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Pivot Trading

  • #4,481
  • Oct 28, 2016 11:25am Oct 28, 2016 11:25am
Unfortunately a very light week of trading for me as work travel has intervened. My focus was on the AUD pairs and gained just over +1000 pips across AU, AC, ACHF and AJ. Proved to be a really good exercise in purely focusing on some of the really good set-ups in the R61-100 region. AU was the exception with a fairly narrow ranging week between R38 and S38. Didn't trade EA or AN, but equally good set-ups on both these pairs - again in and around the 61-100 zones.

ACHF: +260 pips nice short from R61 to just above weekly pivot.
AU: +120 pips not a huge range this week - so short from R38 to pivot
AC: +340 pips from the swing down from R100 to R38
AJ: +375 pips in two batches; firstly the initial swing from R61 to R38 and then the reload from R78 down to R38.
  • #4,482
  • Oct 28, 2016 11:35am Oct 28, 2016 11:35am
Quoting Arjun-LE1
{quote} End of trade as price meet resistance. Only managed to add one position today as my capital are tied to other trades. Remember to risk only 3% of your capital. Regards Arjun {image}
Just mentioned the EA trade set-up in my last post - and Arjun has a perfect example of how to trade this.
Bounce off S61 and caught big green pips on the upswing.
Nice trading.
  • #4,483
  • Oct 28, 2016 12:30pm Oct 28, 2016 12:30pm
Quoting Arjun-LE1
{quote} 14 Hours with price bouncing off R38 and R61. Can go either way. Still waiting for pattern to develop for me to decide this trade to be continue or terminated ........... {image}

wow......... this is a 2 day marathon as price move sideways.

Last of my trade for this week. AUD JPY

PA is showing weakness , that makes me stay on the trade and adding position when price went for final push up.

Good nite everyone and have a great weekends.

Rest well and we meet again next week.

Sincerely,

Arjun
Attached Image (click to enlarge)
Click to Enlarge Name: AUD JPY Short.jpg Size: 63 KB
Let all the living things live blissfully
  • #4,484
  • Edited 3:09pm Oct 28, 2016 1:46pm | Edited 3:09pm
Hi Peeps

Just to drop a few lines on some of the trade i took this week, i was long EAUD and short ACAD;

Lesson learnt;

Patience Patience Patience, wait for the trade it will come to you. Lack of patience hurts and denies you from taking other juicy trades.

I plan to hold these trades across the weeks depending on market developments as the currencies are at critical points on the weekly chart.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 281016.PNG Size: 44 KB


Attached Image (click to enlarge)
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Thank you Davit
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #4,485
  • Oct 28, 2016 3:21pm Oct 28, 2016 3:21pm
Quoting lordgbengs
Hi Peeps Just to drop a few lines on some of the trade i took this week, i was long EAUD and short ACAD; Lesson learnt; Patience Patience Patience, wait for the trade it will come to you. Lack of patience hurts and denies you from taking other juicy trades. I plan to hold these trades across the weeks depending on market developments as the currencies are at critical points on the weekly chart. {image} {image} Thank you Davit
Very nice the trade on EA, but I think you entered too late on AC. You should let it go and wait for next set-up...
buying tops / selling bottoms
  • #4,486
  • Oct 28, 2016 3:56pm Oct 28, 2016 3:56pm
Trades for today closed UJ +200 pips Still open FJ 7 positions - 200 will keep positions open
and see what next week brings. Have a great weekend and thank you all for your inputs. Will study Arjun method on using monthly pivots to identify possible trades have entry some trades too soon and not maximising profits.
  • #4,487
  • Edited 4:24pm Oct 28, 2016 4:09pm | Edited 4:24pm
Quoting Ibar51
Trades for today closed UJ +200 pips Still open FJ 7 positions - 200 will keep positions open and see what next week brings. Have a great weekend and thank you all for your inputs. Will study Arjun method on using monthly pivots to identify possible trades have entry some trades too soon and not maximising profits.
Great trading guys.Really proud of you.

Just an observation. I know Arjun has his unique way of looking at set ups nothing wrong there but I want everyone to understand that focus is on weekly pivots.
Why is this important? Well just click on red news events in one month and you have possible serious volatility going in directions contrary to previous month.What I am saying is in Forex lot happens in 1 month.You can have AU example start strong in beginning of the month then after series of red data tank hundreds of pips by the end of month despite the fact that previous month was bullish.You guys follow me? Its not about what has transpired but what is likely to transpire in the future.Stay focused on my method trust me you will rip pips.We are not investers here but traders.We go where market goes and that requires flexibility to mold to continuous changing environment that forex is.
In trading, you have to be defensive and aggressive at the same time
  • #4,488
  • Oct 28, 2016 4:26pm Oct 28, 2016 4:26pm
Quoting Davit
{quote} Great trading guys.Really proud of you. Just an observation. I know Arjun has his way of looking at set ups nothing wrong there but I want everyone to understand that focus is on weekly pivots. Why is this important? Well just click on red news events in one month you have a serious volatility going in direction contrary to previous month.What I am saying is in Forex lot happens in 1 month.You can have AU example start strong in beginning of the month then after series of red data tank hundreds of pips by the end of month despite the fact...
\
Hi Davit
Good to see you here how is the job going have missed you inputs helps keep me awake and alert here in NZ not the best country to be trading from will get worse now that daylight saving is coming in NY open 2 am. My weakness in trading is entering too early and I noticed in some of the trades that the monthly pivot was less than 38 and the weekly was approaching the 78 level I entered on the 78 to see the trade go to100 on daily and 61 on the monthly before reversing was going to see if this was consistent with all pairs or just coincident.
  • #4,489
  • Oct 28, 2016 4:26pm Oct 28, 2016 4:26pm
Quoting Davit
{quote} Voty Outstanding Job real happy Just one minor thing.Can you add price on pivots.Prefer how original shows on right side if not on the pivot label is fine as well.Its not deal breaker but that would be a home-run! Have some beer on me cheers and thank you. When you are done NAME Pivot _Voty none of that old long name.You deserve a recognition.
You are right, was really quite some work. From 120 lines we're at 700 now. Lot of tweaks and bug fixes included.
Updated as Pivot_Voty, but both sources inside:
Still credit to BunnyRaider and his Auto-Pivot Plotter + Griffinsoul for look and feel of Davit's pivot both mentioned in the indicator.
Thank you guys!

Added some instructions as there are many parameters for customization.

Edit: hmm, seems I'm doing in on purpose, forgot the indicator again...
Attached Image (click to enlarge)
Click to Enlarge Name: Pivot_Voty_params.png Size: 95 KB
Attached File(s)
File Type: mq4 Pivot_Voty.mq4   35 KB | 883 downloads
buying tops / selling bottoms
  • #4,490
  • Oct 28, 2016 4:34pm Oct 28, 2016 4:34pm
Quoting voty
{quote} You are right, was really quite some work. From 120 lines we're at 700 now. Lot of tweaks and bug fixes included. Updated as Pivot_Voty, but both sources inside: Still credit to BunnyRaider and his Auto-Pivot Plotter + Griffinsoul for look and feel of Davit's pivot both mentioned in the indicator. Thank you guys! Added some instructions as there are many parameters for customization. Edit: hmm, seems I'm doing in on purpose, forgot the indicator again... {file} {image}
Voty thanks for your great contribution
+karma for you
Will check it out.
In trading, you have to be defensive and aggressive at the same time
  • #4,491
  • Oct 28, 2016 4:44pm Oct 28, 2016 4:44pm
Quoting Ibar51
{quote} \ Hi Davit Good to see you here how is the job going have missed you inputs helps keep me awake and alert here in NZ not the best country to be trading from will get worse now that daylight saving is coming in NY open 2 am. My weakness in trading is entering too early and I noticed in some of the trades that the monthly pivot was less than 38 and the weekly was approaching the 78 level I entered on the 78 to see the trade go to100 on daily and 61 on the monthly before reversing was going to see if this was consistent with all pairs or just...
Do me favor stop looking at Monthly pivot.Weekly volatility is more then sufficient to rip pips.So many set ups that I can't even keep up.This thread is about weekly pivot.
Got to hummer this point hard.Since I started trading this method I have not once looked at monthly pivot.Its useless to me.
You must restrain yourself and only enter best set ups between 61-100. Simple as that.You will have at least 10 set ups a week which should give you 70% winners
and with multiple entries that could mean 2-10% gain of equity each week.Trust me its easier then you think.What's hard is waiting for set ups.Well lions tigers learn very early age that chasing prey early only depletes their energy without catching anything then they get wise and wait and crawl closer to prey then strike.Nature is universal.We are hunting price.
Sorry forgot about my job inquire.Its a job that I am not passionate about hence does not move me at all.I love trading and that's my goal trading full time for myself.Not there yet equity wise but getting there.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #4,492
  • Oct 28, 2016 4:50pm Oct 28, 2016 4:50pm
Quoting Davit
{quote} Do me favor stop looking at Monthly pivot.Weekly volatility is more then sufficient to rip pips.So many set ups that I can't even keep up.This thread is about weekly pivot. Got to hummer this point hard.Since I started trading this method I have not once looked at monthly pivot.Its useless to me. You must restrain yourself and only enter best set ups between 61-100. Simple as that.You will have at least 10 set ups a week which should give you 70% winners and with multiple entries that could mean 2-10% gain of equity each week.Trust me its...
OK you are right and love the analogy LOL
  • #4,493
  • Oct 28, 2016 5:04pm Oct 28, 2016 5:04pm
Quoting Ibar51
{quote} OK you are right and love the analogy LOL
Lot of people here at FF or in general make trading difficult but I find its not the methodology difficult but psychological issues that goes along with it.
I will give you an example
Lets say you worked real hard to get 2k for your forex account.Obviously because you worked hard earning it you have more emotions attached to losing it.
Well this will become an issue when you must cut a trade at -50 dollars but perhaps that 50 is too big for you and you hesitate and then price drops to -100 and now you really don't want to take the loss and wait even more and price drops 200pips and you are down -500 and at this point you are forced to take the loss.Well in retrospect -50 was lot less painful then -500
Now above scenario had nothing to do with system but your psychological issue about money.This happens to everyone but ideal goal is to treat equity purely as number game and believe that over next 20 trades you will not only recover that 50 loss but add 2k profit.That's how you must think.Got to think probability over series of trades.We don't die or live on 1 trade.I took -1500pips loss on EU and today price went 40 pips higher where I took my loss.Felt nothing.It could of easily fell to 105.I don't know the future just playing with adds and probabilities.
Sorry got side stepped a little but its important that making money in this business requires work on yourself 1st.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #4,494
  • Oct 28, 2016 5:24pm Oct 28, 2016 5:24pm
Quoting Davit
{quote} Lot of people here at FF or in general make trading difficult but I find its not the methodology difficult but psychological issues that goes along with it. I will give you an example Lets say you worked real hard to get 2k for your forex account.Obviously because you worked hard earning it you have more emotions attached to losing it. Well this will become an issue when you must cut a trade at -50 dollars but perhaps that 50 is too big for you and you hesitate and then price drops to -100 and now you really don't want to take the loss and...
Yes I totally agree with you I have seen the difference in myself since reading MD and am half way through The new Psycho Cybernetics. I do not worry about losing trades trade anymore trade without stop loss use 3% of my account as a start to closing trades close trades as my limit is hit one at a time . Am changing my self image, imaging I am a successful trader, meditate on my weakness in trading and in life in general even my golf swing has improved less slicing. I owe this all to you and words cannot express my gratitude, shows even at 65 one can change
  • #4,495
  • Edited 6:22pm Oct 28, 2016 6:01pm | Edited 6:22pm
Quoting Davit
{quote} Lot of people here at FF or in general make trading difficult but I find its not the methodology difficult but psychological issues that goes along with it. I will give you an example Lets say you worked real hard to get 2k for your forex account.Obviously because you worked hard earning it you have more emotions attached to losing it. Well this will become an issue when you must cut a trade at -50 dollars but perhaps that 50 is too big for you and you hesitate and then price drops to -100 and now you really don't want to take the loss and...
Agree !!!
I just cut loss EU today and EA, EC yesterday but I still have following equity curve and happy with this.
Still trading without stop loss for each position but sat x% profit loss using MPTM in case Black Swan.

69.81% winning rate. Only picked above R61 and below S61 and wait.......

Attached Image (click to enlarge)
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  • #4,496
  • Oct 28, 2016 7:42pm Oct 28, 2016 7:42pm
Quoting voty
{quote} You are right, was really quite some work. From 120 lines we're at 700 now. Lot of tweaks and bug fixes included. Updated as Pivot_Voty, but both sources inside: Still credit to BunnyRaider and his Auto-Pivot Plotter + Griffinsoul for look and feel of Davit's pivot both mentioned in the indicator. Thank you guys! Added some instructions as there are many parameters for customization. Edit: hmm, seems I'm doing in on purpose, forgot the indicator again... {file} {image}
Great job thank you
  • #4,497
  • Oct 28, 2016 7:43pm Oct 28, 2016 7:43pm
Quoting voty
{quote} You are right, was really quite some work. From 120 lines we're at 700 now. Lot of tweaks and bug fixes included. Updated as Pivot_Voty, but both sources inside: Still credit to BunnyRaider and his Auto-Pivot Plotter + Griffinsoul for look and feel of Davit's pivot both mentioned in the indicator. Thank you guys! Added some instructions as there are many parameters for customization. Edit: hmm, seems I'm doing in on purpose, forgot the indicator again... {file} {image}
Wow bravo!! Voty
Coolest pivot indicator out there. Email alerts choice for history TF WOW
Fantastic job.
Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: Poster_girl6-CMYK.jpg Size: 440 KB
In trading, you have to be defensive and aggressive at the same time
  • #4,498
  • Oct 28, 2016 7:47pm Oct 28, 2016 7:47pm
Quoting inforserve
{quote} Agree !!! I just cut loss EU today and EA, EC yesterday but I still have following equity curve and happy with this. Still trading without stop loss for each position but sat x% profit loss using MPTM in case Black Swan. 69.81% winning rate. Only picked above R61 and below S61 and wait....... {image}
Great job continue on!
In trading, you have to be defensive and aggressive at the same time
  • #4,499
  • Edited 7:58pm Oct 28, 2016 7:48pm | Edited 7:58pm
Quoting Ibar51
{quote} Yes I totally agree with you I have seen the difference in myself since reading MD and am half way through The new Psycho Cybernetics. I do not worry about losing trades trade anymore trade without stop loss use 3% of my account as a start to closing trades close trades as my limit is hit one at a time . Am changing my self image, imaging I am a successful trader, meditate on my weakness in trading and in life in general even my golf swing has improved less slicing. I owe this all to you and words cannot express my gratitude, shows even...
Wow 65? I thought you were in your 30's.Great attitude you have and carry on my friend!
green pips next week

For keeping your mind young and sharp play chess.
https://www.chess.com/live
free and you play against folks same rating zone.Computer matches all over the world.You can pick fast 5 10 20 min game or slower.I generally play 5min games but 10min is sufficient.
Chess builds new neuron paths critical for keeping the brain sharp and growing.I play chess a lot while waiting for set ups or waiting in general when I have time.
Try it
In trading, you have to be defensive and aggressive at the same time
  • #4,500
  • Oct 28, 2016 11:15pm Oct 28, 2016 11:15pm
Quoting Davit
{quote} Great trading guys.Really proud of you. Just an observation. I know Arjun has his unique way of looking at set ups nothing wrong there but I want everyone to understand that focus is on weekly pivots. Why is this important? Well just click on red news events in one month and you have possible serious volatility going in directions contrary to previous month.What I am saying is in Forex lot happens in 1 month.You can have AU example start strong in beginning of the month then after series of red data tank hundreds of pips by the end of month...
Hi Davit, thank you for the post, the focus on monthly for me was because of the nature of my job and curiosity, I have tried both, trading off the weekly and monthly and so far the weekly has been better over a close to 2 months period. What I discovered on the monthly is that trades take time to develop. My challenge with the weekly is trying to rap my head around the changing fundies week in week out, am better though than last month. Davit, I will like to know what are some other things you look at on the fundies side in having your views on currencies.

Thank you
D labour of a fool wearieth him cos he doesn't know how to enta d city
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