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Trading With Pivot Points |
ConMan
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Joined: 06 Aug 2008
Posts: 344
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Post: #61  Posted: Mon Oct 25, 2010 11:02 am Post subject: |
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Guys, as expected its a doji ... will see you at 12...
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #62 Posted: Mon Oct 25, 2010 12:10 pm Post subject: |
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Guys
Short at 6166 ... with days high as close.... Nifty trading too close to R1 ... and this is a counter trend trade ... so taking 15 point SL for a 45-50 pts gain ...
Regards
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #63 Posted: Mon Oct 25, 2010 1:32 pm Post subject: |
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First order at 6120 done... lets see for the next lot ....
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smith06
White Belt
Joined: 05 May 2009
Posts: 12
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| Post: #64 Posted: Tue Oct 26, 2010 1:01 am Post subject: |
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Hi CB,
For the last few days, trading based on weekly pivots have been very profitable. But is it profitable in sideways and volatile markets? How long have you been trading with this method and what is your experience?
Regards,
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #65 Posted: Tue Oct 26, 2010 10:37 am Post subject: |
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Smith
Not long enough ... but around 7 months ...you will have issues with any indicator and I am sure nothing is perfect .. the key is to continue with it even after wrong trades ...
Closed my other position for a 50 points gain
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #66 Posted: Tue Oct 26, 2010 1:27 pm Post subject: |
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| Turn to play the weekly pivot now ... lets wait and watch till 2.00 pm
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #67 Posted: Wed Oct 27, 2010 10:04 am Post subject: |
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Nifty has taken support at weekly pivot point .... and has closed above it ... now we can look at going long with SL as close below PP ...
because this is a counter trend move ... keep a SL at day's low + filter
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #68 Posted: Wed Oct 27, 2010 1:39 pm Post subject: |
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| Sl of 15 pts hit...nt taking other trades as i need to step out
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #69 Posted: Thu Oct 28, 2010 2:48 pm Post subject: |
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Hi All
We need to shift our focus to Nifty-2m now ... the pivot points are completely different .. currently Nifty-2m is trading above PP of 6105 ... so if 60mins close is above the PP go long...Dont forget to discount Dojis
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #70 Posted: Fri Oct 29, 2010 9:25 am Post subject: |
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The pivot points are no more valid for Nifty-1m as the price is of Nov 10 and the PP calculation is of Oct 10 ... so try and avoid it for today ...
Try at 3.15 to guess the closing and calculate the PP for next month ... with that we can look at taking next month position with 5% as tgt ...
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twist
Joined: 12 Feb 2010
Posts: 333
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| Post: #71 Posted: Sun Oct 31, 2010 1:19 am Post subject: |
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Hi CP. can we go long on LT if the candle opens above pp on monday?
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #72 Posted: Sun Oct 31, 2010 12:25 pm Post subject: |
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Hi Twist
The idea is to go long or short only on candle close. So decide by 3.15 pm. If the candle is above or below pp only by few points, its best you ignore it. I also trade in lt-1m, shall update
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twist
Joined: 12 Feb 2010
Posts: 333
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| Post: #73 Posted: Sun Oct 31, 2010 2:53 pm Post subject: |
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ok thanks CP i got it 
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ConMan
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Joined: 06 Aug 2008
Posts: 344
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| Post: #74 Posted: Mon Nov 01, 2010 9:22 am Post subject: |
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Nifty Monthly Pivots are (EoD)
R1: 6252
PP: 6108
S1: 5901
Nifty weekly Pivots on 60mins are
R1: 6157
PP: 6062
S1: 5945 ....
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ConMan
White Belt
Joined: 06 Aug 2008
Posts: 344
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| Post: #75 Posted: Mon Nov 01, 2010 12:00 pm Post subject: |
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Nifty-1m touched the weekly R1 & has come down from that level... looks good for a short with a SL of close above R1 ...
All the bes
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