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Pivot Trading

  • #31,121
  • Jun 26, 2019 1:10pm Jun 26, 2019 1:10pm
Quoting DiamondMiner
{quote} Bubincka, First and Foremost: I admit after my EA entry it never went to my satisfaction. But now, after already have been dragged through the mud of heavy DD. I'm staying in to see how it plays out. Every moment of this trade has been a cliffhanger experience worth noting. Let's see how it works out. P
With you. Holding that bitch till the end
  • #31,122
  • Jun 26, 2019 3:19pm Jun 26, 2019 3:19pm
Waiting for some pull back on EN to hit it again this time with more precision and confidence.
I think there will be a pull back how far dont know but its heading below 1.70 after pull back
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In trading, you have to be defensive and aggressive at the same time
  • #31,123
  • Jun 26, 2019 3:22pm Jun 26, 2019 3:22pm
Quoting denisius
{quote} With you. Holding that bitch till the end
Friday is very close.If China talks go well AUD will gain a lot cross the board.So far signals coming from Mnuchin sounds promising
In trading, you have to be defensive and aggressive at the same time
  • #31,124
  • Jun 26, 2019 3:46pm Jun 26, 2019 3:46pm
ANZ Business Confidence tonight if negative expect EN to shoot up
I am AN long so Red is good for me.

Do want EN to reach 71 to sell it again at better number.
In trading, you have to be defensive and aggressive at the same time
  • #31,125
  • Jun 26, 2019 5:27pm Jun 26, 2019 5:27pm
Quoting RisingSun
{quote} Thanks Davit for using the trade_plotter on your chart. In this way more message are conveyed to viewers than just the pipsometer numbers. I would suggest all posters use this indicator to show his/her entry and exit points. Green order lines alone are poor when presenting trade charts of ongoing trades or closed trades. RS{file}
I'm playing with the colour and width settings to try and get the trade plots to show up better on my chart as it can be hard to see some of my trades given they are longer term and there is a lot of other colours on the chart just from pivots etc. My changes to colour and width don't seem to make a difference though. Any idea what I'm doing wrong?
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Hope for the best, prepare for the worst.
  • #31,126
  • Edited 5:46pm Jun 26, 2019 5:35pm | Edited 5:46pm
Quoting bubincka
I avoided closing EA short when it was earning more than 2% and now it has retraced a lot. In this tough path of recovery I have to keep greed under control. {image}
I'm trying to implement trade plotter to give you a better idea of some of my trades (see my previous post with query) but for me the psychology of trading is such that one of the worst things that could happen for me after DD and a significant move in my favour is for me to close nothing and have price to go back against me (to original DD or worse). When trading with many small positions I therefore don't care if I close some of them for small profits and miss out on greater profits as it's a lesser evil. eg AJ I've closed off about 29% of my positions on current pullback. Still have plenty to profit if continues in my favour but can reload near the bottom and below current low if price goes that way.

In your case I would have staggered closes as price moved in your favour - some would have been worse than the 'current' price on your posted chart, some would have been better.
Hope for the best, prepare for the worst.
  • #31,127
  • Jun 26, 2019 6:45pm Jun 26, 2019 6:45pm
Quoting Davit
{quote} Friday is very close.If China talks go well AUD will gain a lot cross the board.So far signals coming from Mnuchin sounds promising
Yes sir . This is my only A trade that left in 0 right now. Rest of them I was able to close in small profit after 3 weeks of waiting.

but since the risk of negotiation is higher, I would rather stay tight .

i am ready to sell dollar big time on most pair. Especially UC and EU.
  • #31,128
  • Jun 26, 2019 6:52pm Jun 26, 2019 6:52pm
Quoting denisius
{quote} Yes sir . This is my only A trade that left in 0 right now. Rest of them I was able to close in small profit after 3 weeks of waiting. but since the risk of negotiation is higher, I would rather stay tight . i am ready to sell dollar big time on most pair. Especially UC and EU.
buy AC now
In trading, you have to be defensive and aggressive at the same time
  • #31,129
  • Jun 26, 2019 7:05pm Jun 26, 2019 7:05pm
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I think…
In trading, you have to be defensive and aggressive at the same time
  • #31,130
  • Jun 26, 2019 7:13pm Jun 26, 2019 7:13pm
Closed rest of NJ
reduced my exposure to yen
Freed up nice free margin to pounce on good set ups
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In trading, you have to be defensive and aggressive at the same time
  • #31,131
  • Jun 26, 2019 7:18pm Jun 26, 2019 7:18pm
Already posted that I went long on AN
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In trading, you have to be defensive and aggressive at the same time
  • #31,132
  • Jun 26, 2019 10:18pm Jun 26, 2019 10:18pm
In the end in the night, my Trade Manager eventually closed it on trailing stop.
Sure it can go further down, but 2% is a good profit.
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Porta itineris dicitur longissima esse
  • #31,133
  • Jun 27, 2019 2:32am Jun 27, 2019 2:32am
Biggest event this week other then G20 is US GDP today
Will be waiting eagerly to see how this unfolds. EU may push above 14 then crash down
In trading, you have to be defensive and aggressive at the same time
  • #31,134
  • Jun 27, 2019 9:48am Jun 27, 2019 9:48am
UC H1 I placed an extra pivot point line in the blue one is WS1 in standard pivots which is where its currently hovering. Of course we are in risk on mode with the G20 Summit on. UJ has a deep crab on H1 perhaps if talks go well WPP will be extent of downside on UJ.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,135
  • Jun 27, 2019 1:12pm Jun 27, 2019 1:12pm
Took some more TP on EA and weeks results so far
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In trading, you have to be defensive and aggressive at the same time
  • #31,136
  • Jun 27, 2019 3:51pm Jun 27, 2019 3:51pm
Took a short on EG I think its at great spot.Its begging for correction
almost 2 lots committed
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In trading, you have to be defensive and aggressive at the same time
  • #31,137
  • Jun 27, 2019 4:27pm Jun 27, 2019 4:27pm
Quoting Davit
Took a short on EG I think its at great spot.Its begging for correction almost 2 lots committed {image} {image} {image}

thank you for the indie from the post above , i also have a short so we both wait and see
people leave, but this thread will go on for ever
  • #31,138
  • Jun 27, 2019 11:06pm Jun 27, 2019 11:06pm
Quoting Davit
Took a short on EG I think its at great spot.Its begging for correction almost 2 lots committed {image} {image} {image}
I think you may be right it had an ABCD that went to a T1 move before reversing up higher a few weeks ago. I entered 1 10 K lot on UJ today long off the WPP keep an eye on it and see if It goes my way and I can start adding positions.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,139
  • Jun 28, 2019 2:07am Jun 28, 2019 2:07am
Quoting Davit
Took a short on EG I think its at great spot.Its begging for correction almost 2 lots committed {image} {image} {image}
I'm in too with a small position.

The point is GBP not in good shape, still down even after this morning good data, I don't know what it takes to bring it up, for sure definition of political situation along with Brexit will play a key role. In the meantime CPI EUR data is good too, looking EG daily chart left there could be room for further upside.
We don't trade CHF, but to get a full picture, GBPCHF is close to its all time lows-

It's very likely market that is moving very slowly is waiting clues from G20 and Xi/Trump side meeting.
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Porta itineris dicitur longissima esse
  • #31,140
  • Jun 28, 2019 3:13am Jun 28, 2019 3:13am
Risk Aversion or too Risk Averse?
Holding trades over the weekend - for me No!
Small gains have paid off - nothing dramatic in trades for the past 3-4 weeks.
When will we see a more "predictable" market again when we can better assess higher probability trades?

Check out Kathy Lien if you have not already done so!
http://www.bkassetmanagement.com/fea...fx-trade_13285
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