That's crazy IMO. Excessive DD's only adds harm and detriment to the psychology of the trader. ie cut your losses early.

Trading Made Simple

Wait, you're recommending people to allow a 100 pip DD on their account? Are you serious?

Trading Made Simple

This has been answered before: url Go to this link and download the PDF for crucial information: url

Pivot Trading

Davit has his fair share of detractors, who spend their days waging FF drama rather then making money off trading.

Pivot Trading

That cannot be overstated enough. There's a good clip of Tom Dante posting stats on how price will revisit the weekly open price on EU.

Pivot Trading

If you look at Deltaone’s image posts, most of his charts have pivots. Not sure what kind he’s using. And yet he talks crap about Davit’s method. Go fig.... ¯\_(ツ)_/¯

Pivot Trading

I trade it all the time. I don't really have a bias on it, but the more experienced traders have been saying "don't short index's" when they are breaking record highs almost weekly. However, I did short off the pivots last few weeks and caught the ...

Pivot Trading

Then you zoom out and watch price action into the coming week. Will it continue or change direction? See example. image

Pivot Trading

You can get it from the king of "swing failure pattern" Tom Dante: url There's also this one that was shared previously url Dante's only works on TF's under 1H, he other is visible on all TF's.

Pivot Trading

Another textbook swing failure/mean reversion at upper extremes, right off the ADR. image

Pivot Trading

That's the beauty trading this way. You can literally make just one trade a week in profit.

Pivot Trading

You would find it even more powerful if you used the template provided in the OP. Because what you have there is a mess. Plus your pivot levels are way off. Sage advise from the OP:

Pivot Trading

Textbook swing failure image

Pivot Trading

It's fine now. Your pivots look fine as well. You might also want to change the indicator elements that are black to white since you're using a black background. ADR, etc...

Pivot Trading

Use the template in the OP, then post your question.

Pivot Trading

Just keep an eye on a potential reversal. Or not.

Pivot Trading

I use an additional indicator to visualize what the 20day ADR is doing. image You can see the scale plotted for the day and where price is at within that scale range. Since Davit's method is essentially "swing failure/mean reversion" i'll want to ...

Pivot Trading

Not sure why, there will be some difference between brokers but should be fairly close.

Pivot Trading

I found myself having utilizing much less screen time, as im only looking at 61+ levels. One of the pivots indicators has push alarms when it reaches those key areas.

Pivot Trading

Thanks, it truly is next level trading!

Pivot Trading