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Simple Trading system for Intraday/short term

  • #41
  • Jun 22, 2007 10:02am Jun 22, 2007 10:02am
Hi!

Finally.... 45 pips for the day....

Anybody manage to earn anything today?


  • #42
  • Jun 25, 2007 2:21am Jun 25, 2007 2:21am
The trendline may help us to get the target price.

The rule of Trendline as a Fibonacci is very simple;

1st - Set you chart for 1 hr.
2nd - Look for the lowers price.
3rd - Draw a line from Lower price to new low price (Uptrend) /
Higher Price to new high price (downtrend)
4th - Keep on doing if you see any new low/high price again.

Once you keep on doing... you will find that ;
Previous Support became future Resistence, and
Previous Resistence became future Support

Look at example in the attachment.

Please give comment.

Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: Trendline as Fibo .jpg Size: 64 KB
  • #43
  • Jun 25, 2007 2:48am Jun 25, 2007 2:48am
GBP/USD

Today Open price for GMT +9 (8 am)
Price = 1.9993

For Buy;
H1 - 2.0027
H2 - 2.0048
H3 - 2.0082
H4 - 2.0137

For Sell;
H5 - 1.9959
H6 - 1.9938
H7 - 1.9904
H8 - 1.9849

Good Luck!
  • #44
  • Edited 2:31am Jun 26, 2007 2:06am | Edited 2:31am
Anybody smart enough yesterday to take 10 pips sell?

Anywhere....don't worry...today another day we can do trading!

Ok... Today Entry...

Open Price = 1.9981

H1 - 2.0015
H2 - 2.0036
H3 - 2.0070
H4 -

H5 - 1.9947
H6 - 1.9926
H7 - 1.9892
H8 -

I give you all this figure first bcoz the market might enter soon for sell market...

Good Luck!
  • #45
  • Jun 28, 2007 5:01am Jun 28, 2007 5:01am
Hi, Please keep posting your entries. This system seems suit your trading style, no much indicators involved, only price action, I like it.


Quoting Olaha
Anybody smart enough yesterday to take 10 pips sell?

Anywhere....don't worry...today another day we can do trading!

Ok... Today Entry...

Open Price = 1.9981

H1 - 2.0015
H2 - 2.0036
H3 - 2.0070
H4 -

H5 - 1.9947
H6 - 1.9926
H7 - 1.9892
H8 -

I give you all this figure first bcoz the market might enter soon for sell market...

Good Luck!
  • #46
  • Jun 28, 2007 5:54am Jun 28, 2007 5:54am
In need of Daily Range Indicator for MT4...
Hi guys. Once upon a time I had a simple indicator that drew a line for the daily high and daily low and gave the daily pip range but went through a few computers and lost it and now I've searched from here to timbuktoo and can't find one like I had. Many thanks in advance for your help.....
__________________
"Success comes with knowledge. Knowledge comes with experience. Experience comes with time and HARD work..."
  • #47
  • Jun 28, 2007 6:29am Jun 28, 2007 6:29am
Hi, Try these, maybe these are the ones you after.

Quoting answerpips
In need of Daily Range Indicator for MT4...
Hi guys. Once upon a time I had a simple indicator that drew a line for the daily high and daily low and gave the daily pip range but went through a few computers and lost it and now I've searched from here to timbuktoo and can't find one like I had. Many thanks in advance for your help.....
__________________
"Success comes with knowledge. Knowledge comes with experience. Experience comes with time and HARD work..."
Attached File(s)
File Type: mq4 (T_S_R)-Daily Range Calculator v1[1].3.mq4   7 KB | 657 downloads
File Type: mq4 (T_S_R)-Daily Range Display#2.mq4   8 KB | 580 downloads
File Type: mq4 (T_S_R)-Daily Range Display .mq4   8 KB | 560 downloads
File Type: mq4 (T_S_R)-Daily Range Calculator v2.1.mq4   8 KB | 593 downloads
  • #48
  • Jun 29, 2007 2:52am Jun 29, 2007 2:52am
Dear Megapips,

I give you the format that help to make easy
See the attachment.
This is the formats, I make for everybody
that interested to use these system.
The attachment contain 2 example format;
1st is for Fibonacci Break Format,
2nd is for Pivot Point Format.
You could try either one.

Everybody can do this format in Microsoft Exel.
Make format for auto culculation.

For Fibo break format - just need to enter Open price,
for Pivot point - just enter open, high, low and close price.
The rest make it outo culculation

I like to use Pivot point because the loss is small.

I hope this may help you and everybody.

The format for Fibo break, you can get from earliear posting.

The format for Pivot is;
Pivot = (High + Low + Close) / 3,
Resistance 1 = (2 x Pivot) - Low
Resistance 2 = Pivot + (High - Low)
Resistance 3 = High + 2 x (Pivot - Low)
Support 1 = (2 x Pivot) - High
Support 2 = Pivot - (High - Low)
Support 3 = Low - 2 x (High - Pivot)

M1 =S1+S2/2,
M2 = PP+S1/2,
M3 = R1+PP/2,
M4 = R2+R1/2

If you have any question, just post it here.

Good luck!
Attached Image (click to enlarge)
Click to Enlarge Name: Fibo & Pivot Format.jpg Size: 39 KB
  • #49
  • Jun 29, 2007 3:01am Jun 29, 2007 3:01am
Hi Olaha,

how is your strategy going this week? I think very slow for this week. Anyway, I will test it next week.

Good luck to all.
  • #50
  • Jun 29, 2007 3:16am Jun 29, 2007 3:16am
Thanks Olaha, will test this next week. Hope this will be easier than so many other methods. Cheers,

Quoting Olaha
Dear Megapips,

I give you the format that help to make easy
See the attachment.
This is the formats, I make for everybody
that interested to use these system.
The attachment contain 2 example format;
1st is for Fibonacci Break Format,
2nd is for Pivot Point Format.
You could try either one.

Everybody can do this format in Microsoft Exel.
Make format for auto culculation.

For Fibo break format - just need to enter Open price,
for Pivot point - just enter open, high, low and close price.
The rest make it outo culculation

I like to use Pivot point because the loss is small.

I hope this may help you and everybody.

The format for Fibo break, you can get from earliear posting.

The format for Pivot is;
Pivot = (High + Low + Close) / 3,
Resistance 1 = (2 x Pivot) - Low
Resistance 2 = Pivot + (High - Low)
Resistance 3 = High + 2 x (Pivot - Low)
Support 1 = (2 x Pivot) - High
Support 2 = Pivot - (High - Low)
Support 3 = Low - 2 x (High - Pivot)

M1 =S1+S2/2,
M2 = PP+S1/2,
M3 = R1+PP/2,
M4 = R2+R1/2

If you have any question, just post it here.

Good luck!
  • #51
  • Jun 29, 2007 3:27am Jun 29, 2007 3:27am
Hi Venca,

This week.. is very slow.
Bcoz.. just bare in mind that...if the price reach around 2.0000...
the price will be very slow at certain period of time.

So, for this week.. I take the opportunity to try the Pivot point system bcoz I feel this system do not take so much money for stop loss.

Even you use the Fibo break system. You will play save. From my study, some no trade and some is loss around 10 pips. May be if use the fibo break, i might loss only 30 pips and profit 40 pips. so 10 pips only for the week.

But for my Pivot point system,

I earn 113pips in the a week and loss 13 pip in a week.

I hope with this information may convince you to try the pivot point system.

I would like to share some tips of how to use the Pivot Point;

When the market opens above the pivot, the bias for the day is on the long side. An open below it suggests a bearish bias.

Typically the trading range is confined between the first support and resistance levels and these along with the pivot itself are the most important areas for you to consider.

While looking at pivot points you should be looking for a reversal or break through of the support and resitance levels. If the level fails to hold, this suggests follow through, and the second level of support and resistance can be used as a target.

Interestingly, an area that was a strong support level can often become a resistance level once it has been violated and retraces back to that same level (and the inverse for a previously strong resistance level).

Good Luck!
  • #52
  • Edited 4:02am Jun 29, 2007 3:44am | Edited 4:02am
Hi everybody,

If you want to study the pivot system for this week..
just go through my attachment. From these information may help you to do some research.
Attached Images
  • #53
  • Jun 29, 2007 5:33am Jun 29, 2007 5:33am
Anybody manage to take again from 2.0033 entry?
Using the Pivot entry and Target R2 is posible.

Good Luck!
  • #54
  • Jun 29, 2007 5:54am Jun 29, 2007 5:54am
I think.. we shouldn't be greedy...
Just take until M4 ... 2.0073
bcoz the momentum is weak now...


Good Luck!
  • #55
  • Jun 29, 2007 6:03am Jun 29, 2007 6:03am
To whom take the entry at 2.0033...
Now place u SL at +5
At least u close with smth.... in case the price reverse.
  • #56
  • Jun 29, 2007 6:25am Jun 29, 2007 6:25am
Congratulation!

close with +5...
is better than nothing isn't it?

Wait for next signal again...
may be araund 8am EST
  • #57
  • Jun 29, 2007 6:40am Jun 29, 2007 6:40am
I think...we can enter again....
Good Luck
  • #58
  • Jun 29, 2007 6:57am Jun 29, 2007 6:57am
My Dear friends,

Just be aware of few news today...
Check your calender!

Happy trading...
  • #59
  • Jun 29, 2007 2:49pm Jun 29, 2007 2:49pm
Quoting MegaPips
Hi, Try these, maybe these are the ones you after.
Hello Mega, these indicator T_S_R_ Daily Range Display is removing Trend Lines when you move from one time frame to another.

Do you or anyone who knows programming can modify the indicator to not behave like this so the Trendlines could be seen in shorter timeframes!!??

Thanks!
  • #60
  • Jul 2, 2007 3:09am Jul 2, 2007 3:09am
Anybody using Pivot Point today?

If you using PP.. sure already take profit around 50 pips today.

1st entry- 20 pips
3nd entry - 30 pips

So all 50 pips...

Congratulation!
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