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Pivot Trading

  • #30,601
  • May 21, 2019 3:26pm May 21, 2019 3:26pm
Quoting DiamondMiner
Closed EA for a loss, closed AJ for a profit and holding NC Long loaded. {image}
Hi friend
Its your trades and you manage best you can however why bail out from EA when it possibly hit swing top and now descending.
Looks to me MM closed the gap by taking advantage of RBA weak statement but that's done deal...tomorrow another day another Price Action.
In trading, you have to be defensive and aggressive at the same time
  • #30,602
  • Edited 4:48pm May 21, 2019 3:44pm | Edited 4:48pm
Quoting Davit
{quote} Hi friend Its your trades and you manage best you can however why bail out from EA when it possibly hit swing top and now descending. Looks to me MM closed the gap by taking advantage of RBA weak statement but that's done deal...tomorrow another day another Price Action.
Davit, you are probably right. However I felt the movement in the EA short was a dead issue till June 03 news, secondly it freed up margin for me on something that has better promise of moving. By admission, I'm still learning, though I've made good money because of this method, but also I've given up good money by market conditions or by bad decisions. Granted being on the razors edge is no fun, as it's sharp on both sides. Now, watch EA take off short just to prove I made a mistake. Obviously I am the runt of the litter here, nothing to be proud of neither. If anything I appreciate you looking out for me. Learning the news late is a killer, that I need to fix. Need to not let emotion get to me as well.
You NEVER will be the person you could be, without pressure & discipline
  • #30,603
  • May 21, 2019 5:17pm May 21, 2019 5:17pm
Diamondminer , through Davit's thread , the knowledge gained here , personally , I reached the point where managing my account much better enabled me to TRULY TRADE STRESS FREE !!!! I'm a retired firefighter , geared to do things quickly , decisively. Once I was able to S--L--O--W D--O--W--N , it all "clicked".
I didn't realize at the time that EMOTION was indeed CONTROLLING ME , but , was unwilling to accept it , and I was the one reacting at the wrong times.
Reading your post was a great reminder to me about how I used to be. PATIENCE had to define me if I was going to be truly successful as a retail trader.
We are so lucky here on this thread , surrounded by AMAZING HUMAN BEINGS who treat us and educate us to be TRADING PROFESSIONALS from home.

Thanks for the reminder , GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #30,604
  • Edited 7:13pm May 21, 2019 5:29pm | Edited 7:13pm
GreenEarth, it's an honor to fly with you eagles. I was patient for days, just did a knee Jerk reaction after the MM spike. Somehow it pushed my buttons. Guess I never experienced a dead market before, not like this one. Knew it was wrong after I went out, it wasn't over money, but possibly about being wrong. There is a lot to learn here and the psychology of trading is a good part of it here. I can see here one must let time be your best FRIEND and it will.
Thank You
You NEVER will be the person you could be, without pressure & discipline
  • #30,605
  • May 21, 2019 5:36pm May 21, 2019 5:36pm
Quoting Husky77
{quote} tell him resolution as well,i dont think that is 1920x1080 ,looks bigger to me if you buy just bigger screen size in inch will not be enough.if you want more space you need bigger rez as well.
yes @Husky77 resolution also matters will buy with a good resolution
Trading is about paying attention. Davit
  • #30,606
  • Edited 5:59pm May 21, 2019 5:47pm | Edited 5:59pm
Quoting asgharhussai
{quote} yes @Husky77 resolution also matters will buy with a good resolution
I have one acer 32 inch but 1920x1080 resolution which make it not so useful this days for me,
i was trying to not spend stupid money and bought this one
Inserted Video
,for forex and stuff i need is more than enough. now i plan to get next bigger resolution cos even this i have seems not enough for the need to see more mt4 chart windows.
this AOC things are really cheap and if you not use for any sophisticated graphic for forex is fine ,movies and browsing is just more than enough.
mine i think i have it since almost 2 years,from this 2 years 1 and half was always ON and is working fine.
next i will buy is this one
Inserted Video
and thats it i have more than enough.
cheer up

Quoting asgharhussai
{quote} yes @Husky77 resolution also matters will buy with a good resolution
with AOC i have now i can play easy 4 charts .
but i need another one at least the same or bigger resolution.so with two monitors like this is enough for me.
Attached Image (click to enlarge)
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Take what you can, give nothing back
  • #30,607
  • May 21, 2019 6:04pm May 21, 2019 6:04pm
Quoting Husky77
{quote} I have one acer 32 inch but 1920x1080 resolution which make it not so useful this days for me, i was trying to not spend stupid money and bought this one https://www.youtube.com/watch?v=hrfvf4SsBtY ,for forex and stuff i need is more than enough. now i plan to get next bigger resolution cos even this i have seems not enough for the need to see more mt4 chart windows. this AOC things are really cheap and if you not use for any sophisticated graphic for forex is fine ,movies and browsing is just more than enough. mine i think i...
thank you @Husky77 for your suggestion
Trading is about paying attention. Davit
  • #30,608
  • May 21, 2019 6:06pm May 21, 2019 6:06pm
Quoting Husky77
{quote} tell him resolution as well,i dont think that is 1920x1080 ,looks bigger to me if you buy just bigger screen size in inch will not be enough.if you want more space you need bigger rez as well.
Resolution 3440 x 1440,
We obey the structure that results from the market's reaction
  • #30,609
  • May 22, 2019 12:30am May 22, 2019 12:30am
Afternoon,
I have been using4x 42 inch TV,s( plus computer monitors) as monitors for years with 1920x1080 resolution and no problems..I run multiple pairs on each.....Tv,s are cheap compared to the expensive computer monitors....I am using 80 year old eyes.
Ron
Ronnie Renko
  • #30,610
  • May 22, 2019 12:50am May 22, 2019 12:50am
Quoting S.Wladimir
Davit with Your permission . We foreks sedentary work ))) . Simple movements for health . My morning starts with breathing exercises https://youtu.be/cEOS2zoyQw4
I hike a couple of miles a day. My mother goes to a Tai Chi class every week, she does seated Tai Chi which is also supposedly pretty good for you. She also does the exercises every day at home. I found this video online perhaps its worth a try when sitting at the desk.
Inserted Video
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #30,611
  • May 22, 2019 2:39am May 22, 2019 2:39am
GPBCAD, building long positions
  • #30,612
  • May 22, 2019 3:12am May 22, 2019 3:12am
UJ
CJ
EJ
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Trading is about paying attention. Davit
  • #30,613
  • May 22, 2019 3:25am May 22, 2019 3:25am
Quoting DiamondMiner
... I was patient for days, just did a knee Jerk reaction after the MM spike. Somehow it pushed my buttons...
Hi DiamondMiner,

don't worry, it happens to everyone.
Porta itineris dicitur longissima esse
  • #30,614
  • May 22, 2019 6:27am May 22, 2019 6:27am
Diamondminer , I experienced those exact psychological setbacks too many times to count. Oddly enough those psychological urges still persist , but now , I am a MENTAL WARRIOR because of DAVIT'S SYSTEM. Now I stand strong in the face of adversity , quite a change for me.
Green Pips to you , and everyone else.

Sincerely ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #30,615
  • May 22, 2019 6:39am May 22, 2019 6:39am
AUDNZD
Look at AN.
Note previous High and a pair that trades well between R38, PP, S38. Low ADR.
This has become a preferred pair for me. See other posts.
Hurdle ahead R38 and London Open, then Daily Open.
As a less aggressive trader, I prefer a retest of the High near 1.0600. For the technical, M30 Volatility Bands are in a squeeze!
AUD scene far from settled?
The Market shall decide!
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  • #30,616
  • May 22, 2019 6:43am May 22, 2019 6:43am
Apart from AN 5-15-19 + 1463.6 pips, see previous Post, I have quietly over 2-3 weeks been picking away taking profit not on a grand scale.
UJ + 128, CJ +373.
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  • #30,617
  • May 22, 2019 7:22am May 22, 2019 7:22am
"Blending Candles" (Steve Nison)
Time frames are limited on MT4. Consider using Investing.com Live Charts.
45 Minutes and 2-Hours can greatly assist in decision making.
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  • #30,618
  • May 22, 2019 7:38am May 22, 2019 7:38am
Retail Sales for CAD were very good, double than forecast, for those like me having shorted CAD against NZD, this means DD that gallops.
Attached Image (click to enlarge)
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Porta itineris dicitur longissima esse
  • #30,619
  • May 22, 2019 8:39am May 22, 2019 8:39am
GM Davit and my other Pivoter Friends,

I wanted to share my "Button" pair selector that I have modified separating Davit's most traded pairs and their general direction - Buy or Trade Long and Sell or Go Trade Short.

It just helps me go thru the selected Pairs quicker and to quickly reminds me of the suggested Pair direction as per Davit:

Attached Image


Attached File(s)
File Type: mq4 BUTTONS-Pair Trade Direction.mq4   13 KB | 732 downloads


You can easily modify again or correct as you like.

Cheers !

- John
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #30,620
  • May 22, 2019 8:55am May 22, 2019 8:55am
Basically we have one more day of risk aversion with Brexit chaos rising adding up to trade war, so money flowing mostly to safe-haven CHF and JPY.
Porta itineris dicitur longissima esse
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