The Only Pivot - page 135
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Hello
fellow traders , wish you all succeed with this strategy i would like get some insights .
1-if we start trading on GMT 00 then what about the influence of economic data ?
2-what about the optimal SL ?
3- Steve refered that he sets his TP to 2 stages the first is 50pips the second was fibnacci then is this the optimal exit some other members refered to other exiting strategy but no one did comment of the optimal one .
4- does this strategy works with all JPY crosses or just GBPJPY ?
5-what if we post some statments so we all get some ideas & work on developing some new Features , alerts & so on .
Hope we have steve here to comment , i have been chatting with him someday he said this can return 20 to 30% on capital investment then i think this cna beat any if it is safe than martingale & blind correlation trades ..
hope those interested to post their comments ASAP maybe we are loosing pips waiting for others to post some new ideas ..
Happy new year for all full of pipsssss
For S/L, you should actually determine how much you can risk to lose. The GBPJPY is very volatile, it can move up and down by as much as 100 PIPs. If you feel it too much of a risk, I would just grab for small profits and then retreat. I have been grabbing just 80 PIPs with a S/L of 50. And guess what, a little later, the GBPJPY turned the opposite way giving more than 90 PIPs .
thx dude , what about people here trading it live or demo ??
hi, all those who are having success with this system , can you please tell us your trading times.
I am having a hard time understanding how to trade any manual system.
Can somebody educate me on this.
how long to sit and watch the trades esp like this system where 1 hr time frame is used.......
thanksHi !
Look at picture above... you don't need to have precise hours to trade, because a cross can happen in tokyo/london/ny session.
I have just setup my chart with original settings, more HMA36 who need to be tested but seem to be accurate with false signal (it's the big green/red curve).
I'm follow it on 6 pairs (gu, gj, gb, aj, ej & uj) and with a good MM an a target of 50 pips you can make good pips
every days...
Write me a PM if I can help you
Modifying PrevDayAndFloatingPivot.mq4 and PivotCustom_4TimeFrames.mq4
Hi Steven:
Thanks to you and all the great minds involved in this excellent thread working towards creating a wonderful trading system. I have only recently started familarizing myself with your system, 24 hours to be exact and I have already profited over 100 pips just playing with it. Proof attached.
I am not a coder, but the question I have is would it be possible to alter the two main indicator codes namely the PrevDayAndFloatingPivot.mq4 and PivotCustom_4TimeFrames.mq4 such that a trader can manually alter the time at which fresh lines are drawn on the charts.
At present this is only done at 0:00 GMT, but I was wondering that if an external option is created such that these lines can be redrawn at 8:00 GMT for european pairs, again redrawn at 9:00 GMT for the British pound pairs and finally redrawn at 13:00 GMT for US dollar pairs. This way it might be possible to protect any gains that are already made and be prepared for any turnarounds.
Best regards.
Raju
Thread Moved
The Only Pivot Thread is now located in Manual Trading Systems section.
The old link in Suggestions for Trading systems sections will be available for a week since now.
Today 50 pips
Live Trading
We share our experience with this system during live trading.If Intrested you join us .
http://www.skype.com/go/joinpublicchat?skypename=jmuhil&topic=ForexGuru's&blob=1NZ1UfUEdtQoZfxpDlsJ80cavTKIN1yvtn0kWB9snmU6d0LEl-IES4jKsbDet1JPJaYWvnR1vBSmfvUy6dvRi9GBW7yQ
I usually login at 23:00 GMT/6 EST
Thanks
MJ
eager to meet you guys tonight
Choppy day indeed. My first long trade was closed out for -42*3 lots = -126 pips and entered a short which was stopped @ -76*3 lots = -228 pips due to the news release, GBP Interest Rate Statement. I missed the long trade. Got in on a short prematurely especially since the news candle had a very long wick and got out at +52 pips.
Long story short I ended the day -302 pips. This is one of those bad days which we don't experience much with this strat. Tomorrow should be better and I will recoup my losses.
TimeFreedom
I will try and post daily trades for your review. I only trade GBPJPY and here is my MM:
I open with three (0.30) mini lots on 10K standard account. I close one (0.10) mini lot at +50 pips and move the SL on the remaining two (0.20) lots to BE+1 pip. I close one more (0.10) mini lot at +100 pips and move the SL on the last (0.10) lot to BE+50. I close the last lot at +160 pips. The max SL is -100 pips. I will usually get a reversed signal before hitting the SL.
Note: Enclosed you will find an EA that manages trades by setting the TP and moves the SL automatically. Be very careful with this EA because you need to reset it after each trade. I have also included a preset file.
TimeFreedom