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Pip Accumulator


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This is the fastest trade i have ever done.

 

Entry was on the spot, didnt wanted to be greedier so closed when i felt its enough for me.

 

Made $ 1055 in straight 13 minutes. :-O

 

Todays Total Profit is $ 1821 8-)

 

 

Hi, Psaini Well Done!

But I notice you trade outside London Market this time? The signal (in 15M) was at the end of London Market....

 

Here are some of my rules i made for myself trading with "Soundfx System"

 

1) Trade only one pair. i consider EUR/USD as the Major of Major Pair. (Sometimes i trade EUR/JPY also if its in correlation with EUR/USD, but only after Japanese mkt close)----------->now trade 2 or 3 pair (EU, EJ, and UCHF)

 

2) Fix trade timing... i start my trading from London open to London close, i will only carry forward a trade after london close (but will close as soon as possible), will not take a fresh trade after london close.

 

3) Never enter in the middle of a signal given by the system, always wait for a fresh signal... if u missed 5 Min signal then look 4 fresh signal in 15 Min....

 

4) After a signal is given dont jump in to it , look for recent high n lows and accordingly place ur trade.

 

5) I personally never trade during or b4 the imp. news, only after it is over and its effect has subsidized.

 

6) Discipline and patience is the key to success ( which i lack both of them but i m trying to attain both of them)

 

7) Each day b4 starting ur MT4 platform check FF for imp. news and act accordingly.

 

8) This system is not Holygrail.. losses will happen, its the cost that we pay for trading forex,

 

9) Entering a trade at right time is imp. but its the Exit that will make us rich or poor

 

10) Be honest with yourself, share ur all results whether in loss or in profit, many forex experts are here to help u with ur trading. they will point out wat mistake u r doing.

 

Edited by Roels Major
"You Ain't Seen Nothing Yet!".
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Hi, Psaini Well Done!

But I notice you trade outside London Market this time? The signal (in 15M) was at the end of London Market....

 

London was very much open at that time my frnd. According to my broker time the London close at 17:59 PM.

 

95% of times i dont trade after London close but yes i have taken a trade or two after London close after much thought and analyzing the mkt.

Edited by psaini1973
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So what u think today....this time is consolidation period in EU and UCHF....will the price continue to going down (EU) below Support 1 at 1.30065?

 

Its hard to say at this moment, there's a tight range building up, i am hoping it shld explode either ways. But London will decide where the pairs will go, i just simply follow them

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Well its not a trade that i feel proud of... i had the perfect entry. Was just hoping that E/U would hit S-2... But E/U just not going down below 1.2960 . Waited more than 4 Hrs but of no use.. closed with the some profit.

 

Todays Net profit is $ 975 :( ( i had more profit than this at given point of time)

 

i Am Still Confident that E/U will hit S-2. ( But i am running out of my patience)

 

Check Out: http://img155.imageshack.us/img155/1725/eur55.gif

 

http://img155.imageshack.us/img155/1725/eur55.gif

Edited by psaini1973
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Fibonacci and pivots are calculation, not reality and by the way every FX greenhorn is using it. Be contrary! You have to draw your own SR lines because they are build on reality. It is very easy to do just zoom out and connect the corresponding levels with lines.

No big deal.

Hermes

Edited by hermes
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The calculation for a pivot point is shown below:

 

Pivot point (PP) = (High + Low + Close) / 3

 

Support and resistance levels are then calculated off the pivot point like so:

 

First level support and resistance:

 

First support (S1) = (2*PP) – High

 

First resistance (R1) = (2*PP) – Low

 

Second level of support and resistance:

 

Second support (S2) = PP – (High – Low)

 

Second resistance (R2) = PP + (High - Low)

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There should be GMT offset setting included in Pivot indicators to calculate properly to broker's time, shouldn't be?

Hermes

 

Maybe there should be and if you find one, please let me know - I can use the code for some other projects. Also, please let me know which snake oil salesman (forex seminar seller) is correct as some swear by GMT for pivots yet others swear by NY for pivots, ADR, MA, and a few dozen other indicators. The same for the previous high, low and close. To the best of my limited knowledge there is no universal agreement as to which time zone is the "correct" one to use.

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Maybe there should be and if you find one, please let me know - I can use the code for some other projects. Also, please let me know which snake oil salesman (forex seminar seller) is correct as some swear by GMT for pivots yet others swear by NY for pivots, ADR, MA, and a few dozen other indicators. The same for the previous high, low and close. To the best of my limited knowledge there is no universal agreement as to which time zone is the "correct" one to use.

 

Very true, but I follow industry standard Pivot which is calculated based on NY close at 17:00 EST. It make sense for fx market started from NZ/AU and travel to EU and finally end in US. So broker with GMT offset +2 (their market watch window read 24:00 at NY 17:00 EST) can use standard pivot indicator without GMT offset

 

Here is Pivot indicator with GMT offset setting that I find but caution pivot calculation only go as far as H1 timeframe correctly

 

http://www.4shared.com/file/-vA4q-7u/Pivot_GMT_offset.html

 

N.B. This indicator is written for GMT+2 broker so people with broker GMT offset +2 such as FXDD should put value 0 in the GMT shift setting.

Edited by PIPHORE
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