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Pivot Trading

  • #28,141
  • Apr 2, 2019 11:53pm Apr 2, 2019 11:53pm
AU

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  • #28,142
  • Apr 3, 2019 1:09am Apr 3, 2019 1:09am
The beauty of waking up on a profit.
Left out UJ short because still dancing close to WR78, no clear direction yet.
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Porta itineris dicitur longissima esse
  • #28,143
  • Apr 3, 2019 1:32am Apr 3, 2019 1:32am
Quoting bubincka
The beauty of waking up on a profit. Left out UJ short because still dancing close to WR78, no clear direction yet. {image} {image} {image}
Same with me on UJ and CJ
Trading is about paying attention. Davit
  • #28,144
  • Apr 3, 2019 1:34am Apr 3, 2019 1:34am
Quoting Davit
{quote} I was told by an accountant they changed the tax code for 2018 which fees are not deductible to make things worst my Broker Oanda does not send out 1099 form or any profit form and basically from their perspective IRS does not even know I have account there but does not mean they wont once you put thousands in your bank.. Have not done my taxes yet researching to find someone who understands it.So far not having luck. Problem it seems because few forex traders are profitable CPA's don't do enough if any all year to have experience.I asked...
I'm no tax expert and also don't know US tax laws but, ....where I stay I also don't get a profit form from my broker for tax purposes. Therefore I only have to (and can only) declare money that I withdraw into my bank account. In other words, the taxman only sees the profit after fees, should they ever ask me for proof by supplying them with my bank statements.

On the side, congrats to all you guys making pips out of the deals above. I am fast asleep while you guys do most of your trades it seems. I read all the posts in the morning when I get to work, but then it is between 4 and 8 hours old news. I don't like leaving trades open during the night if I can help it. Probably missing on a lot of opportunities but will probably start doing so once my money is enough to have a more worryless style of trading. I have been trading for more than two years now. I have been profitable but since I started trading Davit's method, it is like it has taken off like a rocket. My profits per week is now what I used to make in a month. Thanks Davit. I hope you get your tax sorted out.

EDIT : I started trading long before I became aware of Forex Factory. Therefore don't think the date I joined is when I started trading.
  • #28,145
  • Apr 3, 2019 2:09am Apr 3, 2019 2:09am
AU+AD
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  • #28,146
  • Apr 3, 2019 2:51am Apr 3, 2019 2:51am
Early closing ?
Yes, maybe, but ADR red and good profits in the pocket, happy with it.
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Porta itineris dicitur longissima esse
  • #28,147
  • Apr 3, 2019 2:58am Apr 3, 2019 2:58am
EU
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  • #28,148
  • Apr 3, 2019 3:04am Apr 3, 2019 3:04am
closed some positions coz was on phone, didnt know where price was in relation to pivots. There is still more room North, expecting two more pushes. EURCAD also looks ripe to go north, but because its expensive to buy it, i better wait to short it another day
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  • #28,149
  • Apr 3, 2019 3:17am Apr 3, 2019 3:17am
AC + AU.
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  • #28,150
  • Apr 3, 2019 3:26am Apr 3, 2019 3:26am
Who is still selling U/J.. lots of after the fact posts here but no early birds showing their guns loaded short U/J
  • #28,151
  • Apr 3, 2019 3:37am Apr 3, 2019 3:37am
Closed out the below.

AUDCAD
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NZDCAD
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AUDUSD
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Cheers,
Ben
  • #28,152
  • Apr 3, 2019 3:40am Apr 3, 2019 3:40am
Quoting Liem
Who is still selling U/J.. lots of after the fact posts here but no early birds showing their guns loaded short U/J
Are you in deep DD or what is the question?
  • #28,153
  • Apr 3, 2019 3:45am Apr 3, 2019 3:45am
Quoting Davit
{quote} Without anything on the line your mind is not getting any real stress which is necessary to grow as a trader. Just about everyone makes money on demo. If you are "testing "this method I find that offensive since I have been trading since 2016 successfully and may others. Like ppxdf said open small real account where you can talk the talk and your brain can process real loss and real win. good luck
Thanks for the advice Davit. I'm actually not testing this method. Ever since I discovered this in mid 2016 I have since then been studying all post from and trades from you. When 2016 ended I've finally decided that this will be my main strategy when I go love trading again. I've actually blown an account already and that really stressed me out. It was only a really small account but it was all I could afford so I still experienced the stress.

I will continue to demo trade and learn a lot more from you because as of the moment I still can't afford to open at least a $500 account. I'm not someone with a deep pocket but I'm working real hard on my full time job to earn and save for the capital. In my country $1 = 52 in our currency. Doing the math will show it's a lot of money. I will earn that $500 slowly and surely. I'm actually glad I'm someone who doesn't have a lot money to put in trading. If I were I would've blown countless accounts .

Whenever I have my spare time I will keep on studying and learning so that when the right time comes I am fully ready. 2 years of following your thread and strategy, practicing and demo trading on my spare time has been a great journey for me. Thanks for everything you're sharing here.
Patience and Discipline, these are the Holy Grail.
  • #28,154
  • Apr 3, 2019 3:48am Apr 3, 2019 3:48am
AUDNZD
Original entry 3-27-19. Held over weekend. Davit has also reported this trade he has held over the weekend.
Yes, Stops placed to cover some positions for Sunday & Monday News.
Exited today 4-03-19 +789.2 at 2nd touch of R61. Content with this gain.
However, with the positive AUD News Tuesday together with CNY positive News and China-US Deal in progress this week I will look to buy dip as AUD should push through R61??
Consolidation below Resistance (R61) is a Bullish sign - similarly, Consolidation above Support is a Bearish sign.
The Market will decide!
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  • #28,155
  • Apr 3, 2019 3:51am Apr 3, 2019 3:51am
AC turned out nice while UJ still underwater, but that's trading, eh?
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You NEVER will be the person you could be, without pressure & discipline
  • #28,156
  • Apr 3, 2019 3:53am Apr 3, 2019 3:53am
@bubincka
i would like to give Davit Trade Manager V1 a try. Could you be so kind and tell me your settings for this EA?If not...is there an explanation of the parameters for the EA somewhere? Thx in advance
  • #28,158
  • Apr 3, 2019 4:04am Apr 3, 2019 4:04am
closed AC
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In trading, you have to be defensive and aggressive at the same time
  • #28,159
  • Apr 3, 2019 4:15am Apr 3, 2019 4:15am
Closed EU
rather be flat on NFP in case this tanks to 1150 or lower
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In trading, you have to be defensive and aggressive at the same time
  • #28,160
  • Apr 3, 2019 4:15am Apr 3, 2019 4:15am
Closing my EU trade now. Price in the strong zone S38, S61. Looking left the area is a strong support too. PA + pivots. After 2 years of studying and practicing this strategy I have began to develop my own personal style to this method. I used stop orders instead of limit orders. This way I will have to wait for price to get in the zone and wait for reactions before putting the orders. If price starts moving in the right direction only then the orders will get filled compare to limit orders that get filled while price is moving in the opposite direction. This requires more patience and I'm much comfortable doing it this way.

For this EU trade I only started putting in the buy stop order in the highlighted area where I saw price was already reacting. Come Friday or next Monday I may start putting in sell stop orders for UJ as it's already in the strong area but most importantly I'll wait for the NFP and unemployment data release so I can make a much better trade decision.

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Patience and Discipline, these are the Holy Grail.
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