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Attachments: Pivot Trading
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Pivot Trading

was in Aj long close for +30,+25 and GJ with +25 would have let this trade run longer anyways still learning i am in AU long,and GU sell see chart for any advice
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Quoting Nostromo
{quote} I am still learning the basics but things like this make me realize how big the learning curve in forex really is, I had no idea I had to re-enter the weekly start/end dates on my indi's each week - isn't that something that is normally automated? Please realize I am not criticizing here, am just trying to understand why its not hard coded for 'previous week', with a GMT offset for broker hours as a one-off initial setup or something like that? Can you also please explain how you know that 00:00 hours is equivalent to GMT +3? Without any...
My setting is just for simply reason: create the pivot level is almost similar with Davit's chart.
I don't really care about the equivalency of GMT offset.
The most important is your setting shows a good S/R level at your chart.
I try to do the simple things first and then more complicated ones.
Quoting fibosniper
{quote} My setting is just for simply reason: create the pivot level is almost similar with Davit's chart. I don't really care about the equivalency of GMT offset. The most important is your setting shows a good S/R level at your chart.
Hey Fibo, thanks for clarifying that.
hello davit were are you
Quoting toksy
was in Aj long close for +30,+25 and GJ with +25 would have let this trade run longer anyways still learning i am in AU long,and GU sell see chart for any advice {image} {image}
Hi toksy
I am sorry that I can't really see clearly your charts.I prefer you use my template when posting trade related questions and you can use your personal charts on your own.
Thank you
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} Hi toksy I am sorry that I can't really see clearly your charts.I prefer you use my template when posting trade related questions and you can use your personal charts on your own. Thank you
ok i will remove the apb candles so that it can be clearer.i appreciate
  • Post #127
  • Quote
  • Edited 10:54am May 12, 2016 10:43am | Edited 10:54am
closed 6 shorts on EC
about 6% equity growth on this batch
Took few small losses on AN (dip in the end)
Have still multiple shorts on UC running
Overall up 11% for the month. Anything above 10 is a gravy for me.So I am relaxed just taking A set ups
(note graph is what I closed today)
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In trading, you have to be defensive and aggressive at the same time
EC
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In trading, you have to be defensive and aggressive at the same time
thanks for the Pivots Davit, it shows key turning points on charts which make determining entries and exits easier, having to update the time in the indicator every week is a small price to ask considering the amount of winners you get
Quoting siboneloz
thanks for the Pivots Davit, it shows key turning points on charts which make determining entries and exits easier, having to update the time in the indicator every week is a small price to ask considering the amount of winners you get
You welcome Sib
I am not updating anything.It does on its on.
New pivots form every week.Notice NU turn exact on 61R and bounce from 61S
Too many to list.You only need 10 good trades to hit % monthly goal.
Fundamentally I am becoming more bearish on USD.Unemployment claims raising and job creation declining and there will be no June hike so anticipate further USD decline.
Holding my main shorts trades on UC to 125 anticipate hitting by the end of May or in June.Either way I think we will get there even lower.
I suggest instead of trading 10pairs focus on few and know them well.

regards
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In trading, you have to be defensive and aggressive at the same time
Guys who know me know that I love range trading.
EG is in a range.
Basically above 7920 shorting has high probability.
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In trading, you have to be defensive and aggressive at the same time
Hey Davit, my first Pivot trade ... only on Demo as I am still very new to trading and TDI, but it looked like a nice bounce off R78 yesterday.
Any comments welcome.

Oh - and I also have to update the week start end date on my pivot indicator also like siboneloz - I wonder why you don't need to, is it because your GMT offset is the same a the default setting?

cheers.
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Quoting Nostromo
Hey Davit, my first Pivot trade ... only on Demo as I am still very new to trading and TDI, but it looked like a nice bounce off R78 yesterday. Any comments welcome. Oh - and I also have to update the week start end date on my pivot indicator also like siboneloz - I wonder why you don't need to, is it because your GMT offset is the same a the default setting? cheers. {image}
Hi Nostro
Its good that you are on demo.I usually don't trade UJ because of BOJ could and have intervened in the past and price can spike or dive very quickly.In my real account I don't see value trading the Yen.
Fundamentally Japanese are in panic in terms of Yen getting stronger and won't surprise me abrupt unannounced move to weaken it.
I have no issues on pivots.I don't change anything.Don't know reasons but fact is every week there are new ones.
Has been working fine $$ why change it.

Regards
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} Hi Nostro Its good that you are on demo.I usually don't trade UJ because of BOJ could and have intervened in the past and price can spike or dive very quickly.In my real account I don't see value trading the Yen. Fundamentally Japanese are in panic in terms of Yen getting stronger and won't surprise me abrupt unannounced move to weaken it. I have no issues on pivots.I don't change anything.Don't know reasons but fact is every week there are new ones. Has been working fine $$ why change it. Regards
Davit, thanks for your feedback, what in your opinion are good stable pairs to trade with plenty of good sized swings? I read about the fiasco a while ago with Swiss franc, and I can definitely see your point about the Japanese Govt interference in their currency ... (mind you - don't all Govts do that? )

I only decided to start with EU, GU, AU, EJ, UJ ,AJ, UCad as that was a recommendation for beginners on the TMS thread. I was going to concentrate on EUR/USD but I wanted to have a couple more alternatives for when that pair was flat, so suggestions welcome!

cheers
Quoting Nostromo
{quote} Davit, thanks for your feedback, what in your opinion are good stable pairs to trade with plenty of good sized swings? I read about the fiasco a while ago with Swiss franc, and I can definitely see your point about the Japanese Govt interference in their currency ... (mind you - don't all Govts do that? ) I only decided to start with EU, GU, AU, EJ, UJ ,AJ, UCad as that was a recommendation for beginners on the TMS thread. I was going to concentrate on EUR/USD but I wanted to have a couple more alternatives for when that pair was flat,...
80% of my trades are on UC and some on AC and EC rest on EU AU NU GU EG
I like the Cad because I can keep up with oil and Cad fundamentals.To me you only need 2-3pairs to reach your monthly goal.
When you focus on few pairs you get to know it well and build confidence trading them.
Its a misconception that one needs to be all over the place to make money.I can build 10 trades on UC equaling trading 10 different pairs but my results would be better because I only need one swing to collect.

General guidelines to me is this
If you have less then 5years of experience then don't trade hyper crosses like GN GA EN GJ
Anything over 130 daily range is red herring to me.Its not about profits its about controlling risk profits take care themselves.
Mistake lot of rookies make is getting carried over by greed and trade crosses and pay dearly when wrong.
Slow study the way to build equity.

Regards
In trading, you have to be defensive and aggressive at the same time
EU is still ranging
38S again
Currently shorting UC in 9 positions in various levels
Target 125
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In trading, you have to be defensive and aggressive at the same time
Anticipating a reaction at 61S on AN
This pair is on my radar to buy and hold
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In trading, you have to be defensive and aggressive at the same time
I like your style Davit, AudCad bouncing up through 78s. Similar to AudNzd from 38s.

Nice system
Quoting Davit
Anticipating a reaction at 61S on AN This pair is on my radar to buy and hold {image}
Hi Davit and everyone here,

Have been going through this thread quietly and really do like it especially for its FAST nature 15min-30mins TF and also for the nature of the pivots used.
Already downloaded the harmonics trading manual for further understanding of harmonics and the 0.786 etc Fib numbers.

I took a trade at the PIN/Hammer that formed under the R100 level of USD/JPY and opened two positions successively and whao, you know what IT ROCKS, I made 59pips and 35pips from both, got stopped out by my trailing stop but now its going up again but can't re-enter.

Thanks Davit and every contributor on this thread.
One thing though, I would like if this thread could be more active. Discussions about trade setups before and after they happen, drawbacks, indicator-free enhacements (TDI cross is okay, more not needed), etc.

Davit, what do you think about the AN trade setup you posted earlier on approaching 61S, its bounced up to 38S already, would any price action signal at that level do any good? Taking note that today is Friday.

Thanks for this great thread and indi's once again.
Rapzy
Quoting Davit
{quote} 80% of my trades are on UC and some on AC and EC rest on EU AU NU GU EG I like the Cad because I can keep up with oil and Cad fundamentals.To me you only need 2-3pairs to reach your monthly goal. When you focus on few pairs you get to know it well and build confidence trading them. Its a misconception that one needs to be all over the place to make money.I can build 10 trades on UC equaling trading 10 different pairs but my results would be better because I only need one swing to collect. General guidelines to me is this If you have less...
Davit, Thanks for those guidelines! I will definitely check into those pairs.

N.
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