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Pivot Point with Money Management Strategy

  • #301
  • Aug 24, 2007 3:11am Aug 24, 2007 3:11am
ok...I have to go..
See you all next week..

Have a good week end...
  • #302
  • Aug 24, 2007 10:35am Aug 24, 2007 10:35am
Once we know when is the best time to trade, we should know what is the trend for the day. The easy way to find the direction of the trend for the days is using the Pivot Point (PP). If the opening price is above the PP means Bullish. If the opening price is below the PP means Bearish.


hi olaha:
in this you said the ''open price''.it mean what time is price?
thx
  • #303
  • Aug 24, 2007 2:50pm Aug 24, 2007 2:50pm
Dear Olaha,

I have been an ardent fan of Pivot Points (daily pivots) & Fibs... and have been trading them for the last six months with decent results...
Your thread has some priceless suggestions to improve my trading...

Will try and modify my simple pivot trading method to suit yours and be able to get better results.
Will let you know how it goes.
Keep up the good work Olaha. God bless .

Regards,
Suri
  • #304
  • Aug 27, 2007 12:15am Aug 27, 2007 12:15am
Okay since this is my 1st attempt to understand the way olaha trade

I'll try to make my own view about today
since price is already try R1 today and goes back below pivot in 4hrs chart so it is not confirm yet to do the trade am i right ??

Open Price is above pivot on 4 hrs and 1 hrs
so it's moderate bullish for today, am i doing this rite ????
Every moment in the market is unique
  • #305
  • Aug 27, 2007 12:46am Aug 27, 2007 12:46am
I got in at 2.0174. Let me tell you why.
when the market opened today at 7 gmt, the 4 hr PP = 2.0157 and R1 = 2.0174, R3 = 2.0220

see if you look at the charts you will see that price retraced down to 2.0171 and then retraced back up. thats when i entered. i will close first order at 2.0194 and then move second order to BE. Lets see how the market reacts.

Quoting andimozza
Okay since this is my 1st attempt to understand the way olaha trade

I'll try to make my own view about today
since price is already try R1 today and goes back below pivot in 4hrs chart so it is not confirm yet to do the trade am i right ??

Open Price is above pivot on 4 hrs and 1 hrs
so it's moderate bullish for today, am i doing this rite ????
  • #306
  • Aug 27, 2007 1:05am Aug 27, 2007 1:05am
london is holiday.
  • #307
  • Aug 27, 2007 1:12am Aug 27, 2007 1:12am
Leo... you are good...

London holiday... so no trade for GBP/USD

Today.. I don't trade... I am also holiday...



Quoting leo221
london is holiday.
  • #308
  • Aug 27, 2007 1:15am Aug 27, 2007 1:15am
Good..

5am EST



Quoting leo221
Once we know when is the best time to trade, we should know what is the trend for the day. The easy way to find the direction of the trend for the days is using the Pivot Point (PP). If the opening price is above the PP means Bullish. If the opening price is below the PP means Bearish.


hi olaha:
in this you said the ''open price''.it mean what time is price?
thx
  • #309
  • Aug 27, 2007 1:20am Aug 27, 2007 1:20am
Hi Surin,

Your are welcome to my Thread.

You can join our forum during the trading day.
While you trade.. you can follow-up our forum on the real trading time.
The strategy also discuss base on real time trading.

Your are welcome to give some suggestion, on to improve this system.
But make sure is simple, easy to use and easy to understand.

Good Luck!


Quoting surendrashettys
Dear Olaha,

I have been an ardent fan of Pivot Points (daily pivots) & Fibs... and have been trading them for the last six months with decent results...
Your thread has some priceless suggestions to improve my trading...

Will try and modify my simple pivot trading method to suit yours and be able to get better results.
Will let you know how it goes.
Keep up the good work Olaha. God bless .

Regards,
Suri
  • #310
  • Aug 27, 2007 1:26am Aug 27, 2007 1:26am
5am est=? GMT
thx
  • #311
  • Aug 27, 2007 1:32am Aug 27, 2007 1:32am
if price above daily pivot and 4 hrs pivot but below 1 hrs pivot
do we consider that as bullish also ??
Every moment in the market is unique
  • #312
  • Aug 27, 2007 2:34am Aug 27, 2007 2:34am
For long term strategy... u r right....
But today is holiday for GBP/USD... so no trade...
Next time.. before you start trade, check your calender first.

If you have any open trade... pls close at "break even" or minimize your loss or take small profit (5-10 pips)




Quoting andimozza
Okay since this is my 1st attempt to understand the way olaha trade

I'll try to make my own view about today
since price is already try R1 today and goes back below pivot in 4hrs chart so it is not confirm yet to do the trade am i right ??

Open Price is above pivot on 4 hrs and 1 hrs
so it's moderate bullish for today, am i doing this rite ????
  • #313
  • Aug 27, 2007 2:38am Aug 27, 2007 2:38am
Dear Olaha,

I would like to join your club. I found your trading systems on this forum and I think they both are great. First I red your first thread “Simple Trading system for Intraday/short term” and I was having pretty good results with it on paper trading.
Now I am reading this Pivot Point system and I am trying to learn the way you trade.
Thank you. All the best.

Rodrigo.
  • #314
  • Aug 27, 2007 2:41am Aug 27, 2007 2:41am
Yes.. bullish trend for the day.
Thats means.. we have to wait for the 1 hr pivot became bullish.
Than we can enter the trade.



Quoting andimozza
if price above daily pivot and 4 hrs pivot but below 1 hrs pivot
do we consider that as bullish also ??
  • #315
  • Aug 27, 2007 2:47am Aug 27, 2007 2:47am
10 GMT


Quoting leo221
5am est=? GMT
thx
  • #316
  • Aug 27, 2007 3:00am Aug 27, 2007 3:00am
You are welcome to this Thread.
I hope you will learn this system from this thread and share
the system to your loving people.

Good Luck!


Quoting Rodrigo
Dear Olaha,

I would like to join your club. I found your trading systems on this forum and I think they both are great. First I red your first thread “Simple Trading system for Intraday/short term” and I was having pretty good results with it on paper trading.
Now I am reading this Pivot Point system and I am trying to learn the way you trade.
Thank you. All the best.

Rodrigo.
  • #317
  • Aug 27, 2007 3:09am Aug 27, 2007 3:09am
Quoting Olaha
For long term strategy... u r right....
But today is holiday for GBP/USD... so no trade...
Next time.. before you start trade, check your calender first.

If you have any open trade... pls close at "break even" or minimize your loss or take small profit (5-10 pips)
Okay thx a lot Olaha

I'm still paper trade this strategy
I'll give it a try for a month before i go live
Every moment in the market is unique
  • #318
  • Aug 27, 2007 3:12am Aug 27, 2007 3:12am
Ok good.

If you want to try in real also can, but try with a small unit.
May be can try 100 units to 500 units.
Trade in real can bring more confident and discipline.


Quoting andimozza
Okay thx a lot Olaha

I'm still paper trade this strategy
I'll give it a try for a month before i go live
  • #319
  • Aug 27, 2007 3:14am Aug 27, 2007 3:14am
For your all information...

I have to go now...
If any question...
Just send today, I will reply by tmrw.

Good Luck!
  • #320
  • Aug 27, 2007 7:52am Aug 27, 2007 7:52am
Dear Olaha,

I would like to ask you some questions. Why did you change the first system to the “Pivot Point with Money Management Strategy?” I was getting good results with the first system and I was surprised how accurrate the fibo levels were and the stochastic and RSI worked well.
I am sure that this Pivot Point system works well too.
Is this system more accurate and profitable than the previous one? Or does it give more trading opportunities during the day?
The stochastic that you use is it stochastic slow or fast?
Thank you

Rodrigo.
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