Pivot Point Divergence
Interesting and impressive attachment.
I´ll be waiting for your opinion about this idea, I´m a newbie looking for a trading sistem that suits my style. Thank you
Update for this strategy. Best pairs for this strategy are the 7 majors and eurgbp
The trends shown are only there to show a difference in hidden not increase suggests that the break is important. I did not take this trade because I am still working on this system possible. One thing I am not sure how long to stay in business.
The trade is only valid for that day. When the day is over, close the trade. I´m still working on it to see wich are the best pairs but i´ll like to hear some ideas.
thaks
Hello Cristian
I have already posted a indicator that will calculate the daily pivot and S/R levels.The indicator will do the math for you and give you the precise buy and sell stop area and where to place your stop loss.
The idea is you place a buy stop and sell stop and two stop loss levels then go do your daily routine and come back as one of the levels will be hit and you will either have made money or lost money for that day.
I have read about a person who makes a very good living trading this way to the tune of 60k a year as the winners far outweigh the losers.If you are interested the indicator is located here https://www.mql5.com/en/forum/198544.
Can I have a pattern of trade, to be activated in conjunction with a pin trader will enter a trade in the points direction.Pivot opposite can be calculated for a period of time. In other words, the eve of the price used to calculate the pivot point for the current day.
Nice stratgey...I am interested in knowing how the strategy is working out. Do you have stats for last 2 months or so?
Trends show an increase in showing not only are there a difference in hidden important.The trade show that is breaking is only valid for that day. When the day is over, the business closed. The idea is that you place a buy stop and sell stop and two stop loss levels do not go if your daily routine and come back as a class and will be a hit or you have made money or the day lost money.
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Hello everyone, my english is not perfect but i beleave thats more than enouth for you to understand the estrategy.
I´m starting this thread because i want to hear from more experienced traders what they think about this.
It´s a very simple sit and forget day trading strategy, and the idea behind this is because i have a day job and i don´t have the time and don´t want to be in the front of my screen all day.
Ok, lets start. First i have divided in 5 trading sessions starting at 21h00 GMT. At the open of the Session we are going to se if the previous session at the opening the price is above or below the pivot point. If it is above we asume that the price should close above the opening price, if it is below the pivot point is the oposite. If that condition is not true than we have what i call "Pivot Point Divergence"
So if we have a divergence we enter the trade whith a market order. Stop loss is 10 pips above R1 for short position and 10 pips below S1 for long positions. Take profit levels are 10 pips above S2 for short and 10 pips below for R2. Close the trade if SL or TP reched or at the close of the trading session.
As you can see this strategy only use leading indicators as suport and resistance, and divergence. I never hear anyone talking about a strtegy like this so i will apreciate to hear what do you think about and ideas to improve this. I´ll be waiting for your replies.
Thank you