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Weekly Pivot trading with TDI

  • #921
  • Aug 3, 2018 11:11am Aug 3, 2018 11:11am
Quoting diepienaars
Increased my account by 25% this week using Davit’s method. Traded three pairs and never had more than 2% drawdown. Took a small loss on one, but even less than the amount risked. Waited patiently for opportunities and even missed some, but reaped the rewards. This method works if the rules are followed and I have much to learn still.
At the higest high
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  • #922
  • Aug 3, 2018 11:14am Aug 3, 2018 11:14am
Just between you and me, I look at price on a close line, a lot. Takes out all the noise when it comes to identifying verifiable pivots.
  • #923
  • Aug 3, 2018 12:01pm Aug 3, 2018 12:01pm
I fully agree with this trading style and system. If someone is looking to automate it, feel free to contact me and I will write the EA for you.
  • #924
  • Aug 3, 2018 12:01pm Aug 3, 2018 12:01pm
Quoting Sossos
I'm going to throw something out that everyone might already know, but here goes. There are pivot points ( the lines drawn on Sunday night each week bases on the WP) and then there pivots. From reading the posts here for the last couple of weeks I see a lot of traders just interested in the pivot points and they seem to miss the concept of pivots. It seems to me that Davits concept and writings mention waiting for the TDI to turn in the direction you want to trade. I don't want to sound to simplistic, BUT IF THE INDICATOR TURNED, YOU CAN BET YOUR...
I use support and resistance(turncoats) as an extra measure to confirm my trades at pivot levels and I also look for price exhaustion and trend weakness to stack the odds in my favor because I like you do not like drawdown at all as you can see:

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  • #925
  • Aug 3, 2018 12:26pm Aug 3, 2018 12:26pm
Quoting sharingan9
{quote} I use support and resistance(turncoats) as an extra measure to confirm my trades at pivot levels and I also look for price exhaustion and trend weakness to stack the odds in my favor because I like you do not like drawdown at all as you can see: {image}
NICE!
  • #926
  • Aug 3, 2018 12:27pm Aug 3, 2018 12:27pm
Quoting sharingan9
{quote} because I like you do not like drawdown at all as you can see: {image}
You're going to have to get used to it because I'm sure you know it's an unavoidable part of trading. Just need to learn how to train to your mind to accept it because otherwise you'll be taking losses that would have turned in your favor.

Psychology takes up majority % of the game.

Good luck.
  • #927
  • Aug 3, 2018 12:33pm Aug 3, 2018 12:33pm
Quoting sharingan9
{quote} I use support and resistance(turncoats) as an extra measure to confirm my trades at pivot levels and I also look for price exhaustion and trend weakness to stack the odds in my favor because I like you do not like drawdown at all as you can see: {image}
You have forgot to hide Higest price nice curve BRAVO.
  • #928
  • Aug 3, 2018 12:41pm Aug 3, 2018 12:41pm
Anyone looking at this one?
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  • #929
  • Aug 3, 2018 12:46pm Aug 3, 2018 12:46pm
Quoting Erebus
{quote} sure, no problem {image}
You sure nailed it
  • #930
  • Aug 3, 2018 12:59pm Aug 3, 2018 12:59pm
Hi everyone! DD is essentiall part of the trading because it's training you how to deal with RED numbers and keep you head cool and money management intact. I actually started to enjoy DD when they are manageable. When price goes below or above your order you have a good chance to see bigger picture more clear. As well as make a better decision what to do with it. We are trading small money. Really small. When hedge fund managers trading millions of dollars it's totally different game. I can only imagine what I would do if I see 1/4 million in DD .
  • #931
  • Aug 3, 2018 1:02pm Aug 3, 2018 1:02pm
Quoting sharingan9
{quote} Very true. News may seem like it will be good and the numbers may in fact print green but you never know for sure how the market will react. The market may have information that we retailers do not know. For example, the votes were unanimously in favor of raising interest rates however the market may have information about what Carney will say that will drop the pound and the market just expected the rate hike decision to push price up enough so sellers can jump in with their shorts. The market may have information that that will lead them...
I got burned today by GBP. Everything seemed fine with the unanimous vote and the rate hike but Carney's speech is what led to the unexpected shorts. But lesson learned....I should have waited for the speech to end before taking those longs. PA is king.
  • #932
  • Aug 3, 2018 1:50pm Aug 3, 2018 1:50pm
Quoting Inception12
{quote} I got burned today by GBP. Everything seemed fine with the unanimous vote and the rate hike but Carney's speech is what led to the unexpected shorts. But lesson learned....I should have waited for the speech to end before taking those longs. PA is king.
Yeah. Do not worry you will make it up with your wins. Just keep executing your plan and learn from the loss. News printing green doesnt always mean price will go up. What matter is what the market knows and how the market will react to the news. So unless I get into the trade several hours as in close to a day before news hits I do not even bother. Even if I have reason to believe that news will be in my favor(which is still a good way to trade since your combining the fundamentals with price action and pivots like the thread instructs) I will still stay out because I know I will find other opportunities where news will not DD me lol
  • #933
  • Aug 3, 2018 2:00pm Aug 3, 2018 2:00pm
Quoting SirYodaa
{quote} You're going to have to get used to it because I'm sure you know it's an unavoidable part of trading. Just need to learn how to train to your mind to accept it because otherwise you'll be taking losses that would have turned in your favor. Psychology takes up majority % of the game. Good luck.
Right. It is not avoidable. Somethings in life are not avoidable for instance seeing my wife's mother. I have to see her on holidays even though I think my wife's mom is worse than drawdown and losses in fact I'd rather experience a margin call than to be in the same room with that woman for 2 minutes. However, just because I cannot avoid her does not mean I cannot drastically limit the amount of time I see her. In this manner I can drastically limit the amount of drawdown I experience and as long as I know that with every trade I did everything in my power and plan to avoid draw down then if I still experience it sometimes I am fine with it because I know I did everything I could. That s how you handle drawdown, you accept it with a nod and a shrug of your shoulders with the firm understanding that you executed your trading plan to the best of your ability.

But if your just taking drawdown left and right and you are not taking every precaution in your trading plan to limit/avoid drawdown then you are just putting yourself through unnecessary hell in my opinion.
  • #934
  • Aug 3, 2018 2:03pm Aug 3, 2018 2:03pm
Quoting mizi123
{quote} You have forgot to hide Higest price nice curve BRAVO.
Nice job yourself. I have been watching your trading as well. You have great skills brother.
  • #935
  • Aug 3, 2018 3:16pm Aug 3, 2018 3:16pm
I love this system, almost 1000 pips on a few positions on EUR-JPY Short,

Stayed in the trade, going to close out now
happy days!!

I did make a small mistake I got in a bit too early, normally my hit range is just after R61!!

Still learning..!
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  • #936
  • Aug 3, 2018 3:23pm Aug 3, 2018 3:23pm
I hope you guys are studying your losers. I know I sure do. I catch myself being impatient all the time. I'm ready to trade, but the market isn't.
  • #937
  • Aug 3, 2018 3:49pm Aug 3, 2018 3:49pm
If you guys have read the handbook pdf about how to trade this method you’d see your target zone should be first the S38 if buying or R38 if selling after that you continue to weekly pivot. From there I trail my stop. Trades should be taken from S or R 61-100. I do like to wait for 78 but sometimes I get eager!
Just thought I’d add that inas I had a few questions inboxed with regards to targets and entry.
its worth everyone refreshing there minds by reading through that pdf I’ve just had another scan through and remembered that when we trade JPY pairs we should look at UJ first as the majority of time AJ will be doing the same thing.
  • #938
  • Aug 3, 2018 8:42pm Aug 3, 2018 8:42pm
Quoting scalprobot
I fully agree with this trading style and system. If someone is looking to automate it, feel free to contact me and I will write the EA for you.
there is an EA thread in trading systems
I will get my head around this, but always can be wrong
  • #939
  • Aug 4, 2018 12:03am Aug 4, 2018 12:03am
Quoting armaros
Every Yen ADR is at very high level 110-150-170%
Hello, I have a question in regards to this. Is the ADR relevent for the reason that if price is travelling long and the ADR goes north past 100% the likely hood of price going short is greatly increased?
life is a reflection of what we allow ourselves to see
  • #940
  • Aug 4, 2018 12:55am Aug 4, 2018 12:55am
Quoting mikeeating
{quote} Hello, I have a question in regards to this. Is the ADR relevent for the reason that if price is travelling long and the ADR goes north past 100% the likely hood of price going short is greatly increased?
This is also answered in the handbook but yes if Day for example the Daily range is 80 pips yet for some reason today it goes too 110 pips then yes chances for a reversal increase.
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