Pivot Breakout Trading

Beginner Questions
1

Hi Guys,

I recently came across Greg Seckers ‘19K in 4 minutes Pivot Breakout’ video on YouTube, and was impressed with what I saw. If you haven’t seen it, google it, it’s worth a few minutes of your time. I’m unable to post a link to it as I don’t have enough posts.

After some investigating and testing, I think I have worked out how and what he does in the video.

I would like to know if any of you have actually been to the �5K Ultimate FX Pivots seminar he is promoting, and if you are still using what he taught you in your every day trading, and your thoughts and opinions on him and his methods.

It would also be good to hear from people who have dealt with Knowledge to Action before, with either good or bad experiences.

Regards

Pivot Trader

2

Hi Pivot Trader, I have been on a 2 day course costing �2,300 (around $4000) with K2A and I feel like I was mugged. I would have been better off keeping the money in my pocket and learning from the free websites on the Web (BabyPips and FXStreet to name 2), but I found out about these too late. As for the 19k in 4 minutes, I suspect there were several attempts before the right result came along. And anyway, anyone who knows about Pivots will know they are very strong support and resistance. There are a few free recorded Webinars on FXStreet which will educate traders about the effectiveness of Pivots.

Regards,

Dudley (Manchester, England)

3

good god man, search this forum and forexfactory for this type of strategy - tons of posts and threads. d.

4

Hi Dudley,

Thanks for your view. Sad to hear you feel mugged, hopefully you’ve got it all back and more from winning trades :slight_smile:

Regards

Pivot Trader

5

Hi Dobro,

Thanks for your concern, but if you read my post properly, I was specifically asking for views and opinions from people who have ACTUALLY BEEN to the �5K FX seminar.

I can assure you I have searched many forums for information on said course, but I haven’t found many people saying if it’s good or bad.

So, unless you have been, or have any useful info on it, please find another thread to post on.

Regards

Pivot Trader

6

Sounds like you care more about promoting the course than actually getting feedback for it.

I for one would also care more about getting free information than paying over $4k for it.

7

We don’t need to have been to the seminar to tell you it’s a scam… :slight_smile:

If you knew how to make “19K in 4 minutes” then why would you waste your time giving seminars for a measly �5000?

Even if 50 people pay 5000 an hour for the seminar that comes to a bit over �4000 per minute for your trouble… Why not stay at home and make 4750 per minute trading? :smiley:

In case you’re not picking up on my sarcasm what I’m saying is that his seminar is a load of crap. If it wasn’t he would be trading it, not wasting his time selling it.

8

Pivot Trader,

I am now slowly learning the intricacies of trading FOREX, but have not yet made up for my foolishness of paying my hard earned cash to K2A. I feel very angry with myself for falling for their sales pitch. I would like to echo the views of the other respondees to this thread to keep your money in your trading account and learn from the vast resources on the WEB. And there is no better starting place than Baby Pips.

Regards,

Dudley

9

I certainly will. d

10

mastergunner99, I have merely asked people for their thoughts and views, if you think that’s promoting it, that’s your problem. I too am after FREE information, which was the point of my post in the first place.

phil838, I think screaming SCAM, and a load of CRAP bla bla bla, is a bit harsh, when you haven’t been or know anything about it.

I’ll say again, for those of you who have difficulty reading…

[B]I am interested ONLY in people’s views who have previous experience[/B].

So, for those of you who have posted, or are thinking about posting in the future, but don’t have a clue what they’re on about, thanks for the interest, but your points are as useful as a blind mans sunglasses.

It does make me chuckle how many people on this site, have an opinion on something which doesn’t concern them, and have to add their 2 cents. I guess some just love to collect post counts or have nothing better to do…

Dudley, thanks for sharing your experience.

11

[U][B]Pivot Breakout[/B][/U]

[U]The system:[/U]
Pivot breakout system is fundamentally a simple intraday breakout system for E-mini Futures.

Pivot points for this system are calculated based on the average of the [B]last three days.[/B]

Entry points in this system are S&R lines R1 and S1 [B]if[/B] broken. The position is closed at the end of the day.

[U][I]The rules[/I][/U]

Enter Long:
Cross(high,pivot*2-low,1)=1

Exit Long:
0

Enter Short:
Cross(low,pivot*2-high,1)=-1

Exit Short:
0

Definitions:
calc high: Comp(#(Ref(high,-1) + ref(high,-2) + ref(high,-3))/3#,#t#);
calc low: Comp(#(Ref(low,-1) + ref(low,-2) + ref(low,-3))/3#,#t#);
calc close: Comp(#(Ref(close,-1) + ref(close,-2) + ref(close,-3))/3#,#t#);
calc pivot: (high + low + close)/3;

This system was not designed for FOREX trading…:smiley:

12

Hi Cas,

Thanks for an attempt at a constructive post, however, what you’ve described there is nothing like the same pivot breakout system I’ve been talking about.

In the video he’s using Daily Pivots, just from the previous days High/Low/Close, and I have checked this by backtesting it.

He is also using a different way of entering. Price has to do 2 things in particular around the level, not just going long or short on the break etc.

Maybe you should watch the video, and then you will see what I mean.

Regards

Pivot Trader

13

Hi Pivot Trader,

Well, that Pivot Breakout system I have described was the one I’m aware of under that specific name.

That means he is using pit pivots as pit traders and hedge funds doing for ages.

Test and bounce S&R lines aka Pivot Points before entering.

I have said this once before in this forum. People seem to put new names and re-packing systems, strategies and so on that have been around for ages.

There is nothing wrong with that, don’t get me wrong. But it’s not like the wheel has been re-invented.

If you’ve been in this trading business long enough you’ll find that there is hardly anything new under the sun…just little variations and personal touches. :smiley:

cas

14

Hi Cas,

There are a few Pivot Breakout systems doing the rounds, however, none that I have found so far are the same strategy as this.

If there are enough poeple interested I will start a thread in the Free Systems forum with the basic nuts and bolts strategy I think he’s using, as it sounds like nobody here watched the video, and certainly didn’t try and figure out how and what he was doing.

You can all add your views and ideas to it then, and maybe help make the strategy better and a finished article.

Anyone who is interested, leave a post if you want me to do it, if not, I won’t waste my time.

Regards

Pivot Trader

15

Hi Pivot Trader,

As a relative newbie (10 weeks trading FOREX) I would be interested in your ideas on Pivot trading. I have been looking at the main daily Pivot point over the last 2 days on Cable (the only pair I trade), and price has behaved exactly in the way CAS described it. So, please would you start a thread that BabyPippers can hopefully learn from.

Regards,

Dudley

16

Guys the UK Financial Services Authority (the UK government regulator) has issued an alert about Knowledge to Action saying they are not regulated and are targeting UK investors.

Its one thing for a bunch of guys on the internet to say something is a scam its a totally different thing to actually get an official alert about a company.

fsa.gov.uk