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Pivot Point with Money Management Strategy

  • #201
  • Aug 22, 2007 4:39am Aug 22, 2007 4:39am
Do you ever trade during the US session? or only London session?
  • #202
  • Aug 22, 2007 4:52am Aug 22, 2007 4:52am
I try avoid US Session bcoz a lot of news release that time. I try to avoid make mistake and emotion trade.

Quoting S-Deuce
Do you ever trade during the US session? or only London session?
  • #203
  • Aug 22, 2007 4:58am Aug 22, 2007 4:58am
That is possible trade but risky.

Quoting S-Deuce
I saw that too =) was thinking the same thing. I hope you are right, cuz that means I would be too. lol
  • #204
  • Aug 22, 2007 5:11am Aug 22, 2007 5:11am
Quoting Olaha
That is possible trade but risky.
Why do you say risky?
  • #205
  • Aug 22, 2007 5:16am Aug 22, 2007 5:16am
this is good trade.
Look for 15 minutes chart.
4 hr PP
Attached Image (click to enlarge)
Click to Enlarge Name: good sample.jpg Size: 68 KB
Attached Image
  • #206
  • Aug 22, 2007 5:18am Aug 22, 2007 5:18am
based on 4hr pivot, it just hit R1, retracing back to pivot now? if it retraces and stays above 1.9841 then hits R1 again, enter with SL at pivot = 1.9841.

Range from R1- R3 = 36, so 2 lots if equity management allows it.

Take first lot at 1.9881, second at 1.9897?
  • #207
  • Aug 22, 2007 5:20am Aug 22, 2007 5:20am
question though, how do you know when retracement to the pivot is over?
  • #208
  • Aug 22, 2007 5:20am Aug 22, 2007 5:20am
bcoz the price already break the pivot 1.9841

Quoting S-Deuce
Why do you say risky?
  • #209
  • Aug 22, 2007 5:24am Aug 22, 2007 5:24am
why you have to wait for testing again... look at 3 hours ago... the price already tested.

we can enter at R1 aready.

Take first lot at 1.9881, second at 1.9897 ( correct)



Quoting S-Deuce
based on 4hr pivot, it just hit R1, retracing back to pivot now? if it retraces and stays above 1.9841 then hits R1 again, enter with SL at pivot = 1.9841.

Range from R1- R3 = 36, so 2 lots if equity management allows it.

Take first lot at 1.9881, second at 1.9897?
  • #210
  • Aug 22, 2007 5:26am Aug 22, 2007 5:26am
hmm didnt hit it 3 hours ago for my charts, says it went to a high of 1.9859?
  • #211
  • Aug 22, 2007 5:27am Aug 22, 2007 5:27am
bcoz that is the sign price is weak.


Quoting S-Deuce
question though, how do you know when retracement to the pivot is over?
  • #212
  • Aug 22, 2007 5:29am Aug 22, 2007 5:29am
the price is different bcoz of the spread.
Every broker give a different spread.


Quoting S-Deuce
hmm didnt hit it 3 hours ago for my charts, says it went to a high of 1.9859?
  • #213
  • Aug 22, 2007 5:30am Aug 22, 2007 5:30am
and even if it did test it 3 hours ago.. it still retraced and went below pivot point..?
  • #214
  • Aug 22, 2007 5:41am Aug 22, 2007 5:41am
You are correct...
Actual was after retracement just now.
I hope you can see the retracement happen few minutes ago.
Remember this is good trade.

For your all information,
The pivot for Daily and 4 hrs is can be use during news release.


Quoting S-Deuce
and even if it did test it 3 hours ago.. it still retraced and went below pivot point..?
  • #215
  • Aug 22, 2007 5:43am Aug 22, 2007 5:43am
Ya, i saw the retracement a few minute ago. but what I was asking is.. How do you know when the retracement is finished? As soon as it tests the R1, then goes down, the moment it comes back up and hits R1 again - thats the end of retracement?
  • #216
  • Aug 22, 2007 5:55am Aug 22, 2007 5:55am
In this case is different... this is the news release.
Is not advisable to take this trade for those new to trading.
I like to use 30 second and 1 minute chart to see the retracement during the news release. The price also retrace above the pivot for daily, 4 hrs and hourly. That is great...




Quoting S-Deuce
Ya, i saw the retracement a few minute ago. but what I was asking is.. How do you know when the retracement is finished? As soon as it tests the R1, then goes down, the moment it comes back up and hits R1 again - thats the end of retracement?
  • #217
  • Aug 22, 2007 5:58am Aug 22, 2007 5:58am
Quoting Olaha
In this case is different... this is the news release.
Is not advisable to take this trade for those new to trading.
I like to use 30 second and 1 minute chart to see the retracement during the news release. The price also retrace above the pivot for daily, 4 hrs and hourly. That is great...
hmmm.. so if you are trading 4hr pivot on 15m time frame.. once it hits the R1 /S1 on the 15m time frame, you then go to the 1m charts to watch for retracement? or what?
  • #218
  • Aug 22, 2007 5:58am Aug 22, 2007 5:58am
Anybody manage to take 36 pips.

I manage to close 2 lots;
20/16
  • #219
  • Aug 22, 2007 6:00am Aug 22, 2007 6:00am
yes... i like to use 1 minutes to see more clear retracement. Once I see the signal... I change my chart to 1 minutes or 30 second.

Quoting S-Deuce
hmmm.. so if you are trading 4hr pivot on 15m time frame.. once it hits the R1 /S1 on the 15m time frame, you then go to the 1m charts to watch for retracement? or what?
  • #220
  • Aug 22, 2007 6:02am Aug 22, 2007 6:02am
Quoting Olaha
yes... i like to use 1 minutes to see more clear retracement. Once I see the signal... I change my chart to 1 minutes or 30 second.
ahh ok, yes i see now. You can see retracement much better.
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