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Pivot point trading?

  • #1
  • First Post: Feb 16, 2006 3:40pm Feb 16, 2006 3:40pm
Anyone care to do a pivot point 101 class? I am not looking for a indepth article. Just a brief overview of how you use them? Do you use R1, R2 or R3? Do you use S1, S2 or S3? And how do you use them.

I am not looking for a book just some brief comments about how you use them. Once I get a general idea I can develope my own style around it.


Thanks.
69.3% of all statistics are made up on the spot.
  • #2
  • Feb 16, 2006 5:14pm Feb 16, 2006 5:14pm
hmm ok... to make the story short, the three most important pivot points are R1, S1 and the actual pivot point.
The general idea behind trading pivot points is to look for a reversal or break of R1 or S1. By the time the market reaches R2,R3 or S2,S3 the market might already be overbought or oversold and these levels can be used for exits.
http://us.i1.yimg.com/us.yimg.com/i/...ticons7/58.gif
  • #3
  • Feb 16, 2006 5:57pm Feb 16, 2006 5:57pm
Thank you Liquid4x, that was exactly what I was looking for. Just so I get this straight in my own mind. Today the EUR/USD looked like it turned very near the S1. So would you look for an exit near R1 or would you look for an exit near the pivot point as it has been hovering there for a couple hours?


FWIW, I am fairly new to trading and am trading a demo at the moment and will be for a while the way my trading is going. I am just trying to get a system down that works reletively consistent.
69.3% of all statistics are made up on the spot.
  • #4
  • Feb 16, 2006 6:09pm Feb 16, 2006 6:09pm
Based on current market conditions PP would be 1st target & S1 your 2nd target.
If it reaches PP and lacks momentum then exiting at PP might be a good idea.
  • #5
  • Feb 16, 2006 6:15pm Feb 16, 2006 6:15pm
Thank you liquid4x.
69.3% of all statistics are made up on the spot.
  • #6
  • Feb 17, 2006 7:14am Feb 17, 2006 7:14am
My software calculates pivots at 12am London Time, which is 7pm EST in america where I live. At that time I wait for the price to hit S1 or R1 and go long and short, respectively at those points. I go for 10pips on my limit and stop and that give me a high degree of accuracy. You have to have a direct broker though because a 3 pip spread could keep you from profiting. I would recommend COESfx possibly.
Chance favors the prepared mind.
  • #7
  • Feb 17, 2006 8:03am Feb 17, 2006 8:03am
Quoting pip_hunter
I personally use a Camarillo and Pivot caclulator. I find it a little more accurate than the standard Pivot calculator that I have used in the past.
I use the high, low and closing prices over the last 72 hours based on the European opening.
It seems to work for me.
Pip hunter. Camarillo is a new term for me. Could you point me in a direction where I could find some more information about Camirillo? I did a google search and wasn't sure what to search for and came up with a town in California. I will keep searching and maybe I will find it before you reply... or maybe not.

Thanks for the suggestion.
69.3% of all statistics are made up on the spot.
  • #8
  • Feb 17, 2006 8:06am Feb 17, 2006 8:06am
Quoting iceman777
My software calculates pivots at 12am London Time, which is 7pm EST in america where I live. At that time I wait for the price to hit S1 or R1 and go long and short, respectively at those points. I go for 10pips on my limit and stop and that give me a high degree of accuracy. You have to have a direct broker though because a 3 pip spread could keep you from profiting. I would recommend COESfx possibly.
The trading desk that I use from ACM recalculates PP's at about 15:00 MST. I have tried a 10 pip stop (trailing) but it seems that when the markets go a erratic in the morning it stops me out consistently with a loss. If I use a little larger trailing stop I can ride out the bumpy weather in the morning and seem to do a little better.


Thanks though. As I said before, I am still demoing so I can try all these systems to find the one that works for me.
69.3% of all statistics are made up on the spot.
  • #9
  • Feb 17, 2006 6:45pm Feb 17, 2006 6:45pm
Quoting lomfs24
Pip hunter. Camarillo is a new term for me. Could you point me in a direction where I could find some more information about Camirillo? I did a google search and wasn't sure what to search for and came up with a town in California. I will keep searching and maybe I will find it before you reply... or maybe not.

Thanks for the suggestion.
Hello lomfs,
this is Roger from Germany.
I have a word document for you with all information,about camarilla points.
Itīs very useful to know this facts.

Have a nice reading, and sorry for my bad english. If you cannot open word, I can send you also a Pdf file.

Roger chateauboy [quote]
Attached File(s)
File Type: doc cam.doc   74 KB | 1,735 downloads
  • #10
  • Feb 17, 2006 9:08pm Feb 17, 2006 9:08pm
[quote=Chateauboy]Hello lomfs,
this is Roger from Germany.
I have a word document for you with all information,about camarilla points.
Itīs very useful to know this facts.

Have a nice reading, and sorry for my bad english. If you cannot open word, I can send you also a Pdf file.

Roger chateauboy
Roger, thank you so much. I don't have time to read it right now but I will certainly read it tomorrow. And don't worry about the english. It's OK if you type english slow, cause I read slow. I can open word so that's not a problem either. Thanks again so much.


Thanks to everyone. You guys have all been a lot of help. I have more info than I can deal with in the next couple days. But I'll get through it all.
69.3% of all statistics are made up on the spot.
  • #11
  • Feb 18, 2006 12:35pm Feb 18, 2006 12:35pm
Well, thanks to everyone's help here. I think I got what I needed. I got some formulas and built a spreadsheet. Take a look at it and see what you think. I protected it so I wouldn't mess up any fields. I put a couple different formulas on there. If you want to change anything on it the password is forex. That will allow you to unprotect the fields to change formulas etc...


Let me know.
Attached File(s)
File Type: zip ppsheet.zip   4 KB | 1,109 downloads
69.3% of all statistics are made up on the spot.
  • #12
  • Edited 4:31pm Dec 4, 2010 2:45pm | Edited 4:31pm
I know this is an old thread, but as a new member I can not open a new thread, and all my trading is based on pivots.

I use mt4 for charting but not trading.

All I have on my charts is daily pivots, weekly pivots, and round numbers. The pivots are areas I trade from, and the round numbers are areas I look at for exits, or as trouble areas.

I always look at the daily charts.

Trades are based on the 4hr tf, occasionally I drop to the 1hr to look for an entry.

Twenty pips is just about always my first target, with one or two more positions let running for a while.

Here are the three trades I took on Friday. Although the trades shown here (on mt4) are still open, on my live acc they are all closed, in profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ea.gif Size: 28 KB
Click to Enlarge Name: echf.gif Size: 32 KB
Click to Enlarge Name: uj.gif Size: 32 KB
Keep it simple, and be sensible.
  • #13
  • Dec 6, 2010 11:52am Dec 6, 2010 11:52am
Monday trades:

2 more successful trades.

All uj trades closed at 20 pips profit.

Eg trades: two closed at 20 pips profit each, another still running with stop at break even.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eg.gif Size: 35 KB
Click to Enlarge Name: uj.gif Size: 31 KB
Keep it simple, and be sensible.
  • #14
  • Dec 7, 2010 4:01am Dec 7, 2010 4:01am
Tuesday trades:

ej loss, eu win, ucad win.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej.gif Size: 28 KB
Click to Enlarge Name: eu.gif Size: 33 KB
Click to Enlarge Name: ucad.gif Size: 38 KB
Keep it simple, and be sensible.
  • #15
  • Dec 7, 2010 9:03pm Dec 7, 2010 9:03pm
Wednesday trades so far. Will look at 7pm candle for more trades.

EJ almost back to entry price, caused a bit of concern, nearly hit the stop.

EU first target reached, second and third trades still open, same for AU.

I dont usually trade this early in the Asian session. EU and EJ trades were opened just after Asian session started, but I was on the computer and the set ups looked OK, although as I said EJ was a bit of a worry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au.gif Size: 35 KB
Click to Enlarge Name: ej.gif Size: 34 KB
Click to Enlarge Name: eu.gif Size: 34 KB
Keep it simple, and be sensible.
  • #16
  • Dec 7, 2010 9:45pm Dec 7, 2010 9:45pm
I have not talked much about the entries, I think most of them a obvious. The ej trade above looks a bit suspect because the trade was into both daily and weekly pivots, and indeed was a bit ( not a lot ) of a worry, but I thought there was a enough room to make 20 pips. Trade still open at minus 5 pips.
Keep it simple, and be sensible.
  • #17
  • Dec 8, 2010 12:09pm Dec 8, 2010 12:09pm
I will not be posting in this thread any more. I have started my own thread in the journal section, called "G F S Journal".
Keep it simple, and be sensible.
  • #18
  • Dec 17, 2010 1:02pm Dec 17, 2010 1:02pm
Just found out how to post connections, so here is the connection to my journal thread. http://www.forexfactory.com/showthread.php?t=269181
Keep it simple, and be sensible.
  • #19
  • Last Post: Oct 2, 2014 8:22am Oct 2, 2014 8:22am
Am new here please what is the meaning of R1, S1 and so, when talking about pivot point?
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