Pivot Trading- a new way of Trading

[Subhadip]

Sir any one pls explain this post

What have u not understood?

 

[deepashutrading]

What have u not understood?

sir am not proficient in writing english, hope u understand my questions

if Gap up confirms rally mPl is bar 2 or bar 3 sir...?
& for further confirmation here 3rd bar is out side bar..
what constitutes outside bar...? is that any succeeding bar which is higher high or lower low am i correct sir....

 

[deepashutrading]

What have u not understood?

Sir thanks for the Replay, when i read that post i had many doubts or completely didnot understand it bt am happy now i understand it my self....

 

[Subhadip]

Sir thanks for the Replay, when i read that post i had many doubts or completely didnot understand it bt am happy now i understand it my self....

Excellent..that is what i need...learn by yourself..if stuck anywhere i am here to help

 

[onequorauser]

Got chopped again and ended the day in loss despite longs in the upmove.

Didnt seem like a flag which one should be avoiding either

Is this a usual whipsaw or could I have done something differently?

 

[Smart_trade]

Got chopped again and ended the day in loss despite longs in the upmove.

Didnt seem like a flag which one should be avoiding either

Is this a usual whipsaw or could I have done something differently?

View attachment 25663

1) Your stops are kept at wrong places.
2) In a grinding upmove you are buying breakouts and keeping a small stoploss which is getting hit. You should have bought the dips once you knew that we are in uptrend and that would work in an uptrend in which rallies and declines get into each other.

Smart_trade

 

[onequorauser]

1) Your stops are kept at wrong places.
2) In a grinding upmove you are buying breakouts and keeping a small stoploss which is getting hit. You should have bought the dips once you knew that we are in uptrend and that would work in an uptrend in which rallies and declines get into each other.

Smart_trade

Thanks for your reply...Just a follow up question

how would have one known that although it is grinding, it is going to go up. Till trade 2 breakout, it appeared to have a potential to move in either direction and even subsequently, pivots were almost flat..

 

[Tuna]

A small tweak to all of you who are trying to use this style (with due permission of 2 tigers here):

1. First, make sure you have setup your mind to miss a trade (legit one) - to avoid getting trapped into fake exit

2. Wait for Pivot point break -- but, dont enter here (long or short). Make a note where you SL will be if you actually would have entered. Let the market pullback to your SL level and pull out and breach the pivot again - enter then.

That is the 'Fake Trading',

What we do in normal pivot trading is known all around and our SL becomes typical candiate what is known as liquiity pool, where most will place the SL. Market movers will try to hit that pool each time a Pivot is broken (they try, and most of the time successfully). Don't be the liquidity pool.

 

[Tuna]

Risk of doing this: You will miss strong move, where the pullback to orthodox SL zone will not happen. But, you ateast dont lose anything, but some precious time. If you see the to other thread (I guess @SwagatN ) where he is using Pivot trading - you will see same misses on his losing trades.

 

[onequorauser]

A small tweak to all of you who are trying to use this style (with due permission of 2 tigers here):

1. First, make sure you have setup your mind to miss a trade (legit one) - to avoid getting trapped into fake exit

2. Wait for Pivot point break -- but, dont enter here (long or short). Make a note where you SL will be if you actually would have entered. Let the market pullback to your SL level and pull out and breach the pivot again - enter then.

That is the 'Fake Trading',

What we do in normal pivot trading is known all around and our SL becomes typical candiate what is known as liquiity pool, where most will place the SL. Market movers will try to hit that pool each time a Pivot is broken (they try, and most of the time successfully). Don't be the liquidity pool.

I see where you are coming from but trade 1 was pretty much in line with what you mentioned and in trade 2 and 3 SL was not taken out initially but was taken out after the first move to a pivot low