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Pivot Trading

  • #38,401
  • Edited 2:35am May 9, 2021 2:22am | Edited 2:35am
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We obey the structure that results from the market's reaction
  • #38,402
  • May 9, 2021 2:52am May 9, 2021 2:52am
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We obey the structure that results from the market's reaction
  • #38,403
  • May 9, 2021 3:00am May 9, 2021 3:00am
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We obey the structure that results from the market's reaction
  • #38,404
  • May 9, 2021 5:06pm May 9, 2021 5:06pm
Ladies and Gents , she's gonna be a hellbanger of a week !!!!!
WE got EGBERT , educating us Forex Troops with an excellent number of articles which are tremendously informative.
Look out Market here we come !!!!!
Let's get after it !!!!!
Thank you EGBERT !!!!!
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,405
  • May 10, 2021 5:13am May 10, 2021 5:13am
I'm watching GBP closely. It seems it's overbought. I Need more confirmation though.
  • #38,406
  • May 11, 2021 11:10pm May 11, 2021 11:10pm
Caught this last night,
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We obey the structure that results from the market's reaction
  • #38,407
  • Edited 7:32am May 12, 2021 3:05am | Edited 7:32am
THIS IS STILL RUNNING,
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We obey the structure that results from the market's reaction
  • #38,408
  • May 12, 2021 8:53am May 12, 2021 8:53am
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Quoting Egbert
THIS IS STILL RUNNING,{image} {image}
Your patience is outstanding I got much to learn still
You should really listen to what Davit says
  • #38,409
  • May 12, 2021 10:22am May 12, 2021 10:22am
Another one,
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We obey the structure that results from the market's reaction
  • #38,410
  • May 12, 2021 11:30am May 12, 2021 11:30am
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We obey the structure that results from the market's reaction
  • #38,411
  • May 12, 2021 12:48pm May 12, 2021 12:48pm
Quoting Ekim7
{quote} Your patience is outstanding I got much to learn still
Ekim7 , from watching Egbert's charts for a number of years , I've learned a tremendously valuable "trading character trait".
I'm not even close to Egbert's mastery of it , as well as Davit's.
The trait that I am talking about is the ability to "...be right , and sit tight".
I still am working on my FOMO (Fear Of Missing Out) , however , I'm a long way from where I used to be because of looking at their charts very carefully.
Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,412
  • May 12, 2021 1:19pm May 12, 2021 1:19pm
Quoting ebitalebi
I'm watching GBP closely. It seems it's overbought. I Need more confirmation though.

watch gpb carefully, something is happening
the highest point comes before the fall
  • #38,413
  • May 12, 2021 2:34pm May 12, 2021 2:34pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Quoting GreenEarth
{quote} Ekim7 , from watching Egbert's charts for a number of years , I've learned a tremendously valuable "trading character trait". I'm not even close to Egbert's mastery of it , as well as Davit's. The trait that I am talking about is the ability to "...be right , and sit tight". I still am working on my FOMO (Fear Of Missing Out) , however , I'm a long way from where I used to be because of looking at their charts very carefully. Regards , GE
Totally agree with you GE! For me it's less FOMO but overconfidence in holding onto losing trades longer than I should. Losses are tax deductible, so no point of holding them longer than I should. Still always learning from the master traders, Davit and Egbert, much appreciation to them as well as other great traders on the forum
You should really listen to what Davit says
  • #38,414
  • May 12, 2021 5:34pm May 12, 2021 5:34pm
Quoting Pivoter
{quote} watch gpb carefully, something is happening
Thanks Pivoter. I've been EG since Monday, a liitle bit FOMO and overconfidence to enter at S61 without price action confirmation. But after cost averaging to S100 and closing some of my positions with loss I'm finally green. don't know how much Pound is going to lose its value but if I see any sign of it getting stronger, I will close my positions. (To me it's a losing trade whether the outcome is green or not because I was down 9% and didn't do anything about it and kept on adding however, after reaching 10% I closed two of my positions with loss and from 7% Pound started to lose its value).
Making money is not difficult in FX, keeping it is.

Best Regards
  • #38,415
  • May 12, 2021 7:31pm May 12, 2021 7:31pm
Quoting ebitalebi
{quote} Thanks Pivoter. I've been EG since Monday, a liitle bit FOMO and overconfidence to enter at S61 without price action confirmation. But after cost averaging to S100 and closing some of my positions with loss I'm finally green. don't know how much Pound is going to lose its value but if I see any sign of it getting stronger, I will close my positions. (To me it's a losing trade whether the outcome is green or not because I was down 9% and didn't do anything about it and kept on adding however, after reaching 10% I closed two of my positions...
Ebitalebi , at least you had the mindset and the intestinal fortitude to admit that the trade was not working and exited. You still have plenty of your account to regain your ground and live to fight another war. Congratulations is in order from my perspective.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,416
  • May 12, 2021 10:44pm May 12, 2021 10:44pm
EU Sell and Buy opportunity, potential H&S on Daily TF
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  • #38,417
  • May 13, 2021 2:04am May 13, 2021 2:04am
Quoting sniperdebt
EU Sell and Buy opportunity, potential H&S on Daily TF {image}
Buy or sell ?
Curious what your decision was sniperdebt.
Green Pips To You ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,418
  • May 13, 2021 2:11am May 13, 2021 2:11am
The pivot fits the harmonics, and the trend line is good.
  • #38,419
  • May 13, 2021 2:27am May 13, 2021 2:27am
Quoting GreenEarth
{quote} Ebitalebi , at least you had the mindset and the intestinal fortitude to admit that the trade was not working and exited. You still have plenty of your account to regain your ground and live to fight another war. Congratulations is in order from my perspective. GE
Thanks GE. But I'm not happy. I did what I have done thousands of times before. I knew it was wrong but I was sucked into the euphoria where anything seemed to me as riskless. As MD said in "Trading in the Zone".:

Quote
Ninety-five percent of the trading errors you are likely to make—causing the money to just evaporate before your eyes—will stem from your attitudes about being wrong, losing money, missing out, and leaving money on the table. What I call the four primary trading fears.

By the way I closed with 3% profit and could save my account. I think I should stand down for now and reflect on what I have just done before doing anything stupid again. Thanks again for suggesting MD's "How to Think Like a Professional Trader" series. I've finished the second part and started the 3rd. I think right now this is what I need more than anything else.

Best Regards
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  • #38,420
  • May 13, 2021 2:46am May 13, 2021 2:46am
Quoting GreenEarth
{quote} Buy or sell ? Curious what your decision was sniperdebt. Green Pips To You , GE
GE, i'm looking for two POTENTIAL head & shoulder in progress. Patience is key

OR ABCD pattern in progress
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