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Pivot Trading

  • #9,921
  • Jun 8, 2017 4:26pm Jun 8, 2017 4:26pm
Quoting fibo38
{image}
nice one there.
i've been caught up on the wrong side with my EG shorts. so i hedged at 0.8750. DD considerable though.
"Letting losses run is the most serious mistake made by most investors."W.O
  • #9,922
  • Jun 8, 2017 8:28pm Jun 8, 2017 8:28pm
AUS/NZD

I don't understand why Aussie is strong in almost every market but Kiwi. I understand the pair trades mostly on local economics, just wish I understood it better.
"Not all those who wander are lost." - Tolken
  • #9,923
  • Jun 9, 2017 2:27am Jun 9, 2017 2:27am
Looks like I will be holding EG for a while election result not what I wanted.
  • #9,924
  • Jun 9, 2017 4:25am Jun 9, 2017 4:25am
Quoting Davit
{quote} Align weekly pivot yellow line and everything else will line up.If you are off within 10pips its fine normal. I have read some your post starting from 2015 when you had your system which had lots of oscillators.My question to you is what did you learn since 2015 until now. Thanks
thanks Davit . pivots got set after i posted here ...

in these years i found out you have to build systems that match with yourself . but i cant see any reason i shouldnt try and be familiar with new systems and ideas and also indicators . i cant use indicators,i can only work with empty charts because indicators are come from charts and prices and may make you wrong .
  • #9,925
  • Jun 9, 2017 7:45am Jun 9, 2017 7:45am
strong cad employment numbers.
Big uptick.
  • #9,926
  • Jun 9, 2017 8:16am Jun 9, 2017 8:16am
Watching PA at WP for possible short entry
Attached Image (click to enlarge)
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"Not all those who wander are lost." - Tolken
  • #9,927
  • Jun 9, 2017 8:47am Jun 9, 2017 8:47am
GM guys
Survived the EG spike and added few more on very top.Its fine now.
Have been scalping in and out of NU shorts which is not worth posting.
Got AC in nice running gear.Going to let this baby run to next week which should continue down path.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADDaily.png Size: 51 KB
In trading, you have to be defensive and aggressive at the same time
  • #9,928
  • Jun 9, 2017 8:50am Jun 9, 2017 8:50am
Quoting OpenRoads
AUS/NZD I don't understand why Aussie is strong in almost every market but Kiwi. I understand the pair trades mostly on local economics, just wish I understood it better.
carry over value. NZD interest rate is higher and seems "safer" place to park funds under present none threatening fundamentals.
As we already know things can change fast in forex
don't worry about AN just hang in there
In trading, you have to be defensive and aggressive at the same time
  • #9,929
  • Jun 9, 2017 8:54am Jun 9, 2017 8:54am
Quoting fibo38
{image}
good job and looks like you were shorting this from last week and if so you just got lucky.Could of turned other way election results that is.
In trading, you have to be defensive and aggressive at the same time
  • #9,930
  • Jun 9, 2017 8:58am Jun 9, 2017 8:58am
Quoting Davit
GM guys Survived the EG spike and added few more on very top.Its fine now. Have been scalping in and out of NU shorts which is not worth posting. Got AC in nice running gear.Going to let this baby run to next week which should continue down path. {image}
With you on this one
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADH4.png Size: 52 KB
Fall seven times, stand up Eight! #GGMU
  • #9,931
  • Jun 9, 2017 9:00am Jun 9, 2017 9:00am
Quoting OpenRoads
Watching PA at WP for possible short entry {image}
I think you should not draw trend lines.Should not make that influence your decisions.Almost all forex retail traders draw trend lines and very few are profitable but they still continue drawing lines...
We should watch reaction on WP if it goes through or bounces back down.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #9,932
  • Edited 10:06am Jun 9, 2017 9:05am | Edited 10:06am
Hi everyone,
i'm waiting for the best spot to un-Hedge EG, very unstable GBP makes it more difficult.

Profits on EC, took +560 pips profits and let the other half run to 1.4970. (this one survived everything lol).
Attached Image (click to enlarge)
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Profits on AC, +420 pips and still holding.
Attached Image (click to enlarge)
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DD on AN but as i said before this one is cool so i'm not worried.
very little DD on NC but now it's looking good and i added some positions on the top of R100.


I mentioned it before in this thread that i stopped trading GBP pairs since October 2017 because of the toxic climate (Brexit, elections), but i made the error of entering in a tempting EG short positions ride. The lesson i learned is to respect my strategy and my rules.

But no real harm on my account, i will post my 2Q results at the end of the month, they're quite good at the moment.
Planning to change broker too.
"Letting losses run is the most serious mistake made by most investors."W.O
  • #9,933
  • Jun 9, 2017 9:15am Jun 9, 2017 9:15am
Good day guys

I thought i share my first winning trade. i took a short on NC
With all due respect to everyone on this forum but most importantly thank you Davit i really appreciate all the advice
Attached Image (click to enlarge)
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  • #9,934
  • Jun 9, 2017 10:08am Jun 9, 2017 10:08am
Quoting Davit
GM guys Survived the EG spike and added few more on very top.Its fine now. Have been scalping in and out of NU shorts which is not worth posting. Got AC in nice running gear.Going to let this baby run to next week which should continue down path. {image}
Hi Davit and everyone. Just easing myself back into the markets after a break. In AC and was targeting WP/S38 zone as take profit, may leave it to run since she's twisting the throttle a bit..
PS Davit, all the best with your family..
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCADM30.png Size: 35 KB
Private Msgs are turned off to weirdos, loafs and brain drainers
  • #9,935
  • Jun 9, 2017 10:11am Jun 9, 2017 10:11am
i will close all my EURCAD positions before the end of the day.
This week-end there are 1st round of legislative elections here in France, we're not not like the brits and i'm pretty convinced that Macron movement will have the majority, so i expect a little upper gap for EUR.

+ Davit : i would like to know your expectations for EG, i know it's an confusing situation but just want to know your opinion. thanks
"Letting losses run is the most serious mistake made by most investors."W.O
  • #9,936
  • Jun 9, 2017 11:58am Jun 9, 2017 11:58am
Quoting liamseden
i will close all my EURCAD positions before the end of the day. This week-end there are 1st round of legislative elections here in France, we're not not like the brits and i'm pretty convinced that Macron movement will have the majority, so i expect a little upper gap for EUR. + Davit : i would like to know your expectations for EG, i know it's an confusing situation but just want to know your opinion. thanks
EG can be stuburn.I held it after Brexit spike for 3months I think.I don't think it will take that long to reach 85. Italian Election and Greece issues will weaken the Euro.
ECB desperately wants weak Euro to continue stimulating the economy hence bond buying but recent numbers are not very good and its attributed to rising Euro and if it continues to rise ECB may take action.
Anyway I am not worried.Looking at the chart this looks like correction cycles going down after peak of yesterday

Keep in mind that I firmly believe in managing trades if I think EG reached a level that I don't feel comfortable I will cut 25% of positions.
To me trading is a probability game.Wins some and lose some and moving on.
In trading, you have to be defensive and aggressive at the same time
  • #9,937
  • Jun 9, 2017 12:01pm Jun 9, 2017 12:01pm
Quoting BeyondTheSea
{quote} Hi Davit and everyone. Just easing myself back into the markets after a break. In AC and was targeting WP/S38 zone as take profit, may leave it to run since she's twisting the throttle a bit.. PS Davit, all the best with your family.. {image}
welcome back and good start
In trading, you have to be defensive and aggressive at the same time
  • #9,938
  • Jun 9, 2017 12:03pm Jun 9, 2017 12:03pm
Quoting Ph35
Good day guys I thought i share my first winning trade. i took a short on NC With all due respect to everyone on this forum but most importantly thank you Davit i really appreciate all the advice {image}
My advise is watch Mark Douglas videos and looks like you are a new to trading.Not going to manage your trades.

It takes no skill to have a winning trade unless you consider a pressing a mouse a skill.What you need firmly to understand is probability and edge.
Real skill is when you can repeat certain patterns and generate revenue in consistent manner over series of trades!
In trading, you have to be defensive and aggressive at the same time
  • #9,939
  • Jun 9, 2017 12:53pm Jun 9, 2017 12:53pm
LOve Moto GP and Valentino Rossi
Inserted Video
In trading, you have to be defensive and aggressive at the same time
  • #9,940
  • Jun 9, 2017 1:40pm Jun 9, 2017 1:40pm
Quoting Davit
{quote} carry over value. NZD interest rate is higher and seems "safer" place to park funds under present none threatening fundamentals. As we already know things can change fast in forex don't worry about AN just hang in there
Davit,

Thank you for the explanation. I am fine; made just shy of my 3% (90% to goal) goal this week, which is ok because I was above last week. UJ all closed for now (I did enter again at WP for a quick scalp). Did well on EA this week (Thank you Davit!) and shorted EU overnight and closed out before current re-tracement. DD on older EU position and DD on AN, All in all equity grew, I learned and happy with my results. Thank you again.

Cheers Bryan
"Not all those who wander are lost." - Tolken
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