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Pivot Point with Money Management Strategy

  • #421
  • Sep 25, 2007 2:44am Sep 25, 2007 2:44am
Is very easy system to follow actually.

If the price above the pivot- bullish,
If the price below the pivot - bearish,

The entry strategy is;
For buy:
Let the price test the R1 first for buy, after the price retrace, make sure the price retrace above the Pivot. If the price back to R1, than we enter buy.

For sell:
Let the price test the S1 first for sell, after the price retrace, make sure the price retrace below the Pivot. If the price back to S1, than we enter sell.

The daily, 4 hrs, hourly pivot is very important.
Normally.. I will use the hourly and 4 hr pivot for short-term entry.
To get a major direction- use daily pivot.

The range from R1-3 and S1-3, must be on big range.
Is around 30 - 100. If this happen... we can start plan,
how much lots you want to enter.

Don't worry... soon latter...you will know how to use this system.

Good Luck!

Quoting spillsome
Hello Olaha,

thanks for explaining your strategy.

I have a question about when to enter

"If the price above the PP level Daily, 4 hrs, hourly, we can enter at R1 hourly PP."

I understand, that the price must be greater than the 3 pp levels and in this case I go long.

Is that correct ?
  • #422
  • Sep 26, 2007 4:36am Sep 26, 2007 4:36am
nice strategy,
it would be much easier if you have the pivot calculator, I think you can have one for free at the blog earnforex.

Recently I also have one friend recommend me to use Forex Profit System, which also use pivot techniques, however I have not tried yet. Is there anyone here used it before? If yes, please share experience
  • #423
  • Sep 26, 2007 10:43am Sep 26, 2007 10:43am
Quoting smarttrader
nice strategy,
it would be much easier if you have the pivot calculator, I think you can have one for free at the blog earnforex.

Recently I also have one friend recommend me to use Forex Profit System, which also use pivot techniques, however I have not tried yet. Is there anyone here used it before? If yes, please share experience
hi smarttrader,
I have used it for 2 months. great results, last month i made 20/23 winning trades. it doesnt use technical indicators alone but it is a combo of candle patterns and tech indicators.
and the mentoring is great. I sent email to ask question and immediately got reply from support team
  • #424
  • Sep 27, 2007 12:12am Sep 27, 2007 12:12am
I hope you can share with us.


Quoting jackhu
hi smarttrader,
I have used it for 2 months. great results, last month i made 20/23 winning trades. it doesnt use technical indicators alone but it is a combo of candle patterns and tech indicators.
and the mentoring is great. I sent email to ask question and immediately got reply from support team
  • #425
  • Sep 27, 2007 10:41am Sep 27, 2007 10:41am
Quoting Olaha
I hope you can share with us.
sure, i don't mind
the system uses the engulfing candlestick pattern, combined with the 3 EMAs and Stochastic indicators, can use 5 mins, 15mins or 1 hour chart.

but I think you can buy it, because it comes a long with a lot of bonuses,e.g Fx National Live, and you can download a lot of EAs
  • #426
  • Sep 28, 2007 12:15am Sep 28, 2007 12:15am
Dear Jackhu,

I don't believe to buy a system.
I am prefer to get a free system.
I hope you can share with us what is the system about with more details.
Please share with us the charting setting with picture and explanation.


Quoting jackhu
sure, i don't mind
the system uses the engulfing candlestick pattern, combined with the 3 EMAs and Stochastic indicators, can use 5 mins, 15mins or 1 hour chart.

but I think you can buy it, because it comes a long with a lot of bonuses,e.g Fx National Live, and you can download a lot of EAs
  • #427
  • Sep 29, 2007 11:41pm Sep 29, 2007 11:41pm
Quoting Olaha
Dear Jackhu,

I don't believe to buy a system.
I am prefer to get a free system.
I hope you can share with us what is the system about with more details.
Please share with us the charting setting with picture and explanation.
up to you, bro
there is no free lunch in this world, so sometimes free system is not good, rite?
i am a little bit busy and i am not so familiar with capturing the chart, then cutting it, then posting it here, maybe i will figure out and do that some other times
  • #428
  • Sep 30, 2007 9:16pm Sep 30, 2007 9:16pm
Hey Olaha,

Just came across this tread. Good work, keep it up.
I wll be watching your teachings. Thanks for sharing.

AZ
I found the guy who keeps losing me money. Its "ME" SHOOT HIM!
  • #429
  • Oct 4, 2007 9:11pm Oct 4, 2007 9:11pm
Dear AZ,

I will try to keep update this thread.
Thank you for your interest on this system.
I hope everybody can make money on this system.
Look for my next thread.
This is very interesting.


Quoting AZ-Heat
Hey Olaha,

Just came across this tread. Good work, keep it up.
I wll be watching your teachings. Thanks for sharing.

AZ
  • #430
  • Oct 4, 2007 9:26pm Oct 4, 2007 9:26pm
Look for the attachment.


Additional rule;
To find the right price.
Before we calculate a pivot point, we should know to identify the right price to take. Look for valid bar/candlestick.

The valid bar/candlestick is ;
For Bullish - close price higher-high,
For Bearish - close price lower-low.

**Notes: Use Daily/Weekly/Monthly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Pivot setup.jpg Size: 421 KB
  • #431
  • Oct 5, 2007 1:42am Oct 5, 2007 1:42am
I just would like to share with everybody about the MACD Divergence..
This method of reading divergence may help us to make a good entry and exit decision together with our Pivot Point system.

http://www.investopedia.com/articles...ACDdiverge.asp

Study...study...study...
  • #432
  • Oct 5, 2007 2:40am Oct 5, 2007 2:40am
anyone seen this PP Calc Yet?
  • #433
  • Oct 5, 2007 2:41am Oct 5, 2007 2:41am
Hmmm. file didnt attach. I thought I knew how to do this.
  • #434
  • Oct 5, 2007 2:54am Oct 5, 2007 2:54am
This Pivot calculator also good to try;

http://www.earnforex.com/pivot_points_calculator.php
  • #435
  • Oct 5, 2007 2:58am Oct 5, 2007 2:58am
I need help from any one of you using Mac Powerbook G4.
Any one know about the pivot point software that work on Mac?
So far I found a few but only for windows.

Thank you.
  • #436
  • Oct 5, 2007 8:43am Oct 5, 2007 8:43am
Are you guys still looking for pivot calculators? They're all over the place. The generic floor pivots formula is:

H = previous high
L = previous low
C = previous close

P = (H+L+C)/3
R1 = (2*P)-L;
S1 = (2*P)-H;
R2 = P + H - L;
S2 = P - H - L;
R3 = (2*P) + (H - (2*L));
S3 = (2*P) - ((2*H)-L);

This applies for any periods, including hourly, 4-hr, 12-hr, daily, 5 min, whatever.

Just get an indicator and plug in the formulas and you're good to go. I could do this in 5 minutes with the indicators I have here. Good luck and I hope this helps!
  • #437
  • Oct 5, 2007 9:53pm Oct 5, 2007 9:53pm
Thank you for your feedback.
I know the formula and had it in my spreed sheet format.
I am looking for the Pivot Point Calculator something like Microsoft Windows using. They have window EXE file. This system can be use on offline and open in small window. So far, I can't find any with Mac. I hope someone could help me with this. That will be great to have it.




Quoting JoshDance
Are you guys still looking for pivot calculators? They're all over the place. The generic floor pivots formula is:

H = previous high
L = previous low
C = previous close

P = (H+L+C)/3
R1 = (2*P)-L;
S1 = (2*P)-H;
R2 = P + H - L;
S2 = P - H - L;
R3 = (2*P) + (H - (2*L));
S3 = (2*P) - ((2*H)-L);

This applies for any periods, including hourly, 4-hr, 12-hr, daily, 5 min, whatever.

Just get an indicator and plug in the formulas and you're good to go. I could do this in 5 minutes with the indicators I have here. Good luck and I hope this helps!
  • #438
  • Oct 5, 2007 10:14pm Oct 5, 2007 10:14pm
This way you have to type in OHLC for each hour... I know you're using a MAC, but if you use something like metatrader you can just code it onto your charts... so much easier.
  • #439
  • Oct 5, 2007 10:25pm Oct 5, 2007 10:25pm
Thx.. I think..I have to switch to Microsoft windows or upgrade my Mac to Window Vista then I can use metatrader or something similar.

Currently, I have no choice to calculate the pivot every hour, 3 hour and daily. Then, draw a line on the chart. A bit troublesome but what I can do. That only the choice that I have.

I hope, if any programmer here can do the software for Mac will be good.

I believe, one day.. there will be....


Quoting JoshDance
This way you have to type in OHLC for each hour... I know you're using a MAC, but if you use something like metatrader you can just code it onto your charts... so much easier.
  • #440
  • Oct 15, 2007 1:57am Oct 15, 2007 1:57am
Thanks Olaha for a great system.
I am new to forex and i am still on demo.
I could like to know how i can draw the MA in the window of Stochastics(i am using Oanda platform).

I will be grateful for your help.
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