Pivot Trading- a new way of Trading

Subhadip

Well-Known Member
Excellent.


But my question to you?

Why first long trade taken? What is the reason?

First short is excellent..
12 noon short trade is not there.
Long at 1 pm is not there- price within range (for the beginner ).
Excellent short trade 2 pm….nice,
1) Opening long trade- yesterday visual trend was up..& market gap up above VPH,so we can long over mph
2)12 noon short trade- market start making low vph & lower vpl.so visual trend is down..& now its making ranges..so I can short on resistance
3) range is there..but it breaks last pivot low & range but fail..& prices reverses fast & making a high volume Hammer..which is range failure & it was range support..so I bought..
thanks

Good job my dear friend... Excellent price action trading my friend...
 

Subhadip

Well-Known Member
First long trade is not there : as in yesterday range (afternoon range).
Good short trade.

But no long at 2 pm- why are you trading long?

2:30 pm short also not there..
14 jan
1) first long trade-previous day visual trend was down..market opens in range but above visual erl, so as opening rules, we can go long above vph
2)long at 2 pm-
triangle break out & erl reversal
3)2:30 pm short- visual trend is down- so I was waiting rally to finish..& then market reject with a shooting star & then again second time rejects..
thanks
:thumb::clap::clapping:

But not convinced about first long trade though :)
 

Subhadip

Well-Known Member
Dear Shubhadip bro
Thanks a million!
Its so great of you that you have given your precious time & knowledge & checking my every chart with so much attention..its really a hardwork which you is doing for me..its really so kind & nice of you..no words can express my gratitude to you.
thanks a lot
Enjoy !!!!
 

niftytaurus

Well-Known Member
:thumb::clap::clapping:

But not convinced about first long trade though :)
shubhadeep bro

I took that long with rule..where it mentions when yesterday visual is down, & price opens up into range but above visual ERL, we can go long above VPH..
Yes you are right, I entered at MPH, it was not VPH..
I just saw price taking supports at trend line & rally..may be fear of losing long opportunity after seeing a good rally..in hurry , I took chance on MPH, which was wrong.. & it was a loss trade

thanks
 

Subhadip

Well-Known Member
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
Thanks Da.......
 
In my view , if any one wants to be winner, please have money first for all those adds,

If one can not add up the initial entry, he will not be successful- I am seriously telling it.

In winning trade one has to get much much more from it.
Great work subhadipji on this thead :thumb: .I am disagree with you on one point. You said
If one can not add up the initial entry, he will not be successful.If a trader is following a trading system with positive expectancy and good money management how he can't become successful if he don't add to his winning position. He must have to be successful without adds.How can we use 30% or 40% of capital for initial entry even though there is very tight stop?I think we must have to position ourself as per the risk capital and not by the fixed size of account.
 

Subhadip

Well-Known Member
Great work subhadipji on this thead :thumb: .I am disagree with you on one point. You said
If one can not add up the initial entry, he will not be successful.If a trader is following a trading system with positive expectancy and good money management how he can't become successful if he don't add to his winning position. He must have to be successful without adds.How can we use 30% or 40% of capital for initial entry even though there is very tight stop?I think we must have to position ourself as per the risk capital and not by the fixed size of account.
Thanks for the good words my dear friend.

That view was purely as per my experience. That is all I can say. And by saying successful I mean to say big earning my dear friend.
 

Subhadip

Well-Known Member
My view, posting seeing from mobile:
First long SL should be first bar low.

Last long trade not there. Any justification my dear friend.
 

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