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Pivot Trading

  • #7,681
  • Mar 3, 2017 11:13am Mar 3, 2017 11:13am
Quoting csternfx
{quote} Agree with you on that. Just stepping in front of trains this week. I can see some of my mistakes due to poor PA. Some I cannot. It seems PA was good, just went wrong. Hopefully some lessons to commit to memory this week.
I wonder what next week pivots will look like?? Probably be huge!!!
Fib(onacci) my way to glory
  • #7,682
  • Mar 3, 2017 11:43am Mar 3, 2017 11:43am
Quoting saham1358
{quote} Please; Explain the use of the ADR
Average Daily Range.

It's just what it says...the average daily range a pair is "supposed" "allowed" "should" travel. I say this cautiously because the market does what the market does. It is just to gauge the amount of pips it averages daily. Best way I use it is when it reaches 100% or over then a correction should be coming soon for that day.

Google search and YouTube would yield info on this. Guys use it. Find your info online...you would be amazed on how easily you can build your knowledge base.
Invest in Life
  • #7,683
  • Mar 3, 2017 11:59am Mar 3, 2017 11:59am
USD/JPY

Green traffic lights @ angulator.
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  • #7,684
  • Mar 3, 2017 12:17pm Mar 3, 2017 12:17pm
Quoting Mundo
{quote} Average Daily Range. It's just what it says...the average daily range a pair is "supposed" "allowed" "should" travel. I say this cautiously because the market does what the market does. It is just to gauge the amount of pips it averages daily. Best way I use it is when it reaches 100% or over then a correction should be coming soon for that day. Google search and YouTube would yield info on this. Guys use it. Find your info online...you would be amazed on how easily you can build your knowledge base.

Thank you . I understood
Best way I use it is when it reaches 100% or over then a correction should be coming soon for that day
  • #7,685
  • Mar 3, 2017 1:13pm Mar 3, 2017 1:13pm
What is the meaning of PA ?
  • #7,686
  • Mar 3, 2017 1:35pm Mar 3, 2017 1:35pm
Quoting saham1358
What is the meaning of PA ?
Price action
  • #7,687
  • Mar 3, 2017 1:38pm Mar 3, 2017 1:38pm
Quoting akurs
{quote} Price action
Thank you . I understood
  • #7,688
  • Mar 3, 2017 2:10pm Mar 3, 2017 2:10pm
Quoting fibo38
Go down {image}
Please zoom out. EA has been going up in correction waves.I would not sell this pair from any price short of 44+
In trading, you have to be defensive and aggressive at the same time
  • #7,689
  • Mar 3, 2017 2:12pm Mar 3, 2017 2:12pm
Quoting Kammgcni
{quote} PLEASE SUGGEST.
I think honestly this is not the right thread system for you.Please gain more experience before trying this.I suggest you lower your lots significantly until you know what you are doing.
Until then I am removing you from here.Its for your own good.I can't have you lose money on my thread.
In trading, you have to be defensive and aggressive at the same time
  • #7,690
  • Mar 3, 2017 2:15pm Mar 3, 2017 2:15pm
Quoting saham1358
What is the meaning of PA ?
This is not the right thread for you. For someone asking what is PA is already enough.No offense.Its for your own good.
You are removed from here
In trading, you have to be defensive and aggressive at the same time
  • #7,691
  • Mar 3, 2017 2:19pm Mar 3, 2017 2:19pm
Anyone who ignores my 1st page and think they can trade this system is a precursor for failure and you will be removed.
This requires minimum 2years experience in forex.
In trading, you have to be defensive and aggressive at the same time
  • #7,692
  • Mar 3, 2017 2:20pm Mar 3, 2017 2:20pm
2nd attempt on 100R on EG
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In trading, you have to be defensive and aggressive at the same time
  • #7,693
  • Mar 3, 2017 2:22pm Mar 3, 2017 2:22pm
Quoting sniperdebt
{quote} Updated. EJ,CJ Hi Traders, New month, new opportunities... Possible H&S on EJ and 123 on CJ {image} {image}
EJ H&S completed. Another possible BIG H&S in progress, watching closely.

Time to relax.

+ TDI at higher TF still rising up,Daily ADR hit.
+ PA stall at previous confluence area.
+ Price could be run another SH before make correction, next week will be another great opportunity.

Have a nice week end.
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  • #7,694
  • Mar 3, 2017 2:24pm Mar 3, 2017 2:24pm
Quoting sniperdebt
{quote} EJ H&S completed. Another possible BIG H&S in progress, watching closely. Time to relax. + TDI at higher TF still rising up,Daily ADR hit. + PA stall at previous confluence area. + Price could be run another SH before correction, next week will be another great opportunity. Have a nice week end. {image}
Amazingly serious PIPS
Congrats!!!
In trading, you have to be defensive and aggressive at the same time
  • #7,695
  • Mar 3, 2017 2:37pm Mar 3, 2017 2:37pm
Quoting Davit
{quote} Amazingly serious PIPS Congrats!!!
Thanks Davit, EA behaved really well. 1st Target reached.
  • #7,696
  • Mar 3, 2017 2:48pm Mar 3, 2017 2:48pm
Quoting sniperdebt
{quote} Thanks Davit, EA behaved really well. 1st Target reached.
You are a good example why an experienced trader can pile pips and not so experienced lose money.It takes time to sort things out specially how one feels about taking a loss.
I only provided framework to trade but I can't manage other people's trades.Its simple as that.
regards good job
In trading, you have to be defensive and aggressive at the same time
  • #7,697
  • Mar 3, 2017 3:01pm Mar 3, 2017 3:01pm
Quoting Davit
{quote} You are a good example why an experienced trader can pile pips and not so experienced lose money.It takes time to sort things out specially how one feels about taking a loss. I only provided framework to trade but I can't manage other people's trades.Its simple as that. regards good job
Some principles are taken from the Trading in the Zone by Mark Douglas.

Quote
The 5 Fundamental Truths of Trading:
1. Anything can happen.

2. You dont need to know what is going to happen next to make money.

3. There is a random distribution between wins and losses for any given set of
variables that define an edge.

4. An edge is nothing more than an indication of a higher probability of one thing
happening over another.

5. Every moment in the market is unique.

Quote
The 7 Principles of Consistency:
1. Objectively identify my edges.

2. Predefine the risk of every trade.

3. Completely accept the risk or I am willing to let go of the trade.

4. Act on my edges without reservation or hesitation.

5. Pay myself as the market makes money available to me.

6. Continually monitor my susceptibility for making errors.

7. Understand the absolute necessity of these principles of consistent success
and, therefore, I never violate them.

Patience is a virtue.
  • #7,698
  • Mar 3, 2017 3:19pm Mar 3, 2017 3:19pm
Quoting sniperdebt
Hi Traders, Updated. + Took several short yesterday on Gold and ( Closed ),Currently have one short position & buy left on but watching these areas closely. + Open some buy position on en pairs ( UJ,CJ,EJ). + Long term position still running EA, EG, Gold Have a nice week end. {image} {image}
UJ Updated.

+ TDI on M30 below 32, daily ADR hit.
+ PA stop on previous structure.
+ Another possible pattern in progress.
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  • #7,699
  • Edited 11:03pm Mar 3, 2017 10:41pm | Edited 11:03pm
I think its important to recognize mistakes probably lot more then anything else.
For myself sudden dollar surge last week started with UC caught me off guard.I thought perhaps Trump address speech had something in it and it did but real driver was Feds officials giving clear signals that March rate is live event.This I missed reading properly hence entered early on UC at 61R and the week ended at 138R far higher then I anticipated.
When shit like this happens we can blame family errands distractions etc but bottom line is we put money on the table then we own that responsibility and I clearly failed to read the market properly.This admission is to myself and to you guys that yes mistakes happen but how we go around solving is the real deal.
If your account is in danger or DD is too big cut 25% loss and wait to see how PA will carry next week.From my experience sharp moves often follow sharp corrections and you might get out with profit or minimum damage.
Last year I had EG short and unexpected Brexit send this to sky high level decided to wait it out and eventually came down to reasonable level to take the loss.Recovered and moved on building my account. This is trading dealing with adverse situations.Not everything works out.
I guess what I am saying is mistakes do happen because in trading there are lots of X factors that you don't know hence don't beat yourself.Manage the situation calmly and methodically.
regards
In trading, you have to be defensive and aggressive at the same time
  • #7,700
  • Mar 3, 2017 10:58pm Mar 3, 2017 10:58pm
Quoting Davit
I think its important to recognize mistakes probably lot more then anything else. For myself sudden dollar surge last week started with UC caught me off guard.I thought perhaps Trump address speech had something in it and it did but real driver was Feds officials giving clear signals that March rate is live event.This I missed reading properly hence entered early on UC at 61R and the week ended at 138R far higher then I anticipated. When shit like this happens we can blame family errands distractions etc but bottom line is we put money on the table...
Thanks Davit well said. I for one do not follow much fundamentals and although I have my reasons it is times like these when I pay the price. I will pay closer attention to it since I want to correct any mistakes I make.

In the long term this system is still extremely profitable. Since I will incur loses I rather it be by these unexpected situations that we do not foresee. Because when market is at its "normal" state this method will recover any loss and end up in huge profit. This is what my experience has shown me.
Invest in Life
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