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PIVOT only (Forex Loser)

  • #1
  • First Post: Oct 21, 2012 11:10pm Oct 21, 2012 11:10pm
Hello traders,

I'll show you how I analyze price movements in h4, and then trade in H1 according to Pivot S/R.

Do not follow me because I always lose. Only occasionally win 2 times in a week.

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  • #2
  • Oct 21, 2012 11:29pm Oct 21, 2012 11:29pm
I do not trade on H4 but I use it only as driving directions to take decisions in H1. Sometimes, I will not take sell position in H1 if H4 is bullish.

Below is a chart in h4 and I've analyzed it in some of my post in the other thread.
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  • #3
  • Oct 21, 2012 11:36pm Oct 21, 2012 11:36pm
Where the direction of the euro today? frankly I do not know.

But if the question is, Where the direction of the Euro tomorrow until Friday? I am sure I would know (90%).
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  • #4
  • Oct 21, 2012 11:49pm Oct 21, 2012 11:49pm
So many indicators out there, but I just believe that Pivot could point stoploss and a target appropriately.

I never chase a target of 100 pips profit, because sometimes I've already lost or won 4% of the capital after price moves about 35-40 .
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  • #5
  • Oct 21, 2012 11:57pm Oct 21, 2012 11:57pm
Last week I have 3 winning trades 1 losing trades and 1 draw. I made call in advance.
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  • #6
  • Oct 22, 2012 12:07am Oct 22, 2012 12:07am
I don't play today because I need to submit some policy applications to my assurance office. Please, I don't mean to recruit you as my assurance client, I am in Jakarta and not intend to prospecting people abroad nor in Indonesia through FF.
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  • #7
  • Oct 22, 2012 12:12am Oct 22, 2012 12:12am
hi...
please share your rule. I apreciate it.

peace
  • #8
  • Oct 22, 2012 12:16am Oct 22, 2012 12:16am
Please try it for your self
Attached Image (click to enlarge)
Click to Enlarge Name: euroh1.gif Size: 31 KB
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  • #9
  • Oct 22, 2012 12:22am Oct 22, 2012 12:22am
I am an assurance Unit Manager because I help some of my clients how to trade forex for themselves so that their policies don't laps.
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  • #10
  • Oct 22, 2012 1:22am Oct 22, 2012 1:22am
Quoting franktiger
hi...
please share your rule. I apreciate it.

peace
Hello franktiger, Welcome to my thread but please don't forget that I am a loser.

If H4 bullish, buy from Pivot H1 and even better if MACD is above 0 and prices are above Ichimoku . I will always be here as long as I haven't got 3 wins in a week. Tuesday to Friday.
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  • #11
  • Oct 22, 2012 1:29am Oct 22, 2012 1:29am
Quoting bold
Hello franktiger, Welcome to my thread but please don't forget that I am a loser.

If H4 bullish, buy from Pivot H1 and even better if MACD is above 0 and prices are above Ichimoku . I will always be here as long as I haven't got 3 wins in a week. Tuesday to Friday.
Hello!

It's nice to see such a simple yet very logical trading strategy!

As I get it - your indies on the charts are not to trade off them, but to analyse current market conditions. And your trade are off pivots.

My question to you is - what about stop losses... I mean - do you place them around opposite pivot S/R ?

Thank you, and good luck in trading!
  • #12
  • Oct 22, 2012 1:37am Oct 22, 2012 1:37am
Quoting dim4ik42
Hello!

It's nice to see such a simple yet very logical trading strategy!

As I get it - your indies on the charts are not to trade off them, but to analyse current market conditions. And your trade are off pivots.

My question to you is - what about stop losses... I mean - do you place them around opposite pivot S/R ?

Thank you, and good luck in trading!
Hello and thank you.

Yes, I will use S1 as stop loss if I am in Buy position and usually not more than 40 pips.

I will copy paste some charts from my previous post in other thread.
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  • #13
  • Oct 22, 2012 1:48am Oct 22, 2012 1:48am
First, I identify trend in H4

http://www.forexfactory.com/attachme...1&d=1350643958
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  • #14
  • Oct 22, 2012 1:51am Oct 22, 2012 1:51am
and place order in H1

http://www.forexfactory.com/attachme...1&d=1350666546
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  • #15
  • Edited 2:11am Oct 22, 2012 1:57am | Edited 2:11am
Example : Sell 1.3036 Stop 1.3065
There is a difference 29 pips between the sell and stop, I will use 1.3007 as my target. in this case 29 pips = 4% of my deposit.
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  • #16
  • Oct 22, 2012 2:08am Oct 22, 2012 2:08am
Quoting bold
Example : Sell 1.3036 Stop 1.3065
There is a difference 29 pips between the sell and stop, I will target use 1.3007 as my target.

Ok! Thank you for answer!
  • #17
  • Oct 22, 2012 2:12am Oct 22, 2012 2:12am
Quoting dim4ik42
Ok! Thank you for answer!
my pleasure
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  • #18
  • Oct 22, 2012 2:24am Oct 22, 2012 2:24am
The reason I don't like trading on Monday
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  • #19
  • Oct 22, 2012 4:37am Oct 22, 2012 4:37am
I am still on holiday
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  • #20
  • Oct 22, 2012 4:51am Oct 22, 2012 4:51am
I never entry if the probability of winning is less than 90% . I better wait for my good opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: euroh1.gif Size: 25 KB
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