₦airaland Forum

blkmum700: bro,by this statement above does it mean you target 50% of your investment capital a month?

infofirst: Your system is good bro n u can always make it better, but then, do u think a full time trader can trade just once a day? It all depends.....

pipmaster77: I do the opposite

$1000 - 0.2
$5000 - 1.0

Reason, I do most of my trade using M2 offline chart (Renko chart) and SL is always close because there's no noise in the chart but I think I need to reduce my trading size now if I am going to follow your system (pivot points strategy). For months, I have been trading mainly EU and I do target 50pips per week (winners - loser = 50Pips), 200pips per month which represent 40% increase in my equity but most week I do surpass my target.

I believe this book with further help our members.

pipmaster77: Good points and worthy of emulating but what's the maximum draw-down you normally allow or what's the maximum % of your equity you do risk on a good setup?

Thanks for your good work.

nolly042: what a week i must say. 300 pips weekly target and i have 413 pips bagged in already. i do not need to disobey myself.
let me also use this opportunity to tell the house that by 2nd of July i will be going for my NYSC orientation camp after which i commence again. will be missing u all for one month

pipmaster77: Good points and worthy of emulating but what's the maximum draw-down you normally allow or what's the maximum % of your equity you do risk on a good setup?

Thanks for your good work.

regiboy: which broker do you use?

lari03: I just went to the link dropped by infofirst and I discovered same things were there with a better explanation, I spotted a strategy on babypips.com it is called HLHB system with [s]ema 10 and 20 + ADX and ATR on a 4 hour chart used to identify entries and exits[/s]. Another system is the F9D1 system, where 5,10,14,21,and 50 EMAs crossovers are used to spot entries but I have not personally used it in combination with my strategy. I am thinking of testing SMA's(because they give fewer false signals) or EMA's to confirm trend direction and so add confidence to remain in the market for higher profit taking levels.

lari03: here it is, please puncture any loose ends so that I can make it better.
PIVOT POINT AND PRICE ACTION TRADING PLAN
REQUIREMENTS: Knowledge of news releases and time ( forexfactory.com)
Indicators: pivot point calculators, Stochastics
Candle stick charts: 1hour, 4 hour, Daily time frame.
Trading style: Discretionary
Components: Time of session open + 3hours
Session bias
Trend of financial instrument, on 1 & 4 hour charts.
Momentum in the market.
Target: 30 pips or exit prior to a price level line on the pivot point indicator.
Entry: Timing is very important, [s]after 9a.m is the best period except in the case of a news release.[/s]
[s]RULES & OBSERVATIONS
1. If a candle breaks and closes beyond a certain level of the pivot point, then the bias is to continue in that direction except a reversal occurs before the time of entry.
2. If a reversal occurs it is often as a result of price reaching a technical level, continuation is an indication of a strong inter session bias.
3. If the price opens below the pivot point, price will gravitate towards S1 in the Asian session, if the price opens above the pivot point price will gravitate towards R1. So if trading between 7 and 8 am aim for those price levels.
4. Observe the curve/incline of the candle sticks from and it would lead to an understanding of where the market will go, if there is no obvious direction, stay out of the market.
5. The strategy works best around session opens when price is moving with the overlap of 2 trading sessions. ( GBP/USD is a morning mover, EUR/USD is an afternoon /evening mover). Volatility works well when you follow the market.
6. News is important, you need to know what feelers are running through the market, but whatever Journalists say often run contrary to the market. Trade when news has been released or exit before high impact news releases.
7. When there is low volatility, price does not easily break levels, it will reach and it and turn back, before retesting that area again.
8. Session bias between the Asian and European session changes between 9 & 10am, if the price has reached a major level. Trend reversals occur at 11am and if the session bias changes later, within two hours exhaustion will set in.
9. Determine what moved the market before you enter, was it the asian close or news release, a strong long term trend (bearish in particular) is the exception that drives prices to continue in the direction of the Asian close.
10. Pivot point, R1 and S1 are the most significant daily price levels of activity.
11. Reversals from a move make good opportunity to scalp. Or to enter a position ahead of the American session.
12. News, session bias and trend, momentum and indicators are necessary information to watch for a successful trade.
13 If volatility is low and movement is slow, reversals will not be sharp.[/s]


I assume that the knowledge of stochastics is common and its use informs how a trader assesses the market.

unclenna: pls is not tomorrow. The testing will finish tomorrow and by 12noon tomorrow i will put up a post(on hw you can get it) on my facebook page where everybody will put there email as comment then from saturday to sunday i will start forwarding it. I will not like here 2 be flooded with emails thatz y am taking it 2 my page. The system will come with its rules and money mgt system. This system if followed well can turn 1k dollars to 50k dollars in 6 months. I will show you how you will do it. But do not commercialize the system.

pipmaster77: It'll be share tomorrow according to his statement.

pipsharvester: @where is next point of call 101.35 breached still holding

bond777: Good call

cheers

hisableplc: uncle nawa u oh 9ce 1

unclenna: BUY LIMIT EJ @ 100.789 SL= 100.289 TP= 101.359(4:17am 21/06/2012)

unclenna: BUY LIMIT EJ @ 100.789 SL= 100.289 TP= 101.359(4:17am 21/06/2012)

Triggered.....let's see how it goes.

honeric01: That i didn't arrange it in an ascending manner does not mean you should ignore the point i was trying to make.. you sure know people have daily, weekly, monthly, bi-monthly, bla bla bla to yearly profit target and not everyone likes going same way when it comes to profits and targets.. that was what i was trying to point out. anyways more pips to us.

honeric01: ^^^^^

Some people have weekly target and hardly takes profit daily.. some take theirs monthly while some do theirs at the end of every trading day. maybe you should picture this too.

LaconicINC: are you are prophet? as at the time you gave this alert i was awake and was skeptical about the call,but i entred anyway,though what i was seeing at the time was a sell,wow! that means version 2 is the missile o,can't wait to lay hold on it,my tp was hit!!!

LaconicINC: are you are prophet? as at the time you gave this alert i was awake and was skeptical about the call,but i entred anyway,though what i was seeing at the time was a sell,wow! that means version 2 is the missile o,can't wait to lay hold on it,my tp was hit!!!

unclenna: No loss trade [/b]since I started test running my New system in [b]live account.......@ the end of Friday trading I will start giving it out...is just that some people may lay hand on it and commercialize it. That's my fear...

unclenna: Am in love with EJ for real...The currency just dey make me KOKOROKO

pipmaster77: Yes in trading because we make decisions everyday base on our systems/strategies. Holy Spirit can instruct one on which pair to trade but He wouldn't do the work of studying your chart and master the art of trading for you. He'll influence you and shorten your learning period, all depend on you as a believer to acknowledge His work in your life.