The Pivot Net Revisited (Weekly Pivot Net)

Hello again all. I figured I'd repost a version of my system because the current version leaves me too much time inbetween trades.

I don't doubt that this thread will eventually get buried because the trades are so far removed from each other that the inexperienced and scalpers don't have the patience for it. In my experience it's those traders who help my systems make money.

Here goes...

It's called the Weekly Pivot Net.

I trade on two pairs. GJ and UJ. (risk is 1:1.5 and 1=1% )

Here's the nuts and bolts...

It's a straddle system. Once a trade is triggered the opposite trade is canceled. Per pair.

I determine the upcoming week's Pivot Points. (Using the Weekly Pivot Points from actionforex does the trick).

The R1 and S1 are the entries and the R2 and S2 are the TPs.

To calculate the SLs measure the distance of R1 to R2 (and S1 to S2) and multiply that number by .667 that will give you the distance to the stop. This is the important part that ensures the risk is 1:1.5

That's it folks. It's logic based and worked well for last year. I will also admit that I did not keep detailed records for this method last year (2008). Just saying that to head off the questions about it. But do have very detailed results for 2009.

Two other quick tips...

1) Once the PA has moved 1/2 the distance to TP I move my stop to BE.

2) I have done quite a bit of backtesting on many other pairs and they do not fare as well as GJ and UJ. Feel free to backtest yourself, and if you find that to be untrue or find a pair I did not test please share with the rest of us.

Interesting system. How do you use Oanda's to determine the upcoming pivots?

nice system, well done and good luck. Have you tested any other weekly pivot techniques such as bounces at the support and Resistance levels?

I have traded/tested all sorts of pivot techniques and I've found this one to be one of the most profitable ones. Even though trades are scarce.

Hello

At the end of the week do you close open positions if they have not hit TP / BE or Stop?

Thanks

I sure do. I close by 12:00 PM CST. On my blog I even post my results and entries for this system. Feel free to join us.

OK thanks. Where is it?!?

check my profile the link is there.

I did look there but cant see it. I have attached a pic of what I see here:

that's odd that my site isn't showing up on your view of my profile. I want to respect the rules of FF and not promote my website within a thread. I noticed I couldn't PM you. Feel free to email me at [email protected] and I'll point you in the right direction.

OK I've found you now, thanks.

Just to let those who might be interested I've still been trading the Weekly Pivot Net and TAG for quite some time now and dating back from January 1st of this year I am currently at +111% profits

It's not the sexiest of systems, but it keeps a trader from over trading and has the odds in it's favor.

As far as I can tell both of my systems are original, but most traders want to make a quick buck and don't have the patience or discipline to trade them. The worst drawdown was 8 weeks long and was 20% from the equity high.

I'm just posting this for those who might be new to FF and have missed the days when I used to post quite a bit.

I by no means consider myself a guru or to have anything figured out. I have just found a niche and want to share.

I like your system, I'll try it, thanks for sharing blueace

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MA trend confirmation

I took the short on GBP JPY. Lets see what happens.

[quote=errich fx;3274443]I like your system, I'll try it, thanks for sharing blueace

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I'm always happy to help. It's a system that requires patience but it's consistent. If you have any questions feel free to contact me.

Hi Blueace,

How does this system differ from the touch and tag system you posted in June 2009? Looks like you might have been using EU with that system?

Another question on the current methodology, you just use pivot points and set orders at R1 and S1? You don't try and determine trend before placing an order, you know, trade with the trend mentality.

[quote=blueace;2671953]Hello again all. I figured I'd repost a version of my system because the current version leaves me too much time inbetween trades.

I don't doubt that this thread will eventually get buried because the trades are so far removed from each other that the inexperienced and scalpers don't have the patience for it. In my experience it's those traders who help my systems make money.

Hi Blueace,

In the first line you say that your current version leaves you too much time. So are you trading a different version than what is posted here?

Also, if you have a USA based broker you can no longer place orders for long and short positions in the same pair. So wouldn't one have to have a non - USA broker for this methodology?

The TAG system enters a potential bounce from a combination of either S1 or R1 with a .00xx level.

If PA has made it to R1 or R2 then clearly there is some sort of trend causing that.

More often than not UJ and GJ make it to the S2 and R2 levels.

[quote=ozziedave;3296552] I said that because I only trade the WPN now and stopped trading the DPN.

Yes I trade with Oanda so I can place these types of orders. I disagree with the new US regulations and why they were implemented.

3 questions I have:

#1 I found that table of weekly pivots on the website is there any Indicator

maybe, which

can Actually calculate and draw those lines?

#2 "The R1 and S1 are the entries" On R1 you placing "BUY"

and on S1 you placing "SELL" or vise versa? What orders exactly placed?

#3 You are saying, when 1 order is triggered other canceled.. You mean,

if order on the same pair triggered, on S1 perhaps, then order on R1 on the

same pair is canceled? Or All orders on BOTH pairs are canceled and 1 is

running only?

Or if orders triggered on both pairs they both running?

Thanks.