How to trade with an oscillator

Dear ST Da Could you please put some light on How do you make structural pivot fully mechanical.? Can you please tell some concepts which you have been keep using & which is mechanical & profitable? It will be helpful for me. If you can suggest some setups which can be use mechanically in entry & exit, I will be highly greatful to you. Thanks
Lot has been written on this excellent method by many people. Subhdip has written the entire thread on it and he dedicated few pages,diagrams and charts on how to identify the pivots. I have also added few post there and beyond that I have nothing more to add...Subhdip has written how to define a pivot in a mechanical way......kindly go through his thread very slowly, understanding each concept and the method will become totally mechanical ,easy to locate the trade locations. In his thread I had written few posts on the most common errors traders do in pivot method, those could be useful.....

There are many other mechanical systems too.....pivot method is very accurate but it is not easy to master...so may be you can choose some other mechanical method and master it........

Smart_trade
 
To trade a Long breakout above a Pivot High,
you are essentially buying the highest price at that point of time.

or when taking a Short trade with Breakdown of Pivot Low,
you are essentially selling the lowest price at that point of time

Ask yourself if you are comfortable doing that, and only if the answer is yes, try to master these methods.

Basically with all trend following systems that use some kind of breakout as entry for the trade
we need to develop a mind set of buying high for a long entry and selling low for a short entry.


Those who are not comfortable with identifying pivots can try to use the N-bar breakout method for entry
maybe filtered with a moving average. but be aware that these types of systems have a low win/loss ratio.

N-bar breakout was used in Turtles Trading Method as entry along with a very elaborate position sizing / MM Plan
they had deep pockets and were trading a highly diversified portfolio using multiple markets . . .

As we are trading a single market, we need to be also ready for deep draw downs . . .

The major part of a trader education is not about learning price action entry / exit methods etc
It is accepting the characteristics of the trading systems like low strike rate, deep draw downs, etc


And for some friends . . .
not able to buy the lowest tick or sell the highest tick is the biggest problem
with these trend following breakout systems :)


Edit:
Although it was a 22 Days Break-Out method for entry,
it was named as The Donchian Breakout System by the Turtles
So those who want to know more can google for it.
 

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