Pivot Trading

Quoting Nostromo

Disliked

{quote} I am still learning the basics but things like this make me realize how big the learning curve in forex really is, I had no idea I had to re-enter the weekly start/end dates on my indi's each week - isn't that something that is normally automated? Please realize I am not criticizing here, am just trying to understand why its not hard coded for 'previous week', with a GMT offset for broker hours as a one-off initial setup or something like that? Can you also please explain how you know that 00:00 hours is equivalent to GMT +3? Without any...

Ignored

Quoting fibosniper

Disliked

{quote} My setting is just for simply reason: create the pivot level is almost similar with Davit's chart. I don't really care about the equivalency of GMT offset. The most important is your setting shows a good S/R level at your chart.

Ignored

Quoting toksy

Disliked

was in Aj long close for +30,+25 and GJ with +25 would have let this trade run longer anyways still learning i am in AU long,and GU sell see chart for any advice {image} {image}

Ignored

Quoting Davit

Disliked

{quote} Hi toksy I am sorry that I can't really see clearly your charts.I prefer you use my template when posting trade related questions and you can use your personal charts on your own. Thank you

Ignored

Quoting siboneloz

Disliked

thanks for the Pivots Davit, it shows key turning points on charts which make determining entries and exits easier, having to update the time in the indicator every week is a small price to ask considering the amount of winners you get

Ignored

Quoting Nostromo

Disliked

Hey Davit, my first Pivot trade ... only on Demo as I am still very new to trading and TDI, but it looked like a nice bounce off R78 yesterday. Any comments welcome. Oh - and I also have to update the week start end date on my pivot indicator also like siboneloz - I wonder why you don't need to, is it because your GMT offset is the same a the default setting? cheers. {image}

Ignored

Quoting Davit

Disliked

{quote} Hi Nostro Its good that you are on demo.I usually don't trade UJ because of BOJ could and have intervened in the past and price can spike or dive very quickly.In my real account I don't see value trading the Yen. Fundamentally Japanese are in panic in terms of Yen getting stronger and won't surprise me abrupt unannounced move to weaken it. I have no issues on pivots.I don't change anything.Don't know reasons but fact is every week there are new ones. Has been working fine $$ why change it. Regards

Ignored

Quoting Nostromo

Disliked

{quote} Davit, thanks for your feedback, what in your opinion are good stable pairs to trade with plenty of good sized swings? I read about the fiasco a while ago with Swiss franc, and I can definitely see your point about the Japanese Govt interference in their currency ... (mind you - don't all Govts do that? ) I only decided to start with EU, GU, AU, EJ, UJ ,AJ, UCad as that was a recommendation for beginners on the TMS thread. I was going to concentrate on EUR/USD but I wanted to have a couple more alternatives for when that pair was flat,...

Ignored

Quoting Davit

Disliked

Anticipating a reaction at 61S on AN This pair is on my radar to buy and hold {image}

Ignored

Quoting Davit

Disliked

{quote} 80% of my trades are on UC and some on AC and EC rest on EU AU NU GU EG I like the Cad because I can keep up with oil and Cad fundamentals.To me you only need 2-3pairs to reach your monthly goal. When you focus on few pairs you get to know it well and build confidence trading them. Its a misconception that one needs to be all over the place to make money.I can build 10 trades on UC equaling trading 10 different pairs but my results would be better because I only need one swing to collect. General guidelines to me is this If you have less...

Ignored