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Weekly Pivot trading with TDI

  • #5,121
  • Oct 23, 2018 7:42am Oct 23, 2018 7:42am
And as a last post from me as the little black sheep , ill leave you with 1 last contradiction from page 2 in the the PDF on how to trade this system;

Directly from the mastermind creator;
" Its important to understand that pivots are zones and not exact number. Often price can fluctuate 10-20pips before turning"

Once you effectively plot this statement on a chart, the zones around the pivots extending circa 20 pips either side of each pivot and the fact that you are taking trades from the WPP, effectively means your essentially looking for PA anywhere!!! Therefore, the pivots are effectively a redundant part of the system, they are only there to give you a false sense of technical conviction when you take a position!

Once i started ignoring the pivots and simply looking for PA anywhere in the direction of the fundamentals - hey presto i have more winning trades. It also happens to be like a fundamentally based weekly trend following system... but alas, i cannot claim it as my own and use it to stroke my own ego with it, nor convince suckers into a pyramid scheme with it, not coerce people into a copy trading scheme with it, nor make a failed attempt at a neural network using the worlds "smartest traders" as nodes for a signal service, nor make a failed attempt to convince an elitist fanboy frat club to throw money at me...
sadly no, its all been done before!
Best of luck to ya
  • #5,122
  • Oct 23, 2018 7:49am Oct 23, 2018 7:49am
Thanks for clearing this up that forex isn't an exact science.
  • #5,123
  • Oct 23, 2018 7:52am Oct 23, 2018 7:52am
I never understood people who go on public forums or social networks to bash and complain the very thing they follow or can't get away from...when they can easily go and find what truly works for them. Like I mentioned before people would rather look outside themselves for the cause of problems or even the solution when all lies within themselves. But then again these comments come when people don't get "buy here tp there" signals and forces them to work at their trading. It is either that or are experiencing losses and/DD and had to find fault somewhere.

This method requires a lot of work, understanding of the market, and subjective decision making. It is made clear when told at least 2 years experience is required. And yes there are some nuisances but they will make sense in time. No system is 100%. If anything, these systems are not the edge...we are. They are nothing until we put them to work. Therefore, one must look within to make them work.

Find a system that works for you and make it happen; otherwise, take the best parts out of every system that might be the one but not quite and make your own. Trading is a lone wolf game...it is not meant to be done in packs.
Invest in Life
  • #5,124
  • Oct 23, 2018 7:52am Oct 23, 2018 7:52am
AUDJPY

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  • #5,125
  • Oct 23, 2018 8:05am Oct 23, 2018 8:05am
Quoting groper
And as a last post from me as the little black sheep...
Hi groper

think again before leaving the thread.

It may be that you have an exuberant personality but in any case I believe that you as anyone have the right to express your vision of the market in general and make your considerations about this strategy in particular, as long as you do it respectfully to whom (Davit) that gave us something precious to work on and to learn from in exchange for nothing and the thread owner (Neil) who continued Davit's work.

A lot different instead is Chenko post, who never gave any contribution to the thread, but suddenly popped up with a fierce criticism also offending this trader community.

All in all is up to you, decide quietly, as for myself I prefer that there is around someone who thinks differently, even opposite to mine, but always does it in a civil and respectful way.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #5,126
  • Oct 23, 2018 8:06am Oct 23, 2018 8:06am
Quoting Davit
Just a reminder guys You will read lots of posts contrary what this thread is about often from amateurs.Stay focused. I don't trend divergence,market profiles,strength meters,trend lines,oscillator OB OS and rest of traditional technicals that majority of retail traders use and majority lose money. Stay focused on pivots and PA
Brother you absolutely right .if system already working normal why injecting own thoughts if not agree bypass it and look another one which suits the individual rather interfering someone
Best Regards
  • #5,127
  • Edited 8:31am Oct 23, 2018 8:12am | Edited 8:31am
Quoting groper
And as a last post from me as the little black sheep , ill leave you with 1 last contradiction from page 2 in the the PDF on how to trade this system; Directly from the mastermind creator; " Its important to understand that pivots are zones and not exact number. Often price can fluctuate 10-20pips before turning" Once you effectively plot this statement on a chart, the zones around the pivots extending circa 20 pips either side of each pivot and the fact that you are taking trades from the WPP, effectively means your essentially looking for PA anywhere!!!...
Your inability to understand whats on page 2 and to confuse it as a "contradictions" is ridiculous. Wheres the pyramid scheme? Who's providing signals? Who's offering copy trading? At the end of the day empty words mean nothing.
  • #5,128
  • Oct 23, 2018 8:17am Oct 23, 2018 8:17am
Quoting S_winner
AUDJPY {image}
I' m watching it for a long, but not jet. It is too early!
  • #5,129
  • Oct 23, 2018 8:23am Oct 23, 2018 8:23am
Davit Trade Worksheet - Updated
In Davit’s original Forum, Pivot Trading, approval was sought to submit Davit Worksheets to assist traders as an introduction and guide to Davit's Philosophy and Methodology.
Please refer to this Post: https://www.forexfactory.com/showthr...8764&page=1033
Subsequent to that Post, both worksheets have been included on Page 1 of this Forum with one in the Paper Clip. Of note, downloads have exceeded 5000+.
These were simply an introduction or guide to Davit’s system.

With a significant number of Personal Messages (PM) from experienced traders we have amended the original worksheets to one, simplified version.
Neil0163 may wish to include this version on Page 1?

With reference to Davit’s recent Post 5,096, Page 255 October 22, 2018 in which he states:
“Just a reminder guys.
You will read lots of posts contrary what this thread is about often from amateurs.
Stay focused.
I don't trend divergence, market profiles, strength meters, trend lines, oscillator OB OS and rest of traditional technicals that majority of retail traders use and majority lose money.
Stay focused on pivots and PA.”

Very, very relevant words! All to often we have been clouded by indicators with inconsistent results!

It is PA that we must concentrate on.

In this simplified version of the Davit Trade Worksheet, there is however, reference to some technical aspects that have proved to assist traders in developing their EDGE to trade Davit’s Methodology.
No apology is made for their inclusion. They may be ignored.

Experience as cited by Davit will enable traders to modify their trade method.
To undertake Davit’s Trading Philosophy, please visit the original Forum, Pivot Trading, link above, as well as Davit’s contribution to this Forum started by Neil0163, July 16, 2018.

Accompanying Notes to Davit Trading Methodology Worksheet as a Guide
Each of the primary boxes should be checked before entering a trade. Use an erasable pencil as Worksheets may be re-used if no trade entered. However, if the market moved, you have lost a record to study later.
Secondary boxes optional to check but will assist traders in defining their method and gain confidence.
File Worksheets as a documented record and compare with screen images.
You cannot gain an EDGE without Discipline. Appropriate documentation with screen images, essential.

Criteria: Self-explanatory with information in the Worksheet.
Time Frame: 15-30 minutes with reference to H1, and H4, Davit’s advice. D1 less reliable?

TDI Davit’s parameters are RSI Period 8, Trade Signal Period 5.
With these TDI settings the levels 68-70, 30-28 are often markedly exceeded.
Although Davit does not subscribe to levels - he has real experience - we have found the introduction of 78.6 and 23.6 to be of use.
These apply to Entry and Exit Criteria.
TMS_Angleator needs to have these settings applied also. Use Tools, MetaEditor, Lines 345 to 348 and Lines 383 to 386.
MM: Reference is made when considering a Trade Exit to evaluate closing 60-70% of positions and let the remaining positions run! Set Stops to profit.
Why Close 60-70%?
Profit is assured on all trades whereas in closing only 50% may still lead to a loss or at best break even!

Attached File(s)
File Type: pdf Davit Pivot Trading - Trade Entry-Exit Criteria Vs1.12.pdf   139 KB | 944 downloads
  • #5,130
  • Edited 8:58am Oct 23, 2018 8:24am | Edited 8:58am
Quoting v2vboni
UJ: Price may be looking at the weekly pivot once EU/London session commences... unless proven otherwise ; )─ {image} CoT data (Managed Money - Fast Money) seem to support a near-term downside movement ─ may be in or around 111 handles. Bonds are just one of the leading indicators that provided an indication of USD strength and weaknesses as of late. Since May this year, the Bond Yields continue to lead, among other leading indicators as far as Fx is concerned. {image} BOJ's Kuroda said to have expressed that global stocks are showing...
...following-up with UJ: Bond prices relationship on USD strength & weakness...

Price may target S1
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Here, watch for bond price looking at R100 .. either one of the instruments ─ UJ and US1Oy bonds breaks first - look for PA to reveal itself... as you start to use the strategy imprinted on this thread.
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...a fraction of volumes from bond futures contracts (CoT based data)
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In any case... read my v2v disclaimer ; )─

#whytradersfail
#themarketiceberg
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #5,131
  • Oct 23, 2018 8:28am Oct 23, 2018 8:28am
Quoting S_winner
AUDJPY {image}
May I ask you what made you think this is a good long? Just by looking at this picture and without access now to the charts I see a support broken and now the previous support used as resistance (S38) to keep going down :/

I just want to understand in what you based your decision, I don't see the point of posting the chart without even a small explanation...
Building a Freedom All Time Return: 5,178.8%
  • #5,132
  • Edited 8:53am Oct 23, 2018 8:37am | Edited 8:53am
Quoting renkotop
{quote} I' m watching it for a long, but not jet. It is too early!
Hi renkotop,

I think you're right here, AJ is sinking like a stone.

I made a bunch of early entries now I'm in still manageable DD, I'll probably add more positions if it will turn around.
I'm in long on AU too and I was stopped out by TS on my long GU, not to far from TP.
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Porta itineris dicitur longissima esse
  • #5,133
  • Oct 23, 2018 8:44am Oct 23, 2018 8:44am
Quoting bubincka
{quote} Hi renkotop, I think you're right here, AJ is sinking like a stone. I made a bunch of early entries now I'm in still manageable DD, I'll probably add more positions it it will turn around. I'm in long on AU too and I was stopped out by TS on my long GU, not to far from TP. {image} {image} {image}
after M30 candle closed, i just building long on AJ
  • #5,134
  • Oct 23, 2018 8:55am Oct 23, 2018 8:55am
Quoting General Lee
{quote} after M30 candle closed, i just building long on AJ
Hi General Lee,

better timing than mine, for sure.
Porta itineris dicitur longissima esse
  • #5,135
  • Oct 23, 2018 9:12am Oct 23, 2018 9:12am
Quoting bubincka
{quote} Hi General Lee, better timing than mine, for sure.
thanks mate...but j too strong at the moment
  • #5,136
  • Edited 9:44am Oct 23, 2018 9:32am | Edited 9:44am
USD/CAD looking good... until proven otherwise ; )─

IMO... Oil is still overvalued. However, as far as seasonality is concerned, Crude Oil price must come down a bit more. ─even Trump said these things recently at the UN. At the time in which I now write ; )─ I'm no longer indifferent with this commodity currency, CAD. Hence, with USD/CAD, I'm on medium-term bullish initial readings as I wait for tomorrow's BoC rate statement.
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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #5,137
  • Oct 23, 2018 9:37am Oct 23, 2018 9:37am
Quoting v2vboni
USD/CAD looking good... until proven otherwise ; )─ IMO... Oil is still overvalued. However, as far as seasonality is concerned, Crude Oil price must come down a bit more. ─even Trump said these things recently at the UN. Hence, I'm looking at USD/CAD on a medium-term bullish price movement, However, let see how it goes with BoC rate statement tomorrow. {image}
seems like usdcad will weaken heading into tomorrow’s rate decision, it’s almost certain boc will hike rates
  • #5,138
  • Edited 10:12am Oct 23, 2018 9:54am | Edited 10:12am
Quoting mamalujo
{quote} seems like usdcad will weaken heading into tomorrow’s rate decision, it’s almost certain boc will hike rates

Yes, it may seem likely that USD/CAD weakens... but IMO, just for a while. In any case, as always in terms of historical analogy... an economic contraction is always shorter periods than economic expansion. In addition, BoC doesn't seem to change their rate that frequently. Also, they always made some surprises even in a likely scenario or even in almost certainty, a day or hours before the release. Usually, the volatility comes from the statement itself (dovish or hawkish)... But if there's a rate change contrary to the market expectations, then expect huge price movements.
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #5,139
  • Oct 23, 2018 10:07am Oct 23, 2018 10:07am
Quoting J1mm
{quote} May I ask you what made you think this is a good long? Just by looking at this picture and without access now to the charts I see a support broken and now the previous support used as resistance (S38) to keep going down :/ I just want to understand in what you based your decision, I don't see the point of posting the chart without even a small explanation...
Sorry. But English is not my language.
Decision on trade point on the chart.

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  • #5,140
  • Oct 23, 2018 10:10am Oct 23, 2018 10:10am
Quoting bubincka
{quote} Hi renkotop, I think you're right here, AJ is sinking like a stone. I made a bunch of early entries now I'm in still manageable DD, I'll probably add more positions if it will turn around. I'm in long on AU too and I was stopped out by TS on my long GU, not to far from TP. {image} {image} {image}
If it helps I’m in the same boat as you, currently in DD A/J and A/U and U/C from last week. I made tons on pips on A/C and N/U from holding postions and adding from last week.

Its a long term game and don’t get disheartens from short term losses..... profit is profit i haven’t had a losing month as of yet
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