the Set and Forget Pivot Net system

Quoting herty

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Hi Blueace,

Probably a stupid question but as they say there are no stupid questions. Could you please list the days (dates) you use for the calculations. Meaning "tonight's", "previous day", "last week's" etc which are not clear to me. I understand that yesterday was disregarded.

What got me confused was 1- the fact that the text from the MultiPivotsv2 indicator shows the "current day" with yesterday's data, and "previous day" with the day's before data. 2- Maybe I stil have the wrong timing on the charts, although I changed the indicator's time to GMT+4. I use IBFX whose charts are gmt.

BTW. Aren't the entry points R1+20 and S1-20 and not 2?

I'll appreciate your clearing that up.
Thanks a lot

Herty

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Quoting Bobcat2

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Thanks for the settings and entries for tonight's trades...much appreciated. Could you continue to make these posts for awhile until I get math down?

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Quoting Bobcat2

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Thanks for the settings and entries for tonight's trades...much appreciated. Could you continue to make these posts for awhile until I get math down?

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Quoting 555ngone

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E/U Sell and U/J buy both hit there TP. Pretty good first day.
Thanks again Blueace.

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Quoting Lenoxer

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Dear Blueace,

Thanks very much for your time and energy, your input and your graciousness. May I ask a couple of questions?

1) Is there any historic back test available? Backtesting wise if you use the ST-Pivot Point indicator you can quickly visually test my system. I have been trading this system for 8 months with positive results. During that time the system was refined so not all of my trades for the past 8 months had the same parameters. What have been your personal returns and DDs been in your live trading? My personal returns have been 5%-25% per month. Again my MM was not consistent for much of my time trading this way. I have been trading this way specifically for 4 months. My past parameters were more strict and I had fewer trades, the more often I trade this system the more returns I see. I say that only because overtrading with this system is near impossible, so I should say the more opportunities to trade this the more the returns. I have not seen more than 4 losses in a row. Granted that was on the same night.
2) Is there any special logic for the currency pairs you've chosen and those you haven't? yes I have gone through just about all of the pairs and this system and have chosen this 5 due to their volatility and more importantly their consistent volatility. Pairs like GBP/CHF are tempting to trade this with, but it's behavior is very erratic. If you wish to backtest or forward test other pairs feel free. I have just done a lot of footwork on the pairs and have found these to be the best movers. Other pairs will turn out positively, but with fewer chances for trades.
3) Cna you direct me to a link which explains why pivot points are predictive? If you do a google search you'll find a lot on PPs. They are one of the oldest methods, and most common, that traders use for entrys and exits. Any time there is a specific level that all traders recognize the bigger of an impact it makes. Horizontal trendlines for example are stronger than diagonal ones. For just the reason that everyone can see them. Not everyone can draw perfect diagonal trendlines.

Thanks so much,

Lenoxer

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Quoting blueace

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right on time Nick...I was busy working on this post when you wrote. Yes you are right about EU and UJ.


Here are my daily averages based on last weeks movement.

EU 135.2
GU 172.8
GJ 194.8
EJ 158.1
UJ 101.1

The only two pairs that qualify for tonight are EU (110.7) and UJ (96.1).

EU
buy: 1.46426
SL: 1.45945
TP: 1.47077

sell: 1.45264
SL: 1.45567
TP: 1.44879

UJ
buy: 108.766
SL: 108.455
TP: 109.143

sell: 107.751
SL: 108.167
TP: 107.218

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Quoting fkforex

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I've posted an excel file to hopefully make things a little faster for finding the daily range from the week before

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Quoting 555ngone

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Hi fkforex and welcome to ff.
Buying low and selling high sounds alot easier than it is, so blueace came up with this system which basically catches a move already in progress. We are not trying to catch the whole move, just a piece of it. That's all we really need.
I just started trading this method, so well see how it goes. One thing this system teaches you is patience, which is one of the hardest things for me.
I think you came to the right place to learn, Most of what I know about trading, is from this site.
That being said i am no expert and im still only micro trading, but i learn something new everyday.

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Quoting 555ngone

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I know, I couldnt get my trades in fast enough, I just made the G/U sell. Missed the G/J, but my spread is so high on that pair (9) im not really sure i want to trade it anyway.
Thanks for posting your trades Blueace

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Quoting blueace

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last night we had two winners EU and UJ. +3% total.

OKAY just as I was putting this post together we got hit with something . I have two trades already opened. I had entered mine in quickly to get my signals to you guys. This is very rare, but of course as I'm trying to share what I do I get a super curveball like this one.

Here are/were my setups.

We have three green lights for tonight.

here are the movements as I see on Oanda.

GU 156.4 (last weeks avg 135.2)
GJ 186.2 (172.8)
EJ 145.6 (158.1)

GU
LONG
1.79126
SL
1.78472
TP
1.80037

SHORT
1.77494
SL
1.77947
TP
1.76885


GJ
LONG
194.908
SL
194.176
TP
195.830

SHORT
192.906
SL
193.596
TP
192.046


EJ
LONG
158.487
SL
157.951
TP
159.190

SHORT
156.970
SL
157.500
TP
156.275

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Quoting thehenryfam

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Just a quick question, Blueace. If the prior day's movements are as you say for GU and GJ and are higher than the prior week's average, why are you then trading those pairs? I thought that took them out of consideration. Can you clarify?

Also, thanks for posting the trades. Guess you have to be fast at math with this strategy!

Scott

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Quoting blueace

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wonderful questions...maybe I should look at what I'm typing when I'm typing. Those were typos.

GU last week avg was 172.8 and today's move was 156.4
GJ last week avg was 194.8 and today's move was 186.2
EU last week avg was 158.1 and today's move was 145.6

My apologies. The unexpected big move rushed me a bit. Sorry about that.

Moves like that are unheard of...well with this system that is. The whole time I've been trading this I've never seen one like it. Expect the unexpected with forex I suppose.

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