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Pivot Trading

  • #2,661
  • Sep 15, 2016 8:38am Sep 15, 2016 8:38am
Quoting gomab11
Hi davit...great thread.. i will definately be following it...a question what you think about EA playing around here at this resistance...is it getting whoozy and reading to fall off cliff?
welcome I am short on It ATM
just need to wait.Lot of things will get moving by friday and whole lot more after rate decision
In trading, you have to be defensive and aggressive at the same time
  • #2,662
  • Sep 15, 2016 8:48am Sep 15, 2016 8:48am
Quoting Davit
{quote} Had your position been small you could of held and add more from 32. Please read my comments on position size.You don't reduce your size then you are going to take loss after loss because market spikes all the time regards
Got ya. Will do and thanks!
I also ignored my entry rules so yeah... dumb trading.

This is what I look for: break of resistance, retracement and a rejection = resistance becomes support.
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  • #2,663
  • Sep 15, 2016 8:53am Sep 15, 2016 8:53am
Quoting Davit
{quote} welcome I am short on It ATM just need to wait.Lot of things will get moving by friday and whole lot more after rate decision
Great! one quick question tho...i know i read this in the thread about your when you take profit..but if i can ask you again...do you take profit on pure price action against you at s/r or do you follow your trades placing your stops behind s/r or u just go for a tardet or do you just have another way..sorry if im being redundant...it just i can get into great positions thats simple..but i have a hard time cashing out...sometimes holding for more and end up getting a small percent of what i had..not cool
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #2,664
  • Sep 15, 2016 10:20am Sep 15, 2016 10:20am
Short on EG at R61.....
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  • #2,665
  • Sep 15, 2016 10:26am Sep 15, 2016 10:26am
Quoting Davit
This is what I am talking about I have UC shorts in minor DD and its fine.I can easily hold this and should price jump to 3280 which is unlikely but should it get there my positions will be there and I most likely will add higher up and wait.Sometimes you must think like an investor you are buying great price at discount and only requirement is to wait. Jesse livermore perhaps greatest trader ever lived (not far from where I live) It was never my thinking that made the big money for me, it always was sitting.. {image}
Excellent Dear Brother Davit , was enter long @gold few minutes ago from D1,h4 strong support level (bluebox)
exit mannually with 69+ pips
take care Dear Brother Davit
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  • #2,666
  • Sep 15, 2016 10:34am Sep 15, 2016 10:34am
Good system Davit!

150+ PIPS and counting. Good thing is that you know where you SL is.

Posting GBPCAD daily chart, though I trade w/ this system 4H chart only.
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  • #2,667
  • Sep 15, 2016 11:31am Sep 15, 2016 11:31am
Hello Davit and all.

I managed to get short on EC from R100. I noticed that price was showing signs of weakness and TDI was OB while Iwas on my lunch break. I went back to work and kept monitoring on my phone. A little technical error meant that my initial trade was only 0.01 lots but over all really happy with the result.

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Indentify > Plan > Accept > Execute
  • #2,668
  • Sep 15, 2016 1:31pm Sep 15, 2016 1:31pm
Quoting wizlon32
Hello Davit and all. I managed to get short on EC from R100. I noticed that price was showing signs of weakness and TDI was OB while Iwas on my lunch break. I went back to work and kept monitoring on my phone. A little technical error meant that my initial trade was only 0.01 lots but over all really happy with the result. {image}
Nice trading wizlon32.
Also short EC and UC from R78 and R100. As Davit mentioned these pairs should start to move as we approach the Sept Fed meeting.
  • #2,669
  • Sep 15, 2016 1:41pm Sep 15, 2016 1:41pm
Quoting Davit
This is what I am talking about I have UC shorts in minor DD and its fine.I can easily hold this and should price jump to 3280 which is unlikely but should it get there my positions will be there and I most likely will add higher up and wait.Sometimes you must think like an investor you are buying great price at discount and only requirement is to wait. Jesse livermore perhaps greatest trader ever lived (not far from where I live) It was never my thinking that made the big money for me, it always was sitting.. {image}
I'm with you on this one. Also short UC from R78 and added to position at R100. Had a small drawdown, but it is manageable because of small trade sizes. We've had near on 500 pips from S61 to R100, so some patience required to make some green pips on the reversal.
  • #2,670
  • Sep 15, 2016 1:54pm Sep 15, 2016 1:54pm
Quoting S3ntin3l
Short on EG at R61..... {image}
Target hit .....
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  • #2,671
  • Sep 15, 2016 2:46pm Sep 15, 2016 2:46pm
nice trading guys
EC in profit EA in profit UC in profit
UC tp WP at 29
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In trading, you have to be defensive and aggressive at the same time
  • #2,672
  • Sep 15, 2016 2:51pm Sep 15, 2016 2:51pm
Quoting gomab11
{quote} Great! one quick question tho...i know i read this in the thread about your when you take profit..but if i can ask you again...do you take profit on pure price action against you at s/r or do you follow your trades placing your stops behind s/r or u just go for a tardet or do you just have another way..sorry if im being redundant...it just i can get into great positions thats simple..but i have a hard time cashing out...sometimes holding for more and end up getting a small percent of what i had..not cool
I follow market situation.Some pairs are in range NC AC for example and some have higher probability making over 100pips distance.You must identify the nature of the pair you are trading.Trending or ranging.Once that is out of the way you should take 50-100pips targets.I sometimes go longer or shorter depending on PA
So there is no generic formula.Every pair sort of has a personality and moves unique way.Beauty of my system is that it eliminates guesswork irregardless of the pairs.
regards
In trading, you have to be defensive and aggressive at the same time
  • #2,673
  • Sep 15, 2016 2:59pm Sep 15, 2016 2:59pm
Just added a disclaimer on my 1st page.Very clear what this thread is about.
In trading, you have to be defensive and aggressive at the same time
  • #2,674
  • Sep 15, 2016 3:01pm Sep 15, 2016 3:01pm
Quoting wizlon32
Hello Davit and all. I managed to get short on EC from R100. I noticed that price was showing signs of weakness and TDI was OB while Iwas on my lunch break. I went back to work and kept monitoring on my phone. A little technical error meant that my initial trade was only 0.01 lots but over all really happy with the result. {image}
this could go all the way to 46 WP
In trading, you have to be defensive and aggressive at the same time
  • #2,675
  • Sep 15, 2016 3:02pm Sep 15, 2016 3:02pm
Quoting mch1970
{quote} Nice trading wizlon32. Also short EC and UC from R78 and R100. As Davit mentioned these pairs should start to move as we approach the Sept Fed meeting.
Thanks mch1970.

Davit,

I have not managed to read the whole thread yet but I am working my through from the beginning, trying to pick out little nuggets along the way.

For example I have used the Daily Open Line and ADR Values before in my trading, but today I have read how you apply them and suddenly they seem mch more practical and valuable. Now they will be on my charts and not just as meaningless clutter.

I will keep reading
Indentify > Plan > Accept > Execute
  • #2,676
  • Edited 3:21pm Sep 15, 2016 3:09pm | Edited 3:21pm
Quoting wizlon32
{quote} Thanks mch1970. Davit, I have not managed to read the whole thread yet but I am working my through from the beginning, trying to pick out little nuggets along the way. For example I have used the Daily Open Line and ADR Values before in my trading, but today I have read how you apply them and suddenly they seem mch more practical and valuable. Now they will be on my charts and not just as meaningless clutter. I will keep reading
I like your attitude Wizlon.You keep that up and you will grow as a trader.

I am a huge fan of Mark Douglas whom I credited to hammer the idea of Edge and probability in my trading and which inspired me to put this system together.
Please watch this genius.Beautifully explains lot of things that most traders don't even think about.
Inserted Video


You could actually if you want comment what parts you thought was great.In all honesty this thread alone without slightness pompousness if you follow carefully and execute properly will cut your learning curve in half.Instead of you struggling 10yrs and not making money this will get you making money less time then you think.
Requires effort to address below
Risk parameters/Stop loss/Take profit/Methodology (edge probability) /trading psychology
focus and decide these parameters and trade with confidence
In trading, you have to be defensive and aggressive at the same time
  • #2,677
  • Edited 3:56pm Sep 15, 2016 3:38pm | Edited 3:56pm
Biggest dilemma lot of new traders face is not understanding nature of probability.
They chase system after system and after few losses move on to another system and this goes on for average 3-5yrs until something hits you in the head.
What is critical to understand that just about every average system is profitable provided you give enough sample size with defined edge until probability plays out.
That could mean 100 trades.Most gave up after 10.In fact there are guys here on this thread made good money then dissipated.I just know they are blindly looking for another holly grail.
My advise is you will not know if this is profitable unless you have large sample size( have over 1k trades.That's the honest truth.So commit or move on to another system but no matter what you do until you have a trading plan,parameters defined no system will work in the long term..
Video above at 18min Mark talks about this the sample size.This is very important.Series of trades to allow the Edge to play out.

below my equity since Jan 2016
This is my large sample size

Total Trades:393Short Positions (won %):370 (81.35%)Long Positions (won %):23 (39.13%)
Profit Trades (% of total):310 (78.88%)Loss trades (% of total):83 (21.12%)
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In trading, you have to be defensive and aggressive at the same time
  • #2,678
  • Sep 15, 2016 7:10pm Sep 15, 2016 7:10pm
Quoting Davit
{quote} I follow market situation.Some pairs are in range NC AC for example and some have higher probability making over 100pips distance.You must identify the nature of the pair you are trading.Trending or ranging.Once that is out of the way you should take 50-100pips targets.I sometimes go longer or shorter depending on PA So there is no generic formula.Every pair sort of has a personality and moves unique way.Beauty of my system is that it eliminates guesswork irregardless of the pairs. regards
yes that is exactly what i like about it...all pairs swing..we want the pairs to swing...and the pivots are a road map to those swings... thanks for the answer
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #2,679
  • Sep 15, 2016 7:40pm Sep 15, 2016 7:40pm
Quoting Davit
Biggest dilemma lot of new traders face is not understanding nature of probability. They chase system after system and after few losses move on to another system and this goes on for average 3-5yrs until something hits you in the head. What is critical to understand that just about every average system is profitable provided you give enough sample size with defined edge until probability plays out. That could mean 100 trades.Most gave up after 10.In fact there are guys here on this thread made good money then dissipated.I just know they are blindly...
It's inspiring.
  • #2,680
  • Sep 15, 2016 9:10pm Sep 15, 2016 9:10pm
Quoting hammadshahir
Good system Davit! 150+ PIPS and counting. Good thing is that you know where you SL is. Posting GBPCAD daily chart, though I trade w/ this system 4H chart only. {image} {image}
Hi H
Good start.Just a request please post chart without additional indicators.Bollinger Bands is not part of this system.I just really need to keep this thread on track can't have people post whatever charts they like.Thanks for your understanding
In trading, you have to be defensive and aggressive at the same time
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