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Davit's BB Wave System

  • #781
  • Aug 27, 2014 10:34am Aug 27, 2014 10:34am
Quoting Timmy.
Hi Davit, I have been watching your thread since few months ago and I really admire your trading systems. I finally make this account so that I can post on your thread. Thanks so much for sharing your system and recommending some books to read. I was trying a lot of systems (and of course lost a significant amount of money) with different time frames but none fits me yet since I have 9-5 job everyday which not allows me to look at my chart regularly. Now I only look at my chart once after the daily candle close and so far I am happy with it. I wish...
Welcome Timmy
Glad you find this system worth looking into.I already demonstrated live trades placed and closed in profit and that should already confirm its not a fluke.
As in many system we should recognize early that trade didn't work and exit.If you keep your MM tightly I can say 80% winning rate is easily achievable.
You are the 1st person here referencing "disciplined trader"
Kudos to you.Yes I am still dealing with psychology myself.I closed 300pip trade that within 6hrs could of been 500pips trade...Its a constant refining process.
I have full time job as well.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #782
  • Aug 27, 2014 10:37am Aug 27, 2014 10:37am
Quoting Yeoman
This pair looks ready to fill the gap. {image}
I am on it rather in large orders.Pretty risky on my part...
Private Capital Expenditure q/q red news tonight.Forecast is projecting negative.This could push AN lower
REgards
In trading, you have to be defensive and aggressive at the same time
  • #783
  • Aug 27, 2014 10:51am Aug 27, 2014 10:51am
ECB is looking into QE to stimulate growth Feds style...
Euro zone bond yields fall as ECB's Draghi boosts QE speculation

Down trend on Euro may continue lot longer and deeper so If you are buying Euro stop I suggest selling the rallies.
In trading, you have to be defensive and aggressive at the same time
  • #784
  • Aug 27, 2014 11:01am Aug 27, 2014 11:01am
Aud/JPY is very stretched and might take a short after weds close.I don't want to pay 3x swap
most brokers charge Sat/Sun swap on Wednesdays
In trading, you have to be defensive and aggressive at the same time
  • #785
  • Aug 27, 2014 11:14am Aug 27, 2014 11:14am
AJ harmonics
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.Daily.png Size: 53 KB
In trading, you have to be defensive and aggressive at the same time
  • #786
  • Aug 27, 2014 11:17am Aug 27, 2014 11:17am
"Down trend on Euro may continue lot longer and deeper" Davit


Daily looks like a good ct opportunity but 1 & 4 hr showing continuation of the trend. 4h bearish candle right @ rsi50.
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Yeoman the "Tough Luck" Trader =p
  • #787
  • Aug 27, 2014 11:26am Aug 27, 2014 11:26am
Quoting Yeoman
"Down trend on Euro may continue lot longer and deeper" Davit Daily looks like a good ct opportunity but 1 & 4 hr showing continuation of the trend. 4h bearish candle right @ rsi50. {image}{image}{image}
Nice reasoning.I like your thinking process!
Thurs is German Prelim CPI m/m
Just hold off selling yet.I suspect MM's might push up 1st before dumping
In trading, you have to be defensive and aggressive at the same time
  • #788
  • Aug 27, 2014 11:46am Aug 27, 2014 11:46am
I'm still long Euro due to my own system, but my return on EU historically is horrible.

I only allow EU very minimal of my account.

I am still short UJ though, bears have entered the market, putting up a good fight.
  • #789
  • Edited 1:27pm Aug 27, 2014 12:33pm | Edited 1:27pm
EJ short 2x 3719 2x3723

This is short trade based on daily ADR
Daily is reached 55 pips up from lows 52pips last 5days.
Its done basically for today
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #790
  • Aug 27, 2014 1:38pm Aug 27, 2014 1:38pm
Hi Dave. I´ve been in and out, long only, UC for months now. Last bought at 1.0650 and sold at 1.0900. I´m looking to go long again somewhere between 1.0700 and 1.0750. How do you see it?

I like your system. Good work !!!
Observation is the path to discovery.
  • #791
  • Aug 27, 2014 1:49pm Aug 27, 2014 1:49pm
Quoting Davit
{quote} Welcome Timmy Glad you find this system worth looking into.I already demonstrated live trades placed and closed in profit and that should already confirm its not a fluke. As in many system we should recognize early that trade didn't work and exit.I....
I used to cut profit and keep the losing trade because it is so damn difficult to keep profitable trade running.. now I use ADR or SR level as my SL/TP points.
BTW what do you think about NZD USD? I love the swap from this pair and it agree with your CT rules
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  • #792
  • Aug 27, 2014 1:50pm Aug 27, 2014 1:50pm
Quoting Alorente
Hi Dave. I´ve been in and out, long only, UC for months now. Last bought at 1.0650 and sold at 1.0900. I´m looking to go long again somewhere between 1.0700 and 1.0750. How do you see it? I like your system. Good work !!!
Welcome Alorente
I like your work as well specially on fibs
If 1080 holds I anticipate another attempt at 950 zone then I plan to sell aggressively again but this time let it fall lot further.
I think we will see 950 zone again most likely.
Typical head and shoulder formation and right shoulder is incomplete
Back of my mind I am always looking at Elliot Wave patterns.Rations to me not as important as general fractal nature of EW
http://www.mypivots.com/site/userfil...cf1ad23647.png
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In trading, you have to be defensive and aggressive at the same time
  • #793
  • Aug 27, 2014 1:58pm Aug 27, 2014 1:58pm
EJ breaking down nicely
In trading, you have to be defensive and aggressive at the same time
  • #794
  • Aug 27, 2014 2:06pm Aug 27, 2014 2:06pm
Hi Davit, to take a trade on your system, do you wait for a candle close or do you take a trade whenever the criteria is met?
GU looks bloody nice for a long but daily candle is not closed yet
I already started with small lots anyway
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  • #795
  • Aug 27, 2014 2:26pm Aug 27, 2014 2:26pm
Quoting Timmy.
Hi Davit, to take a trade on your system, do you wait for a candle close or do you take a trade whenever the criteria is met? GU looks bloody nice for a long but daily candle is not closed yet I already started with small lots anyway {image}
I also mention that trade specially CT trade should support some fundamentals.
As long as Euro is in free fall GU will follow suit since its highly correlated.GU was buy zone in my system for hundreds of pips and I strongly advised not to buy and its proven to be correct saving lot of potential losses.
I am not buying GU but actively selling Euro
Your longs by the way has lot of harmonic support so don't get scared 50-70pip north likely but stay vigilant
In trading, you have to be defensive and aggressive at the same time
  • #796
  • Aug 27, 2014 2:34pm Aug 27, 2014 2:34pm
Quoting Timmy.
{quote} I used to cut profit and keep the losing trade because it is so damn difficult to keep profitable trade running.. now I use ADR or SR level as my SL/TP points. BTW what do you think about NZD USD? I love the swap from this pair and it agree with your CT rules {image}
AU looks getting top exhausted
NU looks stronger
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: NZDUSD.Daily.png Size: 53 KB
In trading, you have to be defensive and aggressive at the same time
  • #797
  • Aug 27, 2014 2:43pm Aug 27, 2014 2:43pm
I am also Euro bearish, although I did the short EJ earlier than you at 137.00 which makes me still on RED ;p
How do you know about the harmonic support? I only have ZUP indi for harmonic pattern but it is sometimes a bit confusing for me. I am a bit worried because it looks like still heading south but today bulls are very strong.
Attached Image(s) (click to enlarge)
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  • #798
  • Edited 3:23pm Aug 27, 2014 3:07pm | Edited 3:23pm
Quoting Timmy.
I am also Euro bearish, although I did the short EJ earlier than you at 137.00 which makes me still on RED ;p How do you know about the harmonic support? I only have ZUP indi for harmonic pattern but it is sometimes a bit confusing for me. I am a bit worried because it looks like still heading south but today bulls are very strong. {image} {image}
Place zig zag
See the shape.Draw the pattern look at harmonic patterns see if any match.
Its a bullish shark to me.
If you are worried then you are either over trading or your position lot is disproportionate to your account.
Trading should be almost stress free.When you are worried and stressing then something is wrong with your position size.Reduce lots and allow room for trade to "breathe"
If wrong exit take the loss and try again.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #799
  • Aug 27, 2014 3:10pm Aug 27, 2014 3:10pm
Quoting Davit
{quote} I am on it rather in large orders.Pretty risky on my part... Private Capital Expenditure q/q red news tonight.Forecast is projecting negative.This could push AN lower REgards

Hi Davit after a couple of years loosing money im keeping with somes green pips with your system, also im doing a file with all post and explanations to make a kind of book about your system with questions of peopple and your answers, if you dont care in any moment i could share it.

also are you short on AN? i see a kinf of SHS at 4H
Attached Image (click to enlarge)
Click to Enlarge Name: AN1.JPG Size: 77 KB


and waiting for short at AJ until next week?
  • #800
  • Aug 27, 2014 3:19pm Aug 27, 2014 3:19pm
Quoting Davit
{quote} Place zig zag See the shape.Draw the pattern look at harmonic patterns see if any match. Its a bullish shark {image}
Thanks Now I can leave my trade for a good night sleep.
Btw do you also share your harmonic indi?it looks very clean and tidy. I am half color blind so I really like less color and clean chart
I once tried ADX and MTS system and I am completely lost because of the colors
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