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Pivot Trading

  • #1,821
  • Aug 13, 2016 8:49am Aug 13, 2016 8:49am
Quoting andy_l
{quote} Dear Davit.. Noted and thanks for your info.. basically I traded based on the technical, now need to consider about the fundamental as well.. since fundamental is the one move the market.. (like AU pair last week). I thought we have to cut loss manually, once the trends is against us (just my experience and thought).. Trading need to combined all factors... pheew
Hi Andy_l,

I hope you will find the quote below useful. Unfortunately I can remember the original author, so I could give the deserved credit;

" Traders have to focus on basic market moving fundamentals and a technical analytic, to time the execution of a pre planned viable money managed strategy. Too much of either just get in the way and become distraction. Staying light weighted and nimble is key".

Good luck with your trading.
  • #1,822
  • Aug 13, 2016 5:09pm Aug 13, 2016 5:09pm
Quoting aarontdang
{quote} I have multiple EG short positions with high leverage... I'm hoping it will go down soon else I'll have to cut my positions and accept loss. I didn't see why GBP drop way faster than EU... But looking at strong support on 1.2910 GU ... Hopefully it will hold ... But EU could drop to 1.1140 anytime
Hi High leverage is double edge sword.Works both ways.I prefer slow and study
green pips
In trading, you have to be defensive and aggressive at the same time
  • #1,823
  • Edited 5:30pm Aug 13, 2016 5:16pm | Edited 5:30pm
Some retrospection about last week

Why I think I screwed up by taking trades I didn't feel good about.
AU shorts were mistake! It took too much margin and when NU and NC hit sky high after rate decision I knew it was best time to hit both hard but fking AU held my account hostage and prevented me adding to incredible opportunity.Results were that instead of making 2k pips I end up making 166.
There you go my weekly confession of why I hated AU short trades...
already have very large EG AC NC shorts running and my monthly close should exceed 10% (8% gain already this month)
Below my results so far.
I am posting this so you guys are aware and know I TAKE LOSSES WHEN NECESSARY
Notice the dips and also notice my equity curve after the dips.That's the sipirt move on and proceed and trust that this system pays!
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In trading, you have to be defensive and aggressive at the same time
  • #1,824
  • Edited 7:16am Aug 14, 2016 1:08am | Edited 7:16am
Happy Sunday every one...

It's time to see the trade we've made last week, and analysed why do we take position.. (self introspection)
I wish I can become a full trader someday, and forget about the routine job.. no need to see the boss anymore...
and be the boss of our self, have more free time with family..

Coming week we have a red news for USD & CAD.. Hope you all full with green pips

Quoting ayoayo
{quote} " Traders have to focus on basic market moving fundamentals and a technical analytic, to time the execution of a pre planned viable money managed strategy. Too much of either just get in the way and become distraction. Staying light weighted and nimble is key". Good luck with your trading.
thanks for the quote..
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #1,825
  • Edited 3:10am Aug 14, 2016 1:26am | Edited 3:10am
I intend to hold longer but price spiked up and it hit the margin call.
Well I should place my positions more carefully next time. Show must go on.....


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  • #1,826
  • Aug 14, 2016 1:34am Aug 14, 2016 1:34am
Quoting inforserve
I intend to hold longer but price spiked up and it hit the margin call. Well I should place my positions more carefully next time. Show must go on.....
Me the same.. on AU last week, due to overconfidence and overtrade..
Margin Call... Lesson learned..

The market will still be there for you..
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #1,827
  • Aug 14, 2016 4:19am Aug 14, 2016 4:19am
Quoting inforserve
I intend to hold longer but price spiked up and it hit the margin call. Well I should place my positions more carefully next time. Show must go on..... {image} https://www.youtube.com/watch?v=yPKlrRwJB8A https://www.youtube.com/watch?v=Q8RYJh6d0l0
I use this free indie to keep an eye on Leverage Used and DD%
Personally I'd keep the DD under 10%
http://goo.gl/2kh2Rm
  • #1,828
  • Aug 14, 2016 2:18pm Aug 14, 2016 2:18pm
AU short closed.. I need tO saved my profit first..
  • #1,829
  • Aug 14, 2016 6:26pm Aug 14, 2016 6:26pm
my currnt position..
this morning i manually stopped my EG about -290 pips (4 digit broker), but i take a new short with a tight SL. i dont want more loss from this pair.. if this one fail, im out from EG.

also im long GU since last week closing day, also with tight stoploss.. wishing to 'pop' UP..

right now i study all forex major charts, and i see that those price will visit the lastweek pivot first today. but i know nothing about fundamental.
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  • #1,830
  • Aug 14, 2016 6:44pm Aug 14, 2016 6:44pm
Quoting dnl
my currnt position.. this morning i manually stopped my EG about -290 pips (4 digit broker), but i take a new short with a tight SL. i dont want more loss from this pair.. if this one fail, im out from EG. also im long GU since last week closing day, also with tight stoploss.. wishing to 'pop' UP.. right now i study all forex major charts, and i see that those price will visit the lastweek pivot first today. but i know nothing about fundamental. {image} {image}
-290 Pips ... That's a lot of wrong there... I'm just saying if you're wrong about 50-80 pips ... Meaning you're just wrong
  • #1,831
  • Aug 14, 2016 7:01pm Aug 14, 2016 7:01pm
NZD/USD H4. Looking for a bounce south from WP/BRN .72000 area down to S38. Wishing all a profitable week.

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'Fail to plan, plan to fail'
  • #1,832
  • Aug 14, 2016 8:18pm Aug 14, 2016 8:18pm
Quoting aarontdang
{quote} -290 Pips ... That's a lot of wrong there... I'm just saying if you're wrong about 50-80 pips ... Meaning you're just wrong
Hi Aaron, those pips comes from several short positions, i have post my chart last week. Many ppl still holding their EG DD positions. I cut them because i don't want more damage to my acc. When EG falls i will be happy to enter another short.
 
But at the moment i hope GU will pay my EG loss.
  • #1,833
  • Aug 14, 2016 8:44pm Aug 14, 2016 8:44pm
Quoting dnl
{quote} Hi Aaron, those pips comes from several short positions, i have post my chart last week. Many ppl still holding their EG DD positions. I cut them because i don't want more damage to my acc. When EG falls i will be happy to enter another short. Â But at the moment i hope GU will pay my EG loss.
I'm still down on both EG short and GU long... Stupid entry.... I got hit from GU fake spike up then all the way down .... Shoulda hold my GU short and UC long on Friday morning... Should stop trading on Friday
  • #1,834
  • Aug 15, 2016 12:05am Aug 15, 2016 12:05am
Quoting aarontdang
{quote} I'm still down on both EG short and GU long... Stupid entry.... I got hit from GU fake spike up then all the way down .... Shoulda hold my GU short and UC long on Friday morning... Should stop trading on Friday
Yeah. Fridays, and to some extent Mondays too, are usually not profitable. Only the computers trade on Fridays, and even a lot of algorithms are programmed to stop trading then. Liquidity is thin and if any big orders do come in they can often spike the market.
Better to run, than curse the road
  • #1,835
  • Edited 2:49am Aug 15, 2016 1:28am | Edited 2:49am
Oil into the R38 level. Strong rally last week, so it's likely due for a retracement. Awaiting break below 46.9 and PA confirmation on entry.

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UPDATE: And down we go

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Better to run, than curse the road
  • #1,836
  • Aug 15, 2016 6:06am Aug 15, 2016 6:06am
Tight SL triggered both GU and EG. Im out
  • #1,837
  • Aug 15, 2016 10:07am Aug 15, 2016 10:07am
Got brutally whipsawed out of two near perfect EA and UC trades today. I hate Mondays. How's everyone else doing?
Better to run, than curse the road
  • #1,838
  • Aug 15, 2016 10:34am Aug 15, 2016 10:34am
Quoting steve2010
Got brutally whipsawed out of two near perfect EA and UC trades today. I hate Mondays. How's everyone else doing?
Took 2 trades today - on the way up & then down (18 + 13)

Very slow (sick) Monday. A lot of forex movement belies fundamental basis or reasoning.

Steve Im guessing you bought EA @ Pivot and went long UC @ S38?

Cheers
MR
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Silence your Ego & Your Power will Rise
  • #1,839
  • Aug 15, 2016 12:10pm Aug 15, 2016 12:10pm
Quoting mraam
{quote} Took 2 trades today - on the way up & then down (18 + 13) Very slow (sick) Monday. A lot of forex movement belies fundamental basis or reasoning. Steve Im guessing you bought EA @ Pivot and went long UC @ S38? Cheers MR {image}
Yeah Sold EA at R38 when it looked like it was a double top breaking down. Got to +1 RR and then it ran back to BE very quickly. Some of the markets in Europe were closed today, so I guess I shouldn't have been so surprised
Better to run, than curse the road
  • #1,840
  • Aug 15, 2016 3:02pm Aug 15, 2016 3:02pm
Quoting steve2010
{quote} Yeah Sold EA at R38 when it looked like it was a double top breaking down. Got to +1 RR and then it ran back to BE very quickly. Some of the markets in Europe were closed today, so I guess I shouldn't have been so surprised
Nice trade Steve. Oil could test 44-43 Market is stalling because of lots of news ahead.
In trading, you have to be defensive and aggressive at the same time
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