Pivot Trading- a new way of Trading

[Smart_trade]

@Subhadip,

Don't get me wrong, but why do you feel the need to change your strategy. you were doing well with Pivot method. Doesn't matter if its easy or hard. you put in good amount of effort on this strategy and now you abandon it.

Why did you feel the need to change strategies? Discipline issue or has the strategy stopped working? i don't know.

I hope you don't get offended or angry by this post. I m just wondering why traders do this?

Though it is addressed to Subhdip, I thought it is very common to have that question in mind, so posting my views on it as under :

1) Every trader evolves from a new trader to a good trader and in that process he tries many systems and the ones he feels comfortable with , he continues with them.He modifies those systems to suit him.

2) Once a trader becomes a profitable trader, he has his best and 2-3 other systems which he does not trade but he likes them and he can trade any of them on a given day and be profitable. I trade same system from last few years but I still have few of my favourite systems .I have them on different sheets on my chart and we keep mentally checking where the other system would have given a trade. We still trade our favourite system, so having 2-3 systems does not mean one is doing system hopping ( that is done in the initial stages of a trader) Every trader has 2-3 systems which he likes.

Smart_trade

 

[Smart_trade]

@ XRAY, you were missing for last couple of days ( or may be I did not see you )....was wondering if all is well on health front...now happy to see you here...

Smart_trade

 

[Subhadip]

Though it is addressed to Subhdip, I thought it is very common to have that question in mind, so posting my views on it as under :

1) Every trader evolves from a new trader to a good trader and in that process he tries many systems and the ones he feels comfortable with , he continues with them.He modifies those systems to suit him.

2) Once a trader becomes a profitable trader, he has his best and 2-3 other systems which he does not trade but he likes them and he can trade any of them on a given day and be profitable. I trade same system from last few years but I still have few of my favourite systems .I have them on different sheets on my chart and we keep mentally checking where the other system would have given a trade. We still trade our favourite system, so having 2-3 systems does not mean one is doing system hopping ( that is done in the initial stages of a trader) Every trader has 2-3 systems which he likes.

Smart_trade

Rightly said sir.

Pivot alone is best. But it is very difficult for newcomer. For them 2MA IS THE BEST. This MAHA is good for them. As it is visually confirming.

Though I trade in pivot ways, but many twik I use. Also keep on seeing 2MA and Haikin Ashi. Just for confirmation.

 

[XRAY27]

@ XRAY, you were missing for last couple of days ( or may be I did not see you )....was wondering if all is well on health front...now happy to see you here...

Smart_trade

Thanks for the concern da !!! every thing is fine !!!

 

[c.trader]

Cover 2 bar back
Please explain this

 

[rip07]

Cover 2 bar back
Please explain this

When price stop moving in your direction and fall back/Rise in case of Up/down 2 bars/Candles one should liquidate/exit his position at that point in a timeframe, where you initiated your position. Further clarification can be provided by thread owner if needed.

Thanks
rip07

PS: @Subhadip your patience is superb. :thumb:

 

[Subhadip]

Cover 2 bar back
Please explain this

When price stop moving in your direction and fall back/Rise in case of Up/down 2 bars/Candles one should liquidate/exit his position at that point in a timeframe, where you initiated your position. Further clarification can be provided by thread owner if needed.

Thanks
rip07

PS: @Subhadip your patience is superb. :thumb:

Now two bar back exit plan:

All know rally and decline. The same concept here also in two bar back exit plan.

When in decline, think of if confirm rally I will get out. That is the exit plan.

Now question is when in decline how a rally can be confirmed. Simple when it breaks high of the two bar back then rally confirmed.

Then get out of the trade.

Hope it is clear now. If not please ask. I will answer

 

[anilnegi]

Rightly said sir.

Pivot alone is best. But it is very difficult for newcomer. For them 2MA IS THE BEST. This MAHA is good for them. As it is visually confirming.

Though I trade in pivot ways, but many twik I use. Also keep on seeing 2MA and Haikin Ashi. Just for confirmation.

haikin asahi is best but people misjudge it with its candle a HA candle can be positive despite the main candle is in negative, but it can give very good signal many a times.

 

[hmp]

Now two bar back exit plan:

All know rally and decline. The same concept here also in two bar back exit plan.

When in decline, think of if confirm rally I will get out. That is the exit plan.

Now question is when in decline how a rally can be confirmed. Simple when it breaks high of the two bar back then rally confirmed.

Then get out of the trade.

Hope it is clear now. If not please ask. I will answer

Dear Subhadip ji
Will you pl. explain it over the chart?
Thanks & regards.

 

[c.trader]

Now two bar back exit plan:

All know rally and decline. The same concept here also in two bar back exit plan.

When in decline, think of if confirm rally I will get out. That is the exit plan.

Now question is when in decline how a rally can be confirmed. Simple when it breaks high of the two bar back then rally confirmed.

Then get out of the trade.

Hope it is clear now. If not please ask. I will answer

Sir
Please explain on chart that will be easy to understand
Thanks