How to improve your trading performance?
My answer is always the same:
Add Pivot Points to your charts.
In Pivot Point Trading Strategies I teach you how to build an effective trading systems based on Pivot Points.
FIND YOUR EDGE WITH PIVOT POINTS
Pivot Point gives you valuable information about support and resistance areas.
But what's the best place to open a position? What's the best place to close it? How to manage risk?
That's why you also need a trading system so you can use Pivots efficiently.
You'll find all the answers in this guide.
The guide is divided into few main sections:
- Pivot Points - Introduction (so we can start with the same knowledge)
- Opening positions with Pivot Points - trend trading - strategies
- Opening positions with Pivot Points - reversal trading - strategies
- Closing positions with Pivot Points - taking profit strategies
- Risk management
The guide has a very practical form.
You'll learn how to trade with Pivot Points - how to read market, when to open position and take profit, where to place stop loss.
You'll get more than 100 pages full of strategies.
FOR WHOM IS THIS GUIDE
For those who want to improve their trading strategies.
For traders who have problem with getting consistent trading results.
For all people looking for best trading strategies that can help them make money.
This is not a guide that teaches trading from scratch. You should already have some basic knowledge about trading.
On the other hand, you don't need to have some advanced knowledge. I show you step by step how to build strategies based on pivots.
Different traders have different preferences. Some prefer to use only price action; others don't mind using oscillators. In this guide, I'll show you how to combine different strategies with Pivot Points. Everyone should find something for themselves.
Strategies that work!
In all of my trading systems, I use pivot points. I trade manually, and I build trading robots. In each approach, I use pivots.
In the past, I was testing many different strategies. But when I started to build simple trading robots, I was able to test more systems simultaneously.
The conclusion was simple - it was easiest to get consistent results with Pivot Points’ strategies.
Below result from one of my trading robots:
Of course, it’s not a straight move up to the north. Still, in the long term, you can make money with pivots.
THE BIGGEST ADVANTAGES OF USING PIVOT POINTS
Let's start with the most important one - you know what's happening on the chart.
You know what stage the market is in. Is the chart screaming sold out with the price near important support S levels? Or is it overbought and strong resistance R2 and R3 are close by?
You can use that information to open a trade at best possible place (sometimes almost right at the start of the new move).
Pivot Points helps you to choose the best place to close the position and take profit.
What matters in trading is whether you closed trade with a profit or not. With the help of Pivot Points you'll be closing trades in better places and making more money on each profitable trade.
The old saying trend is your friend is still valid.
However, markets are changing, thanks to increasing automated trading, among other things.
You need to adjust your strategy and use tools that work in current conditions.
With Pivot Points' help, you can participate in reversal moves - join them practically at the beginning and take most profit from the movement.
You can also use them to catch trending moves (so more classical approach).
Pivot Point is the modern tool that'll help you build a strategy working in current markets.
DIFFERENT MARKETS - TRADE WITH PIVOT POINTS: COMMODITIES, STOCK MARKET, FOREX
You can use Pivot Points on practically every market - commodities, stock market, FOREX.
In this guide, most examples are stock indices and FOREX because that's what I mainly trade. However, the trading rules apply to all markets. They may require small modifications, but I also discuss and explain how to adjust them to the market you're trading.
PIVOT POINTS NOT ONLY FOR DAY TRADING - SWING TRADING ON HIGHER TIME FRAMES
Most often, Pivot Points are used in day trading simply because they work so good.
However, they can also be used in swing trading or long term trading.
You'll find Pivot Points adapted to every kind of strategy:
- daily Pivot Points - for day trading strategies, when you trade on shorter time frames (5m, 15m, 30m, 1h)
- weekly Pivot Points - for swing strategies, when you trade on time frames such as 1h, 4h, daily
- monthly Pivot Points - for swing trading strategies, long term trading strategies, when you trade on longer time frames such as 4h, daily, weekly
Pivot Points are a valuable addition to virtually any investment strategy.
They can also be a solid fundament to build a new strategy from scratch.
WHO IS THE AUTHOR?
Hi, I'm Simon David and I'm a retail trader.
In my trading, I focus on building solid strategies and using proper risk management.
Trading is my way of making money but also a hobby. I like to share knowledge with others; that's why I run a blog pivot-point-trading.com.
Most strategies on the Internet show only the tip of the iceberg when it comes to Pivot Points' capabilities. Hence the decision to write this guide.
Everything has changed since I added Pivot Points to my charts.
My results, my understanding of the market, my confidence. My risk management.
But it took me many years to test different strategies and ideas.
Now I know what's working and what's overrated.
I share that knowledge with you hoping that it'll bring you so much change in your life as it did in my.