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Pivot Trading

  • #29,761
  • Edited 11:19am May 1, 2019 11:09am | Edited 11:19am
Feds live in 20min. I suggest if you are serious about trading to listen.Its educational.
https://www.federalreserve.gov/live-broadcast.htm

4.15 BOC Gov Poloz Speaks
red event

Anticipating dumping profit taking on Cad pairs after press conf. EC GC should drop. If Feds sound very dovish UC dropping as well.
In trading, you have to be defensive and aggressive at the same time
  • #29,762
  • May 1, 2019 11:34am May 1, 2019 11:34am
here we go guys! EC GC
In trading, you have to be defensive and aggressive at the same time
  • #29,763
  • May 1, 2019 11:38am May 1, 2019 11:38am
Powell such a pencil pusher Trump should of fired this guy long ego
In trading, you have to be defensive and aggressive at the same time
  • #29,764
  • May 1, 2019 11:42am May 1, 2019 11:42am
Come to papa! I need more screen time obviously! I can do way better!
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  • #29,765
  • May 1, 2019 11:43am May 1, 2019 11:43am
Quoting Davit
Powell such a pencil pusher Trump should of fired this guy long ego
Next week China deal . It’s almost done and it’s positive. I am going to keep all U pairs running!
  • #29,766
  • May 1, 2019 11:52am May 1, 2019 11:52am
very well
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  • #29,767
  • May 1, 2019 12:01pm May 1, 2019 12:01pm
Greetings everyone.

GC still near R78.
Don't be delicated, be vast and brilliant ! [Brent Smith]
  • #29,768
  • May 1, 2019 12:02pm May 1, 2019 12:02pm
As someone who has been trading with a strategy for a great while that focuses on steady-state markets (staying away when important news comes out) i was wondering: With this method, keeping in mind that its a mix between technicals and fundamentals - are we happy when we have positions open now and price goes our way due to the press conference or we we prefer to stay away at times like these? Ofcause we can have a bias based on how much research and overall knowledge we have, but i dont really feel good about making this many pips on an event that could might aswel have went totally different?
  • #29,769
  • May 1, 2019 12:14pm May 1, 2019 12:14pm
I have been nursing some DD recently, which has now been evaporated thanks to Powell. My mindset has completely changed. In years gone by I'd be on the edge of my seat anticipating a news release full of anxiety and sweating profusely, like a gambler; simply because I had too much on the table. Trading so small it feels insignificant and pointless is truly a powerful thing and it's taken me a long time to get my head around. Not only have I now come out of the DD, I am now also holding on to the positive trades. Previously I would have panicked and closed as soon as they were profitable. Today, the edge wasn't on the seat, it was within me.

Patience and trading small have been my major lessons!

Thanks for sharing the wisdom, Davit!

Cheers,
Ben
  • #29,770
  • Edited 12:35pm May 1, 2019 12:24pm | Edited 12:35pm
Quoting Pagh
As someone who has been trading with a strategy for a great while that focuses on steady-state markets (staying away when important news comes out) i was wondering: With this method, keeping in mind that its a mix between technicals and fundamentals - are we happy when we have positions open now and price goes our way due to the press conference or we we prefer to stay away at times like these? Ofcause we can have a bias based on how much research and overall knowledge we have, but i dont really feel good about making this many pips on an event...
short answer you need more screen time. News is nothing more then creating volatility.You stay out of it kind of missing out.
Rate already stayed the same hence whatever Powell has been dishing-out in broader scheme of things is irrelevant.Main event was the Rate.
Focus on Pivots! PA Events PPE
Dont overthink it and dont over analyze until you become paralyzed. There are obviously X factors and every trade is potentially a loser but also potentially a winner.Edge over large sample size.
I took 667 trades last month.That's EDGE over sample size
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In trading, you have to be defensive and aggressive at the same time
  • #29,771
  • May 1, 2019 12:30pm May 1, 2019 12:30pm
Quoting denisius
{quote} Next week China deal . It’s almost done and it’s positive. I am going to keep all U pairs running!
I am on the same path. In my Calendar I commented that China-US Deal close as per Pres. Xi.
Attached image - very conservative entries. on this day!
NZD has always been considered by many professional traders as an "indicator" currency.Yes, patterns in TDI, now rarely used, prompted entries before 10am.
Note Daily open as Resistance, NY Open Support. Thank you Powell
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  • #29,772
  • May 1, 2019 12:39pm May 1, 2019 12:39pm
Quoting Gmo
{quote} I am on the same path. In my Calendar I commented that China-US Deal close as per Pres. Xi. Attached image - very conservative entries. on this day! NZD has always been considered by many professional traders as an "indicator" currency.Yes, patterns in TDI, now rarely used, prompted entries before 10am. Note Daily open as Resistance, NY Open Support. Thank you Powell {image}
Are you short ?
sell strength in falling markets, and buy weakness in rising markets.
  • #29,773
  • May 1, 2019 12:42pm May 1, 2019 12:42pm
Quoting htcone
{quote} Are you short ?
Did you look? Seriously did you look at the chart? Look again!
GMO please dont answer

If you cant see the obvious how you are going to see Candle Patterns and details that are core part of trading!

removed Thanks for making it quick instead of wasting precious time
In trading, you have to be defensive and aggressive at the same time
  • #29,774
  • May 1, 2019 12:49pm May 1, 2019 12:49pm
Quoting htcone
{quote} Are you short ?
I have seen GMO in real life and his tall. Giant Men Organisation
  • #29,775
  • May 1, 2019 12:51pm May 1, 2019 12:51pm
reminder Poloz speaking at 4.15
He sounded Bullish last time and may gave EC GC UC a boast of blood
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In trading, you have to be defensive and aggressive at the same time
  • #29,776
  • May 1, 2019 12:51pm May 1, 2019 12:51pm
TamRoofer , I say WOW !!!!!!

Damn straight , PIVOTS WORK !!!!!

Congrats ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #29,777
  • May 1, 2019 1:20pm May 1, 2019 1:20pm
Running EA and EC down...

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  • #29,778
  • May 1, 2019 1:25pm May 1, 2019 1:25pm
Closed EC and AC
Modest gains.Still a 300 dollars Was holding AC for BO north but did not see it on PA so got out.
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In trading, you have to be defensive and aggressive at the same time
  • #29,779
  • May 1, 2019 1:26pm May 1, 2019 1:26pm
Classic setup GbpUsd R100:
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  • #29,780
  • May 1, 2019 1:44pm May 1, 2019 1:44pm
Took GC Short
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You NEVER will be the person you could be, without pressure & discipline
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