My Price Action with FIFO, PVSRA, TDI, Fib and EMA Indicators!

EC:

Wed 2018-02-21 0922 (EST):

Friday 2/23/2018 1148

Why was my TPs were jumped-over during today's Red News?

* 8:30am CAD CPI m/m 0.7% 0.4%-0.4%

Was it the manually widening spreads by the Market Makers not to pay out short trades like I had for a few days ?



*
Specs Forex Factory
SourceStatistics Canada (latest release)
MeasuresChange in the price of goods and services purchased by consumers;

Usual Effect'Actual' greater than 'Forecast' is good for currency;
FrequencyReleased monthly, about 20 days after the month ends;
Next ReleaseMar 23, 2018
FF NotesThis is the most important inflation-related release due to its earliness and broad scope. This is among the few non-seasonally adjusted numbers reported on the calendar, as it's the calculation most commonly reported;
Why Traders
CareConsumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;
Derived ViaThe average price of various goods and services are sampled and then compared to the previous sampling;
Also CalledAll Items CPI;
Acro ExpandConsumer Price Index (CPI);

Perhaps, it is only possible to trade PULL-BACKS after the initial impact of the Red News Spike even it is in our direction as they will probably be jumped, just like trades at the close of the NY session on Fridays. They are jumped-over too many times and the reason many traders stay out of trading n Fridays. Beware !

+80.9 UC:

+94.9 UC:

+137.1 UC:

+266.8 UC:

Sunday 2/25/2018 1112 EST

+266.8 UC:

This week I will try to see if using Harmonics on my charts with my TDI cross arrows set on SMA 2 and 7 days, to see if this enhances the Fib (1 week) for improved predictability outside the 60-100% swing zone with my Bear short-scalping:

+5.3 GF

Monday 10-26-2018 1030 EST:

GM Friends,

I decided to focus on Davit's brilliant method of trading, but using the Pivot set at Monthly as I see it is a little more stable than setting the Pivot-Voty indicator to its default 1 week. Also, just using the Harmonics indicator does not give me as much as the Swing Zones of Davit:

+104.0 EA:

The following trades I closed out as I made the mistake of not trading in the 61-100% for either the Weekly or Monthly Pivot set Indicator. Losing trades are a way to analyze, learn and improve all skills - from poor setups to avoiding over-trading with greed.

-52.9 AC - I took trade too close to the central Pivot instead of the correct Zones noted, so I manually closed to save money:

-14.4 AU - Again, trading between 61-0 Zones instead of the higher likelihood of Swing Trades in the 61-100% Zones - so I closed manually as I use on a soft SL in my head of what is my tolerance for my equity and/or poor setup like here:

-765.0 EC - my worst loss as I took a short-trade in the wrong area and I waited too long to cut my losses.

Just below the R61% on the Pivot-Month-based or just below R31 on the Pivot set at the default of weekly - in either case I was not taking a short well into the R61-100% Swing Zones:

Hi John
Take a break clear your head.Focus on pairs you had most success.Follow those pairs only.Practice patience.Its easy presing a trade requires no effort but waiting for right set up does take effort.
Good luck.
Don't beat yourself up.Forgive yourself and learn from your mistakes.

Chapter 24
FORGIVENESS
One of the biggest problems I see with traders is that they refuse to forgive themselves for trading mistakes. This causes a much bigger problem than most people realize. You see, when you make a trading mistake, you need to forgive yourself for making that mistake.
But the thing is many people do not forgive themselves for their mistakes. In fact, they do quite the opposite. They beat themselves up and continually picture what they did wrong in vivid detail. This is the very worst thing you can do after making a mistake, trading or otherwise.
Forgiveness is a key concept in Psycho-Cybernetics. As we’ve just learned about how our subconscious works, we know that if we continually picture in vivid detail something, it causes that picture to come true for us. Or it at least makes it much more likely for it to come true. So it only makes sense that if we make a mistake, we must forget that mistake and forgive ourselves completely. If, on the other hand, we don’t forgive ourselves and relive the mistake in our minds again and again, what do you think is going to happen?
It’s obvious that we will repeat the mistake. This happens because our subconscious does not care whether we give it good or bad information, it simply sees the clear pictures we give it and tries to act it out in our lives. Obviously, it can only act this picture out if it’s within our capabilities. And I think we all know that making trading mistakes is quite within our capabilities.
This is the reason it is so important to forgive ourselves when we make a mistake or an error. If we don’t, we are likely to relive the mistake in our minds and then most likely project it onto our trading. This will cause big problems.
If you think back, I’m sure can you think of times where you made mistakes and beat yourself up for it. Not forgiving yourself, no matter what the mistake, will bring out the worst emotions. Remorse, regret, self-doubt, and guilt all come with not forgiving ourselves for a past mistake.
You’ve heard it all before. I’m sure you’ve been told to forget a past losing trade and move on to the next one. Emotions are used correctly and appropriately when it applies to something in the present time. Since we cannot live in the past, we can’t appropriately react emotionally to the past.
As Dr. Maltz says, “The past can be simply written off, closed, forgotten, insofar as our emotional reactions are concerned. We do not need to take an emotional position one way or the other regarding detours that might have taken us off course in the past. The important thing is our present direction and our present goal. We need to recognize our own errors as mistakes.
65
Otherwise, we could not correct our course and steering or guidance would be impossible. But it is futile and fatal to hate or condemn ourselves for our mistakes.”
One of the biggest reasons people get into losing streaks while trading is because they confuse their losing trades with themselves. In other words, we conclude that because we had a losing trade or a series of losing trades, we are a losing trader.
But the important thing to remember here is we are not our losing trades. Losing trades are part of trading. There isn’t a single trader in the world who doesn’t have losing trades. The only way to avoid them is not to trade in the first place. You cannot be a successful trader until you take mistakes and losing trades for what they really are. They are simply by-products in the trading game and need to be used to gain learning and understanding. But in no way do they define us as a person.
But that is where the big problem comes in. Many people let their losing trades and mistakes define them. If they’re having trouble and have had a series of losing trades, they start to think of themselves as a loser. They continually think of themselves in that way. As we know from before, this kind of thinking will just bring on more of the same.
Forgiving yourself completely is the only way to avoid this trouble. You are not your mistakes and losing trades. You must put the past behind you and go forward. Holding a grudge against yourself only hurts yourself. Forgive yourself, it’s the only way to be successful.

+29.1 UC

Monthly PVT set-up:



Weekly Pivot Set-up:



IMHO, I think taking a more conservative Swing Position using 78-100% on the Voty_PVT-Monthly would force me to be less aggressive, but possibly better wins with my personal style-psychology.

Thanks Davit ! I will do exactly as you suggested. You missed your calling as a Psychiatrist !!! Many are artistic engineers that sets them apart to see what others cannot and make jumps in finding solutions !

To "see is more important than knowledge" - Carlos Castaneda.

"Creativity is more important than knowledge" Alert Einstein.


Cheers and all the Best !

- John

Thanks John
I used to destroy my paintings drawing because they were not up to my standards but looking back I wish I kept them since those took lot out of me which lead to better paitings and drawings.

I think you are ripe to go next step in trading.What you need to work on is discretion.Be very selective where and what you trade.Trade without fear.
Being selective and being fearful is not the same.Market is neutral its neither frightening or loving.Its what we bring it to it what matters.In basic terms we trade ourselves and not the market.
You will do fine.You have paid enough to the market.Its good time you step up your game!
Cheers

OK....I cleared the board of trades with poor positions that would likely be too costly and risky on my cumulative maximal DD. And, I carefully took the best setup I could find giving me "The Edge" as I can see shorting within the R61-100 Zone, especially on PullBacks after the TDIx:

+12.0 EN



Thanks again Davit ... I will work on the discretion issue! I am sure it will help me with dating too ! (LOL)