This is my system that i have been trading for a while now, its very profitable and i want to share it with you :
What you need to do if you want to trade along with me :
1/Pin bars
2/ 30 min charts
3/ Daily Pivot points (which can be found here) Forex Pivot Points - Free Daily Pivot Points and Camarilla Levels
4/ Markets : eur/usd, gbp/usd, eur/gbp, eur/jpy,aud/usd, and usdjpy for currencies and ftse, dax, cac40, s and p, dow, gold and wti oil
Rules for entry:
1/Pin bar must cut the Daily Pivot points this can be the DP, R1, R2,R3, S1,S2,S3
2/ The pin bar can be in the direction of the trend or counter trend
3/Entry is 1 point above or below the pin in direction of the pin
4/ Stop is 1 point below or above the pin
5/ Risk/reward must be at least 1 to 1,
6/ If you take a trade off the Daily Pivot point short then your target is S1 or if you go long then the target would be R1
example trades:
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you can use an indicator to plot your pivot points for currencies which i find very accurate but if you want to plot the index, gold and oil you can use the one here on number 6 http://www.trade2win.com/boards/gen...aily-pivot-indicator-mt4-ohlc-adjustable.html
you will have to input all the levels before you trade in the morning from livcharts.co.uk this should take you a few minutes
also just to add, i will trade ftse dax and cac till 430 uk time and all the currencies from 830 to 4pm uk time
i will trade the dow and s and p just after the US open which is normally 230pm here in the uk
and i will trade Gold and OIL from 830am uk time to 430pm
any question please shout
Alot people have asked me how I take my trades so here is a check list I run either in my head or on paper if you can remember it, it might help you to filter out the bad from the good trades
Check List update :
1/ Is the Trend clear
2/ pin bar looks right
3/ close to pivot levels
4/any news immanent
5/Average daily range (where are we within the range)
6/Stock market trend
7/Current time of day for what your trading
8/Is it a monday
9/Is there another value area close to the trade entry
10/ how close is a round number
These things all affect my trade entry and they are things that I can scan in a few seconds
Happy trading
Alot people have asked me how I take my trades so here is a check list I run either in my head or on paper if you can remember it, it might help you to filter out the bad from the good trades
Check List update :
1/ Is the Trend clear
2/ pin bar looks right
3/ close to pivot levels
4/any news immanent
5/Average daily range (where are we within the range)
6/Stock market trend
7/Current time of day for what your trading
8/Is it a monday
9/Is there another value area close to the trade entry
10/ how close is a round number
These things all affect my trade entry and they are things that I can scan in a few seconds
Happy trading
Heading out to the London Traders Network drinks tonight 19th sep at Penderel's Oak
283-288 High Holborn, WC1V 7HP, London starts at 630pm if anyone fancies a pint and a chat about trading, over 100 people booked to attend so will be a big event
Heading out to the London Traders Network drinks tonight 19th sep at Penderel's Oak
283-288 High Holborn, WC1V 7HP, London starts at 630pm if anyone fancies a pint and a chat about trading, over 100 people booked to attend so will be a big event
How did it go?
Great Night out, biggest yet in the meetup group, if these number that to get bigger and bigger then a new venue will have to be found.
I did not meet alot of people from trade2win but hopefully any London based ones can make it to the next meetup
The organiser Paul is a great guy and worth meeting just alone for a chat, also this time people were divided up into different groups depending on what they trade and timeframes so it helps you to pick who to chat too
patrick
i get emails from them. Whats it all about.any skirt there for Flash
Now Flash this is a serious traders meeting but I have to say there was plenty of easy on the eye ladies to keep you busy :cheesy: