Pivot Trading

great trading interesting pair AUD/CHF

Yihaaa...

same here but that's ok I got 761pips out of it over hundred pips each trade so its cool
always another trade on the corner. What's important that our accounts are growing unlike majority of traders in general
good job

Hi Davit Listening to MD and he says basically you need to take every trade which is fine as long as the pairs are not correlated and fit your into your system if the pairs correlate do you trade more than 1. what is your view

Don't be hasty to short UC EC or any CAD pair yet.Usually Fridays is dumping day,profit taking that means oil bulls jumping ship and crude may drop as low as
45 its already heading south.Stick with high probability trades and you would do great
if someone can post crude chart with my template that would be fantastic.Just need to see the levels

no he does not say you need to take every trade.He says you need to take every trade with an EDGE since you don't know which one would be a winner or loser and over good sample size your edge shows profit provided you have genuine edge.
I did not hear anything about correlation from him.I often trade correlated pairs,Just this week shorted EC and UC and some here even shorted AC NC UC and EC
Danger is about over exposure and if you can handle in terms of account size then its fine.Its just another trade.

[quote=Davit;9170087]{quote} no he does not say you need to take every trade.He says you need to take every trade with an EDGE since you don't know which one would be a winner or loser and over good sample size your edge shows profit provided you have genuine edge.[/quote What I meant was that they meet your edge

GU is being pushed down which means EG going up.Look for opertunity to short EG when its right time
may not have enough legs to reach 61R I think 38R is max here...I could be proven wrong as well

reason of my deduction is GU look at 38S previous bounce

[quote=Ibar51;9170091] Ok lets talk realism Barry .I don't want you to go and start taking every trade on every pair you see in the zone 61-100 cross the board.
Prefer you focus medium level ADR pairs 50-130 max beyond that you better have your SL in place because GN GA GJ can blow 300pip move against you in a fly.
Please read the thread and honestly if you have less then 2 years experience in forex just try something else because you need screen time to read price action correctly.

We also take the trade that shows the move with PA and TDI confirmation so its not automatic random trades.
As I and many traders already done you don't need to trade lots of pairs just need to trade the right pair at right time and your account will grow without much stress.
There are also fundemetal aspects as well.I am not going to trade a pair I know nothing.I like CAD because I know lot about it same with AUD NZD GU EU USD in short majors.Don't trade the Yen but that's personal preference since BOJ has a history of interference and rather not deal with that.
I hope that was helpful

I like to get in on EA again and very good chance of correction move to 38S

Thanks Davit the reason I asked that question as I was listening to DM and watching EurCHF and GBp/CHF and was thinking which one w ould I take if they both met the criteria

i didnt put my TP too close this time +242
+26.91% this week

GF does not qualify EF does

that's my man! That's what I like to see freakin 26% gain
ok where is my %

So lets go over when and how to take a trade

EF
Price at 61R=is not an automatic trade needs to confirm with PA and TDI
PA 30 solid bear next 30 rejected tail on bull side suggesting bear move is not over yet.
TDI sloping down

15 min engulfing Bear candle and weak bull rejected tail and now another bear candle forming
Putting this in 10seconds tells me its not ready to buy yet

This is probably most profitable thread at FF and most rigid with tight rules LOVE IT

Why on this thread some make mega pips and others get banned or can't follow instructions

Please read on
The Bet
“We’re going to raise traders like they raise turtles in Singapore.” That is what one of the world’s famous commodities speculators, Richard Dennis, said to his good friend William Eckhardt, an equally successful trader. Back in 1983, a debate that had been brewing between the pair took a serious turn when standing in a turtle farm in Singapore. The now-legendary bet was made between the two regarding the age-old argument of nature versus nurture, and one’s ability to trade. Dennis strongly believed that anyone with the right mentoring and nurturing could be transformed into a formidable trader, whereas Eckhardt believed that it was down to nature: one was either born to trade, or not.
The Turtles
And so the experiment began. Large adverts were put in The Wall Street Journal inviting anyone with an interest in trading to apply to become a mentee under the guidance of Dennis. The ad specified that Dennis would teach the group his trading methods and give each mentee a trading account loaded with a million dollars. After a rigorous intelligence and aptitude test and an interview session with both traders, applicants were whittled down from over 1000 to just 13. The Turtles were born.
Who Is Richard Dennis?
Dennis was known by the nickname “The Prince of the Pits” — the pits being the chaotic trading floor that traders call “home”. He had earned this by turning a few thousand dollars into several hundred million by his mid-thirties. Dennis put his own money on the line during the experiment, making a clear statement that he not only fully understood the reasons behind his phenomenal success, but that he was able to pass this information on, turning the recipient into a formidable trader. After an initial two-week training period where they were trained in Dennis’ strategies and methodology, the Turtles went on to make an average return of over 80 percent a year over the next four-and-a-half years.
What Was Needed To Be A Turtle?
The mentees selected had varying levels of intelligence and trading experience. Some were even complete novices like Curtis Faith, who went on to be the most successful Turtle. They were all, however, screened based on two key areas: firstly to be able to understand the markets as a general trading requirement, and secondly all had the common trait of a good knowledge of probability mathematics, gaming theory and strategy. Careers amongst the Turtles ranged from a blackjack and backgammon player to an accountant.
Why These Traits?
The relevance of this becomes clear when one understands the theory behind market movement and long-term trading success. In 1983, just as is the case today and something I understand very well, the Turtles learned that any single moment in the market is random but over a period of time patterns in the market repeat themselves. Dennis, in the two-week training period, would have explained his understanding of market movement. Being mentored by someone with such unrivaled success should, in theory, have made it easier to absorb his strategies and knowledge. Blind faith should have been placed in him, to put it simply.
Surprising Results
It may then come as a surprise that after the initial one-month trial period, during which the traders put into practice the knowledge they had been given, they produced a varying set of results. From the very early stages, Faith showed an ability to follow rules without any form of deviation, but some of the Turtles found following Dennis’ rules a real challenge. What is so elusive about mastering trading that, after one month of trial trading, such varying results were produced?
Challenges Of The Human Thought Process
As Curtis Faith explains in his book in more detail, the answer lies in “trading psychology” and the irrational thought innate in the decision-making process of each individual. Hope, fear, greed and disappointment all play their part in the failure of the vast majority who turn to trading. A classic mistake made by rookies is to let losing trades run, in the hope of clawing back what has been taken by the market, and to get out early from winning trades, in fear of losing profits to the market. The Turtles were made to understand that these human characteristics influenced trading and market movement, and were given the strategies to repeatedly capitalize on them.
Why Were Some Turtles Less Successful?
The answer lies in the fact that conceptually, trading is easy to understand, but putting what you have learned into action is where the challenge lies. This is where the different members of the Turtles came unstuck producing varying results. Despite all the Turtles being given the same training, the aforementioned human traits such as fear played a part when a trade had to be put on. What separated Curtis Faith was his ability to keep it simple and follow the rules.

I read the book and still have by Curtis Faith.The main reason most Turtles failed because they didn't follow rules and instructions and these were not stupid people they were teachers,engineers,computer programmers etc in short smart however it takes more then being smart you must comply.
Results here speak volumes

I had one guy here Chiko all he did was scalping using my system.I tried to tell him this is not suitable for scalping and the guy kept scalping and guess what he stopped posting long ego.His lost an opertunity to learn to trade properly and gain mega pips instead he did what he wanted disregarding rules and he is gone.
The guys who stuck around and apply the rules win pips day in day out.That's just the truth