Pivot Trading

Me as well I really like the entries from Wednesday long term

I've done some custom update in source code ...
You can show new detailed columns by simply set input parameter "showDetails" to true.
I share it.
See attachment.

I am a "he"

It's Friday...relax!!! Go get a beer, a BJ, and chill...you barely contribute here and now you are policing the thread?

Post was more about the humor part "...I guess he got tired of having the rest of the NFL as his bitch..." but I have to agree US tends to screw whomever they no longer need.

Thank you!

BJ sounds like a hyper pair. Best not to trade pivots with it.

Any chance you could tweak the source code to show maximum DD on each trade and overall max DD?

Now THAT would be awesome.

Thanks for sharing.

Davit,
I am not new to trading but I am new to Forex as of a few months ago. I have studied countless hundreds of hours in a short amount of time trying to grasp the concept of currency trading. I have been reading all kinds of threads here on FF and I have downloaded and tried about a zillion indicators and kept thinking that I had found the perfect setup, meanwhile, I kept gaining and losing, mostly small gains and bigger losses. I didn’t blow up my account or do anything stupid like that but I couldn’t gain serious traction. I would slap indi’s on my charts and then feel so much better when I would take them back off and be able to see price action more clearly without their distraction.

I have been reading your thread but it wasn’t making any sense to me. You would kick people out of the thread for things I couldn’t understand and most of what you guys were saying just sailed right over my head. BUT, you’ve been consistent here and have given selflessly and I continued to read and learn quietly because I knew you had an insight on the market that I was determined to learn even though you said it was advanced and I’m obviously a novice. This week it finally came together for me. I had some losses but I had massive gains not only in pips but in insight. People are always talking about 20 pips a day. In the beginning, I would have killed for 20 pips a day. This week I learned how to rip out way more than that every day. Way more!

Keeping clean charts with your pivot points is just brilliant. Please continue teaching us. Show us your pips/profits if you feel like it…. it motivates me. A million thanks for the time you’ve invested here freely for all of us!

I'll be looking @,

1. Allot of USD news
2. Carney speaks
3. Powell speaks
4. CAD
5. 1+1=not so simple

Now it's time for me to say Thank you, Davit!
Here's my stats for this year:

Pivot trading is an awesome strategy! It works & pays money)
I modified your method to my personal issues but the core of the system is weekly fib pivots & your trading ideas.
I followed your advice to pick several pairs & master them.
Here's non-loss wininng streak on USDCAD since the beginning of the year.

Thanks, Davit, for all you have done here on FF & particularly for me and for my trading!

My attempt at next week's calendar events. The main events to monitor (in my opinion) is the ongoing trade talks between US and China, plus Brexit.

MON
1) NZD Retail Sales and Core Retail Sales - both projection is better than previous. If green means NZD may strengthen. If red then a sell.
2) GBP BOE Gov Carney Speaks - with Brexit very near, personally I will stay away from GBP for now.

TUE
1) GBP Inflation Report Hearings - the effect of Brexit on the economy means uncertainty for me.
2) USD CB Consumer Confidence - positive news on the trade talks with China may give a boost to USD
3) USD Fed Chair Powell Testifies

WED
1) CAD CPI m/m - if this paint green means CAD may go strong. Will monitor USD/CAD.
2) USD Fed Chair Powell Testifies

THU
1) NZD ANZ Business Confidence - if this paint green, along with green data on retail sales, NZD may gain.
2) AUD Private Capital Expenditure q/q - projection is positive compared to previous. Positive trade deals between US and China will strengthen AUD.
3) EUR German & French Prelim CPI m/m - overall expecting EUR to stay weak, will monitor PA before news release as projection is better than previous.

FRI
1) USD Fed Chair Powell Speaks - will watch if any hint of increase on interest rates.
2) CAD GDP m/m - could be green in which case will look at UC shorts.
3) USD ISM Manufacturing PMI - trade talks with China will play an importance here.

Two Hidden Virtues of Successful Traders

One of the most interesting aspects of working as a trading coach is the ability to see, first hand, what contributes to the success of traders. So often the factors that lead to success are not those emphasized in mainstream articles and books. Here are two unappreciated virtues I see among successful portfolio managers and traders:

1) The ability to tolerate uncertainty - Suppose you take any particular configuration of price in a market; say, trading x% above or below a Y period moving average. Then look at what that market does on average over the next Y period. The odds are great that for any value of x and Y, the market's directional tendency will be swamped by the variability of price within that next Y period. What that means is that, on average, the signal to noise ratio for a directional trader is low. Whatever directional tendency is present is generally not statistically significant and not readily tradeable. Given such a situation, the modal opinion of any trader should be "I don't know". Uncertainty is itself a view and, in fact, should be one's base case. When a trader cannot tolerate uncertainty and needs to manufacture conviction, the result inevitably is overtrading the objective opportunity set. It is impossible to properly manage risk if you are intolerant of uncertainty.

2) The productivity of time spent away from trading - I consistently find that successful traders spend more time identifying good trading opportunities than actually putting on and managing trades. Csikszentmihalyi conducted a fascinating study with artists in which they were shown 27 objects and asked to arrange a small group of them into a composition and generate a sketch. They had one hour for the task. The artists fell into two categories. One group quickly identified the objects for the composition and spent the better part of the hour refining their sketches. The second group spent most the hour figuring out what to draw. They selected objects, started sketches, changed the objects, sketched some more, rearranged objects, etc. By the time they found the composition they liked, they spent only a few minutes on the final sketch. The drawings of the second group were rated as significantly more creative by a group of art critics than those of the first group and, after a five year period, the second group demonstrated significantly greater success as artists. The less successful artists spent most their time sketching. The successful artists spent most their time finding compositions worthy of sketching. It's a great analogy for trading.
Good things happen when these two strengths come together. The ability to accept uncertainty frees the mind to maximize time away from trading and creatively generate sound trade ideas. For the successful trader, uncertainty provides the opportunity to get away from screens and look at markets through new lenses. Overtrading exists when the need to trade exceeds the need to understand.

By Brett Steenbarger, Ph.D.

Snail 69
Thank you Snail 69,
Introduced to Brett Steenbarger in 2001, he has a host of very readable articles. He is an adjunct to Mark Douglas.
Visit: http://www.brettsteenbarger.com/articles.htm (Not https - ? security)

Great share, thank you so much!

Some will say I don't post much anymore and that is true for whatever reason ... but Pickles why are you here? You have made what ... 40+ one line posts (lifetime total 54) in the last 24 hours with your xxxx% tag, no real contribution or post about Pivots just an attention seeking one liner.
I may be wrong but you and your pic look like the Pied Piper (Google) ... if I am wrong apologies ... but after so may years of detecting potential online scams I doubt I am wrong ... so please prove it with charts of your Pivot trading and explanations and I will publicly apologise.

How was what I posted "an attention seeking one liner"? I enjoy reading the forums, thread to thread. I like what Snail69 posted and thanked him for it, that is all. If it irked anyone, I apologize and I can refrain from posting here if Davit is not happy about it. It's weekend, chill. I'm just here to read and eat cotton candy.

PS: My picture is a character from a chinese novel, not Pied Piper.

no, youre a scammer and no,thats Pied Piper no chinese character thats it ,now prove with pivot charts.
ohhh wait! wtf to prove?aaaaaaa i forgot hahahaha

PIF did you had ... a bad week ? chill out bro.

Portugal is awesome country. Very friendly, excellent food and good weather. Love live it here.

Calendar for the next week.

Monday


Not much going on on Monday. Carney speaking due to press conference in London. I do anticipate more dovish stance but as I'm still not trading GBP I really don't care atm what he has to say. But I am waiting what happens to Brexit. MP's say that Brexit must be postponed when EU will not agree more appropriate agreement. So if they don't want to postpone Brexit, the agreement must be concluded this week. Much unlikely EU agrees to reopen negotiations. But expecting unexpected, very interesting indeed.

Tuesday


GBP inflation report hearings. As already mentioned I will not turn much attention to GBP as I don't want to take quick trades (scalps), not my style.
USD CBS Consumer Confidence anticipated green. Well, the whole week is full of USD, lots of news and Powell, so I'm not that sure what to expect from USD and because of that I won't trade USD much and will concentrate more to crosses.
Worth to mention that NZD Trade balance considered red. Later on Thursday ANZ Business Confidence. I anticipate that it will be red also. NZD got some beating this week but recovered quickly. So here could be some opportunity to short NZD again. Definitely watching. I like where AN is atm, so there could be possibility for another long.

Wednesday


Lot's of CAD news here. CPI green. Could be mixed bag, so watching where it takes us. EC near support. As much I don't like to long this pair, I have to admit that there could be nice opportunity for long. If you look at oil you see that it may face some resistance, so CAD short is an option.
Yeah, Powell again. Well, what ever, speaking at some dinner event but could move the market anyways.
What I really want to bring out is AUD, Construction work Done q/q considered green. Could really happen. Also Private Capital Expenditure q/q anticipated green on Thursday, so I'm keeping my EA short (which has become more like an investment not a trade ). I have milked it couple of times this month, hope to continue. Also AC long could be an option here. Really like where price is.

Thursday


Already mentioned ANZ Business Confidence, I anticipate red.
Also mentioned AUD Private Capital Expenditure, holding on to AUD longs (EA short) and looking to long AC.
Mixed bag for CAD, watching if it helps to long (or hold long) AC or not.
USD Advance GDP anticipated red, not trading USD this week, too messy.
End of month.

Friday


Powell eating and having a speech at the same time again. Bon appétit. Friday could be interesting, maybe I can profit from MM profit taking. Lots of USD news. May get some opportunity to trade USD at the end of the week, but only "maybe".
CAD GDP considered green. Taking action depending on if I'm in any CAD trade or not.

First time ever I do my calendar and I've found it way more difficult then I tought...
Took me about 2 hours and I'm not that confident about it but with practice it will be come easier.

Sorry for my choppy english, feel free to comment, any help here is appreciated


Last week of february, massive profit taking by MM is expected


Sunday
___________________

4:45pm NZD Retail Sales q/q
0.5% 0.0%
NZD
Core Retail Sales q/q
0.8% 0.4%

Retail sales on a downtrend since May 2015, I expect neutral and/or red numbers here wich should push NZD down


Monday
___________________

5:00am GBP
BOE Gov Carney Speaks

GBP moved up in the beginning of last week then ranged and started falling friday, dovish speak here will move this down further
and even if hawkish speach I see this as a non-event, market will prefer to wait for inflation report to take decision


Tuesday
___________________

5:00am GBP
Inflation Report Hearings

People from the BoE are aware that the inflation rate is going down since late 2018 peak and I see this hearings pushing GBP down for the rest
of the week


10:00am USD
CB Consumer Confidence
124.3 120.2
USD
Fed Chair Powell Testifies

USD had it rough last week and any positive tone and/or news from the trade talks with China will push USD up
Could be great to sell EURUSD and GBPUSD and getting better price to sell USDCAD later

Wednesday
____________________

LOTS of news on wednesday, expects lots of volatility and wait for the bets prices/locations, could be wrong but this could be an excellent day to
buy CAD

8:30am CAD
CPI m/m
0.2% -0.1%
CAD
Common CPI y/y
1.9% 1.9%
CAD
Median CPI y/y
1.8% 1.8%
CAD
Trimmed CPI y/y
1.9% 1.9%

Any green numbers here will be great to sell any CAD crosses, if so, will look for the better prices according from Pivots location

10:00am USD
Fed Chair Powell Testifies

???

7:00pm NZD
ANZ Business Confidence
-24.1

Business Confidence shows some uptrend so I think that if NZD has a tough start of the week it could bounce here

7:30pm AUD
Private Capital Expenditure q/q
1.1% -0.5%

Even if forecast looks good from previous report, last 4 reports where red numbers, could start a downfall for AUD for rest of the week


Thursday
___________________

USD
Advance GDP q/q
2.6% 3.4%

8:15pm USD
Fed Chair Powell Speaks

Don't know what to thinnk about these 2 but something to be aware is the end of the month wich could see a lot of profit taking...
Possibly a turning point for the new month


Friday
___________________

8:30am CAD
GDP m/m
0.0% -0.1%
USD
Core PCE Price Index m/m
0.2% 0.1%

USD
Personal Spending m/m
0.3% 0.4%
10:00am USD
ISM Manufacturing PMI
56.0 56.6
USD
Revised UoM Consumer Sentiment
96.1 95.5

Couple news here to be aware of but after the big wednesday/thursday volatility and profit taking, I expect this to be a quiet and ranging day