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Pivot Trading

  • #41,661
  • Jan 26, 2023 12:15pm Jan 26, 2023 12:15pm
Quoting Davit
{quote} You have 4 CAD positions.You got lucky but could of easily been 4x Red on same currency.You need to correct this

Do you think I should trade more of a mixed pair to share the risk?
the highest point comes before the fall
  • #41,662
  • Jan 26, 2023 12:19pm Jan 26, 2023 12:19pm
Quoting rupasi
{quote} Hi Davit, No, I don't use them to guide my trading. When you and others post trades that have already closed, you add arrows and lines to show the trade after the fact. EC closed before I could get a screen shot so I was trying to recreate my trade. The examples to post are excellent tools for learning so I try to do that too. As I am still learning, even though I am not new to this game, always learning.
Two ways to do it

1 click on accounts
2.Open chart
3.Drag and drop closed trades on chart.

Easy way upload this indicator simply drag on chart
indicator goes in indicator folder
Attached File(s)
File Type: ex4 XXXX Trades.ex4   12 KB | 623 downloads
In trading, you have to be defensive and aggressive at the same time
  • #41,663
  • Jan 26, 2023 12:21pm Jan 26, 2023 12:21pm
Quoting Pivoter
{quote} Do you think I should trade more of a mixed pair to share the risk?
Yes
You compounded the risk 4x Its basically trading same CAD on 4 different currencies however that's not good.Max I do is 2 and that's rare.
If you like the CAD choose the weakest pair against the CAD example EC then you could increase the lot size but I would not trade CAD all over the board.
Your mindset should be always managing the risk and reducing exposure.
In trading, you have to be defensive and aggressive at the same time
  • #41,664
  • Jan 26, 2023 12:21pm Jan 26, 2023 12:21pm
hi. nice thread.
what do you think about last usdzar candle on h1 timeframe? i'd see the false falling now. prefer to believe it'll grow tomorrow.
  • #41,665
  • Jan 26, 2023 12:23pm Jan 26, 2023 12:23pm
also for my forecast there's falling on usdmxn. i prefer see bearish movement.
  • #41,666
  • Jan 26, 2023 12:28pm Jan 26, 2023 12:28pm
Quoting Nicco31
hi. nice thread. what do you think about last usdzar candle on h1 timeframe? i'd see the false falling now. prefer to believe it'll grow tomorrow.
Why would you trade USDZAR? The spread on it is enormous
You should stick to pairs that are 2-4pip spread. Seems like you are a rookie to this game.
In trading, you have to be defensive and aggressive at the same time
  • #41,667
  • Jan 26, 2023 12:33pm Jan 26, 2023 12:33pm
Quoting Davit
{quote} Ja, Sie haben das Risiko 4x erhöht. Es handelt sich im Grunde genommen um denselben CAD in 4 verschiedenen Währungen, aber das ist nicht gut. Ich mache maximal 2 und das ist selten. Wenn Ihnen der CAD gefällt, wählen Sie das schwächste Paar gegen den CAD-Beispiel-EC, dann könnten Sie die Losgröße erhöhen, aber ich würde CAD nicht auf ganzer Linie handeln. Ihre Denkweise sollte immer darauf ausgerichtet sein, das Risiko zu managen und die Exposition zu reduzieren.
You are right, I can understand what you mean, the reason why I traded so much cad was that I still had many positions from last week that were in drawdown, some were finally closed today, but some are still open, e.g . gc , ec because i think the cad was very oversold on some pairs and could now gain strength, a nice correction just from a market technical point of view
the highest point comes before the fall
  • #41,668
  • Jan 26, 2023 12:34pm Jan 26, 2023 12:34pm
Quoting Davit
{quote} Why would you trade USDZAR? The spread on it is enormous You should stick to pairs that are 2-4pip spread. Seems like you are a rookie to this game.
i trade different pair. exotics as well.
  • #41,669
  • Jan 26, 2023 1:23pm Jan 26, 2023 1:23pm
Quoting Davit
Obviously trading is challenging and why most lose.Why I designed this system that has real Edge.Several traders use this system managing funds like Pipmaster77 Once AU drops below 71 floodgates will open Patience!
Any thoughts on jumping out of AJ or you keeping the positions open? I'm out of AU too
  • #41,670
  • Jan 26, 2023 1:46pm Jan 26, 2023 1:46pm
Quoting Davit
Its possible EC shoot to 46 before the event or during the release. 46 great number to short {image}
Hello Davit - you definitely had it right on EC shooting to 46. That being said - did you take a long position before the event?
  • #41,671
  • Jan 26, 2023 2:13pm Jan 26, 2023 2:13pm
Quoting Rjaws
{quote} Hello Davit - you definitely had it right on EC shooting to 46. That being said - did you take a long position before the event?
Hi,

No offence meant but, read post #1 and post #41,610. If it doesn't make sense, please read them again. Your own understanding of the edge will make it more clear than asking the question.
  • #41,672
  • Jan 26, 2023 3:23pm Jan 26, 2023 3:23pm
Quoting rupasi
{quote} Hi, No offence meant but, read post #1 and post #41,610. If it doesn't make sense, please read them again. Your own understanding of the edge will make it more clear than asking the question.
Hello rupasi - no offense taken, but believe me I have been following Davit's thread since before pandemic days (and he does have the BEST thread on FF). One thing that Davit has pointed out within his thread is that pairs will come back to pivot and quite often bounces off of pivot which EC did a number of times in this example - true to form. Based on this I would have gone long on EC but my one hesitation was that a rate event was coming up for CAD - and different people have different strategies when an event is upcoming. Some do not want to risk it and wait until the event is done - some will risk it based on technicals. Was just wondering how Davit played it based on his correct prediction that EC would shoot to 46.
I will wait for Davit's comments and then see if I need to re-read post #1 thru post #41,610
  • #41,673
  • Jan 26, 2023 3:43pm Jan 26, 2023 3:43pm
Two I'm watching - GA & EA
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Successful trading is intrinsic to risk management and discipline
  • #41,674
  • Jan 26, 2023 3:44pm Jan 26, 2023 3:44pm
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Successful trading is intrinsic to risk management and discipline
  • #41,675
  • Jan 27, 2023 1:27am Jan 27, 2023 1:27am
Quoting kingdomk
{quote} Any thoughts on jumping out of AJ or you keeping the positions open? I'm out of AU too
AJ closed at 9233 which looks like becoming strong S
Credit to myself I waited and waited for BO but nothing so closed it
157 is better then zero or worse DD
Attached Image(s) (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #41,676
  • Jan 27, 2023 1:38am Jan 27, 2023 1:38am
Quoting Rjaws
{quote} Hello Davit - you definitely had it right on EC shooting to 46. That being said - did you take a long position before the event?
No
I almost never take a position at pivot. In case of EC I trade one direction only sell until that edge no longer there.
Generally I trade all pairs 1 direction usually direction of greater trend or swing tops.Its just how I trade no right or wrong.
Welcome back
"Bulls make money, bears make money, pigs get slaughtered"
In trading, you have to be defensive and aggressive at the same time
  • #41,677
  • Edited 1:53am Jan 27, 2023 1:43am | Edited 1:53am
Could not help myself dropped 2 lots on AN
45 pips south is reasonable 9
Got all my arrows Red at Pivot 78 everything looks "by the book"

Traders who learn to think in probabilities do not experience the mental ‘trauma’ like those traders who haven’t learned to think in probabilities because they are not ‘expecting’ a winner on any given trade like those who don’t think in probabilities. Learning to think in probabilities releases your expectations from trades because you are focused on the results of the overall series of trades, not on the result of any given trade.

Mark Douglas
What above means I am confident based on true stats Pivot trading is roughly 80% profitable that surely means based on perfect set up I have 80% winners.Since I think in probabilities I dont know if this trade is in 80% winner or 20% loser category but going for Series of trades over time.
My month so far is staggering!Blows even my expectation.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #41,678
  • Jan 27, 2023 2:51am Jan 27, 2023 2:51am
two trades on EA this week, second trade just closed a few minutes ago with a 40 pip gain
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  • #41,679
  • Jan 27, 2023 6:11am Jan 27, 2023 6:11am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,089 Posts | Online Now
Attached Image (click to enlarge)
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We obey the structure that results from the market's reaction
  • #41,680
  • Jan 27, 2023 6:20am Jan 27, 2023 6:20am
Nice news in an hour so hoping something will offer a few bucks
Quoting Egbert
{image}
Pip Student
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