My Journey In Technical Analysis

[TracerBullet]

I dont use pivot system for entry either and already have some entry edges. Now just looking to see options for trade management and to finalize on something.

Mechanically defined but not converted to AFL ,there is no if and buts whats so ever..,

If its comfortable, would you share what is the rule set that you use for defining pivots for trailing, How do you define a structural pivot ?

 

[XRAY27]

I dont use pivot system for entry either and already have some entry edges. Now just looking to see options for trade management and to finalize on something.



If its comfortable, would you share what is the rule set that you use for defining pivots for trailing, How do you define a structural pivot ?

Just take points of definition from Subhadip initial posts of pivot...without adding other stuff..you can understand

 

[VJAY]

Ans to 1

Mechanically defined but not converted to AFL ,there is no if and buts whats so ever..,i'm not good in coding so i tested bar by bar manually ...my entire system is based on MP(trend,entry) only TSL is pivot based..

Ans to 2

obviously!!! have to wait for pivot formation as per my rules

Ans to 3

Yes

Pivot as full blown system !! well !!! i cannot trade...so using MP for trade location ,trend, filtering etc,,many are using it @VJAY in particular ..is he using it in mechanical way or some sort of discretion i don't know..anyways tsl or target based go as per your comfort ,i'm failure at determining target so moved to this tsl way

Ans to 1

Mechanically defined but not converted to AFL ,there is no if and buts whats so ever..,i'm not good in coding so i tested bar by bar manually ...my entire system is based on MP(trend,entry) only TSL is pivot based..

Ans to 2

obviously!!! have to wait for pivot formation as per my rules

Ans to 3

Yes

Pivot as full blown system !! well !!! i cannot trade...so using MP for trade location ,trend, filtering etc,,many are using it @VJAY in particular ..is he using it in mechanical way or some sort of discretion i don't know..anyways tsl or target based go as per your comfort ,i'm failure at determining target so moved to this tsl way

Yes xray bro....mechanical way only

 

[XRAY27]

Yes xray bro....mechanical way only

Nice to know bro !!! ,please help @TracerBullet , in this regard

 

[VJAY]

Nice to know bro !!! ,please help @TracerBullet , in this regard

As you said to him you follow subhdip bros pivot ...I also defined my own pivots which I allready shared in my thread
..the same things I follow all which I shared

 

[XRAY27]

As you said to him you follow subhdip bros pivot ...I also defined my own pivots which I allready shared in my thread
..the same things I follow all which I shared

i'm just using initial points ,without other stuff ..

 

[XRAY27]

Money management is key for trading success,let’s introduce two important tenets
of money management:

1. No money management technique can turn an unprofitable trading strategy into a profitable trading strategy.

2. Poor money management technique can turn a profitable trading strategy into an unprofitable trading strategy.

According to the first tenet, we need a winning idea in order to trade for profit. Because of this, I believe that designing a profitable strategy is the first and foremost key to a successful trading ....LARS N. KESTNER

 

[XRAY27]

Intraday is not good,which hit my Max DD..both (weekly options),now painful recovery phase,which involues positional size contraction.,thanks to FRMM..i will update once recovery is completed.

 

[XRAY27]

Its time to move to weekly visit..

Metaphor of an Analyst vs a trader...

 

[XRAY27]

10 Bad Habits of Unprofitable Traders:

They trade too much. The edge that small traders have over institutions, is that they can pick trades carefully and only trade the best trends and entries. The less they trade, the more money they make, because being picky gives traders an edge.

Unprofitable traders tend to be trend fighters, always wanting to try to call tops and bottoms. They eventually will be right, but their account will likely be too small by then to really profit from the reversal. Money is made by going with the flow of the river, not paddling upstream against it.

Taking small profits quickly and letting losing trades run in the hopes of a bounce back, is a sure path to failure. Profitable traders understand their risk/reward ratio; big wins and small losses. Being quick to take profits while allowing losses to grow, is a sure way to blow up your trading account.

Wanting to be right more than wanting to make money will be a very expensive lesson.

A trader who doesn’t want to take losses will most certainly balk at reversing his position because it signifies personal failure. A profitable trader is not afraid to get on the right side of the market to start making money.

Unprofitable traders trade too big, and risk too much to make too little. The biggest key to profitability is to avoid big losses. Your wins can be as big as you like, but the losses must be limited.

Unprofitable traders watch CNBC for trading ideas.

Unprofitable traders want stock picks, while profitable traders want to develop trading plans and systems.
Unprofitable traders think trading is about being right. Profitable traders know that profitability is about admitting you are wrong quickly, and being right as long as possible.

Unprofitable traders don’t do their homework because they think there is a quick and easy route to trading success.

Unprofitable traders #1 question is how much they can make if they are right, while the profitable traders #1 concern is how much they can lose if wrong.

“Profitability is about admitting you are wrong quickly, and being right as long as possible.”

Source : Steve Burns (NewTraderU.com)