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Pivot Trading

  • #2,281
  • Sep 3, 2016 4:50am Sep 3, 2016 4:50am
Quoting voty
{quote} note: I shortened the post to avoid walls of text. Great that I can read in advance partially. I've ordered last week on Amazon: Trading in the Zone + Disciplined Trader + Reminiscences of a Stock Operator + High Probability Trading. Only patience I need, shipping to my country takes one month...
This is okay. But my advice will be that you concentrate on one of the books since they all deal with the subject of trading psychology. My first choice of course, is Trading In The Zone.
  • #2,282
  • Sep 3, 2016 5:05am Sep 3, 2016 5:05am
Quoting Davit
{quote} Great job but you do realize you took way too many losses unnecessarily on UC in great spot like 3104 3103 and so on. Looks like you got out early as well. Overall great start for Sept.Just keep in mind that I sense the reason you closed those trades early because your lots were big so you panicked...and closed perfectly well placed trades...that's my reading on your trading by simply looking at your closed trades. By simply reducing your lots you could of ride that baby 90pips south all of them without stress or worry!Anyway thanks for...
And the same for NZDCAD, you should keep the trade in my opinion. If you look on weekly, this was all time high and was tested 4th time recently. And the way it was rejected looks promising. Of course that's because oil resumed on Friday and it all depends how it goes from now with oil.
I'm in this short at R100 and plan to let it run for 400-800 pips. That could could be weeks to months so one need to be patient here.
We can also have a break on the 5th attempt if the oil continue to dive and that's why we have stop-loss.
buying tops / selling bottoms
  • #2,283
  • Sep 3, 2016 5:12am Sep 3, 2016 5:12am
Davit, can you explain how to trade but especially with big news line Non Farm etc on the next day, i mean we dont know usd will bearish or bullish until the news was announced.
thats why i didnt trade UC yesterday..its also an A setup with Davit pivot. but i was scared to took the trade because i knew nothing about fundamental.yes maybe i can read some websites about what will happen but thats it..
im asking this question to arjun after he posted his trade setup on UC but he didnt reply.

thanks
  • #2,284
  • Sep 3, 2016 5:24am Sep 3, 2016 5:24am
Quoting ayoayo
{quote} This is okay. But my advice will be that you concentrate on one of the books since they all deal with the subject of trading psychology. My first choice of course, is Trading In The Zone.
Oki thanks and yes, I will not jump from one book to another. That is like reading for the next three years.
Indeed I will start the Trading In The Zone...
buying tops / selling bottoms
  • #2,285
  • Sep 3, 2016 7:43am Sep 3, 2016 7:43am
Quoting dnl
Davit, can you explain how to trade but especially with big news line Non Farm etc on the next day, i mean we dont know usd will bearish or bullish until the news was announced. thats why i didnt trade UC yesterday..its also an A setup with Davit pivot. but i was scared to took the trade because i knew nothing about fundamental.yes maybe i can read some websites about what will happen but thats it.. im asking this question to arjun after he posted his trade setup on UC but he didnt reply. thanks
I can not possibly cover years of experience in one post.There are times I take the risk like Friday because summer generally not hiring months then we had floods in Louisiana on historical record level not seen in thousand years so probability of that number being red was great and forecast was red as well.
There are times when I stay on sidelines on news like interest rate decisions etc.
In most simple terms if you feel "afraid" from the market then please don't place trades.That mindset is exactly what you don't need in trading.
When you feel confident and good then place your high probable trade and let the trade be.

good source of business news is Bloomberg which I use a lot plus their live TV is great.FF news is decent as well depending on quality of articles submitted.
Google is your friend.Usually I find same data or news gets covered by everyone.
In trading, you have to be defensive and aggressive at the same time
  • #2,286
  • Sep 3, 2016 7:46am Sep 3, 2016 7:46am
Quoting voty
{quote} And the same for NZDCAD, you should keep the trade in my opinion. If you look on weekly, this was all time high and was tested 4th time recently. And the way it was rejected looks promising. Of course that's because oil resumed on Friday and it all depends how it goes from now with oil. I'm in this short at R100 and plan to let it run for 400-800 pips. That could could be weeks to months so one need to be patient here. We can also have a break on the 5th attempt if the oil continue to dive and that's why we have stop-loss.
excellent post.you got potential
In trading, you have to be defensive and aggressive at the same time
  • #2,287
  • Sep 3, 2016 7:59am Sep 3, 2016 7:59am
Quoting Tx15
{quote} Davit, thanks for your quick response. In the past, I was accustomed to placing a single position with a SL loss above or below the last swing high or low depending on direction of trade (taken out many times by spikes). My position was normally 1% of account. I am beginning to realize the advantage of taking the same 1% of account and dividing it into multiple positions. Place the first trade at a pivot where PA supports a long or short position, and if trade moves favorably, I can add additional positions at the dips, retracements, or...
Hi Tx15
I like your progress here and please do continue.One observation you can also get out by .25% of the lot should you be totally wrong I mean market does smash zones as well and your loss will be .25 instead of 1full lot. I am glad you are starting to understand what I do.
Small lots is key both mentally and financially.Even with small lots I trade I still hit my monthly goal and without worry or stress.
regards
In trading, you have to be defensive and aggressive at the same time
  • #2,288
  • Sep 3, 2016 8:01am Sep 3, 2016 8:01am
Quoting ayoayo
>>>
Quoting Davit
I keep rereading and rereading "Trading in the Zone" by Mark Douglas Reason is every chapter is simply gold nuggets. He highly influenced how I trade.He made me understand what true probability is and sample size (one needs large sample size to test how successful my system is hence "trying" out short time is futile CHAPTER 7 THE TRADER'S EDGE: THINKING IN PROBABILITIES..... This is the very best advice that traders especially new traders are given in this thread. Please do not take it lightly. It will change your trading
...
welcome and please post your trades
In trading, you have to be defensive and aggressive at the same time
  • #2,289
  • Sep 3, 2016 8:48am Sep 3, 2016 8:48am
Quoting Davit
{quote} I can not possibly cover years of experience in one post.There are times I take the risk like Friday because summer generally not hiring months then we had floods in Louisiana on historical record level not seen in thousand years so probability of that number being red was great and forecast was red as well. There are times when I stay on sidelines on news like interest rate decisions etc. In most simple terms if you feel "afraid" from the market then please don't place trades.That mindset is exactly what you don't need in trading. When...
thanks Davit, so watch bloomberg and reading fundamental magazines is a must for every trader right?
  • #2,290
  • Sep 3, 2016 5:42pm Sep 3, 2016 5:42pm
Quoting Davit
{quote}{quote} welcome and please post your trades
Davit,
it would be my pleasure to post trades here. But I have indicators and other inputs that are not part of your trading templates. Divergences is one of them and from your previous post it seems that it is not a critical part of your trading and that you just 'observe them form'.
I do not want it to look like am complicating a simple system. Or what do you think?
  • #2,291
  • Sep 3, 2016 6:55pm Sep 3, 2016 6:55pm
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  • #2,292
  • Sep 4, 2016 12:19am Sep 4, 2016 12:19am
Taking a break will be good for refocus.

In Forex we need time to absorb the intensity that we have encounter everyday. We also need to to clean our head by taking time off. So that, when we are back to tradings, we will be more focused and achieve more in less time.

I recommend you to watch this movie. Tim Vermeer. It is about Tim Jenison's effort to duplicate the painting techniques of Johannes Vermeer. Look at his effort and detail in achieving the result.

Im trying to copy Davit's trading techniques to be successful forex trader.
Attached Image
Let all the living things live blissfully
  • #2,293
  • Sep 4, 2016 12:24am Sep 4, 2016 12:24am
Quoting MidnightRun
{quote} Are you the same Arjun who started a 10EMA-TDI thread about 4-5 years ago and then disappeared? (Love Everyone)?
Hi,

Not me. I was 15 years old , 5 years ago. Please refrain in asking personal question that non related to Davit's Trading Method. The least we can do to respect Great Mentor.
Let all the living things live blissfully
  • #2,294
  • Sep 4, 2016 12:29am Sep 4, 2016 12:29am
Quoting ZeF
{quote} Arjun, Congrats on the successful trade. I'm assuming you are aware of that candle you are referring to was the M1 9:30 GMT GBP Manufacturing PMI news release which ended up beating expectations by a factor of 5. This is why price went "your way", but it could have well gone the other way. All the interpretation around it is pure speculation. Cheers,
Must be my lucky day then.....

Thanks for joining this thread, your comment and ideas will definitely help and improve my trading.

Have a great weekend.
Let all the living things live blissfully
  • #2,295
  • Sep 4, 2016 12:34am Sep 4, 2016 12:34am
Quoting Tx15
{quote} Thank you Arjun for being patient with me, and sharing your logical approach to making decisions. I do understand what you have said, but will go over it several times, and make additional notes for future reference. I will try and not make a nuisance of myself, as I know you and Davit are busy trading, and trying to answer questions will only break your concentration. I sincerely appreciate your time and sharing, TX

Tx15,

great to have you active in this thread. Your question is valid and sometimes I'm not able to answer your question due to the reason on my "vocabulary limitation". I'm not well verse with the terminology, but understand the principle behind each trade I've taken. In short, I am very poor in salesmanship, but excellent accountant with numbers.

Keep up the good work in this thread and your question always valuable to me, as an eye's opener.
Let all the living things live blissfully
  • #2,296
  • Sep 4, 2016 12:40am Sep 4, 2016 12:40am
Quoting Tx15
{quote} Thanks again. I notice there were about three bounces off the S38 area that included three nice bull candles showing HLs. Why did you choose to place your buy trades at higher levels rather than at the dips?
There were two session trade on that day.

I took one trade ( several entries) during Asian Session. Then close it.

Later , during NY session, I took another trader ( also with several entries) as PA made a "Minor support". Then price break to the upside.

Sorry for the delay in answering your question, as i was a bit heavy trading only on this pair (GU). If not mistaken, there were a news release during NY Session.

My apology, will try to answer you as fast possible in your future question.



P/s - Appreciate if you could post the chart when asking question, at least we on the same page/trade and clarity by referring to the chart. Thanks
Let all the living things live blissfully
  • #2,297
  • Sep 4, 2016 12:46am Sep 4, 2016 12:46am
Quoting Machinator
{quote} Arjun ,incredible analyze!!! Enjoying myself!! Keep your work only Up!!! Rgs.,
Credit due to Davit's Great Trading Strategy. I'm just following his basic rules in trading as laid out in Post #1

I'm still in the process of learning his methodology. Testing and reading chart. Hope to understand it fully in 3 to 4 years down the road. Meanwhile, i'm still a student here.
Let all the living things live blissfully
  • #2,298
  • Sep 4, 2016 12:52am Sep 4, 2016 12:52am
Quoting Davit
{quote} Congrats for great successful trading specially on GU The point I have been making here is that one does not have to be all over the map trading 16pairs.Your GU example is perfect that 1 pair on 5-10 positions is equal to 5-10 pairs traded with 1 position each.So its not about how many pairs but execution of 1 great trade. Continue piling those greenies
Thanks a lot to you.

You open up this thread to help others. I personally cannot repay your great work, in return i will try to help others to achieve the same.

If i made wrong comments or analysis, please correct me, as im still learning to improve my trading.
Let all the living things live blissfully
  • #2,299
  • Sep 4, 2016 12:55am Sep 4, 2016 12:55am
Quoting MidnightRun
{quote} Are you the same Arjun who started a 10EMA-TDI thread about 4-5 years ago and then disappeared? (Love Everyone)?

This was answered in Post #2,293

Whoever is disappear, let him rest in peace. May be he found his sanctuary now. God blessed everyone.
Let all the living things live blissfully
  • #2,300
  • Edited 2:07am Sep 4, 2016 1:14am | Edited 2:07am
Quoting dnl
{quote} hi Arjun.. if we trade using Davit pivot chart, UCad seems will start go down. i also watching this pair, but how about the next 3hours news USD unemployed claim?
dnl,

I ve answered your question. Maybe you have missed it. My answer normally to the general members of this thread. Even thos , i didn't address you personally, but the following answer is suffice to clear any doubt you had.

This Post #2,208 had 48 pips SL. In case you worried about News trading will wipe your account.

This Post #2,225. Do you see 1,2,3 pattern there ?.

This Post #2,244 again , 1,2,3 completed, PA could't break R100.

Everything, you want is there. The answer is lying in front of you . I cannot put each single words in my posting like new traders thread.

This last Post #2,246, this is very blunt. Asking you to close the trade, I think I shouldn't do that in the future.

To be in this thread you must a least understand what is PA without indicators. Understand Support and Resistance, can define/identify which is "Pull back" which is "reversal".

"You said , in 3 hours there is USD News event."

I don't trade news, I only trade what PA show me. If it reverse, then, let it be to take my SL. I consider those are my cost of doing business.

It is nearly impossible to find a system that will reduce the bad trades while giving you all the positive trades.

I move on with next set up and learn each and every trade i took.

Honestly, i cannot baby sit you alone, as I need to help other members to understand Davit's Strategy to my best of understanding.

You're welcome here and please participate actively in this thread, and keep on asking question. Answer may come in many form, but it may be in general to all member, not specifically address to you. I hope you understand this.

And please note , whenever you post questions, please include your chart, at least I know what's you thought is.
Let all the living things live blissfully
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