Pivot Trading- a new way of Trading

[vivektrader]

My dear friend it is learning of trading thread, and all are teaching some basic regarding posting picture and basic thing in this thread.

Strange.

Make a new thread and learn all related to posting making chart marking and picture posting there.

Point taken sir.

 

[vivektrader]

Point taken sir.

Tatamotors
Shorted below 369.67, but covered as 15 minute candle closed between two MAs.

 

[Subhadip]

Tatamotors
Shorted below 369.67, but covered as 15 minute candle closed between two MAs.

You have shorted, good.

So you were in decline.

One question tell me when that decline stopped and rally started?

 

[vivektrader]

You have shorted, good.

So you were in decline.

One question tell me when that decline stopped and rally started?

I think rally started at 7th candle and confirmed when the high of 4th candle of the day(the bearish one) was taken out, with vph at 6th 15min candle of the day

You have shorted, good.

So you were in decline.

One question tell me when that decline stopped and rally started?

 

[Subhadip]

I think rally started at 7th candle and confirmed when the high of 4th candle of the day(the bearish one) was taken out, with vph at 6th 15min candle of the day

If you know where your decline stopped and rally started. That should be your exit point.

Hope you are clear now.
Also I hope that during later part of the day with long you were not paper trading.

 

[sangram1705]

If one wait for price to close above MA bar high/rather than just break high, it will help to avoid many whipsaw

That may work better if you are trading higher time frames like 60/15 min and above. In smaller time frames like 15/5 mib you will be tossed. Specially if you are trading against higher time frame.

PL check and post some comparative charts of both tf

 

[mmohanar]

Tatamotors
Shorted below 369.67, but covered as 15 minute candle closed between two MAs.

Dear vivek

What mobile app you are using?

 

[vivektrader]

Dear vivek

What mobile app you are using?

Zerodha Kite web version.

 

[vivektrader]

Summary of Subhadeep's 2MA system (explanation in case we are Long)

Two MAs 21SMA and 8EMA

Two timeframe combination:
Hourly-15min.
15min.-5min

First confirm Higher time frame candle close above both MAs, no need of MA cross.

come to lower timeframe to take position for e.g go long when:
there is a minor pivot break
visual pivot break
break out from a range/flag
Breakout failure

Stop Loss: low of two bar back (from the entry candle, both the preceding bars should be lower than entry bar)/a minor pivot (if it is closer)

Exit: at a visual pivot (entirely or part profit booking, rest may be trailed or kept till end of day), known resistance.

Don't enter in previous afternoon range (unless you are Subhadeep) afternoon roughly means after European market opens i.e.
after 1:30pm

Being a trend based system, only enter when in clear trend.

vice-versa for short situation.

please feel free to add to above points or correct me
Thanks
Regards

 

[lemondew]

Just a beginer here. Not an expert by any means. I ve been reading a lot of posts and EOD charts and paper trading and how it works in this thread.

I test a system to find the number of cases where I implent the system as how I understand and make a loss. Track the number of setups where I loose. no loss = some profit

Hopefully I make some money