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Pivot Trading

  • #23,941
  • Jan 4, 2019 6:30am Jan 4, 2019 6:30am
Quoting elan1988
EC started loading...... {image}
closed EC +1250.. nice start.. belated new year wishes..
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  • #23,942
  • Jan 4, 2019 7:34am Jan 4, 2019 7:34am
Elan that is a nice run! EC has certainly been running hard all week! I am at around +350 on the move and I think it is not done yet. I am taking a longer look on the Weekly chart using the Monthly Pivots. They really are a plus. I am looking at a potential 150 - 149 area so I'm holding. News is pending for CAD but I'll see what happens through Monday evening. If EC can break this 5250 area then
looks good for the 1.4950 area.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CAD news Jan 7 week.jpg Size: 26 KB
Click to Enlarge Name: EURCAD (MONTHLY PIVOT) 1-4-19.jpg Size: 445 KB
  • #23,943
  • Jan 4, 2019 9:08am Jan 4, 2019 9:08am
Quoting Rockler
Elan that is a nice run! EC has certainly been running hard all week! I am at around +350 on the move and I think it is not done yet. I am taking a longer look on the Weekly chart using the Monthly Pivots. They really are a plus. I am looking at a potential 150 - 149 area so I'm holding. News is pending for CAD but I'll see what happens through Monday evening. If EC can break this 5250 area then looks good for the 1.4950 area. {image} {image}
i ll resell again around 5350 area next week.. it will go down around 5050 area, uptrend line in day chart...... there r other trades in drawdown which i need to manage.. i could have closed AC but missed the shot.. looking for further down AC n NC also. iam keeping too much long
  • #23,944
  • Jan 4, 2019 9:24am Jan 4, 2019 9:24am
EA and UC working out beautifully! Well done to all who jumped on. Missed EA myself, dont know how, was waiting for that exact PA.
  • #23,945
  • Jan 4, 2019 9:26am Jan 4, 2019 9:26am
Quoting elan1988
{quote} closed EC +1250.. nice start.. belated new year wishes.. {image}
It's nice when it all lines up eventually but I hope you do realize that you were adding to losers in almost 400 pips range? I have no idea if this is demo or live account, if live then can you afford this kind of DD etc. This is your trade but from personal perspective this margin could have been used for better trades. You have to admit that you had no idea how far it will go. Would've you add more trades and praying it comes down eventually? Again, maybe this is how you trade and this DD was only 0,1% of your capital , I don't know but most of the retailers sitting here don't have $50 000+ accounts and need conservative MM.
  • #23,946
  • Jan 4, 2019 11:52am Jan 4, 2019 11:52am
Quoting 1pipperhour
{quote} It's nice when it all lines up eventually but I hope you do realize that you were adding to losers in almost 400 pips range? I have no idea if this is demo or live account, if live then can you afford this kind of DD etc. This is your trade but from personal perspective this margin could have been used for better trades. You have to admit that you had no idea how far it will go. Would've you add more trades and praying it comes down eventually? Again, maybe this is how you trade and this DD was only 0,1% of your capital , I don't...
i admit, it went against me. some other trades are in huge drawdown.. frankly i dunno what is better trade. everytime i enter it looks like a better entry both fundamentally and technically. as of now it working.. there was one trade EA i did two months ago which went against 500 pips but my greed not allowed to close the trade but what i did was i keep on closing the profit trades in every swing, even in the big drawdown i made 4000 points. in fact wen the trades goes against my entry iam earning more than better entry. only thing i do is open small micro lots which is helping me actually. davit method is working for me. its not a professional way but i need to improve a lot. there r other trades i need to close, once i close iam going to analyse myself n improve.
  • #23,947
  • Jan 4, 2019 12:10pm Jan 4, 2019 12:10pm
Quoting Davit
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...
Great post Davit fully agree, hope you got pleasure out of the festive season and there will be green pips all round and yes best to let the rain pass by FIRST
  • #23,948
  • Jan 4, 2019 12:22pm Jan 4, 2019 12:22pm
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[/quote]

Hi Davit ,
Actually , I am very lucky to be retired (56 years young) , and I do not have a job. Just hoping for MORE COLD WEATHER !!! Keep the OIL SURPLUS in depletion mode !! Drive that oil price higher !!
I know that you do a fantastic job of "policing" your fantastic thread. Sometimes , I feel it's incumbent upon the traders who have been so blessed to be with you for awhile to help you out , and they do. How you have managed to keep this thread "clean" from clutter and nonsensical posts are a huge tribute to the success of this thread , and well beyond my comprehension. I will never understand how I literally "stumbled onto your thread". BEST THREAD ON THE WEB , PERIOD !!!!
Glad that the loonie is gaining for all traders.

"green pips to all"
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #23,949
  • Jan 4, 2019 12:55pm Jan 4, 2019 12:55pm
Out of EU long and both GJ and AC held through the spikes with profit and minor loss.
Too bad I had to leave early today and wanted to be flat for the weekend. It was around NY open and now I see finally started to move my direction right after...

Stay small and you survive crazy moves like this week without any scratch.

Happy weekend with families and preferably without charts to everyone.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: [AUDCAD,H4] 2019-01-04 2142 Trader_long_status_later.png Size: 45 KB
Click to Enlarge Name: [GBPJPY,H4] 2019-01-04 2142 Trader_long_status_later.png Size: 47 KB
buying tops / selling bottoms
  • #23,951
  • Jan 4, 2019 2:16pm Jan 4, 2019 2:16pm
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...
you should not avoid the pink elephant in the room!Most traders worth their salt know what leverage is and its disingenuous on your part to assume we don't "

you are removed
green postures somewhere else
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #23,952
  • Jan 4, 2019 2:44pm Jan 4, 2019 2:44pm
practicing photography with my new to me DSLR.Challenge was how to take a shot in low light indoor without flash here is my setting 1/40 sec. f/1.8 50mm ISO 400 (you can add more ISO but it will also add more graininess to the image)
my nephew
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In trading, you have to be defensive and aggressive at the same time
  • #23,953
  • Jan 4, 2019 3:05pm Jan 4, 2019 3:05pm
Quoting Davit
practicing photography with my new to me DSLR.Challenge was how to take a shot in low light indoor without flash here is my setting 1/40 sec. f/1.8 50mm ISO 400 (you can add more ISO but it will also add more graininess to the image) my nephew {image}
Fun! I messed around with a DSLR a few years back and enjoyed learning about photography. Are you using a tripod or monopod at all? Its amazing what you can do with shutter speed and low light with a stable mount.
Process over outcome.
  • #23,954
  • Jan 4, 2019 3:09pm Jan 4, 2019 3:09pm
Quoting Davit
practicing photography with my new to me DSLR.Challenge was how to take a shot in low light indoor without flash here is my setting 1/40 sec. f/1.8 50mm ISO 400 (you can add more ISO but it will also add more graininess to the image) my nephew {image}
nice i'm into photography too since i got my pixel 3. do you store your work somewhere. i trying this:

https://hilmy83.smugmug.com/
  • #23,955
  • Jan 4, 2019 3:17pm Jan 4, 2019 3:17pm
Davit this may sound stupid but i am trying to make a few tweeks to my trading and i wanted to ask you what determines when you open a postion apart from the obvious pivot. Do you wait for the candle to close? Do you open postions roughly equal distances between each postion? Do you limit yourself to how many postions inbetween each pivots? e.g only open 4 postions between R61 - R38 and then another 4 postions between R38-WPP or am i looking to deep into and just go on the moment and how your feeling?

Riese
  • #23,956
  • Jan 4, 2019 3:24pm Jan 4, 2019 3:24pm
Thanks for digging it. I held it in my hand real study so as not create blur with such slow shutter speed.Its real challenging taking photos in low light.My next challenge is taking it candle lit like birthday party without flash.Flash totally ruins the ambiance.
I agree on tripod just got a real nice one. Still very much a student but love learning it.At 1st overwhelming trying to understand shutter speed ISO F stops but slowly coming together.
regards

Here is a shot of me on tripod low light
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #23,957
  • Jan 4, 2019 3:35pm Jan 4, 2019 3:35pm
Quoting RieseP
Davit this may sound stupid but i am trying to make a few tweeks to my trading and i wanted to ask you what determines when you open a postion apart from the obvious pivot. Do you wait for the candle to close? Do you open postions roughly equal distances between each postion? Do you limit yourself to how many postions inbetween each pivots? e.g only open 4 postions between R61 - R38 and then another 4 postions between R38-WPP or am i looking to deep into and just go on the moment and how your feeling? Riese
Candle is relative to TF 15-30min at key zone what I use but this is aggressive you can wait 1h close to h4 to be conservative.Its a balancing act in 4hrs price can drop 100pips like today on EC and by the time you place your short you lost good chunk of the move but it can save you money when PA is moving against you.
There is no magic number.I prefer lower TF 15-30 min works the best for me.
How many positions? How big is your account? How much risk you are taking position size is relative.I risk more because style of trader I am but you can risk less and be more conservative.What I am saying you should tailor your positions to suit your personality, risk tolerance and account size.Sounds vogue but it must be everyone is different.There is no cookie cutter answer.
regards
In trading, you have to be defensive and aggressive at the same time
  • #23,958
  • Edited 3:51pm Jan 4, 2019 3:40pm | Edited 3:51pm
Quoting hilmy83
{quote} nice i'm into photography too since i got my pixel 3. do you store your work somewhere. i trying this: https://hilmy83.smugmug.com/
Wow thanks friend for posting it!Going to take my time viewing it!I have not stored yet since I am still learning....
Only thing I can add phone cameras are limited.Its the tiny lens and so much you can do with it.
I suggest buying used older DSLR from ebay like older rebels Nikons 200 bucks.People are into newest and greatest but I bought a Canon 10megapixel D400 DSLR and super happy with the performance for 200 dollars with Canon 50mm lens which goes for 125 retail.
Anyway thanks for the link I liked the sunset ones and green tea still life.
In trading, you have to be defensive and aggressive at the same time
  • #23,959
  • Jan 4, 2019 4:01pm Jan 4, 2019 4:01pm
Quoting Davit
practicing photography with my new to me DSLR. Challenge was how to take a shot in low light indoor without flash here is my setting 1/40 sec. f/1.8 50mm ISO 400 (you can add more ISO but it will also add more graininess to the image)
Photography used to be my favorite activity before I took up trading. Having a lens with f/1.8 (or faster) is nice for shooting low light indoor without flash. A steady tripod helps, but quite often one is not available. To get steady hands for 1/40 sec or even slower shutter speed can be achieved by the photographer leaning against a wall, have the elbow against the table, or the hand holding the camera rest against some solid place. To avoid "moving" the camera when pushing the shutter button, I sometimes use a shutter release cable. Sometimes I set the camera to a self timer (5 seconds) so my finger won't be applying any force on the camera when the shutter opens and closes. (I have not tried the new shutter-less cameras). Photography is fun. You took some pretty nice pictures, Davit, especially with the depth of field showing some promise. Have a good weekend.
Bill
  • #23,960
  • Jan 4, 2019 4:04pm Jan 4, 2019 4:04pm
Just want to throw this out three. Lots of traders are very much hang up on candle close.Lets not forget Japanese candles are indicators and they take slice of time but in essence its meaningless in terms of When the market big whales place their orders creating order flow.
Order flow is what true price action is and not candle close.Its relative term traders throw around but it has its limitations.When you have watched enough chart time you can pick up order flow momentum like we saw on CAD pairs AUD and NZD pairs today.
In trading, you have to be defensive and aggressive at the same time
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