November 21st, 2009Forex Pivot Point Trading
Learn how to make money trading the foreign currencies using Pivot Points
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Learn how to make money trading the foreign currencies using Pivot Points
November 21st, 2009 at 4:36 am
If you also use chart patterns in addition to using pivots.. it can really help you to see breakouts and where to set your stops and limits.
November 21st, 2009 at 4:54 am
Most professional traders use Pivot Points. They are heavily used and its common knowledge how they are derived. Search for pivot point formula in Google and you’ll find many explanations of this. BECAUSE they are so heavily used by the pro’s and because this technique uses sound money management techniques, ie super small losses when wrong, it WORKS. You can get our TopGun software free at our website.
November 21st, 2009 at 5:40 am
you did not explain how you arrived at your support and resistance levels?
its easy to draw lines in hindsight to support your theory.
with out an explanation as to how you arrive at your support and resistance levels it will not make much Sense!
November 21st, 2009 at 6:02 am
First its impossible to answer this question with the data you provided. Everything in trading is based on CONTEXT. Which pivot point are you referring to, the daily, weekly or monthly?
What we do is use our FX Multimap trend tool. If it is less than 20+ strength and going up to a RESISTANCE level pivot we will look to sell it. If FX Multimap is 30+ then we will NOT sell that resistance and in fact wait for move down to buy, expecting price to breakout through.
November 21st, 2009 at 6:36 am
What do you do if the price opens above the pivot (up trend) and goes on to hit the resistance point without hitting the pivot point. In that case what would you do?
November 21st, 2009 at 6:58 am
Hey, if you dont mind how do you confirm your signals using pivots? I mean, what do you look at when you decide whether the trade is going to be a breakout or a reversal? Good luck.
November 21st, 2009 at 7:02 am
I just started using a pivot indicator on my meta4 and already my trading has been looking better and I trade with a lot more confidence. Its like driving at night with or without headlights…pivot points really “light” your path! More accurate than stoch/MACD combo’s IMHO. Just yesterday I bought on a support and price soared over 100 pips up within a few hours. That was a mini contracy but a standard would have net out about $800-$1000 on that one with a $2000 account! Not bad .
November 21st, 2009 at 7:32 am
great training video for those looking to get better at forex trading!
November 21st, 2009 at 7:58 am
First we use another tool I haven’t even put on youtube called FX Multimap. We compare statistically every currency to every other currency. We then buy strongest currencies vs weakest! So if EUR is stronger than most others and USD is weaker we buy EUR/USD on pullbacks to fibs, pivots and use our trend capture line technique for precise entry. We then have tight stops and trail winning trades. The avg wins in most of our systems are 1.5 to 3x+ bigger than losses. That’s key to success.
November 21st, 2009 at 8:36 am
I agree, trading Forex for most new traders is NOT easy. The key to making money trading any market is not necessarily high win % but a high avg win vs small losses. You can be right 80% of the time and lose money or right only 40% of the time and make a fortune. Many of our systems are over 60% winning but what makes them profitable over time is not the win percentage but our trailing stop and FX Multimap technology keeps you in for the duration of the trend. Big wins/small losses!
November 21st, 2009 at 8:44 am
I’m want to start fx trading, how does a trader know when to use fibonacci, pivot or anyother tool? does it depend on currency pair or time level?
November 21st, 2009 at 9:25 am
I’ve traded Forex for a while and have seen many presentations, bought tons of books and signal packages claiming that winning in Forex is simple. NOT TRUE! Trading this market PROFITABLY CONSISTENTLY isn’t easy. Seeing what price DID after it’s already happened is much easier than projecting what price WILL DO to make a successful trade. I’m not saying this system doesn’t work however don’t expect anything easy in Forex. Any trader who’s had any amount CONSISTENT success will tell you that.
November 21st, 2009 at 9:48 am
Amazing tool…
How the support and resistance lines are calculated??
November 21st, 2009 at 10:32 am
Yes this is in our TopGun software. We also now let you adjust both line thickness and width of the screen you can view pivots. Now you can intuitively know if a pivot level is a Monthly Pivot, Weekly or Daily. The monthly’s almost always cause a bounce in the market, in other words most trades off monthly levels provide 30 to 50 pip moves. If you have an account at FXCM or FXDD you can get our software free if we are your introducing broker, costs you nothing and exactly the same spreads!
November 21st, 2009 at 11:29 am
I really would like to try your software, I just have a question. Those clear pivot point lines are provided with your software or does it comes with the chart you are using for the presentation? I am using FXCM platform and the pivot point indicator they offer isn’t an straight line like you are showing, it looks like the moving average indicator. Please, if you can clarify for me. Thanks.
November 21st, 2009 at 11:42 am
Yes you can get a free trial of esignal data from esignal DOT com and then go to our TopGun DOT com website and click free trial. Load our newest Multimap Scanner.aws workspace to see our newest and best currency meter. It will show you the strongest and weakest pairs and automatically links them to your charts.
November 21st, 2009 at 12:39 pm
I really like what I see, your software seems very good.
Is it possible to try your software with a demo account for one of your affiliated brokers?
November 21st, 2009 at 12:41 pm
I’ve used pivots for years trading the S&P futures, they seem to work even better in the Forex. Nice presentation.
November 21st, 2009 at 12:55 pm
this is incredible
November 21st, 2009 at 1:25 pm
this is an excellent presentation and is indicative of the expertise this man has to offer. I strongly recommend his system.
November 21st, 2009 at 2:02 pm
very good video