Pivot Trading

Took the loss on GC and basically made the loss back and some less then 12hours. Should I held on? Well in retrospect price hit my starting point however there was no way of knowing that when I took the loss and price easily could of gone below 61 and loss would of been 2x larger.Another thing loss allowed me my margin back thus allowing me to trade normally.When you are practicing good trading habits then retro analyzing is pointless.Point is I did what was necessary to protect the account and that's most important! If you ever blown an account (who hasn't?)you know exactly how that feels and why its important to keep losses in check.

been massively in drawdown with EG and other pairs since february 1st. I had to bring a lot of patience with me and now it looks a lot better.

GU approaching adr high

I would not short GU specially GDP coming up.That's just me
overall sentiment on USD is starting to get bearish. I am more inclined to sell USD on rallies

Will see if it gives some nice rejection off the piv with ADR high. But yeah your right not an A+ trade for sure.

closed some more CJ

10.30 gas event which usually effects commodity pairs CAD AUD NZD in this order of importance.
LOve to see CJ rally again so I can short again

Took AN short again.Think it has good shot of reaching 950. 20pips south or lower
If you look at AU she is at exhaustion point

Today is not home run day its more like small grinding day.$ 673 so far not bad for grinding

pizza analogy

10 dollars a pizza 67 pizza and that's a lot of pizza then take 10C as profit 90C running business cost. Net profit $67 dollars
That gives you a perspective

from former pizza shop owner

After two years of cutting my teeth, “stealing” time away from both my family and my employer, and sacrificing everything I had save for my children’s college funds, this is what I found out.
People love pizza. People love good pizza. People also don’t mind marginal pizza. While I had many loyal customers, I have no doubts that many still frequented the cheaper pizza places on occasion as well. There is no loyalty.
Speaking of cheaper pizza, which mine was not; there are large pizzas to be had for $7–13 all over the place, and those guys deliver too! My large was $16–20 depending on toppings. My ingredients were some of the best you could find. My dough was handmade, my cheese was freshly grated, I had my food rep source me the best sausage and pepperoni that could realistically be had. etc. People.dont.care! People don’t give a damn!
Add to all this: employee wages, food costs, utilities, taxes, rent, more taxes, insurance, advertising, maintenance and oh yeah, more taxes…. it’s a losing battle. Literally from the moment you turn the lights on, you are getting gut punched left and right. Employees will steal (not all, but some will) Your landlord doesn’t give two shits that you had a bad month, he still wants his $8800. Food costs constantly go up. My wife and I had a rule, we paid everyone else before us. Well, spoiler alert, we didn’t get paid!!!!!
I made great pizza, customers loved us and our recipes. But the model is broken. The sit down pizza shop is DEAD.
If I were to do it again, I would go 100% delivery, run the business from a commercial kitchen, and do all delivery/catering and no sit down. I would run the place myself, with one or two very well paid helpers. That would be it!
Commercial kitchen $3000 a month. Restaurant with dining space $6000–15000. The world has changed.
In closing, sorry if I sound bitter, I could write a book, but I won’t. I learned some very good lessons owning pizza shops, but I also learned I care too much and want quality to be higher than the market can accept. I demand excellence from my employees, and seldom ever got it.
I was the best employee we had, and that’s NOT a business! I had merely spent $175k to have a non-paying job……

Same for me to. Looking much better now. Patience paid off.

Some trades in the past days and today
EC trade ended way too early, albeit structure on the 4 h told me it was in no man's land and structure was super bearish thus the decision to cut.
EU trades came along more nicely.

GU paid out

I had something similar at the EU, towards the end of the year. Patience was important, but I gradually got the hang of it. Because the price hadn't come down yet...

yes, I entered also but came out early. like always.

Going for GC, i think now it has a potential to go down.

Perfect on spot entry...!!

He's got great input in general if you look at what he puts in here. For me, thumbs up, zero DD

[quote=Egbert[/quote]

When you entered, did you take divergence into account? As an additional factor to enter, thanks

Divergence is not part of the system moreover its total bogus crap.Has zero relevance about what price is doing.Its how oscillator calculates price past history.Note calculating past history.It has zero factor for what price may do.
You can't repeat you cant and should not use any oscillator's calculation for trading decisions.Forces that move price dont gives a shit what retail trader's oscillators do.Its one of the reasons why 95% retail traders lose money because they think there is something magical about Oscillators MA's etc.Zero factor.
There is zero evidence some big bank dropped billion dollar Euro trade because there was divergence or oscillator showed something.Zero!Forces that move price look at fundamentals ,S/R levels and liquidity pools.

You're after me :-)

I know, you wrote it in the tutorial where you replied to this, but you can't deny that divergences (whether one trades them or just watches them, I know people who only ride them.) have a certain meaning and can help in case of entry uncertainty and yes, it depends on the TF, because what this one shows, doesn't show etc...I know... It's not the momentum, it's the strength of the currencies, there is nothing else for the acquaintance who only trades the strength of the currencies.

As someone wrote, Pivots are such an unwritten rule that many people trade by, they just aren't as talked about or as popular as millions of other indicators that are based on the past... as you write.

There is zero evidence some big bank dropped billion dollar Euro trade because there was divergence or oscillator showed something.Zero!Forces that move price look at fundamentals ,S/R levels and liquidity pools. = yes !