Pivot Trading- a new way of Trading

[anilnegi]

Anil bhai mark minor pivot highs and lows, visual pivot highs and lows. all pivots on a 15min chart are visual pivots(good for beginners like me. then mark early reversal line ERL. enter at break of visual pivots and trail your stop loss to successive minor pivot lows (if you are in an uptrend, vice versa for down trend), exit when minor pivot low is violated on downside (if you were in uptrend) or when a candle closes at a visual distance below ERL (if you were in uptrend).

yes bhai but first i want to clear about vpl/vph, thanks for suggestion:thumb:

 

[vivektrader]

HELP needed from enlightened seniors:
I am posting a chart of AXIS bank futures, it opened gap up with yesterday's visual up, i waited till it formed a minor pivot high over first bar, I located an inside bar (marked as F1) above the minor pivot low and went long over high of this inside bar with SL at minor pivot low. It flew for a little while and then crashed in my balcony and hit my SL. I reversed the position and went short at break of pivot low but I covered my position when a candle closed inside the range. Please answer my few queries:
1. Is my entry of long ok?
2. Should my SL have been low of inside bar?
3.Is my exit of long too late?
4.Is my entry of short ok?
5. Is it a double breakout failure, breakup and breakdown?
Please view the chart
http://imageshack.com/a/img912/9157/Xy59da.jpg

thanks and regards

 

[niftytaurus]

HELP needed from enlightened seniors:
I am posting a chart of AXIS bank futures, it opened gap up with yesterday's visual up, i waited till it formed a minor pivot high over first bar, I located an inside bar (marked as F1) above the minor pivot low and went long over high of this inside bar with SL at minor pivot low. It flew for a little while and then crashed in my balcony and hit my SL. I reversed the position and went short at break of pivot low but I covered my position when a candle closed inside the range. Please answer my few queries:
1. Is my entry of long ok?
2. Should my SL have been low of inside bar?
3.Is my exit of long too late?
4.Is my entry of short ok?
5. Is it a double breakout failure, breakup and breakdown?
Please view the chart
http://imageshack.com/a/img912/9157/Xy59da.jpg

thanks and regards

Hi Vivek
Though I am not senior trader..
but I am posting chart how would I have traded this scrip..

hope it helps you..
but I can share few of my thoughts about trading what ever little I experience in my trading learning journey which is still continue..
1) there is nothing wrong/right in trading..you just need to make ur own rules & follow them
2) you should make rule first & follow them..but with experience & screen time, you will come to know how to break them for profit also
3) NO METHOD, NOBODY & NOTHING is 100% perfect in trading
4) price action trader needs to see lot ofchart & should give more to screentime..I have read in some trading book, one ultra success trader says, you need to be spent 10,000 hours screentime, then u will be a good trader..dont be afraid with this figure..every journey starts with a small step..
5) watching chart & live market...seeing creating a new 3 min candel is journey worth travelling..as I am tellign fro my experience..i have read hundred of books & backtested several of method..but nothing help
when I stopped reading books & start watching chart..my real learning start & it a jump in my trading...it doesnt mean we shouldnt read books..ofcourse, we should learn new things which helps in trading..b
as trader evolute with every day.
but there is no substitute of watching charts & spending time on screen
hope it helps
all the best

 

[vivektrader]

NT sir, accept my sincere gratitude, you painstakingly took time to mark the chart for me, you are an able senior who is trying to guide beginners like me.
Please clarify where should I have exited my long trade if I had entered as per my marking on 5min chart.
Thanks again
Regards
Vivek

 

[vasan56]

Hi everyone,
I have read the mph,mpl,vph,vpl several times and understood them.But whenever it comes to marking,I feel difficulty and not able to mark them correctly.Can anyone mark these in 15 m and 5 min nifty chart to understand better? Please help.Thanks.

 

[manoj2012]

Hi Experts,

Can someone share the AFL to mark Minor & Visual Pivots on Amibroker charts as given in this image-

THANKS

 

[anilnegi]

Hi Vivek
Though I am not senior trader..
but I am posting chart how would I have traded this scrip..

hope it helps you..
but I can share few of my thoughts about trading what ever little I experience in my trading learning journey which is still continue..
1) there is nothing wrong/right in trading..you just need to make ur own rules & follow them
2) you should make rule first & follow them..but with experience & screen time, you will come to know how to break them for profit also
3) NO METHOD, NOBODY & NOTHING is 100% perfect in trading
4) price action trader needs to see lot ofchart & should give more to screentime..I have read in some trading book, one ultra success trader says, you need to be spent 10,000 hours screentime, then u will be a good trader..dont be afraid with this figure..every journey starts with a small step..
5) watching chart & live market...seeing creating a new 3 min candel is journey worth travelling..as I am tellign fro my experience..i have read hundred of books & backtested several of method..but nothing help
when I stopped reading books & start watching chart..my real learning start & it a jump in my trading...it doesnt mean we shouldnt read books..ofcourse, we should learn new things which helps in trading..b
as trader evolute with every day.
but there is no substitute of watching charts & spending time on screen
hope it helps
all the best

hello niftytauras

i have seen your chart in many places you have market pl/ph with only one down bar or one up bar and in start of this thread subha commented that the ph and pl sould have atleast two subsequent down bar/up bar

pls clarify

thanks

 

[vishnu_1990v]

vasan56,
On 5min chart with markings of mpl mph vpl vph.
http://i.imgur.com/ieOlTIy.png
vishnu_1990v
---------------

 

[vishnu_1990v]

Subhadip Da,
Thank you.
http://i.imgur.com/tbA3d3L.png
vishnu_1990v

 

[niftytaurus]

NT sir, accept my sincere gratitude, you painstakingly took time to mark the chart for me, you are an able senior who is trying to guide beginners like me.
Please clarify where should I have exited my long trade if I had entered as per my marking on 5min chart.
Thanks again
Regards
Vivek

Hi Vivek
its ok friend! any time!
as i told in my view, nothing is right/wrong..same kind of question I have asked in starting of my learning to our dear ST da..he gives me a very beautiful quote"you can not keep & eat cake at same time"..
In starting, you have to follow rules..you should exit as per your rule..if your rule says,exit at minor pivot..exit at minor pivot..you exit & then no regret..
in starting you have to follow rules consistently..
after lot of sceentime experience, you will learn automtically, when to put it on minor pivot & when on candels..
in hind sight, in EOD chart, we can think..would have, should have & could have options ..but in live trading you have to have some rules& follow it..
suppose, you think you shold have exit on candel low break..then sometimes you will see, price breaks candel low & you get out but it doesnt touch your minor pivot..& go again in ur direction..& you missed profit..
So in starting, you have to make some rules & follow it consistently..with more screentime, you will learn more aspects..
hope you get ur answer..
if not you can again ask ur queries
thanks