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Pivot Point with Money Management Strategy

  • #21
  • Jul 17, 2007 1:35am Jul 17, 2007 1:35am
Now price testing the R1 - 2.0375 level.
We hold at this price.
Wait until the London session open.
The price will retrace by now and came back again when the
London session open.

Good Luck!
  • #22
  • Jul 17, 2007 2:37am Jul 17, 2007 2:37am
I think.. most of you can see the movement of the price.
Now the price just want to retrace.
Look at the stochastic that I explain earlier, wait for a new cross upward from below stochastic 50 level.

Just stand by...this will happen soon.

Be aware that we have a news release soon.
Try out of trade 15 minutes before the news release.

Good Luck!
  • #23
  • Jul 17, 2007 2:53am Jul 17, 2007 2:53am
I use/am still learning a system that is quite similar to what you are doing. It is based on PP support & resistance. I use some different indicators. I'm still learning it myself so i don't really want to say much, until I get better, but I will say with a trending pair, I have found this to be a powerful method. I have been using it on the AUD/USD the last 2 weeks. 75 Pips last week. 117 this week. The hardest part for me has been the discipline to stay with my plan, although I am starting to feel like I am winning that battle. please keep us informed & if I feel comfortable adding to your thoughts I will.
  • #24
  • Jul 17, 2007 3:02am Jul 17, 2007 3:02am
I buy at 2.0386 since 6h45 GMT (5 lot=5:1mini lot)... my mistake....
what sugest please close or keep goin
  • #25
  • Jul 17, 2007 3:06am Jul 17, 2007 3:06am
Seem you doing great.. 117 pips.

I give some tips for you, how to be discipline;
1). Wake-up in the morning, same time every day,
2). Sleep also at the same time every day,
3). Eat also at the same time every day,
4). Take a bath also the same time every day.
5). Exercise at the same time every day (15 minutes).

Practice those for 1 week. If you can do those, you will manage to follow your own rule of trading.

As I mention earlier, if you can discipline yourself in routine/daily life... we can discipline ourself in trading also.

Good Luck!


Quoting rbock
I use/am still learning a system that is quite similar to what you are doing. It is based on PP support & resistance. I use some different indicators. I'm still learning it myself so i don't really want to say much, until I get better, but I will say with a trending pair, I have found this to be a powerful method. I have been using it on the AUD/USD the last 2 weeks. 75 Pips last week. 117 this week. The hardest part for me has been the discipline to stay with my plan, although I am starting to feel like I am winning that battle. please keep us informed & if I feel comfortable adding to your thoughts I will.
  • #26
  • Jul 17, 2007 3:09am Jul 17, 2007 3:09am
What is your SL?
Why you buy 5 lots?
The range for now is 24 pips, my advise... with this range, we can buy 1 lot only.


Quoting Pepejeans
I buy at 2.0386 since 6h45 GMT (5 lot=5:1mini lot)... my mistake....
what sugest please close or keep goin
  • #27
  • Jul 17, 2007 3:14am Jul 17, 2007 3:14am
Pepejeans,

Keep it... bullish trend still strong but keep your SL at 2.0361 area.



Quoting Olaha
What is your SL?
Why you buy 5 lots?
The range for now is 24 pips, my advise... with this range, we can buy 1 lot only.
  • #28
  • Jul 17, 2007 3:17am Jul 17, 2007 3:17am
i usual use 10 pips but in this moment i have -12 pips...
yesterday i write the rules to stude best, but i forget that the range of h4
  • #29
  • Jul 17, 2007 3:21am Jul 17, 2007 3:21am
Use 4 hours PP. Calculate the range from R1 to R3. Than you will know how much lots you should buy/sell.



Quoting Pepejeans
i usual use 10 pips but in this moment i have -12 pips...
yesterday i write the rules to stude best, but i forget that the range of h4
  • #30
  • Jul 17, 2007 3:25am Jul 17, 2007 3:25am
Pepejeans,

Your SL is very close. Try to use at lease 20 pips SL.
If you use SL 10 pips, that easy to sweep away.



Quoting Pepejeans
i usual use 10 pips but in this moment i have -12 pips...
yesterday i write the rules to stude best, but i forget that the range of h4
  • #31
  • Jul 17, 2007 3:34am Jul 17, 2007 3:34am
Pepejeans,

Do you manage to move your SL?
Congratulation.. you manage to close all your 5 lots.
  • #32
  • Jul 17, 2007 3:36am Jul 17, 2007 3:36am
Now i studet right
H4 range PP: 1 lot for every 20 pips
Range Lot
<40 1 lot
>40<50 2 lot
>50<70 3 lot
>70<80 4 lot
>90<100 5 lot
this is correct ???

YYYYYEEEEEEESSSSS thanks Olaha.... i have luck but i think i learn
  • #33
  • Jul 17, 2007 3:42am Jul 17, 2007 3:42am
I manage to take 25 pips. I place my order at R2 2.0385.
I take profit at 2.0410. I know during the news release we can take around 50 pips.

From now on, the price start retracing.
So I think.. you all can close..rest..drink tea/coffee..
Came back again during NY Session.


Good Luck!
  • #34
  • Jul 17, 2007 3:44am Jul 17, 2007 3:44am
Yes...that is correct....
"Good student must follow the rule".
Remember that..



Quoting Pepejeans
Now i studet right
H4 range PP: 1 lot for every 20 pips
Range Lot
<40 1 lot
>40<50 2 lot
>50<70 3 lot
>70<80 4 lot
>90<100 5 lot
this is correct ???

YYYYYEEEEEEESSSSS thanks Olaha.... i have luck but i think i learn
  • #35
  • Jul 17, 2007 3:50am Jul 17, 2007 3:50am
yes i'm going to do that rsrsrsrs.... i close 50.000 = 5 lots:
30.000 = 2.0393 = + 7 pips (I have afraid to go down)
10.000 = 2.0406 = + 20
10.000 = 2.0401 = + 15
42 / 3 = 14 pips
  • #36
  • Jul 17, 2007 3:56am Jul 17, 2007 3:56am
That is ok...

Anywhere learn from mistake.
No mistake..you will not learn anything...
From mistake.....you will remember.....and do not do it again.

You see the price, still move towards Daily R2?
The max for this session will be at R2 on Daily PP.
I hope this price will hold until Ny Session, than we will take again for bearish trend.



Quoting Pepejeans
yes i'm going to do that rsrsrsrs.... i close 50.000 = 5 lots:
30.000 = 2.0393 = + 7 pips (I have afraid to go down)
10.000 = 2.0406 = + 20
10.000 = 2.0401 = + 15
42 / 3 = 14 pips
  • #37
  • Jul 17, 2007 5:13am Jul 17, 2007 5:13am
The bullish trend still continue.
Attached Image
  • #38
  • Jul 17, 2007 5:18am Jul 17, 2007 5:18am
Try take up to R2 (4 hours PP)
  • #39
  • Jul 17, 2007 5:35am Jul 17, 2007 5:35am
Don't enter now. We have to wait for retracement.
May be this level can be use on NY session.

Good Luck!
  • #40
  • Jul 17, 2007 5:42am Jul 17, 2007 5:42am
if enter at the Daily R2 (2.0482) this is not the top???
Now is fall (retrace), i must enter on the end of the retrace or in R2 of daily???
i hope you understend my english.... rsrsrs
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