Pivot Trading | Page 1773 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Open Trade near Pivot line (Pivot Point) 16 replies

Weekly Pivot to Pivot Trading 19 replies

The Pivot Net Revisited (Weekly Pivot Net) 41 replies

Help with daily pivot, weekly pivot on MT4 3 replies

Pivot high - Pivot low MT4 3 replies

Attachments: Pivot Trading
Exit Attachments

Pivot Trading

  • #35,441
  • Mar 17, 2020 1:58pm Mar 17, 2020 1:58pm
Look how nicely it prevented to take a loser on UC.Even though its at 100R PA and price did not clear 21 MA
You did not take the potential loser.That's the whole idea eliminating early trades.
This is nothing new but its effective.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
  • #35,442
  • Mar 17, 2020 2:32pm Mar 17, 2020 2:32pm
Quoting Davit
Look how nicely it prevented to take a loser on UC.Even though its at 100R PA and price did not clear 21 MA You did not take the potential loser.That's the whole idea eliminating early trades. This is nothing new but its effective. {image}
Interesting Davit. I post charts on here for years that meet the specification you've put in place from MT4. However the charts I trade from on my Professional Trading Platform appear a lot different. So I'll take the Liberty and spill the beans to post a chart some of its proprietary so you can't get it on MT4 however I can show you a way I figured out to duplicate it as close as you can on MT4. I use an 8 EMA white line 21 EMA Red line 50 EMA Blue 200 SMA Keltner Bands and Bollinger Bands. Also the proprietary signal I use which has the Red Arrows generated is the Bulls N Bears which has its formula based upon Fibonacci. The reason I have the Keltner Bands Yellow and the Bollinger Bands on the chart is I can select different modes for the Bulls n Bears and use them to work with the bands. I find my best setups are with bulls n bears red arrows matching with ma arrows along pivot zones. I use zig zag, and volume side bars as well on the bottom I have RSI and Stochastic. MY pivot points are standard I can have Daily, Weekly, and Monthly. I have been using some of these settings on Ma's on Stocks for close to 20 years now. It allows me at a quick glance when I go into longer time frames to see where something is at. My price bars have 3 different colors which the Fibonacci based program changes the colors on Green is up Yellow is Neutral and Red is down. This market is wild right now some of my best setups come when the red fib arrows and the green Ma arrows line up or are within a couple of bars of each other.
Attached Image (click to enlarge)
Click to Enlarge Name: US 30 M3 chart.png Size: 94 KB
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,443
  • Mar 17, 2020 2:39pm Mar 17, 2020 2:39pm
Quoting Romanov102
{quote} Interesting Davit. I post charts on here for years that meet the specification you've put in place from MT4. However the charts I trade from on my Professional Trading Platform appear a lot different. So I'll take the Liberty and spill the beans to post a chart some of its proprietary so you can't get it on MT4 however I can show you a way I figured out to duplicate it as close as you can on MT4. I use an 8 EMA white line 21 EMA Red line 50 EMA Blue 200 SMA Keltner Bands and Bollinger Bands. Also the proprietary signal I use which has the...
Hi friend if its working for you for 20yrs why change it! I like the simplicity of "less is more" Pivot+MA rest are Pa and Events.
I played both BB and envelops and did not suit me.In fact had a journal with BB on my charts 5yrs ago.
Keeping is simple.Thank you for your feedback though.

CAD crashing I bet everything is gonna cost more up there.I remember in 2015 highs people could not afford simple vegies
In trading, you have to be defensive and aggressive at the same time
  • #35,444
  • Mar 17, 2020 2:56pm Mar 17, 2020 2:56pm
Mt4 I set the price bars to Heikin-Ashi and turn the PSAR on and set it as displayed this allows me to identify certain patterns like very often you'll see a 3 drive up pattern followed by a reversal. As for MA's the most powerfully setup I've found on average is 8 and 21 EMA I like to have 50 and 200 on just for reference. With my platform I can also tune any pair by backtesting it over a timeframe and determine if that pair has a better set of MA's that work for it. As most traders know about the Golden and Black Death crosses so I like to be aware of them. The gentleman that created the platform that I trade from has a wealth of free videos on youtube many of them quite educational for traders here's a link to the youtube channel. https://www.youtube.com/channel/UCJK...40G2TVCU0cbHuw
Attached Image (click to enlarge)
Click to Enlarge Name: MT4 M5 sample PSAR.png Size: 129 KB
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,445
  • Mar 17, 2020 3:05pm Mar 17, 2020 3:05pm
Quoting Davit
{quote} Hi friend if its working for you for 20yrs why change it! I like the simplicity of "less is more" Pivot+MA rest are Pa and Events. I played both BB and envelops and did not suit me.In fact had a journal with BB on my charts 5yrs ago. Keeping is simple.Thank you for your feedback though. CAD crashing I bet everything is gonna cost more up there.I remember in 2015 highs people could not afford simple vegies
Agreed it has to be kept simple and you have to have a universal system so everyone is on the same page otherwise you have a shit show of charts on that make no sense. This is what my first charts looked like before PC's I used to read the Globe &Mail or the Financial Post look at prices and work off numbers. I'd call the broker and then place a trade. Then it progressed to telebanking where I could actually phone a stock trade in and execute a buy or sell or check on my portfolio value. Only $29.95 commission to buy or sell LOL.
Attached Image
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,446
  • Mar 17, 2020 3:20pm Mar 17, 2020 3:20pm
Quoting Davit
feel free to raise your opinions its totally fine pro/ con
Hi Davit,

sorry, what 8EMA stands for ?

21MA it's clear, 8EMA seems is not used.
Porta itineris dicitur longissima esse
  • #35,447
  • Mar 17, 2020 3:40pm Mar 17, 2020 3:40pm
Quoting bubincka
{quote} Hi Davit, sorry, what 8EMA stands for ? 21MA it's clear, 8EMA seems is not used.
Exponential Moving Average.
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,448
  • Mar 17, 2020 3:47pm Mar 17, 2020 3:47pm
Quoting Romanov102
{quote} Exponential Moving Average.
Hi Romanov102, this I know.
My question is why we use the 8 period ema if we look for ma 21 clearing.
Porta itineris dicitur longissima esse
  • #35,449
  • Mar 17, 2020 3:48pm Mar 17, 2020 3:48pm
Quoting Davit
{quote} Hi friend .... Keeping is simple.Thank you for your feedback though. CAD crashing I bet everything is gonna cost more up there.I remember in 2015 highs people could not afford simple vegies
Davit , what has amazed me through all of this is the injection of TRILLIONS of dollars Worldwide into various markets , the "FINANCIAL GURU'S" are arguing about what is correct and incorrect. Icahn said on TV the other day that these people "don't have a clue..." how to handle this.
I have not heard one word from Buffett , not that I would care anyway.
Canada will be decimated , no question. Already well on our way there.
If all businesses and workers were taxed at a reasonable level , in every Country , we wouldn't be in this mess in my opinion.
The people I have the most respect for with respect to money are right here on this thread.
Collectively , I believe that we could operate a debt free World. I guess the Wall Streeter's aren't so smart after all , again. They got it all wrong in every recession which they created.
Boeing needs a bailout , ARE YOU FREAKIN KIDDING ME !!!! FIRE THE BOSSES , KEEP THE EMPLOYEE'S and let them run the Business , they will turn it around within a matter of months.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #35,450
  • Mar 17, 2020 3:58pm Mar 17, 2020 3:58pm
Quoting bubincka
{quote} Hi Romanov102, this I know. My question is why we use the 8 period ema if we look for ma 21 clearing.
What is Exponential Moving Average - EMA?
An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent price changes than a simple moving average (SMA), which applies an equal weight to all observations in the period.

EMA puts more weight at present data hence less lagging.There is fine balance we need lag to keep us away from early entry but not too much as miss a trade by wide margin. EMA suits the best.Think of 8EMA as yellow in traffic light and 21 as green or red. 8 is "heads up"
So If price is at R61 and 15 chart price crossed 8EMA heading to 21 I will be all eyes as possible trade option once cleared 21
Simple.Sure as always there will be losers but that's true on all systems.
I like how AN is closing nice.
In trading, you have to be defensive and aggressive at the same time
  • #35,451
  • Mar 17, 2020 4:10pm Mar 17, 2020 4:10pm
Quoting GreenEarth
{quote} Davit , what has amazed me through all of this is the injection of TRILLIONS of dollars Worldwide into various markets , the "FINANCIAL GURU'S" are arguing about what is correct and incorrect. Icahn said on TV the other day that these people "don't have a clue..." how to handle this. I have not heard one word from Buffett , not that I would care anyway. Canada will be decimated , no question. Already well on our way there. If all businesses and workers were taxed at a reasonable level , in every Country , we wouldn't be in this mess in my...
I am not an economist but I know once you are separated Gold as a peg from money then basically there is no ceiling you can print as much as Feds want because cost will be pass over to next gen and they might pass over to next.Kind of endless debt.
Number is too big anyway can't be repaid in our lifetime or next 500, I suspect in not so distant future we are going to go cryptocurrencies
Another fact is all developing countries have debt and Japan is on top therefore when everyone is printing then you are in the "club" same boat sort of speak why I am not worried about it.If the cards fall all the countries will fall as well.
In trading, you have to be defensive and aggressive at the same time
  • #35,452
  • Mar 17, 2020 4:12pm Mar 17, 2020 4:12pm
Quoting Davit
{quote} What is Exponential Moving Average - EMA? An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent price changes than a simple...
Understood, thank you.
Porta itineris dicitur longissima esse
  • #35,453
  • Mar 17, 2020 4:20pm Mar 17, 2020 4:20pm
Quoting bubincka
{quote} Hi Romanov102, this I know. My question is why we use the 8 period ema if we look for ma 21 clearing.
If you use 2 MAs normally you don't use crosses as reference. Davit want use a kind of strength gauge. It's the most powerful way using MAs. But he want wait pivot + fast MA going to slow MA and maybe wait a cross of both.

Anyway as I use similar approach a few years I can tell you can use fast MA as SL/TP or for see where is pullback limit in a strong trend. Really it's a flexible setup
Try don't lose pants never...
  • #35,454
  • Mar 17, 2020 4:24pm Mar 17, 2020 4:24pm
At present only trade I have is AN long and holding on to it.It got great potential.We'll see this week
Already went 30 pips to parity hence I think worse is over.
In trading, you have to be defensive and aggressive at the same time
  • #35,455
  • Mar 17, 2020 4:42pm Mar 17, 2020 4:42pm
Quoting Davit
{quote} I am not an economist but I know once you are separated Gold as a peg from money then basically there is no ceiling you can print as much as Feds want because cost will be pass over to next gen and they might pass over to next.Kind of endless debt. Number is too big anyway can't be repaid in our lifetime or next 500, I suspect in not so distant future we are going to go cryptocurrencies Another fact is all developing countries have debt and Japan is on top therefore when everyone is printing then you are in the "club" same boat sort of speak...
Sad but true Davit. I was raised in a family where you paid as you go , no debt. I guess it's why I have never understood the concept of passing debt onto future generations.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #35,456
  • Mar 17, 2020 4:50pm Mar 17, 2020 4:50pm
Quoting Davit
At present only trade I have is AN long and holding on to it.It got great potential.We'll see this week Already went 30 pips to parity hence I think worse is over.
Australian PM about to deliver an early morning press conference about new steps and process to combat Covid-19 from health and economy point of view. Hold on!!!
Stay green!!!
  • #35,457
  • Mar 17, 2020 6:37pm Mar 17, 2020 6:37pm
EURCAD 30 MINUTE BEARISH DEEP CRAB 17 MARCH 2020

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD 30 MINUTE BEARISH DEEP CRAB 17 MARCH 2020.png Size: 269 KB


TP hit while I was at work
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD 30 MINUTE TP HIT 18 MARCH 2020.png Size: 217 KB


Best regards
  • #35,458
  • Mar 17, 2020 7:36pm Mar 17, 2020 7:36pm
Quoting Davit
Lot of pairs are respecting key pivots GU bounced from S61 EU touched S61 then bounced North AU little lower then S61 EG right on the R61 Pivot principles still strong that's why I am confident we are going to make money lots of it.I want to share what I've been working on as filter. Will monitor trades for two weeks but so far happy with it. Idea is to focus daily weekly and closed all trades by Friday.Even though I have been anti MA reality is there is nothing else that I like. Dashboards are based on MA's so why not use it what it is. I am using...
Just took 2 trades based on pivots with ma as filter on 15 min. Long AUDUSD and short EURGBP
  • #35,459
  • Mar 17, 2020 7:48pm Mar 17, 2020 7:48pm
Quoting Romanov102
{quote} No one gets it! We are currently sailing in uncharted waters. I've traded now for 39 years and I've been through the 80 crisis, dot comm bubble, oil collapse, 2008, And I've never seen anything like this. Although if you recall from some of my previous posts going back to last year these markets are not making sense. BDI Index was down, Transportation sector was way down with major trucking companies going bankrupt in the USA. These are the proverbial Canaries in the Coal mine. I and many others thought the market was overcooked and now...
The market is the same no different than any other trading day except for the much higher volatility which directly affects the stop loss. Trades require a larger than normal stop loss while the take profit is equally larger. If you use your original sl your trade gets taken out even if you are right. Cost of trades due to larger sl has gone up. This means the trader has to recalibrate his sl in this volatile market.
Know what you trade
  • #35,460
  • Edited 8:34pm Mar 17, 2020 8:06pm | Edited 8:34pm
Quoting braintheboss
{quote} If you use 2 MAs normally you don't use crosses as reference. Davit want use a kind of strength gauge. It's the most powerful way using MAs. But he want wait pivot + fast MA going to slow MA and maybe wait a cross of both. Anyway as I use similar approach a few years I can tell you can use fast MA as SL/TP or for see where is pullback limit in a strong trend. Really it's a flexible setup
There are tons of questions to answer when the trader uses MAs.

What MA, SMA, EMA, LWMA, TMA... ?
What parameter, 3,5,12,21,50,100,200... ?
Single MA, dual MA, triple MA, quadruple MA... ?
Price cross MA, MA1 Cross MA2... ?
What does price re-represented by MA(statistical representation) mean?
What's the purpose of re-representing ohlc price with statistical MAs?
What governs the choice of the chosen MA, calibration and usage?
Basically what additional info MAs give that price doesn't?
What additional info the trader seek that can't be found from price?
And so on.....

Mostly MAs are used without proper in-depth research, it's mere optical illusion(looks good to the eye) whether to pull the trigger or not - a psychological crutch.
Know what you trade
17 traders viewing now