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07-06-2009, 09:37 PM
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[quote=rickos69;304632]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)
rickos69 -
Are you using an indicator for the pivots? If so can I ask what indicator? If you don't mind sharing? Is it for MT4
cindians
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07-06-2009, 09:38 PM
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Quote:
Originally Posted by swifty
A little knowledge can also be dangerous.  |
Not when it comes to CodyB's! |
07-06-2009, 09:40 PM
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Quote:
Originally Posted by CodyB
man that is sweet pips..... 
I am just trying to keep some of the newbies from losing their accounts so fast and a little knowledge never hurts. |
And we greatly appreciate it CodyB...believe me! |
07-06-2009, 09:48 PM
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Quote:
Originally Posted by oztrader
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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Well, as always, only death and taxes are guaranteed. But, yes, that's the idea. One more point. If it doesn't feel right, abort. That feeling of right or not comes with time. Again, better to lose a trade, than lose money.
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Rickos.
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07-06-2009, 09:50 PM
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[quote=cindians;304638]
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)
rickos69 -
Are you using an indicator for the pivots? If so can I ask what indicator? If you don't mind sharing? Is it for MT4
cindians
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I use tradestation. For MT4 Cody knows. On tradestation, per Cody,s instructions, I use the previous Daily pivots that the platform charts automatically when you select them.
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Rickos.
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07-06-2009, 09:55 PM
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One last point. I am not saying that this is THE system. It's just something that has worked so far for me. Time will tell, and probably I will make adjustments. And I haven't been jumped by breaking news yet. Of course, what system is immune to that?
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Rickos.
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07-06-2009, 10:02 PM
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[quote=rickos69;304644]
Quote:
Originally Posted by cindians
I use tradestation. For MT4 Cody knows. On tradestation, per Cody,s instructions, I use the previous Daily pivots that the platform charts automatically when you select them.
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CodyB can you advise? I have found some indicators but they don't match to your pivots.
cindians |
07-06-2009, 10:09 PM
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[quote=cindians;304647]
Quote:
Originally Posted by rickos69
CodyB can you advise? I have found some indicators but they don't match to your pivots.
cindians
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Work your way backwards from today's posts. You'll come to Cody's posts on exactly this. No more than 2-3 days back.
And remember, you're always playing with odds. I won't go back in time, just point you in the direction of the GBP forums, where they officially pronounced GBP dead this morning.
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Rickos.
Last edited by rickos69; 07-06-2009 at 10:20 PM..
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07-06-2009, 11:07 PM
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[quote=rickos69;304649]
Quote:
Originally Posted by cindians
Work your way backwards from today's posts. You'll come to Cody's posts on exactly this. No more than 2-3 days back.
And remember, you're always playing with odds. I won't go back in time, just point you in the direction of the GBP forums, where they officially pronounced GBP dead this morning.
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Rickos69,
What time frame charts do you look at to get your signal for a trade based on your pivot point system? |
07-07-2009, 12:06 AM
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[quote=oztrader;304665]
Quote:
Originally Posted by rickos69
Rickos69,
What time frame charts do you look at to get your signal for a trade based on your pivot point system?
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Daily chart, using the previous day's pivot points.
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Rickos.
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07-07-2009, 12:15 AM
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Hi Rickos, I hope you're still around. I was looking for cable pivot points and when I click OK it all comes into a bunch of lines around 1.63000, it happens sometimes. Before I clicked OK the top one was at 1.6500 and the bottom one at 1.6000 which makes more sense to me. Any idea why? (FXCM charting package)
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Trade your own ideas. When you haven't got any, it's a sure sign you should not trade.
Melbgirl
Last edited by melbgirl; 07-07-2009 at 12:47 AM..
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07-07-2009, 12:28 AM
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[quote=rickos69;304674]
Quote:
Originally Posted by oztrader
Daily chart, using the previous day's pivot points.
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Hi Rickos,
Sorry, I think you mis-understood my question. I too use the daily pivots, but I take my trading signals off of a 30min candle chart to look for entry points and exit points for intra-day trades.
Which time frame charts do you look at for your signals ie. 5min, 15min, 30min, etc charts? |
07-07-2009, 01:31 AM
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[quote=oztrader;304676]
Quote:
Originally Posted by rickos69
Hi Rickos,
Sorry, I think you mis-understood my question. I too use the daily pivots, but I take my trading signals off of a 30min candle chart to look for entry points and exit points for intra-day trades.
Which time frame charts do you look at for your signals ie. 5min, 15min, 30min, etc charts?
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I especially like RSI on the 5 min to be oversold or overbought.
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Rickos.
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07-07-2009, 01:34 AM
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Quote:
Originally Posted by melbgirl
Hi Rickos, I hope you're still around. I was looking for cable pivot points and when I click OK it all comes into a bunch of lines around 1.63000, it happens sometimes. Before I clicked OK the top one was at 1.6500 and the bottom one at 1.6000 which makes more sense to me. Any idea why? (FXCM charting package)
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I would start over. Also, did you check that the start end date is yesterday, and not crossing over to today for example?
Yeah 1.65 to 1.60 is right. Let me know if you fixed it. I'll hang around for a while.
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Rickos.
Last edited by rickos69; 07-07-2009 at 01:43 AM..
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