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"ElePhAnTastic" Strategy

  • #1
  • First Post: Oct 30, 2011 4:44pm Oct 30, 2011 4:44pm
"ElePhAnTastic" Strategy

Here we go folks

This easy strategy based on two indicators: RSX and Pivots. I love both very much. Actually i am not a developer of this one, i just had realize: This system perfect fits my style of trading.

This strategy is based on Phanti`s thread Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound. Phanti is a real good trader in my opinion and i learned a lot from him...Keep it up Bro

Id like his origin idea very much, before he switched to trading with supply and demand areas. S/D areas are very powerful in forex and trading with that ones could be very successful, but i wanna make something different.

So i am gonna trade in m15 Timeframe . I am not a patient one, so trading in higher timeframes is a lil bit torture for me I now the pros would say now: "If you don't have any patience u wont earn any cash in this business in the long run..." But seriously, i cant wait for 4 or 24 hours to candle close...

There so many strategies in FF looks like this one, so we need really another thread like this? I think no, but i had a desire to start this thread ...I just wanna to know in which way it will develop. Maybe i can be very successful with that one and reach my personal target: Make trading for a living or i will completely fail and burn my account in a few days, who know.

So lets go to the facts, we need two constellations:

1) RSX in oversold/overbought area
2) Pair bounced of the Pivot

  1. Wait for candle close
  2. R:R ratio of 1:2
  3. Please follow your moneymanagement
  4. Don`t trade on News-Events
  5. Please set a stoploss



Charts will follow in next days, also live trades. Please notice: I am not an advanced trader and i have a regular job...

Its getting late here, i will continue later.

"...There's many ways to make money in this business & we all have our preferred methods. If what you do works for you, great! Keep doing it but also keep learning."


Kind Regards

Bullzeye

  • #2
  • Oct 30, 2011 5:37pm Oct 30, 2011 5:37pm
It seems this strategy is not a bad idea........
  • #3
  • Oct 30, 2011 5:57pm Oct 30, 2011 5:57pm
im a big fan of using pivot points with ANY system.

Looking forward to what you are about to share!
  • #4
  • Oct 31, 2011 2:38am Oct 31, 2011 2:38am
Good Morning Guys!

Here comes the indicators and template:

  1. RSX: Len 14, Overbought Area > 80/ Oversold Area < 20
  2. Pivots: Using Daily, Weekly and Monthly Pivots



Thats it, very easy. I like the simplicity of it, almost a naked chart. Don't get overload your charts with thousands indis, so its look like a f*cking impressionistic paint

Charts will follow...

bye

bullzeye

Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 1,005 downloads
File Type: mq4 rsx.mq4   4 KB | 1,000 downloads
File Type: tpl # phanti.tpl   107 KB | 844 downloads
  • #5
  • Oct 31, 2011 3:20am Oct 31, 2011 3:20am
Small example from today:
GBP/USD pair bounced nicely from Weekly S1 with a hammer, RSX is oversold. Both conditions are true, you entered a trade after the hammer. Set your SL 20 Pips, your TP is 40 Pips, i set also a trailingstop on 20 Pips in this strategy

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 101 KB
  • #6
  • Oct 31, 2011 3:56am Oct 31, 2011 3:56am
Keep it going..follow through this post..
  • #7
  • Oct 31, 2011 4:21am Oct 31, 2011 4:21am
Hi Bullzeye,

Seems logical but for the pivots, which one should we use ? Weekly, daily, S1, ... ? Closest one ?

Lh
#### Follow me at @LioH_ on Twitter ... ####
  • #8
  • Oct 31, 2011 4:38am Oct 31, 2011 4:38am
Quoting lhDT
Hi Bullzeye,

Seems logical but for the pivots, which one should we use ? Weekly, daily, S1, ... ? Closest one ?

Lh
Hi lhDT,

Thanks for your reply. You use the closest one, right. Sometimes pivots drawn together like daily pivot and weekly S1, this are very good opportunities for a reversal in my opinion

cheers

bullzeye
  • #9
  • Oct 31, 2011 10:08am Oct 31, 2011 10:08am
EUR/GBP in this area we should look for a possible reversal. RSX almost oversold, Weekly R1 and a small support right there...lets see

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 100 KB
  • #10
  • Oct 31, 2011 12:10pm Oct 31, 2011 12:10pm
Quoting bullzeye
EUR/GBP in this area we should look for a possible reversal. RSX almost oversold, Weekly R1 and a small support right there...lets see

Attachment
EUR/GBP falls like a rock trough this area, thats why you have to wait for reverse signs and confirmations:nerd:
  • #11
  • Oct 31, 2011 3:51pm Oct 31, 2011 3:51pm
EUR/USD buy target 40 Pips, SL 20 Pips, TS 20 Pips

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
  • #12
  • Oct 31, 2011 3:58pm Oct 31, 2011 3:58pm
Hi Bullzeye
I have some questions about pivots, because different indi's gave me different values.

As you can see in fig 001, using Pivot Points multitime frame we could have got our 40 pips starting from 7.15 a.m. (C.E.T. & Broker Alpari Uk time). Incidentally RSX was more than 20, but there was a beautiful divergency.

If I use Autopivots V5 not using Sunday data (fig 002) only now (9.15 P.M) there is a pivot bounce at daily DM2 (But RSX at about 24....)

In fig 003, Autopivots V5 "using" sunday data, draws pivots at totally differents values....

So, what kind of pivots must I use per your rules?

Thanks!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: rsx 001.jpg Size: 128 KB
Click to Enlarge Name: rsx 002.jpg Size: 103 KB
Click to Enlarge Name: rsx 003.jpg Size: 118 KB
  • #13
  • Oct 31, 2011 4:13pm Oct 31, 2011 4:13pm
Quoting Aztrader2
Hi Bullzeye
I have some questions about pivots, because different indi's gave me different values.

As you can see in fig 001, using Pivot Points multitime frame we could have got our 40 pips starting from 7.15 a.m. (C.E.T. & Broker Alpari Uk time). Incidentally RSX was more than 20, but there was a beautiful divergency.

If I use Autopivots V5 not using Sunday data (fig 002) only now (9.15 P.M) there is a pivot bounce at daily DM2 (But RSX at about 24....)

In fig 003, Autopivots V5 "using" sunday data, draws pivots at totally differents...
Aztrader2, thanks for your reply. Good call about the divergences

Well, i think that is what we gonna figure out in time We should try different settings to find best results.

I prefer not to use the Sunday data...

cheers
  • #14
  • Oct 31, 2011 4:58pm Oct 31, 2011 4:58pm
Quoting bullzeye
Aztrader2, thanks for your reply. Good call about the divergences

Well, i think that is what we gonna figure out in time We should try different settings to find best results.

I prefer not to use the Sunday data...

cheers

Thanks for your answer Bullz... So, I saw we have the same broker! And I will use Autopivot V5 (no sunday data). But, and this is incredible.... In EurUsd chart you posted before, the rsx went below 20 and in mine NOT!?!?!
I used the standard RSX set to 14 period in my metatrader. It's a different one the RSX you uploaded before?

And, what about 5 min TF? Do you use it?

Thanks again
  • #15
  • Oct 31, 2011 5:16pm Oct 31, 2011 5:16pm
Quoting Aztrader2
Thanks for your answer Bullz... So, I saw we have the same broker! And I will use Autopivot V5 (no sunday data). But, and this is incredible.... In EurUsd chart you posted before, the rsx went below 20 and in mine NOT!?!?!
I used the standard RSX set to 14 period in my metatrader. It's a different one the RSX you uploaded before?

And, what about 5 min TF? Do you use it?

Thanks again
Well, i don`t know about the RSX, i use the default settings, also Len 14. Maybe you should try to restart your mt4...or maybe i should

5 min TF? Actually i don`t like this timeframe, but its just my personal view. If you are confident with that, why not...try everything whats work good for you

btw, there is another version of RSX, but i get every time mistakes with that sucker...maybe you can use it
Attached File(s)
File Type: mq4 MA_of_RSX_2.mq4   4 KB | 392 downloads
  • #16
  • Oct 31, 2011 5:39pm Oct 31, 2011 5:39pm
Quoting bullzeye
Well, i don`t know about the RSX, i use the default settings, also Len 14. Maybe you should try to restart your mt4...or maybe i should
I tried to restart but I had the same value.....
I guess if these are different kinds of account? Maybe, there are some slight differences between the accounts Alpari Uk offers (we must not forget they are Market Makers.... and price is not always the same) e.g. demo, live micro, live classic etc.... Mine is a live microaccount...
  • #17
  • Oct 31, 2011 5:42pm Oct 31, 2011 5:42pm
Quoting Aztrader2
I tried to restart but I had the same value.....
I guess if these are different kinds of account? Maybe, there are some slight differences between the accounts Alpari Uk offers (we must not forget they are Market Makers.... and price is not always the same) e.g. demo, live micro, live classic etc.... Mine is a live microaccount...
same here, live microaccount
  • #18
  • Nov 1, 2011 1:40am Nov 1, 2011 1:40am
Your sys is similar to mine and it's promising. I have been working on a same sys for almost 2 years.

R/s1 is only for range trading, that's true!

You can trade trend after the S1 or R1 breaks the price will go to S/R3 at maximum. Sometimes it will breach S/R3, but 90% of the time it will return to lvl3 very soon.

That's my little suggestion.
No one wants to be defeated~
  • #19
  • Nov 1, 2011 2:41am Nov 1, 2011 2:41am
Quoting jonirrenicus
Your sys is similar to mine and it's promising. I have been working on a same sys for almost 2 years.

R/s1 is only for range trading, that's true!

You can trade trend after the S1 or R1 breaks the price will go to S/R3 at maximum. Sometimes it will breach S/R3, but 90% of the time it will return to lvl3 very soon.

That's my little suggestion.
Hi jonirrenicus , good to have you here with us

thats sounds great to me. That mean the system is probably working in the long run? Maybe you can share your experiences over the past two years...

Can you show us your charts, so we can work together on it

What kind of indis do you use?

I am looking forward to hear more from you...

bullzeye
  • #20
  • Nov 1, 2011 2:42am Nov 1, 2011 2:42am
Quoting bullzeye
EUR/USD buy target 40 Pips, SL 20 Pips, TS 20 Pips

Attachment
this was a looser -20 Pips
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