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Pivot Trading

  • #9,161
  • May 12, 2017 8:26am May 12, 2017 8:26am
Quoting Davit
Good morning guys Thank you guys for your support makes me feel I am not wasting my time.{image}
Not at all! Avid reader, have posted now and then but not often, but always keen to read your posts as others.
  • #9,162
  • May 12, 2017 9:06am May 12, 2017 9:06am
I've backed off on posting in the thread because I've been struggling since I went live even with micro lots. It seems nearly every trade I take goes very far against me before it turns. And when it does, it doesn't come back far enough to get me out of draw down.

I would suspect a couple of issues.

Lacking knowledge of price action is putting me in early. Working on this.

Fear of the trade doesn't allow me to keep adding positions as it works against me waiting for the turn. My example of this would be Davit's recent EurCad trade. It went against him for a while, but he kept adding positions. When it turned to a swing down, massive pips were accumulated. I don't believe every entry turned positive, but overall it was.

Everyone makes it look so much easier on the thread. Its kinda difficult to be struggling with it.
  • #9,163
  • May 12, 2017 9:16am May 12, 2017 9:16am
Quoting csternfx
I've backed off on posting in the thread because I've been struggling since I went live even with micro lots. It seems nearly every trade I take goes very far against me before it turns. And when it does, it doesn't come back far enough to get me out of draw down. I would suspect a couple of issues. Lacking knowledge of price action is putting me in early. Working on this. Fear of the trade doesn't allow me to keep adding positions as it works against me waiting for the turn. My example of this would be Davit's recent EurCad trade. It went against...
This system is about an edge and higher probabilities. Try buying at S100 and shorting at R100 and see how that works for you. Two examplse this week would be the dollar index and Usdjpy. Both would have made good pips shorting at the R100. On the other hand Eurchf has passed R161 without weakness and barely any pullback, although this could be attributed to the SNB. Get a good understanding of fundamentals. Watch PA of pairs and use the TDI to confirm moves. And trade small till you get an understanding and grip of the system. As Davit says you need to use this system for 3 months. Hope this helps
  • #9,164
  • May 12, 2017 9:26am May 12, 2017 9:26am
Quoting nightpipper7
{quote} This system is about an edge and higher probabilities. Try buying at S100 and shorting at R100 and see how that works for you. Two examplse this week would be the dollar index and Usdjpy. Both would have made good pips shorting at the R100. On the other hand Eurchf has passed R161 without weakness and barely any pullback, although this could be attributed to the SNB. Get a good understanding of fundamentals. Watch PA of pairs and use the TDI to confirm moves. And trade small till you get an understanding and grip of the system. As Davit...
I agree with looking at 100 levels. Usdjpy hit r100 last week too. Not much of a drop off of it. So lets say I shorted last week, but it didn't pull back enough. Now I'm stuck in drawdown. I need to able to add at r100 this week as well to be able to get out.

I can find several examples of that where it trends for a few weeks without significant pullbacks. I think thats where a weakness lies is not being able to continue building a position. I think swinging for the fence looking for a big move is an issue to.

The pivots clearly have significance so I'm going to continue the effort here. I'm spending time in Mr. Pips thread also to study PA and harmonics. I know all of this ties together. And if Davit learned there, must be something there to learn.
  • #9,165
  • May 12, 2017 9:48am May 12, 2017 9:48am
Quoting csternfx
I've backed off on posting in the thread because I've been struggling since I went live even with micro lots. It seems nearly every trade I take goes very far against me before it turns. And when it does, it doesn't come back far enough to get me out of draw down. I would suspect a couple of issues. Lacking knowledge of price action is putting me in early. Working on this. Fear of the trade doesn't allow me to keep adding positions as it works against me waiting for the turn. My example of this would be Davit's recent EurCad trade. It went against...
I think you got several issues
1. Failing to understand what batch trading is.When you take a trade from point A to point B that could be as large as 100pips and should be treated as 1 trade. So tail end DD does not mean anything.You are treating it as 1 trade! So your positions should be small enough to compensate DD and allow time to work in your favor.
2.Trading pairs that you don't understand like UJ one of the most difficult pairs to trade.I seldom trade it
3.Having batch SL as cut out point. Example EC short max DD $250 you get there you get out.If you stay in it and it becomes 1500 loss then you got fundemetal issue of letting losses run wild.
The reason I prefer working with minimum 2yr traders because I am assuming you have some things under control like patience,suppression of impulse trading idea of stop loss idea of position size.I can't teach that if you don't have already worked out.
Take a break from this system and I mean it seriously.
In trading, you have to be defensive and aggressive at the same time
  • #9,166
  • May 12, 2017 9:54am May 12, 2017 9:54am
As said by many others, thank you Davit for your thread!!!

Looking like some nice support on Silver (don't know if many people trade precious metals).
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  • #9,167
  • May 12, 2017 9:58am May 12, 2017 9:58am
Quoting csternfx
I've been reading and practicing this method for several weeks, but finally joined to post some results. I've read pages 1 to 200 and about 300 to current. I think it finally "clicked" for me. I have been lurking around fx for a few years now with no real success. Mostly some mild up and down between demo and real mini accounts. Never blew an account entirely. I was struggling with this method mostly due to still setting stop losses and fear of multiple entries. Last week was great and this week is going strong. Results are from February...
This was 4 months ego what steps have you taken to address same issues 4 months later like now?Do you see an issue? You were aware of it 4 months ego.
Seriously reconsider everything and take a break.I mean take a break from Trading to clear your head.

I am removing you from here.I don't think you were ready 4 months ego and not ready now either.I can't have people trade my system recklessly.
Green journey.
In trading, you have to be defensive and aggressive at the same time
  • #9,168
  • May 12, 2017 10:12am May 12, 2017 10:12am
The main reason I wanted you guys to watch Mark Douglas is to understand few key principles



The 5 Fundamental Truths of Trading:
1. Anything can happen. ( including trade going against you)

2. You don’t need to know what is going to happen next to make money. (means putting the Edge in play and seeing the outcome)

3. There is a random distribution between wins and losses for any given set of
variables that define an edge.(self explanatory)

4. An edge is nothing more than an indication of a higher probability of one thing
happening over another. (Pivots 61-100)

5. Every moment in the market is unique.(obvious)
In trading, you have to be defensive and aggressive at the same time
  • #9,169
  • May 12, 2017 10:17am May 12, 2017 10:17am
Here is my AU trades in minor DD and everything is NORMAL
Its matter of giving a time. TIME is a factor in trading.Am I in panic? Worry? Not at all ! Why? My positions are fraction of my account size!!!
Do I have an EDGE? Yes system says random distributions of winners and losses hence I don't know if this trade is a winner or loser however must give it a time since its already making its way up.Was it hard to place this trade? Nope obvious to me.Was the EDGE clearly defined? How many trades can you execute in a month like this? 10? How many will be winners? Based on my experience 8
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In trading, you have to be defensive and aggressive at the same time
  • #9,170
  • May 12, 2017 10:26am May 12, 2017 10:26am
I am getting little aggressive and I apologize and I am going to post my AU trades charts until I take profit so you can see entire process
-5pips now less then 5min
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In trading, you have to be defensive and aggressive at the same time
  • #9,171
  • May 12, 2017 10:27am May 12, 2017 10:27am
Quoting Davit
{quote} I think you got several issues 1. Failing to understand what batch trading is.When you take a trade from point A to point B that could be as large as 100pips and should be treated as 1 trade. So tail end DD does not mean anything.You are treating it as 1 trade! So your positions should be small enough to compensate DD and allow time to work in your favor. 2.Trading pairs that you don't understand like UJ one of the most difficult pairs to trade.I seldom trade it 3.Having batch SL as cut out point. Example EC short max DD $250 you get there...
additional, IHMO :-
IF
{
//1. Try to focus 1@2 pair.
//2. One System/Trading style and choose which session{Asian,EU,US} you prefer.
Then
{
less [ stress, charts,pairs, analysis, distraction, mistake]
}

result;

{
more [ relax,patience, focus, better results]
}

EOD // Happy
  • #9,172
  • May 12, 2017 10:30am May 12, 2017 10:30am
Quoting Davit
The main reason I wanted you guys to watch Mark Douglas is to understand few key principles The 5 Fundamental Truths of Trading: 1. Anything can happen. ( including trade going against you) 2. You dont need to know what is going to happen next to make money. (means putting the Edge in play and seeing the outcome) 3. There is a random distribution between wins and losses for any given set of variables that define an edge.(self explanatory) 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. (Pivots...
their biggest problem is most likely not enough capital. trading microlots and still with fear of adding. so most likely small account, went in most likely also too early
  • #9,173
  • May 12, 2017 10:31am May 12, 2017 10:31am
Quoting Davit
I am getting little aggressive and I apologize and I am going to post my AU trades charts until I take profit so you can see entire process -5pips now less then 5min {image}
don't forget to add more eurocad, it's at nice spot!
  • #9,174
  • May 12, 2017 10:34am May 12, 2017 10:34am
Quoting mirex
{quote} their biggest problem is most likely not enough capital. trading microlots and still with fear of adding. so most likely small account, went in most likely also too early
That's poor excuse.You can always reduce positions to match account size.

AU +34pips 10min Time waiting.Anyway wanted to demonstrate how normal DD is.
Keep telling yourself that drawdown is normal until it reaches your cut out point and everyone should have one.Otherwise market fluctuates and you place 20-30pip SL you will go broke taking lots of losses even in a trade that becomes profitable.
Voty just posted recently that 80% of his losses were winners if he gave it a time.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #9,175
  • May 12, 2017 10:43am May 12, 2017 10:43am
Quoting Davit
{quote} That's poor excuse.You can always reduce positions to match account size. AU +34pips 10min Time waiting.Anyway wanted to demonstrate how normal DD is. Keep telling yourself that drawdown is normal until it reaches your cut out point and everyone should have one.Otherwise market fluctuates and you place 20-30pip SL you will go broke taking lots of losses even in a trade that becomes profitable. Voty just posted recently that 80% of his losses were winners if he gave it a time. {image}
yup. time solve all problem.
  • #9,176
  • May 12, 2017 10:48am May 12, 2017 10:48am
You guys should seriously watch Mark Douglas videos again and read Trading in the Zone.
He is my teacher.I learned to feel comfortable in the markets because of him.Concept of probability never hit me hard until I fully understood what MD was saying.Sample size another big thing.Most idiots want immediate success but market gives and takes hence you need enough sample size to see your edge.This is why I insist minimum 3 months trading pivots before throwing the towel.


I act on my edges without reservation or hesitation.
Mark Douglas
In trading, you have to be defensive and aggressive at the same time
  • #9,177
  • May 12, 2017 10:53am May 12, 2017 10:53am
Another DD trade AC but love this trade has nice potential for harmonic correction
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Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #9,178
  • May 12, 2017 11:05am May 12, 2017 11:05am
Quoting Davit
Another DD trade AC but love this trade has nice potential for harmonic correction {image} {image}
check out EU.
  • #9,179
  • May 12, 2017 11:11am May 12, 2017 11:11am
same trade 5 min later +50pips
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #9,180
  • May 12, 2017 11:12am May 12, 2017 11:12am
Quoting mirex
{quote} check out EU.
thanks for heads up but I am all good
In trading, you have to be defensive and aggressive at the same time
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