Pivot Trading

i'm waiting there also

Really good point. I think people underestimate how good this system is. Trading is about probabilities and Davit's system has a very high success rate. That is what matters.

press conference

so far he sounds pretty optimistic only hindrance being Trade conflicts (read Trump)

Here is the Truth which economy is Not slowing now!! Every economy is on downward pressure. We are Next starting cutting rates.
USD will not stay dominate long.That's just me and that's how I see it.

https://www.bloomberg.com/news/artic...0-record-party

Worth a read, US economy reminds me of a game a poker and you wont show your cards.

Week is not over yet. Market does what market does. CAD definitely strong stand from Poloz. Watch learn adopt adjus and move on! Cheer up guys! few bad trades and everyone disappeared . I have seen worse. 2 weeks and I wil triple in profit!

Here we go guys

Hmm - I think UC already peaked out close to R138 - but we will see.

Exited my EC position for a decent profit before the news, and jumped back in afterwards riding it down again...

I could close all my positions in DD and still be in decent profits this month. Money Management is key and that's why Davit highlights it so often. It allows you to play the game and buy back in when the time is right. Plus it overrated when the roads are always straight smooth. We need the odd chicanes here and there

Hi,

Small buy on USDJPY - 30M.


Cheers,
Ben

.

“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”

― Yvan Byeajee

In the spirit of forgetting everything you may have learned in the past about trading that didn't work for you. Only placed one small trade but you get the idea. In and out in 30 minutes. Still working on refining exit strategies though.

closed EC modest gain

Received from IC Markets:

"Dear Trader,

WARNING: Potentially hazardous market conditions - Japanese golden week

Japan has an extended spring vacation, ‘Golden Week’, from 27th April to 6th May. This will be the longest market closure since the end of World War II, creating potentially hazardous market conditions due to the low liquidity expected across all markets during Asian hours.

Low liquidity, especially during Asian hours, can create extreme flash crashes. Recent examples of these include:

 

1. 3rd January 2019 - JPY crosses +10%
2. 7th October 2016 – GBP crosses -10%
   
3. What does this mean?
   
   There will definitely be low liquidity during Asian market hours. This will mean really slow markets and wider spreads during Asian hours with the potential for extremely fast-moving markets and extreme price moves.
   
   What should you do?
   
   Plan for worst case scenarios!
   
   IC Markets urges all its clients to take precautionary measures before the holidays. This includes assessing and reducing risk exposures, setting stop levels, especially on JPY crosses. Furthermore, additional funding may protect clients from large adverse movements in the market.
   
   In order to protect clients from poor liquidity & sharp adverse movement, IC Markets reserves the rights to change the leverage on all symbols, without giving further notice, should the need arise.
   
   We will carefully monitor market conditions, and should there be any further changes, we will contact you via email, the trading platform, or post changes on our website."

My CAD news update & reflections
Appreciate if Davit or others have any comments
Looking to learn/ exchange ideas from fellow pivoters
Green pips!

Was away to take care of some things, glad to finally be back. Just had a few losing trades, but they actually made me stronger, wiser and better prepared moving forward. This time off and especially today taught me valuable lessons. This method is so spot on that winning comes sometimes too easy. So easy that I began to lower my guard.

As the psychology freak that I am, I have to say that in life we tend to separate the "bad" from the "good," when in reality it is all one. If we view all as one we will then realize that one is dependent on the other, one does not exist without the other. See my Avatar...they work in harmony.

Loses are part of life as well as in trading, I accept them, they are my best teachers and today I needed this loss because this is when I realized I needed to pause, access and correct some flaws.

What did I do wrong? Thank you for asking...I will tell you.
1. Celebrated my wins
2. Was boastful, arrogant, and careless
3. Rumbled through trading
4. Took unnecessary risks


What is the solution? What a great question..."allow me to retort."

Trade the system

1. This method has rules, follow them
2. Plan your trade, trade your plan. A good example was this week, since my calendar stated AUD and CAD should be dovish I should have traded accordingly no matter what. Sometimes that includes not taking a trade. No reason why do my calendar and not stick with the plan.
3. Do not celebrate wins. If I do, I subconsciously attach emotions to trading; therefore, I will automatically regret losses.
4. Be humble and grateful
5. Remember Mark Douglas
6. Execute

A successful system has three key components...a high probability method (edge), executable (following clear rules and trade plan), and psychology (MD). Anyone one of us who took AUD trades executed this method as rules states, no shame in that. Keep doing so because this method is highly effective. I have had my share of losses trading this method; however, I have also won more than enough to have the life that most aspire to live. I welcome these days, because I know by experience that this high probability edge will keep being so. Period.

https://www.forexflow.live/2019/04/2...-jpy-are-here/

Upcoming Trade Balance good for NZD, price stalled at S61. Oil price having bearish sentiment due to surplus US inventory released today. Hence I paired ND against CAD.
#plan your trade and trade your plan.

Welp, i stayed put after my order got hit and averaged down early in the morning to get to 78.90 so im not down that much just 30 pips right now....ill get out at even and move on to something else or look to short a/j