General guidelines
Trolls,Time Wasters,Spoon feeders,disruptors will be removed without notice.Thread will stay clean and on principles it is shared.
1st page under construction
Disclaimer
Pivot trading is advance trading requiring both psychological and technical experience in Forex.
I require 2 yrs minimum trading experience trading my system.What it may appear easy its very deceptive, in reality you can lose your account without proper account management.Not responsible for your gains or losses!
Violators will be removed!
Any indicator other then on this system uploaded without permission will result your immediate removal from the thread.
"In the time of your life, live—so that in that wondrous time you shall not add to the misery and sorrow of the world, but shall smile to the infinite delight and mystery of it.”
― William Saroyan,The time of your Life
At Pivot Trading we slay the price------ Judith Beheading Holofernes by Caravaggio
Indicators
If your pivots are off more then 10pips you can adjust it by going to settings -set broker candle false and adjust time zone -/or +1234567 whichever number gets you close then you are good.
Not sure on pivot levels then go here and check (make sure its weekly and fibs)
News indicator
Please use my template and indicators so we can be all on same page
Offenders using other indicators will be removed without notice
Stop Loss
This is advance trading hence I am going to let you decide this for yourself.What I do is not relevant since my account is larger then typical retail trader which is 2-10k and I manage it what works for me.Having said this letting 500 loss become 10k loss is idiotic no matter what size the account is.You must have exit plan.
How to trade pivots
Zone 61-100 usually areas where swings fail and you can counter trade or trade with the trend.Works both ways
Weekly Pivots are equilibrium creating bias below sell above buy.I usually trade 61-100 however have made trades above or below WP
As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.
Watch PA its the queen (chess analogy) !I prefer to see minimum 15-30 min candles red or green before entering a trade however this is aggressive and I have years of experience and more conservative approach is wait for 1hr to h4 candles.You may lose some pips waiting out but could also save you pips by not getting in early.
Calendar Events
key post on fundamentals
I maybe only trader here at FF in systems who combines technical with fundamentals.By knowing in advance what's coming up I can tailor suit my trades for greater edge! Example post 5062 how I go around Calendar analyses.Its recommended you do this before Monday every week or don't expect to have my results.
Great site for Price Action highly recommend to read.
Pairs I often trade and recommend
All majors minus (USD/CHF) if you don't know what is major you should not be here
Favorite Crosses often traded
CJ AJ NJ NC AC
AN EC EG EA
Commodity pairs and their relevant crosses are my favorites.
Pairs don't recommend
GN GJ GA all variations of CHF should be avoided.
Hyper pairs like I mentioned are in my experience don't fall into position building well and if got it wrong can be account draining.Ironically where lots of noobs get killed.I seriously think if you don't have solid experience and know what you are doing you should not even have GJ GN GA on your charts.
Trolls,Time Wasters,Spoon feeders,disruptors will be removed without notice.Thread will stay clean and on principles it is shared.
1st page under construction
Disclaimer
Pivot trading is advance trading requiring both psychological and technical experience in Forex.
I require 2 yrs minimum trading experience trading my system.What it may appear easy its very deceptive, in reality you can lose your account without proper account management.Not responsible for your gains or losses!
Violators will be removed!
Any indicator other then on this system uploaded without permission will result your immediate removal from the thread.
"In the time of your life, live—so that in that wondrous time you shall not add to the misery and sorrow of the world, but shall smile to the infinite delight and mystery of it.”
― William Saroyan,The time of your Life
At Pivot Trading we slay the price------ Judith Beheading Holofernes by Caravaggio
Indicators
If your pivots are off more then 10pips you can adjust it by going to settings -set broker candle false and adjust time zone -/or +1234567 whichever number gets you close then you are good.
Not sure on pivot levels then go here and check (make sure its weekly and fibs)
News indicator
Please use my template and indicators so we can be all on same page
Offenders using other indicators will be removed without notice
Stop Loss
This is advance trading hence I am going to let you decide this for yourself.What I do is not relevant since my account is larger then typical retail trader which is 2-10k and I manage it what works for me.Having said this letting 500 loss become 10k loss is idiotic no matter what size the account is.You must have exit plan.
How to trade pivots
Zone 61-100 usually areas where swings fail and you can counter trade or trade with the trend.Works both ways
Weekly Pivots are equilibrium creating bias below sell above buy.I usually trade 61-100 however have made trades above or below WP
As price travels progressively away from weekly pivot it becomes more likely to go into correction.
61 S/R key zone 78R/S is Scott Carney's last chance for reversal (spikes stops taken before reversal) 100R/S another major zone.
Should price smash 100 S/R then you are in strong trend supported by fundamentals.
Watch PA its the queen (chess analogy) !I prefer to see minimum 15-30 min candles red or green before entering a trade however this is aggressive and I have years of experience and more conservative approach is wait for 1hr to h4 candles.You may lose some pips waiting out but could also save you pips by not getting in early.
Calendar Events
key post on fundamentals
I maybe only trader here at FF in systems who combines technical with fundamentals.By knowing in advance what's coming up I can tailor suit my trades for greater edge! Example post 5062 how I go around Calendar analyses.Its recommended you do this before Monday every week or don't expect to have my results.
Great site for Price Action highly recommend to read.
Pairs I often trade and recommend
All majors minus (USD/CHF) if you don't know what is major you should not be here
Favorite Crosses often traded
CJ AJ NJ NC AC
AN EC EG EA
Commodity pairs and their relevant crosses are my favorites.
Pairs don't recommend
GN GJ GA all variations of CHF should be avoided.
Hyper pairs like I mentioned are in my experience don't fall into position building well and if got it wrong can be account draining.Ironically where lots of noobs get killed.I seriously think if you don't have solid experience and know what you are doing you should not even have GJ GN GA on your charts.
Attached Image (click to enlarge)
Attached Files
In trading, you have to be defensive and aggressive at the same time
Lets pile the $$ welcome
