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Pivot Trading

  • #6,441
  • Feb 1, 2017 4:58am Feb 1, 2017 4:58am
Quoting fxanalysis
{quote} Here is latest version of Davits pivots with automatic timezone adjustment. http://www.forexfactory.com/showthre...83#post9494183
Thank you for that. Please give the settings - do I keep the date of the "choose start of H1 candle" as it is?
  • #6,442
  • Feb 1, 2017 5:03am Feb 1, 2017 5:03am
Quoting sagi
{quote}Thank you for that. Please give the settings - do I keep the date of the "choose start of H1 candle" as it is?
Not trying to be a d*ck, but you should go to that page and read the instruction.
It's all there.
Wide open and very clear.

Forgive me if I sound rude, it's not my intention.
Baby needs love, milk, and money.
  • #6,443
  • Feb 1, 2017 5:04am Feb 1, 2017 5:04am
Quoting Davit
people ask me lot of questions about lot sizes. Let me give you an example what I do.what is important is how much free margin you have and how much exposure you have from ongoing trades. example you have 10k account and you have 5% DD which consumed 2k margin so you really have 7.5k free margin to place trades.In this scenario you should not exceed total positions more then 5dollar a pip. If you break up 5dollar a pip to .50 lots you got 10 .5 positions to work with and that's great risk reward ratio. I hope this helps.Above assumes you have lowest...
Isn't one 0.50 lot $5 per pip? So if you have 10 x0.5 lots, you are doing $50 per pip, and after -200 pips you lose your account of $10,000.
  • #6,444
  • Feb 1, 2017 5:09am Feb 1, 2017 5:09am
Quoting sagi
{quote} Isn't one 0.50 lot $5 per pip? So if you have 10 x0.5 lots, you are doing $50 per pip, and after -200 pips you lose your account of $10,000.
I know one thing, that I know nothing - Socrates
  • #6,445
  • Feb 1, 2017 5:10am Feb 1, 2017 5:10am
Quoting bpran
{quote} Not trying to be a d*ck, but you should go to that page and read the instruction. It's all there. Wide open and very clear. Forgive me if I sound rude, it's not my intention.
'Choose H1 start candle': 2016 06 19 05:00
'Choose H1 finish candle': 2016 06 24 05:00
(5.00 a.m. may not work on your chart so try different hours till pivots line up).

do you know how to tell if pivots line up?
  • #6,446
  • Feb 1, 2017 5:14am Feb 1, 2017 5:14am
Davit,
In you experience, when a pair reached the weekly pivot, how long does it tend to hang around there? for eg. G/J according to my chart just touched the weekly pivot, and I have a bearish harmonic pattern on H1.
  • #6,447
  • Feb 1, 2017 5:30am Feb 1, 2017 5:30am
Quoting sagi
{quote} 'Choose H1 start candle': 2016 06 19 05:00 'Choose H1 finish candle': 2016 06 24 05:00 (5.00 a.m. may not work on your chart so try different hours till pivots line up). do you know how to tell if pivots line up?
Set settings like this , only thing you need to change is brokers candle to false and indicator will automatically detect difference between you and timezone you want and adjust the pivots.
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Know thyself
  • #6,448
  • Feb 1, 2017 6:24am Feb 1, 2017 6:24am
Quoting sagi
{quote} do you know how to tell if pivots line up?
Quoting Davit
Pivot is based on broker time start and that varies from broker to broker.My broker is NY based hence if you are in that time zone no need to change anything however if you live outside this zone you need to adjust the pivot to match mine.
It's on the 1st page 1st post.
How to tell if pivots line up?
Answer: compare your chart with Davit's chart.
Baby needs love, milk, and money.
  • #6,449
  • Feb 1, 2017 7:16am Feb 1, 2017 7:16am
Quoting sagi
{quote} Isn't one 0.50 lot $5 per pip? So if you have 10 x0.5 lots, you are doing $50 per pip, and after -200 pips you lose your account of $10,000.
I think most people understood that I meant 50CENTS a lot since 10x.50=is 5dollars
for others like Sagi its 0.05 a lot!!
I expect that you will pay attention to trading with same scrutiny
In trading, you have to be defensive and aggressive at the same time
  • #6,450
  • Feb 1, 2017 7:19am Feb 1, 2017 7:19am
Quoting sagi
Davit, In you experience, when a pair reached the weekly pivot, how long does it tend to hang around there? for eg. G/J according to my chart just touched the weekly pivot, and I have a bearish harmonic pattern on H1.
You understand that your question is idiotic without being offensive.Nobody knows how long price does what it does and where it does.
Be careful I am sensing a beginner here....and have reputation of kicking them out of here.
In trading, you have to be defensive and aggressive at the same time
  • #6,451
  • Feb 1, 2017 7:24am Feb 1, 2017 7:24am
Quoting FxProsper
{quote} I had to close out my AN longs +185pips, would love to hold on to them for longer but need the banked pips for lunch money, I literally rely on small consistent withdrawals, fortunately all my margin is free now for fresh rounds of price hunting! {image}
you got to start thinking longer term equity building.You must build that or be on same level wasting precious time. I have not taken money out of my account in 3yrs.I have a goal once I get there then will start withdrawing.
Because you treat it as such minor "bank" then its natural you will be influenced to get out of trades early...
In trading, you have to be defensive and aggressive at the same time
  • #6,452
  • Feb 1, 2017 7:33am Feb 1, 2017 7:33am
Quoting Davit
{quote} You understand that your question is idiotic without being offensive.Nobody knows how long price does what it does and where it does. Be careful I am sensing a beginner here....and have reputation of kicking them out of here.
I am definitely not a beginner. Please have respect for me wanting to learn from your experience.
  • #6,453
  • Feb 1, 2017 7:35am Feb 1, 2017 7:35am
Quoting sagi
{quote} I am definitely not a beginner. Please have respect for me wanting to learn from your experience.
watch Mark Douglas videos your answer is there.

http://www.forexfactory.com/showthre...41#post9338341
respect is earned not demanded
In trading, you have to be defensive and aggressive at the same time
  • #6,454
  • Feb 1, 2017 7:37am Feb 1, 2017 7:37am
AC classic pivot system trade and many many exact same charts.Its easy watch wait and get in.

FEDs day be careful of selling USD. My advise DON'T trade none USD crosses until market establishes direction on USD after the event and only if it fits with the system.
Don't try to guess.
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In trading, you have to be defensive and aggressive at the same time
  • #6,455
  • Feb 1, 2017 7:43am Feb 1, 2017 7:43am
Quoting Davit
{quote} watch Mark Douglas videos your answer is there. http://www.forexfactory.com/showthre...41#post9338341 respect is earned not demanded
saw you once replying to that post. Content is so great that I watched them 2 times and now will be third, its becoming like a routine.
Thanks for replying to that post, else wouldn't have seen them !
Know thyself
  • #6,456
  • Feb 1, 2017 7:50am Feb 1, 2017 7:50am
Quoting fxanalysis
{quote} saw you once replying to that post. Content is so great that I watched them 2 times and now will be third, its becoming like a routine. Thanks for replying to that post, else wouldn't have seen them !
Lot of traders have good understanding of technicals but are missing the heart of trading.Concept of probability.Without this insight you will be like a rat running circles for years...
Its the major piece of the puzzle where it hits you hard and you either get it or don't.If you don't then trading is not for you because trading is about randomness and probabilities and this unknown factors should be embraced not be scared.Takes time to grasp the significance.I think Tamarind77 gets it here.
In trading, you have to be defensive and aggressive at the same time
  • #6,457
  • Feb 1, 2017 8:29am Feb 1, 2017 8:29am
Part 3 is very important when he talks about who can move price. This is why I dismiss all retail volume charts coming from retail brokers because its unreliable.Retail traders don't move price! Have that sink in.
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In trading, you have to be defensive and aggressive at the same time
  • #6,458
  • Feb 1, 2017 8:45am Feb 1, 2017 8:45am
Just placed a trade with AN.
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  • #6,459
  • Feb 1, 2017 9:02am Feb 1, 2017 9:02am
Quoting Davit
{quote} you got to start thinking longer term equity building.You must build that or be on same level wasting precious time. I have not taken money out of my account in 3yrs.I have a goal once I get there then will start withdrawing. Because you treat it as such minor "bank" then its natural you will be influenced to get out of trades early...
Sure, but also take into consideration, this is my sole income, due to health issues I had to quit my job in the construction industry Dec 2015, this is what I rely on. If I need to close out a trade early to pay a bill for example then that's what I'm going to do. (Not too different from you sometimes scalping to pay for swap) Usually we assume(its the brain taking a shortcut) the guy on the other side of the screen is in the same position as we are. - Thanks for the advice though I always appreciate you sharing your knowledge, lots of underrated golden info people take for granted.
  • #6,460
  • Feb 1, 2017 9:19am Feb 1, 2017 9:19am
Been soft today, first day of the month.
EG closed half my ticket +45 pips and waiting for the other to reach S38.
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Thanks to Davit for your precious inverventions here. much appreciated.
"Letting losses run is the most serious mistake made by most investors."W.O
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