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Egbert May 14, 2019 11:07pm | Post# 30481

killed some positions part of doing business.If you dont want to get burn don't become a cook {image}
Funny when you post profits some dislikes it, and when you post losses there is none. Then just in the spirit of good faith I'll dislike it.

Romanov102 May 14, 2019 11:53pm | Post# 30482

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One more pattern came up AC H4
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Gmo May 15, 2019 5:34am | Post# 30483

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AN from 5-08 - Dilemma?
As indicated in My Calendar Analysis and Thoughts (5-12), I have held AN Short since 5-08.
As anticipated AUD News not great! All down! What will today bring (9.30pm)? Employment down too?
No China-US Trade Deal!!
AUD still not showing signs of a rally? Struggling at S38. Will it push further south?
Essentially, a Double Bottom (H4) from 5-06.
Edit: Note defense of Daily open - check M30.
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emmanuel7788 May 15, 2019 7:57am | Post# 30484

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{quote} Davit told me once, donít have a bias against something. Just go with PA. Thatís the beauty of probability. AC at major reversal point, yes of course it still have a room to go but we donít know it. We trust system and we trust PA. Trade ether works or not. Look at NZD - rate cut and yet itís still where it was. Market will do what it wants to do. Despite news and decisions. Besides that MM wants to take your money they also control balance. Overthinking killing opportunities. Just my opinion.

Here is a good book to read and learn some of the mental strategies of top traders.
Top traders know their own strengths and weaknesses, and they know how to cope with their strengths and weaknesses every day.
Do your own self evaluation and find your own solutions.

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General Lee May 15, 2019 8:17am | Post# 30485

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audcad has different pivot level. different broker
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ppxdf May 15, 2019 9:11am | Post# 30486

{quote} Here is a good book to read and learn some of the mental strategies of top traders. Top traders know their own strengths and weaknesses, and they know how to cope with their strengths and weaknesses every day. Do your own self evaluation and find your own solutions. {image}
these books are great.
in my way of thinking, as long as we do not understand the importance of doing the calendar of events all week, since fundamental movements represent so much more than our graphical analyzes.
For some who still have doubts about it, open the youtube, and type "anton kreil"
and they're going to be scared of what goes on behind the scenes in forex, in addition to what the markets makers usually does.

asgharhussai May 15, 2019 10:24am | Post# 30487

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with out any news why this spike up
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Egbert May 15, 2019 10:28am | Post# 30488

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with out any news why this spike up {image}
Picked this up.
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Hyperfire May 15, 2019 11:17am | Post# 30489

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Greeetings !
How are you guys !?

Sorry for late reply, got busy.

Here we are i will attach 2 report one of yesterday 14/05 and of today 15/05.

Yesterday was a bad day, i let my ego drive myself into deep of market, trade what you see and not what you want never forget this lesson, infact when hope start to push " one more pip and it will broke push foward to the tp " you are in the wrong way.
Never let this happend guys, so here we are i show my bad result also instead of the good one cause we always learn from mistake fail big, for push foward.
The PA yesterday show me many time to get out from my sell, react a lot of time on W61 but i was to silly for accept it and as you can see the result is a bad losses ! (i make more trade cause i was thinking yeah w61 will not hold go for it)

Today 15/05: Stick back to PA, try to follow the previous " wave market " but the W38 reject so bad, than i stick with it follow them and boom that's it ! Back in track with a good profit reducing my previous bad day into small losses.
So far so good, my day is over cause i have to go away from my computer.

Don't be afraid to take or show losses are part of learning curve, don't be afraid to let your idea go down cause ad every great trader say and also Davit say more time " Trading is matter of attention "
Stick with the rule, don't be blind and you will see the light will shine ( ahaha what a poem lol)

Thank you for your time,

Regards till next update !
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bubincka May 15, 2019 12:03pm | Post# 30490

{quote} ... in my way of thinking, as long as we do not understand the importance of doing the calendar of events all week, since fundamental movements represent so much more than our graphical analyzes...
All true.

But to complicate things now we have "T Variable", that often becomes the missing piece of the puzzle and mess up everything.

Swede May 15, 2019 12:27pm | Post# 30491

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The Calendar of Events alerts one to market action....for example this little trade provided almost 400.00 profit and there was nothing special about the trade...Cad has been unmovable, hanging around R78 for two, almost 3 days...it should have reacted to Good Green employment reports but instead weakened and just sat there. Today the news was nothing of importance overall, but it was enough when combined with US news to trigger Market Activity, and it was enough to get sellers to get on board for a nice move. I just kept taking .05 positions until I was down -$50.00 with a mental stop of -$ 100.00 if it went that far.....fortunately the sellers took over and it never looked back. My long winded point is Calendar of Events are absolutely crucial for small, safe, manageable entries at key areas....totally eliminating risk..(or keeping it small)

Anyway, my two pips for the day...
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Davit May 15, 2019 2:31pm | Post# 30492

Hi guys
USD dominating everything Yen an exception.Market still nervous about Trade wars and why AUD at 6928 can barely move in 8hrs
Trump totally messed up basically all markets and now creating conflict in Persian Gulf
This is not ideal swing trading environment.Its more USD choking everything unless some breakthrough on China or Feds take drastic action and announce rate cut to bring USD down.
This situation is not good for US economy and for that matter world economy.
Not adding new trades.Nothing looks what it should be doing...normally but this is not normal times.

Davit May 15, 2019 3:17pm | Post# 30493

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Still have AC on watch list.Historical low
The reason not touching Gulf crises may surge oil prices thus surge the CAD and also AUD looks like dead horse can't even go up 10pips on USD.
PA does not look promising for bull action here...although mighty tempting....if only AUD showed some life
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DiamondMiner May 15, 2019 3:44pm | Post# 30494

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Yeah, still have EA short that's got the tight ranging blues and AJ Long that's out of gas with same dilemma. Seems like all this crap started with the Trump-Xi Trade War. We're become the victims. Click to Enlarge

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ikdenk May 15, 2019 4:56pm | Post# 30495

audcad has different pivot level. different broker {image} {image}
This is not surprising, because weekly pivots are based on the high, low and close of the previous week.

The high and low can vary a bit from br0ker to br0ker due to spread, but it is the close that can vary markedly because not all br0kers close off the week at the same time, some stop price action five minutes before NY close, others two minutes. Combine this with huge differences in closing spread and you end up with 'widely' varying pivots.

This is why we trade pivot zones rather than defined pivot levels.

ikdenk May 15, 2019 6:40pm | Post# 30496

{quote} Here is a good book to read and learn some of the mental strategies of top traders. Top traders know their own strengths and weaknesses, and they know how to cope with their strengths and weaknesses every day. Do your own self evaluation and find your own solutions. {image}
I fully support traders trying to understand and control their behaviours.

However, a lot of these books are based on the flawed 'theory of mind', which only works in the very short term and in an unchanging environment.

The 'theory of mind' is now well and truely being dismantled by findings from neuroscience or rather what they are NOT finding in the brain: evidence of anything supporting the 'theory of mind'.

If you are interested in the details, read: How history gets things wrong by Alex Rosenberg.

Another great book by a neuroscientist AND trader is: The hour between dog and wolf by John Coates.

milicentfx May 15, 2019 7:27pm | Post# 30497

{quote} I fully support traders trying to understand and control their behaviours. However, a lot of these books are based on the flawed 'theory of mind', which only works in the very short term and in an unchanging environment. The 'theory of mind' is now well and truely being dismantled by findings from neuroscience or rather what they are NOT finding in the brain: evidence of anything supporting the 'theory of mind'. If you are interested in the details, read: How history gets things wrong by Alex Rosenberg. Another great book by a neuroscientist...

Better idea....how about reading books relating to understanding the forex market instead of books about THINKING about how to trade the market....

milicentfx May 15, 2019 7:41pm | Post# 30498

I am not at my computer, but open a GA chart and put the pivots on it....it dropped straight from WPP to the 38...this is my point....feel good psychology books dont help me trade the market....understanding the market does. I took a big chunk out of the middle of that run.

Davit, thanks for showing Pivot trading to me!

Swede May 15, 2019 8:28pm | Post# 30499

I am not at my computer, but open a GA chart and put the pivots on it....it dropped straight from WPP to the 38...this is my point....feel good psychology books dont help me trade the market....understanding the market does. I took a big chunk out of the middle of that run. Davit, thanks for showing Pivot trading to me!
You make a really good point. Focus on the pivots first, then the circumstances that brought price where it is currently. The pivots are key before anything else. You will also discover how well all the indicators made by man work well at pivot points and fail miserably at other levels. Anyway, just a thought.

MichaelG May 15, 2019 8:43pm | Post# 30500

{quote} This is not surprising, because weekly pivots are based on the high, low and close of the previous week. The high and low can vary a bit from br0ker to br0ker due to spread, but it is the close that can vary markedly because not all br0kers close off the week at the same time, some stop price action five minutes before NY close, others two minutes. Combine this with huge differences in closing spread and you end up with 'widely' varying pivots. This is why we trade pivot zones rather than defined pivot levels.
Hi ikdenk.

Just a quick note...

Candles only reflect the BID price.The spreads will not have any effect on the pivots, as the the Open, High, Low and Close.....are all BID prices.

Spreads will only affect the ASK price levels.....which aren't reflected in the candles so will not be taken into account when the pivots are calculated.

I hope that helps. Cheers.


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