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Pivot Trading

  • #34,301
  • Feb 4, 2020 6:27am Feb 4, 2020 6:27am
Cut all remaining AN longs from old trades net negative .Done! Taking my money where I can make money not park for weeks on end.
In trading, you have to be defensive and aggressive at the same time
  • #34,302
  • Feb 4, 2020 6:30am Feb 4, 2020 6:30am
Quoting artestine
In times like these, where DD is higher for different reasons, it could be useful to come back to read this post (especially people who are panicking whatching their DD increase): {image}
nice of you to post this.Its a great post how one should think of DD
In trading, you have to be defensive and aggressive at the same time
  • #34,303
  • Feb 4, 2020 6:56am Feb 4, 2020 6:56am
Never felt better taking a loss
Closing AN chapter was such relief!This was my huge mistake.Should of closed this way earlier when price was 460.Live and learn

Took the money added more UC and EA shorts.Working out nicely.I like to see my capital doing work not seating in endless nowhere land.
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In trading, you have to be defensive and aggressive at the same time
  • #34,304
  • Feb 4, 2020 7:00am Feb 4, 2020 7:00am
Quoting Davit
Never felt better taking a loss Closing AN chapter was such relief!This was my huge mistake.Should of closed this way earlier when price was 460.Live and learn
Same here and I even closed my long 20 pips lower earlier today, 10 pips profit after a week, I think...but the worst is, I had headaches from watching the pair move up and down around the same levels.

btw today's NZD news might be green and AN could fall back down again, so not worth to hold, anyway.
Everyone can see the chart, but only a few can actually read it.
  • #34,305
  • Feb 4, 2020 7:03am Feb 4, 2020 7:03am
Quoting OnlineAddict
{quote} Same here and I even closed my long 20 pips lower earlier today, 10 pips profit after a week, I think...but the worst is, I had headaches from watching the pair move up and down around the same levels. btw today's NZD news might be green and AN could fall back down again, so not worth to hold, anyway.
Exactly then wait another weeks for it to move higher while your capital doing no work for you
In trading, you have to be defensive and aggressive at the same time
  • #34,306
  • Feb 4, 2020 7:06am Feb 4, 2020 7:06am
Quoting ppxdf
{image}
Very strong correlation between the AUD and Copper & Iron Ore. I trade copper sometimes in my FX account I have several commodities in it. I posted a Copper chart the other day. I'm long on Copper right now, I just entered this morning. I think Copper should be moving up long term as more and more electric cars hit the road there should be good demand for Copper for electric motors. As a fellow Pilot you would find this interesting, we have a World first with a local company where I live out here on the West Coast. They have the World 's first electric Seaplane. https://www.harbourair.com/harbour-a...tric-airplane/ Here's a Daily and Weekly chart on CU.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,307
  • Feb 4, 2020 8:14am Feb 4, 2020 8:14am
if the coronavirus was so serious, and everyone was running for safe haven.
already 2 days ago, they ran away from CHF & JPY. where did they go?
good for my AUD.
In my view, maket is stabilizing virus impact . so, the risk appetite grows
Yen, Swiss franc drops, aud rise, so?
  • #34,308
  • Feb 4, 2020 8:21am Feb 4, 2020 8:21am
Quoting ppxdf
if the coronavirus was so serious, and everyone was running for safe haven. already 2 days ago, they ran away from CHF & JPY. where did they go? good for my AUD. In my view, maket is stabilizing virus impact . so, the risk appetite grows Yen, Swiss franc drops, aud rise, so?
Nobody will hold safe haven long term due to their negative interrest rates. Who would want to accumulate negative swaps every day? And some of the worst kind, too? USD vs CHF, for example. Thats why during bad news, they might spike...but then the move slowly fades and they are being sold. I don't expect that to change for now, until their interrest rates are so low.
Everyone can see the chart, but only a few can actually read it.
  • #34,309
  • Feb 4, 2020 8:36am Feb 4, 2020 8:36am
Quoting OnlineAddict
{quote} Nobody will hold safe haven long term due to their negative interrest rates. Who would want to accumulate negative swaps every day? And some of the worst kind, too? USD vs CHF, for example. Thats why during bad news, they might spike...but then the move slowly fades and they are being sold. I don't expect that to change for now, until their interrest rates are so low.
interesting what you said. good point
  • #34,310
  • Edited 10:26am Feb 4, 2020 10:11am | Edited 10:26am
I closed my GC and GU yesterday content with $270 profit in a day freed up some margin and hit EA like a Ninja last night right after the RBA announcement with one market order filled @19:30:11 and the other filled @19:30:25 Moving along nicely. Up $170 today on EA.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,311
  • Edited 10:34am Feb 4, 2020 10:19am | Edited 10:34am
Quoting ppxdf
{quote} Hello Russian did you know that information here ? {image} {image}
Hi ppxdf,

Unfortunately I didn't have that info at the time I took the trade. It was based purely on ADR, pivots and the swap. USDMXN is quite a good pair...it adheres reasonably well to the weekly pivots, has a good daily range, moves nicely in line with USD and MXN news and data releases and has very low spread when the liquidity is up.....it also has a good swap rate if you concentrate on short opportunities.
  • #34,312
  • Feb 4, 2020 12:13pm Feb 4, 2020 12:13pm
Quoting ppxdf
{image} just holding my AJ long. JPY, continues with negative sentiment, according we can see below, against all pairs. {image}
I believe most of AUD strength comes from the fact that they left rates unchanged (previously a cut was expected in Feb). But then again, profit is profit; good on you PPXDF
  • #34,313
  • Feb 4, 2020 12:45pm Feb 4, 2020 12:45pm
Take a look at the next week's calendar! It's gonna be so boring (lack of fundamental catalysts)

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  • #34,314
  • Edited 7:50pm Feb 4, 2020 12:55pm | Edited 7:50pm
Closed my UC short with minor profit (hate it when a pair doesn't move either direction). USD PMI (most likely green) will provide a better price (like R100) to get in again. Also S&P500 looks very resilient which will most likely push up UJ even further making UC short a bit risky at these level.

Any thoughts?
  • #34,315
  • Edited 3:34pm Feb 4, 2020 1:35pm | Edited 3:34pm
close my long AN also.
risk. despite that we know will be 80% chance cut rate. very soon
market is ahead. probably already have that cut priced.
  • #34,316
  • Feb 4, 2020 1:47pm Feb 4, 2020 1:47pm
Quoting finally-2020
Take a look at the next week's calendar! It's gonna be so boring (lack of fundamental catalysts) {image}
FF doesn't always populate every news event, and or hasn't as if yet. That's why i also use myfxbook calendar. You should also include medium impact events.

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Trade with confidence, trade without fear.
  • #34,317
  • Feb 4, 2020 2:40pm Feb 4, 2020 2:40pm
Quoting Romanov102
{quote} Very strong correlation between the AUD and Copper & Iron Ore. I trade copper sometimes in my FX account I have several commodities in it. I posted a Copper chart the other day. I'm long on Copper right now, I just entered this morning. I think Copper should be moving up long term as more and more electric cars hit the road there should be good demand for Copper for electric motors. As a fellow Pilot you would find this interesting, we have a World first with a local company where I live out here on the West Coast. They have the World 's...
that is fantastic. being an amphibian is much safer, because you have a runway at all times in your vertical. That's great. I saw something electric in oshkosh www.eaa.org , but only small light aircraft., In the experimental category
Inserted Video
  • #34,318
  • Feb 4, 2020 4:23pm Feb 4, 2020 4:23pm
Quoting Cryptosurf
{quote} FF doesn't always populate every news event, and or hasn't as if yet. That's why i also use myfxbook calendar. You should also include medium impact events. {image}

and tomorrow FF has US trade balance as low while Myfx book lists it as high....

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  • #34,319
  • Feb 4, 2020 4:32pm Feb 4, 2020 4:32pm
Quoting milicentfx
{quote} and tomorrow FF has US trade balance as low while Myfx book lists it as high.... {image}
I know, strange isn't it.
Trade with confidence, trade without fear.
  • #34,320
  • Feb 4, 2020 4:55pm Feb 4, 2020 4:55pm
Quoting Cryptosurf
{quote} I know, strange isn't it.
Yes it is.....Thanks for pointing this resource out!
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