Pivot Trading

Taking the other side,

Hi everyone hope you all in good and save during the pandemic, and have more time to access trading from home :-).

I am S - EA, price at pivot zone (61 - 100) and ADR High, yet pivot still works till now.. Thank you Davit..

green pips all...

Hi everybody, another win on EN 1.70%. This is the end of my first month trading Pivot Points seriously. Things I discovered so far after 1 month of live trading and 2 months of paper trading:
1- Davit is a great teacher and his system has amazingly high win/loss ratio
2- All A+ trades I took where near R/S78 and to me above R/S100 is a good place to accept that you were wrong and close the trade
3- I found that when there is a confluence of pivots and perfect round numbers the chance of reversals are higher
4- If there is a recent important horizontal S/R the chance increases even further
5- If the momentum decreases near pivots the chance of reversal increases way more higher (I only use price action to study momentum like when the candles start to get smaller, swings start to travel the previous distance with much less angle, and much more time and . . .)
5- If the reversal is in line with daily trend the chance is even higher (Honestly I didn't make things complicated for myself and ignored the daily trend)
6- As Davit said AUD,CAD,NZD are gold nuggets (for example if I see that EUR is getting weaker I prefer to trade EA,EN, and EC more than EU)
7- Studying the charts of Davit and other great minds here like Egbert is mind opening

Still struggling to learn fundamental analysis and news analysis and harmonic pattern recognition. But I'll get over it eventually. As MD said "All change is the function of desire".

Best Regards

Great Job with staying disciplined ebitalebi. One the most important thing I've been focused on recently is the power of leveraging. It's easy to get carried away once you start hitting trades regularly in wanting to increase buying power, but always remember to leverage appropriate amounts based on account size. It took me a couple of times of reading "bird watching in lion country" and some unnecessary DD to finally get the concept engraved in my brain. Just my thoughts though, not implying anything.

Also thanks a lot Egbert for sharing more educationally aspects of trading in addition to his awesome entries. Of course much praise for Davit, he's the master. Always learning from the great traders on this thread

Green pips everyone!

Ebitalebi , FANTASTIC POST !!!!!
GE

Ekim7 , FANTASTIC POST AS WELL !!!!
GE

My trade results..

Quit Review of Pivot Trading by Davit - July 2016

Thanks a lot Ekim and congratulations for having sharp eyes and deep understanding just by looking at my trades. You've just pointed to my biggest weakness. Large lot sizes has been my main weakness. Next week I'm going to to do something about it.

I plan to enter in four stages: stage one two 0.01 lots if the candle in m15 is in my favor I enter 2 more 0.01 and then one more after the third candle for the total of 0.05. If the price goes towards the R/S 78 I'll enter two more there. If it goes further towards R/S 100 I enter two more at the middle point of R/S 78-100. (Now I have 0.06 lot) Eventually if it reaches R/S 100 I'll enter four more there. (Now I have 0.1 lot) Now I have my biggest position near my stop loss (a close of two M30 candles above/below R/S100 or 5% whichever happens first). I think in this way I'm going to have both flexibility and risk management at the same time. The only downside to this method that I'm going to use for my next 30 trades is that the losers can be larger than winners. However, there are several reasons that I think this method is not very bad:

1- Davit method has a very high win/loss ratio so even if the losing trades are two times the wining ones I'm still making money
2- Pivot Trading are reversal trading in nature. Therefore there is a good possibility that you sell a top and that top turns out to be the start of a massive reversal trend and goes for hundreds of pips. So my entering method makes me benefit from that move nicely because I can close 80% of my positions and keep the ones I have at the top and ride the trend and collect pips.
3- My biggest position is near my stop loss so if I'm right I'm going to win big because I entered at the best price possible but if I lose I don't lose much because my biggest position was near the stop loss.
4- The same is true for wining trades. I enter 2 + 2 + 1 if the last one loses, my account won't take a lot of damage because the last one was the smallest in size.

I want to thank Davit again for building such a great community here.
I want to thank all great traders here for sharing their ideas and helping people like me especially Egbert for sharing his views on everything especially fundamental analysis (I became familiar with AK with the indirect help of Egbert and I'm learning a lot since)
I also want to thank GE for directing me to MD's "How to Think Like a Professional Trader" series. It is a gem.

Have a great weekend
Best Regards

EURUSD Short trade

Good morning pivot'er
New interesting week, new opportunities.

[quote=ebitalebi;13548936]{quote} Thanks a lot Ekim and congratulations for having sharp eyes and deep understanding just by looking at my trades. You've just pointed to my biggest weakness. Large lot sizes has been my main weakness. Next week I'm going to to do something about it. I plan to enter in four stages: stage one two 0.01 lots if the candle in m15 is in my favor I enter 2 more 0.01 and then one more after the third candle for the total of 0.05. If the price goes towards the R/S 78 I'll enter two more there. If it goes further towards R/S 100 I enter two more at the middle point of R/S 78-100. (Now I have 0.06 lot) Eventually if it reaches R/S 100 I'll enter four more there. (Now I have 0.1 lot) Now I have my biggest position near my stop loss (a close of two M30 candles above/below R/S100 or 5% whichever happens first). I think in this way I'm going to have both flexibility and risk management at the same time. The only downside to this method that I'm going to use for my next 30 trades is that the losers can be larger than winners. However, there are several reasons that I think this method is not very bad: 1- Davit method has a very high win/loss ratio so even if the losing trades are two times the wining ones I'm still making money 2- Pivot Trading are reversal trading in nature. Therefore there is a good possibility that you sell a top and that top turns out to be the start of a massive reversal trend and goes for hundreds of pips....

Ebitalebi , YOU MAKE US BETTER AS WELL !!! Great tip from Ekim7. The ability to be flexible and manage risk at the same time is an amazing feature of Pivot Point Trading.
GE

Thank you for the contribution DrForexMD. Very much appreciated.
GE

Thanks for your kind words. To be honest I've made many overtrading mistakes, even recently. But eventually you learn to not make the same ones and stay more focused on the big picture. There's a lot you can learn from "bird watching in lion country" and all MD content, in addition to all the great traders on this thread.

Shoutout to DrForexMD for his effort, I really appreciate those summarized PDFS of Davit's post, lots of gems in there to study.

This is for GBP_USD,

1. SURVEYS

CURRENT MARKET (CO-INCIDENT DRIVERS)

Injections and withdrawals,