling at 38R but H1 H4 red so this might break more south to WP watch for possible longs
notice how beautifully price dropped from 78R (read 1st page on this)
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In trading, you have to be defensive and aggressive at the same time
  • #16,908
  • Apr 4, 2018 7:33am Apr 4, 2018 7:33am
Quoting Davit
Hi guys When you exit successful trades don't lose focus on a pair.I often repeat same trade over and over Example CJ now may provide another go north. EA may as well if it fails to break 1.60 which it has not.Keep things in focus. I closed both CJ and EA in nice profits and they both still have trades in them. CJ price stalling at 38R but H1 H4 red so this might break more south to WP watch for possible longs notice how beautifully price dropped from 78R (read 1st page on this) {image}
Thanks Davit, I was also shorting CJ from R78.
But some posts ago you said to avoid CAD pairs.. hmm...
  • #16,909
  • Apr 4, 2018 7:37am Apr 4, 2018 7:37am
when you ask a 5yr old is price going higher from bottom left to top right obvious answer is yes.
New trend on CJ is north so in essence buying the dips applies and this is classic trend trading.In most cases I like to be in same direction as overall trend.
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In trading, you have to be defensive and aggressive at the same time
  • #16,910
  • Apr 4, 2018 7:39am Apr 4, 2018 7:39am
Quoting zegarek1989
{quote} Thanks Davit, I was also shorting CJ from R78. But some posts ago you said to avoid CAD pairs.. hmm...
to avoid selling the CAD pay attention

CJ long is buying the CAD
In trading, you have to be defensive and aggressive at the same time
  • #16,911
  • Apr 4, 2018 7:56am Apr 4, 2018 7:56am
Many Thanks Davit , nailed it today
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Best Regards SP 14 deals on EA there
  • #16,912
  • Apr 4, 2018 8:00am Apr 4, 2018 8:00am
Quoting esk1mooo
Hi all, Hope you've enjoyed any easter breaks. Back to trading business! I've closed out a few CAD positions with +255. Up 3% for the day. Won't be trading CAD pairs for the rest of the week. I've found a GU trade I quite like. I'm seeing fresh lows with a nice consolidated pullback to the weekly pivot. TDI/Wave looking to point to the downside. I've 8 shorts currently open. I'd like to target untouched lows highlighted to the left. This is what I'm seeing, and thus - trading. {image} Ben
Just sharing trade experiences. Currently 1 & 5 are running through my mind. From being +500 pips on GU before stepping out the office for 30 mins, to being negative -30 odd pips. It all can change in a blink of an eye. Cheers Trump!

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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

Ben
  • #16,913
  • Apr 4, 2018 8:32am Apr 4, 2018 8:32am
NZDCAD watching for shorts

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  • #16,914
  • Apr 4, 2018 8:39am Apr 4, 2018 8:39am
Quoting esk1mooo
Hi all, Hope you've enjoyed any easter breaks. Back to trading business! I've closed out a few CAD positions with +255. Up 3% for the day. Won't be trading CAD pairs for the rest of the week. I've found a GU trade I quite like. I'm seeing fresh lows with a nice consolidated pullback to the weekly pivot. TDI/Wave looking to point to the downside. I've 8 shorts currently open. I'd like to target untouched lows highlighted to the left. This is what I'm seeing, and thus - trading. {image} Ben
Ben, I see GU @ 1.50 in not very distant future.
  • #16,915
  • Apr 4, 2018 9:20am Apr 4, 2018 9:20am
Trading is simple, but it's not easy.

I see many newbies here just trading blindly (like contrarians) when price hits a level.
That's a sure way to get burnt ...

How about reading the WHOLE thread starting with p1?
  • #16,916
  • Apr 4, 2018 9:40am Apr 4, 2018 9:40am
Quoting snail69
{quote} Ben, I see GU @ 1.50 in not very distant future.
Thanks! I've got an exit point should it get there. Currently will play this trade out and move on to the next one.

Ben
  • #16,917
  • Apr 4, 2018 9:50am Apr 4, 2018 9:50am
Maybe EURCAD is good for shorts?

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  • #16,918
  • Apr 4, 2018 10:10am Apr 4, 2018 10:10am
Quoting zegarek1989
Maybe EURCAD is good for shorts? {image}

not yet
  • #16,919
  • Apr 4, 2018 10:27am Apr 4, 2018 10:27am
Quoting zegarek1989
Maybe EURCAD is good for shorts? {image}
not qualified to be on this thread.Read the disclaimer
removed
In trading, you have to be defensive and aggressive at the same time
  • #16,920
  • Apr 4, 2018 10:29am Apr 4, 2018 10:29am
EA+207

Already posted about CJ there you go easy trade...
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In trading, you have to be defensive and aggressive at the same time
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