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Daily Pivot Point Trades

  • #121
  • Dec 17, 2011 5:21am Dec 17, 2011 5:21am
yep! we need more tests to confirm.so far using foward testing on demo,it works great.the most important lesson ive learnt one which will greatly impact my trading from henceforth is to put tp or look for reversal at r1 region.thanks @all
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #122
  • Dec 17, 2011 6:25am Dec 17, 2011 6:25am
Quoting Caillou
Yesterday I was out all day so impossible for me to trade.

Anyway I´m going to test Tranco and IhDT´s EAs (thank you Tranco and IhDT for that) but usually people don´t like EAs because they tell you the truth, and sometimes it hurts.

I don´t know yet if those EAs are coded following exactly BongaBonga rules but if this is the case, and if the backtests are negative, I will move.

Thanks again to BongaBonga for your system.
Hehe^^

Well ... as far as I know ... there is only one existent auto-system based on this kind of approach ... which is sufficient and effective. And this system did cost many many many millions to develop it to such a kind of a stage that some independent and reliable audit reports came to the conclusion to say ... well it is "quite" competitive ... and well it is a winnig system ...

A larger well known team of really highly paid math experts and a corporation of computer science has been working on that for more than 15 years ...

Moreover they knew the basics of pivot rules ... because they have learned it from the bottom up! And they have been working with it with great success(!) as institutional traders during those aeons when there has not been that lousy INTERNET with all those nonsense from all those amateurs ...

But of course ... you cannot buy it. Even not then when you would be able and willing to pay 50'000 or 100'000 for it ...

Think about it for a while ...






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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #123
  • Dec 17, 2011 6:53am Dec 17, 2011 6:53am
Quoting mercy seat
Hehe^^

Well ... as far as I know ... there is only one existent auto-system based on this kind of approach ... which is sufficient and effective. And this system did cost many many many millions to develop it to such a kind of a stage that some independent and reliable audit reports came to the conclusion to say ... well it is "quite" competitive ... and well it is a winnig system ...

A larger well known team of really highly paid math experts and a corporation of computer science has been working on that for more than 15 years ...

Moreover...
U mean, a system to predict the future, a kind of "Da Vinci style" EA ?
Wow, would love to have that ...
#### Follow me at @LioH_ on Twitter ... ####
  • #124
  • Dec 17, 2011 8:19am Dec 17, 2011 8:19am
I will contribute to this thread from now because I also rely a great deal on pivots.
  • #125
  • Dec 17, 2011 10:13am Dec 17, 2011 10:13am
Here is an indicator that will show historical pivots. For those who like to visually backtest this system. Just change the "count periods" to whatever days back you wish.
Attached File(s)
File Type: mq4 AllPivots_v2.mq4   5 KB | 739 downloads
  • #126
  • Dec 17, 2011 1:09pm Dec 17, 2011 1:09pm
Guy's Ea's don't work becuase trading is a human event or game and computers think in logical imputs not in human behavior. Guess what price action is based on human behavior and what we think as traders what the price of a given pair or pairs are worth a computer can't think like us or adjust it's bais do to new like we can it doesn't know how to react to that unknow factor that just changed market conditions greatly. Secondly no system is worth a dime unless your using proper risk reward raito and money management . heres a basic system that works really well if you risk 2-3% of account on each trade it is called Turtle Soup it is actually the reverse of the Turtle trading system and accounts for the markets being Range bound the majority of the time old addage is markets only trend 30% of time and range or consolidate 70%of time so what Linda Bradford Radske which is one of the best traders in modern era has done is put the 20 or 50 period donchain channals up and if the pair made a new high she would wait for a confirming reversal candle such as bearish engulfing or hanging man or evening star and enter market order to enter short and she would target the opposite channal for exit The risk to rewards on these trades are great and there taken on the end of day charts your stops are placed at the top or bottom of the candle that made you go long or short so stops are near the market and your aiming for the daily 20 or 50 period high or low depended upon how conservative you are. you can read about Linda in the MArket Wizards and also in New Market Wizards she also has some nice webinars on www.moneyshow .com
  • #127
  • Dec 17, 2011 1:13pm Dec 17, 2011 1:13pm
Just to let you know I do use a pivot system as I have been a professional trader for 5 years going on 6 years and have worked for a FX Broker but mine uses more of the Peter Bain Method as he uses in his Big Dogs course but mine isn't exactly like his either I do use his buy sell zome throies such as R2 being a sell zone and s2 being a buy zone and that's why you see price retrace off those areas becuase R2 and S2 are overbought and oversold areas and you get bounces off those pivot areas.
  • #128
  • Dec 17, 2011 2:23pm Dec 17, 2011 2:23pm
Quoting imnotapro
"Guy's Ea's don't work becuase trading is a human event or game and computers think in logical imputs not in human behavior." ... "Just to let you know I do use a pivot system as I have been a professional trader for 5 years going on 6 years"
EA's don't work yet you use one (Pivot Points and R2/S2). Which is it? You can't say in one post you don't believe in them and in the next say you trade based on a trading strategy (Pivot Points).
I observe your reality but live my own.
  • #129
  • Dec 17, 2011 2:51pm Dec 17, 2011 2:51pm
Quoting imnotapro
Just to let you know I do use a pivot system as I have been a professional trader for 5 years going on 6 years and have worked for a FX Broker but mine uses more of the Peter Bain Method as he uses in his Big Dogs course but mine isn't exactly like his either I do use his buy sell zome throies such as R2 being a sell zone and s2 being a buy zone and that's why you see price retrace off those areas becuase R2 and S2 are overbought and oversold areas and you get bounces off those pivot areas.
Peter Bain Method is a bit old no ? Already see a conference video from him.
I heard a lot of things about him. Personally, I think he teach the basics (divergence, ...).
Would love to get an updated 2011 course instead.
#### Follow me at @LioH_ on Twitter ... ####
  • #130
  • Dec 18, 2011 9:03am Dec 18, 2011 9:03am
Quoting dove_alliance
For those who do not know how calculate Pivots - here a link for a calculator in helping you getting the daily pivots.

http://www.earnforex.com/pivot-points-calculator

One thing I do want to stress is in using the Mid-Level pivots. The Mid-Level pivots are more generated then the R's and S levels - especially with the E/U. The E/U uses the M3 and M1 more so then any other resistance/support of the daily pivot for taking profit and also for reversals.

Once you have your R/S levels it is then easy to put the M levels in your pivot...
Quite useful as well is this one ...

#31

But you can avoid a lot of that stress by using this one ...

http://www.pivotpointcalculator.com/

Then you will get your beloved midpoints as well ...

For all of you guys ... who are seriously concerned with this beautiful and mighty tool for a good determination of trading opportunities ... I want to mention that there is no need to have all those levels of reaction and possible turning points on your screens neither in any EAs nor whatever ...

A good trader will keep it simple ... and will have them levels simply kept in mind ...

But it needs a lot of practice until you are able to develop a winning strategy based on such wonderful pivots ...

Pivots alone doesn't say much at all ... you need to develop some propper and clean methods to plan your trades for the sessions to come ahead ... by using them for trend determination with the application of these really wonderful pivots ...

A longer time of observation is needed for that ... until you will have got enough practice to determine turning points with higher reliability ...

But once you have got it ... then you will never look for another method to come ...

It has some clear advantages specially in forex ...

When you talk about areas or levels of certain expected reaction with other participants or real existing counterparties of trading business ... then you will see that they all use the same methods and moreover they all use the same point of time (!) for "closing" ...

I just mention that because I have read here such confusing things like ... ohh I like to use the 'midnight hour at vermont' because I'm living there ... for the determination of open-high-low-close ...

Or such vague things like ... ohh I like to use Tokyo open-high-low-close because I love to trade "Godzillah Pairs" with chopsticks ... but when I prefer to trade accidentially "Cable" then I would love to use open-high-low-close for pivotal calculation when it is midnight at Big Ben ...

But that is gelinde gesagt einfach "dummes Zeugs" ...

That's barking up the wrong tree when using pivots ... because it is a commonly used procedure and a widespread agreement that 22:00 GMT / 23:00 CET / 22:00 UTC (which means possibly 17:00 EST) is the right point of time for such purposes ...



Therefore as active traders we all do have aprox. the same idea, same imagination, almost same perception and nearby similar anticipations of supports or resistances that are really working for us ...




;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #131
  • Dec 18, 2011 9:33am Dec 18, 2011 9:33am
As it is usually a floor traders tool ... you will see by the time that no silly watching charts on screens is needed for that anymore ...

But you must get confidence in using them ... and that needs some time ...


I do recommend this website at first - in order to backup your own work :


http://www.actionforex.com/markets/p...2010040848154/


They are accurate and precise enough for some first steps ...




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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #132
  • Dec 18, 2011 9:49am Dec 18, 2011 9:49am
Quoting mercy seat
As it is usually a floor traders tool ... you will see by the time that no silly watching charts on screens is needed for that anymore ...

But you must get confidence in using them ... and that needs some time ...


I do recommend this website at first - in order to backup your own work :


http://www.actionforex.com/markets/p...2010040848154/


They are accurate and precise enough for some first steps ...




;-|
Specially those additional view for pivots applied on four hours time frame ... here to be observed with a 10 min BARCHART view ... might give you some hints how to adjust your fine tuning with limit orders and stops ...

2011-12-16_21h59-GMT_EURUSD _ min010 _ pivotchart with 4 Hours PP

Additional four hours PIVOTS for fine tuning ...

But be aware ... daily PIVOTS are always the MASTER KEY ...






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Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-12-16_21h59-GMT_EURUSD _ min010 _ pivotchart with 4 Hours PP.png Size: 18 KB
Click to Enlarge Name: 2011-12-16_21h59-GMT_EURUSD _ min060 _ pivotchart with Daily PP.png Size: 19 KB
Click to Enlarge Name: 2011-12-16_21h59-GMT_EURUSD _ min240 _ pivotchart with Weekly PP.png Size: 17 KB
Click to Enlarge Name: 2011-12-16_21h59-GMT_EURUSD _ x-Daily _ pivotchart with Monthly PP.png Size: 18 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #133
  • Dec 18, 2011 10:17am Dec 18, 2011 10:17am
TABLE and survey of most important keypoints for the EUR/USD pair for the sessions on Monday and the week no. 51 ahead :



2011-12-16_23h15 - ZigZag + Pivot Survey _ EURUSD _ Rollover _ W-51 b



This is how we did apply those PIVOTS on a daily and weekly basis ...

In this case based on settlement of prices after NY and Chicago closing on Friday (22:00 UTC !) ...

Be aware we have closed our books already ... no big deals anymore due to the lower liquidity prior to X-mas holidays ...




;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-16_23h15 - ZigZag + Pivot Survey _ EURUSD _ Rollover _ W-51 b 1.PNG Size: 119 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #134
  • Dec 18, 2011 10:59am Dec 18, 2011 10:59am
Hi to all. I have made small Pivot EA. Here is backtested EU last 3 month. There are only two parameters. Delta1 and delta2: min and max distance in pips from previous day close to next day PP. I would like if someone could backtest too.
Attached Image (click to enlarge)
Click to Enlarge Name: Statement.png Size: 37 KB
Attached File(s)
File Type: mq4 TangoPivotEA2.mq4   5 KB | 602 downloads
  • #135
  • Dec 18, 2011 11:21am Dec 18, 2011 11:21am
Quoting mercy seat
TABLE and survey of most important keypoints for the EUR/USD pair for the sessions on Monday and the week no. 51 ahead :



2011-12-16_23h15 - ZigZag + Pivot Survey _ EURUSD _ Rollover _ W-51 b



This is how we did apply those PIVOTS on a daily and weekly basis ...

In this case based on settlement of prices after NY and Chicago closing on Friday (22:00 UTC !) ...

Be aware we have closed our books already ... no big deals anymore due...
You can use this calculator for another TF and point of time as well of course ...

2011-12-16_23h00 - www.pivotpointcalculator.com_6 Hours PP




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Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-16_23h00 - www.pivotpointcalculator.com_6 Hours PP.PNG Size: 136 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #136
  • Dec 18, 2011 1:03pm Dec 18, 2011 1:03pm
Quoting mercy seat
As it is usually a floor traders tool ... you will see by the time that no silly watching charts on screens is needed for that anymore ...

But you must get confidence in using them ... and that needs some time ...


I do recommend this website at first - in order to backup your own work :


http://www.actionforex.com/markets/p...2010040848154/


They are accurate and precise enough for some first steps ...




;-|

Even though you try hard to make peoples believe that you are profitable trader I know as you do, that you are not profitable at all...
By looking back at your profile and the attachment’s t that you contribute to FF with your analysis
I can see that you don’t get a strategy yet to approach the market and you are still in the search.
I can see that because In some of your charts you apply Boliger bands in another you apply Donchian channels and MACD in others Parapolik stochasticks and trend lines ,others with Pivots and Moving averages,Pinch forks,Gann, Fibo's ,
I can see that you are a mess up of a trader .
I recommend you to go back find a strategy that you will follow and then come back again to consult us
Sorry for my critics but you are a typical case of a failure pretending to be a winner!!!
  • #137
  • Dec 18, 2011 2:47pm Dec 18, 2011 2:47pm
Quoting tranco
.... and a strategy that you will follow and then come back again to consult us
Sorry for my critics but you are a typical case of a failure pretending to be a winner!!! ...
Maybe you guys should fix this in private ? So we can concentrate on that strategy ? :-)
#### Follow me at @LioH_ on Twitter ... ####
  • #138
  • Dec 18, 2011 2:58pm Dec 18, 2011 2:58pm
About daily (weekly & monthly) pivots, and mid-levels, I use that indicator.
Maybe you should find this interesting.
Attached File(s)
File Type: mq4 AutoPivotIndicator_ver5.mq4   31 KB | 711 downloads
#### Follow me at @LioH_ on Twitter ... ####
  • #139
  • Dec 18, 2011 9:02pm Dec 18, 2011 9:02pm
Quoting lhDT
Maybe you guys should fix this in private ? So we can concentrate on that strategy ? :-)
Please don't encourage bullshitting trolls to start with anoying spam via private messages. No problem when some forgot to take their RITALIN before going to bed. As you can see ... noboby cares.

And no no no no ... I never recommended to trade on TAs based on chart grafics. Just the opposite is the case.

2011-12-18_20h03 - Daily Pivot Point Trades - Page 10 @ Forex Factory

Problem solved already ... as you can see!




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Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-18_20h03 - Daily Pivot Point Trades - Page 10 @ Forex Factory.PNG Size: 184 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #140
  • Dec 18, 2011 9:59pm Dec 18, 2011 9:59pm
A REVERSO and long again since 1.2985 ...

Time 04:53 CET ...




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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
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