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Pivot Trading

  • #27,441
  • Mar 21, 2019 11:58am Mar 21, 2019 11:58am
Quoting ToddyS2K
EG Short {image}
I have entered in morning on R61 but look's like now has found in good rejection
  • #27,442
  • Mar 21, 2019 12:03pm Mar 21, 2019 12:03pm
I got a good catch on EU short, it could go further but I set TP and respect it, besides tomorrow PMI could support EUR.
Then I messed up things on my UJ long, it was a very timely set of entries a bit above WS100, but I made a "fat finger" like mistake setting TP and Trade Manager closed all positions for a tiny profit.
Currently holding on my NC and EC shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM30.png Size: 50 KB
Porta itineris dicitur longissima esse
  • #27,443
  • Mar 21, 2019 12:10pm Mar 21, 2019 12:10pm
Quoting Davit
Since my haters (deltaone and others)always chastise me about my trading I am happy to say my gains in forex exceeded my primary job income last year. So far this year looks like I am on trajectory to 150k+ gain They will always be dogs barking! You guys just execute the set ups.Ignore the haters
Very encouraging, wish you well on your trades to come

out of curiosity why don't you trade full time?
Freedom is an asset.
  • #27,444
  • Mar 21, 2019 12:11pm Mar 21, 2019 12:11pm
Quoting Davit
Since my haters (deltaone and others)always chastise me about my trading I am happy to say my gains in forex exceeded my primary job income last year. So far this year looks like I am on trajectory to 150k+ gain They will always be dogs barking! You guys just execute the set ups.Ignore the haters
Soon to be millionaire trader
  • #27,445
  • Mar 21, 2019 12:12pm Mar 21, 2019 12:12pm
297 PIPs this week so far from NU, EU and GU , thanks Davit and everyone in this group.
  • #27,446
  • Mar 21, 2019 12:33pm Mar 21, 2019 12:33pm
On the subject of income taxes, I'm a US citizen and I plan to open a Roth IRA. I can close out an account I have with a forex broker & open the account with a custodial firm and once that account has been opened, I can roll the funds to an FX account with Oanda. I can contribute up to $6,500 USD for tax-year 2018 ($5,500 USD if you're under 55 y.o.) if I open the account & deposit the money in the account by April 15th of this year.

Davit you might want to consider that. Plus you can make a contribution for tax year 2019 as well.

Money deposited in a Roth IRA is after-tax money so you don't get a tax deduction for it, however, you can withdraw it & not have to pay federal income tax on the money you withdraw. You have to be 59 1/2 y.o. to withdraw the money without penalties.

If you're thinking about having a source of money for retirement that you can withdraw without having to pay taxes on it, this might be something you could consider.

I'm not a financial adviser. You need to do your due-diligence prior to setting up the account.
  • #27,447
  • Edited 1:17pm Mar 21, 2019 12:39pm | Edited 1:17pm
EURUSD AND EJ made the move today. Time to start selling the crosses

Oil still in a bullish market, why i'm optimistic on cad strength

Tomorrow's calender we have EUR and CAD news dominating
  • #27,448
  • Mar 21, 2019 12:50pm Mar 21, 2019 12:50pm
Quoting 1pipperhour
{quote} Soon to be millionaire trader
Well done, keep it up.
  • #27,449
  • Mar 21, 2019 1:19pm Mar 21, 2019 1:19pm
Quoting AlexanderE
{quote} Very encouraging, wish you well on your trades to come out of curiosity why don't you trade full time?
Quoting Davit
{quote} My job is almost part time 30hrs and don't mind talking to people and have real interactions.Its a union Job which has stellar benefits and do need health insurance. On negative side I do miss set ups on US morning hours which are the best....but for time being I think I got ideal life.Trade and real job
Davit replied to that question a few posts down from what you quoted.
  • #27,450
  • Mar 21, 2019 2:03pm Mar 21, 2019 2:03pm
I observed this for awhile and see a pattern like to share

When we get a major event on Friday on currency but nothing before Friday usually it gets sold off or bought off depending on sentiment until Friday.
CAD example sold off all week and may gain tomorrow.
Example EC and NC both still have very big corrections in store.Both over 100pips
In trading, you have to be defensive and aggressive at the same time
  • #27,451
  • Mar 21, 2019 2:12pm Mar 21, 2019 2:12pm
Quoting Davit
I observed this for awhile and see a pattern like to share When we get a major event on Friday on currency but nothing before Friday usually it gets sold off or bought off depending on sentiment until Friday. CAD example sold off all week and may gain tomorrow. Example EC and NC both still have very big corrections in store.Both over 100pips
Take note Next week the sterling has no economics until friday all though this is majorly affected by brexit.
  • #27,452
  • Mar 21, 2019 3:24pm Mar 21, 2019 3:24pm
EG not so bad
CJ, AC, NC in the bag.
Attached Image(s) (click to enlarge)
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Discipline and winning attitude
  • #27,453
  • Mar 21, 2019 6:32pm Mar 21, 2019 6:32pm
Quoting Paolino
EG not so bad CJ, AC, NC in the bag.
What does in the bag mean? Closed out?

For example, NC selling below R61 and now it's above 0.92 so you exit the shorts?

Thanks
It takes a lot for me to IGNORE you, but you can try.
  • #27,454
  • Mar 21, 2019 6:47pm Mar 21, 2019 6:47pm
Quoting Erebus
{quote} What does in the bag mean? Closed out? For example, NC selling below R61 and now it's above 0.92 so you exit the shorts? Thanks
I meant the basket of opened positions.
Discipline and winning attitude
  • #27,455
  • Mar 21, 2019 7:28pm Mar 21, 2019 7:28pm
if you do not like strong emotions and do not have the very tough nerves, you should avoid GBP unless you have high probability of gain..
I prefer pairs associated with commodities, which are quieter.
A good daily analysis, is always to see the DXI.
dollar goes up, commodities go down.
dollar falls commodities rises.
why ?
as you know, it is because there are Inverse Relationship Between USD and Commodity Prices.
The US dollar is the benchmark pricing mechanism for most commodities, particularly oil. It is also the exchange mechanism in most international trade contracts for raw materials. When the value of the USD declines, it becomes expensive to buy commodities. Traders should keep a close eye on the price quotes of the dollar index, to study the USD and its correlation with commodity prices EVERY SINGLE DAY.
Attached Image (click to enlarge)
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  • #27,456
  • Mar 21, 2019 11:07pm Mar 21, 2019 11:07pm
Quoting ppxdf
if you do not like strong emotions and do not have the very tough nerves, you should avoid GBP unless you have high probability of gain.. I prefer pairs associated with commodities, which are quieter. A good daily analysis, is always to see the DXI. dollar goes up, commodities go down. dollar falls commodities rises. why ? as you know, it is because there are Inverse Relationship Between USD and Commodity Prices. The US dollar is the benchmark pricing mechanism for most commodities, particularly oil. It is also the exchange mechanism in most international...
@ppxdf nice information
Trading is about paying attention. Davit
  • #27,457
  • Edited 11:32pm Mar 21, 2019 11:17pm | Edited 11:32pm
Quoting Davit
I need help guys. If you have Oanda US or other US broker account and filed your taxes how did you go about it. Oanda does not file taxes reports on clients behalf. Just says use annul reports. 1. I need to file my taxes. How do I get the tax documents I need from OANDA? back to top OANDA does not report taxes on behalf of our clients, and as a result we do not provide any tax forms relating to profit/loss on your account (e.g. 1099-B form)....
I think I told you this before, but if you do not receive a 1099 from your broker, you do not have to report the income as taxman is not even aware that you have the unearned income. That I do not believe has changed. can go to taxman dot gov website for more info

In my previous life I was the financial IT project manager for a fortune 500 company. Who gets a 1099 was big deal as send 1099 to wrong client meant a fine from taxman. My knowledge is over 20 years dated so grain of salt

If you did get 1099, talk to a CPA immediately, like tomorrow. Taxman compounds the interest/penalty on the the 29th day of the month. CPA have best ways to get you out of jamb. You need to get the 940/941 forms filed ASAP and the deposits.

It is not easy to make money as a trader. Try to not give it all back to taxman in penalties.

You will be fine Davit. Just another hurdle to climb
Ecclesiastes 1:9
  • #27,458
  • Mar 21, 2019 11:17pm Mar 21, 2019 11:17pm
AC and NC 1hr and 4hr comparison waiting for the next move of them
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Trading is about paying attention. Davit
  • #27,459
  • Mar 21, 2019 11:36pm Mar 21, 2019 11:36pm
Quoting newbegger
{quote} I think I told you this before, but if you do not receive a 1099 from your broker, you do not have to report the income as taxman is not even aware that you have the unearned income.
This is terrible advice unless you feel like a visit from the IRS. Maybe if you make a few thousand you might get away with it for a while, but you will not forever, and definitely not if you're earning the amounts Davit does.
  • #27,460
  • Mar 21, 2019 11:55pm Mar 21, 2019 11:55pm
Quoting 1qaz2wsx33
{quote} This is terrible advice unless you feel like a visit from the IRS. Maybe if you make a few thousand you might get away with it for a while, but you will not forever, and definitely not if you're earning the amounts Davit does.
You know absolutely nothing about the tax system in the USA. I have never had a visit from the IRS and been in business for 30+ years. The taxman does not chase you down like they do in your country. The taxman in my country attaches wages, properties with court judgements

My bit of advice to you ---- do not believe every thought that comes into your head. And learn about the USA if you are trying to get in here.

No need to reply - you are ignored
Ecclesiastes 1:9
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