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Pivot Trading

  • #32,881
  • Edited 8:49am Nov 26, 2019 8:37am | Edited 8:49am
Could have taken some profits when it spiked up. Didn't think it would come back down but that's normal with trading. Time to be patient

what to build some positions on NZDJPY too
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  • #32,882
  • Nov 26, 2019 9:18am Nov 26, 2019 9:18am
Did some reflecting in the last week about my trading results and why they arent where I would like them to be. After reading Davits post about his bumps in the road I thought I would post my own. I found a few things that were jamming up my vision:

Not following my trade plan ( trading from 61-100 zones, watching PA and keeping an eye on fundamentals)
Not taking 15 mins a day to visualize what means the most me and seeing myself as a success and acting in my own best interest
Poor money management, not setting my max drawdown indicator as a fail safe

What have I changed this week:

For me I took out the s38/r38 lines to focus heavily on extremes 61-100
Waking up 15 mins earlier to visualize my life as a success to retrain my thoughts and stay on track.
Double checking fail safes are in place and not having too many trades open at once

Everyone has demons, calling them out and taking care of them seems to be the only way of moving ahead

Green pips to all!

This mornings trade
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  • #32,883
  • Nov 26, 2019 9:44am Nov 26, 2019 9:44am
After disappointing CB Consumer Confidence I opened some UC shorts.
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Porta itineris dicitur longissima esse
  • #32,884
  • Nov 26, 2019 12:38pm Nov 26, 2019 12:38pm
Closed..
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"The freedom of the other extends mine to infinity"
  • #32,885
  • Nov 26, 2019 1:53pm Nov 26, 2019 1:53pm
I could grab some pips on UC.

Atm I don't see valid setup, maybe something going on GBP, I don't feel comfortable for the elections.
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Porta itineris dicitur longissima esse
  • #32,886
  • Nov 26, 2019 3:25pm Nov 26, 2019 3:25pm
Quoting Davit
interesting site https://www.tradingview.com/symbols/EURUSD/ when you click on technicals you get the whole retail trading enchilada with all its glory.Find it amusing https://www.tradingview.com/symbols/EURUSD/technicals/ Note how this data doe not account any fundamentals just blind mindless oscillators and MA's There maybe direct relationship 95% forex traders losing money following oscillators and MA's and why industry keeps propping them up.Maybe the best bait "just follow the arrow" MA's Oscillators! forget using your...
Hi Davit, I fully agree. Thank you very much for all your input.

After following your thread a while, I struggle with one thing. I know it may sound silly, but how do you analyze the fundamentals? Or better: how can I learn to analyze the fundamentals? I see what you and a lot of others doing every week. They sum up the news events for next week and take a conclusion because of that. And I feel big respect. I feel like a dummy beside you and the people who understand fundamentals... I find fundamentals very difficult. Technical analyses is easy. Fundamental nearly impossible to understand. At least for me... The economic language is very complex. When I read the reports, statistics and calendar event descriptions, I often understand not really which conclusion I should take. I mean: how do you judge what is important and what not? Ok, it's easy to see if an event is red, orange or yellow. And it's easy to see how much it could impact the market. I just need to analyze old impacts... But event new event is unpredictable. It doesn't matter if an event is positive or negative, the market sometimes makes just a short positive spike when good news and than goes down a lot of pips. And sometimes good news causes big marketmovements.... And the reports are often very long and it seems that without a economic master study, it's not possible to read or to judge this reports.....

Do you have a idea how to learn to use fundamentals?....

Thank you David
  • #32,887
  • Nov 26, 2019 3:45pm Nov 26, 2019 3:45pm
http://www.bkassetmanagement.com/fea...s-charts_13777
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  • #32,888
  • Nov 26, 2019 5:25pm Nov 26, 2019 5:25pm
Adrian Orr, govenor of New Zealand bank issued statement that they will not change the lvr (loan to value ratio) and "is committed to bolstering the long-term resilience of the financial system" trying to decipher whether this is a positive for NZD as an announcement or not? Anybody's thoughts?
  • #32,889
  • Nov 26, 2019 5:30pm Nov 26, 2019 5:30pm
Quoting kleybenny
{quote} Hi Davit, I fully agree. Thank you very much for all your input. After following your thread a while, I struggle with one thing. I know it may sound silly, but how do you analyze the fundamentals? Or better: how can I learn to analyze the fundamentals? I see what you and a lot of others doing every week. They sum up the news events for next week and take a conclusion because of that. And I feel big respect. I feel like a dummy beside you and the people who understand fundamentals... I find fundamentals very difficult. Technical analyses...
I dont think I can cover everything you asked.Try please use search function of this thread.Over the years I went over lot of material.Let me share a personal experience when I started trading I knew little about fundamentals like everyone was following some oscillators and MA's bollinger bands etc.
My real loss happened when Feds signaled to start easing and like an idiot I started buying USD and basically took my 1st 3k loss which luckily woke me up to understand how Feds and basic fundamentals effect price.Since then I made an effort to read and understand how things work.
To answer you briefly try trading AFTER the red news then you make trade decisions based on facts until you get better.Avoid trading events you dont understand until you do.I may do a video covering this plus pivots once holiday season comes since I will stop trading and will have time.
In trading, you have to be defensive and aggressive at the same time
  • #32,890
  • Nov 26, 2019 8:27pm Nov 26, 2019 8:27pm
Quoting bigpipin1
...Everyone has demons, calling them out and taking care of them seems to be the only way of moving ahead Green pips to all! This mornings trade {image}
Attached File(s)
File Type: xlsx Demon Finder.xlsx   13 KB | 598 downloads
Invest in Life
  • #32,891
  • Nov 26, 2019 9:18pm Nov 26, 2019 9:18pm
Quoting Mundo
{quote} {file}
Great spreadsheet! Added to the plan
  • #32,892
  • Nov 26, 2019 10:35pm Nov 26, 2019 10:35pm
Quoting bigpipin1
Did some reflecting in the last week about my trading results and why they arent where I would like them to be. After reading Davits post about his bumps in the road I thought I would post my own. I found a few things that were jamming up my vision: Not following my trade plan ( trading from 61-100 zones, watching PA and keeping an eye on fundamentals) Not taking 15 mins a day to visualize what means the most me and seeing myself as a success and acting in my own best interest Poor money management, not setting my max drawdown indicator as a fail...
One thing I would have to say is use caution in removing the R38, S38 (ignore it if you must but don't discount the meaning used correctly).....these can be powerful test zones the week after a big markup or markdown week...often the test will come at these levels and offer some really great entries after an extreme week....read many of Cryptosurfs posts regarding Market Structure as he alerted many off us how to look at the market...you will see what I mean...below is just a screen shot of a fantastic entry after a volatile week... note the first arrow at the extreme level R100, the next week the test came at R38 and failed big time....
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  • #32,893
  • Nov 26, 2019 11:58pm Nov 26, 2019 11:58pm
Quoting Davit
{quote} I dont think I can cover everything you asked.Try please use search function of this thread.Over the years I went over lot of material.Let me share a personal experience when I started trading I knew little about fundamentals like everyone was following some oscillators and MA's bollinger bands etc. My real loss happened when Feds signaled to start easing and like an idiot I started buying USD and basically took my 1st 3k loss which luckily woke me up to understand how Feds and basic fundamentals effect price.Since then I made an effort...
Thank you very much
  • #32,894
  • Edited 3:10am Nov 27, 2019 2:20am | Edited 3:10am
Closed GC GA
Gained 18% gave back 2% rather not hold these anymore.Done with GBP until after Brexit drama

You may be wondering how I am dealing with these losses emotionally.Nothing just 2 trades that didn't work out among hundreds that DID WORK OUT
That's it.No drama.Next trades coming. How does a restaurant deal with snow storm that keeps everyone away for days and products going waste....thousands in losses.Every business has losses.Fact of life.Zoom out look at your performance from monthly to quarterly then everything starts making sense.
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In trading, you have to be defensive and aggressive at the same time
  • #32,895
  • Nov 27, 2019 3:24am Nov 27, 2019 3:24am
Still UC short AN long
In trading, you have to be defensive and aggressive at the same time
  • #32,896
  • Edited 4:01am Nov 27, 2019 3:47am | Edited 4:01am
Some amusing posts.
Account is healthy and well running 3% DD.I find it interesting how idiots prophetess to know my account status go around forum posting ridiculous assumptions.
Just baffles my mind. Funny the idiot rookie recommending to trade samafor and trade opposite to my trades Can't get anymore idiotic.
Goes to show most here are losers.Its just a fact.
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In trading, you have to be defensive and aggressive at the same time
  • #32,897
  • Nov 27, 2019 6:57am Nov 27, 2019 6:57am
Quoting Mundo
{quote} {file}
Yeah that is a great tool from Trader Dante. He is big on tracking your trades to keep you focused.
Trade with confidence, trade without fear.
  • #32,898
  • Nov 27, 2019 7:47am Nov 27, 2019 7:47am
Quoting Davit
ATM its ranging so what I do when it does I usually trade 1 direction of BO in case that happens if not get out repeat. If you can nail 10 pips 3-4tmes that's a daily profit without much stress.Unlike lot of traders I love range trading and trend trading.Its important to have flexible approach in trading not be fixated in particular style.Its a battle and you must adapt to conditions whatever market throws at you {image}
I agree with you 100%. I am also focused on the opportunities offered by the market, those with the highest probability rather than a single approach. I can take positions in the direction of the fundamentals, in favor of the trend or against, swings, etc... it doesn't matter, the important thing is to bring home pips (I say "scratch the cheese" ). The pivots are the main weapon but I don't dislike the trading of some formations of patterns (when the MM is manipulating). I often trade "bi-directional" that is, while I follow a main direction (usually droved by fundamentals) and I adding positions, at the same time grab pips by taking positions in the opposite direction. Some trades takes more time to develop (weeks, months...) and others are closed faster (minuts, hours, days...).

The biggest problem with the failure of traders is the lack of adaptation to the various situations of market and volatility.
Trade What's Happening... Not What You Think Is Gonna Happen
  • #32,899
  • Nov 27, 2019 7:53am Nov 27, 2019 7:53am
Davit , here at Pivot Point Trading , WE KNOW YOUR VALUE.

If I may , I would love to put forth a recommendation that we IGNORE all of our naysayers.
After all , if we invest any amount of energy into their criticisms then that is energy spent on them that SHOULD be spent on our (Davit's) thread.
So let's forget about them.
They will be driven nuts once they realize that they cannot argue with a rock. Due to Davit , we are indeed rock solid in our approach to trading AND we are enormously successful traders here at Pivot Point Trading. Folks , this is an elite group of traders here , taught by a fantastic Leader.

Green Pips To All ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #32,900
  • Nov 27, 2019 8:02am Nov 27, 2019 8:02am
EG
PP rejections worked for me. Looking reload back
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"Don't Predict, Do react"
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