Hi,
This is probably one of the best articles on using pivot points to trade forex pairs that I’ve seen in a long while. Enjoy.
Using Pivot Points In Forex Trading
I’m personally not sure that I agree with the statement made that pivot points tend to work better in forex trading but that’s just me!!!
Regards,
Dale.
Wow Dale…lol…your timing is uncanny! I’m just reading his book “Sentiment in the Forex Market” and just started reading that chapter…which is word for word used in that article.
Actually lately I’ve been reintroduced to pivots by a member named InnerCircleTrader who started a thread on a method that incorporates them. Apparently he is very successful. However, they are used in conjuction with S&R lines, fibs, and market structure, all to detect what “smart money” is doing and following that lead. Interesting stuff. 
Can you please tell me more about using weekly pivot with RSI. I mean we will be buying above the pivot when RSI is above the 50 level? Is it something like that?
its like a map, follow ur chain of thought
see how far u can go
No can tell for sure what are the Pivot levels since pivots are changing on a daily basis. So you will need to see past days data to ascertain what is the daily pivot
[QUOTE=“dennis14685;484483”] trade weekly pivs, forget daily. Add rsi at 5 then your trading with the fed…funny how everyone overlooks the most important things in trading, feeling generouse today. All the pivot threads are the least
hits…hedge funds and central banks trade them…so simple to. i TRADE EM.[/QUOTE]
So you are saying the Federal Reserve is sitting there with a chart open with weekly pivots and an RSI at 5 and making active trades based on this… Huh??? Where did you get this idea from…
[QUOTE=“dennis14685;485290”] profits over 15 years[/QUOTE]
Lol that doesn’t answer the question… Not even close
[QUOTE=“dennis14685;485294”]
it will if you open ur charts[/QUOTE]
No… What you are saying is that the Feds directly trade the forex market (direct intervention) … They have only done this TWICE from August 1995 through December 2006… And it was not because of any combination of weekly pivots or RSIs lol…
nope you said that, your way of…a little bit more open thought then just maybe you can quite your day job…
[QUOTE=“dennis14685;485296”] nope you said that, your way of…a little bit more open thought then just maybe you can quite your day job…[/QUOTE]
[QUOTE=“dennis14685;484483”] trade weekly pivs, forget daily. Add rsi at 5 then your trading with the fed…hedge funds and central banks trade them…so simple to. i TRADE EM.[/QUOTE]
“Your trading with the fed” … This implies the “fed” is trading this way… So you said that… And no they most certainly do not.
Also “hedge funds and central banks trade them”… Again stating that central banks (including the feds) trade the market like this… And no they most certainly do not.
[QUOTE=“dennis14685;485309”] lol you did not finsish baby pip school did you, oh heres a post from pre school.
Professional traders and market makers use pivot points to identify potential support and resistance levels. Simply put, a pivot point and its support/resistance levels are areas at which the direction of price movement can possibly change.[/QUOTE]
Yeh “professional traders and market makers” are not the Same as the Federal Reserve or central banks…
http://www.newyorkfed.org/aboutthefed/fedpoint/fed44.html
If you want to read about the scope of the Feds using weekly pivots and RSI to trade the forex market lol… NOT
[QUOTE=“dennis14685;485314”]
never said they use rsi, rsi is intended for guys like you to get your bearings pivots are for us pros[/QUOTE]
They ain’t using weekly pivots either…
[QUOTE=“dennis14685;485314”]
or do you want to enlightern me on your candle stick patterns lol. Or shall I enlightern you how market makers love your entries. Or do you call consolidation consolidation? when actually its accumalation and distribution before profit relseas phase, what is it with you, dont you wanna learn, or do you have to defeat yourself as the market has bread into your lonf term memory severe loss. Short term memory, is what yyour playing now. mmm, i wonder if the Hedge funds are looking at a dip to follow a trend. Surely thats just accumalation to trap the trend followers so we can take profit on the others side from weekly S1 to Weekly mid point…mmmm this is kind of do the newbie time again[/QUOTE]
It’s pretty obvious you have no clue regarding the basic operations or purposes of central banks lol… cute
but you only started trading part time from 2006…
[QUOTE=“dennis14685;485324”] thats correct, Forex part time in 2006 prior to that stocks and options and commdities gold and cotton[/QUOTE]
I bet the central banks are REAL active in the cotton market… Must have been where you gained your hidden knowledge about their secret practices of using weekly pivots.
Is that you banker?
You have my sympathy arguing this kind of issue with many babypips members (I have long since given up). Many of them honestly believe that central banks are out there hunting retail stops, and the Illuminati and smart money are behind the moves to stop them out of $10. These same babypips members believe that the market moves are 100% driven by speculation and the Illuminati hive mind and NOT overseas business transactions. This same Illuminati behind the market moves is such a secret and hidden society that it trades off incredibly commonplace tools such as pivot points and fib levels.
Its actually astonishing how people think the above.
(warning there is a considerable amount of mockery in this post)
yes i know i only frequent this site becuase of this sort of stuff on ocasion, there so funny. Total wanabie traders.
[QUOTE=“JackMarkets;485330”]
These same babypips members believe that the market moves are 100% driven by speculation and the Illuminati hive mind and NOT overseas business transactions. [/QUOTE]
Nailed it…
[QUOTE=“dennis14685;485344”]
not speculation is it its a buy in a place that evryone basically sees eye to eye with…so you lost it…
Forex Investor
Please find my managed account program as follows:
goes back years
To Expats who want to invest in Forex
Hi my name is Dennis Sherman from Welwyn Garden City in the UK, I have been trading Forex since 1989 and moved here to Manila Philippines last September 2005. Im a home trader and am looking for investors in order to basically increase leverage and earn more money. I have outlined returns below, if your interested we can meet up if your in Makati for a chat. My email is <[email protected]>.
RE: Forex Managed Account
The following Forex Managed Account program allows the client to have a diversified exposure to Forex by allowing me (Dennis Sherman) as an experienced money manager to trade in the foreign exchange market on your behalf.
Currency trading can offer enhanced portfolio performance under all market conditions as Forex provides both sell and buy opportunities. The following table outlines investment equity and monthly return less my fees for managing the portfolio.
Equity, Fees & Profit Returns
Investment Equity USD Investment Period 12 Months*
Equity Your Return Monthly
$100,000 $2,000
$200,000 $4,000
$300,000 $6,500
$400,000 $8,000
$500,000 $12,000
Deposits: At anytime. Deposits received will be invested within the Foreign Exchange market on the next calendar month or 15 days from deposit receipt.
Monthly Net Return to Client: Net Return will be paid to client on a monthly basis via bank to bank transfer. The amount will be wired by the 5th day of each calendar month.
Withdrawals of Equity: Return on equity is locked into the capital being invested within the Foreign exchange market over a minimum period of 12 months. Therefore after the 12 month period has expired… Notice of thirty (14) Business Days is required for any withdrawals. This will enable me sufficient time to close out floating trades and wind down the account. Or alternatively the client can request continuation of the trading plan for an additional 12 month period.
Fee Structure: no fees are applicable apart from the monthly brokerage fee which will be deducted from my earnings. What you gain is as outlined within the above table.
Stop Loss. Appropriate money management will be adhered to at all times by using Stop loss on all trades and low risk lot sizes. Negative trades will be closed out within a 20 pip range and profits will be left to run.
Please let me know if you need any further information, A trading plan/strategy of the market and 3 month forecast for USD/JPY EUR/USD can be forwarded upon your request. However the information above I believe is sufficient for now until things move forward a little more.
Best Regards,
Dennis Sherman[/QUOTE]
Is this another one of Aaron’s accounts…