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Pivot Trading

  • #20,361
  • Jun 17, 2018 9:27am Jun 17, 2018 9:27am
Quoting pgr45za
{quote} On Bloomberg, cover news article: https://www.bloomberg.com/news/artic...d-supply-boost WTI crude oil set to move higher.
Interesting to see this tug of war with OPEC. They were giddy when oil cratered to $30, resulting in a surge of US Oil and Gas producers bankruptcies.
Trade with confidence, trade without fear.
  • #20,362
  • Jun 17, 2018 9:31am Jun 17, 2018 9:31am
Hi guys
That was some wild week.ECB totally derailed everything and I don't think market was prepared and why such extreme reactions.
Draghi speaking Mon and Tues and I have a inkling he may retract some of his statement to be little more bullish and lift the Euro maybe 1680.

As Mark Douglas said
Anything can happen.We witnessed that Thurs.The point of my post is keep your lots small and carry on.I have been several times in situations like this but plowed my way out and even made profit.I am not phased or discouraged.I am basically living example of this system.I look at bigger picture larger sample size and even if I do have a red month its no big deal.Successful trading any successful trading has on occasion red periods.Do I start adding bunch of pointless indicators? No Do I change how I trade based on 1 week 2 day event? No
Carry on and you will prosper. I am way up for the month and I am happy where I am in my performance.
cheers

I have listened MD so many times that's ingrained in my consciousness.I have a real profound understanding what probability means and what Edge means.
People who don't understand this and nature of randomness keep going from system to system from losing to up then losing again never really understanding forces factors behind numbers,events,how market makers place their orders how and when swings end and new ones begins etc.
Keep your heads up with confidence!Carry on!
In trading, you have to be defensive and aggressive at the same time
  • #20,363
  • Jun 17, 2018 9:51am Jun 17, 2018 9:51am
Quoting PandionFX
{quote} Following your foot steps to excellence.... So far this month... Thank you. {image} {image}
That is spectacular! Keep up the good job you are doing!
In trading, you have to be defensive and aggressive at the same time
  • #20,364
  • Jun 17, 2018 9:58am Jun 17, 2018 9:58am
I want to add another thing never be afraid of volatility.When others panic I look for opportunities when others worry I am relaxed calm even with increased DD on some positions I have I am totally fine with it.You have to trust your EDGE.This I am saying over and over.Trust what you are doing that is if you are respecting system rules.
In trading, you have to be defensive and aggressive at the same time
  • #20,365
  • Jun 17, 2018 10:42am Jun 17, 2018 10:42am
Hi Davit,

I wanted to ask how much overall equity draw down percent (i.e. overall risk over all pairs and trades at the same time) you would deem conservative for a trader who starts out with your approach? Maybe you could describe how you did it when you started out with this approach.

Cheers

Jester
  • #20,366
  • Jun 17, 2018 10:51am Jun 17, 2018 10:51am
Quoting Jester_73
Hi Davit, I wanted to ask how much overall equity draw down percent (i.e. overall risk over all pairs and trades at the same time) you would deem conservative for a trader who starts out with your approach? Maybe you could describe how you did it when you started out with this approach. Cheers Jester
I would say 2.5% to 3% maximum per pair.
  • #20,367
  • Jun 17, 2018 10:57am Jun 17, 2018 10:57am
Quoting Jester_73
Hi Davit, I wanted to ask how much overall equity draw down percent (i.e. overall risk over all pairs and trades at the same time) you would deem conservative for a trader who starts out with your approach? Maybe you could describe how you did it when you started out with this approach. Cheers Jester
I Jester
I have placed some funds on hold when I started in case I needed to boast the account which I did during Brexit crises.Now no back up funds everything I have its there. 5% or less DD is conservative in my book and should cause no alarm. I fluctuate 2% to 15% average around 5-7%when holding a position for 2-3weeks.In fact this is normal meaning any system must accommodate DD unless you are day trading or scalping. Positions/Swing/Trend trading requires extra time hence why DD.
DD is not to be confused with trades that are clearly wrong.DD are trades that have high probability to become winners but If I think Edge is no longer there and my SL requirement has been fulfilled I will take the loss.By no means I advocate holding a losing trades until your account goes bust.Like I said DD are positions that are high degree profit potential.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #20,368
  • Jun 17, 2018 11:08am Jun 17, 2018 11:08am
Hi Davit,

thank you for your quick reply.You mentioned that you average around 5-7% dd when holding a position for 2-3 weeks. But what I meant was this. Say you trade EURUSD, GBPUSD AUDCAD each of them in dd by 7%..So in total your account is in dd by 21% Is there an overall dd level where you would advise new traders of your system to stop trading a new pair until overall dd is reduced or should we really not care as long as we have not maxed out on margin because the odds are in our favour?

Cheers and my apologies for not being clearer in the first place

Jester
  • #20,369
  • Jun 17, 2018 11:21am Jun 17, 2018 11:21am
Quoting Jester_73
Hi Davit, thank you for your quick reply.You mentioned that you average around 5-7% dd when holding a position for 2-3 weeks. But what I meant was this. Say you trade EURUSD, GBPUSD AUDCAD each of them in dd by 7%..So in total your account is in dd by 21% Is there an overall dd level where you would advise new traders of your system to stop trading a new pair until overall dd is reduced or should we really not care as long as we have not maxed out on margin because the odds are in our favour? Cheers and my apologies for not being clearer in the...
I always look at my overall DD.When I think its not looking good I don't add new positions at all.I have never looked single pair DD because to me that's pointless.Its always been overall DD of the account.
Each pair is unique and has its mini fundamentals chart location and should be managed singularly but DD should be looked at overall.
When you must cut losses you should take the loss on a pair which has the least potential to be be profitable not necessarily biggest DD.
I had DD on EU but end up being green by Friday close. I have small DD on AN but don't think its cause to worry. I have DD on AU but think its at great support level. Do you follow me? If you must take a loss take the pairs that stinks the most and that maybe not the biggest DD pair.
Big DD could be result of greed because you entered bigger positions but on chart and fundamentals still could be great to become profitable hence why I said biggest DD does not automatically mean weakest position to take a loss.
In trading, you have to be defensive and aggressive at the same time
  • #20,370
  • Jun 17, 2018 11:32am Jun 17, 2018 11:32am
Wow,

thank you ...that was a great answer which will help me a lot. I always looked at dd per pair instead of overall dd.

Thank you so much Davit
  • #20,371
  • Jun 17, 2018 11:52am Jun 17, 2018 11:52am
Quoting Davit
Hi guys That was some wild week.ECB totally derailed everything and I don't think market was prepared and why such extreme reactions. Draghi speaking Mon and Tues and I have a inkling he may retract some of his statement to be little more bullish and lift the Euro maybe 1680. As Mark Douglas said Anything can happen.!
You have nailed the confidence in your system !
Be the change that you want to change
  • #20,372
  • Jun 17, 2018 12:31pm Jun 17, 2018 12:31pm
Hello guys,

what i found that works for me, is that i stopped to listen guys telling me some percentages. Some say 2, some say 5 or somebody will tell you 20% DD is alright.
Its not. Its very specific and individual. You can be confortable to trade with 2% DD or you can be confortable with 20% DD. When you are not comfortable with specific DD, you will make a lot of mistakes which lead to entering with bigger positions (as Davit said). Do what fits to you And honestly , there is nothing wrong on DD at all.

Cheers
Recruit
  • #20,373
  • Jun 17, 2018 12:48pm Jun 17, 2018 12:48pm
Quoting Recruit
Hello guys, what i found that works for me, is that i stopped to listen guys telling me some percentages. Some say 2, some say 5 or somebody will tell you 20% DD is alright. Its not. Its very specific and individual. You can be confortable to trade with 2% DD or you can be confortable with 20% DD. When you are not comfortable with specific DD, you will make a lot of mistakes which lead to entering with bigger positions (as Davit said). Do what fits to you And honestly , there is nothing wrong on DD at all. Cheers Recruit
Exactly, my DD limit will always vary on where price is at. If it appears that I am wrong then I gtfo immediately. Most of the time I just need to wait a little bit for the trade to develop.
Trade with confidence, trade without fear.
  • #20,374
  • Jun 17, 2018 1:35pm Jun 17, 2018 1:35pm
Quoting Cryptosurf
{quote} Exactly, my DD limit will always vary on where price is at. If it appears that I am wrong then I gtfo immediately. Most of the time I just need to wait a little bit for the trade to develop.


its this variable that makes or brakes a trader imho
nice to see some honest man chat on fathers day, good will to all
  • #20,375
  • Jun 17, 2018 1:44pm Jun 17, 2018 1:44pm
EU, UJ ($1 billion at 110.5) and UC ($1.5 billion at 1.29) had significant options expire last Friday, this would have had some effect on the price.
  • #20,376
  • Jun 17, 2018 6:07pm Jun 17, 2018 6:07pm
hi Davit, impressive results, congratulations and thank you for sharing their work with the world. Here is the EA ,it seems to me can fit your trading style, And risk and profit percentage noted in the chart, the settings are intuitive.
Attached File(s)
File Type: rar Skylover Dream (with Button and MM).rar   52 KB | 568 downloads
  • #20,377
  • Edited 10:20pm Jun 17, 2018 10:08pm | Edited 10:20pm
Have a nice week guys . first trade in the morning (CHFJPY) .Second one is USDCAD Lets see how it goes .. Davit thanks for your great system
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CHFJPY.png Size: 46 KB
Click to Enlarge Name: usdcad.png Size: 47 KB
  • #20,378
  • Jun 17, 2018 10:41pm Jun 17, 2018 10:41pm
a lot of good possibilities this morning. for example shorts in E and G ending pairs are good because they fly too high last week.
also expect USD to come down.
trading is like dancing, don't think and just listen to the music!
  • #20,379
  • Jun 17, 2018 11:00pm Jun 17, 2018 11:00pm
Quoting newbie2014
Have a nice week guys . first trade in the morning (CHFJPY) .Second one is USDCAD Lets see how it goes .. Davit thanks for your great system {image} {image}
you are removed.Try practice reading next time.Its a simple request.Page 1
Please use my template and indicators only.
This is so we are all on same page and stick with what is being shared here.
If you do post with added indicators you will be removed from this thread without warning!

I thought if I make it bold and orange it might get noticed and read....Guess not
Its your loss not mine.Tells me also you can't trade because trading is about details
In trading, you have to be defensive and aggressive at the same time
  • #20,380
  • Jun 17, 2018 11:10pm Jun 17, 2018 11:10pm
We had a nice bounce NJ today which I missed was not home.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYH4.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
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