Pivot Trading- a new way of Trading

anilnegi

Well-Known Member
Todays trade
Relcap sold @ 409.2 buy @ 408.20 (not a good trade though)


Lic housing
Sold @ 465 buy @ 460 (it was a perfect trade)


thanks
 
Dear Subhadip, ST,

Awaiting your inputs please.
1) 6 Adds in intraday is very aggressive,stick to 1 or 2 or max 3 adds in a strong trend. It will be too heavy on psyche.

2) Your trade no 1 moved in your favour by giving a large red bar. After that it bounced back giving a PL failure so you must not loose anything from this trade by keeping a rigid stoploss...should have covered earlier.

3) Other trades look fine but always think of trades on a method and not on EOD thinking. Every trade ,profit booking must have a reason as per method, as we are going to trade these in real market.Some of your trades are on mpl, some on low of the bar....so you must be convinced about why you are taking those trades there.

4) There is a long trade also above VPH in the later part which you have not shown.

Well done...

Smart_trade
 

wisp

Well-Known Member

1) 6 Adds in intraday is very aggressive,stick to 1 or 2 or max 3 adds in a strong trend. It will be too heavy on psyche.

2) Your trade no 1 moved in your favour by giving a large red bar. After that it bounced back giving a PL failure so you must not loose anything from this trade by keeping a rigid stoploss...should have covered earlier.

3) Other trades look fine but always think of trades on a method and not on EOD thinking. Every trade ,profit booking must have a reason as per method, as we are going to trade these in real market.Some of your trades are on mpl, some on low of the bar....so you must be convinced about why you are taking those trades there.

4) There is a long trade also above VPH in the later part which you have not shown.

Well done...

Smart_trade
Da I have a doubt in Point 2. At what point do you consider it a PL failure in Trade 1?
 



Da I have a doubt in Point 2. At what point do you consider it a PL failure in Trade 1?
When any bar closes above the PL the market had broken and then the high of that bar is taken out, that time it is almost certain that we have a PL breakdown failure at hand.

Just below your entry we see three small same level bars( blue,red and blue) where the market was accumalating after the breakdown failure. On top of these bars we must cover our short positions.

Smart_trade
 

wisp

Well-Known Member


Da,
On Nov 20th, where was the short in Nifty? Was it 12.42 pl or higher?
 
Last edited:

TracerBullet

Well-Known Member
When any bar closes above the PL the market had broken and then the high of that bar is taken out, that time it is almost certain that we have a PL breakdown failure at hand.

Just below your entry we see three small same level bars( blue,red and blue) where the market was accumalating after the breakdown failure. On top of these bars we must cover our short positions.

Smart_trade


When there is no momentum after pivot low break, will you cover too?
So In above example, cover above the first green bar after entry as its high is above PL? If yes, after exit price fails to move up too. Is re-entry below PL ok ?

This also means that the initial SL above pivot high is only for protection against immediate rejection and we plan to get out earlier if price stays above PL.
 
1) 6 Adds in intraday is very aggressive,stick to 1 or 2 or max 3 adds in a strong trend. It will be too heavy on psyche.

2) Your trade no 1 moved in your favour by giving a large red bar. After that it bounced back giving a PL failure so you must not loose anything from this trade by keeping a rigid stoploss...should have covered earlier.

3) Other trades look fine but always think of trades on a method and not on EOD thinking. Every trade ,profit booking must have a reason as per method, as we are going to trade these in real market.Some of your trades are on mpl, some on low of the bar....so you must be convinced about why you are taking those trades there.

4) There is a long trade also above VPH in the later part which you have not shown.

Well done...

Smart_trade
Dear ST,

1. Point taken.

2. Very true. Having the trade in favour by 40-odd points and then ending in negative is poor trade management.

3. Keen observation by you and point taken by me. There has to be a method to the madness.

4. Yes there was a long trade but I omitted as my short trades are mostly failures so wanted to get Coach opinion on them.

Thanks a ton for taking time out to explain. Long path for me but will walk it.
 

anilnegi

Well-Known Member
Yes bank
Very bad day today or may be i may earn both side
buy @ 751.10 SL trigger @ 748.80 again sell @ 748.80 sl trigger 750.90



ST Da/ any senior- Is it a normal whipsaw day or i was taking wrong trades, pls advise.

thanks

anil negi
 
Yes bank
Very bad day today or may be i may earn both side
buy @ 751.10 SL trigger @ 748.80 again sell @ 748.80 sl trigger 750.90



ST Da/ any senior- Is it a normal whipsaw day or i was taking wrong trades, pls advise.

thanks

anil negi

1. long above first bar high. as visual trend trend was up, long above mph above vph that is first bar high. ppb at 10.45 bar close, exit below 10.50 bar low. your long entry was not correct.
2. Shorts below 11.45 low, but i wont take as support area 748 was nearby if taken then be quick in taking profits and move stops early. hope it makes sense.
 

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