Pivot Trading

the master at work

closed NJ +1011
The reason UJ is in the zone and USD bulls look like losing steam which to me means Yen gaining.Might get back at this after Yen bulls drive it lower again

Pairs are interconnected when trading crosses always look at the majors and where there are in terms of pivots.This will aid you making better decisions

I totally disagree with you. If all this free stuff would've worked, Soviet Union would've not fallen apart. It was not sustainable economy.
You didn't see homeless people because they were hid from public eye to show that everything is so flowery in Soviet Union. You never heard about domestic violence, you never heard about raping, you never heard about narcomania etc because people of Soviet Union do not do this kind of things. Right? But it was all there, no one dared to talk about it because of NKVD or KGB. I could stay talk about it. There was so much more. It was a terror regime.
Stalin and brutal? This is not the word to describe this man. He was a monster who ruined so many lives. He killed more people than Hitler. Remember Ukrainians who starved to death because of him? This was genocide. Remember people from Baltic States who were deported to Siberia? Not to mention his own Russian people he killed. Oh man, don't get me started.

EJ breakout nice and slow...

Time to close my EU trade and relax over the weekend... Thanks for a great thread Davit.

Looks like the pair is ranging between R38-S38, I think you bought to high. Hopefully I'm wrong as it is your trades.
But then pips is pips.

Will watch it next week

Agree, but the 20 day is above 120 pips?

Hi!

This is my first post after reading for a while looking through different topics, different forex trading strategies may help me to improve in my trading. Now your approach on trading with pivot points and focus on price action behavior at different key zones like support and resistance looks like a reliable strategy to me.

I like you don´t complicate things to a max here, the charts are looking clean and easy to read without a lot of indicators messing things up.

Now before i get into some detailed technical questions regarding your strategy i would like to ask you some general things first.

1) As far as i understand you trade different currency pairs on multiple time frames, is this correct? Could you maybe summarize to me again which these are?

2) What are the trading session/s you are active and monitoring these markets. For me it would be London Open to Close (8.00 AM - 17 AM GMT +1 my local time)

3) How many hours you spend here watching multiple charts, doing your technical/fundamental analyse for these markets you trade on a daily base?

4) If you trade multiple currency pairs for e.g could you tell me which ones you have side by side on your trading platform, like EUR/USD, GBP/USD, USD/CAD... ?

5) How do you manage finding your entries here while watching multiple markets at the same time, any alerts or so you make use of? Maybe things making it more easy for you to detect possible entry setups without wasting to much time watching slow moving forex markets? Like you mentioned in one of your posts most of the time forex is in a ranging mood these days slowly moving side-ways for not even a range of 30 Pips on most currency pairs. This can often keep going on for hours before there is some news kicking in maybe giving it some momentum where price starts to move little faster and larger in one direction. So what do you do in these times? I really have a hard time here finding some balance/routine.

6) Would you recommend a beginner to only look at 1 chart and 1 time frame? If so, what market could this be? GBP/USD for e.g (besides the facts of the current brexit drama) the ATR is quiet low or what you think? How many valid setups could be expected on average here in one trading week while still making enough pips. Where to cut losers. From my own experience such swings even if perfectly entered at the right place maybe will book in 30-50 Pips before reaching the next critical point where such a swing/"trend" will start to flattening / falling back into a tight trading range again.

So without some scaling in/out techniques i guess it will be hard here to make any decent amount of pips needed to grow the equity curve by 5-10% (which would be my average monthly goal to reach) with only triggering micro lot positions. How would you proceed here to start?

What about trading full position size (1 Lot) single entry/exit with a tight stop loss for each trade as an alternative. Is a risk/reward of 1:2 at least here realistic to achieve on average with such slow/little pip movement on a daily base. So for e.g my stop loss would be 15 Pips for each trade where take profit would be 30 Pips. I guess this would be a tight stop loss and would probably be taken out in no time by the first little spike up or down.

Okay, i think enough questions for the moment. I am looking forward to your kind answers.

Thanks in advance!

Hi Egbert,

Yes. The pair is ranging for a while now. I bought at the breakout and took profits now before going back down.

My first trade going long on EU.

Price is around S38 but seems to be in a trading range between S61-S38, while could not break S61 a couple of times.

- Now i guess this trade was opened far to early. Do i need to wait until it clearly breaks such S38 level to go long here?
- What about the TDI, there is no cross here. Do you only place trades just in time where TDI signaled a cross + price is at support or resistance?
- What exactly would acting on price action means here? So i should have waited until price formed any common candle stick pattern / formation at this S38 level before any buying?
- If you place buy limits for e.g and leave the workspace you can only do that around a support or resistance level and pray you got into the right direction if it breaks out. How do you then decide which direction to go. By looking at the next higher time frames "trend" direction, is this what the TMS Angleator is there for? So my long trade her would be okay on M30 because H1, H4 shows up a green arrow?

thanks for the help

Update: Now we have this... Price obviously wants to move back to S61, the TDI Angleator H1 changed to sideways (black arrow) and now the LONG trade transformed to a minus position or maybe keep ranging up and down for a few pips around the S38?

Thanks for your interest.Before we go any further does not look like you read the 1st page.Thank you.I don't work with beginners.

Hi guys huge day for the CAD pairs.Only game today.Should the numbers print green it would be great.

I think you misunderstood my posts on the subject.I was not supporting or advocating Communism.I was sharing my early teen experience and was kind of nostalgic about it.Yes it was rotten on every level corruption rampant and some places even buying bread was a 4hr standing in the line ordeal...
Having said this socialist ideas like free health care free higher education already has been implemented successful for decades in advance democracies in Europe.
regards

Food for thought

Many years ego I worked as a waiter and sometimes on slower nights they would cut staff to 2 or 3 waiters and this is common in restaurant business adjusting staffing based on reservations.When we worked alone we competed for every customer ,stressed out if we did not get good paying customers or numbers of customers were not even and there was no incentive to help each-other since your co-waiters were your number one "enemy"
One day I told these guys how about we work as a team and share our tips.Everyone agreed and we did.We end up making more money, less stress since waiters who were not busy were helping making coffee and other tasks instead of standing around doing nothing and waiter who was being helped spend more time with the customers and that extra attention made the difference.
Now which scenario was more productive? Obviously working as a team was far superior.Well think about it it's basically a socialist idea being implemented in real time with far superior results.
It is my deep conviction that rat race of capitalism is not the answer and that's what we got now in US a rat race.

I did read post 1, could you explain what i should have missed in your opinion?

Regarding my trading experience, i opened my first live account about 15 years ago, went with several strategies up and down since there. However i never traded sucessfully over a very long period of time, you? So thats why i am here. To gain even more experience. I am running some fully automated trading systems which are doing good (about 2-3% a month) since 2016, otherwise i was very passive with any manually trading over the last 3 years, tried different concepts but none of them really could convince me from spending a lot of screen time for little to no returns which i can make easily without nothing at all having zero risk involved.

So lets me know how i can help, so you might help...

Yes i am new to this place, forum. But i am not new to trading at all.

I will answer your questions over the weekend when markets are closed.I can't now trading live and soon in 30min we are going to see real moves.
Thank you

notice guys CJ AJ are tops of their swings. I recommend not shorting these pairs but go long on dips. Commodity pairs should get a boast from Chinese talks and we are heading north on bigger trend.Buying dips only option for me.Trend is your friend applies here.

drop on EJ would be nice

Its not about indicators or pivots only.I emphasize great deal on calendar events which shapes sentiment.All data on Euro has been pretty red lately so there is no reason to buy the Euro against USD which looks pretty solid considering there is no real data release today to suggest USD weakness.