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Pivot Trading

  • #23,921
  • Jan 4, 2019 12:18am Jan 4, 2019 12:18am
Quoting MrDevisen
UJ longs BreakEven. Lets wait and see how first week ends. {image}
I went into Breakeven quite early on UJ. Failed to reload more longs at a good price. Will wait for another opportunity to reload if it comes.
Wait for the system to show you the trade!
  • #23,922
  • Edited 5:44am Jan 4, 2019 2:59am | Edited 5:44am
All this recent chat about running for the hills, changing to futures, Oanda are crap e.t.c We all know the risks involved trading forex, this has happened before, so no surprise. Every time you click that buy/short button you don't have any idea what is going to happen. The key is to trade within our means. Brokers offer leverage in the hopes that retailers do the exact opposite, trade beyond their means. Even at 1:30, its insane. The recent spike should have been uncomfortable for those in trades but not account ending, in fact, nowhere near account ending!

At the end of the day, price action, pivots and Davits style of trading works. Trading beyond your means is the only culprit.

Let's continue!
  • #23,923
  • Jan 4, 2019 5:54am Jan 4, 2019 5:54am
Hello everybody,
is there a possibilty to show back weekly pivots of past weeks?
thanks and regards
  • #23,924
  • Edited 6:22am Jan 4, 2019 6:02am | Edited 6:22am
Quoting langtoni
All this recent chat about running for the hills, changing to futures, Oanda are crap e.t.c We all know the risks involved trading forex, this has happened before, so no surprise. Every time you click that buy/short button you don't have any idea what is going to happen. The key is to trading within our means. Brokers offer leverage in the hopes that retailers do the exact opposite, trade beyond their means. Event at 1:30, its insane. The recent spike should have been uncomfortable for those in trades but not account ending, in fact, nowhere near...

I read a lot on this thread and other threads, writing about leverage.

By your comments and other comments, people need to educate themselves on leverage, high leverage is a good thing, not bad.

Lets assume I'm trading a 10K account and for example, I take a 1 standard lot trade on EURUSD, my account is 1/500 leverage, the broker will only require I contribute, 180.00 margin to enter that trade.

Now, lets assume I'm trading a 10K account and I take a 1 standard lot trade on EURUSD, my account is 1/50 leverage, then I will be required to contribute,
1800.00 margin to enter that trade.

How can low leverage be a benefit to the trader??

He would have 10 times more free margin, with 1/500 leverage.

Asw
  • #23,925
  • Jan 4, 2019 6:21am Jan 4, 2019 6:21am
Quoting Asw
{quote} I read a lot on this thread and other threads, writing about leverage. By your comments and other comments, people need to educate themselves on leverage, high leverage is a good thing, not bad. Lets assume I'm trading a 10K account and for example, I take a 1 standard lot trade on EURUSD, my account is 1/500 leverage, the broker will only require I contribute, 180.00 margin to enter that trade. Now, lets assume I'm trading a 10K account and I take a 1 standard lot trade on EURUSD, my account is 1/50 leverage, then I will be required to...
Hi ASW, I am well versed on the aspects of leverage and what it means. Apologies, but its ludicrous to state that high leverage is a good thing. Unless you are a broker, they love it!

The innate use of leverage means you are undercapitalised, you are trading on credit.

I am not saying I don't use it, I do, but as I stated above, I use it within my means i.e relative to my 'actual' capital.

If you like examples, look at this scenario:

10k account, 1:30 leverage, say I am in at 1:15 (using only half), so my position size is 150K. Then there is 400 pip spike akin to what just happened. The account is down over 5K, ~50%DD. Now, you say high leverage is good? (even typing that gives me shivers). What if we take it up to 1:20, or 1:25. The account is now as valuable as a tit on a man!
  • #23,926
  • Jan 4, 2019 6:25am Jan 4, 2019 6:25am
Quoting Asw
{quote} I read a lot on this thread and other threads, writing about leverage. By your comments and other comments, people need to educate themselves on leverage, high leverage is a good thing, not bad. Lets assume I'm trading a 10K account and for example, I take a 1 standard lot trade on EURUSD, my account is 1/500 leverage, the broker will only require I contribute, 180.00 margin to enter that trade. Now, lets assume I'm trading a 10K account and I take a 1 standard lot trade on EURUSD, my account is 1/50 leverage, then I will be required to...
Generally, high leverage and novice traders don't mix well. Experienced trades understand it (hopefully) and manage risk appropriately.
Process over outcome.
  • #23,927
  • Jan 4, 2019 6:39am Jan 4, 2019 6:39am
Quoting langtoni
{quote} Hi ASW, I am well versed on the aspects of leverage and what it means. Apologies, but its ludicrous to state that high leverage is a good thing. Unless you are a broker, they love it! The innate use of leverage means you are undercapitalised, you are trading on credit. I am not saying I don't use it, I do, but as I stated above, I use it within my means i.e relative to my 'actual' capital. If you like examples, look at this scenario: 10k account, 1:30 leverage, say I am in at 1:15 (using only half), so my position size is 150K. Then there...

I still don't understand what you are saying, there is no benefit, from low leverage, you are wrong, it makes no difference to the result of the trade.

Can you explain why it is a benefit to contribute more of your free margin to a trade??

Asw

Asw
  • #23,928
  • Jan 4, 2019 6:54am Jan 4, 2019 6:54am
Quoting Asw
{quote} I still don't understand what you are saying, there is no benefit, from low leverage, you are wrong, it makes no difference to the result of the trade. Can you explain why it is a benefit to contribute more of your free margin to a trade?? Asw Asw
Forget it! Green pips to you.
  • #23,929
  • Jan 4, 2019 6:55am Jan 4, 2019 6:55am
Hi guys ment to give a updated last night on my USDCAD trade but got side track as im traveling to scotland today. The trade is in good profit so moved my stoploss to lock in profit. Last time i looked it went through mpp and is heading towards MS38.
Enjoy your weekend,
Craig
  • #23,930
  • Jan 4, 2019 6:59am Jan 4, 2019 6:59am
Quoting Asw
{quote} I still don't understand what you are saying, there is no benefit, from low leverage, you are wrong, it makes no difference to the result of the trade. Can you explain why it is a benefit to contribute more of your free margin to a trade?? Asw Asw
From a risk management perspective I can't see why any trader who wants to have a long career in this industry would use more than 1:10 or so gearing (a bit more or less in certain situations). If you turn up the leverage you would have to have super tight stops to have reasonable risk management. Stops which this week have proven mean absolute s***. Some headroom in margin is nice. Say you normally trade max 1:10 but your broker offers up to 1:50. Well there you have a bit of room if something like this week's flash crash happens.
Process over outcome.
  • #23,931
  • Jan 4, 2019 7:05am Jan 4, 2019 7:05am
Quoting Chrysmere
{quote} From a risk management perspective I can't see why any trader who wants to have a long career in this industry would use more than 1:10 or so gearing (a bit more or less in certain situations). If you turn up the leverage you would have to have super tight stops to have reasonable risk management. Stops which this week have proven mean absolute s***. Some headroom in margin is nice. Say you normally trade max 1:10 but your broker offers up to 1:50. Well there you have a bit of room if something like this week's flash crash happens.

Can you explain why it is a benefit to contribute more of your free margin to a trade??
  • #23,932
  • Jan 4, 2019 7:08am Jan 4, 2019 7:08am
Quoting Asw
{quote} Can you explain why it is a benefit to contribute more of your free margin to a trade??
No. Free margin isn't even relevant to me because I have traded enough to know how to manage risk/money properly.
Process over outcome.
  • #23,933
  • Jan 4, 2019 7:15am Jan 4, 2019 7:15am
Quoting Nik-Nyc
{quote} ... BTW, sorry for your DD, am sure you can recover with consistent trading in no time!
Thank you Nik-Nyc,

I'll recover it for sure !

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #23,934
  • Jan 4, 2019 7:17am Jan 4, 2019 7:17am
Quoting Elyes
Hello everybody, is there a possibilty to show back weekly pivots of past weeks? thanks and regards
try pivot voty available in the paperclip at top of this thread
"You know what needs to be addressed , completely completely reverse that".
  • #23,935
  • Jan 4, 2019 7:36am Jan 4, 2019 7:36am
anyone looking at potential reversal on A/N or has everyone finished on a friday?
  • #23,936
  • Jan 4, 2019 7:48am Jan 4, 2019 7:48am
Hello Traders ,
Correct , factual information is great. We learn to be better traders and it is very light to carry around.
This thread is THE BEST THREAD on the web. PERIOD !!
Points of view are fine , but , I believe that this thread is about PIVOT POINT TRADING.
Can we all stick to posts and charts that are about DAVIT'S PIVOT POINT TRADING SYSTEM , PLEASE !!!
PM your fellow traders with "philosophical points of view".

I HAVE NOT ASKED DAVIT FOR PERMISSION TO MAKE THIS POST , AFTER ALL IT IS HIS BLOOD , SWEAT AND TEARS THAT HAS CREATED THIS THREAD FOR PEOPLE OTHER THAN HIMSELF !!

THUS , DAVIT , IF YOU ARE IRRITATED BY ME POSTING THIS MESSAGE , I COMPLETELY UNDERSTAND.

We all become better traders by educating ourselves with the educational materials on this thread , and by looking at THOUSANDS OF CHARTS in order to get PRICE ACTION INTO OUR BRAINS !!!

Respectfully ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #23,937
  • Jan 4, 2019 7:52am Jan 4, 2019 7:52am
High guys
Nice gains on CAD
As the saying goes don't stand in front of the train.Instead of buying EC rather sell EC on a bounce if any so far there hasn't been.Was hoping to load up partial trades on EC I took (profits)but no bounce so far...
Still long on AN and short NC EC UC crude is at 48 and should reach 55 in my opinion natural comfy level for the industry and should get there in a month or less which case UC could reach 1.30 and EC 149-48
Fundemetals on Euro not looking good.ECB's bond buying has not had the effect it was hoping and now its really in a tough spot.Can't raise rates on slowing cycle but if they do they can slow the economy even quicker.
I am Euro bear in my outlook which means selling on bounces.Not touching EU like crosses better
In trading, you have to be defensive and aggressive at the same time
  • #23,938
  • Jan 4, 2019 8:10am Jan 4, 2019 8:10am
CJ closed +150pips. will be looking to reload longs if strength of CAD continues. I did not reload UJ longs. Have great weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 19 KB
Wait for the system to show you the trade!
  • #23,939
  • Jan 4, 2019 8:19am Jan 4, 2019 8:19am
EURCAD SELL
Attached Image (click to enlarge)
Click to Enlarge Name: Безымянный111.jpg Size: 121 KB
  • #23,940
  • Jan 4, 2019 8:21am Jan 4, 2019 8:21am
Quoting GreenEarth
Hello Traders , Correct , factual information is great. We learn to be better traders and it is very light to carry around. This thread is THE BEST THREAD on the web. PERIOD !! Points of view are fine , but , I believe that this thread is about PIVOT POINT TRADING. Can we all stick to posts and charts that are about DAVIT'S PIVOT POINT TRADING SYSTEM , PLEASE !!! PM your fellow traders with "philosophical points of view". I HAVE NOT ASKED DAVIT FOR PERMISSION TO MAKE THIS POST , AFTER ALL IT IS HIS BLOOD , SWEAT AND TEARS THAT HAS CREATED THIS THREAD...
Hi GE my Canadian friend
Your loonie is starting to gain! Nice cold winter more consumption of oil etc and USD weakening helps too.
As for method or template yes I agree staying on same template indicators is ideal but its hard enforcing everyday.Do have family and full time job.
regards
In trading, you have to be defensive and aggressive at the same time
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