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Pivot Trading

  • #43,141
  • Apr 21, 2023 10:27am Apr 21, 2023 10:27am
Quoting Davit
EC Be patient trades will come to you {image}
Agree EC had it up now will hold the short till next week
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Pip Student
  • #43,142
  • Apr 21, 2023 11:49am Apr 21, 2023 11:49am
I understand the advantage of dividing the order size into many small lots, which is something I always do. However, I don't understand the rationale behind placing many tiny orders with a distance of only 1 pip or less between them.
  • #43,143
  • Apr 21, 2023 11:58am Apr 21, 2023 11:58am
Quoting n4r30s
I understand the advantage of dividing the order size into many small lots, which is something I always do. However, I don't understand the rationale behind placing many tiny orders with a distance of only 1 pip or less between them.
Different stops and targets. You may want a certain size position, but based on your risk, you may not wish to hold the ENTIRE position should it move against you. You can then save those that closed to reenter at a better price should it keep moving against you. On the flip side, you may wish to hold some of the position all the way to the original target, but price action may lead you to close out some prior.
  • #43,144
  • Apr 21, 2023 12:18pm Apr 21, 2023 12:18pm
Quoting n4r30s
I understand the advantage of dividing the order size into many small lots, which is something I always do. However, I don't understand the rationale behind placing many tiny orders with a distance of only 1 pip or less between them.
My observation in regard to this is:

It is necessary.
What I observe is when you open the position the price move positive a small bit and make you happy and then suddenly it moves up against you.
If the price move down when you open you will get good money but the price move against you so when it retraces you will make less money or probably break even.
You will make break even as you get scared that the price move against you now it is time you exit before I go in negative again. Psychology-fear game.

This is what market want.

And slowly it moves against you, the more you open, the more it moves against you, but there is a saturation point. That is where you kill the market.
  • #43,145
  • Apr 21, 2023 3:02pm Apr 21, 2023 3:02pm
Quoting pipmaster77
{quote} Different stops and targets. You may want a certain size position, but based on your risk, you may not wish to hold the ENTIRE position should it move against you. You can then save those that closed to reenter at a better price should it keep moving against you. On the flip side, you may wish to hold some of the position all the way to the original target, but price action may lead you to close out some prior.
Thank you for sharing your thoughts. I agree that breaking positions into smaller parts based on risk management is an effective strategy. However, implementing it with FIFO rules can be challenging. I used to follow a similar approach, and it worked well for me, particularly during DD. I was able to make many trades with profit until I closed the original orders. However, I've become more cautious now and need to keep track of each closed order's profit and loss. With FIFO rules, I have to close the original position when I want to close other trades in profit. Although it can be tedious, it's essential to maintain discipline and manage risk effectively.
  • #43,146
  • Apr 21, 2023 3:33pm Apr 21, 2023 3:33pm
Quoting n4r30s
{quote} Thank you for sharing your thoughts. I agree that breaking positions into smaller parts based on risk management is an effective strategy. However, implementing it with FIFO rules can be challenging. I used to follow a similar approach, and it worked well for me, particularly during DD. I was able to make many trades with profit until I closed the original orders. However, I've become more cautious now and need to keep track of each closed order's profit and loss. With FIFO rules, I have to close the original position when I want to close...
The first thing you need to do is get away from the bullshit CFTC regulated brokers.......FIFO is nonesense and useless.
  • #43,147
  • Apr 21, 2023 3:44pm Apr 21, 2023 3:44pm
Quoting pipmaster77
{quote} The first thing you need to do is get away from the bullshit CFTC regulated brokers.......FIFO is nonesense and useless.
I would love to switch to another broker, but unfortunately, many brokers do not work with US citizens due to regulatory restrictions. If you have any suggestions or solutions, I would be happy to hear from you.

After the implementation of CFTC regulations, I noticed a significant drop in my profits, despite having the same equity. I used to make more than twice the profit before these regulations were in place, FIFO, Hedge ban (I had my own method), and lower leverage lowered my profit.
  • #43,148
  • Apr 21, 2023 5:55pm Apr 21, 2023 5:55pm
Quoting pipmaster77
{quote} The first thing you need to do is get away from the bullshit CFTC regulated brokers.......FIFO is nonesense and useless.
I think that the US regulations, plus the enforced leverage limit of 1:30 in both Europe and Australia, are the main drivers behind the proliferation of Prop firms.

It seems to me that they would be well suited to the members here with such low drawdowns, any thoughts?

Have a nice weekend all

It takes a lot for me to IGNORE you, but you can try.
  • #43,149
  • Apr 21, 2023 8:12pm Apr 21, 2023 8:12pm
Quoting Erebus
{quote} I think that the US regulations, plus the enforced leverage limit of 1:30 in both Europe and Australia, are the main drivers behind the proliferation of Prop firms. It seems to me that they would be well suited to the members here with such low drawdowns, any thoughts? Have a nice weekend all
I used offshore brokers for 6 years from 2014-2020. The regulation is a false sense of security as funds are not protected in the US. I was able to use 5-10% of the margin trading offshore as I would have needed in the US. Not to mention, ironically, the conditions are far superior as far as spreads, commission and overall performance.
In 2020, I discovered prop firms. I am funded with 4 of them. I no longer trade with brokers at all except for DOW and NAS futures at AMP. The trick with the props is you must base your risk on the "max loss" allowed, which is normally 10% of the account equity. So if you are funded 100K with 10% max loss, you are really funded 10K. So if you have DD of say 20% on max loss, it is really only 2% of the account equity.
With the offshore options and the prop options, I truly cannot see why anyone would trade with these shithole offerings in the US.
  • #43,150
  • Apr 22, 2023 7:16am Apr 22, 2023 7:16am
Quoting n4r30s
{quote} I would love to switch to another broker, but unfortunately, many brokers do not work with US citizens due to regulatory restrictions. If you have any suggestions or solutions, I would be happy to hear from you. After the implementation of CFTC regulations, I noticed a significant drop in my profits, despite having the same equity. I used to make more than twice the profit before these regulations were in place, FIFO, Hedge ban (I had my own method), and lower leverage lowered my profit.
You can by pass the regulation by changing lot size incrementally. example 1st position 1 lot second 1.10 3rd 1.15 and so on.I have no issues closing any position on my phone app Oanda as long as position lots are different!
Interestingly doesn't work on Mt4 but works on phone app.I use the phone for closing and use mt4 to enter the trades if I want to close different positions and not sequentially.
In trading, you have to be defensive and aggressive at the same time
  • #43,151
  • Apr 22, 2023 7:21am Apr 22, 2023 7:21am
Quoting apples1978
{quote} Agree EC had it up now will hold the short till next week {image}
MM are saturating "pricing in" rate hike ECB on May 4th. Its so over bought that crash will come very strongly on crosses EN EA EJ and GN as well
Patience.
In trading, you have to be defensive and aggressive at the same time
  • #43,152
  • Apr 22, 2023 2:59pm Apr 22, 2023 2:59pm
Quoting Davit
{quote} You can by pass the regulation by changing lot size incrementally. example 1st position 1 lot second 1.10 3rd 1.15 and so on.I have no issues closing any position on my phone app Oanda as long as position lots are different! Interestingly doesn't work on Mt4 but works on phone app.I use the phone for closing and use mt4 to enter the trades if I want to close different positions and not sequentially.
I've tried that before and not working with Forex.com and IBFX.
  • #43,153
  • Apr 23, 2023 3:03pm Apr 23, 2023 3:03pm
Quoting Davit
{quote} You can by pass the regulation by changing lot size incrementally. example 1st position 1 lot second 1.10 3rd 1.15 and so on.I have no issues closing any position on my phone app Oanda as long as position lots are different! Interestingly doesn't work on Mt4 but works on phone app.I use the phone for closing and use mt4 to enter the trades if I want to close different positions and not sequentially.
I use Oanda and this is how I do it. My lots are always a small amount different than the last, no problem closing the ones I want whenever I want.
  • #43,154
  • Apr 24, 2023 2:59am Apr 24, 2023 2:59am
G morning traders not i like a love such setups after ranking week EU, GU and AU
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  • #43,155
  • Apr 24, 2023 5:34am Apr 24, 2023 5:34am
Quoting apples1978
{quote} Agree EC had it up now will hold the short till next week {image}
Hi apples1978!!

Could you share the ADR indicator you use?
  • #43,156
  • Edited 8:07am Apr 25, 2023 2:11am | Edited 8:07am
Google ADR Reversal Indicator your find it...
Pip Student
  • #43,157
  • Apr 25, 2023 2:38am Apr 25, 2023 2:38am
I once heard some good advice that ADR 200 works as a good SL zone and you can use it to keep your mm % in a good way. This is why I brought this.

Russ
Pip Student
  • #43,158
  • Apr 25, 2023 3:05am Apr 25, 2023 3:05am
These type of setups need to be marked as A premium setups (allways when they are avalaible)
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  • #43,159
  • Apr 25, 2023 4:32am Apr 25, 2023 4:32am
NC is my next premium A setup wich need to be monitored closley
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  • #43,160
  • Apr 25, 2023 9:17am Apr 25, 2023 9:17am
Hello Davit,
Sincerely I can't thank you enough for sharing this amazing and ground breaking system. After several years of struggling with the Forex market and blowing several account my eureka moment came when I discovered this tread howbeit coincidentally via google search. You're truly a legend! Thanks a zillion
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