Pivot Trading | Page 24 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Open Trade near Pivot line (Pivot Point) 16 replies

Weekly Pivot to Pivot Trading 19 replies

The Pivot Net Revisited (Weekly Pivot Net) 41 replies

Help with daily pivot, weekly pivot on MT4 3 replies

Pivot high - Pivot low MT4 3 replies

Attachments: Pivot Trading
Exit Attachments

Pivot Trading

  • #461
  • Jun 8, 2016 8:20am Jun 8, 2016 8:20am
Quoting Davit
{quote} There could be a push up before interest rate event at 5pmEST Should they cut it would be great since I am shorting through Aussie. One thing to keep in mind about divergence.PA must agree and so far its still bulish regards Almost forgot install the market magnified price so your chart looks accurate to my template.Page 1
Thanks Davit, will keep in mind that thing about divergence . Got stopped out on this NU trade. Still got to learn to spot the right trade opportunities.
  • #462
  • Jun 8, 2016 8:52am Jun 8, 2016 8:52am
Hi davit I wonder what You think of this EUR/CHF at the moment it is on the way to touch S161 so looks like way oversold but who knows! It is still going down PA is in that direction TDI is also pointing down. Do You think it would be interesting to watch and If You think it could be a possible trade when Will it be a good time to go long if that could be the case. Thanks ​
  • #463
  • Jun 8, 2016 2:30pm Jun 8, 2016 2:30pm
Hi Davit,

was looking at your screenshot of the NZDUSD and then I had a look at mine. Shouldn't the values of your S38 and other lines have the same values? I'm confused why the values on your chart and my chart don't match..
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.png Size: 46 KB
  • #464
  • Jun 9, 2016 3:06am Jun 9, 2016 3:06am
Quoting Davit
Closed NU and AU shorts as well Combined over 500pips in multiple positions. Should of left those running {image}
Hello Davit,
1. when I look at this chart then I see that you had a huge drawdown..60 pipis against you with 5 opened positions. That's 300 pips against you. How do you deal with this drawdown? The price went down but what if the reaction to the news would have been opposite?
2. What was the setup that made you open those 5 positions?
3. Can you tell what is your money management when you open a position?

cheers
  • #465
  • Jun 9, 2016 9:53am Jun 9, 2016 9:53am
Quoting aspirine80
{quote} Hello Davit, 1. when I look at this chart then I see that you had a huge drawdown..60 pipis against you with 5 opened positions. That's 300 pips against you. How do you deal with this drawdown? The price went down but what if the reaction to the news would have been opposite? 2. What was the setup that made you open those 5 positions? 3. Can you tell what is your money management when you open a position? cheers
How I deal with DD?
Good question
I don't really count pips I count $$
I set for example $500 1 batch of trades. I enter mini lots.As long as my 500 is not reached then it did not reach my SL.
In AN case I got stopped out.Sometimes does not work holding on.Should of gotten out when in good profit.That's trading.Hard knowing the future.
I have many times got out early then price moved in my way another 300pips so its delicate act which I am still trying to refine.
regards
In trading, you have to be defensive and aggressive at the same time
  • #466
  • Jun 9, 2016 10:01am Jun 9, 2016 10:01am
Quoting Patrickology
Hi Davit, was looking at your screenshot of the NZDUSD and then I had a look at mine. Shouldn't the values of your S38 and other lines have the same values? I'm confused why the values on your chart and my chart don't match.. {image}
different broker times.
Try playing with settings.I am NY EST
In trading, you have to be defensive and aggressive at the same time
  • #467
  • Jun 9, 2016 10:02am Jun 9, 2016 10:02am
Quoting ralfy
Hi davit I wonder what You think of this EUR/CHF at the moment it is on the way to touch S161 so looks like way oversold but who knows! It is still going down PA is in that direction TDI is also pointing down. Do You think it would be interesting to watch and If You think it could be a possible trade when Will it be a good time to go long if that could be the case. Thanks ​
don't trade the swissy.I don't even look at it.Can't help.Watch PA
In trading, you have to be defensive and aggressive at the same time
  • #468
  • Jun 9, 2016 10:04am Jun 9, 2016 10:04am
NU can't break 7140
Watch for weakness.Its way overbought and could be very close to be dumped.
In trading, you have to be defensive and aggressive at the same time
  • #469
  • Jun 9, 2016 2:06pm Jun 9, 2016 2:06pm
​Hello Davit

Really interesting thread you've got here. Thank you for sharing.

I do have one question: how do you manage your SL when you're not at your desk? I know you don't have a total pip value, more of a personable 'acceptable' DD %.
As a swing trader, I'm assuming you sometimes keep positions open overnight or for a few days. How do you manage your SL then?
  • #470
  • Edited Jun 10, 2016 12:29am Jun 9, 2016 11:36pm | Edited Jun 10, 2016 12:29am
Quoting mact4
​Hello Davit Really interesting thread you've got here. Thank you for sharing. I do have one question: how do you manage your SL when you're not at your desk? I know you don't have a total pip value, more of a personable 'acceptable' DD %. As a swing trader, I'm assuming you sometimes keep positions open overnight or for a few days. How do you manage your SL then?
Hi Mact welcome
Once again my SL is based on actual $$ not pip.As long as my batch of trades have not reached max Dd in terms of $$ then I let it run.
Let me give you concrete example
I was shorting UC from 129 and price went 31+ and I had over 200pip DD but in actual $$ it was only 20% of my intended lot to be traded on this pair.Then I Hummered rest from the swing top and made all DD back plus nice profit.
I trade unorthodox style
I learned over the years that 20-30pip SL is sucker move.It will get hit and you can be taken out even if direction is correct.
I refined my style of trading that pivots allows best entries without huge DD.People who see the value of this thread will profit
Regards
In trading, you have to be defensive and aggressive at the same time
  • #471
  • Jun 9, 2016 11:40pm Jun 9, 2016 11:40pm
Example of life trade.
Failed to break 100R I posted about this...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM30.png Size: 39 KB
In trading, you have to be defensive and aggressive at the same time
  • #472
  • Jun 10, 2016 12:50am Jun 10, 2016 12:50am
Quoting Davit
{quote} Hi Mact welcome Once again my SL is based on actual $$ not pip.As long as my batch of trades have not reached max Dd in terms of $$ then I let it run. Let me give you concrete example I was shorting UC from 129 and price went 31+ and I had over 200pip DD but in actual $$ it was only 20% of my intended lot to be traded on this pair.Then I Hummered rest from the swing top and made all DD back plus nice profit. I trade unorthodox style I learned over the years that 20-30pip SL is sucker move.It will get hit and you can be taken out even if...
​No I understood that. What I meant is literally how do you manage your risk if you're away from your desk for instance if your trade has to run over night. As you said you don't use a hard SL, do you use an EA instead?
  • #473
  • Jun 10, 2016 7:51am Jun 10, 2016 7:51am
Quoting mact4
{quote} ​No I understood that. What I meant is literally how do you manage your risk if you're away from your desk for instance if your trade has to run over night. As you said you don't use a hard SL, do you use an EA instead?
I answered your question.My sL is part of my trading entries.Should PA overrun my budget for that trade I take the loss manually.
I often take earlier if I think fundamentals shifting.
I work 70hrs a week and often can't be at my computer but twice a day morning and night I can hence plenty of opportunities to take the loss.
Reason I can do this because I don't over trade.I trade mini lots.
Hope you are clearer.I don't talk about this often because I rather people use SL they are comfortable with.
regards
In trading, you have to be defensive and aggressive at the same time
  • #474
  • Jun 10, 2016 8:05am Jun 10, 2016 8:05am
Quoting Davit
{quote} I answered your question.My sL is part of my trading entries.Should PA overrun my budget for that trade I take the loss manually. I often take earlier if I think fundamentals shifting. I work 70hrs a week and often can't be at my computer but twice a day morning and night I can hence plenty of opportunities to take the loss. Reason I can do this because I don't over trade.I trade mini lots. Hope you are clearer.I don't talk about this often because I rather people use SL they are comfortable with. regards
​Ok I think I get it. You stay in your trades so long as fundamentals agree and within your personal risk, but if fundamentals or PA starts to tell you something different, you would look to minimise your risk.

You're right. Not many people will be comfortable without a SL - I'm one of them!

Thanks for clarifying.
  • #475
  • Jun 11, 2016 6:24am Jun 11, 2016 6:24am
Still in this
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM30.png Size: 42 KB
In trading, you have to be defensive and aggressive at the same time
  • #476
  • Jun 11, 2016 6:51am Jun 11, 2016 6:51am
Hello Davit,

every week pivot levels are reset due to new high/low/close calc of previous week, there are gaps between previous and current levels..
how do you transition these gaps, or do you mark previous week's levels and compare them to the new levels?
  • #477
  • Jun 11, 2016 7:33am Jun 11, 2016 7:33am
Quoting Karpa
Hello Davit, every week pivot levels are reset due to new high/low/close calc of previous week, there are gaps between previous and current levels.. how do you transition these gaps, or do you mark previous week's levels and compare them to the new levels?
I just carry over and watch PA with new pivots.I try to simplify everything.
I don't mark previous pivots.There are lots of indicators which show previous pivots but I found they just clatter the thinking.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #478
  • Jun 11, 2016 8:00am Jun 11, 2016 8:00am
Quoting Davit
{quote} I just carry over and watch PA with new pivots.I try to simplify everything. I don't mark previous pivots.There are lots of indicators which show previous pivots but I found they just clatter the thinking. Regards
Thanks Davit and for the interesting thread
  • #479
  • Edited 7:31am Jun 12, 2016 7:18am | Edited 7:31am
Quoting Karpa
{quote} Thanks Davit and for the interesting thread
You are welcome

USD getting hawkish before the Feds meeting and GU could test 100S
I no longer trade G pairs for Brexit reasons but do monitor it for overall sentiment.

Will hold my NU shorts to maybe 6850 pivot which I think may reach before the Feds.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #480
  • Jun 12, 2016 10:10am Jun 12, 2016 10:10am
Quoting Davit
{quote} You are welcome USD getting hawkish before the Feds meeting and GU could test 100S I no longer trade G pairs for Brexit reasons but do monitor it for overall sentiment. Will hold my NU shorts to maybe 6850 pivot which I think may reach before the Feds. {image}
Hi, Davit.
How about GJ from your observation?
Will it bounce up?Or will test the S61 Level?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 64 KB
26 traders viewing now