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07-06-2009, 07:13 PM
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for those learning fibs add 127 to your numbers, price will respect this and 76.4 for major reversal points........add that to my previous post about retracements and you have some nice areas to look for and trade to and from.  now you do the rest of the work
and watch OIL for clues to where we go from here...swing point to watch is 66.50
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Don't Chase the market let the market come to you
Last edited by CodyB; 07-06-2009 at 07:19 PM..
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07-06-2009, 07:22 PM
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and look to S&P futures at 905 and the german Dax at 4800 to 4850 for dollar weakness....
without these levels we cannot see a sustained move up in the majors
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Don't Chase the market let the market come to you
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07-06-2009, 07:28 PM
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Quote:
Originally Posted by CodyB
and look to S&P futures at 905 and the german Dax at 4800 to 4850 for dollar weakness....
without these levels we cannot see a sustained move up in the majors
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Ummm... Mr. Cody?
Can I go to the bathroom?
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Rickos.
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07-06-2009, 07:31 PM
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Quote:
Originally Posted by rickos69
Ummm... Mr. Cody?
Can I go to the bathroom?
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ok, I am bored and I am done......sorry rickos ;(
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Don't Chase the market let the market come to you
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07-06-2009, 07:33 PM
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Quote:
Originally Posted by CodyB
ok, I am bored and I am done......sorry rickos ;(
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C'mon, you know I'm hanging on everything you say. This is a classroom isn't it? And you're the Prof!!!
BTW. 160pips last 24hrs. Just pivots. Thank you.
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Rickos.
Last edited by rickos69; 07-06-2009 at 07:35 PM..
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07-06-2009, 07:38 PM
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Just one point. I was under the impression that you're pure technical. You DO pay attention to what's going on. I guess that tells you which way to play your fibs.
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Rickos.
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07-06-2009, 07:47 PM
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Quote:
Originally Posted by rickos69
C'mon, you know I'm hanging on everything you say. This is a classroom isn't it? And you're the Prof!!!
BTW. 160pips last 24hrs. Just pivots. Thank you.
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man that is sweet pips.....  
now just dont give um back and not completely tech...I look at the entire picture from treasuries and the $ index to the S&P 500 to equities to everything that moves the world financial markets...
I am just trying to keep some of the newbies from losing their accounts so fast and a little knowledge never hurts.
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Don't Chase the market let the market come to you
Last edited by CodyB; 07-06-2009 at 07:49 PM..
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07-06-2009, 07:49 PM
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Quote:
Originally Posted by CodyB
man that is sweet pips.....
now just dont give um back and not completely tech...I look at the entire picture from treasuries and the $ index to the S&P 500 to equities to everything that moves the world financial markets... |
Of course, early, when the bottom was falling out, I needed a towel.
And it doesn't happen every day. The best part of pivots is minimizing your losing trades.
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Rickos.
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07-06-2009, 08:23 PM
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Quote:
Originally Posted by rickos69
Of course, early, when the bottom was falling out, I needed a towel.
And it doesn't happen every day. The best part of pivots is minimizing your losing trades. |
Hi rickos69
160pips in the week is excellent - well done.
I too am using the pivots to find entries and exits for my trades, and have been greatly assisted by CodyB's posts on this forum to that end.
Could you provide a brief summary of how you are using the pivots to find your entries and exits on trades?
Thanks for your help. |
07-06-2009, 08:27 PM
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Quote:
Originally Posted by CodyB
man that is sweet pips.....
now just dont give um back and not completely tech...I look at the entire picture from treasuries and the $ index to the S&P 500 to equities to everything that moves the world financial markets...
I am just trying to keep some of the newbies from losing their accounts so fast and a little knowledge never hurts. |
A little knowledge can also be dangerous. |
07-06-2009, 08:45 PM
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Quote:
Originally Posted by swifty
A little knowledge can also be dangerous. |
in forex? please explain
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07-06-2009, 08:50 PM
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Quote:
Originally Posted by CodyB
vacations...this is why there is such low liquidity in the summer markets
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LOL. I'm sure there are others in the office to take up the slack when some go on vacation. Going on vacation sounds like an explanation they would give on CNBC. It is funny when traders need an explanation for everything in forex. Market goes up 50 pips fast and many want to know why did it do that. Or if liquidity is 10% less in the summer and the market is quiet for 8 hours or so, oh! the traders are on vacation. These things do nothing to increase the balance in your account.
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07-06-2009, 09:09 PM
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FXCM UK
Just curious who might be making the move. I am new at this and like the information posted in the forum. Not sure that would be the same if I change.
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07-06-2009, 09:18 PM
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Quote:
Originally Posted by oztrader
Hi rickos69
160pips in the week is excellent - well done.
I too am using the pivots to find entries and exits for my trades, and have been greatly assisted by CodyB's posts on this forum to that end.
Could you provide a brief summary of how you are using the pivots to find your entries and exits on trades?
Thanks for your help.
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For the example, let's assume that the pair you want to trade, after factoring in all the information you have, is pretty near its top.
R2 - Other half of what I'm willing to risk (Sell)
R1 - Half of what I am willing to risk (Sell)
Center - Nothing
S1 - Nothing
S2 - Half of what I am willing to risk (Buy)
If you follow several pairs, you'll probably get 1 or 2 trades in. Sometimes, nothing. Usually, my order is 5-10 pips above pivot for sell, and the opposite for buy, to accomodate overshooting. Especially in GBP. Notice on the buy side, no trade at S1. I trade S2 for a bounce. If the trend is up, I reverse tactic.
If I get in at R1 and/or R2, I double the buy at S2, so it will close the sell, and I'll be net buy. then I give it some room from my profit, just in case it keeps going, and if it does, I just made less from the sell. Otherwise, it's soooo sweet.
Of course, all this if everything goes well. Sounds simple, but you sweat it out.
I'm still playing with it, since I'm new to pivots.
Only Cody knows where to get in exactly, and where to get out.
The most important part is to NEVER jump the gun. Better to lose a trade than get in early. I put in my orders, and then just follow the news, in case something happens that may reverse trend, etc.
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Live Long And Prosper!
Rickos.
Last edited by rickos69; 07-06-2009 at 09:28 PM..
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07-06-2009, 09:29 PM
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Quote:
Originally Posted by rickos69
For the example, let's assume that the pair you want to trade, after factoring in all the information you have, is pretty near its top.
R2 - Other half of what I'm willing to risk (Sell)
R1 - Half of what I am willing to risk (Sell)
Center - Nothing
S1 - Nothing
S2 - Half of what I am willing to risk (Buy)
If you follow several pairs, you'll probably get 1 or 2 trades in. Sometimes, nothing. Usually, my order is 5-10 pips above pivot for sell, and the opposite for buy, to accomodate overshooting. Especially in GBP. Notice on the buy side, no trade at S1. I trade S2 for a bounce. If the trend is up, I reverse tactic.
If I get in at R1 and/or R2, I double the buy at S2, so it will close the sell, and I'll be net buy. then I give it some room from my profit, just in case it keeps going, and if it does, I just made less from the sell. Otherwise, it's soooo sweet.
Of course, all this if everything goes well. Sounds simple, but you sweat it out.
I'm still playing with it, since I'm new to pivots.
Only Cody knows where to get in exactly, and where to get out.
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rickos69,
So when the price is at the pivot and you get a long signal you trade to R1 or R2 as your TP point, and to S1 or S2 on a short signal?
And when the price is already at R2 or S2, do you trade the signal back to the pivot point?
I hope that the question makes sense.
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