My trades based on "new way of pivot trading" and vwap

[vivektrader]

hi, initial entry = 50;
1st and 2nd add = 30;
thanks

I used to play with 2000 i.e. one lot of tatasteel futures, and got murdered many times . I found it difficult to maintain discipline and manage my trade when trading such quantities, market appears to move faster.
Thanks
Vivek

 

[vijkris]

as per my understanding exited at day's bottom is not a good sense for a day trader, just book partial profit and for the rest maintain TSL. I think actual exit should be above next pivot.....however try subhadip sir's rally and decline....
thanks for your chart and nice trading.....

hi,
It was almost panic exit. Unfortunately it turned out to be bottom. it was a clear case of "fear of loosing profits".
It ll take lot of practice to wait for next pivot. working on it.
Thanks

 

[vijkris]

I used to play with 2000 i.e. one lot of tatasteel futures, and got murdered many times . I found it difficult to maintain discipline and manage my trade when trading such quantities, market appears to move faster.
Thanks
Vivek

Ya.. that's y I m improving the afl for increased visual cues, so that emotions can be controlled. Lets see..

BTW, tatasteel also was case of idf right? I mean opposite of yesterday's axisbank eg ?

 

[vijkris]

I used to play with 2000 i.e. one lot of tatasteel futures, and got murdered many times . I found it difficult to maintain discipline and manage my trade when trading such quantities, market appears to move faster.
Thanks
Vivek

If I am clear with the concept, I will try to include IDF rules also in this afl.
one basic Q., "Only the 1st opening bar and 1st mph/mpl BO/BD is considered for determining direction of entry". Is the sentence correct?
If u r unable to understand Q means, I have not understood at all :lol:
thanks

 

[vivektrader]

Re: My trades based on "new way of pivot trading" and vwap

Ya.. that's y I m improving the afl for increased visual cues, so that emotions can be controlled. Lets see..

BTW, tatasteel also was case of idf right? I mean opposite of yesterday's axisbank eg ?

According to IDF it was yesterday visual up, today it opened in range, we had to be long at the break of yesterday's minor pivot, which failed and gave a two legged move in opposite direction (short).
Thanks

 

[vijkris]

pls comment on the markings. want to be sure that I understood ur explanation.
thanks a lot.

 

[vivektrader]

Re: My trades based on "new way of pivot trading" and vwap

If I am clear with the concept, I will try to include IDF rules also in this afl.
one basic Q., "Only the 1st opening bar and 1st mph/mpl BO/BD is considered for determining direction of entry". Is the sentence correct?
If u r unable to understand Q means, I have not understood at all
thanks

All reference is regarding 'opening trade'
There are conditions when break of yesterday's minor pivot is taken for entry when for e.g. yesterday's visual up and today 'open' in range (not gap).
When yesterday's visual up and today gap up open we wait for a minor pivot to form over the opening bar and after it is formed, you go long over it.
Then there is a condition when yesterday was visual up but today open is gap down in range you go long over yesterday's mph if open above ERL and above yesterday's VPH if open below ERL or short below VPL(yesterday's)

Hope I am clear and made you clear if I was clear....

 

[vivektrader]

pls comment on the markings. want to be sure that I understood ur explanation.
thanks a lot.

Yes you understood correctly except that the first bar of the day was the big bullish bar next to the one you marked and the entire bar need not be in yesterday's range, only the open.
Hope it helps
Thanks

 

[rjshem]

Small correction short should be below today 6th bar low breakout failure bar below erl.erl draw from 2nd bar.

 

[vijkris]

Re: My trades based on "new way of pivot trading" and vwap

All reference is regarding 'opening trade'
There are conditions when break of yesterday's minor pivot is taken for entry when for e.g. yesterday's visual up and today 'open' in range (not gap).
When yesterday's visual up and today gap up open we wait for a minor pivot to form over the opening bar and after it is formed, you go long over it.
Then there is a condition when yesterday was visual up but today open is gap down in range you go long over yesterday's mph if open above ERL and above yesterday's VPH if open below ERL or short below VPL(yesterday's)

Hope I am clear and made you clear if I was clear....

dear, u r intelligent, so pls don doubt ur capabilities. I m quite good in English, but I have to improve a lot in the basics. i read it 5 times then I almost understood everything. :rofl:
I will bother u some other time, as i have to re read ERL and VPL,VPH.
my afl has vpl vph and erl, i think. but unable to interpret it.
thanks.