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Davit's Confluence Trading

  • #701
  • May 1, 2014 10:49am May 1, 2014 10:49am
There are few traders that inspire me and one is Jason Alan Jankovsky 25 years of trading experiance and not failed trader turned author writing about trading.
He is the real deal.Watch this video
Often you read "you can't catch Tops and bottoms" Well you can!!!
You can start watching from 9min mark if not interested the intro


Inserted Video
In trading, you have to be defensive and aggressive at the same time
  • #702
  • May 1, 2014 3:38pm May 1, 2014 3:38pm
Build a solid shorts on EU 14 orders and minor one on GU 8 orders

Page from my trading plan
I have put lot of thought and reading about trading.Various great insights from great traders and formulated my plan which addresses risk and profit targets.
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In trading, you have to be defensive and aggressive at the same time
  • #703
  • May 1, 2014 4:19pm May 1, 2014 4:19pm
Hey Davit, shame you decided to stop posting on the EU thread, but glad I found this one instead as I'm really interested in your system
Quick question about Jason AJ: did you ever use his mirror trading system?
  • #704
  • May 1, 2014 5:02pm May 1, 2014 5:02pm
Quoting gjgjg
Hey Davit, shame you decided to stop posting on the EU thread, but glad I found this one instead as I'm really interested in your system Quick question about Jason AJ: did you ever use his mirror trading system?
Hi GJ
No I have not heard his mirror trading system.I have formulated trading style that suits me but always willing to learn new insights.
Will check it out
Regards
In trading, you have to be defensive and aggressive at the same time
  • #705
  • May 1, 2014 9:07pm May 1, 2014 9:07pm
Jesse Livermore's best advise
"seat tight"
Translates= patience=time=waiting is part of trading in fact real secret of real profits.
Scalper on 5 min chart sees 20pip as huge.Swing trader 20pip is noise.
Jesse Livermore does not say if you are wrong stay in there accumulating massive DD
What he is saying once you have a great position then let it develop and compound the winners.

My large positions on EU on Bear is showing promise.
In trading, you have to be defensive and aggressive at the same time
  • #706
  • May 9, 2014 6:55pm May 9, 2014 6:55pm
update on my trades
70% of my total trades in profit.Some GU shorts in red.
Closed about +120 pips on EU today but 80% of my trades are still active on EU
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In trading, you have to be defensive and aggressive at the same time
  • #707
  • May 9, 2014 7:03pm May 9, 2014 7:03pm
Quoting Davit
update on my trades 70% of my total trades in profit.Some GU shorts in red. Closed about +120 pips on EU today but 80% of my trades are still active on EU {image}
.... When I saw that EU drop you were the first one I thought Davit. So good to see the patience pay off.
Ghost Rider - WWTBMD?
  • #708
  • May 9, 2014 7:12pm May 9, 2014 7:12pm
Quoting albchr
{quote} .... When I saw that EU drop you were the first one I thought Davit. So good to see the patience pay off.
Thanks Chris!
Check this out.My system is spot on.
As you can see price dived from 2nd and 3rd BB deviations sharply and its at bottom BB level most likely place for rebound.
I have to watch carefully next week for either close all orders in profit and re enter shorts again on rallies or its possible PA going south further.
Regards
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In trading, you have to be defensive and aggressive at the same time
  • #709
  • May 9, 2014 7:16pm May 9, 2014 7:16pm
Quoting Davit
update on my trades 70% of my total trades in profit.Some GU shorts in red. Closed about +120 pips on EU today but 80% of my trades are still active on EU {image}
Nice job Davit!
I trade a similar style with commodities.
Continued success.
  • #710
  • May 9, 2014 7:18pm May 9, 2014 7:18pm
8 wins 2 losses so far in May
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In trading, you have to be defensive and aggressive at the same time
  • #711
  • May 9, 2014 7:20pm May 9, 2014 7:20pm
Quoting srt
{quote} Nice job Davit! I trade a similar style with commodities. Continued success.
Love commodities.Once my account gets large enough I will expand.
Goal is build equity for full time trading in 3-4yrs.
Best success
In trading, you have to be defensive and aggressive at the same time
  • #712
  • May 9, 2014 7:25pm May 9, 2014 7:25pm
Quoting Davit
{quote} Thanks Chris! Check this out.My system is spot on. As you can see price dived from 2nd and 3rd BB deviations sharply and its at bottom BB level most likely place for rebound. I have to watch carefully next week for either close all orders in profit and re enter shorts again on rallies or its possible PA going south further. Regards {image}
You have it pretty well fine tuned brother.

Opposite BB is usually (if not almost always) a good place to close, take profit & cover or at least just cover open positions. Yes I agree you need to be watching closely. Of course you know I'm still in the bull camp (purely chart based, no fundies for me) on the USD pairs "big picture". Both EU and GU were at obvious strong SR and due a correction. As of now, a correction is all I see on my charts and I believe the bull trend will continue when it's finished. Perhaps more so on GU than EU "right off" but you know how I feel about the dollar....LOL

Dollar hit a good weekly SR and bounced well today. Should be interesting to see if it can finally take out 80.00 for the umpteenth try. I don't trade EU but my buy zones on GU remain 6800/20 to an outside 6750/80. We'll see what Mr. market has in store for us next week.

Again, congratulations on the well played green pips.

EDIT: I forgot to add, I do like the daily double top on EU for a possible bear follow thru short term.
Ghost Rider - WWTBMD?
  • #713
  • May 9, 2014 7:37pm May 9, 2014 7:37pm
Thanks Chris
Best success

I am going to post about Artists I am passionate about
Gerhard Richter

Great Documentary on him on Netflix

http://www.netflix.com/WiMovie/70222624?trkid=13752289
Gerhard Richter Painting

To me Trading is an Art form.
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In trading, you have to be defensive and aggressive at the same time
  • #714
  • May 9, 2014 7:45pm May 9, 2014 7:45pm
Quoting Davit
Thanks Chris Best success I am going to post about Artists I am passionate about Gerhard Richter Great Documentary on him on Netflix http://www.netflix.com/WiMovie/70222624?trkid=13752289 Gerhard Richter Painting To me Trading is an Art form. {image}
I can understand why. One of my favorites of his.

I agree Davit. Life itself is an art form and as such, all things in it.

Anyway it's getting late and I must run now. Enjoy the weekend and all the best always my friend.
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Ghost Rider - WWTBMD?
  • #715
  • May 9, 2014 7:50pm May 9, 2014 7:50pm
Lucian Freud
One of my old time favorites.Grandson of Freud.Great painter and I identify with his stark realism without superficiality.Models sit as they are.No ornaments,nothing to make them pretty and yet that's what is great refreshing soul giving art.

http://www.vanityfair.com/culture/2012/02/freud-201202
Freud, Interrupted
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In trading, you have to be defensive and aggressive at the same time
  • #716
  • May 9, 2014 7:50pm May 9, 2014 7:50pm
Quoting Davit
{quote} Thanks Chris! Check this out.My system is spot on. As you can see price dived from 2nd and 3rd BB deviations sharply and its at bottom BB level most likely place for rebound. I have to watch carefully next week for either close all orders in profit and re enter shorts again on rallies or its possible PA going south further. Regards {image}
I have been using your BB + RSI system with good success, taking one trade when the both BB2 and RSI 70 (or 30) have been exceeded.

With GBPAUD and GBPNZD I have been adding to a short because of the positive swap. Do you take the swap into account at all?

My main challenge is to let the positive trades run, I often close when the 20 ma has been hit. What is your exit strategy, please?
  • #717
  • May 9, 2014 7:55pm May 9, 2014 7:55pm
For the last 57 years of his life, Freud painted standing up rather than sitting down; the physical restrictions of seated painting, he said, had begun getting him “more and more agitated” in the 1950s, so he kicked the chair away. Painting on his feet required extraordinary stamina, given Freud’s self-imposed work schedule: a morning session with one model, an afternoon break, and an evening session with another model, seven days a week, all year round. What’s more, these sessions had a tendency to stretch on: a deliberate worker, Freud took 6, 12, 18 months or longer to complete a painting

From the article
Now think how hard it is to hold on to trade....Its all very related.Determination to get results
In trading, you have to be defensive and aggressive at the same time
  • #718
  • May 9, 2014 8:00pm May 9, 2014 8:00pm
Quoting ikdenk
{quote} I have been using your BB + RSI system with good success, taking one trade when the both BB2 and RSI 70 (or 30) have been exceeded. With GBPAUD and GBPNZD I have been adding to a short because of the positive swap. Do you take the swap into account at all? My main challenge is to let the positive trades run, I often close when the 20 ma has been hit. What is your exit strategy, please?
Glad to hear friend.
Exit is tricky.I have the same situation on EU trades.Since price has tendency to bounce like in harmonic patterns you could exit wait for rebound and short or long again.I have done this numerous times on GU NU UC.
Exits are based on PA behavior but my observations often PA bounces off from BB center line and if it goes through then opposite side of BB deviations.
On swap when opportunity presents like recent NU 8770 swap is not factored in.Since idea is swing trading and most swings last 3-7days.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #719
  • May 9, 2014 8:29pm May 9, 2014 8:29pm
Quoting ikdenk
{quote} I have been using your BB + RSI system with good success, taking one trade when the both BB2 and RSI 70 (or 30) have been exceeded. With GBPAUD and GBPNZD I have been adding to a short because of the positive swap. Do you take the swap into account at all? My main challenge is to let the positive trades run, I often close when the 20 ma has been hit. What is your exit strategy, please?
On NU right now the cost to short is .75 pips per day so not enough to be concerned with.
EU & GU are both almost nothing. Seems most countries have low interest rates now so carry costs are minimal.
  • #720
  • May 10, 2014 1:27pm May 10, 2014 1:27pm
Some personal thoughts I like to share about S/R zones.
Some traders like to place S/R numbers to a pip and Gator is one trader often does this repeatedly as example.
To me this is unrealistic approach to markets.Price goes into a zone and this could be 20-60pip.As you probably noticed there is usually 3 levels of s/r every time price comes to round numbers example --3720-37-3680 support is not broken if price lingers on 3680 its still in the zone.Price breaks 3680 and goes below 3670 then we can convincingly say 37 is done.Thus process continues to 50 less important number then again to 20-0-80
This is more realistic approach and more accurate.This movement has lot to do with stops placements and major orders.
Regards
In trading, you have to be defensive and aggressive at the same time
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