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Pivot Trading

  • #41,561
  • Jan 19, 2023 10:13am Jan 19, 2023 10:13am
Quoting trumpaline
hi im new to this threaad, so far i am in around page 20 something. I want to ask, do you all trade with the overall higher timeframe trend? or do you find the 61,78,100 levels are just as good for counter trend trading also? So for example if higher timeframe price is overall bullish, do you look for price at support levels only for setup?
Hi, everything is described in the thread. Read it honestly and you don't have to ask useless questions that have already been answered several times.
It's not a dream. Chipsa is real!
  • #41,562
  • Jan 19, 2023 10:16am Jan 19, 2023 10:16am
Quoting trumpaline
{quote} May i ask if this is the same pivot levels that davit use? and can i please have the TV link to the indicator? Thanks so much
Same answer as above. Plenty of people are happy to give you advice, no one here is arrogant etc... But if no one reads the thread and just keeps asking questions, we'll go around in circles and it'll be a mess.
Good luck reading
It's not a dream. Chipsa is real!
  • #41,563
  • Jan 19, 2023 11:35am Jan 19, 2023 11:35am
Quoting E7i
{quote} I've looked through your profile and all your trade images you've posted since last year, and man I like the way you're adding your stop losses, cutting the losses super short but letting the profits run nicely, hence the super low drawdowns. I probably won't add hard stop losses myself but your money managements super nice!
Thanks recognising this and taking the time to feedback. It hasn't always been this way, I used to trade with very wide stops or no stops at all and that lead to severe DD so I had to make changes to way I trade and now I try to stick to using tight stops with the view that if I get stopped out I look to get back in at a better price.
Successful trading is intrinsic to risk management and discipline
  • #41,564
  • Jan 19, 2023 12:48pm Jan 19, 2023 12:48pm
small gains for today, drawdown in cad still crosses, but a nice correction could follow next week.

cad is still very stretched and the possibility is growing that he will turn around after good news.
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the highest point comes before the fall
  • #41,565
  • Jan 19, 2023 2:08pm Jan 19, 2023 2:08pm
closed EC and EA
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  • #41,566
  • Jan 20, 2023 2:58am Jan 20, 2023 2:58am
Thanks Davit for having this amazing thread. I am new here and read most of the posts as much as I could now I have a good idea about the trading system. I will start posting my result once I start trading
  • #41,567
  • Jan 20, 2023 6:33am Jan 20, 2023 6:33am
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Successful trading is intrinsic to risk management and discipline
  • #41,568
  • Jan 20, 2023 6:36am Jan 20, 2023 6:36am
I was short GA yesterday and closed in small profit before i went to bed.. Wish I'd held it this morning.
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Successful trading is intrinsic to risk management and discipline
  • #41,569
  • Jan 20, 2023 7:26am Jan 20, 2023 7:26am
Quoting nittohanns
{image}
It looks like a good area to go SHORT
  • #41,570
  • Jan 20, 2023 7:33am Jan 20, 2023 7:33am
I am short on EC
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  • #41,571
  • Edited 11:21am Jan 20, 2023 10:26am | Edited 11:21am
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It's not a dream. Chipsa is real!
  • #41,572
  • Jan 20, 2023 11:12am Jan 20, 2023 11:12am
Finishing on top - that's the main thing

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Successful trading is intrinsic to risk management and discipline
  • #41,573
  • Jan 20, 2023 12:08pm Jan 20, 2023 12:08pm
Now Weekend

still drawdown with some cad pairs, I'll wait and see what happens next week
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the highest point comes before the fall
  • #41,574
  • Jan 20, 2023 12:52pm Jan 20, 2023 12:52pm
Hello guys, it s ok to open trades counter trend on this strategy? I should follow the trend on tf daily/4h/1h ..lets say it s bullish , i have to open of course with price action confirmation buy trades on S2,S3,... ?
  • #41,575
  • Jan 20, 2023 3:13pm Jan 20, 2023 3:13pm
Hello Davit and Fellow Traders,

I am new on this thread and need your suggestions, to learn this system do I need to read 2079 pages, not impossible but if I can save some of my time.
If you believe in yourself anything is possible !!
  • #41,576
  • Jan 20, 2023 3:27pm Jan 20, 2023 3:27pm
Quoting Davit
so far today.Still have trades going so may change AN was a dud glad got rid of it.Not a pair I like much...Moves like a turtle...It was a mistake on my part.Happens! If you cant take a loss you cant trade period! {image}
I am here to learn this "If you cant take a loss you cant trade period!"

I made fortune in the Forex and lost everything due to ego and not accepting losses, opening unwanted trades and with bigger lots as a revenge trading.
If you believe in yourself anything is possible !!
  • #41,577
  • Edited 10:10pm Jan 20, 2023 7:33pm | Edited 10:10pm
Quoting imifx
Hello Davit and Fellow Traders, I am new on this thread and need your suggestions, to learn this system do I need to read 2079 pages, not impossible but if I can save some of my time.
Long story short.
Reading the first 100 pages, and then practising on a live account and just watching how charts react around Pivots is how I would recommend it.


---
Short story long.
I've recently started trading this strategy.
I started in December. Took a week to get through the first 100 pages and take full notes, and also went through other Forex factory threads that are based on this strategy. I've found PDF's that people kindly wrote, and I read them too. Understood the strategy thoroughly. Of course, learning and doing is different. I have been since using the strategy on a live account, it's been a month. (Davit has said many times that a demo is basically useless). So far the strategy is working really well. I am currently 227 pages in so far but most of it is people asking the same questions again and again. First 100 was very useful and full of useful examples. After that, one realises it's the same examples over and over, which helps drill everything in.
  • #41,578
  • Jan 21, 2023 12:45pm Jan 21, 2023 12:45pm
Quoting imifx
{quote} I am here to learn this "If you cant take a loss you cant trade period!" I made fortune in the Forex and lost everything due to ego and not accepting losses, opening unwanted trades and with bigger lots as a revenge trading.
Think of it differently.You already made great money from forex and you know it can be done by Yourself!and now do it again minus the severe mistakes.
To make you feel better Jesse Livermore blew his account 3x and according many he was greatest trader ever lived!
Plow ahead!

As an inventor, Edison made 1,000 unsuccessful attempts at inventing the light bulb.
When a reporter asked, "How did it feel to fail 1,000 times?"
Edison replied,
"I didn’t fail 1,000 times. The light bulb was an invention with 1,000 steps."
In trading, you have to be defensive and aggressive at the same time
  • #41,579
  • Jan 22, 2023 12:25pm Jan 22, 2023 12:25pm
Hello Davit,
Thanks for sharing this amazing system!!
Please do you have Mql5 version of the indicators you uploaded at the beginning of the tread?
  • #41,580
  • Jan 23, 2023 2:09am Jan 23, 2023 2:09am
Reason behind EURUSD jump perhaps

- Which I feel is still overextended
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