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Pivot Trading

  • #14,701
  • Jan 17, 2018 7:46am Jan 17, 2018 7:46am
GM guys
Just a general refresher.When price gets rejected from 61-100 pivots often continuation down is not straight line.Its seldom that price gets rejected then bounces higher from swing high 61-100 but more common it travels away from 61-100 towards WP weekly equilibrium then if the move is stronger it drops 38 then finally opposite side 61-100.
Example NU hit 61R got rejected dropped now making typical AB=CD formation.Stay calm know that its typical way price corrections move.
We are at C on NU
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In trading, you have to be defensive and aggressive at the same time
  • #14,702
  • Jan 17, 2018 7:58am Jan 17, 2018 7:58am
Quoting Thomas88
{quote} Same here, realized i did the same mistake as before. (damn it is hard to get rid of the old practices) Yesterday i just moved my SL lvl on AU, EU, ECAD too tight, stopped out from all the positions at night (CET timezone)! Furthermore i moved the SL to a round number, Davit highlighted already, that SL hunting happens often at the round numbers, as most of the traders use them as SL I opened the positions for AU and EU again.. What a waste of capital bruhh GU, NU on the run at least.
Hi Thomas
The reason trading is tough because you are dealing with psychology of it.Anyone can click the mouse but to have control about the clicking is what counts.
Just a suggestion write on pink sticky rules that you broke and paid for it dearly and stick right on the monitor to reminds you every day what not to do.
Do it you need visual help.
regards
In trading, you have to be defensive and aggressive at the same time
  • #14,703
  • Jan 17, 2018 8:47am Jan 17, 2018 8:47am
Quoting Davit
{quote} Hi Thomas The reason trading is tough because you are dealing with psychology of it.Anyone can click the mouse but to have control about the clicking is what counts. Just a suggestion write on pink sticky rules that you broke and paid for it dearly and stick right on the monitor to reminds you every day what not to do. Do it you need visual help. regards
I will do it!

Thanks
  • #14,704
  • Jan 17, 2018 9:04am Jan 17, 2018 9:04am
From news
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  • #14,705
  • Jan 17, 2018 9:06am Jan 17, 2018 9:06am
UC what I have been reading BOC does not anticipate anymore rate hike this year.This could turn out to be sell the fact since rate hike was priced in.
Lets see next few days how USD fares.
In trading, you have to be defensive and aggressive at the same time
  • #14,706
  • Jan 17, 2018 9:08am Jan 17, 2018 9:08am
Option expires over the coming days - notables to keep an eye on

USD/JPY for Wednesday 17:

  1. 111.00 USD 531m
  2. 111.50 USD 385m


and for Thursday 19 January 2018

  1. 110.80 USD 1.4bn
  2. 111.00 USD 1.1bn


Green pips everyone!

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Plan your trade and Trade your plan.
  • #14,707
  • Jan 17, 2018 9:12am Jan 17, 2018 9:12am
watch AC
AUD next to fall
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In trading, you have to be defensive and aggressive at the same time
  • #14,708
  • Jan 17, 2018 10:47am Jan 17, 2018 10:47am
Quoting DrForexMD
Pivot Trading Nov 2017 Reference File:
Attached File(s)
File Type: pdf Davit’s Posts on his Pivot Trading thread-2017-11-Pages-140.pdf   6.6 MB | 582 downloads


Cheers all ! -John
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #14,709
  • Jan 17, 2018 10:58am Jan 17, 2018 10:58am
+102 AC
not sure about this getting out
seconds later drops
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In trading, you have to be defensive and aggressive at the same time
  • #14,710
  • Jan 17, 2018 11:07am Jan 17, 2018 11:07am
AU presents second opertunity to short...
In trading, you have to be defensive and aggressive at the same time
  • #14,711
  • Jan 17, 2018 11:15am Jan 17, 2018 11:15am
UC CHANGE IN NEWS, CLOSE LONG AND OPEN SHORT
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  • #14,712
  • Jan 17, 2018 2:00pm Jan 17, 2018 2:00pm
Update and closed UC
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  • #14,713
  • Edited 2:41pm Jan 17, 2018 2:22pm | Edited 2:41pm
That was some serious stop hunting.I believe it had something to do with Government shut down
Republicans Scramble for Unity Ahead of a Government Shutdown
https://www.theatlantic.com/politics...s-chip/550694/

Well truthfully any excuse to hummer the stops.
Actually made decent money today.
Took it on the chin 1st week of Jan then started to hummer the winners.
Yes have done mistakes this month.Could of waited 10days to see where market is heading but overall not bad regained my losses and in decent profit now.
I have faith in my system keep hammering those winners

This has been most challenging month for me.I think I speak for lot of traders.Unexpected USD decline has created sort of chaos.Well I believe US economy is sound and healthy and think USD bulls will return soon.Things go in cycles.If not then will gradually get out of my positions.Its not end of the year just beginning and we got another 11 months of trading ahead.
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In trading, you have to be defensive and aggressive at the same time
  • #14,714
  • Jan 17, 2018 2:56pm Jan 17, 2018 2:56pm
Quoting Davit
AU presents second opertunity to short...
It is, shorting AU, EU, NU.

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Fat fingers inadvertently closed my UJ long. Hate when that happens lol
Trade with confidence, trade without fear.
  • #14,715
  • Jan 17, 2018 3:01pm Jan 17, 2018 3:01pm
Quoting Cryptosurf
{quote} It is, shorting AU, EU, NU. {image} Fat fingers inadvertently closed my UJ long. Hate when that happens lol

same plus GU short too
The only thing that will make us successful is if we can control ourselves!
  • #14,716
  • Jan 17, 2018 3:34pm Jan 17, 2018 3:34pm
UJ
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  • #14,717
  • Jan 17, 2018 4:54pm Jan 17, 2018 4:54pm
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AU working out
  • #14,718
  • Jan 17, 2018 4:54pm Jan 17, 2018 4:54pm
Quoting Thomas88
{quote} I will do it! Thanks
Davit's advice was a very good suggestion, however it is worth noting that people have different dominate learning styles. Some are visual, some auditory, some kinesthetic (learn by doing) and some read/write. If you don't know what you are it's worth finding out and tailoring an aid to your style. Quick google search gives you some more info about the learning styles and how to tell which you are eg
https://www.google.de/search?ei=ZNJf....0.C9DMPNPmX48

many who love their charts could well be visual
DrForexMD who has posted many pdfs here could well be read/write.
Me, I learn by doing mostly, with read/write probably my next which goes some way to explaining why I don't post charts often (that and people have access to their own charts).
Hope for the best, prepare for the worst.
  • #14,719
  • Jan 17, 2018 5:21pm Jan 17, 2018 5:21pm
I just closed my AN and AU on the unemployment data coming out within an hr. Both were in profit and waiting to see if I get another chance to sell again from higher
I will get my head around this, but always can be wrong
  • #14,720
  • Jan 17, 2018 5:59pm Jan 17, 2018 5:59pm
Many thanx to Davit for the precious hints,
it took me a while to read most thread pages but it has been worthwhile
Having dealt with Auto System for quite some time, i had forgotten
some essential and realistic key points about currencies_
and it was nice to re-discover them on here_
Started with NzdUsd/UsdChf
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The arriving better than the arrival, the journey has just started
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