An EA — Guys, I have been receiving PMs about a possible EA. Since it is pretty straight forward I have decided to try my hand at programming one. Wish me luck!

Daily Pivot Point Trades

A quick bit of math has shown that for 2011, the daily range stayed within R1 and S1 only 23% of the time. It has stayed between R2 and S3 a full 70% of the time, and for R3/S3 92% of the time. You can also look at it from the glass half full view: ...

Daily Pivot Point Trades

I personally have only used it for EURUSD and GBPUSD. With the midnight EST as your new day any european currency should work. For the Asian-Pacific currencies I would say 1700EST would be your best bet. Keep in mind when/where the most money trades ...

Daily Pivot Point Trades

Something to keep in mind: While the 75% of the Pivot-High (or low) is arbitrary, the raw win % is not. While the graphs are pretty, what is more important to consider is the win percentage and the hypothetical R:R and what they mean. 1) ...

Daily Pivot Point Trades

I do agree, but for the sake of testing I just put in 75%. I will work on coming up with a strict set of rules for closing trades that everyone can use for forward testing. Personally, by focusing on one pair, keeping an eye on news and the time of ...

Daily Pivot Point Trades

Maybe an example would help. If I get the following information: R1 1.2550 Pivot 1.2500 S1 1.2450 Close 1.2525 Then my order would look like this: Buy 1.2500 Stoploss 1.2450 Take profit none Its on you to close the trade. I have found that for ...

Daily Pivot Point Trades

Since I couldn't sleep I tested a few things with my data. Turns out Mondays are not good trading days (using Sunday H,L,C). The win percenage went up to 71% just by excluding Mondays. If you combine the H,L,C of Friday with Sunday though it should ...

Daily Pivot Point Trades

I just picked 75% because most of the time I've been able to close around that mark. As far as the entry: Buy or sell at the daily pivot depending on the bias of the day. Set the SL at S1/R1. That's really all there is to it. I should have probably ...

Daily Pivot Point Trades

Looks like I wasn't very clear in my initial post about how I use the pivots and their significance. The daily pivot is just the average price of the previous day. If no new information comes into play, the market will see that as the fair value. We ...

Daily Pivot Point Trades

Price gravitates towards the pivot, if you just open a trade at midnight you are risking extra pips for no reason. When I get the new pivot values I put in a buy order with the execute price at the pivot and the SL at the appropriate S1/R1. You ...

Daily Pivot Point Trades

(Lol, the email I got from FF summarizing your post ended on "would you think?" Making for a much harsher post.) As far as an EA is concerned, I have no doubt that it could be done. There aren't any sound take profit criteria or money management ...

Daily Pivot Point Trades

url This thread from forexsaint might help. Basically, his idea is when you double the account take out the original capital and trade essentially risk free. If you're worried about blowing the account that is about the best you can do. Either ...

UP 124%. What Should I do? Have you been in my shoes?

So you know you made a mistake here, what are you going to do to keep it from happening again?

The Last Account

Quick Update — Just a quick update, I haven't been trading this week due to work stuff, but have been toying with some thoughts that I would like to share. My 3 TP target MM method is no good. I risk too many pips for a return. Instead I have ...

BongaBonga's Trading Emporium

I hate to be a Negative Nancy here, but this line in your original post really stood out. Ron, I don't think you have the right mindset to be trading live money. You don't invision yourself winning. Have you considered trading a practice account ...

The Last Account

Update — I made two more trades (well 4, more I closed 2 out at BE) both for a loss. I am trying out Pivot points, getting a feel for how PA plays off them. Puts me down 9% for the week. My summary for the week still stands. I am ...

BongaBonga's Trading Emporium

Entered a short on EURUSD at 1.3510 (a few pips below the low of yesterday) with a SL of 1.3562. Trade went my direction for about 20 pips or so and then turned around and hit my SL. A hit of -1.8%. I figured that we would see a retrace but I took ...

BongaBonga's Trading Emporium

Well, I took advantage of Italy's bond problem yesterday. When I saw prices break below the low of 2 days ago on EURUSD I sold and followed my TP targets. Ended up with 270 pips (remember I trade 3 "lots") Same thing with GBPUSD, not as good of a ...

BongaBonga's Trading Emporium

Got stopped out of both trades, both for a loss.

BongaBonga's Trading Emporium