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Pivot Point with Money Management Strategy

  • #41
  • Jul 17, 2007 5:49am Jul 17, 2007 5:49am
I don't understand... R2(2.482) is not daily.
That is 4 hrs PP.
This is not the top yet... bullish trend still continue if the price doesn't break the 4 hrs P level to downward.

If possible, look for cross Stochastic at below 50 level, to get end of retracement.

Just be passion... wait for NY session because from now onn..anything can happen.


Quoting Pepejeans
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
  • #42
  • Jul 17, 2007 6:00am Jul 17, 2007 6:00am
this pivots you use only in GBPUSD or you trade with others pars...???
I read that some the day is not good for the par "x" and is good for others pars... this is because the news???
I begin on GBPUSD and i like, do you sugest me to see others pars or only in one GBPUSD???
  • #43
  • Jul 17, 2007 7:20am Jul 17, 2007 7:20am
I trade only GBP/USD. You can use other currency pairs.
If you like to trade without news effect, try to trade with GBP/JPY.
It does effect but not so much.
Try to trade with GBP/USD at this moment, so easy for you to follow up with me. Once you know to trade yourself...than you can take any currency/pairs.


Quoting Pepejeans
this pivots you use only in GBPUSD or you trade with others pars...???
I read that some the day is not good for the par "x" and is good for others pars... this is because the news???
I begin on GBPUSD and i like, do you sugest me to see others pars or only in one GBPUSD???
  • #44
  • Jul 17, 2007 7:26am Jul 17, 2007 7:26am
Just stand by for 8.30 EST news.
  • #45
  • Jul 17, 2007 7:29am Jul 17, 2007 7:29am
I work with ACM broker... do you now.... what you think???
there is a better broker??? i'm in europe-portugal and ACM is suisse... they have 4 pips in the major currency like GBPUSD, EURUSD in GBPJPY 10 pips... what you think about that???
We must wait to come out the news ???
  • #46
  • Jul 17, 2007 7:46am Jul 17, 2007 7:46am
You work with ACM broker in management or you use ACM broker to trade?
I can't say which is good. For my opinion, the smaller spread is better and the broker can give a good execution.

Check out this site;
http://fxtrade.oanda.com/spreads/com..._spreads.shtml

The news doesn't give much impact, so now we have to see if the price can break the 2.0480 level. If can't break, than we look for bearish bias.

I will look for break 2.0440 for sell.


Quoting Pepejeans
I work with ACM broker... do you now.... what you think???
there is a better broker??? i'm in europe-portugal and ACM is suisse... they have 4 pips in the major currency like GBPUSD, EURUSD in GBPJPY 10 pips... what you think about that???
We must wait to come out the news ???
  • #47
  • Jul 17, 2007 7:56am Jul 17, 2007 7:56am
I trade with ACM i make a deposit of 3000 euros (mini account) and for GBPUSD i have a 4 pips .... but in the site you give me ACM on GBPUSD have 3 pips.... it's a diferent account????
  • #48
  • Jul 17, 2007 7:58am Jul 17, 2007 7:58am
@Olaha why you don't trade when the news come??
cause now if we buy we can get many pips from the news
sorry if my english bad
  • #49
  • Jul 17, 2007 8:03am Jul 17, 2007 8:03am
I trade with Oanda. My spread for GBP/USD only 2.5 pips



Quoting Pepejeans
I trade with ACM i make a deposit of 3000 euros (mini account) and for GBPUSD i have a 4 pips .... but in the site you give me ACM on GBPUSD have 3 pips.... it's a diferent account????
  • #50
  • Jul 17, 2007 8:09am Jul 17, 2007 8:09am
I trade news after 5 minutes on release time. The spread is big (15-20 spread). So, I wait until the spread back to normal (2.5).

If I am very sure on the direction for the day, I will place an order.

Off course is good time to trade news...but if the price goes to wrong direction, you will loss the account. Sometimes.. I take the risk.

For those new trader, try avoid news release.


Quoting milano22
@Olaha why you don't trade when the news come??
cause now if we buy we can get many pips from the news
sorry if my english bad
  • #51
  • Edited 8:23am Jul 17, 2007 8:13am | Edited 8:23am
My pivots are plotting this way


BurlyWood - Daily, Gray - Weekly, Green - Monthly..
___
BTW , WolfeWave on GBPUSD ...
Attached Image (click to enlarge)
Click to Enlarge Name: pivots.jpg Size: 28 KB
Attached Image
  • #52
  • Edited 8:28am Jul 17, 2007 8:13am | Edited 8:28am
Quoting Olaha
I trade with Oanda. My spread for GBP/USD only 2.5 pips
Hi Olaha, haven't traded with Oanda for a while - how much did the spread widen around the news earlier?...from memory they used CPI and PPI to widen to 15-20 pips.

edit: ...just noticed your earlier post.
  • #53
  • Jul 17, 2007 8:27am Jul 17, 2007 8:27am
That is good.
Easy for you to see.
But you have to change ever hour.



Quoting vasyan
My pivots are plotting this way


BurlyWood - Daily, Gray - Weekly, Green - Monthly..
___
BTW , WolfeWave on GBPUSD ...
  • #54
  • Jul 17, 2007 8:30am Jul 17, 2007 8:30am
Yes...the spread around 15-20.
During the news release, they make the spread wide,
after a while the price reverse again. I still manage to catch a good price.



Quoting ChowClown
Hi Olaha, haven't traded with Oanda for a while - how much did the spread widen around the news earlier?...from memory they used CPI and PPI to widen to 15-20 pips.
  • #55
  • Jul 17, 2007 8:33am Jul 17, 2007 8:33am
Quoting Olaha
..
But you have to change ever hour.
Change what ?
  • #56
  • Jul 17, 2007 8:37am Jul 17, 2007 8:37am
Change the PP level

Quoting vasyan
Change what ?
  • #57
  • Jul 17, 2007 8:45am Jul 17, 2007 8:45am
the news apparently is positive for USD... GBPUSD go down????
if down 2.0440 put order to sell ?????
  • #58
  • Jul 17, 2007 8:48am Jul 17, 2007 8:48am
I have to go.
See you all tomorrow.
  • #59
  • Jul 17, 2007 8:49am Jul 17, 2007 8:49am
Yes!
Good Luck!
I don't want to take anymore.
I will take tomorrow.



Quoting Pepejeans
the news apparently is positive for USD... GBPUSD go down????
if down 2.0440 put order to sell ?????
  • #60
  • Jul 17, 2007 8:58am Jul 17, 2007 8:58am
I'm going to "vacanses" I'll come next wednesday...
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