Steve Copan - Pivot Trader Book (2014)
What is Pivot trading is one of the obvious questions. First of all Pivot trading is what I have called this book for reasons to do with the method explained inside it and nothing to do with what traders normally consider pivot trading to be.
You can search the internet for Pivot trading and get a load of different results and most relate to pivots in price worked from an averaged price range producing support and resistance S1, S2, R1 and R2 pivot price levels that may or may not become future support and resistance, while my method in this book that I call Pivot trading has nothing to do with this.
I have written this book with the intention of creating a trading method so easy that anyone can follow, even a child could follow and I believe I have succeeded in doing that.
You do not need any special software of any kind, only a simple bar chart that can be obtained on the internet from practically any broker of spread betting company for free if you have an account with them.
You do not need any indicators of any kind as it is all done with your eyes and a calculator. There are no “maybe”, “possible” or “what if” brain confusing assumptions, just a totally pure mechanical trading method that works.
This Pivot trading method produces on average one to two trades each and every week for a 24 hour market, so this is mainly intended for the Forex market and as shown in the book on average this year the GBP/USD alone has had a 70% plus success rate.
The beauty of this method is that the potential profit on any trade will be equal to any potential loss on the same trade, so you will always know how much you can make or loose in advance with every trade placed.
All trades are placed using end-of-day data, so you can place your trades with your broker at the end of the trading day with pre-defined entry, profit and stop targets, and then you can walk away and get on with enjoying your life while the trades take care of themselves.
No method can be 100% perfect which is why there is always a pre-defined stop in place for every trade, so any potential loss trade is automatically closed with the minimum loss to your account.
This special edition Pivot Trading book has been manufactured in high quality A4 full colour format with 60+ large clear full colour charts and a number of other pictures and diagrams making it very clear and easy to read and understand.
I can not see there being any simpler or easier trading method available today that is pure mechanical and has no reliance on indicators or other systems of any kind.
The limited edition PIVOT TRADING book that was originally published in 2010 and sold out a long while ago so is not available in hardback any more, but is now available in PDF format.