Pivot Trading

Quoting Davit

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{quote} Yellow box I drew my target area. Oil cartel meeting by May 25th and I anticipate drop to this level (yellow box) That's 2 weeks.Can you wait 2 weeks? How about 2weeks 30% gain of equity? Now can you wait? Goes without saying these are just scenarios which I believe hence my trades on EC but market is king. As Sniperdebt demonstrated before patience pays $$ big time {image}

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Quoting BaseTrade

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Got in the EUR/CAD trade slightly late. I'm not a swing trader, so it's very difficult for me to just watch price bounce up against my positions and not panic to close them for a loss. I'm setting a mental stop, that if price move back up and stay up clearly above the current weekly Pivot level, I'll close them. Otherwise, I'll leave them alone, and open more positions if price continue to move down. {image}

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Quoting Davit

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{quote} If you use words like panic or worry about positions then your positions too big.Reduce lots until you feel comfortable and allow price to do its thing. I said this here over and over its a marathon not a sprint race.Build account on consistent manner without typical FF style one week 30% gain another week 50% loss and cycle repeating. Slow down make it boring.Trading should be boring.If its too exciting then you are too involve emotionally which effects decisions.

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Quoting Davit

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{quote} If you use words like panic or worry about positions then your positions too big.Reduce lots until you feel comfortable and allow price to do its thing. I said this here over and over its a marathon not a sprint race.Build account on consistent manner without typical FF style one week 30% gain another week 50% loss and cycle repeating. Slow down make it boring.Trading should be boring.If its too exciting then you are too involve emotionally which effects decisions.

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Quoting BaseTrade

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{quote} Thanks, Davit for your golden advice. I will reduce my positions to a more comfortable level, so that I can better handle the trade emotionally.

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Quoting Davit

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{quote} Think in Quarters and that will take the pressure off.That's how businesses Banks operate Quarterly profits/ losses.Trading should be approached like a business.Methodical none emotional manner. If you like some inspiration plug your % and see how far consistency can take you http://www.forex21.com/forex-compounding-calculator/

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Quoting Davit

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{quote} If you use words like panic or worry about positions then your positions too big.Reduce lots until you feel comfortable and allow price to do its thing. I said this here over and over its a marathon not a sprint race.Build account on consistent manner without typical FF style one week 30% gain another week 50% loss and cycle repeating. Slow down make it boring.Trading should be boring.If its too exciting then you are too involve emotionally which effects decisions.

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Quoting fibo38

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{image}

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Quoting Davit

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nice break on EC 4880 48 here we come {image}

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Quoting Davit

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you might be tempted to long EU at 61S now Personally don't Bears are in control now and could drop further. gap on left still unclosed {image}

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