Learn How To Fish
- Thread starter VJAY
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ST da's explanation about pivot method.........
Because only few traders have learnt the system well....few trade it in incorrect way,lose and then give up. Also many pivot traders have tweaked the system to suit them.Few have tried to learn but then given up as they might have found better system elsewhere.Many traders here confuse intraday pivot method with Flow Method . Both are different though the basics are common.
In general very few traders make money on whichever system they use...in our forum may be 4-5 traders use it . This method needs understanding of basic concepts..it is not like see the arrow and take a trade or some AFL which gives signals...
I am not here for advocating this system. I am not an inventor of this method. I generally avoid replying but when I find a person taking efforts to learn but is unable to progress further, I try to help him. I replied to a question and that is how this conversation started . I find this method as the best...my personal opinion...someone else may not find it suitable to his mindset. If someone does not become successful with this method in 6 months, then he should look for something which suits him and not waste time on this system. I dont think majority are losing on this system but majority find this system hard to master ..that is a fact.
Winning traders are rare to find and that is a hard fact of this business.
Because only few traders have learnt the system well....few trade it in incorrect way,lose and then give up. Also many pivot traders have tweaked the system to suit them.Few have tried to learn but then given up as they might have found better system elsewhere.Many traders here confuse intraday pivot method with Flow Method . Both are different though the basics are common.
In general very few traders make money on whichever system they use...in our forum may be 4-5 traders use it . This method needs understanding of basic concepts..it is not like see the arrow and take a trade or some AFL which gives signals...
I am not here for advocating this system. I am not an inventor of this method. I generally avoid replying but when I find a person taking efforts to learn but is unable to progress further, I try to help him. I replied to a question and that is how this conversation started . I find this method as the best...my personal opinion...someone else may not find it suitable to his mindset. If someone does not become successful with this method in 6 months, then he should look for something which suits him and not waste time on this system. I dont think majority are losing on this system but majority find this system hard to master ..that is a fact.
Winning traders are rare to find and that is a hard fact of this business.
Good post by pannet how to be successfull trader with your method.....
here is no treatment for discretionary trader. The solution is simple and sequential for a systematic trader. You cannot jump from one to another by missing out the one in the middle. I am trying to provide here, what my mentor taught me.
1) keep 2 YEARS worth of LIVING EXPENSES
2) BACKTEST your system with 10 years of data, MANUALLY
3) find out whether your system has EDGE or NOT
4) find out what is your MAX DRAWDOWN and MULTIPLY It by 2.
5) assume that you are going to HIT your (MAX DRAWDOWN X 2) from your first trade on wards.
6) FOLLOW your system.
You are CONFIDENT that your system works because you have backtested for 10 years . now you will be DISCIPLINED
here is no treatment for discretionary trader. The solution is simple and sequential for a systematic trader. You cannot jump from one to another by missing out the one in the middle. I am trying to provide here, what my mentor taught me.
1) keep 2 YEARS worth of LIVING EXPENSES
2) BACKTEST your system with 10 years of data, MANUALLY
3) find out whether your system has EDGE or NOT
4) find out what is your MAX DRAWDOWN and MULTIPLY It by 2.
5) assume that you are going to HIT your (MAX DRAWDOWN X 2) from your first trade on wards.
6) FOLLOW your system.
You are CONFIDENT that your system works because you have backtested for 10 years . now you will be DISCIPLINED
- Status
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