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Pivot Trading

  • #22,081
  • Oct 30, 2018 4:35am Oct 30, 2018 4:35am
Thanks to Davit and everyone contributing here, Please I'm eager to know if this system can be managed properly in small account (350 USD).
  • #22,082
  • Oct 30, 2018 4:55am Oct 30, 2018 4:55am
Quoting kingdavid15
Thanks to Davit and everyone contributing here, Please I'm eager to know if this system can be managed properly in small account (350 USD).
Yes but don't open standard account (open cent account) because in that type of account the smallest lot size allowed is 0.01 so you can open 3 trades only for 1:100 account.
  • #22,083
  • Oct 30, 2018 4:56am Oct 30, 2018 4:56am
Quoting kingdavid15
Thanks to Davit and everyone contributing here, Please I'm eager to know if this system can be managed properly in small account (350 USD).
Yes this system is very good and can be use on any account because in started with $50 and it is paying me very well, just be disciplined and follow the rule, please avoid overtrading.
When you learn to adapt, you will be unbeatable........ "FX IS SWEET".
  • #22,084
  • Oct 30, 2018 5:03am Oct 30, 2018 5:03am
Glad you are back Davit! I've been on the euraud boat like several others for the past couple months. Haven't been managing it as actively as I should have been (trailing SL to capture profits, etc.) But DD is now tiny and the positive swap has been nice. I must say seeing you post here again has really got me motivated this morning. Green pips!
Process over outcome.
  • #22,085
  • Oct 30, 2018 5:07am Oct 30, 2018 5:07am
Quoting kingdavid15
Thanks to Davit and everyone contributing here, Please I'm eager to know if this system can be managed properly in small account (350 USD).
Hello. It is possible but will be slow going. The number of entries you can take per trade will be very limited. I started with around $500 and it was tedious. Things feel alot better once you get into the $1-2k range.
Process over outcome.
  • #22,086
  • Oct 30, 2018 7:56am Oct 30, 2018 7:56am
Quoting kingdavid15
Thanks to Davit and everyone contributing here, Please I'm eager to know if this system can be managed properly in small account (350 USD).
Like mizi123 says, it is possible, micro lots, 0.01.
  • #22,087
  • Oct 30, 2018 8:19am Oct 30, 2018 8:19am
Quoting Davit
{quote} I am looking at your gains and puzzled. How did you only make less then 14 dollars on 69pips 4trades .08 lot seems like lot of effort for peanuts.No offense I am just scratching my head here. Do you have 500 dollar account? that may explain it 69 pips divided with .80C equals 86 dollars minus spread fees whatever 80dollars What am I missing
Yes I indeed started with a $500 account in mid August it is current at $1,050.38 to be exact. Reason I started small is that I open account with other investment profits since I refuse to open with money from my pocket. Less stress. Besides I am still holding some EU and do not want to risk Margin.

I am very conservative and am taking small chunks rather than going for the HR. Some trades such as these I considered a bit risky as it is not inline with Method but when I see what I believe to be a good probability I take it in order to build the account size. Then around Tues or Wed I focus strictly on Method rules.

I learned from past mistakes to take profit quickly during NFP week and go in without an open trade then enter accordingly afterwards. This week will be an exception and will see once again results.

Besides I am a Yankee fan (still learning trading) maybe someday when I become more experienced I will become a Red Socks fan (Pro Trader)
Invest in Life
  • #22,088
  • Oct 30, 2018 8:21am Oct 30, 2018 8:21am
Quoting kingdavid15
Thanks to Davit and everyone contributing here, Please I'm eager to know if this system can be managed properly in small account (350 USD).
I started with 100€ account, now at 530€, However it seems that I lost my touch, I started to get greedy and now I'm struggling to continue earning, I have to say that I'm not losing either but its like I win then I lose... I hope I can get my shit together and keep on the earnings.

Of course trading 100€ account and 0.01 you will have to be extremely careful with your entries and averaging down only when super necessary or clear, you can end up losing the account quite quickly... Keep in mind that you will not see fancy numbers like +1000pips on screen as for you most probably will be just +60 so you need to see things in % of your current account more than just pips.

Kind Regards,
Jaime
Building a Freedom All Time Return: 5,178.8%
  • #22,089
  • Oct 30, 2018 8:26am Oct 30, 2018 8:26am
Quoting J1mm
{quote} ... Keep in mind that you will not see fancy numbers like +1000pips on screen as for you most probably will be just +60 so you need to see things in % of your current account more than just pips...
^Best advice for a small account and also really hard to do in practice. Focus on percent of equity gained rather than dollar amount.
Process over outcome.
  • #22,090
  • Oct 30, 2018 8:28am Oct 30, 2018 8:28am
NJ
hold to R38
ADR exhausted

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  • #22,091
  • Oct 30, 2018 8:39am Oct 30, 2018 8:39am
Quoting Chrysmere
{quote} ^Best advice for a small account and also really hard to do in practice. Focus on percent of equity gained rather than dollar amount.
I agree it is in fact very true see compare Davit and my AJ posts a couple pages back. BTW good seeing you.
Invest in Life
  • #22,092
  • Oct 30, 2018 8:56am Oct 30, 2018 8:56am
US Data print green so dollar is more likely going up
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THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #22,093
  • Oct 30, 2018 9:08am Oct 30, 2018 9:08am
Quoting Mundo
{quote} I agree it is in fact very true see compare Davit and my AJ posts a couple pages back. BTW good seeing you.
Likewise. Lol I just noticed your pip count vs. Davit's on AJ
Process over outcome.
  • #22,094
  • Oct 30, 2018 9:23am Oct 30, 2018 9:23am
Quoting Chrysmere
{quote} Likewise. Lol I just noticed your pip count vs. Davit's on AJ
I have to admit although he posts to encourage us there are times I see we have same trades and I want to kick myself for not adding more. Then I step back and remember this is hindsight...at the time of trade I did exactly what I intended to do otherwise I would have added more.

I say what Davit says it should be in line with my account. Also that as I progress I will become more confident on my trades decisions and as my account grows so will my trade entries. Requires a lot of patience but my past blown accounts keep reminding me what happens when I over trade and make bad decisions.

I remember a couple years back some of Davits trades where just 100 or so pips and he was just as thrilled as he is now. He knew if he continue to do what works he would be at this point soon enough. He kept mentioning 3 years time (which by the way is coming up).

I just have to stick with what works let it compound, and give it time to work itself out. I've witness it happen so it can happen to me. No need to change what works.
Invest in Life
  • #22,095
  • Oct 30, 2018 9:40am Oct 30, 2018 9:40am
G pairs are ridiculously over sold.
for fun I just played one of my most interesting chess games (white me)
Attached Images
In trading, you have to be defensive and aggressive at the same time
  • #22,096
  • Oct 30, 2018 9:58am Oct 30, 2018 9:58am
Quoting Davit
G pairs are ridiculously over sold. for fun I just played one of my most interesting chess games (white me) {image} {image} {image}
I agree, opportunities on the horizon, I really need to improve on patience, not only when in position but also waiting for position. I go through strong tense emotions even with a small account, I surpose it comes with experience and getting to a place where trading is boring and repeat a process over and over again.

i believe that I never had success with other methodology’s and this first time I have a standing chance however Rome wasn’t built in a day. The problem also with winning is euphoria that one encounter that can have a damaging effect. I think it’s time to read MD book bring a peg down or two.
  • #22,097
  • Oct 30, 2018 10:58am Oct 30, 2018 10:58am
we should see AJ and NJ drop.Nice opportunity to build longs again but key is UJ she must fall 1st to push crosses down
there are signs UJ is topped out
In trading, you have to be defensive and aggressive at the same time
  • #22,098
  • Oct 30, 2018 11:29am Oct 30, 2018 11:29am
Quoting Davit
we should see AJ and NJ drop.Nice opportunity to build longs again but key is UJ she must fall 1st to push crosses down there are signs UJ is topped out
UJ - @R61 i'm seeing a reversal sign,the price tried to make it higher but prior to this latest uptrend move I saw bearish diversion,your pivots are really helpful Davit.I have not seen anything stand up to this under any market conditions.
  • #22,099
  • Oct 30, 2018 11:57am Oct 30, 2018 11:57am
@Davit Mate I am so happy to see you back.

Cheers
Plan your trade and Trade your plan.
  • #22,100
  • Edited 1:31pm Oct 30, 2018 12:13pm | Edited 1:31pm
Quoting scsstnt
{quote} UJ - @R61 i'm seeing a reversal sign,the price tried to make it higher but prior to this latest uptrend move I saw bearish diversion,your pivots are really helpful Davit.I have not seen anything stand up to this under any market conditions.
61-100 is the zone to look for trade. 61 is the key zone. 78 is scott carney's last chance for reversal and 100 is another key zone. I personally don't take all 61 especially if the higher time frame does not support it. Couple with the fundamental aspect that favor dollar now UJ could go above 61. For me to take trade at 61 I must see a good PA at that level supported by angleator and TDI. I am just being conservative. Most time I don't just enter at 61 without other supporting elements and hoping to add when market get to 78 and 100. If however, there are supporting element and I enter at 61 and it continue to the next level I am always confidence to add without any fear. Angleator and TDI is not there for fun. I still use them most of the time. 61-100 is the trading zone so when price gets there I have enough time to plan without FOMO.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
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