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Pivot Trading

  • #1,001
  • Jul 5, 2016 6:42am Jul 5, 2016 6:42am
Hi David

I was using daily pivots but not that successful..but what i see yours are weekly pivot so is it much better then daily ?
  • #1,002
  • Jul 5, 2016 6:48am Jul 5, 2016 6:48am
U/C H4. ME x 3 = 100 pips locked in and still running. Smiling from ear to ear here! plus AU and NU are just starting to take off. The night is young over here

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'Fail to plan, plan to fail'
  • #1,003
  • Jul 5, 2016 6:52am Jul 5, 2016 6:52am
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Am also on the A/U. Trying to post this pic from phone. Little triangles are my entries. Horizontal line is pivot.
  • #1,004
  • Jul 5, 2016 7:24am Jul 5, 2016 7:24am
Quoting fx4shami
Hi David I was using daily pivots but not that successful..but what i see yours are weekly pivot so is it much better then daily ?
Read 1st page and some more.This is not beginning trading.You should not be here.
trading is about details.You don't read!! then you can't even spell my name!
In trading, you have to be defensive and aggressive at the same time
  • #1,005
  • Jul 5, 2016 7:31am Jul 5, 2016 7:31am
Quoting Guitarbloke
U/C H4. ME x 3 = 100 pips locked in and still running. Smiling from ear to ear here! plus AU and NU are just starting to take off. The night is young over here {image}
In trading, you have to be defensive and aggressive at the same time
  • #1,006
  • Jul 5, 2016 8:55am Jul 5, 2016 8:55am
Quoting Davit
{quote} your chart is exactly like mine.Consider yourself luckydon't worry carry on Even Erabus weekly is off only 5pips which is exceptable Broker time difference. Nice red news on AUD
Thanks Davit! that is not really a problem since the Pivots are Areas right?

Btw, this thread gave me a new vision about Range and Retraces, really insight, thanks.
  • #1,007
  • Jul 5, 2016 9:42am Jul 5, 2016 9:42am
Crude oil is dropping like a rock, should be some good buy opportunities soon at the S38 or S61. Make sure to close out your commodity pair longs before it turns around.

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Better to run, than curse the road
  • #1,008
  • Edited 10:44am Jul 5, 2016 10:05am | Edited 10:44am
PA on R38 to pivot ( Text book setup )
+52 Pips

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PA on S/R with BEEB into trendline
+50 pips

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Failed trade
-15 pips
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  • #1,009
  • Jul 5, 2016 11:19am Jul 5, 2016 11:19am
Guys seriously you guys are doing really good.
Inforserve=you are just
Guitarbloke= Good luck with live account
Luckyman=
Sorry if I missed anyone
In trading, you have to be defensive and aggressive at the same time
  • #1,010
  • Jul 5, 2016 11:29am Jul 5, 2016 11:29am
Quoting steve2010
Crude oil is dropping like a rock, should be some good buy opportunities soon at the S38 or S61. Make sure to close out your commodity pair longs before it turns around. {image}
Thanks Steve
I am on it for those unfamiliar
Crude going up makes UC going down and all CAD pairs in simple terms more expensive crude becomes stronger Canadian dollar.Reverse also true.
Not all CP pairs effect by this equally. CAD effects the most then AUD and NZD
AUD=Irone ore
NZD=Dairy

So you often notice that when crude goes up I sell UC AC and NC and now you know why
In trading, you have to be defensive and aggressive at the same time
  • #1,011
  • Jul 5, 2016 11:32am Jul 5, 2016 11:32am
Closed EG shorts
+82pips
Rejection of 100R
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In trading, you have to be defensive and aggressive at the same time
  • #1,012
  • Jul 5, 2016 12:34pm Jul 5, 2016 12:34pm
Quoting mokuro89
{quote} Thanks Davit! that is not really a problem since the Pivots are Areas right? Btw, this thread gave me a new vision about Range and Retraces, really insight, thanks.
Once you understand the concept and execution you will rip up the pips.
In trading, you have to be defensive and aggressive at the same time
  • #1,013
  • Jul 5, 2016 3:41pm Jul 5, 2016 3:41pm
A/U Closed trade + 57 pips. N/U still running. 68 pips profit locked in manually trailing SL.

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'Fail to plan, plan to fail'
  • #1,014
  • Jul 5, 2016 3:49pm Jul 5, 2016 3:49pm
Quoting Guitarbloke
A/U Closed trade + 57 pips. N/U still running. 68 pips profit locked in manually trailing SL. {image}
So Im guessing you play guitar? As do I. Do you play as part of a band or solo?
  • #1,015
  • Jul 5, 2016 3:53pm Jul 5, 2016 3:53pm
Quoting Davit
Closed EG shorts +82pips Rejection of 100R {image}
You might have to expand the details on the reporting of "pips" as there is not 50 pips from the 100 to the 78 levels.

Obviously you have multiple positions but we can only guess what they are; 82 pips doesn't really tell the story.

Perhaps a risk reward summary would be better

Thanks for answering the previous question on the difference of levels depending on broker

If you see this chart of Axitrader, the 100 was the temporary top right on!

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It takes a lot for me to IGNORE you, but you can try.
  • #1,016
  • Jul 5, 2016 4:00pm Jul 5, 2016 4:00pm
Quoting Davit
Closed EG shorts +82pips Rejection of 100R {image}
nice pipping!

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Is there any good reasons for not entering on marked candle?
  • #1,017
  • Jul 5, 2016 4:21pm Jul 5, 2016 4:21pm
Quoting lukyman
{quote} So Im guessing you play guitar? As do I. Do you play as part of a band or solo?
Hey Luky. Yep, another musician here. I play in a couple of bands. Some solo stuff too. Electric and acoustic, from folk, blues to flamenco and metal. Good for the soul and good for a balance with trading. You?

NSD/CAD H4 BEOB. Closing below 0.93000/R38. Ridiculously huge spread on this pair which i didn't realise till i opened trade. No probs.

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'Fail to plan, plan to fail'
  • #1,018
  • Jul 5, 2016 5:35pm Jul 5, 2016 5:35pm
Quoting Guitarbloke
{quote} Hey Luky. Yep, another musician here. I play in a couple of bands. Some solo stuff too. Electric and acoustic, from folk, blues to flamenco and metal. Good for the soul and good for a balance with trading. You? NSD/CAD H4 BEOB. Closing below 0.93000/R38. Ridiculously huge spread on this pair which i didn't realise till i opened trade. No probs. {image}
hmm. Do I, dont I? Nope, patience dear boy!
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Guitarbloke. Yeah, am in three bands. One folk/Rock, two Roots Reggae. Rhythm/ Singer.
  • #1,019
  • Jul 5, 2016 6:40pm Jul 5, 2016 6:40pm
Quoting Erebus
{quote} You might have to expand the details on the reporting of "pips" as there is not 50 pips from the 100 to the 78 levels. Obviously you have multiple positions but we can only guess what they are; 82 pips doesn't really tell the story. Perhaps a risk reward summary would be better Thanks for answering the previous question on the difference of levels depending on broker If you see this chart of Axitrader, the 100 was the temporary top right on! {image}
There is nothing to expand details how I report pips because its obvious!Multiple positions.That's the real story.Pips are real and I post them as such.
You don't need to know what they are!Every trader should decide what risk reward they feel comfortable based on account size.
I trade the way I do and don't expect you or others to copy me but I do provide methodology to do it.
regards
In trading, you have to be defensive and aggressive at the same time
  • #1,020
  • Jul 5, 2016 7:00pm Jul 5, 2016 7:00pm
OK, so apart from one tentative attempt weeks ago I was finding it very hard to initiate a trade using this method (even on Demo, because I am trying to treat my Demo as if it were real cash like a live account), is it going to go up ... or down ...? I didn't KNOW and that stopped me even entering.

Finally after reading a few threads discussing the ethos of trading I came to the realization that basically no-one knows what is going to happen on the next candle, and it is all about managing the probabilities that price will move in a certain direction - something that I believe this thread helps give to us.

Pretty obvious to all of you no doubt, but its taken me a few months to 'get' that simple point about price.

I took the plunge yesterday afternoon and traded 4 pairs (admittedly thin volume due to US holiday), and got a pleasant surprise;

NZDUSD 3 entries total gain 209 pips.
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EURUSD 2 entries total gain 105 pips. I left it overnight so I didn't have an opportunity to worry about the horrendous pullback!
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USDCAD 2 entries total gain 142 pips, increased my TP a couple of times as this one was moving along well.
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AUDNZD 3 entries total gain 55 pips. Actually I basically got lucky here, huge overnight spike took out my SL before retreating, so this one doesn't really count hehe... Actually I have a question here - you see the second entry? How is it that it is above the actual candle and not located on the candle - is that a quirk of Demo?
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Going to put some of it down to beginners luck, and definitely need to improve my entries. Still it has broken the 'fear' of being wrong and got me started on the path ... would welcome any comments.
And yes, still on Demo, need to test some more before opening a live micro-account.
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