Pivot Trading

inspiration trade'n every1 ..... superb results

wish i saw ur post josh .... they slam'd it into the S61 ..... triple bottom easy 50pip'er ...... good call bro

hey PandionFX ...... IMO ur method might run in2 problem long term ...... wat ur say'n is u enter @market on pivot [strong change-of-polarity] for long trade [good ] ..... but u have buy limits *if ur wrong* [???] ...... this could b mega bad cause when u win strong u win only 1 ticket BUT when u lose u lose everyting

IMO trade'n [random] limit grids works better if u have expiration on tickets [walk away trades] ..... also hard TP &SL ..... basically dude its another way of trade'n ......

hope this helps

Thanks.

Hi Buddy nice gains!Keep it going

From "Davit's Philosophy" clipboard

Chapter 23
THE SUCCESS MECHANISM
AND THE FAILURE MECHANISM
We’ve previously discussed the servo-mechanism, the goal seeking mechanism that is inside of all us. We know the servo-mechanism works like an electronic computer to help us reach our goals. But the servo-mechanism can either be a success mechanism or a failure mechanism.
When it is working as a success mechanism, it is helping us to reach the goals we want to help us improve our lives. As you already know, we use our creative imagination to vividly picture these goals, and our success mechanism helps us to accomplish these goals.
On the other hand, if we vividly picture the things we are trying to avoid, the troubles we are having and, in general, our worries, then it only makes sense that we will receive more of the same negative things in our lives. Like we said a little while ago, our servo-mechanism is completely impartial. It takes what we vividly picture and works extremely hard in making those pictures reality.
If you picture positive goals, it will work like a success mechanism and help you to reach those goals. But if you picture negative things (like many people do most of the time), it will work just as hard at making those negative pictures come true, and that is the failure mechanism at work.
An example that Dr. Maltz uses to help you understand the success mechanism is the way a squirrel knows to look for nuts when winter is approaching. You see a squirrel or any animal for that matter has a success mechanism inside them to help with survival. The squirrel does not need to be taught to find nuts for the winter. It is an instinct that the squirrel has inside him to help him cope with the environment. Even a squirrel that is born in the summer (and has never seen winter) knows that he must gather nuts before winter comes for him to survive. This success mechanism inside the squirrel allows him to survive. The only difference in animals and people is that animals do not choose their goals.
But, obviously, man is different. He can and does choose his goals. Man can use his success mechanism in conjunction with his creative imagination to set and reach his goals.
But it is up to you whether you use the success mechanism or the failure mechanism. In regards to trading, if you are constantly making trading mistakes and not acting in your own best interest, then it seems obvious that the failure mechanism is at work. On the other hand, if you are acting in your own best interest and avoiding most trading mistakes, then it would seem as equally obvious that your success mechanism is hard at work.

In Psycho-Cybernetics, Dr. Maltz lists the basic principles by which your success mechanism operates:
1) Your built-in success mechanism must have a goal or “target.” This goal or target must be conceived of as “already in existence now” either in actual or potential form. It operates by either (a) steering you to a goal already in existence, or by (b) “discovering”
something already in existence.
2) The automatic mechanism is teleological, that is, operates or must be oriented to “end results” goals. Do not be discouraged because the “means whereby” may not be apparent.
It is the function of the automatic mechanism to supply the “means whereby” when you supply the goal. Think in terms of the end results and the means whereby will often take care of themselves.

3) Do not be afraid of making mistakes or of temporary failures. All servo-mechanisms achieve a goal by negative feedback or by going forward, making mistakes, and immediately correcting course.

4) Skill learning of any kind is accomplished by trial and error, mentally correcting aim, after an error, until a “successful” motion, movement or performance has been achieved.
After that, further learning and continued success is accomplished by forgetting the past errors and remembering the successful response so that is can be “imitated.”
You must learn to trust your creative mechanism to do its work and not “jam it” by becoming too concerned or too anxious as to where it will work or not, or by attempting to force it by too much conscious effort. You must “let it” work rather than “make it” work. This trust is necessary because your creative mechanism operates below the level of consciousness and you cannot “know” what is going on beneath the surface. Moreover, its nature is to operate spontaneously according to present need. Therefore, you have no guarantees in advance. It comes into operation as you act and as you place a demand upon it by your actions. You must not wait to act until you have proof – you must act as if it is there, and it will come through.

So much wisdom in this book that I find inspirational.When I set my goal of 10% a month I had army of negative people keep mocking me belittling that its stupid setting fix % every month.
Well I did it! and most of times I hit over 10%. Think about this if I set my goal of 5% I would of underachieved.We should have more ambitions goals and visualize those goal as attainable!and REAL
Print those equity curves and clip them on the wall right above your PC so you see it everyday!Have your positive servo mechanism work!

I would of expected little more then "thanks" for very insightful post by Griffinsoul.I hope you understood it.He pointed out same reasons why I don't do limit orders.Its not part of my system.

if you haven't worked out how to extend your fibo tool yet you should have ......

Mega Thanks Davit .... and "Claudia " ( billytt) who gave me the courage to enter multiple trades ...... BUT MAJOR THANKS Davit for the method by which to make it all work

My calendar events next week. (may stop posting these since I expect you do yours.I posted enough examples to see how I approach it)

My canvas tone (sentiment)
We have May 2nd Feds rate day.Market already is gearing up as we saw serious drop on all majors last week against USD.
This may continue.Generally I prefer to trade none USD pairs crosses when market is volatile and uncertain on USD.Uncertain part is has the rate already priced in or there is lot more in the tank.
Lets look at this in clear example. Has NU at 72 priced in the rate? or she could drop to 70 until May 2nd.Hard one to guess and the reason why I prefer crosses.There are actually lot more profitable set ups on crosses then USD pairs in my opinion and lot more predictable.
Note selling USD long term is costly on swap.Something to think about.

Monday
CAD BOC Gov Poloz Speaks-Any dovish sentiment could send CAD lower and crude most likely will drop weakening the CAD further.
I am fundamentally bearish on the CAD against its peers NZD and AUD

AUD-CPI q/q Trimmed Mean CPI q/q green number here would boast AUD specially on crosses like AC AN

Tues
USD-CB Consumer Confidence-green number may fuel more USD buying in light of Feds rate next month.

Weds
BOC Gov Poloz Speaks (see my notes on Monday)

Thurs
EUR Minimum Bid Rate market anticipates no change
ECB Press Conference This could be huge mover specially Euro crosses.I anticipate dovish Draggi since Euro already appreciated a lot without even rate increase or bond buying reduction.
Look for possible spike on EA EN EJ then sell off afterwards

BOJ Policy Rate
Monetary Policy Statement
BOJ Outlook Report wait and see here.-No change is likely both policy and market reaction.

Friday
GBP-Prelim GDP q/q 0.3% 0.4% lets see if this prints red if so anticipate more GBP sell off and last batches of GBP data has been red so there is a pattern here.

USD Advance GDP q/q -projection is red.While this is q/q data, it's reported in an annualized format (quarterly change x4). There are 3 versions of GDP released a month apart – Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact
Could be some profit taking here bounce on majors against USD

GBP BOE Gov Carney Speaks -he is a market mover...former Goldman Sachs guy.Nothing he says is accidental.


I anticipate Euro gain on crosses until Thurs then sell off after.Don't get in early.Keep ECB conference in mind on Euro pairs.
Do your homework! I take this professionally and I expect you do as well or become part of 95% losers!

Green pips!

Griffinsoul and Davit thanks for your insightful comments. I take this as a touching good lesson to stick to the trading rules and not to stray away and be indiscipline after a short success.

Davit's Pivot indicator gives you the option of having the pivots beyond 100 to be shown:

ur welcome buddy ...... hey i was struggle'n wit the same kind of problems back in the day ...... then this dude shows up on the M30 thread & solved the problem 4 me ...... in my book that makes Davit nothing short of a genius

keep going

In my school days I was in love with break dance. I was shocked by some elements and how they are done. It's difficult. Especially for those who know what break dance is. Some elements require total control of your entire buddy muscles and mental concentration. But I was FAT kid. Some of those elements was above my imagination , but I was stubborn. I was beating up myself over and over again practicing that 1 particular move day in and day out. Eventually I accomplished what seems to be unreal back then. Who knew!
I am comparing it to trading. Because nothing is impossible. Some people born with talents some people need to work hard to get those talents. Davit worked hard to achieve his level of success. And so should we. We have a perfect system that works and being proven many times by many traders. Everything else is self-training. Like any elements. Working on yourself, on your emotions on your attitude on your ethics. Until it becomes part of you. Until it becomes so automated that you will start to believe that it's your own idea. I had better results when I started trading because my mind wasn't cluttered like now with useless systems and indicators, fears or false information. I was open minded. And I am working hard everyday to get that state of mind back. Give up is easy. Harder not to give up and succeed. But this is the only way!

My Calendar for Week 17 (April 22, 2018 - April 28, 2018)

Attached File(s)

Trading Plan week 17, 2018.pdf   230 KB | 930 downloads

Best regards

unfortunately you are too much of an idiot to understand what you quoted.You will be removed as one removes a virus.
Its a pity you could of learned something of value.You remind of someone poking his head in art class and seeing an artist's drawing over his shoulder and assuming it was a camel tail.You close the door and walk away but actually he was drawing a cat and you only saw the tail but not the whole thing.This is you everything screwed up and upside down inside.Photoshop BS has been circulating among small idiot haters and when I challenged this individual to prove it she could not and accusations are cheap.Real person with integrity would of refrain from inflammatory accusations unless you have solid prove.
Truth is have not touched Photoshop in years and never altered any charts graphs to mislead anyone!People who follow me here can easily see the trades I close and facts are here on this thread!Its a real pity there are individuals like you.You quoted Mark Douglas idiot and could not even grasp the essence what he was saying.Outcome of every trade is uncertain and this should of been obvious long time ego to you!Heart of trading is making money from uncertainty however I honestly think you are too stupid to see this.
Removed

By accepting the random nature of trading I can produce consistent results…
Now, on the surface, it seems contradictory to say you can produce consistent results from something that is random in nature. However, let’s dig a little deeper…
Technical methods and patterns will give a trader the same advantage a casino has over any individual player. A casino has an “edge” for every game they offer. What a casino knows is that whilst any singular instance of someone playing their game might result in the player winning money or even hitting the “jack pot”, due to the edge they hold, over-time and over enough series of events, the casino will make a profit, and a large one at that. Remembering this point will help you make the transition from thinking in ‘certainties’ as I put it, to thinking in probabilities as Mark describes and as you should be thinking.
If you don’t integrate the randomness principle, you will find trading is the most frustrating endeavor you can undertake. You can only generate consistent returns by understanding that each trade is random and unique, and then taking that information and using it to control yourself after each trade. Do not get hung up on your last trade. Instead, focus on consistently trading your method over and over.
Frustration comes from expecting something our method can’t do. Technical methods find and identify patterns in collective human behavior, the problem is, the outcomes don’t always correspond with the pattern on a trade by trade basis. There doesn’t have to be a relationship with the outcome and pattern. There is no guarantee that this trade will be the exact same result as the last one, even if they look the same. Rather, the method only tells us that IF we use it consistently, then over a series of trades, we should be profitable.
Think in probabilities, not certainties…
Perhaps the point Mark Douglas is most famous for drilling into traders, is that you need to learn to think in probabilities.
We did discuss this a little earlier, but it’s critical to understand that there’s a random distribution of wins and losses over sequence of trades.Traders who learn to think in probabilities do not experience the mental ‘trauma’ like those traders who haven’t learned to think in probabilities because they are not ‘expecting’ a winner on any given trade like those who don’t think in probabilities. Learning to think in probabilities releases your expectations from trades because you are focused on the results of the overall series of trades, not on the result of any given trade.
If you have a weighted coin that will be heads 70% of the time, you still don’t know the sequence of heads and tails, all you know is OVER TIME 70% of the flips will be heads.

Sad, that these kind of people sometimes pop up in threads and say something bad about things they understand nothing about ... I'm really glad to see you are above all that Davit

I do not agree on this, Davit did not sell anything, he even teach us how to walk through this woods. Why would he photoshopped his result, for what motive?

What I know, this pivots really works.



Look how the price react to R38 and S38. (blue box)

It goes beautifully from R38 to S38, but it doesn't always do that, market always right, it can go from R38 to above, to pivot, to S38 ... nobody knows, all we know is we have to manage our own trade, read the price.

Nothing in life is guaranteed 100% except birth and death.

To Davit and every pivoter who wants to succeed with Pivot Trading. Let's get back to trading, start preparing yourself for the weekly calendar. Have a plan in place and mark the important levels on your charts. Be more confident, be patient and trust your pivots.



Best regards