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Pivot Point Squeeze, high probability system

  • #601
  • Jan 8, 2008 6:42am Jan 8, 2008 6:42am
Quoting Trader KGB
True, there was a 70 pip drawdown on this most recent signal. Sure, it's turned around and gone positive since, but who's going to hang on to -70? The stop loss parameters need to be fine tuned a bit.
Exactly, I was stopped out on the long trade. As said previous, I never use my usual allotment on mondays as this is a naturally non-trending day. It does give nice trades sometimes, but backtesting has shown it to yield more head-fakes and trendless trading ranges. The second trade was given while I was asleep(Australian times ) but for the previous reason, I had no desire to enter again. I really have to figure out how to have sms alerts for this system!
  • #602
  • Jan 8, 2008 8:14am Jan 8, 2008 8:14am
Wow hope someone caught the nice squeeze 14gmt today on the EJ 70 pip down move in less than an hour with a really nice squeeze. Kicking myself I had to leave for an hour when I was up all night waiting for something haha
  • #603
  • Jan 8, 2008 4:28pm Jan 8, 2008 4:28pm
Quoting jonaslt
Wow hope someone caught the nice squeeze 14gmt today on the EJ 70 pip down move in less than an hour with a really nice squeeze. Kicking myself I had to leave for an hour when I was up all night waiting for something haha
Thats what Im talking about Jonas, need those damn sms alerts hey! PRT has sms alerts but only on their indicators, not custom ones. They are working on it atm and will email me when this is done. IGMarkets don't have them either. I believe GFT may have them tho...
  • #604
  • Jan 9, 2008 3:58am Jan 9, 2008 3:58am
Quoting dynami
Did anyone see and get in the latest trade? It has been over now for 3 hours but it was one hell of a nice trade!
I think you're using different code than mine. Did GCT supplement the code beyond what he put in that original Word doc from page 1? I still only have that one trade from early Sunday, exited yesterday for break even.
Attached Image (click to enlarge)
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  • #605
  • Jan 9, 2008 6:30am Jan 9, 2008 6:30am
Great system.
On the first charts of this thread, there were 2 indicators named "equity curve" and "positions".
Is it possible to obtain them separately in mq4 ?
Thanks.
  • #606
  • Jan 10, 2008 7:04am Jan 10, 2008 7:04am
Euroyen is down to a 0.0033 atm. Below the trigger line and could signal a nice entry. Keep an eye on this one! It has been in a range from 16000 to 16150 for the last 5 trading days. It is currently sitting on the pivot point and having trouble breaking below today. My alarms are sitting and waiting!
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (-).png Size: 28 KB
  • #607
  • Jan 10, 2008 7:24am Jan 10, 2008 7:24am
ya, i still keep on see the chart.... can post here when it it a entry?/

thank you

it will be a nice trade
  • #608
  • Jan 10, 2008 7:32am Jan 10, 2008 7:32am
Quoting nklin88
ya, i still keep on see the chart.... can post here when it it a entry?/

thank you

it will be a nice trade
When my alarms sound, I will post as well.
  • #609
  • Jan 10, 2008 7:36am Jan 10, 2008 7:36am
Quoting dynami
When my alarms sound, I will post as well.

look like it is a sell
  • #610
  • Jan 10, 2008 7:42am Jan 10, 2008 7:42am
it hasn't signaled yet on the hourly although on the 10 and 15min a sell has been signaled although they can sometimes be unreliable.
  • #611
  • Jan 10, 2008 7:44am Jan 10, 2008 7:44am
.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (-).png Size: 20 KB
Click to Enlarge Name: Spot FX EUR_JPY 1(-).png Size: 19 KB
  • #612
  • Jan 10, 2008 7:48am Jan 10, 2008 7:48am
Jean Claude Trichet is speaking atm on the economy so it could go either way. The hourly would be a safer bet or the shorter time frames which already signal an entry can sometimes give rise to a signal in the 1 hour chart a bit earlier albeit riskier.
  • #613
  • Jan 10, 2008 7:52am Jan 10, 2008 7:52am
Quoting dynami
the shorter time frames which already signal an entry can sometimes give rise to a signal in the 1 hour chart a bit earlier albeit riskier.
Once the pivot is broken, if the hourly hasn't given a signal, it can't give a signal later on. It must be generated on a pivot break (at least according to GCT's original rule set).
  • #614
  • Jan 10, 2008 7:52am Jan 10, 2008 7:52am
Quoting dynami
.

H1 not confirm wait.... i will wait

thanks for your post
  • #615
  • Jan 10, 2008 7:58am Jan 10, 2008 7:58am
If it also goes below 16000, get ready for a ride. It has been a support line since the 22nd of oct. Have been dancing off it for the last five days, testing it...
  • #616
  • Jan 10, 2008 8:06am Jan 10, 2008 8:06am
Quoting Trader KGB
Once the pivot is broken, if the hourly hasn't given a signal, it can't give a signal later on. It must be generated on a pivot break (at least according to GCT's original rule set).
True, it must signal within a certain range of the pivot points. That was the original Pivot point deviation value given in the code. If I remember correctly, it was optimized to be about 14 pips from the pivot points.

The chart has just signaled a short although the candle has not closed yet. If it goes back up, the BBW could decrease again. As always, do your own analysis to make your own conclusion.
  • #617
  • Jan 10, 2008 8:09am Jan 10, 2008 8:09am
Quoting dynami
If it also goes below 16000, get ready for a ride. It has been a support line since the 22nd of oct. Have been dancing off it for the last five days, testing it...

i am in the trade

160.83

hope close in profit
  • #618
  • Jan 10, 2008 8:11am Jan 10, 2008 8:11am
Quoting nklin88
i am in the trade

160.83

hope close in profit
What stop distance are you using? It should be atleast 16108 to give it room to bounce off the pivot point if it heads back up there.
  • #619
  • Jan 10, 2008 8:13am Jan 10, 2008 8:13am
1st TP is at 16030 unless signaled an exit using the MACD turnaround method. Hope it keeps going our way!
  • #620
  • Jan 10, 2008 9:44am Jan 10, 2008 9:44am
Quoting dynami
What stop distance are you using? It should be atleast 16108 to give it room to bounce off the pivot point if it heads back up there.


i use R1 for stop...... safe from sl, floating......

tp will be S1......
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