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Pivot Trading

  • #29,121
  • Edited 3:19pm Apr 18, 2019 3:08pm | Edited 3:19pm
Quoting Davit
{quote} If you don't mind sharing what's your take on it would be great thanks
Davit, now realizing there are big gulps and there are small sips. All gulps and sips add up to $$$$ at the end of every week or month. It doesn't matter if it's a gulp or a sip. Win the battles you can, big or small. Engage when your analysis is right by checking multiple time frames for opportunity. Though your trade was short lived in time the profit was great, maybe in and out then search for the next opportunity isn't a bad idea as well? Basically, I look at all your trades when you probably got in and out and the why you exited the trade as well. It's all part of learning.
You NEVER will be the person you could be, without pressure & discipline
  • #29,122
  • Apr 18, 2019 3:11pm Apr 18, 2019 3:11pm
Quoting Davit
{quote} 10pips a day is 24k a year....Not exactly a millionaire territory taking weekends out its about less then 240days of trading assuming you also trade on holidays (don't recommend) What is interesting I am supposedly your mentor and you have not even subscribed to me or this thread! which is ironic furthermore you basically stopped posting anything since Sept2018. Actions speak louder then words.My mind works on facts.I generally don't fall for praises and seen many here....and not here anymore.
My work takes most of my time. I have little or no time to post. The little time I have for trading is during asian session and most of my trading are done via phone. I also find it difficult to type and post via mobile phone. I do not need your subscription your thread is a bookmark on my laptop. Lol I am not trying to praise you.
  • #29,123
  • Edited 3:33pm Apr 18, 2019 3:14pm | Edited 3:33pm
Quoting Gmo
AUDNZDAlways at the end of the trading day look at the H4 and more especially the Daily candle. At the end of the week look at the Daily and Weekly candles. There are often messages there! Can often give a great insight into the next week. Above all: Price Action - Pivots - Events 0840 4-18 Consolidation below Resistance is a Bullish sign (R100-R78-R100). 1.0700 break! How much further? R138 or R161 today? {image}
Wonderful advise....and works wonders if considering buy, sell, hold during a session. Eg. Last night Aussie news broke and I think many off us thought a strong upside move was in the making...at least breaking 72. But that was not to be the case as it quickly retraced back from R38, so quick in fact it looked very weak.....I was long about 10 mini lots and the trade hardly went against me so I decided to hold for an hour or so...I decided there was little point in holding for a healthy profit when I looked at the Daily Chart to determine what was going on....(and yes I should have taken a short position but hey...at least one good decision was made and that was to go back to cash ..lol)
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  • #29,124
  • Apr 18, 2019 3:18pm Apr 18, 2019 3:18pm
Quoting DiamondMiner
{quote} Davit, now realizing there are big gulps and there are small sips. All gulps and sips add up to $$$$ at the end of every week or month. It doesn't matter if it's a gulp or a sip. Win the battles you can, big or small. Engage when your analysis is right by checking multiple time frames for opportunity.
Also important context. When market is thin going to holiday chance of break out is slim to none and you adjust your trading the "Sipping part"
Yes I try making broker fee money UJ is a drainage stuck at 12 all week.My small trades are mostly for fee payments.
In trading, you have to be defensive and aggressive at the same time
  • #29,125
  • Apr 18, 2019 3:20pm Apr 18, 2019 3:20pm
Quoting victorezeaku
{quote} My work takes most of my time. I have little or no time to post. The little time I have for trading is during asian session and most of my trading are done via phone. I also find it difficult to type and post via mobile phone. I do not need your subscription your thread is a bookmark on my laptop. Lol I am not trying to praise you.
all power to you.Hope you make those pips
In trading, you have to be defensive and aggressive at the same time
  • #29,126
  • Edited 3:43pm Apr 18, 2019 3:25pm | Edited 3:43pm
Worth tracking EU next week.Buying at discount
don't buy now you'll pay long weekend shitload of fees plus no liquidity to go north now anyway
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In trading, you have to be defensive and aggressive at the same time
  • #29,127
  • Edited Apr 19, 2019 8:42am Apr 18, 2019 3:26pm | Edited Apr 19, 2019 8:42am
Quoting Davit
{quote} all power to you.Hope you make those pips
Well, I'm still working with figuring out what is comfortable in lot size and DD. I have only 10K to deal with and never want to get out of line with margin neither. I'm learning, from you and others on this Thread, everyone has something to offer in knowledge based upon their experience I appreciate you and everybody else. Also noticed you exited EN right about the London Open, ? Interesting....
Oh, by the way. I'm learning if you don't do your Calendar before trading starts on Sunday (and I mean really get into it), then don't expect much in profits that week. As the understanding of the calendar is a mirror reflection of what you know where you should be at that given time.
You NEVER will be the person you could be, without pressure & discipline
  • #29,128
  • Apr 18, 2019 3:37pm Apr 18, 2019 3:37pm
Quoting DiamondMiner
{quote} Well, I'm still working with figuring out what is comfortable in lot size and DD. I have only 10K to deal with and never want to get out of line with margin neither. I'm learning, from you and others on this Thread, everyone has something to offer in knowledge based upon their experience I appreciate you and everybody else.
When my account was 10k I maxed my lots to 5 dollar a pip that is all positions all trades.
I traded 50C a pip and even lower 30C. In trading books basically they are saying 1 full lot 10dollars a pip is sufficient for 10k account but that's too much.This will stress you out and you will get out of trades early before trade even has a chance to develop.50pip loss at full lot is -500.That's significant hurdle mentally to jump over on your next trade.....
Keep it 5 dollars max

I can trade now 30+dollars a pip but don't.I make sufficient profits without stressing out.Key is to relax and see the market not as a threatening place but place where you make your bread and butter.That's a paradigm shift in thinking
In trading, you have to be defensive and aggressive at the same time
  • #29,129
  • Apr 18, 2019 4:02pm Apr 18, 2019 4:02pm
Thank you very much Davit for sharing strategy and guiding everyone in this thread. With Pivot (swing), PA and Events it really helps me to confidently place the trade. I don't trade every day due to work but do trade couple of times in a week.

NZD/JPY seems to be in zone for us to watch? Considering good USD and CAD number - Risk On
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  • #29,130
  • Apr 18, 2019 4:03pm Apr 18, 2019 4:03pm
Quoting Davit
{quote} well done! time for
Just topped it up with some nice EN shorts I had opened from early this morning. 28.9% of the acc seems amazing Once again thank you, Have a good time off
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Money is a part of what turns you into who you are.
  • #29,131
  • Apr 18, 2019 7:29pm Apr 18, 2019 7:29pm
My first month in this group, and first profitable month so far. Thanks to Davit and everyone, much appreciated.

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  • #29,132
  • Apr 18, 2019 7:32pm Apr 18, 2019 7:32pm
I'm not a participant here but love reading this thread every morning before I start trading each day. I was sent a link of a podcast which is excellent and thought you guys would find it interesting as you are all involved in fundamentals and Forex news. It's all about the growth of China, their debt levels and how it affects Europe's economy and ultimately the Aussie dollar, in my opinion well worth 50 minutes of my time.

https://nucleuswealth.com/webinar/
Ardua Ad Astra Per
  • #29,133
  • Apr 18, 2019 8:11pm Apr 18, 2019 8:11pm
Quoting Davit
{quote} all power to you.Hope you make those pips
I remain your humble and loyal student sir!

May Almighty God continue to protect,inspire and guide you in all your endeavours. Amen
  • #29,134
  • Apr 18, 2019 11:54pm Apr 18, 2019 11:54pm
Quoting Davit
Closed EN and with that made 1720 for today.Not bad for days work {image}
And then there's I, who is aiming for 500€ per month
Nice gains
  • #29,135
  • Apr 19, 2019 1:49am Apr 19, 2019 1:49am
Quoting Davit
Why this matters. Accept yourself as you are. Otherwise you will never see opportunity. You will not feel free to move toward it; you will feel you are not deserving. Maxwell Maltz When you are always happy taking 50 dollar profit perhaps you can't imagine taking 500 dollar one. It goes deeper then numbers. I made over 20k profit few months ego because I allowed the possibility to achieve it and had the courage to act.After that my horizons opened even wider.With every push you are expending the boundaries of your performance and mindset....
One of your many good posts. I had my best month ever in November last year (based on when trades were closed) on the back of trades opened in Sept and Oct. But then had my worst month ever in January this year.

Opening your horizons is great but we still need to keep in balance and focus on the things (esp risk management) that got us there. I don't post this as a warning to Davit - who I believe from his journey that he has the pieces in place, but as a warning to others with less experience. Expand your horizons slowly and surely.
Hope for the best, prepare for the worst.
  • #29,136
  • Apr 19, 2019 1:51am Apr 19, 2019 1:51am
I just finished my final thesis and I will back next week. I can see the thread is growing well. Congratulations to you Davit.
  • #29,137
  • Apr 19, 2019 3:11am Apr 19, 2019 3:11am
Quoting victorezeaku
{quote} LOL I recalled when you were chasing 10 pips here and there on the thread As simple as possible: 00 level trading. I use to envy you as a very successful trader.c Even if you were, now you are a super successful trader.
Hi victorezeaku,

I'm already with one foot on vacation, the real one starts tomorrow, but I'd like to answer this post briefly hoping not to clutter Davit's thread.

I still trade 00-level strategy much less and much better than before. As said this improvement is due to a "new state of mind" and many concepts I've learnt here in Davit's thread, that by the way are are also useful outside of trading. On a technical note for that system, trader LuXing helped me a lot.

Even if results are very encouraging and consistent, I don't consider myself as a super successful trader and I say this without false modesty, because there are still many things that I don't understand in the market in general and in the strategy in particular, and my goal even before gain is to learn and understand as much as possible because profit is a consequence of knowledge.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #29,138
  • Apr 19, 2019 3:14am Apr 19, 2019 3:14am
My week results
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  • #29,139
  • Apr 19, 2019 3:47am Apr 19, 2019 3:47am
April gains so far.
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  • #29,140
  • Apr 19, 2019 4:21am Apr 19, 2019 4:21am
Greetings everyone, have nice holiday ahead !

NU react to the Weekly 100, (i know here we are not looking for other pivot but just for let you know the Weekly 100 zone is the same of Montly 78)

I should consider to buy it now, or wait until next week.

Take care.
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Don't be delicated, be vast and brilliant ! [Brent Smith]
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