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Pivot Trading

  • #2,401
  • Sep 6, 2016 9:47am Sep 6, 2016 9:47am
Quoting voty
{quote} To be honest I don't see the trade going against you. That would be making higher high and piercing through R38. What was your plan in that case ? btw. I'm short here also.

My first entry was 16:00 hours yesterday.

It goes down after London closed, made 150+ pips, but I didn't cash out thinking to get more from Tokyo open.

Unfortunately, Price start to go up after Tokyo and bounce up again during London.

New York session saved me, when price finally breakdown.
Let all the living things live blissfully
  • #2,402
  • Sep 6, 2016 9:55am Sep 6, 2016 9:55am
Quoting Davit
{quote} Arjun you are one of the small group here that get what I am doing.I spend years trying to figure how to beat the market and have an edge.Yes small lots is one of the key components! continue doing excellent work here
Davit

I am also following this ".Yes small lots is one of the key components!"

Thanks
  • #2,403
  • Sep 6, 2016 10:16am Sep 6, 2016 10:16am
NU looks like Topped out
way over ADR 78R to T
In trading, you have to be defensive and aggressive at the same time
  • #2,404
  • Sep 6, 2016 10:33am Sep 6, 2016 10:33am
Hello Davit and Arjun,

I first want to thank you guys for sharing your knowledge. I haven't read the whole thread yet, but I am learning a lot from you guys.
I hope I'm not asking a question somebody already asked. I was wondering if you could give some advice about when you trigger your multiple positions.

I see you guys usually take roughly 5-15 positions (I hope that is correct). Do you stick to any guidelines on when to add positions? For instance, do you add positions looking at lower timeframe price action? Do you simply add positions as the trade is going in your favor? Do you add positions when the trade is going against you as well?

I would really appreciate any sort of advice. Thank you.

+ One more question: Davit, when it comes to ADR, is 120 your rough cut-off point? Thanks.
  • #2,405
  • Sep 6, 2016 11:03am Sep 6, 2016 11:03am
Entered long U/C. Currently below S100 Todays low touched level of last major daily low. Oil price low relative to these levels.
Attached Image (click to enlarge)
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  • #2,406
  • Sep 6, 2016 11:25am Sep 6, 2016 11:25am
Quoting Davit
{quote} Arjun you are one of the small group here that get what I am doing.I spend years trying to figure how to beat the market and have an edge.Yes small lots is one of the key components! continue doing excellent work here
Wow - what a difference a week makes!
Been away on business, with limited time to trade and post. In that time though the thread has exploded with positive input.

Great to see new pivoteers on board and making green pips.

Currently stalking AU and NU. Will see if NU is rejected at the R78 level and breaks down - or decides it wants to move out to R100 zone. AUD currently has strength across the board, but important GDP figures tonight that may well dictate next short term price direction.

I held my remaining shorts in UC into this week as there was the weekly pivot level at 2950 that wasn't hit last week and it was duly hit on Monday - so closed out them out for profit. UC now very extended on the short side in between S100 and S138. USD currently taking a hammering after poor data - but there is a weekly pivot at around 3040 that price will eventually be pulled back towards.

If you look at last weeks price action on UC there was a similar over extension on the upside, as price tried to break above R100 and eventually moved down to the weekly pivot. This week we have the opposite playing out - a heavy move to the downside, with the weekly pivot zone a potential retracement target.

Currently short ACHF at around the R100 zone. +140 pips so far. Weekly pivot zone is target around the 7400 level. Will watch AUD GDP data later and assess trade accordingly.
  • #2,407
  • Sep 6, 2016 11:30am Sep 6, 2016 11:30am
Quoting mch1970
{quote} Wow - what a difference a week makes! Been away on business, with limited time to trade and post. In that time though the thread has exploded with positive input. Great to see new pivoteers on board and making green pips. Currently stalking AU and NU. Will see if NU is rejected at the R78 level and breaks down - or decides it wants to move out to R100 zone. AUD currently has strength across the board, but important GDP figures tonight that may well dictate next short term price direction. I held my remaining shorts in UC into this week as...
ACHF trade attached

Attached Image (click to enlarge)
Click to Enlarge Name: ACHF_060916_001.png Size: 71 KB
  • #2,408
  • Sep 6, 2016 12:19pm Sep 6, 2016 12:19pm
Quoting mch1970
{quote} Wow - what a difference a week makes! Been away on business, with limited time to trade and post. In that time though the thread has exploded with positive input. Great to see new pivoteers on board and making green pips. Currently stalking AU and NU. Will see if NU is rejected at the R78 level and breaks down - or decides it wants to move out to R100 zone. AUD currently has strength across the board, but important GDP figures tonight that may well dictate next short term price direction. I held my remaining shorts in UC into this week as...
Glad to have you back mch1970. Always enjoy your input,
TX
  • #2,409
  • Sep 6, 2016 3:25pm Sep 6, 2016 3:25pm
Quoting fibo38
{quote} Bakamx, use pivot 3.
Hi Fibo38,

I didn't understand your suggestion... what do you mean by pivot 3?

Thanks!
  • #2,410
  • Sep 6, 2016 3:43pm Sep 6, 2016 3:43pm
Quoting bakamx
{quote} Hi Fibo38, I didn't understand your suggestion... what do you mean by pivot 3? Thanks!
try this
Attached File(s)
File Type: mq4 Pivot 3.mq4   14 KB | 803 downloads
In trading, you have to be defensive and aggressive at the same time
  • #2,411
  • Sep 6, 2016 3:44pm Sep 6, 2016 3:44pm
Quoting mch1970
{quote} ACHF trade attached {image}
well done and welcome back
In trading, you have to be defensive and aggressive at the same time
  • #2,412
  • Sep 6, 2016 4:23pm Sep 6, 2016 4:23pm
Quoting Arjun-LE1
I trade GJ & UJ today. Both are short trade. But GJ had given me a nerve wrecking drawdown, but luckily it is smaller lots, which is around 1% of my account. GJ is a beat and difficult pairs to trade. I will be extra cautious in handling GJ in future. Overall, I knew, GJ is going down ( from yesterday), but GJ keep on spiking up, against me. Psychologically, if I trade my normal lots, for sure I have to take the beating and loose money. But with Davit's method ; i still can hold position, until the trade turns on my favor. UJ is just straight...
Nice trades! Personally I don't have the nerve to trade on, or so close to the weekly pivot, I prefer to trade back towards the pivot from 61 or higher.
  • #2,413
  • Sep 6, 2016 5:40pm Sep 6, 2016 5:40pm
Great pips from AU. Picked up the momentum around R62 and rode it to R100. Out for now.

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  • #2,414
  • Sep 6, 2016 7:42pm Sep 6, 2016 7:42pm
Quoting magicalmalin
Great pips from AU. Picked up the momentum around R62 and rode it to R100. Out for now. {image}
Excellent clean execution!
In trading, you have to be defensive and aggressive at the same time
  • #2,415
  • Edited 9:33pm Sep 6, 2016 7:50pm | Edited 9:33pm
Closed NJ +196pips
carry over from last week.
Truth of the matter this pair overrun extreme levels above R138 so I was able to turn a loss into profit by selling from higher up.
Sometimes it works and other times best to get out.Reason I stayed because like I said this pair was way overbought.It still is OB but NZD is super strong now so got out.
Just sharing my trading thought process.Benefit of trading small lots allows recovery.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #2,416
  • Sep 6, 2016 8:00pm Sep 6, 2016 8:00pm
Nice start for the month
results after 4days of trading Sept
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In trading, you have to be defensive and aggressive at the same time
  • #2,417
  • Sep 6, 2016 8:03pm Sep 6, 2016 8:03pm
UC watching this
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In trading, you have to be defensive and aggressive at the same time
  • #2,418
  • Sep 6, 2016 8:06pm Sep 6, 2016 8:06pm
Magic of pivots 61R to T
Stalling now looks like its running out of steam
Most often Asia does not have the necessary liquidity to push major pair like EU hence best wait LO to confirm direction
pairs that do move during Asia are Yen,NZD,AUD and their crosses
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In trading, you have to be defensive and aggressive at the same time
  • #2,419
  • Sep 6, 2016 9:09pm Sep 6, 2016 9:09pm
These are the 3 pairs UC, NU, and AU (only track 6 pairs) that I am currently watching. I only consider pairs that have an ADR less than 130, and are in the positive zone of 61 - 100. Greater than 100 is even better. UC is really deep at S138. Will check again at 8 PM (CST) and again at 12 PM (CST). If PA supports, I will place an initial mini position of .05. If the position moves as anticipated, I will will add an additional 4 positions of .05 at pull backs or even before a bar closing. The point is, I will have a maximum of 5 positions, or .5% of my account. At 12 PM my time, I can go to bed and not be concerned until I check the positions at 4 AM.
Three charts are attached...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU H4.jpg Size: 231 KB
Click to Enlarge Name: NU H4.jpg Size: 232 KB
Click to Enlarge Name: UC H4.jpg Size: 225 KB
  • #2,420
  • Sep 6, 2016 9:47pm Sep 6, 2016 9:47pm
Entering LONG EUR GBP.

I think this is counter trend trade. Reversal until Pivot Point.

Once it reach Pivot, I will analyse PA.
Attached Image (click to enlarge)
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Let all the living things live blissfully
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