Pivot Trading- a new way of Trading

[niftytaurus]

hello niftytauras

i have seen your chart in many places you have market pl/ph with only one down bar or one up bar and in start of this thread subha commented that the ph and pl sould have atleast two subsequent down bar/up bar

pls clarify

thanks

Hi Anilji
As I said earlier, nothing is wrong or right in trading..even ST Da says, its discreationary trading, & different traders mark mpl /mph differently..& with different rules..
frankly speaking, I dont follow rules for marking them as I have been following pivots in my trading very long before that thread..so I just go by my eyes..i dont see rule by rule..I have learned Fractals..so its just a visual job..some use 3 candels pivot & some 5 candels..I just go by my eyes..it can be wrong also & may be not abiding by rules..but I am comfortable in it
I have learn methods whichever related to Price action & I choose only things in which I am comfortable & sometimes I mix some..its a very discreationary process..
thanks

 

[anilnegi]

Hi Anilji
As I said earlier, nothing is wrong or right in trading..even ST Da says, its discreationary trading, & different traders mark mpl /mph differently..& with different rules..
frankly speaking, I dont follow rules for marking them as I have been following pivots in my trading very long before that thread..so I just go by my eyes..i dont see rule by rule..I have learned Fractals..so its just a visual job..some use 3 candels pivot & some 5 candels..I just go by my eyes..it can be wrong also & may be not abiding by rules..but I am comfortable in it
I have learn methods whichever related to Price action & I choose only things in which I am comfortable & sometimes I mix some..its a very discreationary process..
thanks

Yes you are right definately, but as a old user of this pivot system i really think that you must have uses different style to observe diffrence between different system, if you share your experience it will help a lot for new user of pivot system like us.

thanks

anil

 

[wisp]

Yes you are right definately, but as a old user of this pivot system i really think that you must have uses different style to observe diffrence between different system, if you share your experience it will help a lot for new user of pivot system like us.

thanks

anil

Anil, Subhadip has given a definition of Pivot, Vjay and ST Da have also shared theirs, i think both those are in VJAY thread document. Pick one of the three and stick to it. Pivot is a turning point in price. We just have to pick a definition and stick to the same definition, day in and day out.

 

[vivektrader]

Thanks very much NT sir, I am trying to read in between lines, but will bother you time and again so please excuse me for that. wish you the best in all your future ventures.
regards always
vivek

 

[vivektrader]

dear thread members how do you select scripts from Nifty 50 for intraday price action trading.

 

[kumudhan]

sorry wrong post.......

 

[vivektrader]

Its ok kumudhan

 

[niftytaurus]

Yes you are right definately, but as a old user of this pivot system i really think that you must have uses different style to observe diffrence between different system, if you share your experience it will help a lot for new user of pivot system like us.

thanks

anil

Hi Anilji
I am not old user of pivot system..I said I use pivots in my trading, not pivot system..
I have learnt from ST da thread on swing traing,Raghav sir thread,pratap sir thread, niftynirvana blog & many more & now some concepts from this thread..I never follow the full system of anybody ..I only take the ideas which I like or I am comfortable with..& take this idea, if its useful in my trading..
As Wisp bro says rightly , you just follow any one defination of pivot & follow it consistentaly
every trader has different psychology & different risk bearing capacity..so its not necessary, that the system which works for one trader works for another trader also..my opinion is "systems dont make money, only Trader makes"

system play only 10% role in trading success, rest 30% is money management & 60% is psychology.no system is perfect or 100% right all the time..if system probabilty is 60-70% ,& r:r is 1:2..you would be winner..
even If you right 50% of time, & follow 1;2 risk reward..you will come out as a winner after certain no of trades
thanks

 

[vivektrader]

NT sir how do you select scripts for intraday trading?
Regards
Vivek

 

[niftytaurus]

NT sir how do you select scripts for intraday trading?
Regards
Vivek

Hi Vivek Bro
Please dont call me sir..I am a learner like you..there are so many teachers here in traderji who deserve respect of sir.
I am just a fellow learner which is not teaching anything but just sharing what I have learnt in this journey.
I dont trade in different scripts.as Every scrip has a different character & moves..so in starting we should stick to one index or scrip..so we can learn its character..especially in price action, we should first learn 1 scrip movement, then only can move to other index/scrips..
traders who trade different scrips in intraday can give you answer
thanks