How to use daily pivot point during a strong trend
market $urvival
by simon
4y ago
Today is a 14th day when EUR/USD is below the daily pivot point. What can we learn from that? Of course, a strong sell-off is obvious here even without Pivot Points. Still, we can use Pivot Points even is such a strong trend moves like that. 1. We can reenter trade during a correction. Almost each correction up ended at the daily pivot and that was the best place to open a short position and enter the trend. 2. We can hunt for the end of the move down or a slowdown and open a reversal trade. To do that we want to see the price going above the daily pivot point and ideally correcting down, fin ..read more
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Trading during unexpected news – simple tip
market $urvival
by simon
4y ago
When there is unexpected news we see the reaction from the markets. Airstrikes on Iran can be a good example. There are a few ways you can trade during days like that. My favorite is to wait for a reversal move from one of pivot lines. We can observe some panic/stronger moves during the first minutes or even hours. Eventually, there will be a correction. That’s why I check monthly pivot lines for a possible reaction from the price. You can go simply with support/resistance zones but I prefer monthly pivots (it can be Pivot line itself or R1, R2, S1, S2…). Below you can see my trade from Friday ..read more
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Forex scalping and day trading for beginners – tutorial
market $urvival
by simon
4y ago
Basic info about day trading Scalping can be a good way to make money. Still, it is hard, but in this guide, I will teach you more about it. Remember: this guide contains ideas and information based on my experience. There is no one correct approach to scalping. Other traders may use a different set of tools, different strategies. You are responsible for your trading results. You have to take all that knowledge and test it on demo account or with smaller position size. Goal of this guide The main goal is to teach you about scalping. I want you to build (and test!) your own strategy based on i ..read more
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How to improve your trading strategy? Work on specific parts. Here’s how
market $urvival
by simon
4y ago
How to improve your strategy? Work on specific parts. Here’s what I mean. You can take part of your strategy, backtest and improve it. A quick example. My best trades come from reversal moves. I know that R2, R3, and S2, S3 lines from Pivot Points, especially weekly Pivots, can work a strong reversal zone. In the past, on many times I was right but my trades haven’t reflected that. There was no specific reason for that. Sometimes: – my stop losses were to tight and I was stopped out before the main reversal move – my entry was too late and the whole risk-reward ratio was shitty and the trad ..read more
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Need a trading strategy? Test your ideas against the market. Here are some tips
market $urvival
by simon
4y ago
Today I want to talk about the common mistake that I see among traders. You see, there are many different strategies. Some based on price action, patterns. Some based on technical indicators. The list goes on. You can catch trend with them or catch reversal moves. In most cases, traders borrow ideas from different strategies and try to build their own. Nothing wrong with that. But… They force it to work on instrument and time frame they trade most of the time. For example. Trader likes to trade on 15-minute EUR/USD. He or she will try different strategies on that 15m EUR/USD chart. In many cas ..read more
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Swing trading strategies with Fibonacci tools
market $urvival
by simon
4y ago
Introduction – about this guide Welcome to Fibonacci trading guide. Who is it for This is a guide for people with some, even basic, trading experience. I show you how can you trade with Fibonacci, but you should have some knowledge about trading. Of course, I understand that people have different backgrounds. Because of that, I try to explain strategies and trading with Fibonacci as good as I can. You don’t have to be a daytrader. You can have a job and use Fibonacci as swing trading strategy on higher timeframes. That is one of the biggest misconceptions that you have to be in front of the ..read more
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Avoid this mistake when you build your trading system
market $urvival
by simon
4y ago
Testing your strategy is very important so lets talk about that. There is one thing you want to avoid when you build your trading system. And it does not matter if you want to use it to trade manually or with robots. So what is that? Changing the rules when you test your system. I’m guilty of that mistake, too. In short, if you test your system for some time and modify too many things then it may be impossible to improve it. You know how it works. It starts small. I will change only that one parameter. Next, there are other changes. What about that and that? As a result, you started wit ..read more
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How pivot points can help you with your trading – simple Bitcoin example
market $urvival
by simon
4y ago
Reason, why I like to use Pivot Points in my trading, is simple – they work. They are in common use since 80s and to this day you can find many examples how effective they can be. Bitcoin is a good example. There was a strong sell-off on June 26th. I made a short video about it here: Look where price stopped. Exactly at monthly R3 line: If you were long, this was a good place to set your take profit order. Now we have July, new monthly pivot lines. Can you see how monthly pivot was a resistance for the price? That’s why I think that it is a good idea to check Pivots from time to time. They ..read more
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Catching bottom – long on EURUSD
market $urvival
by simon
4y ago
Very interesting trade. This is a good example of looking at multiple timeframes. Yes, you want to have information from the higher timeframe. Still, there is more to that. You want to have information from multiple timeframes and combine them together. Like Lego pieces. In this case, we saw strong support on the daily timeframe. It was tested twice before. Let’s switch to the lower timeframe. There was a head and shoulder pattern. The breakout from it was a good long entry position. We knew already that this was an important support for the price so this head and shoulder was a very strong ..read more
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