Pivot Trading

My niece opened Domino's in LA and after working like a dog the entire family was forced to close with close to million dollar loss.
She went into pharmaceutical sales and made a killing there.

Bottom line trading is best business! Your success is determined by YOU! How much effort you put into it and actually developing some critical thinking skills

There is a guy on popular thread asking about TDI this and that and not realizing and seeing the bigger picture prices have nothing to do with TDI! or RCI or any other oscillator. This kind of critical thinking is necessary otherwise you are in the dark....until account get busted.
Why I wanted you guys to watch Mark Douglass videos (dont ask use search here) it changes lot of things for better!

Won best documentary at Goya awards.
Notice in the end he said "What has your work been?" 30yrs 12hrs a day practicing!!

Here I am asking people to put 2hrs a WEEK doing the calendar events and know most here dont do it! Dont ask why you are not making money look at your own self in the mirror.

Overbought USD bulls very likely to dump positions after the press conference.Does not matter what they say Feds that is.Its priced in IMO

Slowing house sales are signs things are not as green here.Housing effects construction plus lots of other industries.

Quick 20-30pips spike by algos likely to take out cluster liquidity stops before reversal
Why 20-30pip stops are inherently faulty and account draining

A/U at S138 + Daily Low =
Usd/Chf R100 + Daily High =

Usd/Cad R61 +Daily High?

Hi everyone.
An interesting observation I have noticed for those who believe that Forex is a get rich quick endeavour , and to some , it may be.
I looked at the USD/CAD on a DAILY CHART from January 7 , 2020 until January 29 , 2020 (today) at approx 15:05 AST. I live in Canada and enjoy trading this pair.
This pair was a great long trade and enjoyed a nice pop up on January 22 , 2020 spurred on by a News Event.
This pair went from 1.2964 to 1.3205 at this time of writing over a 17 day period , a total rise of 241 pips.
FOR APPROXIMATION PURPOSES ONLY , I calculated the number of PIPS PER HOUR GAIN to be 0.59 pips/hour.
My reason for doing this was to reinforce to myself the mantra that many excellent traders on this thread have posted which states that , "...forex trading is a marathon , not a sprint". When you take this calculation into account , convert it to a PERCENTAGE GAIN BASIS , AND IF YOU ARE FULLY ENGAGED IN THE POWER OF THE INFORMATION ON THIS THREAD , you quickly realize the POWER OF PIVOT POINT TRADING (PPT).
Thanks to you all , EVERYDAY I realize more and more what we have here.
PPT at a rate of 0.59 pips per hour may not sound like a whole lot to some traders , however , it has clearly shown me that this turtle will be quite happy to wait for the rabbit meet me at the finish line !!!
Now I did not "sit on this trade" for this entire period. However , sometimes posts by traders put things into perspective when written like this one.
The reality of 0.59 pips per hour WILL TURN AN INITIAL INVESTMENT OF $5000.00 into a hell of a lot of money. NO BANK will ever do this for you.
Thanks again DAVIT , and the other expert traders on this thread , for all that you do FOR EVERYONE HERE !!!! I choose not to post screenshots on this thread because there are plenty here to learn from and mine will not add any value to the thread , IMO. So I submit observations here and there. Due to this thread , my account gain since the beginning of this year stands at 64% !!!!! As Davit would know , my account is not large currently , but , it will be by the end of this year.
Anyone who WILL FOLLOW INSTRUCTIONS CONSISTENTLY can do what I have done.
For " shit's and giggles" as we say in the Maritimes , I showed my result to my "FINANCIAL PLANNER (GASP)" at a major Canadian Bank which has failed to earn me 1% PER YEAR for the past 3 years on my Pension Account !!!! Happily , she just about shit herself when I told her that I will be moving my money to a competitor and will be self direct investing my money. I can only trade stocks in my NEW Portfolio. I will never be able to thank the people on this thread enough and I will do whatever I can to "give back" to this thread.
By the way , for those who do not believe that PPT coupled with PRICE ACTION does not work , I see that the "outsiders" looking in on this thread is consistently holding pretty much a 2:1 ratio.
DAVIT'S METHOD WORKS !!!! PERIOD !!!
Regards , GOD I LOVE YOU ALL ,
GreenEarth

Please Note

We all know the importance of fundamental drives that move Forex and the importance of inter-markets (currency, stock, bonds, cash rates etc) that often affect each other in the long term; even if we may not use all these factors in our beloved pivot strategy.

I have been learning about fundamental factors for almost a year now, and I have created a private blog for myself in which I put any new note, tip, information etc that I come across each day and it's been ever growing so quickly.

The problem is these pieces of information are like a messy collection of puzzle pieces which are so difficult to shape a good picture in the mind. I am thinking how much of the FOMC press conference I could understand? I repeat again, I am aware we're supposed to be traders not economists and in being a trader I'd say we're doing pretty good.

So I thought I might be able to take the initiative and ask all of you to share good books that you personally have read and that you think they're worth reading. This can be a website too.

I'll start myself:

"Forex Patterns & Probabilities" by Ed Ponsi

I cannot say "one of the bests" because this is the only "book" I have ever read on fundamentals and everything else I know so far has come from the Internet. But I can say I am really really pleased I read it and IMO it's absolutely worth it (this post looks like a promotion ad now )

Now it's your turn. Please be kind enough to share with others some of the good books on fundamentals and inter-markets that you've read ...

Hello Davit,

Can you tell me where to find a copy of your TDI template?

I seem to be getting a handle on the pivots and have entered my first trade today on the NZDUSD, but I would like to include the TDI if possible.

Thanks
Terry

Hi Terry,

Davit doesn't use the TDI indicator anymore so it's not part of his template. If you want to find the indicator it's called TDI RT Clone and the easiest way to do that is to click on the paperclip at the top of this page. When you click it you'll see a heading entitled "File Attachments". There are 34 pages of file attachments in this thread. Hint: I would start on page 34 and work forward from there.
If you want to see all of the posts in this thread that mention TDI, enter TDI into the "Search This Thread" box at the top-left of this page.
PipBull

And the AUD continues to flail, meanwhile the FED injects $84.7 BILLION overnight into the monetary system once again. No market manipulation going on here, nothing to see boys and girls move along! Commodity prices are dropping, Iron Ore being one of Australia's biggest export. Here's a story on the oiling of the market and some commodity links. Copper and WTI on daily's showing the beat down they're taking. Coal is also taking a beat down and is selling 35% lower YTD from last year. Bottom line, if commodities continue to fall, and demand weakens the AUD is going nowhere fast. It's to hard to ascertain the impact of this Corona Virus on markets yet. However as the spread continues and factories start shutting down and travel is being restricted we can certainly expect some kind of impact on numbers in the near future. I have some AUD long positions I took yesterday that are slightly negative I shall continue to monitor them, and may just dump them. If they do improve I don't believe it will be a case of the AUD getting stronger more so a case of USD weakening. OPEC is considering deeper production cuts, OIL inventories greater than expect today. consensus 0.7 actual 3.5
https://www.wsj.com/articles/fed-add...=hp_major_pos2
https://commodity.com/australia/#Aus...modity_Exports
https://markets.businessinsider.com/...iron-ore-price
https://tradingeconomics.com/commodity/coal
https://www.cnn.com/2020/01/29/asia/...hnk/index.html
https://oilprice.com/Energy/Crude-Oi...-Meltdown.html

If you want an indicator you should be well versed at what it does. Here's an explanation of the TDI indicator from Patrick in Vegas.

I liked "Day trading the currency markets" by Kathy Lien for an introduction to Fundamentals.

Both Market Wizards and The New Market Wizards books are great even though they are more about trading and state-of-mind generally and not specifically Forex related.

I read a dozen other highly recommended Forex books and to be honest, forgot about most of them after a short time. You are far better off just practicing trading and getting more screen time than reading lots of books IMHO.

Trading in the Zone, Mark Douglas has helped me more than any book about fundamentals. If you are following this thread, this is not news to you. However, it is the best trading read. Mostly because, anything can happen in the market, and you can still make money.

EA M30 Deep Crab

I closed my positions yesterday with good profits, after I saw that the move after FOMC got weeker. I just reloaded NU, EA and AU now again. PA shows the way again. Very nice PA on this pairs imho....

I believe in Kathy Lien. I think her books should be worth the time. Thank you

CADJPY
Having incurred the wrath of Davit and am "crazy" according to renkotop I submit that simple semantics created a misunderstanding. I received more than 60 PM's including 31 from Pivot Trading members who were aghast at the comments. Yes, semantics caused the misinterpretation. To Davit I apologize for offending him.
Yes, I did go long from 82.65 and exit 82.94.
However, may be this Post will explain my scene??
Look at PA on H4, H1, M30 at S38. Probabilities were high to go short. Dominant Trend W1, D1, H4 Down.
Retracement from High 1-17-20 to Low 1-28-20 a little above 23.6. As I have posted before, where there is a 38.2% retracement or less there is a greater than 80% chance of a new low being created. It has made the new low!
My set exit was 82.30. MT4 on my IPhone alerted me that the target had been hit! Yen pairs often top in the 70's or bottom in the 20's with Double Tops/Bottoms a Yen characteristic.

Opportunity is missed by most because it is dressed in overalls and looks like work!
Thomas Alva Edison

Good Morning guys
Its obvious now after the Feds coronavirus fears are dominating the market.Commodity currencies taking a beating specially AUD and NZD
Best you can do manage the positions if losses must be taken then do it.Its part of trading.
Remember if it helps I measure my gains in Quarters.Even if I have crappy week I am still over my goal for the month and sure my 1stQ will be up.
Just zoom out relax you got time!
Some of the positions EN EA are Extreme specially EA I am looking for it to correct. Brexit is Friday so there is good chance of deflation.
Manage your trades and relax.Stressing over trades that did not work out is not worth it.Remember its just probabilities.

Yes coronavirus is yet another demonstration of the "anything can happen" paradigm.

The unpredictable factor that causes a shift in the markets for which it is of primary importance trading small, taking reasonable losses and managing open positions accordingly doing so treating our trading as a business measuring results at the end of each quarter.

Still short EA and long AU....proper risk management and position sizing....should be no panic! Throw in a bit of patience, gas mark 7, and you're sorted!