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Pivot Trading

  • #35,281
  • Mar 9, 2020 11:17pm Mar 9, 2020 11:17pm
Quoting Davit
EN posted the chart.Have a personal goal.Lets see if I can reach it. {image}
You are on
EUR is sell the rumor and buy the news?
We obey the structure that results from the market's reaction
  • #35,282
  • Mar 9, 2020 11:25pm Mar 9, 2020 11:25pm
Quoting Egbert
{quote} You are on EUR is sell the rumor and buy the news?
Thanks friend.Very focused. Euro IMO should collapse after ECB or even before it.Entire Country Italy on lock down talk about exhilarating recession.I think ECB may go negative rates.
In trading, you have to be defensive and aggressive at the same time
  • #35,283
  • Mar 9, 2020 11:27pm Mar 9, 2020 11:27pm
Something "safe" is EG away from Asia banks spikes
Only issue it wont move until Thurs so your money will get locked down for 2 days and takes lot of margin other then that its solid trade.I need my money not seating.Need it to make more money seating kills time and Time is precious.
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In trading, you have to be defensive and aggressive at the same time
  • #35,284
  • Mar 10, 2020 12:03am Mar 10, 2020 12:03am
waiting for this thick band of trades to get loose
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In trading, you have to be defensive and aggressive at the same time
  • #35,285
  • Mar 10, 2020 12:27am Mar 10, 2020 12:27am
Closed EC decent gain
Reason to close I am expecting back up again and may short again at yellow sopport
Most likely range until ECB or could break south now. "anything can happen"
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURCADM30.png Size: 37 KB
In trading, you have to be defensive and aggressive at the same time
  • #35,286
  • Mar 10, 2020 12:35am Mar 10, 2020 12:35am
Not gonna lie I am actually hesitant placing EN EA shorts for fear of another gigantic spike.Virus factor still there....Better be safe.

Hammering UC hard now
Have no fear of spike here!
I think I earned a sleep privilege now.Not bad 1477 another day tomorrow.I'll see you guys later.Stay safe!

EC goes above 55 which is likely its worth shorting again!
my opinion your trade!
In trading, you have to be defensive and aggressive at the same time
  • #35,287
  • Mar 10, 2020 12:48am Mar 10, 2020 12:48am
Quoting Davit
Not gonna lie I am actually hesitant placing EN EA shorts for fear of another gigantic spike.Virus factor still there....Better be safe. Hammering UC hard now Have no fear of spike here! I think I earned a sleep privilege now.Not bad 1477 another day tomorrow.I'll see you guys later.Stay safe! EC goes above 55 which is likely its worth shorting again! my opinion your trade!
We obey the structure that results from the market's reaction
  • #35,288
  • Mar 10, 2020 3:10am Mar 10, 2020 3:10am
Quoting Davit
Hi guys I want to apologize for everyone who lost money.I lost good chunk of it myself.Lot of people did. You'll read BS posts about me "revenge trading" etc.The usual crap. Fact is I am my own indicator and I am going to trade as I see fit me.Not anyone's standard. All I can say even 5k account can be grown very quickly.Don't gave up.You are a lion inside and you'll die like one.No place for weaklings. This is trading and comes with territory. Wish you the best!
Come on Davit, I've been following your thread for years and have great respect on you. You've burried a lot of time and effort to this thread which I think everyone highly appreciates including myself.

My post was constructive critisism not some BS post about you but about your trading after suffering a loss. The reason was because after loss you were encouraging people to risk higher % so everyone could gain back what they lost. This is not what you've taught here, this is by all definitions "revenge trading" which almost every time leads to ultimate account loss.
  • #35,289
  • Mar 10, 2020 3:32am Mar 10, 2020 3:32am
Truly grateful to see your leadership skill Davit.
Very refreshing and inspiring. True leadership is extremely rare but you are front and center leading us all on in the charge.
In my opinion , you are 100% correct in stating that TIME is of the essence , seize these opportunities.
Human learning encodes highly emotional events into our brains far greater than "regular events".
I know that my own confidence level has been shaken but not shattered and my appetite for risk is nil compared to yours , but , that's okay I am willing to wait a little longer whether it be 1 week , 1 month , or 6 months. My personality , my opinion , my trades.
Given this , my personality will not allow me to enter the market until I feel much better about this trading environment.
After the emergency FED RATE CUT , I said to my wife the next day , all countries must get together and slash taxes immediately or else we are headed for a Worldwide DEPRESSION. THIS MOVE will put significant dollars back into the pockets of "everyday people" which includes my Family. Governments now know that they have gone well beyond reasonable taxation thresholds. Banks should be FORCED to write off underperforming and non performing loans and mortgages , Worldwide. I know it sounds outrageous , but , the alternative is a severe depression. Another scenario , bank regulation changes so that ALL PERSONAL DEBT can be grouped into a 30 year 1% interest rate bundle. Guard this move by a very strict lending guideline to the borrower , "you screw this up , you will never be eligible for a loan ever again." This would equate to a massive infusion of cash back into all societies Worldwide and deflate this massive credit bubble to a highly manageable level in all Family households.
I am extremely surprised to see that President Trump is entertaining "BIG PAYROLL TAX CUTS" and I applaud him for it. I hope that our idiot leader in Canada is paying attention.
On another note , I am not convinced that the USD is finished climbing significantly higher against the CAD , and I see the CAD strengthening significantly against the AUD. Thoughts , opinions ?
Lots of us are bruised and battered but we have not been defeated. Collectively , we all here at PPT are too good to give up , we're just too damn good , and we help each other get better through the bad times and the good times.
Green Pips To All ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #35,290
  • Mar 10, 2020 5:53am Mar 10, 2020 5:53am
Quoting renkotop
{quote} bubincka, I understand your trading style (I checked it in the past) and it was (is) perfect. What happened the last few days, happens once every 10- 15 Years. Really, I would like your account will recover asap and I like your comments!!! renko
Hi renkotop,

thank you for your estimation.

My trading style is far from being perfect, apart from early entry & exit to stay on the safe I'll try to follow Cryptosurf's advice, holding so many open positions over the weekend was my major mistake, if I'd close all on Friday I would have suffered half of the loss, but that's history.

I have already restarted more aware and cautious.

Best regards,
Bubincka
Porta itineris dicitur longissima esse
  • #35,291
  • Edited 6:42am Mar 10, 2020 6:29am | Edited 6:42am
Quoting 1pipperhour
{quote} Come on Davit, I've been following your thread for years and have great respect on you. You've burried a lot of time and effort to this thread which I think everyone highly appreciates including myself. My post was constructive critisism not some BS post about you but about your trading after suffering a loss. The reason was because after loss you were encouraging people to risk higher % so everyone could gain back what they lost. This is not what you've taught here, this is by all definitions "revenge trading" which almost every time leads...
You are correct I made the mistake of thinking loud.Sometimes I forget everyone is different level of development on their trading.
Please do what's in your best interest.
I trade obviously different then 4yrs ego.I have grown as a trader and along the way my appetite for risk.
Each their own.

Having said this context is important here.We got not so normal conditions pairs over stretched way higher and lower then normal and going little higher risk to maximize best return of the situation is basically what I was trying to convey.

let me put it another way. If I had 5k account I am not going to waste an entire year to double that account to 10k.Yes its safer but not what I am shooting for.
In trading, you have to be defensive and aggressive at the same time
  • #35,292
  • Mar 10, 2020 6:46am Mar 10, 2020 6:46am
over 150 just drinking my coffee
EC going squeeze as much as I can from any rangy pair that suits me
trades were placed less then 20 min ago
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #35,293
  • Mar 10, 2020 6:51am Mar 10, 2020 6:51am
ppxdf
I know you lost great deal.Don't feel discouraged and dont let it scar you(note scar not scare).Mark Douglas talks great deal on fear.It might help reading those chapters again on Trading in the Zone
In trading, you have to be defensive and aggressive at the same time
  • #35,294
  • Mar 10, 2020 6:55am Mar 10, 2020 6:55am
Quoting GreenEarth
Truly grateful to see your leadership skill Davit. Very refreshing and inspiring. True leadership is extremely rare but you are front and center leading us all on in the charge. In my opinion , you are 100% correct in stating that TIME is of the essence , seize these opportunities. Human learning encodes highly emotional events into our brains far greater than "regular events". I know that my own confidence level has been shaken but not shattered and my appetite for risk is nil compared to yours , but , that's okay I am willing to wait a little...
impressive post.I like your thought process and you have grown as a trader.Just one thing don't lose sight of charts as well.
There is such a thing as over analyzing over thinking
In trading, you have to be defensive and aggressive at the same time
  • #35,295
  • Mar 10, 2020 7:00am Mar 10, 2020 7:00am
Want to share something important US regulators imposed lot of restrictions on trading one of them now if your lots are same example 1 on multiple levels you can't place sL or close later ones.
One way to overcome this is by varying it slightly so no 2 trades are exact size example 5 55 56 57 etc this way you can maximize profits by taking TP green trade while waiting reds to turn green
In trading, you have to be defensive and aggressive at the same time
  • #35,296
  • Mar 10, 2020 7:05am Mar 10, 2020 7:05am
Quoting Davit
ppxdf I know you lost great deal.Don't feel discouraged and dont let it scar you(note scar not scare).Mark Douglas talks great deal on fear.It might help reading those chapters again on Trading in the Zone
recovery is very slow with only $ 5k of margin. We know that the secret is to have a good margin.
I need to manage my funds and complete at least $ 10K. So that way the recovery will be quick.
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  • #35,297
  • Mar 10, 2020 7:08am Mar 10, 2020 7:08am
Quoting Davit
{quote} impressive post.I like your thought process and you have grown as a trader.Just one thing don't lose sight of charts as well. There is such a thing as over analyzing over thinking
Thank you Davit for your comment.
THANK YOU TO ALL OF YOU TRADERS WHO SAID THEY DON'T LIKE HOLDING POSITIONS OVER THE WEEKEND SINCE THEY HAVE BEEN BURNED BADLY.
I never have a posted stop loss when I'm trading.
Luckily , very luckily , I placed a stop loss at 1.3495 on the USD/CAD approximately 5 minutes before Market close on Friday past. The damage was bad enough , but , it never crossed my mind that it would be triggered.
Thanks to all.
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #35,298
  • Mar 10, 2020 7:19am Mar 10, 2020 7:19am
Guys go easy on CAD or dont trade it.
Just read this news.Was not aware of this.Over night development.

Saudi Arabia escalated its oil price war with Russia on Tuesday, with its state-owned company pledging to supply a record 12.3 million barrels a day next month, a massive production hike to flood the market. The output hike -- more than 25% up on the previous month --

Could be threatening Russians for a deal? Dont think threatening works on Russians...
Crude is holding so far but can change.
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #35,299
  • Mar 10, 2020 7:32am Mar 10, 2020 7:32am
The correlation Crude to Canadian economy is little exaggerated having less then 10% of overall GDP
Thought to throw this out
Fun fact Untied Arab Emirates Dubai most known big city is only 2% of GDP but Saudis is 50% domestic and 70% export revenue.
So Saudis have lot to lose and maybe shooting themselves in the foot

This is why entire Gulf Arab countries and outside the Gulf marvel at Dubai growth.They managed to make a jewel of a city in the desert that does not rely on oil revenue!Its remarkable achievement considering awe inspiring architecture of Dubai
In trading, you have to be defensive and aggressive at the same time
  • #35,300
  • Mar 10, 2020 7:39am Mar 10, 2020 7:39am
Quoting Davit
...One way to overcome this is by varying it slightly so no 2 trades are exact size example 5 55 56 57 etc this way you can maximize profits by taking TP green trade while waiting reds to turn green
Unfortunately, US brokers are starting to take that option away. Some will still allow you to do this on their own trading platform, but not in MT4. But who feels comfortable using the broker's trading platform? I don't.

The only solution I have to counter this is to use more than one MT4 account for the same broker. It's inconvenient, but it works. But it certainly doesn't work as effectively.

Being a US trader has been a frustrating experience.
Learn from your mistakes and march on.
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