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the Set and Forget Pivot Net system

  • #241
  • Sep 13, 2008 10:01pm Sep 13, 2008 10:01pm
Quoting blueace
From checking my records it looks like we have a different number for Friday. I have 371.5 and you have 378.4.

I can't double check until later today because Oanda is down for maintenance, but once they're up and running again I'll post what I found. I'll have it up by sometime tonight.

Thanks Fosters.
Fosters I double checked my Friday's EJ movement and it was definitely 371.5 and that's why our last weeks EJ average is off.
  • #242
  • Sep 13, 2008 10:29pm Sep 13, 2008 10:29pm
Oanda is back up and running!
  • #243
  • Sep 13, 2008 10:35pm Sep 13, 2008 10:35pm
Quoting Bobcat2
Oanda is back up and running!
Roger that Bobcat.

Thanks

FYI
I have an additional way to trade the Pivot Net added to the first page of the thread. For simplicity sake and for those of you that are already familiar with they whole system I'll post the addendum here.

I have no idea why I did not add this part to the Pivot Net a long time ago.

It's very simple and keeps the RR 1:1.5 almost perfectly. The system is slower but it is just another way to continually add money to your account. I do not have any live results to present as of yet, but I will soon.

Here it is...

Add the Pivot Net to a weekly timeframe.

That's it. The 5 pairs that I use on the Pivot Net tend to trend quite a bit and this would just take advantage once again of them moving from S1 to S2 and R1 to R2. Set this up at the beginning of the week and let it run in the background. If at any time it makes it to the halfway point and it is still below or above S1 or R1 then move to BE.

This most recent week would have produced 1 loss, 1 BE and 3 no hits. But you can visually test this system pretty well.
  • #244
  • Sep 14, 2008 2:36am Sep 14, 2008 2:36am
Would someone be kind enough to make the ST PPs indicator for a weekly timeframe? I really like how you can quickly visually backtest with the ST PPs.

Thanks ahead of time.
  • #245
  • Sep 14, 2008 8:32am Sep 14, 2008 8:32am
Do you have a similar filter for the weekly pivot net as you do for the daily pivot net that the preceding weekly range must be less than the average range for the past 4 or 5 weeks before putting on the trade?
  • #246
  • Sep 14, 2008 2:42pm Sep 14, 2008 2:42pm
Quoting blueace
Would someone be kind enough to make the ST PPs indicator for a weekly timeframe? I really like how you can quickly visually backtest with the ST PPs.

Thanks ahead of time.
Hi Blueace,

It already has the capability. When the indicator is loaded, just change the external variable PivotSet to 2 (which is the weekly pivot, 3 is monthly) and make sure your chart is no greater than the Daily TF (Weekly, for the monthly pivot).

Glen
Attached File(s)
File Type: mq4 ST-Pivot Points.mq4   10 KB | 470 downloads
  • #247
  • Sep 14, 2008 4:52pm Sep 14, 2008 4:52pm
Quoting gnllr
Hi Blueace,

It already has the capability. When the indicator is loaded, just change the external variable PivotSet to 2 (which is the weekly pivot, 3 is monthly) and make sure your chart is no greater than the Daily TF (Weekly, for the monthly pivot).

Glen
Thank you Glen that is very helpful. I wasn't aware of the settings on the ST PPs.
  • #248
  • Sep 14, 2008 4:57pm Sep 14, 2008 4:57pm
Quoting chuckeepw
Do you have a similar filter for the weekly pivot net as you do for the daily pivot net that the preceding weekly range must be less than the average range for the past 4 or 5 weeks before putting on the trade?
Until enough backtesting is done on using the Pivot Net on a weekly timeframe a great filter to add is: If the previous week pair did not make it to S1 or R1 then it would be a green light. If it touched either S1 or R1 then do not set up the trades for the week. That used to be a filter for the regular PP but it negated too many trades. It still left the system working in the positive but made trades fewer and farther inbetween.

As you can see several trades for this week have already been missed due to the Lehman rumors from this weekend.
  • #249
  • Edited 12:04am Sep 15, 2008 12:01am | Edited 12:04am
Quoting blueace
Fosters I double checked my Friday's EJ movement and it was definitely 371.5 and that's why our last weeks EJ average is off.
Then could it be true as someone once said, that maybe Oanda gives different data to different clinets?? Please check attached for my Oanda platform (note the 3 arrows for the values). I definitely did not invent anything and still got a different value!!
Attached Image (click to enlarge)
Click to Enlarge Name: EJ-check.jpg Size: 135 KB
  • #250
  • Edited 12:24am Sep 15, 2008 12:12am | Edited 12:24am
Quoting fosters
Then could it be true as someone once said, that maybe Oanda gives different data to different clinets?? Please check attached for my Oanda platform (note the 3 arrows for the values). I definitely did not invent anything and still got a different value!!
Fosters it looks like we're getting different data. Someone has some explaining to do and it is not us.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Oanda cheat.png Size: 34 KB
  • #251
  • Sep 15, 2008 9:03am Sep 15, 2008 9:03am
Quoting blueace
Fosters it looks like we're getting different data. Someone has some explaining to do and it is not us.
That's a little discouraging. It makes no sense that we would get different quotes off of the same platform. But, at the end of the day, they are a bucketshop. So, who knows what they are up to.
Life is too short to have anything but delusional notions about yourself.
  • #252
  • Sep 15, 2008 10:10am Sep 15, 2008 10:10am
Quoting hoss
That's a little discouraging. It makes no sense that we would get different quotes off of the same platform. But, at the end of the day, they are a bucketshop. So, who knows what they are up to.
It has a 'pricing engine' that 'filters' the quotes from various liquidity providers and 'adjusts' the price activity specifically according to each customer trading pattern.
  • #253
  • Sep 15, 2008 10:22am Sep 15, 2008 10:22am
Quoting jlryan87
It has a 'pricing engine' that 'filters' the quotes from various liquidity providers and 'adjusts' the price activity specifically according to each customer trading pattern.
That's disheartening. Anyone recommend a forex broker that does not have that type of behavior? Or is there such a thing? Is there such a thing as a broker in forex that is not a bucket shop?
  • #254
  • Sep 15, 2008 10:41am Sep 15, 2008 10:41am
Apparently, ECN's like Dukascopy, HotSpot and MBTrading are not bucket shops.
Life is too short to have anything but delusional notions about yourself.
  • #255
  • Sep 15, 2008 10:46am Sep 15, 2008 10:46am
Quoting hoss
Apparently, ECN's like Dukascopy, HotSpot and MBTrading are not bucket shops.
Dukascopy has a good rep. I might look into them. I have an MBTrading acct but their platform is a nightmare especially for 'set and forget' strategies.

Thanks Hoss
  • #256
  • Sep 15, 2008 10:48am Sep 15, 2008 10:48am
Quoting blueace
That's disheartening. Anyone recommend a forex broker that does not have that type of behavior? Or is there such a thing? Is there such a thing as a broker in forex that is not a bucket shop?
You can try ECN if you are well capitalized. But even then the broker can still play its trick, one in particular is ODL with its Currenex platform. Some time ago, a client reported a huge slippage which seemed ridiculous for any ECN. Shortly after that ODL was fined by NFA.
  • #257
  • Sep 15, 2008 10:50am Sep 15, 2008 10:50am
Quoting blueace
Dukascopy has a good rep. I might look into them. I have an MBTrading acct but their platform is a nightmare especially for 'set and forget' strategies.

Thanks Hoss
Why is MBT's platform a nightmare? It has quite some comprehensive orders you can make compared to other brokers.
  • #258
  • Edited 11:19am Sep 15, 2008 11:08am | Edited 11:19am
Quoting jlryan87
Why is MBT's platform a nightmare? It has quite some comprehensive orders you can make compared to other brokers.
I'll agree it does have great flexibility for the types of orders one can place, but the learning curve to entering an order there is pretty steep. I was less than impressed with their platform. But to each their own.

Sorry for hijacking my own thread with broker review. Oanda just had some serious problems this morning and I was a bit frustrated.

Back to the Pivot Net.

If we had set up a Weekly Pivot Net, for this week, for the 3 pairs that did not touch their S1 and R1 last week we would have 1 Win 1 Loss and 1 trade still opened.

GU Loss
UJ Win
GJ Open

I will continue to backtest this addition to the system and post my results.
  • #259
  • Sep 15, 2008 2:30pm Sep 15, 2008 2:30pm
With about 8 hours to go, it looks like GJ is the only eligible trade for tonight.

Scott
Prices are never too high to begin buying or too low to begin selling.
  • #260
  • Sep 15, 2008 8:47pm Sep 15, 2008 8:47pm
Scratch that. GJ is also not eligible for a trade tonight either. Better luck tomorrow.

Scott

Quoting thehenryfam
With about 8 hours to go, it looks like GJ is the only eligible trade for tonight.

Scott
Prices are never too high to begin buying or too low to begin selling.
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