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Pivot Trading

  • #38,701
  • Edited 6:52am Jun 29, 2021 6:40am | Edited 6:52am
Quoting R61
Closely watching AC NC to load longs! {image}

How do you play it?

1, enter if you like setup on s38 and get in and enter before candle closes if using m30/h1 but maybe some drawdown or moves on to s61 and enter again

2, wait for candle close and maybe lose some pips towards your target or if it goes to far leave it completely

I am sort of an option 1 bias

NC i like the look of the 86300 area

AC i like 92880

Maybe drop further, i will wait
  • #38,702
  • Jun 29, 2021 7:36am Jun 29, 2021 7:36am
Quoting Wags
{quote} How do you play it? 1, enter if you like setup on s38 and get in and enter before candle closes if using m30/h1 but maybe some drawdown or moves on to s61 and enter again 2, wait for candle close and maybe lose some pips towards your target or if it goes to far leave it completely I am sort of an option 1 bias NC i like the look of the 86300 area AC i like 92880 Maybe drop further, i will wait
and the other part.. when do you get out in this case scenario?

TP on pivot? or you follow the trend on m15-m30?
- If you plant corn, you get corn
  • #38,703
  • Jun 29, 2021 7:43am Jun 29, 2021 7:43am
Quoting Mastropiero
{quote} and the other part.. when do you get out in this case scenario? TP on pivot? or you follow the trend on m15-m30?

I use adr or S/D areas but it is said that exiting and managing your trades is a personal thing which you develope as you go along according to the thread i believe
  • #38,704
  • Jun 29, 2021 9:21am Jun 29, 2021 9:21am
Quoting R61
Closely watching AC NC to load longs! {image}
You are small group of traders here who get what I am doing here.Kudos to you
In trading, you have to be defensive and aggressive at the same time
  • #38,705
  • Jun 29, 2021 9:22am Jun 29, 2021 9:22am
Quoting Mastropiero
{quote} and the other part.. when do you get out in this case scenario? TP on pivot? or you follow the trend on m15-m30?
you obviously either dont read this thread or prefer being spoon fed
In trading, you have to be defensive and aggressive at the same time
  • #38,706
  • Jun 29, 2021 9:25am Jun 29, 2021 9:25am
Quoting Wags
{quote} How do you play it? 1, enter if you like setup on s38 and get in and enter before candle closes if using m30/h1 but maybe some drawdown or moves on to s61 and enter again 2, wait for candle close and maybe lose some pips towards your target or if it goes to far leave it completely I am sort of an option 1 bias NC i like the look of the 86300 area AC i like 92880 Maybe drop further, i will wait
Advise to you.Pivot trading requires total commitment so you can see things clearly obviously you are trading other systems methods.I find mixing systems dont work.
Mixing Chinese with Italian food does not work results end up both unpalatable.Your questions have been answered many times here.
In trading, you have to be defensive and aggressive at the same time
  • #38,707
  • Edited 3:32pm Jun 29, 2021 12:06pm | Edited 3:32pm
Quoting R61
Closely watching AC NC to load longs! {image}
Closed NC +127
I may reload on a dip if conditions meet.
Attached Image


Quoting Wags
{quote} How do you play it? 1, enter if you like setup on s38 and get in and enter before candle closes if using m30/h1 but maybe some drawdown or moves on to s61 and enter again 2, wait for candle close and maybe lose some pips towards your target or if it goes to far leave it completely I am sort of an option 1 bias NC i like the look of the 86300 area AC i like 92880 Maybe drop further, i will wait
I probably go with the 1st option.

At the S38 zone I entered only with 30% of what I was willing to enter, the rest of my troops was ready if price got to S61 or below.
For pairs like NC that have a low ADR range, I look for opportunities on M15 timeframe, but for EN, for example, I use M30 and H1. This is just me.

Quoting Mastropiero
{quote} and the other part.. when do you get out in this case scenario? TP on pivot? or you follow the trend on m15-m30?
As Wags pointed out, this is personal, only you know how to manage your trades.
For me, 15 to 30 pips is fine, but if I see a trade with more potential (with PA and Fundamentals on my side..) I may wait longer.

Each trade is different, as Mark Douglas says: Every moment in market is unique.
I hope I made myself clear.

Watching EA.
"In the end you only trade yourself."
  • #38,708
  • Jun 29, 2021 12:17pm Jun 29, 2021 12:17pm
Quoting Davit
{quote} Advise to you.Pivot trading requires total commitment so you can see things clearly obviously you are trading other systems methods.I find mixing systems dont work. Mixing Chinese with Italian food does not work results end up both unpalatable.Your questions have been answered many times here.

Im actually not trying to mix systems at the moment, i am trying to grasp the methods you and other successful pivot traders are using

I admit its hard to lose some habits which you are obviously picking up on, such as my reply to r61

You have to take into consideration i have been trading different systems for the last 8 plus years, morning,noon and night

So it might be harder for me in someways than a newer trader who takes this on from the start

I will read through the thread from now on as i know it can be frustrating answering the same questions over and over again

PS: i dont think anyone who could see the actual time and hours i have spent on trading could argue with my commitment

Its not easy starting fresh with a 100% open mind
  • #38,709
  • Jun 29, 2021 1:30pm Jun 29, 2021 1:30pm
Closed NC nice overall gain for the account for today+6.76% flat no open trades
week so far almost 14% equity gain
Attached Images
In trading, you have to be defensive and aggressive at the same time
  • #38,710
  • Jun 29, 2021 1:36pm Jun 29, 2021 1:36pm
Quoting Wags
{quote} Im actually not trying to mix systems at the moment, i am trying to grasp the methods you and other successful pivot traders are using I admit its hard to lose some habits which you are obviously picking up on, such as my reply to r61 You have to take into consideration i have been trading different systems for the last 8 plus years, morning,noon and night So it might be harder for me in someways than a newer trader who takes this on from the start I will read through the thread from now on as i know it can be frustrating answering the same...
Its not just Pivots there is also ADR H/L, Opening price and what market is doing.System is designed to be flexible and adaptable.
More I trade less important "price action" is. Suppose you only had to look at line price could you make money? Answer is YES !
My point is Pivots, ADR ,opening Price, Events, fundamentals covers everything that can give you an edge.I no longer pay attention to candle formations not a decisive factor or factor at all in my trading.Your Edge is YOU!
In trading, you have to be defensive and aggressive at the same time
  • #38,711
  • Jun 29, 2021 1:43pm Jun 29, 2021 1:43pm
Quoting Davit
{quote} Its not just Pivots there is also ADR H/L, Opening price and what market is doing.System is designed to be flexible and adaptable.
I 100% look at most of what you just said, especially opening price and ADR

H/L weekly i also look at as well and market overall picture

I also see daily, h4 structure in h1/m30 TF and also timeframes not available in mt4
  • #38,712
  • Jun 29, 2021 1:45pm Jun 29, 2021 1:45pm
Quoting Wags
{quote} I 100% look at most of what you just said, especially opening price and ADR H/L weekly i also look at as well and market overall picture I also see daily, h4 structure in h1/m30 TF and also timeframes not available in mt4
Then why didn't you take NC long? R61 and I took it.Banked it.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADH4.png Size: 57 KB
In trading, you have to be defensive and aggressive at the same time
  • #38,713
  • Jun 29, 2021 1:47pm Jun 29, 2021 1:47pm
Quoting Davit
{quote} Then why didn't you take NC long? R61 and I took it.

Because i am not confident enough in my mind, i have to release my fear

Price was well below on previous week
  • #38,714
  • Jun 29, 2021 1:50pm Jun 29, 2021 1:50pm
Quoting Wags
{quote} Because i am not confident enough in my mind, i have to release my fear Price was well below on previous week
One way to gain confidence and less stress is reduce position size.I know your account is less then 200dollars so that's a factor too.It hinders trading.
Reduce and relax
In trading, you have to be defensive and aggressive at the same time
  • #38,715
  • Jun 29, 2021 1:53pm Jun 29, 2021 1:53pm
Quoting R61
{quote} Closed NC +127 I may reload on a dip if conditions meet. {image} {quote} I probably go with the 1st option. At the S38 zone I entered only with 30% of what I was willing do enter, the rest of my troops was ready if price got to S61 or below. For pairs like NC that have a low ADR range, I look for opportunities on M15 timeframe, but for EN, for example, I use M30 and H1. This is just me. {quote} As Wags pointed out, this is personal, only you know how to manage your trades. For me,...
You are doing great! Reloading etc.That's what I like to see logical thinking.Its one thing reading another doing! Good job!
In trading, you have to be defensive and aggressive at the same time
  • #38,716
  • Jun 29, 2021 1:56pm Jun 29, 2021 1:56pm
Quoting Davit
{quote} One way to gain confidence and less stress is reduce position size.I know your account is less then 200dollars so that's a factor too.It hinders trading. Reduce and relax
Ok i have to let go completely and start a fresh

Lose everything to learn, if i do not do this then i will fail

Clean slate
  • #38,717
  • Jun 29, 2021 2:26pm Jun 29, 2021 2:26pm
Quoting Davit
{quote} Then why didn't you take NC long? R61 and I took it.Banked it. {image}

If i had seen this i would have taken it

Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADH4.png Size: 57 KB
  • #38,718
  • Jun 29, 2021 5:58pm Jun 29, 2021 5:58pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Quoting Wags
{quote} Ok I have to let go completely and start a fresh Lose everything to learn, if I do not do this then i will fail Clean slate
In the one book Bird watching in Lion country, they go over leveraging pretty well. Each 0.01, Micro lot, gives you $1000 worth of buying power. It recommends you should never risk more than 3:1. If you trade with a $500 account your leverage is automatically 2:1 if you enter a microplot.
You should really listen to what Davit says
  • #38,719
  • Jun 29, 2021 6:00pm Jun 29, 2021 6:00pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
My last month I've been usually less than 3:1 with a recently larger funded capital size. Still able to hit around 12%. Davit has said many times to trade what you're comfortable with.
I started a new job, so I'm done for the month. I'll be sure to trade still, but I'll aim for larger ranges with more spread out entries, until I get used to the rhythm of my new job. Green Pips everyone!
Attached Image
You should really listen to what Davit says
  • #38,720
  • Jun 29, 2021 11:00pm Jun 29, 2021 11:00pm
Quoting Ekim7
{quote} In the one book Bird watching in Lion country, they go over leveraging pretty well. Each 0.01, Micro lot, gives you $1000 worth of buying power. It recommends you should never risk more than 3:1. If you trade with a $500 account your leverage is automatically 2:1 if you enter a microplot.

Thanks i will take a look
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