Pivot Trading Davit
https://www.forexfactory.com/showthread.php?t=588764
Disclaimer
If you have less then 2years of experience in Forex I recommend not even trying my system.
This requires understanding of PA and I won't answer mundane questions and if you should ask basic
trading 101 questions I will ban you from this thread.
This is not for new traders and you will lose your $$! Don't want any part of it.I may make it look easy
and trust me its not!Took me many years to get here and road was rough with lots of hardships.Keep your
money and try something easier on system threads.If you can't draw an apple don't expect you can draw a
human figure.Everything in life has appropriate steps.Violators will be removed!
Not responsible for your gains or losses.
Please use my template and indicators only.
This is so we are all on same page and stick with what is being shared here.
If you do post with added indicators you will be removed from this thread without warning!
If you ask me why your pivots are different then mine I am going to remove you on the
spot!Explanation and solution is on this page!
Five fundamental truths:
1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that
define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening
over another.
5. Every moment in the market is unique.
– Mark Douglas
Hi guys
love Fibonacci pivots! TDI which is RSI+MA rest of fluff I took it out.
Here is how to trade pivots.
As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal)
100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.
Pivots can be traded both with the trend and against.I personally don't subscribe to typical bookish mentally
that if previous H4 is bear then assumption should be another bear candle.This is very wrong way to look at
the markets.Markets are in constant motion and within 1 H4 candle price can move opposite over 100pips
against previous candle so its not about previous candles but where price is in relative to pivots.In simple
terms Location is what is important.
I trade 15-30min charts however bigger works as well.
TDI is our friend.When price hit major pivots we wait for TDI to turn thus confirm the move. Sharp
angles important when its almost horizontal PA is weak or consolidating thus avoid trading.PA is king
always!
Pivot is based on broker time start and that varies from broker to broker.My broker is NY based hence if you
are in that time zone no need to change anything however if you live outside this zone you need to adjust the
pivot to match mine.10pips or less Pivot difference is acceptable and normal.Its a zone after all.
In order to move the pivots you need to take these steps.
Get into indy settings. Set brokers candle to false. This is the key to being able adjust the pivots up and
down
'Choose H1 start candle': 2016 06 19 05:00
'Choose H1 finish candle': 2016 06 24 05:00
(5.00 a.m. may not work on your chart so try different hours till pivots line up).
Fiddle with the hour on your 'Choose H1 start candle/finish' settings to get it to line up with my pivots.
When you find the corresponding hour, set the start candle and finish candle to the exact same hour. Once
adjusted save as template and use that on every pair.
Updated Pivot indi just change time zone and broker candle false
should work wherever you live
STOP LOSS
1 Decide how much each swing is worth example $500
2. Divide $500 into mini lots for multiple entries example .50c a pip gives 1000 pip distance
3. This allows averaging in orders as seen fit irregardless if previous orders are in red
4. Orders are placed as long as reason for trade is still valid
5. If conditions change loss is taken since orders are not placed all at once this allows smaller loss
Swings
Each Swing investment $500 (example yours could be anything)
Swing is taken as loss once -$500 is reached
There are no exceptions.No running red beyond $500
Orders broken down into mini lots that satisfies each swing consist of 10-15 trades
My budget for this is 2-3% of account risk say $500 for example.I then enter trades on mini lots and as long
as my 500 is not consumed on DD and I am still confident of my trade I stay on it.I may choose to get out
early but most times my SL is predetermined.This allows me to cast a wider net. So my 10mini lots can
cover 50pip distance hence capture better RR
There is advantage to trade this way.Should PA go against you and you no longer like the trade you
can get out by fraction of lot invested hence your loss is minimal instead of traditional 1 trade 1lot per
trade when if wrong loss is substantially higher.
Numbers posted are for examples only
Note very important this system does not work best with hyper pairs that usually have over 120pip
20day period ADR like GJ GA GN etc
From numerous trial and errors low ADR pairs fits the best in my method
Pairs I trade most often
UC AC NC EA AU GU NU AN EU Yen crosses like CJ NJ AJ
This is advance trading
I won't answer questions like
What is pivot/ support resistance/ price action/Fibonacci trading etc.For that check out babypips.com
Note this is NOT TMS.Nothing I do is related except that I use TDI
Anglelator is there to see what PA is doing on other TF's developed by Griffinsoul and his team of
contributors.Its not a signal only a supportive actor.
If you are harmonic trader you'll find this fib pivot indicator often corresponds on key zones.
Books that will help you
Trading in the zone
The Disciplined Trader: Developing Winning Attitudes Mark Douglas
Trading in the Zone Mark Douglas
Psycho-Cybernetics, A New Way to Get More Living Out of Life Maxwell Maltz
The Secrets to Emotion Free Trading Larry Levin (clipboard under Davits Philosophy)
Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets Scott M Carney
Volume 2 as well
Free book by him on clipboard (theht)
Required to watch videos by Mark Douglas
Attached Files
daily_open_line.mq4 2 KB | 15,956 downloads
FFCal Headlines.ex4 36 KB | 13,798 downloads
TDI-RT-Clone.mq4 4 KB | 17,857 downloads
TMS_Angleator V3 - RT2.ex4 32 KB | 13,721 downloads
TMS_Angleator V3 - RT2.mq4 25 KB | 14,625 downloads | Uploaded Apr 28, 2016 10:45am
ADR_v2.ex4 11 KB | 14,126 downloads | Uploaded May 19, 2016 10:55pm
pipsometer_decimal_edit_2.mq4 4 KB | 13,336 downloads | Uploaded May 19, 2016 10:55pm
Magnified Market Price.mq4 1 KB | 12,980 downloads | Uploaded May 25, 2016 12:09am
Davits Pivot V3.mq4 24 KB | 15,630 downloads | Uploaded Sep 28, 2016 7:46am
Davit pivot3.tpl 27 KB | 13,525 downloads | Uploaded Oct 10, 2016 11:49am
