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Pivot Trading

  • #22,461
  • Nov 7, 2018 4:03am Nov 7, 2018 4:03am
Quoting Davit
{quote} Hi friend.Obviously this guy was upset about the failed trade and thinks what he does applies to others.Does not!Week is not over yet and we trade weekly PIVOTS !You did raise key point about 100 and we got rate decision coming up which if unchanged this thing will deflate fast.If not then I will do what needs to be done that is managing my account that I SEE FIT cheers buddy
I think from years ago you recommended the book "Bird watching in lion country" which suggests having "mental stops". The funny thing is that this is a highly individual thing. While you do it with scaling in on small lots and closing them after your MM plan, it might seem to most people that you just do not put a sl and then when it does not work ... well, then what? But they ask the question too late ...
Fix up, trade sharp ...
  • #22,462
  • Nov 7, 2018 4:04am Nov 7, 2018 4:04am
Quoting huatboyz
Wish you all the best Davit, may Democrats win this !!
Could not do it in Senate but House has majority Dems little check and balance so things don't get out of control.
In trading, you have to be defensive and aggressive at the same time
  • #22,463
  • Nov 7, 2018 4:04am Nov 7, 2018 4:04am
EC around R100 area

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"In the end you only trade yourself."
  • #22,464
  • Nov 7, 2018 4:07am Nov 7, 2018 4:07am
Quoting Mundo
{quote} ...Still bearish Dollar. Holding some DD Short UC and UJ still long EU and EA...but they seem to be heading the right direction.
both UJ and UC gaining ground stay tight
In trading, you have to be defensive and aggressive at the same time
  • #22,465
  • Nov 7, 2018 4:09am Nov 7, 2018 4:09am
Its always obvious that people who complain about DD dont know much about trading and have almost zero experience.

Few months ago(with my personal style of swing trading) I held a total drawdown of 1400 pips accross 4 Positions(unexpected news while at work etc) and it didnt even make me sweat. Why? Because my RM was correct, I still had a healthy margin to keep on trading and knew the price was in a big range with having a clear exit strategy if it falls out that range.
Most of the time when people cry about DD they just use too big lot sizes, they sacrifice safety for profits and use tight stop losses in order to use bigger lots. When they see then a DD of 50 pips they cant stand the pressure, close the trade and think the drawdown was the problem, while in fact it was their RM.
At the end of the day I was back in profits after several weeks on all 4 positions(+ positive swap).
Obviously its not the goal to have big drawdown but it happens. If you think you can always take the perfect entry in a +5 Trillion Dollar Market, you're pretty naive. Trading is a short term investment and if you want to earn money you have to invest it.

Just imagine you are a Supercar Dealer and suddenly a rich Arab guy comes in and orders 20 cars which you dont have in stock. If you complain then that you first have to buy 20 cars in order to sell them with profit, then you re the same like the guy who is complaining about drawdown.



Meanwhile still studying Pivots and almost done reading every page. I hope to contribute soon. Cheers.
  • #22,466
  • Nov 7, 2018 4:19am Nov 7, 2018 4:19am
Quoting Hickson
{quote} I think from years ago you recommended the book "Bird watching in lion country" which suggests having "mental stops". The funny thing is that this is a highly individual thing. While you do it with scaling in on small lots and closing them after your MM plan, it might seem to most people that you just do not put a sl and then when it does not work ... well, then what? But they ask the question too late ...
Hi friend I do have recommended guidelines for SL and also I don't like babysitting what others do hence "This is advance trading"
If a trader does not have EXIT plan then he/she should not be here period!
Professionals always think about RISK rookies only think about profits.Takes time to switch this paradigm. I have 30k margin now but don't want to over trade! I know where I want to be in terms of comfort.I can get easily over taken by greed and find myself in margin call.Not gonna happen.I control these emotions just fine.Making 10% + a month is more then enough.
cheers
In trading, you have to be defensive and aggressive at the same time
  • #22,467
  • Nov 7, 2018 4:30am Nov 7, 2018 4:30am
Quoting ejiexe
{quote} Great work here Davit. Your system is indeed working and I am living witness. As you quickly show us the result of this EC trade which you entered not quite long and it has started growing leg(profit), can you show us your AC, NC and UC trades too since all of them are in DD for now. This is going to clear the air for those wailers questioning you how you manage situation. If people deserves to see the way your winning trades goes, I think they equally deserves to see the way your DD trades goes. Though, you have said it that you will close...
Trading is our risk. Asking others trade history is waste of time. no need to give proof to others. my trade EC,NC,AC,AN in drawdown. based on what i learnt from past four months in this forum, i can manage those trades confidently. dont have any pressure
  • #22,468
  • Nov 7, 2018 4:30am Nov 7, 2018 4:30am
Quoting Davit
{quote} Hi friend I do have recommended guidelines for SL and also I don't like babysitting what others do hence "This is advance trading" If a trader does not have EXIT plan then he/she should not be here period! Professionals always think about RISK rookies only think about profits.Takes time to switch this paradigm. I have 30k margin now but don't want to over trade! I know where I want to be in terms of comfort.I can get easily over taken by greed and find myself...
Absolutely. That is very common, people only driven by greed and ask "how could this happen?" later. For me, I go with fixed sl all the time, it does not work for me the other way. But if you can do it, why not. There are many ways in trading, you just need to have the mind to control the one you have chosen.
Fix up, trade sharp ...
  • #22,469
  • Nov 7, 2018 4:36am Nov 7, 2018 4:36am
WE may get a nice dip on EU 1450 below by Thurs in my opinion good place to build longs again to break 15+
Feds are going to stay tight in my view and this should weaken USD

Basically I am a USD bear now.Selling on every rally of USD
In trading, you have to be defensive and aggressive at the same time
  • #22,470
  • Nov 7, 2018 4:41am Nov 7, 2018 4:41am
Quoting Davit
{quote} Hi friend I do have recommended guidelines for SL and also I don't like babysitting what others do hence "This is advance trading" If a trader does not have EXIT plan then he/she should not be here period! Professionals always think about RISK rookies only think about profits.Takes time to switch this paradigm. I have 30k margin now but don't want to over trade! I know where I want to be in terms of comfort.I can get easily over taken by greed and find myself...

I agree a trading plan is important and you should know your exits, but the issue with stop losses is they can get smashed.

I've been running alerts to notify me when key prices are hit, but don't place the order to automatically trigger. Just seen my stop hit too many times.

Definitely not something I recommend if your psychology isn't strong though.
  • #22,471
  • Nov 7, 2018 4:45am Nov 7, 2018 4:45am
Quoting Davit
WE may get a nice dip on EU 1450 below by Thurs in my opinion good place to build longs again to break 15+ Feds are going to stay tight in my view and this should weaken USD Basically I am a USD bear now.Selling on every rally of USD
Would be nice because I pay most USD trading services in EUR lol ...
Fix up, trade sharp ...
  • #22,472
  • Nov 7, 2018 5:22am Nov 7, 2018 5:22am
Look at AUDNZD bounce from S138. Very cheap price.
  • #22,473
  • Nov 7, 2018 6:19am Nov 7, 2018 6:19am
EC on the Way.
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  • #22,474
  • Nov 7, 2018 7:18am Nov 7, 2018 7:18am
I am short on GBPCAD since yesterday evening ... interesting zone confirmed by PA
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Discipline and winning attitude
  • #22,475
  • Nov 7, 2018 7:19am Nov 7, 2018 7:19am
Quoting dobrakaloria
Look at AUDNZD bounce from S138. Very cheap price.

Thanks,

Do not forget it's still a down trend. I will be looking to sell at the right market conditions.
We obey the structure that results from the market's reaction
  • #22,476
  • Nov 7, 2018 7:41am Nov 7, 2018 7:41am
EC. Close partial. Rest protect
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  • #22,477
  • Nov 7, 2018 8:00am Nov 7, 2018 8:00am
EJ looking
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  • #22,478
  • Nov 7, 2018 9:04am Nov 7, 2018 9:04am
Quoting Davit
WE may get a nice dip on EU 1450 below by Thurs in my opinion good place to build longs again to break 15+ Feds are going to stay tight in my view and this should weaken USD Basically I am a USD bear now.Selling on every rally of USD
I still hold old buy from 1.1320 and a few more from various levels in zone 1.1420-1.1340 and my final target is 1.2090 for that positions, in the meantime I will continue to buy on every pull-back or retracement !!! All my old buy positions are now in positive green !!! buying brings me profit, I dont comment here but Im here always observing your great analysis
  • #22,479
  • Nov 7, 2018 12:57pm Nov 7, 2018 12:57pm
Closed the whole NC position for loss, so month start got even worse. I really can't see this stopping any time soon. NZD gets stronger and oil weakness, too much risk for me ... even if it falls after rate decision so be it, I'm out and looking for other opportunities.
  • #22,480
  • Nov 7, 2018 1:00pm Nov 7, 2018 1:00pm
Quoting 1pipperhour
closed the whole nc position for loss, so month start got even worse. I really can't see this stopping any time soon. Nzd gets stronger and oil weakness, too much risk for me ... Even if it falls after rate decision so be it, i'm out and looking for other opportunities.
nzdcad wwill come and close the gap. ALREADY OVERBOUGHT.
Keep on thinking green pips
We obey the structure that results from the market's reaction
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