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Pivot Trading

  • #20,881
  • Jun 28, 2018 2:22am Jun 28, 2018 2:22am
Quoting bubincka
NZD extremely weak and oversold with respect to all other currencies with N pairs close to 100 level and beyond.
The rbnz decided to keep the rate unchanged. That's the weakest currency on the board right now. Nobody knows what will happen. If you have any trades open, just manage Them .
Forex is a wild wild beast. You cannot tame it. Just run wild with it.
  • #20,882
  • Jun 28, 2018 2:29am Jun 28, 2018 2:29am
Quoting bubincka
NZD extremely weak and oversold with respect to all other currencies with N pairs close to 100 level and beyond.
Since a few hours I fire short on AN
Attached Image (click to enlarge)
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  • #20,883
  • Jun 28, 2018 2:42am Jun 28, 2018 2:42am
Quoting dornachum203
{quote} I'm in a big DD because of that .. hope it will up soon.
I guess you're not alone... I'm down particularly on NU and U GDP is due in less that three hours. Anyway SL level is there, any system has losses, so no problem if it will happen-
Porta itineris dicitur longissima esse
  • #20,884
  • Edited 3:33am Jun 28, 2018 2:47am | Edited 3:33am
Quoting renkotop
{quote} Since a few hours I fire short on AN {image}
Same here but with less operations! HEHE
Building a Freedom All Time Return: 5,178.8%
  • #20,885
  • Jun 28, 2018 5:12am Jun 28, 2018 5:12am
NZD still struggling, maybe not bottomed yet, luckily I was cautious and considering the high impact news later today I entered a small number of trades to better control the (expected) DD.
Attached Image(s) (click to enlarge)
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Porta itineris dicitur longissima esse
  • #20,886
  • Jun 28, 2018 6:39am Jun 28, 2018 6:39am
Quoting bubincka
NZD still struggling, maybe not bottomed yet, luckily I was cautious and considering the high impact news later today I entered a small number of trades to better control the (expected) DD. {image} {image} {image} {image}
Time to enter additional orders!
  • #20,887
  • Jun 28, 2018 6:51am Jun 28, 2018 6:51am
Quoting renkotop
{quote} Time to enter additional orders!
Hi renkotop,

I still see NZD too weak to add trades. I entered first order on GJ, GU and EG instead.
Porta itineris dicitur longissima esse
  • #20,888
  • Jun 28, 2018 7:08am Jun 28, 2018 7:08am
Quoting dornachum203
USDX {image}
remove moving average! Last warning
In trading, you have to be defensive and aggressive at the same time
  • #20,889
  • Jun 28, 2018 7:11am Jun 28, 2018 7:11am
Quoting fibo38
{image}
remove moving average! Out of all people you should know better

Guys if you are going to do whatever you want stop posting here! or I'll be forced to remove offenders.
In trading, you have to be defensive and aggressive at the same time
  • #20,890
  • Jun 28, 2018 7:16am Jun 28, 2018 7:16am
Quoting bubincka
{quote} Hi renkotop, I still see NZD too weak to add trades. I entered first order on GJ, GU and EG instead.
Agreed. Because of this:
Quoting Davit
As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.
Watching and waiting to see if reverses.

I closed out last weeks NC but it still going south.

Attached Image (click to enlarge)
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Trade with confidence, trade without fear.
  • #20,891
  • Jun 28, 2018 7:22am Jun 28, 2018 7:22am
UC at the break of range.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_H1.PNG Size: 98 KB
Trade with confidence, trade without fear.
  • #20,892
  • Jun 28, 2018 8:12am Jun 28, 2018 8:12am
Quoting assassin85
took a fat profit from this yesterday. new day, new beginning. {image}
heavy loss taken. can't take drawdown. in short all nzd trades took a heavy beating.
Forex is a wild wild beast. You cannot tame it. Just run wild with it.
  • #20,893
  • Jun 28, 2018 8:39am Jun 28, 2018 8:39am
Quoting assassin85
{quote} heavy loss taken. can't take drawdown. in short all nzd trades took a heavy beating.
I guess that you did not set a dollar value for the unexpected swing move. that is clearly explained in the post#1.

being in DD is ok which does not mean to carry the trade beyond the acceptable loss for that trade set.

Set Acceptable DD for that Trade Set.
Set Acceptable Loss for that unexpected Swing.

I always expect trades to move 50 to 150 pips from my initial position.
newzTrader
  • #20,894
  • Jun 28, 2018 9:17am Jun 28, 2018 9:17am
Quoting newzTrader
{quote} I guess that you did not set a dollar value for the unexpected swing move. that is clearly explained in the post#1. being in DD is ok which does not mean to carry the trade beyond the acceptable loss for that trade set. Set Acceptable DD for that Trade Set. Set Acceptable Loss for that unexpected Swing. I always expect trades to move 50 to 150 pips from my initial position.
my mistake was that i chose the weak currency on 3 pairs. nzd. next time will see to it.
Forex is a wild wild beast. You cannot tame it. Just run wild with it.
  • #20,895
  • Jun 28, 2018 9:25am Jun 28, 2018 9:25am
Quoting renkotop
{quote} @Romanov102: I' ll check the pair. Is there a special timing, when they trasfer the money. Meaning, when is the spike going to happen?
It varies they get paid on the last Friday in the month so they usually start going to Western Unions etc to wire money home and the profits can go on for 2 to 5 days after payday. Most importantly you have to look at where the USD is if its at Resistance its a much more favorable trade then if it as support, and this pair is at a high on the daily chart and starting to come back down. with USD at Resistance so its more favorable. I will forewarn you it can be volatile. I entered last night after I posted just checked my account up 3,160 pips and $155. Ay Carumba!
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #20,896
  • Jun 28, 2018 9:56am Jun 28, 2018 9:56am
Quoting assassin85
{quote} my mistake was that i chose the weak currency on 3 pairs. nzd. next time will see to it.
if you must take a loss take 25% and wait. NZD is already moving up granted on turtle pace but its going higher.
Learn to take loss incrementally.

Should of held on to EC shorts....
In trading, you have to be defensive and aggressive at the same time
  • #20,897
  • Jun 28, 2018 10:00am Jun 28, 2018 10:00am
Uj having real problem going higher 110.40-50
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM30.png Size: 43 KB
In trading, you have to be defensive and aggressive at the same time
  • #20,898
  • Jun 28, 2018 10:06am Jun 28, 2018 10:06am
Quoting assassin85
{quote} my mistake was that i chose the weak currency on 3 pairs. nzd. next time will see to it.
I think you were smarter than me, Im still holding it, but im starting to reach the level where it may be a good idea just to drop, as correction have to be very huge to end up in in profit.
Good part is that every mistake makes you learn something new, bad is that they cost money!
Building a Freedom All Time Return: 5,178.8%
  • #20,899
  • Jun 28, 2018 10:18am Jun 28, 2018 10:18am
Quoting J1mm
{quote} I think you were smarter than me, Im still holding it, but im starting to reach the level where it may be a good idea just to drop, as correction have to be very huge to end up in in profit. Good part is that every mistake makes you learn something new, bad is that they cost money!
I guess what I wrote on 1st page and just 2posts above flew over your head.
In trading, you have to be defensive and aggressive at the same time
  • #20,900
  • Jun 28, 2018 10:39am Jun 28, 2018 10:39am
can you trade and repair the roof in same time?
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Take what you can, give nothing back
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