Weekly Pivot System

This simple system works great in my live tests.

This is a snippet from the last week. So far I made about 48% in two month. But there will be bad month too...

http://www.weeklypips.com/charts/tra...ns1_271007.png

http://www.weeklypips.com/charts/tra...ns2_271007.png

Open positions:
http://www.weeklypips.com/charts/ope...ons_271007.png

Results
Balance: $1,481.81
W/L in $: +481.81
W/L in %: +48.18
Trades: 22
Wins: 12
Losses: 10
Profit factor: 2.47

Results in Pips since 01-Sep-07
AUD/JPY: +1,174
AUD/USD: +267
EUR/USD: -342
GBP/JPY: -694
NZD/USD: +489

Regards - Xaron

Hmm... I guess I should have named my thread "1000 PIPS PER MONTH!!!" or so.

Regards - Xaron

Hi,

here are the results from the last week:

http://www.weeklypips.com/charts/tra...ons_051107.png

Open positions:
http://www.weeklypips.com/charts/ope...ons_051107.png

Results
Balance: $1,606.00
W/L in $: +606.00
W/L in %: +60.60
Trades: 24
Wins: 14
Losses: 10
Profit factor: 2.84

Results in Pips since 01-Sep-07
AUD/JPY: +1,174
AUD/USD: +529
EUR/USD: -342
GBP/JPY: -623
NZD/USD: +489

Regards - Xaron

Well done, Xaron!

Just one remaining question: How do you calculate the number of units used for each pair?

Thanks

Forex37

Thanks! I keep it simple and use 5% of my margin per pair. I know this leads to different risks per pair. If you want to make it correct you would have to compute the position sizes based on the stop loss. But as I use a very small account I've skipped this part.

Regards - Xaron

Hi,

here are the results from the last week:

http://www.weeklypips.com/charts/tra...ons_101107.png

Results
Balance: $1,499.06
W/L in $: +499.06
W/L in %: +49.90
Trades: 28
Wins: 16
Losses: 12
Profit factor: 1.97

Results in Pips since 01-Sep-07
AUD/JPY: +934
AUD/USD: +300
EUR/USD: -84
GBP/JPY: -553
NZD/USD: +489

Regards - Xaron

Hi,

This seems like a simple a great system, how I like it, leave it and let it run

1. I am being thick here, can you please show me an example of how you would place your TP and SL?

2. Do you never think about moving to SL to break even once you are in the green pips?

3. When do you place your orders? When the market is closed, Friday/Saturday night (GTM)? So that would be beginning of the week and close end of the week i.e Friday night (GTM) when New York Session runs?

Thanks,
Guess

Ohh another thing... do you use different lot sizes as I see your balance is lower than before, yet you are in positive pips?

Thanks for posting and thanks for your interest!

I don't understand your first question. I just put two orders per pair into the market...

I've thought about moving the stop to break even but it's a pure mechanical system so I still don't do it. But it's definitely a thing to think about.

I place my orders on saturday or sunday. As I use Oanda, this is possible. If I don't have any time at the weekend, I place my orders on monday morning.

I always use 5% of my net asset value for every pair. This might not be the best way but it works good for me as I compound a little bit.

Regards - Xaron

P.S.: My account is up to 70% now.

Hi,

here are the results from the last week:

http://www.weeklypips.com/charts/tra...ons_171107.png

Open positions:

http://www.weeklypips.com/charts/ope...ons_171107.png


Results
Balance: $1,736.89
W/L in $: +736.89
W/L in %: +73.69
Trades: 32
Wins: 19
Losses: 13
Profit factor: 2.23

Results in Pips since 01-Sep-07
AUD/JPY: +1,445
AUD/USD: +564
EUR/USD: -84
GBP/JPY: -484
NZD/USD: +327

Regards - Xaron

Hello

I like your idea of using weekly pivot point. However i would like to share something with you. Maybe you like it. Maybe you dont.

You use the weekly pivot points on the 4 hr charts.

I have attached a chart to illustrate my strategie. Now theory is that once price breaks Pivot Point (PP) to the upside it would go to R1. And once it has broken R1 is will go to R2. And once it has broken R2 it will go to R3. By this time the market will be overbought and you would look to go short back to R2 and then R1 and then PP.

The same applies for short trades. Once price breaks PP to the downside it would go to S1 and then once it has broken S1 it will go to S2. And once it has broken S2 it would go to S3 and once it has reached S3 market will be oversold ans you would look to go long again.

So what i do it wait for price to break PP, Support or Resistance level and also wait for candle to close above S/R level and then go long with the trend.

In the first half of the chart i would go long as soon as candle that breaks S2 closes. I would enter on opening of next candle. I then put my stop loss under the candle that broke S2. My profit target is S1.

Then i would wait for candle to close above S1. I would enter long on opening of new candle. And so i would repeat the process till we get to R3. By that time the market would be overbought and i would look to go short.

Maybe this could help you.

Thanks! I'll have a deeper look at it.

Regards - Xaron

Hi,

here are the results from the last week:

http://www.weeklypips.com/charts/tra...ons_241107.png

Open positions:

http://www.weeklypips.com/charts/ope...ons_241107.png


Results
Balance: $1,743.83
W/L in $: +743.83
W/L in %: +74.38
Trades: 33
Wins: 20
Losses: 13
Max win in $: +198.38
Max loss in $: -97.82
Average win in $: +67.34
Average loss in $: -46.07
Profit factor: 2.25

Results in Pips since 01-Sep-07
AUD/JPY: +1,445
AUD/USD: +564
EUR/USD: -84
GBP/JPY: -417
NZD/USD: +327

Regards - Xaron

hi,

nice pips there bro

have you coded it into ea for mt4?

just asking

No, haven't done this yet. One guy in my little forum did it. But I haven't tested it yet.

Here is the link:
http://rapidshare.com/files/71630447...Pips_v0.91.zip

Regards - Xaron

Xaron,

What's the latest on this?

Thanks,
Guess

Hi, sorry for the late update...

Here are the results from the last 2 weeks. The most exciting thing was the wrong spike in EUR/USD which was corrected by Oanda:

http://www.weeklypips.com/charts/tra...s_081207_1.png

http://www.weeklypips.com/charts/tra...s_081207_2.png

http://www.weeklypips.com/charts/tra...s_081207_3.png

Open positions:

http://www.weeklypips.com/charts/ope...ons_081207.png

More detailed results will follow...

Regards - Xaron

Hi,

sorry for the late update. I had a serious drawdown during christmas due to the following reason: I did not manage my account for about one month...

http://www.weeklypips.com/charts/tra...s_130108_1.png

http://www.weeklypips.com/charts/tra...s_130108_2.png

http://www.weeklypips.com/charts/tra...s_130108_3.png

http://www.weeklypips.com/charts/tra...s_130108_4.png

Regards - Xaron

http://www.weeklypips.com/charts/tra...s_030208_1.png

http://www.weeklypips.com/charts/tra...s_030208_2.png

http://www.weeklypips.com/charts/tra...s_030208_3.png

http://www.weeklypips.com/charts/tra...s_030208_4.png

Regards - Xaron

http://www.weeklypips.com/charts/tra...s_240208_1.png

http://www.weeklypips.com/charts/tra...s_240208_2.png

http://www.weeklypips.com/charts/tra...s_240208_3.png

Open positions:

http://www.weeklypips.com/charts/ope...ons_250208.png

Regards - Xaron