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Pivot Trading

  • #8,321
  • Apr 6, 2017 8:35am Apr 6, 2017 8:35am
Quoting Mundo
{quote} Took profit on UC before it shot up. Have a few new entries. Waiting on NFP. Hopefully this will be a double dip
if numbers come out very green UJ may shoot up creating opertunity for you to get out of your longs.
In trading, you have to be defensive and aggressive at the same time
  • #8,322
  • Apr 6, 2017 8:37am Apr 6, 2017 8:37am
AUDUSD approaching again to 100
  • #8,323
  • Apr 6, 2017 8:37am Apr 6, 2017 8:37am
Quoting Davit
{quote} consider not trading UJ for a while.Its obviously very erratic and that has lot to do with Tokyo stock market. When a pair I can't profit I leave it alone until things become clear.
I too have buys on UJ. Have draw downs that I should've closed.

Considering eliminating UJ from my pairs list. It is too similar to GJ which burned me many times.
Invest in Life
  • #8,324
  • Apr 6, 2017 8:38am Apr 6, 2017 8:38am
Quoting alibutt
AUDUSD approaching again to 100
I'll suggest wait. Pivots can't hold when facing strong fundemetal release like NFP
Should it drop another 100pips then you will be in golden position to build strong positions.

"Anything can happen" Mark Douglas
In trading, you have to be defensive and aggressive at the same time
  • #8,325
  • Apr 6, 2017 8:40am Apr 6, 2017 8:40am
Quoting Davit
{quote} I am short and like most of you just waiting.Price will move after Friday. May spike to 35 but eventually will come down.When ? don't know and nobody knows either.Some trades are fast reaching TP others takes longer.I can tell you market has slowed down and so far USD bulls are in control but that could change. Fundamentally CAD is doing fine.Nothing that should cause panic to close positions.Don't add any more on UC just wait for Friday.
Thanks Davit.
AUDUSD on my radar for longs.
  • #8,326
  • Apr 6, 2017 8:40am Apr 6, 2017 8:40am
Quoting Davit
{quote} if numbers come out very green UJ may shoot up creating opertunity for you to get out of your longs.
That is one of the reasons I held on. DD is within my limits but it keeps me from pursuing other trades. Here's to patiently waiting...
Invest in Life
  • #8,327
  • Apr 6, 2017 8:44am Apr 6, 2017 8:44am
Quoting Davit
{quote} I'll suggest wait. Pivots can't hold when facing strong fundemetal release like NFP Should it drop another 100pips then you will be in golden position to build strong positions. "Anything can happen" Mark Douglas
I am on hold davit, just watching price action. A simple question i want to ask, what is this NFP? i can not find it by my self, can you please elaborate?
  • #8,328
  • Apr 6, 2017 9:08am Apr 6, 2017 9:08am
Quoting Tamarind77
{quote} your SL is to tight. Read post below, that have same case with you. Read Davit post: post 678 post 8232 {image} {image}
I am on page 31. A lot for reading Thank you
  • #8,329
  • Apr 6, 2017 9:12am Apr 6, 2017 9:12am
Quoting Davit
{quote} Hi just sharing that this is also advance trading requiring 2yr experience. While you may "cheat" you will be cheating yourself by actual losses that very likely occur due to lack of experience.Demo trading does not teach much.Your mind is not engaged. Anyway good luck
Thank you for reply.I have 3+ years experience.Just want to know something new.
  • #8,330
  • Apr 6, 2017 9:41am Apr 6, 2017 9:41am
UCAD Start to dive
I know one thing, that I know nothing - Socrates
  • #8,331
  • Edited Apr 7, 2017 5:11am Apr 6, 2017 9:52am | Edited Apr 7, 2017 5:11am
Quoting alibutt
{quote} . A simple question i want to ask, what is this NFP?
Non farm profit Payrolls news event happens once a month out of the states. Dangerous for new traders. You have a news indicator on your charts, watch it.
"You know what needs to be addressed , completely completely reverse that".
  • #8,332
  • Apr 6, 2017 9:59am Apr 6, 2017 9:59am
+366 pips on EURJPY today and +355 pips on the same pair yesterday Have a good day/evening everyone
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The only thing that will make us successful is if we can control ourselves!
  • #8,333
  • Apr 6, 2017 10:39am Apr 6, 2017 10:39am
Quoting Davit
{quote} welcome and please do read 1st page specially IN ORANGE
Thanks for reply Davit. Your chart is very clean - a lot easier to spot pivot zone.
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  • #8,334
  • Apr 6, 2017 11:16am Apr 6, 2017 11:16am
Thanks for the link to Mark Douglas videos. That has changed my trading perspective for life.
Also, please disregard my previous question, I found the answer from your previous post https://www.forexfactory.com/showthr...96#post9340596
  • #8,335
  • Apr 6, 2017 12:43pm Apr 6, 2017 12:43pm
This is my second trade from morning with this system.
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  • #8,336
  • Apr 6, 2017 1:12pm Apr 6, 2017 1:12pm
In this trade currently...having a real hard time nowadays to study charts as I cannot configure MT4 at workplace. I manually added all pivots for this week to tradingview charts and plan to execute trades from MT4 on mobile, but it certainly is not convenient. Cheers!
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Fall seven times, stand up Eight! #GGMU
  • #8,337
  • Apr 6, 2017 1:14pm Apr 6, 2017 1:14pm
Quoting Davit
Closed AC+517pips EA will let it run lot higher 43 will be nice {image}
Am short AC/AU for the long haul except fundies change. I will look for bounce to re-enter shorts.
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #8,338
  • Apr 6, 2017 3:13pm Apr 6, 2017 3:13pm
Quoting Davit
{quote} consider not trading UJ for a while.Its obviously very erratic and that has lot to do with Tokyo stock market. When a pair I can't profit I leave it alone until things become clear.

Oh, both times I got out with a profit, but it's a psychological thing really. Learn to trust the system! There's an Australian bloke called Nick Radge who has some excellent stuff on trading, I've found it worth checking his site every now and then. There was an article on probability that I thought very good, but I haven't found it again.
  • #8,339
  • Apr 6, 2017 5:08pm Apr 6, 2017 5:08pm
Quoting alibutt
{quote} I am on hold davit, just watching price action. A simple question i want to ask, what is this NFP? i can not find it by my self, can you please elaborate?
NFP is the biggest news event of each month. It shows the amount of employment gained or lost in the US which can can move the market wildly. First Friday of each month.
  • #8,340
  • Apr 6, 2017 7:54pm Apr 6, 2017 7:54pm
Quoting alibutt
{quote} I am on hold davit, just watching price action. A simple question i want to ask, what is this NFP? i can not find it by my self, can you please elaborate?
Quoting Kmw
{quote} Non farm profit news event happens once a month out of the states. Dangerous for new traders. You have a news indicator on your charts, watch it.


I would have said Non Farm Payrolls. FF calendar showing it as Non-Farm Employment Change
Hope for the best, prepare for the worst.
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