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Pivot Trading

  • #35,381
  • Mar 13, 2020 10:05pm Mar 13, 2020 10:05pm
Hi guys
I need to take a week or two off.Lot going on personal life and trading.
Need to recharge myself.
My haters will rejoice but its not what they think about you its what you think about yourself.
Stay green
In trading, you have to be defensive and aggressive at the same time
  • #35,382
  • Mar 14, 2020 4:49am Mar 14, 2020 4:49am
Looking at EA. I closed my last short at 1.6844 (which atm was 1100 pips ago). Closed my first positions at 1.6613. In hindsight I let it run too long, should've closed all at 1.6613. Something to learn here and practice - never be too confident that it goes your way. It may or may not.

Fortunately I didn't get caught by "Black Monday", just because I took time off after EA loss. I only traded small amounts of CJ and GC and closed before weekend. It could have been easily the other way around. Therefore I lowered my position sizes significantly until this mess over oil and virus is over.

Atm sitting here in quarantine ... how else you call it if schools, movie theaters, gyms, spas etc are closed. Just glad I can work from home, something that not everyone can do. But if we survived plague in 16-17 century without any medicine and medical skills, we'll survive this shit as well
  • #35,383
  • Mar 14, 2020 7:09pm Mar 14, 2020 7:09pm
Being a trader is...
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"The freedom of the other extends mine to infinity"
  • #35,384
  • Mar 15, 2020 12:14am Mar 15, 2020 12:14am
Quoting Davit
Hi guys I need to take a week or two off.Lot going on personal life and trading. Need to recharge myself. My haters will rejoice but its not what they think about you its what you think about yourself. Stay green

hey Davit

take two weeks and the market will still be the same and waiting for you.

I won't be holding positions over the weekends as of last week. I close all positions just when London session close.

Look at the E-Mini Futures market and this is the opportunity to make some money while the world stock markets is in turbulence. Trade very short term below one hour duration and never more than 4 hours.

Stay healthy and be safe!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,385
  • Mar 15, 2020 12:16am Mar 15, 2020 12:16am
Quoting 1pipperhour
Looking at EA. I closed my last short at 1.6844 (which atm was 1100 pips ago). Closed my first positions at 1.6613. In hindsight I let it run too long, should've closed all at 1.6613. Something to learn here and practice - never be too confident that it goes your way. It may or may not. Fortunately I didn't get caught by "Black Monday", just because I took time off after EA loss. I only traded small amounts of CJ and GC and closed before weekend. It could have been easily the other way around. Therefore I lowered my position sizes significantly...

yes, we human will survive this one.

there is plenty one can do while being lockdown.

Be Safe and Be Happy.

https://www.forexfactory.com/showthread.php?t=986448
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,386
  • Mar 15, 2020 3:29am Mar 15, 2020 3:29am
The next few months not looking good for Australia. We understand that COVID-19 is affecting economies around the world in a negative way

1. Airlines (Travel industry) is the biggest to be effected by COVID-19 - Travel bans in place by most of the countries. The oil price will be affected because of fewer flights.

2. Hospitals are and will be affected as new cases arise. Doctors, nurses, and caretakers will be key components during this crisis.

3. Panic buying will still exist for a few months, I guess as more and more extreme measures being put in place by the government.

4. Almost all sporting events will be canceled which is another negative on the food and hospitality industry.

5. Don't be scared to see the data to be bad in the coming months.

6. The fewer cases of COVID-19 in countries will be depended on how strong the preventive measures were put in place by countries.

7. Minimizing the spread is the only best option for all of us until vaccine is discovered.

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Best regards
  • #35,387
  • Mar 15, 2020 4:59am Mar 15, 2020 4:59am
I closed everything taking heavy losses in March (a total of -21%). My decision to close everything is for the entire situation and the present situation in the markets. Just look at the crazy ADR on the pairs.
In less than one week I saw first a shutdown of the majority of Northern Italy and then a total shutdown of the entire Nation. Here everything is insane since last week, everyone is at home, you see no cars, in the supermarkets only two people per time can enter, schools closed, sports stopped, ... Totaly insane. I've never seen something like this.
Now, in the recent days other Nations are following Italy to shutdown everything, so sincerely I don't know what to expect.
Although I think that in one week the peak will be reached in Italy, we don't know if the worst has yet to come.
I could say something about the delusion regarding the UE, ECB and other things about their actions, but I won't because it would be useless, but honestly I don't see a bright future for UE.
A lot of considerations and reflections has to be done regarding all this situation, our methods, our approachs. We trade in a great way, seeing lots of people here accumulate 10%s month after month is incredible and I'm really proud to be part of this group.
I survived to the flash crash and considering what is happening and that flash crash maybe -21% is not so bad. Anyway I will take some time apart to recover my mental energies and then to push forward more than ever. It will require one week, two week, one month, I don't know, but after this period I will come back stronger than ever. In my life bad events have always been a turning point in which I developed the right skills and the right mindset to do a step forward, but I think that is true for many people.
I would like to end this post a recent quote of one of my main source of inspiration and motivation.
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Give me a lever long enough and a place to stand, and I will move the Earth
  • #35,388
  • Mar 15, 2020 8:01am Mar 15, 2020 8:01am
Hi Guys
Been working on creating some filter in addition to pivots making trading lot more easier and error free and profitable.I think at present it needs it.
Will check back max 2weeks with live testing on filters.Nothing in trading is new its how you put together.
Thank you
In trading, you have to be defensive and aggressive at the same time
  • #35,389
  • Edited 8:49am Mar 15, 2020 8:24am | Edited 8:49am
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We obey the structure that results from the market's reaction
  • #35,390
  • Mar 15, 2020 10:13am Mar 15, 2020 10:13am
Quoting Davit
Hi Guys Been working on creating some filter in addition to pivots making trading lot more easier and error free and profitable.I think at present it needs it. Will check back max 2weeks with live testing on filters.Nothing in trading is new its how you put together. Thank you
Honestly I have noticed something has changed here recently. I think people have forgotten the order of things. It is PA 1st and foremost, then at key pivot levels secondary. What is price actually doing, not what is expected to do.

There’s been too much reliance at x levels without consideration of PA. If price is blowing past certain levels, there needs to be sound rejection before taking the trade. If it fails then time to GTFO.

Black swan events will disrupt whatever TA has worked in the past. Also being aware of over all market conditions and how that may affect potential trades.
Trade with confidence, trade without fear.
  • #35,391
  • Mar 15, 2020 11:58am Mar 15, 2020 11:58am
Quoting Cryptosurf
{quote} Honestly I have noticed something has changed here recently. I think people have forgotten the order of things. It is PA 1st and foremost, then at key pivot levels secondary. What is price actually doing, not what is expected to do. There’s been too much reliance at x levels without consideration of PA. If price is blowing past certain levels, there needs to be sound rejection before taking the trade. If it fails then time to GTFO. Black swan events will disrupt whatever TA has worked in the past. Also being aware of over all market conditions...
Agree with you but I think I am going to change slightly for better.Its up to anyone to follow suit.Not going to enforce or anything.
cheers

Comments on Australian economy is followed by New Zealand imposing similar restrictions on COVID 19
Its going global.
Here in Boston almost everything is shut down.Small business owners are going to be hurt hard.My sister in law has her own hair saloon and was forced to close and with rent on business and her apartment she is in panic mode.She is among millions now in same situation.If it continues more then 3months we are going to see bankruptcies in thousands ...Its all gloomy now.
I hope vaccine becomes available fast.I am trying to stay healthy and going to do lot more ART.Finances are very tight...
In trading, you have to be defensive and aggressive at the same time
  • #35,392
  • Mar 15, 2020 12:55pm Mar 15, 2020 12:55pm
Our top virologists say that vaccine will be available not before the end of the year. By closing borders, schools, etc we are just diminishing human contacts so virus cannot spread and eventually just dies. Last SARS attack lasted 7 months, from November to May. This one started on December...

I just hope that measures are drastic enough to conquer this fucker sooner than 7 months.
  • #35,393
  • Mar 15, 2020 2:41pm Mar 15, 2020 2:41pm
Those who went long AN at around 250 myself...
Looks like AN opining up with gap up. NZD took a hit as well on Covid 19 restrictions
If more funds become available I like to build this up further. 350+possible this week.
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In trading, you have to be defensive and aggressive at the same time
  • #35,394
  • Mar 15, 2020 2:42pm Mar 15, 2020 2:42pm
Quoting Davit
Those who went long AN at around 250 myself... Looks like AN opining up with gap up. NZD took a hit as well on Covid 19 restrictions {image}
Hi

Where can we have a look at the rates?
We obey the structure that results from the market's reaction
  • #35,395
  • Mar 15, 2020 2:45pm Mar 15, 2020 2:45pm
#ppxdf,

Can you please maybe share an update on the different rates?

Thanks.
We obey the structure that results from the market's reaction
  • #35,396
  • Mar 15, 2020 2:52pm Mar 15, 2020 2:52pm
Quoting Egbert
#ppxdf, Can you please maybe share an update on the different rates? Thanks.
https://www.investing.com/currencies...rrency-crosses
In trading, you have to be defensive and aggressive at the same time
  • #35,397
  • Mar 15, 2020 2:55pm Mar 15, 2020 2:55pm
Quoting Davit
{quote} https://www.investing.com/currencies...rrency-crosses

Thanks.
We obey the structure that results from the market's reaction
  • #35,398
  • Mar 15, 2020 3:06pm Mar 15, 2020 3:06pm
RBNZ just reduced rate to .25
Wow before market open.Cool I am long AN
https://www.rbnz.govt.nz/news/2020/0...next-12-months
In trading, you have to be defensive and aggressive at the same time
  • #35,399
  • Mar 15, 2020 3:26pm Mar 15, 2020 3:26pm
Quoting Davit
Hi Guys Been working on creating some filter in addition to pivots making trading lot more easier and error free and profitable.I think at present it needs it. Will check back max 2weeks with live testing on filters.Nothing in trading is new its how you put together. Thank you
Hi Davit

You are right: Nothing in trading is new...
I know you to be a creative person.
We just need to adjust to the changing market type conditions and must adapt vary quickly during times like this when trading spot forex market.
During this coronavirus market season, I think traders need to avoid holding open positions over the weekend..i.e. open and close within the same week. I used to hold positions up to two weeks but not anymore in current market conditions.

Trading E-Mini Futures, I don't hold my positions overnight. In fact, I don't trade and hold positions between two different market sessions. When I trade the London session, I would close positions just before US opens. Most trade duration last one hour trading the 1-minute or 2-minutes charts for entries. Trading 15-minutes chart entries, I hold maximum 4 hours.
Trade results - 6 week Feb 03 to Mar 13.

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checkk out some of the Futures traders here:
https://www.elitetrader.com/et/threa...market.341646/
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,400
  • Mar 15, 2020 3:37pm Mar 15, 2020 3:37pm
Quoting emmanuel7788
{quote} Hi Davit You are right: Nothing in trading is new... I know you to be a creative person. We just need to adjust to the changing market type conditions and must adapt vary quickly during times like this when trading spot forex market. During this coronavirus market season, I think traders need to avoid holding open positions over the weekend..i.e. open and close within the same week. I used to hold positions up to two weeks but not anymore in current market conditions. Trading E-Mini Futures, I don't hold my positions overnight. In fact,...
Thanks EM I sure traded very poorly during this crises.Yes could of done lot of things better.Thanks for advises specifically weekend holding...
Nice gains! Well done
In trading, you have to be defensive and aggressive at the same time
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