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Pivot Trading

  • #4,321
  • Oct 23, 2016 4:01pm Oct 23, 2016 4:01pm
Quoting Patrickology
Hello all, in post #1 by Davit he recommends a couple of titles which everybody should read. One of the titles is The New Psycho-Cybernetics. I happen to have the audiobook and ebook which you can download through the link at the end of this post. {quote} Download link
thx buddy
  • #4,322
  • Oct 24, 2016 3:02am Oct 24, 2016 3:02am
im already out from AU (200pips) and NZ (180pips) last Friday..


this thread become so quiet.. Euro effect?
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  • #4,323
  • Oct 24, 2016 9:24am Oct 24, 2016 9:24am
Quoting dnl
im already out from AU (200pips) and NZ (180pips) last Friday.. this thread become so quiet.. Euro effect? {image} {image}
Hi Dnl, please confirm if your pivot is Davit's having all the levels? If yes, please share I like the idea that you are able to back test.

Thank you
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,324
  • Oct 24, 2016 9:45am Oct 24, 2016 9:45am
Hi Peeps, I have been busy and studying in details the Davit's system that is why I have been quiet. some of the things I have discovered;

Thanks Davit for the heart to share.

- In weeks where you have impact news, price sometimes extend to R/S 78 and R/S 100 or over

- Weekly open tend to act as good R/S just like Daily open

- If the weekly open is close to Pivot, price sometimes retrace to pivot before setting a direction

- When price get to these reversal levels, try to research on news to support a reversal or extension

- Understand how price moves Davit talked about this i.e an impulse move will usually follow a corrective wave on any time frame

- Until you are able to adapt Davit's system to your persona you might struggle in the long run, like Davit said focus on this one system for 3 months and see yourself improve as a trader

Look at it as a probability and it will be stress free.

@Davit, please I want to humbly request for two things to be included on the Davit's pivot;
1. An option to choose Yearly time frame as we have D W and MN
2. For the pivot to draw based on the time frame you choose showing history, just like the pivots on dnl post above that you could see how price reacted during historical periods, like a moving pivot.

I will be grateful if you can oblige me.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,325
  • Oct 24, 2016 9:47am Oct 24, 2016 9:47am
Hey Guys! I've ran into a small problem in my trading and figured i might aswell drop off a question here, some may have the same problem, some may have solved it and can share their wisdom!

So during all my trading my profit taking have always been abit off.. i usually set a TP at x amount according to my R/R ratio which i determine by where price have been and so.

Sometimes it hits my mark and somtimes it does not - but the problem i'm having is when it comes so close "like 5-10-15 pips away from my take TP" i do not close the trade because if i analysed it to go a certain distant, so i'm expecting it to go there and i eventually miss out on the move, it reverses and my win turns into a loss instead "or BE if i've moved my stop".

This is where i fail as a trader and if anyone got anything that could help me out i would appreciate it!

And if Davit thinks this is inappropriate to this thread i will ofc remove the post. Just figured i got some really good traders here maybe someone got some insight on how to think about this.
  • #4,326
  • Oct 24, 2016 9:50am Oct 24, 2016 9:50am
Hi pivoters!
If somebody here trade also DAX , in educational matters too, look the price reaction near R61. The great,etalon ,classic Davit's short set up was and is still in tact.

Rgs.,
Success is nothing more than a few simple disciplines, practiced every day.
  • #4,327
  • Edited 10:24am Oct 24, 2016 10:06am | Edited 10:24am
Quoting lordgbengs
Hi Peeps, I have been busy and studying in details the Davit's system that is why I have been quiet. some of the things I have discovered; Thanks Davit for the heart to share. - In weeks where you have impact news, price sometimes extend to R/S 78 and R/S 100 or over - Weekly open tend to act as good R/S just like Daily open - If the weekly open is close to Pivot, price sometimes retrace to pivot before setting a direction - When price get to these reversal levels, try to research on news to support a reversal or extension - Understand how price...
Hi guys I am in training for my new job so my time is limited.I'll try answering posts in timely matter but may not be able to do as you like.
regards


To be honest you knowing what happened year ego is basically irrelevant.Every fundemetal factor is already different now and going back a year to see a pivot will not help your present trading.I am not a programmer but basically pivots are simple take H L divide in 2 you got the pivot then you project fibs from pivots from both direction.
You can actually do that manually.
regards
In trading, you have to be defensive and aggressive at the same time
  • #4,328
  • Oct 24, 2016 10:10am Oct 24, 2016 10:10am
Quoting lordgbengs
{quote} Hi Dnl, please confirm if your pivot is Davit's having all the levels? If yes, please share I like the idea that you are able to back test. Thank you
yes..
you can use the one on paperclip by mch (no S/R78 by default)..

i have modded mine to show all level..maybe ill post it here or somewhere after im done messing with the code..
right now its buggy..
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  • #4,329
  • Oct 24, 2016 10:10am Oct 24, 2016 10:10am
Quoting Timnyman94
Hey Guys! I've ran into a small problem in my trading and figured i might aswell drop off a question here, some may have the same problem, some may have solved it and can share their wisdom! So during all my trading my profit taking have always been abit off.. i usually set a TP at x amount according to my R/R ratio which i determine by where price have been and so. Sometimes it hits my mark and somtimes it does not - but the problem i'm having is when it comes so close "like 5-10-15 pips away from my take TP" i do not close the trade...
Next time you are so close to your TP then take the profit!! There is no reason that you not collecting 95% of your TP then settle for 1% TP gain. Markets are always in flux what you think should happen often does not materialize as you wish. This is the main reason that you must watch Price action.
I have taken lots of profits before my set TP.I rather get 65-95% of my TP goal then nothing.Remember its about math by end of the month all those pips add up
have fun
In trading, you have to be defensive and aggressive at the same time
  • #4,330
  • Oct 24, 2016 10:14am Oct 24, 2016 10:14am
Quoting Timnyman94
Hey Guys! I've ran into a small problem in my trading and figured i might aswell drop off a question here, some may have the same problem, some may have solved it and can share their wisdom! So during all my trading my profit taking have always been abit off.. i usually set a TP at x amount according to my R/R ratio which i determine by where price have been and so. Sometimes it hits my mark and somtimes it does not - but the problem i'm having is when it comes so close "like 5-10-15 pips away from my take TP" i do not close the trade...
Hello Tinyman,

If you are able to monitor the trade, then move your SL when in profit. TP's are not guaranteed, even if you are correct the market may not agree.

My trades today,

Cheers
MR
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Silence your Ego & Your Power will Rise
  • #4,331
  • Oct 24, 2016 10:14am Oct 24, 2016 10:14am
Quoting dnl
{quote} yes.. you can use the one on paperclip by mch (no S/R78 by default).. i have modded mine to show all level..maybe ill post it here or somewhere after im done messing with the code.. right now its buggy.. {image} {image} {image}
still waiting for Mike to upload.....
Quoting Davit
Hi Mike I have a favor to ask you.I like your pivot indicator and would it be possible you upload it with your template? The one on clipboard does not have all my levels nor prices. Thanks buddy
Quoting mch1970
{quote} Sure no problem. Will post it up and provide some comments around how I set it up. Very commendable money management on your recent trades. Have to say if you end a month positive after Black Swan event, you have to be doing something right.
In trading, you have to be defensive and aggressive at the same time
  • #4,332
  • Oct 24, 2016 10:19am Oct 24, 2016 10:19am
Quoting mraam
{quote} Hello Tinyman, If you are able to monitor the trade, then move your SL when in profit. TP's are not guaranteed, even if you are correct the market may not agree. My trades today, Cheers MR {image}
nice trade.I am selling NZD as well
In trading, you have to be defensive and aggressive at the same time
  • #4,333
  • Oct 24, 2016 10:20am Oct 24, 2016 10:20am
Quoting Patrickology
Hello all, in post #1 by Davit he recommends a couple of titles which everybody should read. One of the titles is The New Psycho-Cybernetics. I happen to have the audiobook and ebook which you can download through the link at the end of this post. {quote} Download link
thanks buddy
In trading, you have to be defensive and aggressive at the same time
  • #4,334
  • Oct 24, 2016 10:21am Oct 24, 2016 10:21am
Quoting Machinator
Hi pivoters! If somebody here trade also DAX , in educational matters too, look the price reaction near R61. The great,etalon ,classic Davit's short set up was and is still in tact. Rgs.,
Barev Davit jan
post the result
In trading, you have to be defensive and aggressive at the same time
  • #4,335
  • Oct 24, 2016 10:22am Oct 24, 2016 10:22am
This weeks new pivot
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In trading, you have to be defensive and aggressive at the same time
  • #4,336
  • Oct 24, 2016 10:25am Oct 24, 2016 10:25am
Quoting Davit
{quote} Hi guys I am in training for my new job so my time is limited.I'll try answering posts in timely matter but may not be able to do as you like. regards Hi Shaun To be honest you knowing what happened year ego is basically irrelevant.Every fundemetal factor is already different now and going back a year to see a pivot will not help your present trading.I am not a programmer but basically pivots are simple take H L divide in 2 you got the pivot then you project fibs from pivots from both direction. You can actually do that manually. regards...
Hi Davit, please enjoy your training.

I enjoy the historical analysis maybe because of my Engineering background and sometimes helps in building some level of confidence (anchoring bias). I actually have the data in excel just felt this approach might be better.

Thanks for your comments as always they are noted, much appreciated.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,337
  • Oct 24, 2016 10:29am Oct 24, 2016 10:29am
Quoting dnl
{quote} yes.. you can use the one on paperclip by mch (no S/R78 by default).. i have modded mine to show all level..maybe ill post it here or somewhere after im done messing with the code.. right now its buggy.. {image} {image} {image}
Thanks Dnl for the response, please post it when you are done with the codes. Looking forward to it.

Cheers.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,338
  • Oct 24, 2016 10:30am Oct 24, 2016 10:30am
Poloz is due to speak today 3.30 Its possible this schmuck may revise his serious droopy outlook and be positive a little.
What this idiot does not realize that by weakening the CAD so much you are not helping people.Try paying for produce,basic necessities when you currency is worth 60% of what it should be.So you create artificial inflation on expense of Canadians who have to pay more for everything.What a fking idiot!
In trading, you have to be defensive and aggressive at the same time
  • #4,339
  • Oct 24, 2016 10:46am Oct 24, 2016 10:46am
Thanks for the responses so far on my question guys and yeah as you said Davit - just take the profit haha.. need to get over the fear "as Mark Douglas says" over leaving money on the table - because that's exactly what you'll do.. and what i'm doing way to often haha! Thanks again
  • #4,340
  • Oct 24, 2016 12:00pm Oct 24, 2016 12:00pm
Great thread Davit - thanks.
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