Pivot Trading- a new way of Trading

[anilnegi]

Subha da

i did not trade with this method ever, but today i shorted one of my fav script around 344 below black line, is it correct method or should i taken care of few more things.

 

[Subhadip]

Subha da

i did not trade with this method ever, but today i shorted one of my fav script around 344 below black line, is it correct method or should i taken care of few more things.

What you are showing is very basic. Please learn some more tricks.

Here lies the trick:
Entry should be early. And SL nearer to the entry. I use that. All using price action along with pivot method along with some modification.

That is all.

Best of luck.

 

[anilnegi]

subha da

pls show how u trade this particular script

thanks

 

[Subhadip]

subha da

pls show how u trade this particular script

thanks

Go through this thread from the beginning.
You will surely know.

Best of luck my dear friend.

 

[anilnegi]

Go through this thread from the beginning.
You will surely know.

Best of luck my dear friend.

Yes da reading the thread, will try to post tomorrow trade, need your help on my marking, though

thanks

 

[vishnu_1990v]

Originally Posted by Purushotham View Post
Where and When to Add, Please explain or give some link

Thanks,
Hopefully somebody else will help you out this time. Else you can find those in some of my charts..

__________________
With thanks & regards,

Subhadip

Nihil Ultra (Nothing Impossible).

Purshotham,

I have tried to post from my side.
vishnu_1990v

 

[Purushotham]

Originally Posted by Purushotham View Post
Where and When to Add, Please explain or give some link

Thanks,
Hopefully somebody else will help you out this time. Else you can find those in some of my charts..

__________________
With thanks & regards,

Subhadip

Nihil Ultra (Nothing Impossible).

Purshotham,

I have tried to post from my side.
vishnu_1990v

Thanks Vishnu,

Is there any add at sl 2.9 low

Please give me some link, or please guide when and where to add.

 

[vishnu_1990v]

Purshotham,

Imp is money management .

vishnu_1990v

 

[krish4166]

Subhadip da,
Great going :thumb::clapping:
krish4166

 

[krish4166]

Purshotham,
From ST DADA Great Teacher,
Re: Thoughts on Day/Swing Trading Part 2
TO ADD or NOT TO ADD

One of the questions which bother traders whether day traders or swing traders is whether they should add to the winning positions or not.The answer is not simple because adding the positions when the market is going in our favour it a good trading practice but it has its own trade-offs. Let us see what are the advantages and disadvantages :

1) Advantages : 1) The main advantage is when we get a strong trend, and we add to our positions, the positions become large without any increase in risk as we add in such a way that the total position after adds are not jeopardised.So in a strong trend the adds can give profits of 5-10 R from 3-4 R price move.

2) Another advantage is as we are adding in the profitable position along with the trend, there is less tendency/temptations of booking profits and taking positions against the ongoing trend.

2) Disadvantages : The main disadvantage is the trader looses small profits.Most of the times markets are sideways and choppy and small profits which has accumalated will vanish if we take adds.

So how does a trader resolve the above dilema ? This issue is more bothersome for daytraders. Swing traders generally get good directional trend moves but daytraders will always feel bad if the small profit accumalated goes away due to add and the trade becomes a breakeven or small profit trade. The solution lies in achieving a balance . I have found that daytraders can take atleast 1 add in sideways/weak trending markets but the moment they sense that the day could be a strong trend day, they must add aggressively and hold till the end as the statistics indicates that the strong trend days close at /near the bottom/top of the day. On strong trend days holding till the end is much profitable than buy/sell during the day In grinding up/down and choppy markets one should avoid adds.

But for taking adds, one should be prepared to fergo some small profits. Adds in swing trading are very profitable when we get a large trend and we have initial position plus 3-4 adds. Adds could be in 1:1:0.5:0.25:0.25 position so that the add quantity is reduced as we go further in the trend.

Traders can practice by starting with one add on a trend day and holding till the end, then increase add positions to 2 and so on...even one add straight-a-way doubles the profits.

Smart_trade
__________________
While amateurs go broke by taking large losses,professionals go broke by taking small profits...... William Eckhardt in New Market Wizards

krish4166