Pivot Trading Journal

Today's calendar.
Only GBP.
I'm not watching GBP these days much.

USDCAD
EURCAD

USDCAD
Closed: +44 pips

Today's calendar.


CAD ?!

EURCAD

Davit:
There are lots of dogs barking here at FF.If you find this thread system not profitable please leave!
That's as simple as I can put.I like working with people who have analytical capabilities and have critical thinking capacity.

Maybe biggest mistake was me trying help others.I get shit thrown at my face for trying 3yrs.I am pissed off now.I question the rational of doing what I am doing here instead of spending time with folks who truly care.
Not gonna lie dont feel like sharing anything now feel totally spiritually empty.I better log off for good amount of time.

====
Trolls will not win - I hope.
Davit will come back - I hope.

Today's calendar.


USD!
CAD

EURCAD

Today's calendar.


GBP

EURCAD

GM
Today's calendar.


14:30
USD - NFP

EURCAD

PSYCHO-CYBERNETICS,
A New Way to Get More Living Out of Life
By Maxwell Maltz

Relax while you work
Practice Exercise

In Chapter Four you learned how to induce physical and mental relaxation while resting. Continue with the daily practice in relaxation and you will become more and more proficient. In the meantime, you can induce something of “that relaxed feeling,” and the relaxed attitude, while going about your daily activities, if you will form the habit of mentally remembering the nice relaxed feeling that you induced. Stop occasionally during the day, it need only take a moment, and remember in detail the sensations of relaxation. Remember how your, arms felt, your legs, back, neck, face. Sometimes forming a mental picture of yourself lying in bed, or sitting relaxed and limp in an easy chair helps to recall the relaxed sensations. Mentally repeating to yourself several times, “I feel more and more relaxed,” also helps. Practice this remembering faithfully several times each day. You will be surprised at how much it reduces fatigue, and how much better you are able to handle situations. For by relaxing, and maintaining a relaxed attitude, you remove those excessive states of concern, tension and anxiety, which interfere with the efficient operation of your creative mechanism. In time, your relaxed attitude will become a habit, and you will no longer need to consciously practice it.

PSYCHO-CYBERNETICS,
A New Way to Get More Living Out of Life
By Maxwell Maltz

Practice Exercise: Form the habit of reacting aggressively and positively toward threats and problems.

Form the habit of keeping goal-oriented all the time, regardless of what happens. Do this by practicing a positive aggressive attitude, both in actual everyday situations which come up, and also in your imagination. See yourself in your imagination taking positive, intelligent action toward solving a problem or reaching a goal. See yourself reacting to threats, not by running away or evading them, but by meeting them, dealing with them, grappling with them in an aggressive and intelligent manner. “Most people are brave only in the dangers to which they accustom themselves, either in imagination or practice,” said Bulwer-Lytton, the English novelist.

PSYCHO-CYBERNETICS,
A New Way to Get More Living Out of Life
By Maxwell Maltz

PRACTICE EXERCISE - Habitually, you put on either your right shoe first or your left shoe.

Habitually, you tie your shoes by either passing the right-hand lace around behind the left-hand lace, or vice versa. Tomorrow morning determine which shoe you put on first and how you tie your shoes. Now, consciously decide that for the next 21 days you are going to form a new habit by putting on the other shoe first and tying your laces in a different way. Now, each morning as you decide to put on your shoes in a certain manner, let this simple act serve as a reminder to change other habitual ways of thinking, acting and feeling throughout that one day. Say to yourself as you tie your shoes, “I am beginning the day in a new and better way.” Then, consciously decide that throughout the day:

1. I will be as cheerful as possible.
2. I will try to feel and act a little more friendly toward other people.
3. I am going to be a little less critical and a little more tolerant of other people, their faults, failings and mistakes. I will place the best possible interpretation upon their actions.
4. Insofar as possible, I am going to act as if success were inevitable, and I already am the sort of personality I want to be. I will practice “acting like” and “feeling like” this new personality.
5. I will not let my own opinion color facts in a pessimistic or negative way.
6. I will practice smiling at least three times during the day.
7. Regardless of what happens, I will react as calmly and as intelligently as possible.
8. I will ignore completely and close my mind to all those pessimistic and negative “facts” which I can do nothing to change.

Simple? Yes. But each of the above habitual ways of acting, feeling, thinking does have beneficial and constructive influence on your self-image. Act them out for 21 days. “Experience” them, and see if worry, guilt, hostility have not been diminished and if confidence has not been increased.

Some thoughts related to Pivots (Part #6):

dropped the ball getting out of EC
Can't always predict the future but just saying lot of $$ left on table
didn't expect PA breaking 78S

Not trying to dissuade you from positions you already committed but aren't you sort of gambling?
Lets assume there is good probability rates stay the same and USD continues to fall and when that happens you can be sure moves will be fast and before you have a chance to get out you could be in deep hole. And if you set your SL too close you can bet spikes that often occur on important days like tomorrow will take you out even if after price goes in your intended direction.
Best course of action is no action wait for results then we can attack the new opportunities after.

WE got this monster without correction past 100R
what is the probability for correction? I think more like 70-80%
That's it! Its good enough for me. WE can add lots of mambo jumbo on it but fact is nobody knows the future and it’s just probabilities

It’s funny but I get the feeling someone is going to copy everything here and sell on it Ebay with different colors and names. Happens I've seen it.
Ohh well I hope it stays under the radar
I think it takes more then just pivots to be successful....Pivots are not new Jesse Livermore I believe invented or 1st real trader traded and that's in 1920's
back then it was a long price tape and he would spend endless nights calculating and establishing S/R and Pivots.
You guys should read the book REMINISCENCES OF A STOCK OPERATOR its on my profile

Sniperdebt here reminds me of Jesse Livermore. He stays on trades for weeks but his results blows everything. Jesse same he would keep adding to gains and very quickly in short months take 10k to 100k and that's in 1920's. JL is an inspiration and another trader I love is Richard Donchian my countryman an American Armenian. He revolutionized trend trading and Banks now basically trade his system.
Turtle trading is based on Donchian system.

EU displays EW count almost perfectly
5 waves and in EW wave 3 must be the longest and it is. Anyway watching this. Looks like 1.14 maybe topping off

1) there is no such thing like under capitalized professional trading. thats not trading, thats gambling.
In your reasoning if a person trades 1-5k account then he/she is gambling?
How about if this persons lot sizes are proportional to someone trading 100k account!
1-5k trades mini lots 100k full lots only difference is size of the account! What makes 1-5k account holder a gambler!
Fact is many traders blow 500k-over million accounts and statistically over 90% traders lose in this business and that includes institutional traders as well hence having 100k account means nothing in terms of profitability. It’s about methodology not account size!

EJ starting to grow legs on this
Yes I count every position every pip
Every position is mathematically independent trade

Some thoughts related to Pivots (Part #6):

To those who are new to pivot trading its going to take time to grasp the essence.
Because we trade small we can overcome DD in most cases. Its not suited for everyone and your decisions are yours. I have traded from DD to profit 90% of the time. These kinds of fluctuations is common in forex where in most cases pairs are in a range. This is important to grasp. AN for example has been in a range since 2015 and some "traders" even here were forecasting parity! That's totally out of context with fundamentals. Its important to recognize the range!

Try it out see how it fits with your trading style and temperament.
Fibo38 and Sniperdebt demonstrate here the vast potential of this system. Its not bullet proof nothing is.

who posted that chart obviously has poor reading skills because its on my 1st page.
"As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals."

and
Five fundamental truths:
1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that
define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening
over another.
5. Every moment in the market is unique.
– Mark Douglas

When you really believe that trading is simply a probability game, concepts like right or wrong
or win or lose no longer have the same significance.
– Mark Douglas

People who get what I do understand the dynamics of combing low gearing with high probability set ups. Rest is repetition and along the way there will be losers but seriously do you change your car when you have a flat tire or a scratch on the body that has been provided dependable service or you change the tire and continue driving it. You got to think this system from all perspectives.

Hi guys have little time now like to cover few refresher points

When you have it good going then that's when you must be vigilant not to get overconfident and careless.

1. Overtrading
One of the common symptoms to overconfidence is over trading. This can be done by trading too frequently, taking extremely large trades, or taking uncalculated risks. Overconfident traders can believe they are so “well equipped” with the right skills that they do not properly money management. If they did they would realize their overtrading can have disastrous effects. They are often so focused on making large gains, and believe they have the ability to do so, that they forget traders can both lose and win in the field of Forex. Overconfidence psychologically sets traders up for making mistakes, because they don't prepare for the loss.

2 please keep your positions small
3 Don't mix systems try to perfect what you are familiar. If trading Pivots then don't mix MA's, BB's, Daily CCFp, CC, & strength, Trading made simple etc
Try focusing on 1 whatever you choose.

lets talk about what not to do. When price is in between pivots like EA now don't take the trade most cases you'll be early collecting DD
Wait for price to reach its destination. Big boys who have resources to move price do have targets and pivots reveal their footprints

One way to maximize profits is once out of trade wait for correction then get in again.
Example NU I got out at 7180 and should this drop below 7150 I will most likely build another batch of trades.
I have done this repeatedly on every pair I traded lately on UJ EA a lot this month. This is kind of street smart trading following big money.
This is one of the reason I am successful trader because I am not looking at 20pairs I am looking at same pairs I just got out in profits to get in again and again.
Consequently I may end up trading one month almost exclusively Cad pairs and another month Euro or Yen pairs. I basically follow up on trends and corrections.
When you focus on limited pairs you start seeing patterns better.

People who follow moving averages often fall victim of buying highs and selling lows. Don't fall for it. Wait for Dips and Rallies!!!!Can't stress enough.
Pivots help when to get in.

One of the reasons I hate static SL because well your broker, market makers are after your money!

Oanda AN close Friday was over 40 pip spread!!!!! now had you had your foolish stupid idiotic SL in place say 980-90 even 1000 you would of had your money taken from you without question! Even though market most likely will open way lower.
If you think it’s only Oanda you are mistaken most do the same shit.
It’s called squaring the house! Spike it and clear the accounts! Be smart Don't put your SL too close or have your SL in $$ like I do never fixed.

Some thoughts related to Pivots (Part #6):

its crucially important everyone understands trading my system! Get rid of ALL moving averages! Yes you heard me ALL!
Once again read the 1st page carefully I don't sell bottoms and I don't buy Tops! Sure way to blow your account!
Focus on pivots, follow news. watch PA and support and resistance. If you missed the trade wait for rally or dips to get in but don't continue from the low or Top right away.
Be smart market makers do exactly that get in at rallies and dips follow them learn their footprints.
Below is EA Friday close. What I am sharing here is important guys. Don't blindly sell just because you got some dashboard with 5red arrows pointing down. Its meaningless. Wait for rally
Pull a chart and look at pivots and get an idea where to get in again. I drew some yellow lines on EA possible rally levels.

AU wait for dips and after very hawkish Yellens talk its very possible for AU to drop real low
I might look to sell this.

This is why placing fix SL is detrimental to your account.
Look at this spike down! Cleared all weak longs totally. Market Makers clearing the house. Getting tired of people telling me "where is your SL"
This is war guys. Everyone wants your money! Be smart protect yourself. Trade small and hit it hard when its obvious.

Some thoughts related to Pivots (Part #6):

I think you should work out a cut out point how much you are willing to invest on a pair to see if its working.
Worst case scenario is when positions get too big and becomes determental on the account.
Find your SL cut out point.

Another technique I use when trying to sell a bounce is to measure fibs from latest swing.
EA
5283 or 5280 key number to watch.
If you want your fib tool to show price like mine simply add symbols %$ (yellow in properties)


Have few minutes to post so let me say observe this system watch Price and pay attention where price is.

We have threads people posting dashboards and labeling pairs master slave etc. Dashboards are based on moving averages. As MA's go they are not reliable variable to place a trade.
Calling sell example AC well according to my system its not a sell
If you see a sell here you let me know!

Or slave currency GU well I am way up in profit BUYING GBP!! That is I am selling the MASTER USD
The whole thing is to me comical level.

Try to understand really understand what this thread is about. In my opinion its closest thing to professional trading. No gimmicks and shortcuts.
Only posted above to demonstrate that master understanding what location means in trading and in particular this system..

Closed GU longs expecting a corrective move down then I might reload.
Notice ATR 93red which means this pair has already moved its full potential for today and very likely to drop down some.