Pivot Trading

You can always close 25% of the position and basically manage. Yen appreciation has lot to do with regional tensions like N Korea
May change but generally I suggest you trade pairs you know and understand well.
regards

EA keeps going north nice

Yes, I've already noticed that is probably my biggest problem. Still working on it. My only previous loss since the start of the year was cutting NZD/USD because it hit my risk. If I hadn't been at work at the time I like to think would have cut my EUR/JPY trade when the price stalled early in the London session yesterday, but I wasn't so I'm looking to cut after what I expect to be a bounce from a weekly resistance area about 116.00/S100. That's the plan anyway! I'll still be slightly up on what I started on so I'm not too concerned, it's all about where I am at the end of the year.

Guess I sound a little delusional though.....

Yes, I'm somewhat surprised, given the historical beef the Koreans have with the Japanese, that people would regard the yen as a safe haven for North Korea acting up. Personally I would think the Japs would be on the short list for a nuke, especially with the American presence. Anyway, I do have something of a plan on how I'll approach this, and as I said above, and you've said throughout the thread, it's about performance over a long time, not the immediate trade.

Yes performance should be judged quarterly just like a business.My March was red.Didn't flinch at all.
Carry on.
Lets put this another way for every crises you solve and live through and grow your account you become incrementally a stronger trader and this is hard to measure.
Mistakes are necessary to achieve our goals.They are corrective inputs for success trajectory.

I seriously recommend you read Psycho-Cybernetics, A New Way to Get More Living Out of Life Maxwell Maltz
PDF is available online free
Guided missile technology applied to humans

The founder of cybernetics was American mathematician Norbert Wiener, who spent World War Two refining guided missile technology. Maltz thought: why could the technology behind guided missiles of a constant feedback loop in order to maintain direction not be applied to human achievement? He realised the key point about the loop is that it gains an automaticity when the target or goal is very clearly fixed. When you first learn to drive, you have to worry about every car and process every sign ahead of you on the road - the result is that you move slowly and are vulnerable to getting lost. In time, however, driving becomes easy because you know your destination when you sit behind the wheel, and body and mind automatically do what is necessary to reach it.

Cybernetics appeared such a breakthrough to Maltz because its implication was that achievement was a matter of choice. Most important to the dynamic of achieving was the 'what' (the target), rather than the 'how' (the path). The frontal lobes or conscious thinking part of the brain could devise the goal, or create the image of the person you wanted to be, and the subconscious mind would deliver its attainment. The 'set and forget' mechanism of guided missiles would also work for our deepest desires.

Just a teaser.You must believe and work towards success

What I tried to share on this thread is that system any system is not enough one should correspondingly work on his psychology.This is something seriously lacks in system threads.

NJ approaching S Level

Oil approaching my T.P. Will close 2 of 3 if it gets hit.

Davit, as always I appreciated your advice here, only let it run longer because of fundamentals with Mid East and Korean tensions. North Korea, Syria, Iran all allies, pot is boiling. Please always feel welcome to point out to me if you consider I'm making an error! Thanks Mate

I raised my entry target for A/N, just 2 entries. U/Chf short, E/U long and U/C shorts and small entries E/A long all going my way. In a very rare moment, I have absolutely no DD.

Rub, I've been in your boat too many times, will almost certainly be there again. One thing I've noticed, over time, almost every trade I've been stopped out on or closed manually, eventually would have been in profit. But I can't handle going into big DD and waiting indefinitely for a return to profit, always knowing it Could get worse.

I think you've taken a couple of comments I made a bit too personally which confuses me as they were replies to other posters. I've read a lot on this thread and I do find confluence between a harmonic and fib pivot level together with price action gives a very strong trade. For example the down move this week in USD/JPY started with a rejection of R38 and a bearish shark pattern on H1. I don't think you can say the two correspond to each other though as they're calculated completed differently.

Hi Davit i found your thread by accident as a saw this comment you made -
"What we see today on UJ is why I always insist small lots and spread your entries Obviously traditional SL's on bull side got hit badly.. and it was the point from MM perspective taking your money People always say trading is hard.Its hard when you don't know how to overcome SL's placements and correctly allocating lot size VS account size.
you are exactly right ! i blew half my small account out because i had no stop loses set up, i have been trading 0.10 with £500 live account , have been trying to learn to trade for quite a few years but i just cannot master it , i have used tdi before but know nothing of pivots, you all seem a good bunch here would you mind if i subscribe to try and learn a different way ?
as my way is not working and i was about to give up trading for good, i would also like your advise on stop losses and mm etc or if someone could point me to a post where it is all ready mentioned i would be grateful regards Montego.

AUD/CAD D1 with Monthly pivots.

Getting intresting!

Big CAD news today....

Bank of Canada maintains overnight rate target at 1/2 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
Global economic growth is strengthening and becoming more broadly-based than the Bank had expected in its January Monetary Policy Report (MPR), although there is still considerable uncertainty about the outlook. In the United States, some temporary factors weighed on economic activity in the first quarter but the drivers of growth remain solid. The US is close to full employment, unlike many other advanced economies, including Canada, where material slack remains. Global financial conditions remain accommodative. The Bank expects global GDP growth to increase from 3 1/4 per cent this year to about 3 1/2 per cent in 2018 and 2019.
In Canada, recent data indicate that economic growth has been faster than was expected in the January MPR. Growth was temporarily boosted by a resumption of spending in the oil and gas sector and the effects of the Canada Child Benefit on consumer spending. Residential investment has also been stronger than expected. Employment data have been robust, although gains in hours worked are still soft. Meanwhile, export growth has been uneven in the face of ongoing competitiveness challenges. Further, despite a recent uptick in sentiment, business investment remains well below what could be expected at this stage in the recovery. Accordingly, while the recent rebound in GDP is encouraging, it is too early to conclude that the economy is on a sustainable growth path.
During the rest of this year and into 2018 and 2019, growth in Canada is expected to moderate but remain above potential. At the same time, its composition is expected to broaden as the pace of household spending, especially residential investment, slows while the contributions from exports and business investment increase. The Bank now projects real GDP growth of 2 1/2 per cent in 2017 and just below 2 per cent in 2018 and 2019. Meanwhile, the Bank has revised down its projection of potential growth, reflecting persistently weak investment. With this combination of a higher profile for economic activity and a lower profile for potential, the output gap is projected to close in the first half of 2018, a bit sooner than the Bank anticipated in January.
CPI inflation is now at the 2 per cent target, largely because of the transitory effects of higher oil prices and carbon pricing measures in two provinces, as well as other temporary factors. The Bank’s three measures of core inflation, on the other hand, have been drifting down in recent quarters and wage growth remains subdued, consistent with material excess capacity in the economy. CPI inflation is expected to dip in the months ahead, as the temporary factors unwind, and then return to 2 per cent later in the projection horizon as the output gap closes.
The Bank’s Governing Council acknowledges the strength of recent data, some of which is temporary, and is mindful of the significant uncertainties weighing on the outlook. In this context, Governing Council judges that the current stance of monetary policy is still appropriate and maintains the target for the overnight rate at 1/2 per cent.

First post here. Love the approach, great focus and great people.

NZDJPY at S100 and looking interesting.....

Closed UC+654pips.missed the lower 100S bounce was in bed...
close enough

I don't use traditional hard stops.I trade totally different then most traders.I use real actual $$ for stops and not pips.
This is from my trading plan
STOP LOSS
1 Decide how much each swing is worth example $500
2. Divide $500 into mini lots for multiple entries example .50c a pip gives 1000 pip distance
3. This allows averaging in orders as seen fit irregardless if previous orders are in red
4. Orders are placed as long as reason for trade is still valid
5. If conditions change loss is taken since orders are not all placed all at once this allows smaller loss
Swings
Each Swing investment $500
Swing is taken as loss once -$500 is reached
There are no exceptions.No running red beyond $500
Orders broken down into mini lots that satisfies each swing consist of 10-15 trades

Hope that answers you

Take a look at the tail spike and 100S on UC
remarkable right?
There is no arguments clear! rest is probability.

all yen pairs are at extremes. I suggest stay on the sidelines on selling the Yen.

AC Re-entry,

AN looks interesting as well, depends on the data tomm.

Cheers
MR

still short on AN myself 00600 target
good job

Love to see CAD above 3350 to reload.

NU 38S still holding strong

last 3 days of trading
4% gain of equity still lot of time left to hit 10% or more by the end of the month.
Have not closed EA yet

Thanks buddy, you're doing great yourself

Who knows how long oil strength will persist, it just takes one opec member to bring the house of cards down. If the price continues up, shale oil will be back in play - pushing it back down.

With lunatics possessing nuclear and chemical weapons lets hope and pray there will be a world to live in.

MR