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Pivot Trading

  • #32,541
  • Nov 8, 2019 6:43am Nov 8, 2019 6:43am
Quoting ToddyS2K
This post of mine after a long time. I'm too focused on trading and don't want distractions. In this chart there are some indicators that do not respect the rules (sorry), but I will explain them later. Davit, you've radically changed my way of trading ... thanks! In the next post I will post my results after a year of trading by applying the "vision" of Davit and its fantastic fundamental + pivots approach. I am not a beginner and I have about 10 years behind trading in forex (basically full-time)... I thought I understood everything but I was...
Hi Toddy do please post the results and thanks for the post.
In trading, you have to be defensive and aggressive at the same time
  • #32,542
  • Nov 8, 2019 6:45am Nov 8, 2019 6:45am
Quoting bubincka
Following total crash of NZD we can think to short AN again. {image}
goes without saying watch PA
In trading, you have to be defensive and aggressive at the same time
  • #32,543
  • Nov 8, 2019 7:17am Nov 8, 2019 7:17am
EU near S100
Gold near ADR low and S138
Work smarter,not harder
  • #32,544
  • Nov 8, 2019 7:24am Nov 8, 2019 7:24am
Quoting marcof91
EU near S100 Gold near ADR low and S138
USD is killing everything now lets see how it unfolds next 1hr
In trading, you have to be defensive and aggressive at the same time
  • #32,545
  • Nov 8, 2019 7:49am Nov 8, 2019 7:49am
EN is high probably short now.Positions will get dumped before London close
slept 4hrs last 24hrs.Feeling drowsy all the trading heightened my brain and could not relax ...
it was worth it almost 6k gain in a day
In trading, you have to be defensive and aggressive at the same time
  • #32,546
  • Nov 8, 2019 8:19am Nov 8, 2019 8:19am
Nice good to hear it. Making the pips makes it worth it. I enjoy my sleep but i also enjoy green numbers lol.

Here is my actual last update for the week. Closed my last trades for the week and look forward to next week.

As you can see i still have to clean up some of my entries, but i proud to say i take the loss when i see it and no more fear here.

After the 1st of the year i will be increasing my lot size.

Some of the highlight charts from this week.

I enjoy my early Saturday morning review of all my charts from the previous week (Wife and kids dont get up that early so its quite lol)

Pivots strike again!!

Cheers
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If you fail to plan, Plan to fail
  • #32,547
  • Nov 8, 2019 8:26am Nov 8, 2019 8:26am
My wife says to me now "Success is a habit practice it daily" when i am letting the stress of the world get in my way.

Its a great motivational saying that speaks volumes when your down or feeling some kind of way. It literally makes me review everything in a flash in my mind when she says it to me. Its like a reset to put you in the correct state of mind
If you fail to plan, Plan to fail
  • #32,548
  • Nov 8, 2019 8:31am Nov 8, 2019 8:31am
Quoting Tintman7
My wife says to me now "Success is a habit practice it daily" when i am letting the stress of the world get in my way. Its a great motivational saying that speaks volumes when your down or feeling some kind of way. It literally makes me review everything in a flash in my mind when she says it to me. Its like a reset to put you in the correct state of mind
read the book if you have not.Just about every self motivating coach writer owns to Maxwell Maltz
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In trading, you have to be defensive and aggressive at the same time
  • #32,549
  • Nov 8, 2019 8:33am Nov 8, 2019 8:33am
Quoting Davit
{quote} read the book if you have not {image}
Oh i have thx to you. About 8 times so far. Great book . Changed everything for me .

I am still a work in progress but i am taking long strides now instead of small steps.

I think visually seeing the trades in my mind changed alot of what i see in the market. My 30 minute me time of how i see my day going every morning works wonders, even in my full time job.
If you fail to plan, Plan to fail
  • #32,550
  • Nov 8, 2019 8:52am Nov 8, 2019 8:52am
Quoting Davit
{quote} USD is killing everything now lets see how it unfolds next 1hr
Yeah that weekly candle is pretty savage and there's a lot of air below. Its been pretty stretched most of the year.
There may be money to be made counter trading it, just have to keep a close eye on her.

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Trade with confidence, trade without fear.
  • #32,551
  • Edited 9:48am Nov 8, 2019 8:53am | Edited 9:48am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts | Online Now
Quoting Davit
EN is high probably short now.Positions will get dumped before London close slept 4hrs last 24hrs.Feeling drowsy all the trading heightened my brain and could not relax ... it was worth it almost 6k gain in a day
Also NZDUSD,

All trades are green with patience.
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We obey the structure that results from the market's reaction
  • #32,552
  • Nov 8, 2019 9:56am Nov 8, 2019 9:56am
EG is at a good spot too.
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Porta itineris dicitur longissima esse
  • #32,553
  • Nov 8, 2019 10:03am Nov 8, 2019 10:03am
Quoting bubincka
EG is at a good spot too. {image}
On my radar for next week. Its been hanging around there for some time now.
If you fail to plan, Plan to fail
  • #32,554
  • Nov 8, 2019 10:41am Nov 8, 2019 10:41am
closed UJ glad to get out of it.Hated this trade from get go.minor gain.I most likely wont touch this crap for long time.
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In trading, you have to be defensive and aggressive at the same time
  • #32,555
  • Nov 8, 2019 10:56am Nov 8, 2019 10:56am
Quoting Davit
{quote} read the book if you have not.Just about every self motivating coach writer owns to Maxwell Maltz {image}
I have read these book is awesome really, some from my results for these week
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  • #32,556
  • Nov 8, 2019 12:58pm Nov 8, 2019 12:58pm
Happy friday
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  • #32,557
  • Nov 10, 2019 11:14am Nov 10, 2019 11:14am
NZD rate news on wed projection another rate cut. Will this make NZD tank again? I doubt. The recent rate cut was almost double the sentiment and why EURZND shot up over 400 pips. since then price HAS been in consolidation. I would love to see MM push price up before wed so can sell it.
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  • #32,558
  • Edited 6:14pm Nov 10, 2019 2:45pm | Edited 6:14pm
Heres a google sheet I use for the calendar event selection and review

It uses the Forex Factory calendar csv file from the site.

Heres how:

  1. Use the weekly link on the bottom left of the Forex Factory page. ( Should look like this https://cdn-nfs.faireconomy.media/ff_calendar_thisweek.csv?date=10.2019 in the sheet)
  2. Right click on it and select "copy link address" See attached picture
  3. Then paste the link in the box on the sheet.
  4. Select your time zone
  5. Check the boxes of the events that interest you, and make your notes
  6. Review what you have done on the "Review" tab


Only fill in the data on page 1

You can replace the link the following week the same way and reuse this, just clear you notes or save it as new file for review later.

Just helps to organize everything i want to see.

You can:

  1. Filter days
  2. Filter events
  3. Filter currencies
  4. Make notes for the events
  5. Check boxes to have all the info sent to a review sheet

Here is the link to the doc

https://docs.google.com/spreadsheets...hWlGsgBR5p5aEo

FYI.. You need google sheets to run this.

Cheers

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Attached File(s)
File Type: pdf WEEKLY EVENTS REVIEW.pdf   143 KB | 640 downloads
File Type: pdf WEEKLY EVENTS REVIEW 1.pdf   95 KB | 764 downloads
File Type: pdf WEEKLY EVENTS REVIEW 2.pdf   47 KB | 329 downloads
If you fail to plan, Plan to fail
  • #32,559
  • Nov 10, 2019 3:14pm Nov 10, 2019 3:14pm
My Calendar events week two November

Looking at events there are 4 key Currencies in sharp focus this week NZD AUD USD EUR

GBP I don't trade, but just to put here: Will be a busy week for GBP, with a lot of data, plus election campaign, and the biggest driver for sterling now may be what opinion polls signal. Trade safe!

Mon
GBP Prelim GDP q/q green is projected here 0.4%, previous -0.2%
GBP GDP m/m red is expected here -0.1%
GBP Manufacturing Production m/m projection -0.2% from -0.7%
NZD Inflation Expectations q/q not expecting much volatility here. Fireworks on Tues

Tues
GBP Average Earnings Index 3m/y projection 3.8%, previous 3.8%
EUR German ZEW Economic Sentiment projection -13.2 from -22.8. If data shows some improvement, EUR may have some recover
AUD Wage Price Index q/q projection 0.5% from 0.6%
NZD Official Cash Rate market is expecting a rate cut of 25 b.p to a new record low of 0.75%. A rate cut is already priced in? Let's see how MM will push price.
NZD RBNZ Monetary Policy Statement
NZD RBNZ Rate Statement if RBNZ hold rates steady at 1.00%, expecting some gain for NZD. Watching NC for longs and EN for shorts. Already short on AN (on normal DD).
NZD RBNZ Press Conference should Orr and the committee leave rates steady at 1.00%, may holding fire until the next meeting in mid-February to cut. Be prepared, they may deliver some surprises. Let's see how this unfolds.

Weds
GBP CPI y/y projection 1.6% from 1.7%
USD CPI m/m and Core CPI m/m
USD Fed Chair Powell Testifies he is expected to reiterate that plans for further easing are now on hold after the Fed cut rates last month
AUD Employment Change projection 16.2K from 14.7K. Red here could give some fuel on EA north and AN south.
AUD Unemployment Rate projection 5.2%
CNY Industrial Production y/y projection 5.5% from 5.8%. Green here is good for AUD and NZD
CNY Retail Sales y/y 7.8% 7.8%

Thurs
EUR German Prelim GDP q/q projection is red here -0.2%. EN on watchlist for shorts
GBP Retail Sales m/m projection 0.2%, previous 0%
USD Fed Chair Powell Testifies
NZD Business NZ Manufacturing Index watching NC for longs and EN for shorts if data come positive here. Previous 48.4
CAD BOC Gov Poloz Speaks with recent economic data disappointing, will there be any talk of easing? AC and NC for longs on watchlist

Fri
USD Core Retail Sales m/m projection is positive here 0.3% from -0.1%
USD Retail Sales m/m 0.1% from -0.3%

I will be looking to short EN AN and long on AC NC. Currently short on AN.
Looking for trades on 61-100 zone always watching PA and news ahead.

Let's pile the pips!
"In the end you only trade yourself."
  • #32,560
  • Nov 10, 2019 4:09pm Nov 10, 2019 4:09pm
Got out of my EN shorts left over Friday
Dont want DD here with Tues rate decision.Decent gain.Very likely once liquidity gets in shoots high so not taking chances. My resolve on my trading is avoiding DD as much as possible
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In trading, you have to be defensive and aggressive at the same time
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