Closed NC nice gain with that 2.4% gain of equity today
Took EA short 63
Took EA short 63
In trading, you have to be defensive and aggressive at the same time
- #32,943
- Nov 29, 2019 10:27am Nov 29, 2019 10:27am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
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. {image}...
You must have faith in yourself and develop confidence what you are doing is successful endeavor only then you can proceed greater heights.
In trading, you have to be defensive and aggressive at the same time
- #32,944
- Nov 29, 2019 10:38am Nov 29, 2019 10:38am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #32,945
- Nov 29, 2019 11:06am Nov 29, 2019 11:06am
Done for the week and this month.
Up 2.4% on the week and 11.2% month.
Decided to close AN longs with minimal profit, didn't work as I expected, I may reload next week if opportunities presents (probably will, RBA Rate decision and a lot of data to be released).
Looking forward for the next week, AUD and CAD Rate Decision and lots of data for both, also NFP week.
Let's pile the pips!
Up 2.4% on the week and 11.2% month.
Decided to close AN longs with minimal profit, didn't work as I expected, I may reload next week if opportunities presents (probably will, RBA Rate decision and a lot of data to be released).
Looking forward for the next week, AUD and CAD Rate Decision and lots of data for both, also NFP week.
Let's pile the pips!
"In the end you only trade yourself."
- #32,946
- Nov 29, 2019 11:13am Nov 29, 2019 11:13am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Done for the week and this month. {image} Up 2.4% on the week and 11.2% month.
In trading, you have to be defensive and aggressive at the same time
- #32,947
- Nov 29, 2019 1:40pm Nov 29, 2019 1:40pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Closed 2nd batch on EA and with that my day is done.Nice day
In trading, you have to be defensive and aggressive at the same time
- #32,949
- Nov 29, 2019 6:01pm Nov 29, 2019 6:01pm
- Joined Feb 2015 | Status: Trader | 2,476 Posts
Trade with confidence, trade without fear.
- #32,950
- Nov 29, 2019 6:18pm Nov 29, 2019 6:18pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Even if pair going to reverse, more often than not when it is that close to ADR high or low it will reach it. I wouldn't take that trade not just because of that, but I don't sell below S38. Going against highest probabilities sure way to be in DD or loses. This method offers too many high probabilities opportunities to risk on any trade against it. Note to all...I might justify if trade goes well. But any successful trader will say key is consistently trading your method. Don't chase after trades, let the market move to highest probability...
On broader scale I noticed my winning rate has climbing tremendously and for that I can attribute it being very keen in awareness of events.The more we are in sink with this more you are closer to market makers moves.This is why without this awareness of events you can trade any oscillator MA's and still lose money.
Its actually sad how little new traders pay attention to fundamentals and waste endless hours chasing indicators.
Anyway green pips to all Pivoters
In trading, you have to be defensive and aggressive at the same time
- #32,952
- Nov 30, 2019 5:46pm Nov 30, 2019 5:46pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #32,954
- Nov 30, 2019 5:59pm Nov 30, 2019 5:59pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #32,955
- Nov 30, 2019 6:06pm Nov 30, 2019 6:06pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Brilliant Mr.Davit, You are our Pivot teacher of our Forex Factory University. Thanks a lot
There have been many here who took my system combined it with another then added more indicators and result became a mess.You can't dilute the wine with water then think its improved. Stick with it and focus.
In trading, you have to be defensive and aggressive at the same time
Hi guys I am pleased this thread is going almost 4th year and some take a ways. 1. Trading psychology (plenty of material posted on clipboard) 2.Solid understanding of fundamentals/events 3.Pivots 4.Basic Price Action although I can trade Pivots now even with line chart.... 5.Money management When all these factors come together you are in control and I can categorically say in my experience this system is pure money making system which combines TA +Fundies a killer combo. With that lets continue miking that cash cow {image}
More disciplined, stay patient, more focus, less stress/mistake, better results and MORE profit
- #32,958
- Edited 10:42am Dec 1, 2019 10:29am | Edited 10:42am
My Calendar Events week one December
Busy week for AUD, CAD and USD. My focus will be on these.
Sun
AUD Building Approvals m/m Projection of -1.0% from 7.6%. This may not have much impact, if reder, could propel AUD south, fireworks on Tues
CNY Caixin Manufacturing PMI 51.5 51.7. Green here is positive for AUD and NZD
Mon
EUR ECB President Lagarde Speaks Lagarde testifies to the European Parliament. So far, she hasn’t shared much of her monetary policy views. She may call upon European lawmakers to provide fiscal stimulus. So market will be watching the testimony closely. Looking to EA and maybe EJ for shorts
USD ISM Manufacturing PMI Projection to edge up 49.2 from 48.3
Tues
AUD Cash Rate Market expects rate to be unchanged at 0.75%
AUD RBA Rate Statement This may come dovish. When considering the fact that the RBA’s main area of concern continues to be over consumer spending and a slide in employment (-19.0K from 16.2K) and unemployment (up 5.3% from 5.2%) would support a more dovish stance on policy. Looking AN for longs and EA for shorts later
NZD GDT Price Index This may move NZD. Watching AN for longs and NC and maybe NJ for shorts
AUD GDP q/q 0.5% 0.5% If come as expected or better, could boost AUD. EA for shorts and AN for longs (and maybe AU) in mind
Weds
USD ADP Non-Farm Employment Change 140K 125K. Don't expect much volatility here, fireworks on Friday
CAD BOC Rate Statement Gov. Poloz will likely reiterate at the meeting that the risks remain tilted to the downside as the trade war rumbles on. Watching UC, NC for shorts
CAD Overnight Rate Market expects rate to be unchanged at 1.75%. In the week prior, BoC Gov. Poloz had stated that interest rates were at the right level to support the economy. (source)
USD ISM Non-Manufacturing PMI 54.5 54.7
NZD RBNZ Gov Orr Speaks
AUD Retail Sales m/m Projection to improve 0.3% from 0.2%. If green could help EA shorts and AN longs
AUD Trade Balance 6.50B 7.18B
Thurs
CAD OPEC Meetings This have direct impact on CAD.
OPEC and other major producers are scheduled to decide whether to extend the current output cap deal beyond March 2020. The consensus view is that the OPEC-led alliance will agree to extend the deal until June, though a longer extension until the end of 2020 is possible. Their current deal, which agreed to cut supply by 1.2 million bpd from January this year, expires at the end of March.
Iraq's oil minister told reporters in Baghdad that the OPEC+, will consider increasing the cuts in their supply pact at meetings in Vienna this week. (source)
If this materialize, will be good for CAD. Watching UC, NC for shorts
CAD Ivey PMI Projection to edge up 49.3 from 48.2
Fri
CAD Employment Change 10.0K -1.8K. Looking NC for shorts
CAD Unemployment Rate Projection to be steady at 5.5%
USD Average Hourly Earnings m/m Projection to edge up 0.3% from 0.2%
USD Non-Farm Employment Change Forecast green here 189K from 128K
USD Unemployment Rate Projection to be steady at 3.6%
Be aware that labour market data for US will be released on friday, positive data are expected, maybe not be wise sell USD earlier in the week.
I'll be looking to short UC, NC, EA and maybe UJ, EJ. Longs on AN and maybe AU.
Let's pile the pips!
Busy week for AUD, CAD and USD. My focus will be on these.
Sun
AUD Building Approvals m/m Projection of -1.0% from 7.6%. This may not have much impact, if reder, could propel AUD south, fireworks on Tues
CNY Caixin Manufacturing PMI 51.5 51.7. Green here is positive for AUD and NZD
Mon
EUR ECB President Lagarde Speaks Lagarde testifies to the European Parliament. So far, she hasn’t shared much of her monetary policy views. She may call upon European lawmakers to provide fiscal stimulus. So market will be watching the testimony closely. Looking to EA and maybe EJ for shorts
USD ISM Manufacturing PMI Projection to edge up 49.2 from 48.3
Tues
AUD Cash Rate Market expects rate to be unchanged at 0.75%
AUD RBA Rate Statement This may come dovish. When considering the fact that the RBA’s main area of concern continues to be over consumer spending and a slide in employment (-19.0K from 16.2K) and unemployment (up 5.3% from 5.2%) would support a more dovish stance on policy. Looking AN for longs and EA for shorts later
NZD GDT Price Index This may move NZD. Watching AN for longs and NC and maybe NJ for shorts
AUD GDP q/q 0.5% 0.5% If come as expected or better, could boost AUD. EA for shorts and AN for longs (and maybe AU) in mind
Weds
USD ADP Non-Farm Employment Change 140K 125K. Don't expect much volatility here, fireworks on Friday
CAD BOC Rate Statement Gov. Poloz will likely reiterate at the meeting that the risks remain tilted to the downside as the trade war rumbles on. Watching UC, NC for shorts
CAD Overnight Rate Market expects rate to be unchanged at 1.75%. In the week prior, BoC Gov. Poloz had stated that interest rates were at the right level to support the economy. (source)
USD ISM Non-Manufacturing PMI 54.5 54.7
NZD RBNZ Gov Orr Speaks
AUD Retail Sales m/m Projection to improve 0.3% from 0.2%. If green could help EA shorts and AN longs
AUD Trade Balance 6.50B 7.18B
Thurs
CAD OPEC Meetings This have direct impact on CAD.
OPEC and other major producers are scheduled to decide whether to extend the current output cap deal beyond March 2020. The consensus view is that the OPEC-led alliance will agree to extend the deal until June, though a longer extension until the end of 2020 is possible. Their current deal, which agreed to cut supply by 1.2 million bpd from January this year, expires at the end of March.
Iraq's oil minister told reporters in Baghdad that the OPEC+, will consider increasing the cuts in their supply pact at meetings in Vienna this week. (source)
If this materialize, will be good for CAD. Watching UC, NC for shorts
CAD Ivey PMI Projection to edge up 49.3 from 48.2
Fri
CAD Employment Change 10.0K -1.8K. Looking NC for shorts
CAD Unemployment Rate Projection to be steady at 5.5%
USD Average Hourly Earnings m/m Projection to edge up 0.3% from 0.2%
USD Non-Farm Employment Change Forecast green here 189K from 128K
USD Unemployment Rate Projection to be steady at 3.6%
Be aware that labour market data for US will be released on friday, positive data are expected, maybe not be wise sell USD earlier in the week.
I'll be looking to short UC, NC, EA and maybe UJ, EJ. Longs on AN and maybe AU.
Let's pile the pips!
"In the end you only trade yourself."