Attachments: Pivot Trading

Pivot Trading

#38,501
May 24, 2021 5:09pm May 24, 2021 5:09pm

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

Quoting Davit

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Thank you guys for keeping this thread alive! Its important to get familiar with calendar.I say this like broken record but its true you must know what can possibly move the market and be in sink with it.Nothing like getting blown away because you didn't see it coming! Great chefs know character of the ingredients mediocre "chefs" clueless. I am still eyeing CAD and been getting in and out of CAD pairs.Been on AC NC EC and UC in fact have not traded anything else. Good luck! one of my works below {image}

Ignored

You should go on master chef lol

btw a true technical analysis will show you your fundamental analysis if you have the talent

#38,502
May 24, 2021 5:22pm May 24, 2021 5:22pm

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

Quoting DiamondMiner

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{quote} Wags, I'm liking your Bob Marley. Great likeness, you should take back up Sketching, you know what your doing. DM

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I would need better glasses

But maybe i should start again

Thanks

#38,503
May 24, 2021 5:23pm May 24, 2021 5:23pm

Pivoter
Joined Jan 2020 | Status: Trader | 512 Posts

Quoting Wags

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Leaving trading aside and joining in with the art theme Here is something i did 30 years ago ,, i always love to sketch but cannot paint to save my life lol Have not picked up a pencil for over 20 years now {image} Good luck this week to you all

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Inserted Video

the highest point comes before the fall

#38,504
May 24, 2021 5:29pm May 24, 2021 5:29pm

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

Quoting Pivoter

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{quote} https://www.youtube.com/watch?v=rf8GjhXvOjU

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Quality, so many good tracks

#38,505
May 24, 2021 6:16pm May 24, 2021 6:16pm

Wags
Joined Aug 2017 | Status: Trader | 1,609 Posts

One thing i would like to say!

I have never been a successful trader, maybe i have stumbled upon a successful strategy but never stuck with it and would nver know because i never stuck with it lol, or more importantly maybe i am not the kind of person who can do this as i was brought up to be a person to beleive that manual labour is the only way we can make money

I started out on BOE (which i loved) and made many freinds many years ago where everyone was trying the 1 minute chart with expiry 1 minute sometimes maybe test the 5 minute expiry lol, this was binary options and a main player was a guy who was when i look back was an amazing talent.

He (He was a he) sorry to even have to explain that but this is what has become of our normal conversation, It is easy to hedge your bets and only show your winners deceiving new people and making them think this person is a god of forex (not aimed at you davit) but i feel its easy to hedge and then show once loser results have been hidden

just my opinion

Wags

#38,506
May 24, 2021 7:07pm May 24, 2021 7:07pm

GreenEarth
Joined Dec 2016 | Status: Trader | 739 Posts

Quoting Wags

Disliked

One thing i would like to say! I have never been a successful trader, maybe i have stumbled upon a successful strategy but never stuck with it and would nver know because i never stuck with it lol, or more importantly maybe i am not the kind of person who can do this as i was brought up to be a person to beleive that manual labour is the only way we can make money I started out on BOE (which i loved) and made many freinds many years ago where everyone was trying the 1 minute chart with expiry 1 minute sometimes maybe test the 5 minute expiry lol,...

Ignored

Wags , I grew up in the exact same Family mindset. Manual labor , if you're not sweating for your pay you don't deserve it. I'm the only one in my Family that "looked around " to see that people who were using their brains made far more money. If you stick with this system , I cannot see how 99.99% of people can fail. Patience and consistency. "Make 10% a MONTH for 5 years and you will be Golden" , Davit said this and he is 100% correct.
GE

"Define the risk OUT of your trade"--Mark Douglas

#38,507
May 24, 2021 9:35pm May 24, 2021 9:35pm

Ekim7
| Joined Nov 2019 | Status: Having the time of my life | 70 Posts

Quoting Wags

Disliked

One thing i would like to say! I have never been a successful trader, maybe i have stumbled upon a successful strategy but never stuck with it and would nver know because i never stuck with it lol, or more importantly maybe i am not the kind of person who can do this as i was brought up to be a person to beleive that manual labour is the only way we can make money I started out on BOE (which i loved) and made many freinds many years ago where everyone was trying the 1 minute chart with expiry 1 minute sometimes maybe test the 5 minute expiry lol,...

Ignored

I agree it's definitely hard to stay disciplined at times. But the smaller you go in timeframe(esp.<5min), the closer trading is to gambling because the edge will be in favor of the big players/brokers. Pivots genuinely increase your edge and odds of success greatly, along with fundamentals of course. The only thing stopping you is yourself, the rest is probabilities.

It's really worth reading the thread from the beginning, or using PDFS to learn from Davit and other great traders on the thread. It's easy to post things but difficult to understand the meaning behind them.

You should really listen to what Davit says

#38,508
Edited May 25, 2021 3:56pm May 24, 2021 9:49pm | Edited May 25, 2021 3:56pm

ebitalebi
Joined Feb 2009 | Status: Trader | 168 Posts

Quoting Wags

Disliked

One thing i would like to say! I have never been a successful trader, maybe i have stumbled upon a successful strategy but never stuck with it and would nver know because i never stuck with it lol, or more importantly maybe i am not the kind of person who can do this as i was brought up to be a person to beleive that manual labour is the only way we can make money I started out on BOE (which i loved) and made many freinds many years ago where everyone was trying the 1 minute chart with expiry 1 minute sometimes maybe test the 5 minute expiry lol,...

Ignored

Same was here. However, one simple mindset changed everything for me 12 years ago when I accidentally read an article about how some gamblers could make fortunes using a loaded dice.
Every edge needs large enough sample size to show itself. For that I need to survive long enough. For example a casino has a slight edge over the gamblers but it has large enough initial capital to tolerate the losses until its edge show itself in the long run. What I did to train my brain back then was tossing coins and adding 1.5 to my account when it was head and subtracting 1 when it was tails. I didn't have an edge in win/loss ratios but my wins were 1.5 times larger. As you can expect I was able to grow my account on paper. The interesting part though was the drawdown. Sometimes I got 8 or even 10 tails in a row. I entered the results into an Excel spreadsheet and plotted an equity curve. But after 100 to 1000 tosses the account was consistently growing.
After that I changed the experiment I made a loaded dice and tried the same thing but with equal sizes for wins and losses. Positive 1 for even numbers and negative 1 for odd numbers. The dice was slightly heavier on one side that made number 4 to happen more frequently than 1/6th of the times. The results were the same as before but drawdowns were larger and the curve wasn't as smooth but when I tossed it 1000 times (I literally was that crazy and had free time) the curve became smooth and when I zoomed out it became smoother even more as if there was not any drawdowns. That was my aha moment.
By the way you can make yourself a loaded dice using the following article but don't make it too much loaded just enough to have a slight edge.
https://www.wikihow.com/Load-Dice

Best Regards

#38,509
May 25, 2021 4:12am May 25, 2021 4:12am

Egbert
Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,086 Posts

Morning,

Looking @ GBPNZD chart I suspect maybe a surprise from RBNZ tomorrow.

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We obey the structure that results from the market's reaction

#38,510
May 25, 2021 7:41am May 25, 2021 7:41am

ebitalebi
Joined Feb 2009 | Status: Trader | 168 Posts

Short trade on EG. Let's see what happens ...

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#38,511
May 25, 2021 8:27am May 25, 2021 8:27am

Egbert
Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,086 Posts

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We obey the structure that results from the market's reaction

#38,512
May 25, 2021 10:43am May 25, 2021 10:43am

Pivoter
Joined Jan 2020 | Status: Trader | 512 Posts

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the highest point comes before the fall

#38,513
May 25, 2021 12:00pm May 25, 2021 12:00pm

ebitalebi
Joined Feb 2009 | Status: Trader | 168 Posts

Quoting ebitalebi

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Short trade on EG. Let's see what happens ... {image}

Ignored

So far 1% profit.

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#38,514
Edited 1:19am May 26, 2021 12:56am | Edited 1:19am

Egbert
Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,086 Posts

Making lower highs,

Sell confirmed!

EUR_USD is not making higher highs

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We obey the structure that results from the market's reaction

#38,515
May 26, 2021 1:41am May 26, 2021 1:41am

ebitalebi
Joined Feb 2009 | Status: Trader | 168 Posts

Quoting Egbert

Disliked

Morning, Looking @ GBPNZD chart I suspect maybe a surprise from RBNZ tomorrow. {image} {image} {image}

Ignored

Wow. I do envy you Egbert. You're my inspiration to continue.

#38,516
May 26, 2021 1:43am May 26, 2021 1:43am

Egbert
Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,086 Posts

When trading one must know before trading what the big players are doing,

- Am I selling because of the big players taking profits (1)

- Or am I selling because of a trend change (2)

1, will be countertrend, then this trade will be short lived.
2, with the trend, keep this trade longer.

We obey the structure that results from the market's reaction