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Pivot Trading

  • #44,321
  • May 13, 2024 8:16pm May 13, 2024 8:16pm
Quoting Windsor2024
Hi, Could you explain why you are short UC (USDCAD)? it's not at any pivot S/R level. I am new to this. Thank you very much! {quote}
Certainly Windsor 2024.
First of all , the UC pair is in a bearish trend which recently seems to be forming a RANGE. However , the Master Trend is still UP{Long).
I entered my short UC trade at the WPP of 1.3687 (short because the current trend is bearish-Trend is your Friend)
I exited my trade late this afternoon at 1.3668 , I did not want to hold this trade overnight since tomorrow's impending News is weighing heavily on this pair , my actual target for today was 1.3650 , but , we didn't get there.
I will wait to see the reaction with respect to tomorrow's News.
If a decent setup emerges , I will trade accordingly.
Cheers ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #44,322
  • May 14, 2024 7:05am May 14, 2024 7:05am
EU seems to be rejected from R61 and it needs to make another lower low to confirm the movement to
the south.
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  • #44,323
  • Edited 9:51am May 14, 2024 8:28am | Edited 9:51am
Euro/usd. Adr red 134 procent
Can be a nice short
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  • #44,324
  • May 14, 2024 10:16am May 14, 2024 10:16am
Does anyone else use OANDA here? Wanted to see if anyone else is able to avoid withdrawal fees with them. The original debit card that I had used to deposit funds has expired and I can't withdraw back to that card because my new card has a new expiration date even though the card number is exactly the same.
  • #44,325
  • May 14, 2024 10:49am May 14, 2024 10:49am
UC really nicely rejected from S38.
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  • #44,326
  • May 14, 2024 11:58am May 14, 2024 11:58am
Hello! great forum, didn't manage to install Davit"s pivot yet.
What do you say about short Nzd, using fib pivot weekly on the 15 min time frame
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  • #44,327
  • May 14, 2024 11:00pm May 14, 2024 11:00pm
NU with A plus bearish setup.
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  • #44,328
  • May 15, 2024 7:09am May 15, 2024 7:09am
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Attached File(s)
File Type: ex4 iGodZilla.ex4   30 KB | 396 downloads

Attached File(s)
File Type: mq4 Magnified Market Price_TRO_MODIFIED_VERSION.mq4   4 KB | 406 downloads

Attached File(s)
File Type: mq4 StandardDeviationChannel.mq4   13 KB | 405 downloads
  • #44,329
  • May 15, 2024 8:20am May 15, 2024 8:20am
Gold
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  • #44,330
  • May 15, 2024 11:06am May 15, 2024 11:06am
GC at an interesting level. R78 ADR
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Successful trading is intrinsic to risk management and discipline
  • #44,331
  • May 15, 2024 12:28pm May 15, 2024 12:28pm
short NZDCAD, NZDUSD,EURUSD， all running into drawdowns. what do we do in this case? they were all at good R/S levels, but still didn't work. Could some experienced pivotor advise?
  • #44,332
  • May 15, 2024 12:37pm May 15, 2024 12:37pm
Quoting wens
{image} {file} {file} {file}
Thanks Wens for sharing indicators, its showing a message " Your indicator is no longer active"
how we can use ?
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  • #44,333
  • May 15, 2024 1:10pm May 15, 2024 1:10pm
Quoting nittohanns
GC at an interesting level. R78 ADR {image}
stopped out, will wait now. May short again if reaches 173
Successful trading is intrinsic to risk management and discipline
  • #44,334
  • May 15, 2024 1:17pm May 15, 2024 1:17pm
Quoting Windsor2024
short NZDCAD, NZDUSD,EURUSD， all running into drawdowns. what do we do in this case? they were all at good R/S levels, but still didn't work. Could some experienced pivotor advise?
You have to do what's right for you and have a plan incase this happens. Consider your account management. You can hold if your account will allow and hope they turn or start to scale out and accept the losses. Your exposed as trading two USD pairs and negative news for the dollar today. No easy answer!
Successful trading is intrinsic to risk management and discipline
  • #44,335
  • May 15, 2024 1:42pm May 15, 2024 1:42pm
Here we come on Davit s advice one of the important s things trade small and cut your trades in pieces to have always have buying power. And hold you money management very clear in sight ... Then over the long run you get nice profits.
  • #44,336
  • May 15, 2024 2:19pm May 15, 2024 2:19pm
Quoting NLtrader
Here we come on Davit s advice one of the important s things trade small and cut your trades in pieces to have always have buying power. And hold you money management very clear in sight ... Then over the long run you get nice profits.
I don't follow this thread, but it appears Davit doesn't post here regularly anymore?
  • #44,337
  • May 15, 2024 2:19pm May 15, 2024 2:19pm
Quoting Windsor2024
short NZDCAD, NZDUSD,EURUSD， all running into drawdowns. what do we do in this case? they were all at good R/S levels, but still didn't work. Could some experienced pivotor advise?
Piece of friendly advice, figure out what kind of trader you want to be before you place any more trades.

If you don't want to trade with a stop loss then have a plan on how you deal with trades that could potentially go 100s of pips against you.

Or trade with a stop loss, which if you do you'll need to learn how to be ok with getting stopped out of good trades.

Pick which ever is the lesser of the two evils to you.
  • #44,338
  • May 15, 2024 3:48pm May 15, 2024 3:48pm
This forum is going over swings and is sometimes very hard with drawdowns
And a money stop loss works better than a hard stop loss ..
You can read al this in his rules ..
Read it over and over again i takes years to become good trust it and yourself
  • #44,339
  • Edited 4:32pm May 15, 2024 3:58pm | Edited 4:32pm
There is no easy money or short cuts ...
When we compare it race cars driver F1
Max and Lewis one of the best drivers
It takes years to become so good,.. training training and training and also with the best cars and also the fastest.. and also they can have engine problems or a flat tire
And you can see it as drawdown ..everything can happen but they are prepared to do it... and go for the long run .. for the points in that year ! .
But they know exactly when they are fast and the tires are warm and good and then it becomes easy for them .. thats experiance.
That takes much time and failure
So you can see nothing is for free in this live
  • #44,340
  • May 16, 2024 4:32am May 16, 2024 4:32am
GC looking more interesting
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Successful trading is intrinsic to risk management and discipline
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