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Weekly Pivot trading with TDI

  • #4,581
  • Oct 9, 2018 5:36am Oct 9, 2018 5:36am
Quoting Davit
{quote} HI fx back testing is greatly exaggerated and falsely addressed.At any given time every price is unique.That means all players placing their orders and all different events fundamentals at play can't be replicated.Guys who are obsessed about back testing are delusional in terms of effectiveness of it.Think about this if back testing worked we could hire accountants and historians to trade and they would make millions but reality is not that simple.Could you have predicted Trump trade wars? or any other event.No impossible.One thing is constant...

Hi, Davit, i am delighted to see your contribution here again, yes what you said is true, i will trade real and see if it is suitable for me or not, thx for your valuable comments.
  • #4,582
  • Oct 9, 2018 6:10am Oct 9, 2018 6:10am
Quoting renkotop
{quote} I' m in! long!
Hi renkotop,

I'm in long too, but atm with a minimal position.
Porta itineris dicitur longissima esse
  • #4,583
  • Oct 9, 2018 7:16am Oct 9, 2018 7:16am
One thing ive learned about this system - you have to know when to avoid using it. Highly trending markets tend to keep pushing past pivots and continue on - like we saw all last week with many pairs. But, If the market lacks direction and it happily ranging up and down, it works great for setting targets and looking for reversal points.

However like last week and again today, we simply see strong trends due to risk off sentiments surrounding the US and china etc... Often the market pauses and even reverses a little to trick us into a trade - but then keeps on going the way it was going not respecting any of the pivot levels.

To successfully use this system - you really have to take a step back and look at the big picture and decide on whether its likely a trending market or not.
With all the hype around china US tensions - theres no way the risk currencies were going to catch a bid against U oday- so this should already be in your mind when considering a trade of a riskon/riskoff correlated pair. Likewise last week - we should have seen the CAD trend likelihood surrounding NAFTA and avoided the temptation to bet against it even when it paused at key resistance pivots of sr78 etc.
So one key element you need to learn is applying a filter to your entry, consider long and short term trendlines, other traditional/classical patterns, breakouts and support/resistance levels and of course trending market conditions.
Ive made some nice trades this week already short EA EJ and GN. Also managed to avoid being tempted into any bad ones so ive kept my pips instead of loosing them...
  • #4,584
  • Oct 9, 2018 7:39am Oct 9, 2018 7:39am
Anyone short GA or UJ?
  • #4,585
  • Edited 8:07am Oct 9, 2018 7:49am | Edited 8:07am
Quoting Merka
Anyone short GA or UJ?
I'm holding shorts on UJ since 04/10
  • #4,586
  • Oct 9, 2018 8:06am Oct 9, 2018 8:06am
Quoting antisystem
{quote} I'm holding short UJ since 04/10
I am also holding shorts from 03/10.
  • #4,587
  • Oct 9, 2018 8:10am Oct 9, 2018 8:10am
Quoting Merka
Anyone short GA or UJ?
i'm short usdcad
  • #4,588
  • Oct 9, 2018 8:11am Oct 9, 2018 8:11am
Quoting fxbarwise
{quote} I am also holding shorts from 03/10.
Cool
Usually I don't like to hold for long as all profit will get eaten by swap, rollover etc... Unless I'm trading big money.
If you are trading 0.01 lots etc.. Does make sense to hold for long? Just an observation
Cheers
  • #4,589
  • Oct 9, 2018 8:18am Oct 9, 2018 8:18am
Quoting Merka
Anyone short GA or UJ?
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  • #4,590
  • Oct 9, 2018 8:23am Oct 9, 2018 8:23am
Quoting 1pipperhour
{quote} {image}
Where is your TP as you didn't took profit at S100?
  • #4,591
  • Oct 9, 2018 8:27am Oct 9, 2018 8:27am
Quoting Merka
{quote} Where is your TP as you didn't took profit at S100?
I did, this is the rest.
  • #4,592
  • Edited 9:22am Oct 9, 2018 8:47am | Edited 9:22am
Quoting S_winner
{quote} https://www.forexfactory.com/showthr...73#post7549573
Top notch !!

many thx

edit: ADR values differ somewhat. Wonder what averaging value the indicator is using?
  • #4,593
  • Oct 9, 2018 9:30am Oct 9, 2018 9:30am
EU bounce off S61 - Dollar index opposite direction as expected and UC rejecting R61 second time - Oil coming off supporting break on UC.
  • #4,594
  • Oct 9, 2018 9:32am Oct 9, 2018 9:32am
Quoting Merka
{quote} Cool Usually I don't like to hold for long as all profit will get eaten by swap, rollover etc... Unless I'm trading big money. If you are trading 0.01 lots etc.. Does make sense to hold for long? Just an observation Cheers
Merka, I keep my trades between 4 and 10 days, depending on the situation as I use Davit's system for swing trading mainly on H4 TF . Swaps and other costs vary by broker.
  • #4,595
  • Oct 9, 2018 9:58am Oct 9, 2018 9:58am
Quoting skippyone
EU bounce off S61 - Dollar index opposite direction as expected and UC rejecting R61 second time - Oil coming off supporting break on UC.
Potential long here yes - I need more confirmation though.
  • #4,596
  • Oct 9, 2018 10:39am Oct 9, 2018 10:39am
Quoting renkotop
{quote} I' m in! long!
I would recommend not shorting GBP with brexit. Also Eurgbp looks like a range breakout
  • #4,597
  • Oct 9, 2018 10:40am Oct 9, 2018 10:40am
USD probably dropping because of NIkki Hailey hahaahaha
  • #4,598
  • Oct 9, 2018 10:45am Oct 9, 2018 10:45am
https://www.forexfactory.com/news.php?do=news&id=832535

GBP may fly
  • #4,599
  • Oct 9, 2018 10:54am Oct 9, 2018 10:54am
Quoting RonFXLive
Hi guys, Looks like a Double Bottom is foaming for EURUSD. Watch out for it. Short USDCAD at price 1.29700. Long GBPAUD at price 1.84627. Long GBPUSD at price 1.30660. Cheers and good luck! Ron.

Hi guys,

Did anyone enter those trades which I posted yesterday?

Cheers!
Ron.
  • #4,600
  • Edited 11:21am Oct 9, 2018 11:06am | Edited 11:21am
Letting time do its thing. I've been in this EG trade since forever. Also notice double top on UC, I love trading those. Triple tops even better! When it comes to those trades, think about price. The second time it comes around, you are going to have more sellers than buyers. Because think about the people who went long the first time, price moves down, they get stopped out, price moves back up and so now the previous buyers turn into sellers, so more selling pressure. Triple top is even bigger.

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Stay safe, stay green!
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