Can someone tell me how to place the pivot points on the Oanda FXgame? They seem rather generic. I have used them on the previous day high but I am not sure that is so accurate.
I don’t think Oanda is set up so great for pivot points. I know there is a button just above the chart that says ‘draw advanced trendline’, and one of the options is to make pivot points- it doesn’t get me too excited though.
I would recommend just going back to the babypips school chapter about pivot points and copying the formulas and figuring them yourself. I did a excel spreadsheet with the formulas embedded so you can just plug in the high, low, and close and get the pivot points. It’s nothing fancy, but I can try to post it up here if you’re iterested. I just use that then go in and put in my own horizontal lines for the day (or whatever time period) myself. It’s worthwhile.
Yes that would be great…also I have a question. Is it really necessary to place stop losses? It seems that if i don’t the trend goes back up and I would have never took a loss. Know what I mean?
Stop losses are not necessary! However if you want to keep your money then they are manditory. It’s kinda like sex without a condom. It may not be needed everytime but that one time you need it your glad you have it.
Sorry, but I guess Babypips doesn’t support uploading an Excel spreadsheet (it’s nothing special or that you can’t do just with a calculator).
As for the no stoplosses, I think that’s a very interesting idea. Like Bazooko said, there is always the potential of a big, bad trade happening. I think most people here would rather cut their losses quickly and move on than wait for what could be a VERY long time for the trend to come back their way.
Could someone please help me with drawing pivot points in Oanda? It calculates them automatically, you just have to set the starting and ending point. And that’s what I’m not sure how to do. Should I use NY’s closing time as a start?
The “Tools” tab of the BabyPips site had a Pivot Point calculator on it. Plot in your data & it’ll generate your levels
There are various ways of plotting it but it is usually NY close but each to their own.
I use Oanda but I use MT4 & an indicator to plot it & I then add those levels to MT4 app on my phone & iPad just by adding horizontal lines.
Hi,
I’ve been trying to work from baby pips to Oanda platform (not MT4). but when I access the Pivot points they don’t come over the full screen as they do on the Baby Pips. There are just four lines with very little between them. There are two options and the pivot points in Add Study come as lines flowing over the candles, and as I say the other option on the top right does not seem to do much or give me an option to enter info.