Pivot Trading

I was in EU too but got out with a small loss. Price shot through the first zone, S61-S100, and seems to be going for S138-S161.

+9 Pips on EA on a very late entry. Had no time to check eariler and also got my head stuck into the EU trade against the trend. I have a talent for that.

+25 Pips on Ea and counting. I wish I paid attention to Davit's entry rules on all pairs instead of getting distracted by E/U downslope.

dttsomh,
Looking good on the EA, but if you are worried about the EU trade then you probably have to reduce your lot size, remember the psychological part of trading can be tough. reduce the lot size and you feel more comfortable with the trade.
For me in the EU Im still waiting for the price to come down to so I can get in with more armies, but if the price should go against me with another 50 pips, so let it why? Because its a probability game and I trade smaller lot sizes

good post
Welcome!

UJ at all psychological level close to 104
Previous swings got rejected

ok guys let me put this out there

I have been always recommended to trade small.That's to control the trade properly.
Let me give you an example if you have 2k account and your Euro trade is -$300 that should of been cut way earlier at -100 max.I can't manage your account but we are dealing in Forex that anything can happen.
I have been very transparent and open and have mentioned there is 30% chance given sample size pivot zone 61-100 does not hold.Usually happens on strong fundemetal factor like today Feds minutes.Other then that there are losses on every system.Its just part of trading.
I am up for the month +11.5% and if I have to give back 5% that's totally fine by me.I accept the risk from beginning.I mean I accept that anything can happen and prepared to deal with it.
I don't know the future.Euro could sky rocket after the minutes or tank to 09.You have to assess your risk tolerance why I insist trade small.
Mike here took a -900pip loss on EG.While that might be decent size loss but I give him huge kudos for doing it.He dealt with it and moved on.You got to manage your trades.
Posting you are xxx pips in DD does not help anyone.Only you know what that means in relation to your account

Let me share what I do once again which I think is lot better SL then hard SL
1.You decide you want to trade EU
2.You set a budget say 3% risk of your account $300
3.You break lot to mini lots so that would give you 5-6 entries
4.Wait for proper set up
5. Place orders in gradual way and assess if its working or not.If not get out before you hit your budget but if it does have a chance to work stay and place more entries.Your SL is your budget NOT PIPS once you hit -300 you are out.That could be 200+pips distance which usually does not happen often.This is what I do

Setting a budget for the trade gives you psychological preparedness that you already accepted the risk before even placed a trade.
This way there is no ambiguity you know what you are getting into.This is trading dealing with loss is crucial part of it.
regards

Want to add also
In any given trading method you must give it at least minimum 3 months to see the true result.
Large sample size.Reason lot of traders fail is not because of systems but not staying long enough with any system to see the result.They take 5 losses and move on to next then take another 3 losses then move to next.Takes time to learn a system.You have to stick with it and become master of it then trading becomes ridiculously easy.
So there is a good chance 95% of posters here won't be here in 3months.I just know from experience and its not because system is not profitable.Mostly its traders ineptness dealing with risk.Main reason why I have a disclaimer on 1st page 2 yr experience because its very likely after 2yrs you know what risk is.
So stick with this or move on to another system but honestly its not about systems its understanding what probability edge is about.Most don''t understand this concept clearly which is why I insist people to watch Mark Douglas videos.The guy is brilliant and had been true trader for decades and knew what he was talking about.
Stay strong and positive.

below my results last 4months.My account only shows max 4months back.
sharp curve up was funds added. did that twice.

this chart shows why buying EU makes some DD.
but hopefully it ran out gas now.

trade safe..

Here is my EA chart
Obvious that we are in great place in terms of probability Edge.Look at the previous swings.Would I panic if it drops another 50-75pips south? No.I know this baby will be heading north soon. Could test 38R again and that's 200+pips from here
-150pips is literally nothing to me.I have no stress or worry about this batch of trades.Why? because has not even scratched my budget for this trade.That's how ideally you should trade.Have enough budget lots vs account and risk % that you can relax and allow the trade to develop

DAX again.Had a suspicion) that the price was going to run to S38,but the market had different plans for the moment. All positions closed at breakeven. Tomorrow market will be on its usual place as me too))
Have a great evening all!!

Davit due to your recommendation) was drinking Akhtamar yesterday, one of the toasts was for your health The rest half of the bottle is waiting for me at home for the moment))Cheers!!

My hunch is that Feds or Yellen won't rock the boat on election month ahead.If she drop the hike word and markets go extreme dumping usually happens with stocks when dollar gets too strong Democrats risk losing the election still 1 more debate coming up.Yellen is a flying liberal
I think she will be very vague as usual.

Hey Davit love that brandy! Enjoy rest of it.You don't trade forex anymore?cheers buddy

Dear Davit, thanks for this system which has been helping recover my losses. Thanks Ayour2a

You welcome! stick around give it a real go for 3months.You will be pleased.
regards

UJ is in nice spot watch PA don't short automatically

Nice high probability set up from day open its 103 traveled up average this pair is at 80.Its most likely out of gas.
AJ

First target attained.

good job

Thank you.