Pivot Trading- a new way of Trading

amitrandive

Well-Known Member
Another important Trick which I have not shared till now:

If you trade one script, you have to know 100 (just a number) tricks / setup/ methods to trade it successfully.

But if you trade / look into 100 (just a number- more is better) scripts, if you know one trick/ setup/ method it is sufficient.

Now it is your choice.

:thumb::clap::clapping:
Great Sirji !!!
:clapping::clapping::clapping:
Just adding to your post ,material found on the net.


http://www.learntotradethemarket.co...ies/master-one-price-action-trade-setup-first

Are you trying to trade with a combination of different methods, indicators or systems? Do you feel a bit overwhelmed by all of it? The first thing you are going to need to do is change how you think about trading strategies.

Trading is not about learning as many methods or systems as possible and then combining them into some sort of ‘hybrid Holy Grail’ trading strategy. Sadly, this is not going to help you, it will only hurt you. Trading is simply about learning an effective trading strategy or ‘edge’ and becoming a master of it, or a specialist, if you will. You then simply look for your trading edge in the market, and since you’ve mastered it, you will know when it is present and you will act without hesitation.

Trading is about jumping in the market when you have decided the odds are in your favour. Your trading edge is what gives you better odds at making money in the market.

Now, in regards to becoming a trading specialist. It’s pretty simple really, until you have really mastered the trading edge you are using, you won’t be hitting your full potential as a trader. Thus, it is my strong recommendation that traders focus on only one price action trade setup at a time, until they are truly confident they have mastered it. That might mean you only trade that one setup for 6 months, it’s the only one you study and look for in the market. Once you have mastered how to trade it in all market conditions, and you have no doubt of how and when to trade it, then, and only then, may you move on to another setup.

I find that many people don’t want to put in the time to learn and master their trading method. Then, when they lose money, they act confused and shocked. The problem with trading for most people is that there are no rules, there’s no boss, there’s no one telling you in your face that you must do THIS if you want to achieve THAT. So, human nature and habit take over and people end up doing as little work as possible.

This is why I get emails from people asking me about their trading strategy, asking if XYZ ‘is a setup or not’…because they didn’t take the time to master their trading method. When you become a master of your trading strategy, you don’t need to ask anyone else if your edge is present in the market, because you already know if it is or not.

Indecision and hesitation while trading a live trading account, is one of the fastest ways to lose money, simply because you were unprepared. When it comes to your hard-earned money being on the line, don’t you want to be as prepared as possible?? I sure do. So, if you lose money in the market because you didn’t put in the time to really master your trading method by mastering one setup at a time, you have no one to blame but yourself.

Once you’ve become a specialist in your method, when your trading edge is present, you will not hesitate. This is critical because in order to realize the full power of your trading strategy, you need to take every occurrence of your trading edge (setup) that you see, because it needs to play out over a series of trades to be realized. So you need to remove hesitation and indecision from your mind, and the way you do that is by mastering one trade setup at a time, and in the case of my methods, that means one price action setup at a time.

Finally, traders become too inundated with data, economic news and trading methods, they believe that ‘more is better’ and they just need to know more or learn one more trading method to start profiting consistently. Eventually, when they realize this doesn’t work, they give up in exhaustion and frustration.

Simplification of your trading is another huge reason you need to master one price action setup at a time. I would even go so far as to say that you only need to master one price action setup if you want. Imagine sitting down at your charts and knowing that you’re only looking for one trade setup, and if it’s not there then you walk away. Trading doesn’t have to be complicated or confusing, nor should it be. The way that you remove the confusion and complication from your trading is by taking the time to master one price action setup at a time
 

shekharinvest

Well-Known Member
My kudos to Subhadip and VJAY for taking efforts to selflessly impart their knowledge to fellow traders :thumb:

To the Fish Lovers.

Just found this doc while searching some other book in my lop shared to me long back by my friend VJAY.Modified the doc name to avoid :D

http://www[dot]4shared[dot]com/office/Td1L0cBwce/Fish.html

Happy learning,Fishing and discussion :thumb:
now the file is not there sir...can anybody please share it again?
Thanks in advance :)

That link seems to have expired. Can you please repost the file or alternatively you can upload the file through your gmail account using google document and share it as public document and post the link here. Neither it expires nor you have to search it again.

SHEKHAR
 
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shekharinvest

Well-Known Member
Dear Subhadip,

Gone thru the whole thread where you have so painstakingly explained the trading strategy. Now I have a bit feel of the trading system. You have made great efforts to explain each and every query and I must compliment you for your efforts.

In last few days some charts for Intraday trades too were posted by the fellow boarders and you have made comments on those trades and guided / corrected them too. What I feel is that instead of guiding on individual trades - on different securities and different TF's etc. randomly we must concetrate on one security NF/BNF on intraday trades 3min /5min time frame for few days.

I request why don't you please post your intraday trades for couple of days, preferably NIFTY on your traded TF (3min I guess) I am fully aware of the fact that it takes enormous time and effort to create a meaningful post but it will help in a sense that we will have a continous flow of your thought process like why you took a trade or why it was not taken what action was taken on Gap up days and Gap down days, range days and interpretation of higher TF and the plan for the next day based on today's action on higher TF.

A few days may be 7-10 day, I believe all market conditions will be covered in these days. You can post you action at EOD with your commentary. From there onward one of us can continue for next few days and you can guide us.

Regards,
SHEKHAR
 

monkeybusiness

Well-Known Member
Dear Subhadip,

Gone thru the whole thread where you have so painstakingly explained the trading strategy. Now I have a bit feel of the trading system. You have made great efforts to explain each and every query and I must compliment you for your efforts.

In last few days some charts for Intraday trades too were posted by the fellow boarders and you have made comments on those trades and guided / corrected them too. What I feel is that instead of guiding on individual trades - on different securities and different TF's etc. randomly we must concetrate on one security NF/BNF on intraday trades 3min /5min time frame for few days.

I request why don't you please post your intraday trades for couple of days, preferably NIFTY on your traded TF (3min I guess) I am fully aware of the fact that it takes enormous time and effort to create a meaningful post but it will help in a sense that we will have a continous flow of your thought process like why you took a trade or why it was not taken what action was taken on Gap up days and Gap down days, range days and interpretation of higher TF and the plan for the next day based on today's action on higher TF.

A few days may be 7-10 day, I believe all market conditions will be covered in these days. You can post you action at EOD with your commentary. From there onward one of us can continue for next few days and you can guide us.

Regards,
SHEKHAR
Nice suggestion, I will second it.
 

amandeep86

Well-Known Member
Subhadip Sir,

I have a query ,posted below is NF 3Tf chart of Oct 1,2015.

My system entries are to trade ERL failures and Enter on Break of H/L of candle closing below ERL line ,My entries on Friday lead to multiple entries with 3 continuous losses .

Please advise how can we avoid /trade such situations.

 

SaravananKS

Well-Known Member
ERL

What I have learnt from Saint sir, Kapil Sir , Pratap Sir & ST Sir:

Characteristic of ERL:
ERL to be taken from Clear Trends and not in Sideways.
@Amandeep What I have learned is ERL should not considered in sideways. One can not avoid first trade loss why one should take trade even after he visualize sideways ?
 

amandeep86

Well-Known Member
@Amandeep What I have learned is ERL should not considered in sideways. One can not avoid first trade loss why one should take trade even after he visualize sideways ?
Dear Sarvanan,

I could not visualize it as sideways ,We are making HH ,HL ...Please explain a bit
 

sangram1705

Well-Known Member
Subhadip Sir,

I have a query ,posted below is NF 3Tf chart of Oct 1,2015.

My system entries are to trade ERL failures and Enter on Break of H/L of candle closing below ERL line ,My entries on Friday lead to multiple entries with 3 continuous losses .

Please advise how can we avoid /trade such situations.

i will try to answer, but pl follow dada's advice only.

1) The situation can be avoided if u consider the ERL as activated when price has moved a good visual distance from those minor pivot highs. 7-8 pts movement is not good enough for 3min tf (i believe so)
2) to go short why wait for candle close? in shorter TF we take pos immediately on breach of ERL.
thanks
 

amandeep86

Well-Known Member
First question:

Are those ERLs?

Second question:

Have u forgot about Filter?


Third Question:If there is any logic behind those trades?
First Answer -

These are minor ERL by minor pivots mph and mpl.ERL got activated once price closed above the mph body pivot line.

Second Answer -

Filters not used , pls suggest the value for 3 Tf. Will use in future

Third Answer -

ERL act as a good support for prices in trend , price after breaking Mph closed above mph thus activating ERLs but was not able to sustain and reversed back showing possible weakness for reversal

This was my entry logic for all cases.

Pls give your insight and correct me for my understanding.
 

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