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Pivot Trading

  • #20,601
  • Jun 22, 2018 7:45am Jun 22, 2018 7:45am
Quoting denisius
Wow what an amazing week! I just closed all CAD shorts before news. . I am on thin ice this week. Margin call on Tuesday and very risky shorts from last night. Overall great week. Another 8% plus to my account. . 15% plus date -to month. And another week ahead. I hope I don't screw it up. Still can't fix my trader explorer. Need to figure statistics in my broker web. Anyone using FORE.com ? Would be great to have...
Why were you short C?
  • #20,602
  • Jun 22, 2018 7:52am Jun 22, 2018 7:52am
Bad CAD number meaning quite a lot of peeps here are in large drawdown with their CAD trades.

It would be interesting to see what people do in this situation.

Hold through drawdown period having faith in system that price will reverse?
Stopped out at your predefined limit?
Add to position at next pivot level if ADR and other indicators etc look good?

Making real time informed decisions when the situation looks less favourable is best time for learning
  • #20,603
  • Jun 22, 2018 7:53am Jun 22, 2018 7:53am
Quoting pgr45za
{quote} Why were you short C?
I wasn't shorting CAD, I was shorting CAD pairs, which is actually BUYING CAD. I was hoping Friday numbers will bring it up compare to the whole week and pivots were great so I used them for small 30-40 pip tp.
  • #20,604
  • Jun 22, 2018 7:55am Jun 22, 2018 7:55am
Quoting denisius
{quote} I wasn't shorting CAD, I was shorting CAD pairs, which is actually BUYING CAD. I was hoping Friday numbers will bring it up compare to the whole week and pivots were great so I used them for small 30-40 pip tp.
Ah ok, my bad

Have a good one!
  • #20,605
  • Jun 22, 2018 7:57am Jun 22, 2018 7:57am
Quoting el_duende
Bad CAD number meaning quite a lot of peeps here are in large drawdown with their CAD trades. It would be interesting to see what people do in this situation. Hold through drawdown period having faith in system that price will reverse? Stopped out at your predefined limit? Add to position at next pivot level if ADR and other indicators etc look good? Making real time informed decisions when the situation looks less favourable is best time for learning
The secret is to trade SMALL.
I wasn't even phased by the news - that's how "it's a numbers game" I am.

Swing trading is often in DD.
When the swing turns ... profit comes our way.

Think of a real swing at a park: you don't want to be in its way, but when it turns you climb aboard.
  • #20,606
  • Jun 22, 2018 8:00am Jun 22, 2018 8:00am
Quoting el_duende
Bad CAD number meaning quite a lot of peeps here are in large drawdown with their CAD trades. It would be interesting to see what people do in this situation. Hold through drawdown period having faith in system that price will reverse? Stopped out at your predefined limit? Add to position at next pivot level if ADR and other indicators etc look good? Making real time informed decisions when the situation looks less favourable is best time for learning
Best to wait out since usually most knee jerk algo trades usually come down then take a smaller loss if necessary.
This system also insist people manage their trades.Market is fluid and there will be losses.Its trading ups and downs question should be success over large sample size.Today I may lose but still be a winner for the month or for the Quarter.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #20,607
  • Jun 22, 2018 8:05am Jun 22, 2018 8:05am
Quoting el_duende
Bad CAD number meaning quite a lot of peeps here are in large drawdown with their CAD trades. It would be interesting to see what people do in this situation. Hold through drawdown period having faith in system that price will reverse? Stopped out at your predefined limit? Add to position at next pivot level if ADR and other indicators etc look good? Making real time informed decisions when the situation looks less favourable is best time for learning
Great questions! I feel a bit sarcasm in it. To me most CAD pairs crossed my limits and I would already be closing positions. Such weak data can send CAD far more down. My 2 penny!
  • #20,608
  • Jun 22, 2018 8:12am Jun 22, 2018 8:12am
UC is around yesterday high now, rejecting R100
Stay low, Go fast - No luck, All skill
  • #20,609
  • Jun 22, 2018 8:26am Jun 22, 2018 8:26am
Wow, crazy spike AUDCAD.
  • #20,610
  • Jun 22, 2018 8:48am Jun 22, 2018 8:48am
Quoting renkotop
Just fired first shorts for: GC R78 GN R78 GA R61 and EC R78 renko
closed everything with profit short before news came
  • #20,611
  • Jun 22, 2018 8:56am Jun 22, 2018 8:56am
month so far
close to 10% my goal.If I have to take 2k loss by the end of the month 5k gain is still respectful for challenging month.Challenging in terms of Trump,Tariffs, ECB Draghi dropping a bomb ,Feds raising rate etc. One also should look at the context how you traded during hardest times.
Its surviving tough months that one gains confidence and resilience.I had very tough month during Brexit but survived and grew my account.
In the end that's what counts.
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In trading, you have to be defensive and aggressive at the same time
  • #20,612
  • Jun 22, 2018 9:04am Jun 22, 2018 9:04am
Quoting Davit
{quote} you are doing a great job! Just a suggestion perhaps little lighter tone on your template so trade entries are easier to see. Thank you
will change a bit colors but i use this cos i am sensible at brighter screen.
cheers!
have a nice weekend
Take what you can, give nothing back
  • #20,613
  • Jun 22, 2018 9:17am Jun 22, 2018 9:17am
Thanks Davit for this perfect trading system.
Since beginning of June until now I made 893 EUR profit!!!

renko
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  • #20,614
  • Jun 22, 2018 9:36am Jun 22, 2018 9:36am
Quoting Davit
month so far close to 10% my goal.If I have to take 2k loss by the end of the month 5k gain is still respectful for challenging month.Challenging in terms of Trump,Tariffs, ECB Draghi dropping a bomb ,Feds raising rate etc. One also should look at the context how you traded during hardest times. Its surviving tough months that one gains confidence and resilience.I had very tough month during Brexit but survived and grew my account. In the end that's what counts. {image}
Outstanding Davit! Month to month you are killing it. This is true strive for success!
  • #20,615
  • Jun 22, 2018 10:12am Jun 22, 2018 10:12am
Quoting Davit
month so far close to 10% my goal.If I have to take 2k loss by the end of the month 5k gain is still respectful for challenging month.Challenging in terms of Trump,Tariffs, ECB Draghi dropping a bomb ,Feds raising rate etc. One also should look at the context how you traded during hardest times. Its surviving tough months that one gains confidence and resilience.I had very tough month during Brexit but survived and grew my account. In the end that's what counts. {image}
I don't think many know just how outstanding your stats are! Fine work Davit!
  • #20,616
  • Jun 22, 2018 10:51am Jun 22, 2018 10:51am
ok this is last one for the week ,when i got back home i couldn't resist to not shoot that longs
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Take what you can, give nothing back
  • #20,617
  • Jun 22, 2018 11:09am Jun 22, 2018 11:09am
Quoting denisius
{quote} Great questions! I feel a bit sarcasm in it. To me most CAD pairs crossed my limits and I would already be closing positions. Such weak data can send CAD far more down. My 2 penny!

Hi Davit, Denisius and fellow traders.

Thanks for your replies, there was no sarcasm or bad will intended in my post.

I was purely interested in the psychology of traders when faced with an event that would be deemed as a negative to the pivot system. Seeing the thought process involved when dealing with the not so favourable trading conditions in real time is what I find the most crucial part to bettering ones knowledge.

I suppose it these type of situations that reinforces your faith in the success of a system.
  • #20,618
  • Jun 22, 2018 11:51am Jun 22, 2018 11:51am
Quoting Husky77
ok this is last one for the week ,when i got back home i couldn't resist to not shoot that longs {image}
I'm assuming you were entering purely off of that previous spike that you missed and not the current PA? It appears that price is in between pivot levels and the TDI at the moment of entry was not going UP. I would also assume that the arrows of the angelator were also pointing either Down or Horizontal and not UP? Is this correct in my thinking? Mainly an entry off of the low of the previous rejection candle?
  • #20,619
  • Jun 22, 2018 12:24pm Jun 22, 2018 12:24pm
Quoting Davit
Let me add something You know why CNtrader is successful trading harmonics? Its not just the patterns he insists before taking any trade if behavior is correct!Which means does PA ,fundamentals conducive to place a trade or not! Its not just about patterns!Never has been.Go read his posts and watch his videos you might actually learn something! The guy was shorting at 61S but furthermore nothing in chart showing any bear sign.Why would you go short?This is trading 101 learn the basics guys! {quote} He is a full time trader waited 1month to bank...
Wanted to add my personal experience with it as an example! I always wanted to maximize profit, I am watching Davit do it and you guys holding it for longer. I tried, truly tried all kind of ways. Nothing works for me. Every time I wait, price reverse against me, every time I close it's too soon. Years after years . I stopped it. Basically using ADR and pivots. As soon as my TP reached I locked it. What happens after , none of my business. I don't aim for 100 pips, I aim something between 30-60 pips. And results came right away. I don't think weather it's going further or not., I sleep well and I stopped being disappointed because I gave away profits. No more. For those of you who have same issue my advice, set up your TP upfront, way before placing trade. Know what you want from this trade, take it when it gets there and move on. Maybe one day I will learn how to hold for longer but for now I'm ok with that.
  • #20,620
  • Jun 22, 2018 12:26pm Jun 22, 2018 12:26pm
Quoting bojack34
{quote} I'm assuming you were entering purely off of that previous spike that you missed and not the current PA? It appears that price is in between pivot levels and the TDI at the moment of entry was not going UP. I would also assume that the arrows of the angelator were also pointing either Down or Horizontal and not UP? Is this correct in my thinking? Mainly an entry off of the low of the previous rejection candle?
youre right but not 100%
that last one was not exactly 100% inside the rules of this and i was looking for price to test again last low or try make new low and to jump in anticipating the exhaution of the candles M30 H1.the thing is that i was right like i was right in so many many times in the past even before to be here on Davit thread.Now is better cos pivot lines create me more exact the oportunity zone.

Yes i see this pivot level lines more like ''oportunity zones'' ,when price come into those zones you need to focus better and try spot the entry.
for example i can entry long even under s100 at low limit of 138 and thats because i see a zone when price goes in and bellow s100 area.of course price can break it down harder but... for that i have my own edge limit and eyes to watch what is happening.swings will always be on our charts ,to spot them as much we can is our job.
you see in that chart price made a spike i am sure i had no chance to catch that even if i was at my pc as i think was fast spike down.then price made regular retrace after such spike.usual many retailers jump on such retraces but then price make new attempt for new low this is when many get their SL hit.and then comes the nice swing up when chances are better for bigger reversal.
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Take what you can, give nothing back
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