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Pivot Trading

  • #38,961
  • Edited 4:30pm Aug 16, 2021 3:36pm | Edited 4:30pm
Hey Wags and Davit,

Personally, I too like to spread my risk with perhaps 2 to 4 currencies and very small trades as I grow my account's equity again due to pulling out funds for emergency medical bills - thus, I watch to keep DD and risk relatively low and using a soft SL level. This is similar to Stock trading strategies to disperse risk in the older traders - that's me ... lol. Thus, middle age or younger traders can take biger risks to build their total equity as they still have a longer time to take more trades on 1 to 2 currencies with an edge to increase probility of P/L :

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Critiques are welcome.
Regards,
-John
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #38,962
  • Edited 5:12pm Aug 16, 2021 4:39pm | Edited 5:12pm
Quoting DrForexMD
Hey Wags and Davit, Personally, I too like to spread my risk with perhaps 2 to 4 currencies and very small trades as I grow my account's equity again due to pulling out funds for emergency medical bills - thus, I watch to keep DD and risk relatively low and using a soft SL level. This is similar to Stock trading strategies to disperse risk in the older traders - that's me ... lol. Thus, middle age or younger traders can take biger risks to build their total equity as they still have a longer time to take more trades on 1 to 2 currencies with an...

Hi john

I need to do it like this atm as its not an instinctive reaction for me which is frustrating as i am an instinctive person who has always made choices from flair, but i am only 5 to 6 weeks in atm

I need to spread my risk across likewise setups

Wags
  • #38,963
  • Aug 16, 2021 5:31pm Aug 16, 2021 5:31pm
Quoting Wags
JPY pairs are getting into nice positions {image} {image} {image} {image} {image}
if Afghanistan situation turns worst YEN could be a safe haven
  • #38,964
  • Aug 16, 2021 5:39pm Aug 16, 2021 5:39pm
Quoting mixedbags
{quote} if Afghanistan situation turns worst YEN could be a safe haven
nobody cares about Afghanistan except Taliban who prefer keeping their women wrapped head to toe and get back to 7th century.
US mistake was wasting trillions to change their mind.Huge mistake
In trading, you have to be defensive and aggressive at the same time
  • #38,965
  • Aug 16, 2021 6:00pm Aug 16, 2021 6:00pm
Quoting Davit
{quote} nobody cares about Afghanistan except Taliban who prefer keeping their women wrapped head to toe and get back to 7th century. US mistake was wasting trillions to change their mind.Huge mistake
Now the S Korean, Japanese, Filipinos are worry that USA can just drop their ally like shit
  • #38,966
  • Aug 17, 2021 4:35am Aug 17, 2021 4:35am
Quoting Davit
{quote} You are making classic mistake. Dont trade same currency on different pairs choose best one.What you are doing compounding risk.Should Yen continue to gain you will be in DD in 4pairs. Personally I like CJ best and CAD events this week look good. Regards
always excellent trading basics and tips, davit
the highest point comes before the fall
  • #38,967
  • Aug 17, 2021 5:06am Aug 17, 2021 5:06am
Quoting R61
Closed GC +213 {image}Watching to reload on GC (currently at R38) and load on EC (approaching R78)
Closed another batch on GC +110
Attached Image
Loaded shorts on EN EA and long on CJ.
"In the end you only trade yourself."
  • #38,968
  • Aug 17, 2021 5:12am Aug 17, 2021 5:12am
unexpected development NZD new covid cases and possible shutdown and this may put holt on rate hike and why NZD was dumped heavily.
Glad did not touch it.Well my motto is where there is carnage there is opportunity
EN looks severely over stretched 170 should become strong R
In trading, you have to be defensive and aggressive at the same time
  • #38,969
  • Aug 17, 2021 5:15am Aug 17, 2021 5:15am
Quoting R61
{quote} Closed another batch on GC +110 {image}Loaded shorts on EN EA and long on CJ.
great trading sticking with 1 or 2 pairs and selling the mini rallies! Great job
In trading, you have to be defensive and aggressive at the same time
  • #38,970
  • Edited 9:07am Aug 17, 2021 8:33am | Edited 9:07am
Happy to be here again, and see that there is still people that was 1-2 years ago. My discretional trading is very limited as 95% is algoritmic, but my method stick with Pivot and liquidity zone of retail stops. I will start to post again about my entries. EC and CY (especially) are my current entries
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Avoid the crowd. Be chess player, not chess piece
  • #38,971
  • Aug 17, 2021 8:43am Aug 17, 2021 8:43am
I know Davit recommended not take AUD trades yet, but i liked those spikes on H4
I Started to build a small position

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- If you plant corn, you get corn
  • #38,972
  • Aug 17, 2021 10:13am Aug 17, 2021 10:13am
Quoting Mastropiero
I know Davit recommended not take AUD trades yet, but i liked those spikes on H4 I Started to build a small position {image}
There is a reason why Davit did not recommend this pair to be traded at this time. time is going to reveal the real reason. just look at the D1 chart and you will appreciate his advise a bit more than you did so far my friend.
Money is a part of what turns you into who you are.
  • #38,973
  • Aug 17, 2021 11:07am Aug 17, 2021 11:07am
Quoting koziolq
{quote} There is a reason why Davit did not recommend this pair to be traded at this time. time is going to reveal the real reason. just look at the D1 chart and you will appreciate his advise a bit more than you did so far my friend.
Real reason for me is AUD unemployment projection is red and with covid shut downs could be even worse then 5%
So market IMO will continue pricing in the red news.That's tomorrow night.Could EA drop 50-70pips until then sure or could reach 162+
AS great late Mark Douglas would say "anything is possible in the markets"

Trading small is ok for scalping....if wrong no real damage

My biggest trade for the month is CJ long.Waiting.Could start ascend after Feds.
In trading, you have to be defensive and aggressive at the same time
  • #38,974
  • Aug 17, 2021 11:14am Aug 17, 2021 11:14am
ATM USD is being priced in for bull Feds but with Delta Covid issue I believe Feds will be less hawkish and more cautious setting up rabid corrections on USD
so anticipating all majors to gain on USD after the Feds tomorrow except UJ.
In trading, you have to be defensive and aggressive at the same time
  • #38,975
  • Edited 12:56pm Aug 17, 2021 11:23am | Edited 12:56pm
Quoting Davit
{quote} Real reason for me is AUD unemployment projection is red and with covid shut downs could be even worse then 5% So market IMO will continue pricing in the red news.That's tomorrow night.Could EA drop 50-70pips until then sure or could reach 162+ AS great late Mark Douglas would say "anything is possible in the markets" Trading small is ok for scalping....if wrong no real damage My biggest trade for the month is CJ long.Waiting.Could start ascend after Feds.
I am loaded on CJ, closed other JPY pairs for a small profit
  • #38,976
  • Aug 17, 2021 12:51pm Aug 17, 2021 12:51pm
Quoting Davit
{quote} Real reason for me is AUD unemployment projection is red and with covid shut downs could be even worse then 5% So market IMO will continue pricing in the red news.That's tomorrow night.Could EA drop 50-70pips until then sure or could reach 162+ AS great late Mark Douglas would say "anything is possible in the markets" Trading small is ok for scalping....if wrong no real damage My biggest trade for the month is CJ long.Waiting.Could start ascend after Feds.
Thats exactly what I had in my mind, one of the things that I have learned over the years when trading with you is patience.. and entry at the right time. Not see the point sitting in DD hoping for the market move in my favour. EA has a lot of room and I would rather wait and enter the market when the 'clear' indication gives me the hint.

Safe trading
Money is a part of what turns you into who you are.
  • #38,977
  • Aug 17, 2021 1:06pm Aug 17, 2021 1:06pm
JPY pairs look primed for a big retrace

EJ looks very nice

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  • #38,978
  • Aug 17, 2021 1:07pm Aug 17, 2021 1:07pm
Quoting koziolq
{quote} Thats exactly what I had in my mind, one of the things that I have learned over the years when trading with you is patience.. and entry at the right time. Not see the point sitting in DD hoping for the market move in my favour. EA has a lot of room and I would rather wait and enter the market when the 'clear' indication gives me the hint. Safe trading
DD is definitely the key with trading for me
  • #38,979
  • Aug 17, 2021 1:51pm Aug 17, 2021 1:51pm
Surely sharp turns must come for JPY pairs soon?
  • #38,980
  • Aug 17, 2021 2:33pm Aug 17, 2021 2:33pm
Quoting Davit
unexpected development NZD new covid cases and possible shutdown and this may put holt on rate hike and why NZD was dumped heavily. Glad did not touch it.Well my motto is where there is carnage there is opportunity EN looks severely over stretched 170 should become strong R
Interesting that New Zealand went into level 4 lockdown beause of one single case of covid, only 3 days lockdown though

1st case of delta variant
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