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Pivot Trading

  • #4,301
  • Oct 20, 2016 11:36pm Oct 20, 2016 11:36pm
I am hands off from EU ATM but 100S at 815 will look attractive and likely to be targeted
some might say well if you think price heading to 815 then why not sell it now .Well I don't know the future and selling now is no value to me because its already way oversold and price can rebound from 9 current level back to 10.I need to have the Edge with value on my side
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In trading, you have to be defensive and aggressive at the same time
  • #4,302
  • Oct 20, 2016 11:54pm Oct 20, 2016 11:54pm
Quoting Davit
{quote} Hi Mike I have a favor to ask you.I like your pivot indicator and would it be possible you upload it with your template? The one on clipboard does not have all my levels nor prices. Thanks buddy
Sure no problem. Will post it up and provide some comments around how I set it up.

Very commendable money management on your recent trades. Have to say if you end a month positive after Black Swan event, you have to be doing something right.
  • #4,303
  • Oct 21, 2016 12:30am Oct 21, 2016 12:30am
Quoting Davit
{quote} Agree 61R can be tested at 1.3316 could even go higher to 78R Poloz like Draghi played lame Duck.This makes Feds job even more difficult because you don't want to have super strong greenbacks and hurt your chances in the markets. The game is Cheap currency now.Who can lower the most...Japan already is king but Euro is not far behind in terms of interest and now Carney wants to join the party... funny how globally everyone is in "recovery mode" or on the brink of serious rescission like Euro zone total collapse and will have domino effect...
I was thinking of the same thing, if all the majors stay weak and the USD keeps strengthening, then they might rethink raising rates as well. I believe they are watching China's yuan valuation mechanism closely. As for the CAD, the numbers have been shaky. If OPEC falls apart then USD will push on further. Many people see the fall of Euro, one of my fav economics guru - https://www.theguardian.com/business...pe-is-the-euro . The signs are already appearing, if DB Bank falls thats the start.

Cheers
MR
Silence your Ego & Your Power will Rise
  • #4,304
  • Oct 21, 2016 4:26am Oct 21, 2016 4:26am
Quoting Davit
{quote} Hi buddy I am impressed by you for someone working 10-12hrs a day driving which I imagine it to be hard work mentally taxing then you come in here and post brilliant charts. Nicely done! That's what is takes dedication and drive.I see you read articles as well keeping it in the know fundamental side of trading.Great! keep it up

Thanks Davit. As so many other posters before me have said, having a great teacher leading by example and demonstrating how to apply his system has had a very positive influence on my trading. I have taken a few pips U/C long and E/U short in the last couple of days too. I did well to cut E/A losses very early last week and have avoided the GBP entirely, and decided short only on E/U, but unfortunately closed my E/U shorts with only about 85pips profit.

I'm taking an initial entry here on U/C. P/A does not support an entry here yet, but I use oil P/A also as an indicator of direction, and it looks like a movement up here is possible. I will only play this trade with small exposure, aware of news later. But I also consider that the effect of Poloz's speech, which quickly reversed the slide on U/C which was underway following the draw down on US stocks, may be relatively short term, and Opec rumours, USD basket movements, and fundamentals, such as inventories, will once again dominate U/C movements. Anyhow, i made a technical blunder earlier, and meant to post U/C chart with Crude, but 2 crude charts came up. U/C has barely moved since, but Brent is ticking up. And, as Michael points out, the market has a memory, and we're approaching the top of U/C recent range.
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  • #4,305
  • Oct 21, 2016 7:11am Oct 21, 2016 7:11am
News in 20 minuts
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  • #4,306
  • Oct 21, 2016 7:40am Oct 21, 2016 7:40am
Quoting Blackopal
{quote} Thanks Davit. As so many other posters before me have said, having a great teacher leading by example and demonstrating how to apply his system has had a very positive influence on my trading. I have taken a few pips U/C long and E/U short in the last couple of days too. I did well to cut E/A losses very early last week and have avoided the GBP entirely, and decided short only on E/U, but unfortunately closed my E/U shorts with only about 85pips profit. I'm taking an initial entry here on U/C. P/A does not support an entry here yet, but...
Impressive! You are one of my star traders here
Here is a tip.Always have healthy respect for the market specially when the going gets easy and that's when you are most vulnerable to make mistakes like increasing lot size or premature entries.Stay focused and nail those trades same way as you are doing.By end of the month all those pips will increase equity curve %
Remember always market is king and keep reminding that to yourself.Reason this is important because in the past I had serious winning streak and got too confident and end up giving all winnings back plus more.Sounds familiar? Yes just about every trader has been in that situation.So I always stay now on course you reign in your urges and focus and focus.
Love you man keep it up.
In trading, you have to be defensive and aggressive at the same time
  • #4,307
  • Oct 21, 2016 7:46am Oct 21, 2016 7:46am
Approaching some targets. I'll start closing some out. Have to get some sleep. Lock some profits away for the week.
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  • #4,308
  • Oct 21, 2016 7:47am Oct 21, 2016 7:47am
Quoting fibo38
News in 20 minuts {image}
Hi fibo
you can change the background color of news to match main chart color so you don't have a black box and it gets easier on the eyes unless that's what you like
In trading, you have to be defensive and aggressive at the same time
  • #4,309
  • Oct 21, 2016 7:50am Oct 21, 2016 7:50am
Quoting mraam
Added more positions on Au - reentry on rejected candles @R61, TP S38 or WP, depending on PA. Moved all trades to BE++. For those holding on to CAD, major news tomm. Based on yesterday's PC, im inclined to think it will not be good. Good Night people. Cheers MR {image}
As i more or less foresaw earlier, went short on CAD, this might push on.

Cheers
MR
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Silence your Ego & Your Power will Rise
  • #4,310
  • Oct 21, 2016 8:07am Oct 21, 2016 8:07am
Heads up guys UC hit 120ADR today and great pivot zone maybe good for 50-75 pip retrace by the end of day.Its just good probability set up.
Noticing some Resistance on EU at 78S
In trading, you have to be defensive and aggressive at the same time
  • #4,311
  • Oct 21, 2016 8:12am Oct 21, 2016 8:12am
Quoting mraam
{quote} As i more or less foresaw earlier, went short on CAD, this might push on. Cheers MR {image} {image} {image}
excellent work
In trading, you have to be defensive and aggressive at the same time
  • #4,312
  • Oct 21, 2016 8:19am Oct 21, 2016 8:19am
A little icing on the cake. Closed E/U for the week end. Well done on the Canadian mraam. Looks like the bad numbers from Canada might cause a break out on U/C range if P/A keeps up and can hold new levels. I did all right closing down Aussie and Kiwi. A/J hit target at W/P, closed all for somewhere around 500 pips, same on A/U. Nice finish to the week. My account has grown. Thanks Davit. Will carry small DD on U/C over the week end.
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  • #4,313
  • Oct 21, 2016 8:39am Oct 21, 2016 8:39am
Quoting Davit
{quote} excellent work
Thanks Davit, you are the man! .

Quoting Blackopal
A little icing on the cake. Closed E/U for the week end. Well done on the Canadian mraam. Looks like the bad numbers from Canada might cause a break out on U/C range if P/A keeps up and can hold new levels. I did all right closing down Aussie and Kiwi. A/J hit target at W/P, closed all for somewhere around 500 pips, same on A/U. Nice finish to the week. My account has grown. Thanks Davit. Will carry small DD on U/C over the week end. {image}
Thanks Opal, youre doing superbly as well. Keep it going & have a great weekend!

Cheers
MR
Silence your Ego & Your Power will Rise
  • #4,314
  • Oct 21, 2016 8:59am Oct 21, 2016 8:59am
Here is one am in...
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  • #4,315
  • Oct 21, 2016 4:18pm Oct 21, 2016 4:18pm
Hi all again, Ive been as they say lurking and paying close attention to posts posted by the likes of Davit, Arjun, Maraam, mch Blackopal Fibo, and some others. And have learnt a great deal from observation of entries and exits of trades taken by previously mentioned people. Over the last 2 weeks I have been trying to strengthen my visual recognition of PA in relation to pivot points in combination with previous S/R levels, TDI, ADR, while observing lower and higher time frames PA. In addition to increase my edge i have been versing myself in harmonic pattern recognition which i can see can be used to increase probability.
The Mark Douglas videos are one of the, if not biggest eye openers that any aspiring trader can ever watch, as it tells you exactly as it is no one knows where the market is going to go but over a sample size or so of trades will you be able to determine if you have a valid edge and that alone will give you a more relaxed approach to the markets. Now one of the most important things that i have began to fully digest and that was understanding leverage and lots. I know its a newbie type thing to only just now fully get it (after a few years versing myself,part time) but understanding your account size and what you risk per trade or over a number of micro/mini lots allows you to have enough headroom for the market to,( as I say "breath") before your "edge" may come into play.Or lady luck may be on your side and you get instant reaction. And even if your edge does come into play we must be observant of PA. Because i am at work it will be hard for me at present to post/ take trades or post charts. I will be buying a new small laptop that i can carry to work and will be working on adopting the time frames and pairs that are more suited to me in the UK as well as lot values that suit my budget to give me more pips to play with lol.
Many thanks to you Davit and all contributors to the thread I will soon become a regular contributor to the thread.
I will add a chart to this post in a bit that i made 124pips on.

Many thanks again
  • #4,316
  • Oct 21, 2016 4:43pm Oct 21, 2016 4:43pm
Quoting littlehelper
Hi all again, Ive been as they say lurking and paying close attention to posts posted by the likes of Davit, Arjun, Maraam, mch Blackopal Fibo, and some others. And have learnt a great deal from observation of entries and exits of trades taken by previously mentioned people. Over the last 2 weeks I have been trying to strengthen my visual recognition of PA in relation to pivot points in combination with previous S/R levels, TDI, ADR, while observing lower and higher time frames PA. In addition to increase my edge i have been versing myself...
Very nice post ! I remember your previous posts as well.Yes lot size matters and it matters on so many levels.You have to consider you could take 6-10 losses in a row and still not be effected and carry on.Most traders trading bigger lots same situation A they already depleted the account B psychology crashed.Under these conditions recovering is hard and most quit before they could even know if trading profitable is possible.
So yes small lots or reasonable lots with reasonable SL will keep you float and allow you to trade your sample size so you can harvest your EDGE.
Cheers and looking forward for your charts.As you can tell Blackopal Mike Mraam Arjun Fibo and many others demonstrate here this system works!
Regards
In trading, you have to be defensive and aggressive at the same time
  • #4,317
  • Edited Oct 22, 2016 12:05pm Oct 21, 2016 5:25pm | Edited Oct 22, 2016 12:05pm
Hi Davit, "Oh yes" those pivots are strong thats for sure . I have come to realise why you say this thread is for people with 2 years or more experience as by then you should have had enough time to have come across enough material such as S/R, PA, Fibs, patterns etc... and taken trades live/demo which should have built knowledge for us to then take what 'YOU' have given us and combine it so that it works. So on that basis many people may have an edge of sorts, but have not come to realise it due to low sample size and the negative psychology of losing trades. Mainly because they didnt, myself included have the direction of the "Pivotal road maps", truly understanding the way their edge and the market works (Mark Douglas), and over leveraging. Of course there are a number of other variables to understand. But overall at the least Im looking forward to a more relaxed future with trading and find my way out of the wilderness .
Below is a trade i exited at 124 pips AU i had 2 more 1 for 92 pips and another for 77 pips. would love to have caught AU at R100 .

Many Thanks!!
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  • #4,318
  • Oct 21, 2016 10:31pm Oct 21, 2016 10:31pm
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Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #4,319
  • Oct 23, 2016 9:09am Oct 23, 2016 9:09am
Quoting Davit
{quote} Impressive! You are one of my star traders here Here is a tip.Always have healthy respect for the market specially when the going gets easy and that's when you are most vulnerable to make mistakes like increasing lot size or premature entries.Stay focused and nail those trades same way as you are doing.By end of the month all those pips will increase equity curve % Remember always market is king and keep reminding that to yourself.Reason this is important because in the past I had serious winning streak and got too confident and...
Very good advice mate. Premature entries are a weakness in my trading that I need to reduce. Reining in my urges is something I'm improving on and need to keep reminding myself of. Shorting the U/C just before the retail news was a perfect example. I prefer not to hold trades when big news events are about to occur, so by not reining in my urge I broke that policy and now owe the market for it. In the future I'll keep your advice in mind before committing.

The U/C should be in play again tomorrow, with the EU having set Belgium a deadline to convince Wallonia to back the trade deal. The implications of a failure to do so could be far reaching, so there will be pressure on Wallonia to agree.

Tuesday may be negative....Poloz speaks again
  • #4,320
  • Oct 23, 2016 2:23pm Oct 23, 2016 2:23pm
Hello all,

in post #1 by Davit he recommends a couple of titles which everybody should read. One of the titles is The New Psycho-Cybernetics. I happen to have the audiobook and ebook which you can download through the link at the end of this post.

Quote
Put more living in your life! Psycho‑Cybernetics is renowned doctor and professor Maxwell Maltz's simple, scientific, and revolutionary program for health and success.

Happiness and success are habits. So are failure and misery. But negative habits can be changed and Psycho‑Cybernetics shows you how!

Download link
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