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Pivot Trading

  • #17,521
  • Apr 20, 2018 7:59am Apr 20, 2018 7:59am
What a week guys. Really amazing to build your account. Even though I committed lots of mistakes this week especially not letting my winners run my equity increased by 202%. Mind you this percentage is like this because I am trading a small account. I keep learning and learning with this thread.

From this week I takeaway a couple of things:

Firstly, letting your winners run. Entering from m15 and exiting from h1 or h4 like recommended by Snail.

Secondly, having a fundamental view + using davit's pivots gives you an additional confirmation. If you are bearish fundamentally on CAD then with the help of location you can build really good trades. I started paying attention a lot more to round numbers too.
  • #17,522
  • Apr 20, 2018 8:13am Apr 20, 2018 8:13am
2 weeks of waiting. Worth it
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  • #17,523
  • Apr 20, 2018 8:14am Apr 20, 2018 8:14am
Quoting josh11
AC area I am keeping an eye on! {image}
Quoting josh11
NC another area I am watch PA at this R161. Have a great weekend everyone {image}
Both levels got a nice bounce! Hope some you grab some pips
Have a great weekend all
  • #17,524
  • Apr 20, 2018 8:39am Apr 20, 2018 8:39am
Quoting el_duende
{quote} Don't often post on FF but entering shorts on AUD/NZD after R100 was broken seemed dangerous to me and go's against the 'normal' pivot rules. Looking at price now I suspect you are in drawdown. I am wondering what made you take the trade there? Is there something i havent seen
El Duende, was not in drawdown as it was closed as shown. Part 2 ended +190. All is on picture. I am open to your questions via PM.
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  • #17,525
  • Apr 20, 2018 9:04am Apr 20, 2018 9:04am
trades this week, closed: eurgbp +293 pips, audcad +98, gbpusd +107, more left open seen on charts
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  • #17,526
  • Apr 20, 2018 9:13am Apr 20, 2018 9:13am
Quoting snail69
{quote} El Duende, was not in drawdown as it was closed as shown. Part 2 ended +190. All is on picture. I am open to your questions via PM. {image}
Thanks Snail69 for the explain
  • #17,527
  • Apr 20, 2018 9:56am Apr 20, 2018 9:56am
Quoting Nostromo
Seeing the request for weekly fib pivots with no time zone issues, here is a very nice pivot indi created by a guy Wyatt https://www.forexfactory.com/showthread.php?t=538297 I took the source and modified it for Davits method and my personal preference (added extra fib levels, de-cluttered it, set colors, moved level markings, made it less obtrusive etc...). As far as I know it works for all time zones. Personally I prefer it as I find the diagonal lines linking the weekly levels on other types of fib pivots too distracting but that's...
Thanks Nostromo, it's a good tool. Im still catching up on the previous posts. Happy weekend guys...
  • #17,528
  • Apr 20, 2018 10:09am Apr 20, 2018 10:09am
A bit of patience, and some follow through.
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  • #17,529
  • Apr 20, 2018 10:48am Apr 20, 2018 10:48am
Closed EU 900+. Closed AU with a little 200 pips. I guess I was too excited. Could hold longer.
Conclusion of this week: I am far far a away from Davit results But I am on the right path. Proper money management and patience combined with pivots will do the job just fine. Working on my emotions. Have a great weekend everyone. Davit thanks for everything.
  • #17,530
  • Edited Apr 21, 2018 12:22am Apr 20, 2018 11:37am | Edited Apr 21, 2018 12:22am
.
Your trade order needs to be in the right place at the right time.
  • #17,531
  • Apr 20, 2018 12:17pm Apr 20, 2018 12:17pm
CJ
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  • #17,532
  • Edited 5:37pm Apr 20, 2018 12:31pm | Edited 5:37pm
Had a great week over 8% and already hit over 10% for the month rest of the month is gravy.
Have good chunk of profitable trades but going to run this next week since I see a potential for greater gains.
I am glad you guys are doing good or only guys who are doing good are posting...two ways to see this.
green pips
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In trading, you have to be defensive and aggressive at the same time
  • #17,533
  • Apr 20, 2018 1:33pm Apr 20, 2018 1:33pm
Equity growth consecutive 2nd month. Thanks Davit for this fantastic method. I used to be a fully technical trader ignored fundis, now I see how to combine the two and expand the key performance boundary.
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One Good Trade
  • #17,534
  • Apr 20, 2018 2:32pm Apr 20, 2018 2:32pm
6.96% return in a week. Not the best, but ok.
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  • #17,535
  • Apr 20, 2018 2:53pm Apr 20, 2018 2:53pm
Started Pivot trading earlier this year.

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April 2018 results so far
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Best regards
  • #17,536
  • Apr 20, 2018 2:55pm Apr 20, 2018 2:55pm
Quoting Davit
Had a great week over 8% and already hit over 10% for the month rest of the month is gravy. Have good chunk of profitable trades but going to run this next week since I see a potential for greater gains. I am glad you guys are doing good or only guys who are doing good are posting...two ways to see this. green pips {image}
You are doing a great job here.

Olufemi
I am more afraid of 100 sheep led by a lion than 100 lions led by a sheep!
  • #17,537
  • Apr 20, 2018 5:34pm Apr 20, 2018 5:34pm
Quoting MrAussieFX
Started Pivot trading earlier this year. {image} April 2018 results so far {image} Best regards
Hi friend that's fantastic gains! Keep up the good job better yet post your winners...
In trading, you have to be defensive and aggressive at the same time
  • #17,538
  • Apr 20, 2018 6:26pm Apr 20, 2018 6:26pm
Hi Davit, it seems a nice system. Just got 3 win trades as my first experience. I will continue to use it. Thanks a lot Davit.
  • #17,539
  • Apr 20, 2018 11:52pm Apr 20, 2018 11:52pm
My first attempt to prepare my trade base on FF calendar

Monday 23/04/18
A lot of news for EU
Forecast results are expected to be relatively the same as last month. If printed negative will be watching EG. Will avoid EU pair before the news as there might a lot of spike.

Tuesday
CAD BOC Gov Poloz Speaks, take about interest rate which is expected to maintain the same. would hold on to CAD position.

AUD if print red expect AU and AC to go north

EUR German Ifo Business Climate
GBP Public Sector Net Borrowing
If both are green as per forecast, then EG may continue as per previous days.

USD CB Consumer Confidence, might be a mover for USD pairs.

In summary, pairs to avoid before the news will be AU, EU, GU, and UC. Will look for the cross pair for trade opportunities.

Wednesday
Bank holiday for Eur. Nzd and Aud

Thursday
EUR Minimum Bid Rate

USD Core Durable Goods Orders m/m and Unemployment Claims
If both are green expect EU to go further south.

Fridays
Lots of news for JPY
BOJ Policy Rate
Monetary Policy Statement
BOJ Outlook Report

JPY no rate hike is expected and the price could have already priced in. So UJ might go further north.

EUR Spanish Flash CPI y/y
Spanish Flash GDP q/q

GBP Prelim GDP q/q

USD Advance GDP q/q

Challenging to trade on Friday as there is a lot of major GDP result release.
  • #17,540
  • Apr 21, 2018 1:22am Apr 21, 2018 1:22am
Quoting Davit
{quote} I have no idea.I play probabilities and honestly don't know future of my trades outcome.Nobody knows either.Point is understanding how probabilities work out with an Edge. This thread is based on many things and probabilities is one major aspect. Technical price patterns aren’t designed to tell us what ‘will’ happen next… Technical methods of any kind, price action included, are not designed to tell us what a market will do next. As Douglas says, they are designed to help us put the ODDS of success in our favor over a SERIES of trades. There...
True. Putting odds in our favor. Especially around levels: DO line, RN, Pivots.
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