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the Set and Forget Pivot Net system

  • #161
  • Sep 9, 2008 10:46pm Sep 9, 2008 10:46pm
Looks like we'll be trading 4 pairs for tonight.

EU
GU
GJ
UJ
  • #162
  • Sep 9, 2008 11:50pm Sep 9, 2008 11:50pm
When you get a chance, would you mind posting your entries for us? I've already entered my orders, but some of the numbers seem pretty far out and unlikely to get hit either long or short. So just curious if I've made a mistake somewhere.

Thanks!

Quoting blueace
Looks like we'll be trading 4 pairs for tonight.

EU
GU
GJ
UJ
Prices are never too high to begin buying or too low to begin selling.
  • #163
  • Sep 9, 2008 11:55pm Sep 9, 2008 11:55pm
Quoting thehenryfam
When you get a chance, would you mind posting your entries for us? I've already entered my orders, but some of the numbers seem pretty far out and unlikely to get hit either long or short. So just curious if I've made a mistake somewhere.

Thanks!
9/10
EU
LONG
1.42244
SL
1.41642
TP
1.43076
SHORT
1.40514
SL
1.41083
TP
1.39731

GU
LONG
1.77135
SL
1.76515
TP
1.77995
SHORT
1.75263
SL
1.75904
TP
1.74372

GJ
LONG
190.876
SL
189.618
TP
192.640
SHORT
187.307
SL
188.453
TP
185.712

UJ
LONG
108.110
SL
107.490
TP
108.970
SHORT
106.525
SL
107.023
TP
105.848
  • #164
  • Sep 10, 2008 5:26am Sep 10, 2008 5:26am
hi

why you do not trade evry day

thanks
  • #165
  • Sep 10, 2008 7:36am Sep 10, 2008 7:36am
The market hit the sell order on GJ, and it just turned around and bee-lined for the SL. Too funny sometimes.
Life is too short to have anything but delusional notions about yourself.
  • #166
  • Sep 10, 2008 8:48am Sep 10, 2008 8:48am
I have a feeling that we're heading towards a negative p/l this week, but hopefully I'm wrong. Blueace, how often does this strategy encounter negative weekly p/l, according to your 8-mth forward test? What is the largest number of consecutive weeks of negative p/l have you encountered? How about consecutive positive p/l? (Note: all p/l mentioned are weekly)

Also I discover that the movements of the three currencies (G,E,U) against Japanese yen is strikingly similar. This might indicate that the performance of this strategy is heavily depended on the movement of the Jap crosses (since 3 Jap crosses vs another 2 crosses). Chances are if the Jap crosses move in our favoured direction, we'll have a fantastic week. It might be a good idea to implement a filter (not lagging indicators of course!) to make sure the Jap crosses are in strong trend. Anyway, just a random thought.
  • #167
  • Sep 10, 2008 9:57am Sep 10, 2008 9:57am
Eur short just opened up before 11 am.
Life is too short to have anything but delusional notions about yourself.
  • #168
  • Sep 10, 2008 9:59am Sep 10, 2008 9:59am
Quoting hoss
The market hit the sell order on GJ, and it just turned around and bee-lined for the SL. Too funny sometimes.
yes it' movements like that that will drive you crazy if you're watching live. just makes me love forex at times.


Hoss yea I got the EU open also. Hopefully it'll keep heading south.
  • #169
  • Sep 10, 2008 10:06am Sep 10, 2008 10:06am
Quoting blueace
yes it' movements like that that will drive you crazy if you're watching live. just makes me love forex at times.


Hoss yea I got the EU open also. Hopefully it'll keep heading south.
Yeah, I'm pretty unemotional about it. It's what allows me to laugh. I know that losses are the only way to get to the winners.
Life is too short to have anything but delusional notions about yourself.
  • #170
  • Sep 10, 2008 10:14am Sep 10, 2008 10:14am
Quoting hoss
Yeah, I'm pretty unemotional about it. It's what allows me to laugh. I know that losses are the only way to get to the winners.
Great perspective and well said. I've found that it can only remain funny if I stay disciplined and keep my position sizes in check. The funniness seems to evaporate if you've bet the farm on a particular trade and it goes bad. I don't need that stress and in my early days I made sure I revisited that lesson several times. Seems that learning the hard way, I mean really hard, was the only way to gain the objectivity I needed.

That being said GO EU GO!
  • #171
  • Sep 10, 2008 10:48am Sep 10, 2008 10:48am
Quoting blueace
Great perspective and well said. I've found that it can only remain funny if I stay disciplined and keep my position sizes in check. The funniness seems to evaporate if you've bet the farm on a particular trade and it goes bad. I don't need that stress and in my early days I made sure I revisited that lesson several times. Seems that learning the hard way, I mean really hard, was the only way to gain the objectivity I needed.

That being said GO EU GO!
True. Discipline will also be watching the trade try and break 1.4000 to get to our TP!
Life is too short to have anything but delusional notions about yourself.
  • #172
  • Sep 10, 2008 10:53am Sep 10, 2008 10:53am
blueace,

will you move your stop to BE once this has hit the half way point? or do you let this thing ride out?
Life is too short to have anything but delusional notions about yourself.
  • #173
  • Sep 10, 2008 11:03am Sep 10, 2008 11:03am
Quoting hoss
blueace,

will you move your stop to BE once this has hit the half way point? or do you let this thing ride out?
Since London just closed and if it makes it to the halfway point. 1.4012 area then yes I will put the stop at break even.
  • #174
  • Sep 10, 2008 11:18am Sep 10, 2008 11:18am
1.4012 was hit around 11:30. Does that mean you would put it in now or wait until it hits it again?
Life is too short to have anything but delusional notions about yourself.
  • #175
  • Sep 10, 2008 11:38am Sep 10, 2008 11:38am
Are you on Oanda, Hoss? My Oanda platform is showing a low of 1.40124.

Scott


Quoting hoss
1.4012 was hit around 11:30. Does that mean you would put it in now or wait until it hits it again?
Prices are never too high to begin buying or too low to begin selling.
  • #176
  • Sep 10, 2008 11:42am Sep 10, 2008 11:42am
Yes, but I don't use the pipettes or whatever they are called so my oanda platform shows 1.4012.
Life is too short to have anything but delusional notions about yourself.
  • #177
  • Sep 10, 2008 11:58am Sep 10, 2008 11:58am
@BlueAce

Thanks for this wonderful set and forget. I work for 10 hrs and had knew I must get something like this to make any meaningful positive outcome from Forex.

I just wish to ask about the time period that the trade signals may still be taken if the 00:00 EST timing is missed? Up to 2 or 3 or ? hours after Oanda start of day?
  • #178
  • Sep 10, 2008 12:24pm Sep 10, 2008 12:24pm
Quoting fosters
@BlueAce

Thanks for this wonderful set and forget. I work for 10 hrs and had knew I must get something like this to make any meaningful positive outcome from Forex.

I just wish to ask about the time period that the trade signals may still be taken if the 00:00 EST timing is missed? Up to 2 or 3 or ? hours after Oanda start of day?
fosters thanks for joining the thread; I'm here to help.

The trade signals are open until the entries are met. Sometimes the signals are open for 9 hours before an order is met others can happen within 15 minutes (happened last week, but is very rare) of the signal generation. But all of the orders are canceled at 11:00 EST
  • #179
  • Sep 10, 2008 12:28pm Sep 10, 2008 12:28pm
The loss on the GJ was a great example of why I prefer percentages over counting pips. The pip loss was -114.6 but my percentage loss was still 1%. Granted having such a large SL makes my individual pip value that much smaller, but my overall risk remains the same.
  • #180
  • Sep 10, 2008 12:36pm Sep 10, 2008 12:36pm
blueace, i assume you are still in the eur trade?
Life is too short to have anything but delusional notions about yourself.
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