Bollinger band trading with MAs

[AndrewS]

Have moved my SL inside my 1.6234 long and am happy to let it run. Having better luck on my long on GY at 143.88 placed around the same time.

One thing I’ve learned from you Robert, is, no matter what happens in the market, if you use your head, you still come out in the good, or at the very least, break even, by either working that stop loss like a king or not trading when you aren’t “feeling it”.

[TalonD]

well I closed my buy and did a sell and cought those pips going down, but ended up loosing some of them back.

[AndrewS]

I’m going with a further downward motion when consumer confidence data hits the wires, but like I said, he’s down in the polls bigtime.

[TalonD]

broke out below my triangle, daily s1 is 1.61787 about 40 pips away. I’m likein the down side.

[AndrewS]

broke out below my triangle, daily s1 is 1.61787 about 40 pips away. I’m likein the down side.

I always tend to do better gittin’ my bear on too. I wasn’t supposed to trade today, but I’d set a sell way up at 1.633 based on the Hour chart, but decided to set it at break even to stick with my no trading plan. Slippage got it. Had I set it up proper it would have had a 30+ pip stop on it. Could’ve been a nice little gain no matter how I played it out. Bedtime.

[system]

daily s1 is 1.61787 about 40 pips away.

That’s daily S1 for retail trader.

S1 pit trader see: GBPUSD PA bounced of a minute ago.

[TalonD]

That’s daily S1 for retail trader.

S1 pit trader see: GBPUSD PA bounced of a minute ago.

I see that bounce that happened. Is there a way for us retail traders to calculate the pit trader’s s1 ?

I know you mentioned it before but I didn’t get how to determine those levels, or is there enough information available to us retailers to determine that?

[AndrewS]

That’s daily S1 for retail trader.

S1 pit trader see: GBPUSD PA bounced of a minute ago.

What was it, because there was a big bounce around the 1.6198 area?

[system]

What was it?

1.6210

Looks like a lot of live trade trailing stops are history now. PA can go back to it’s dominant flow.

[AndrewS]

1.6210

Looks like a lot of live trade trailing stops are history now. PA can go back to it’s dominant flow.

Yeah, I also see that the bottom bollinger line on the 12(1.6216) and 4(1.6232) hour charts were there as well. I’ve never used S & R lines on a chart before, I’ve used fibonacci. I’ll have to get you to show me some time if you would. The pit trader S & R lines sounds like zero BS. Supposed to be laid down right now. catch you later.

[SanMiguel]

I see that bounce that happened. Is there a way for us retail traders to calculate the pit trader’s s1 ?

I know you mentioned it before but I didn’t get how to determine those levels, or is there enough information available to us retailers to determine that?

I have my S1 at 1.6212 based on NY close/start time for the pivots…that’s what a lot of people use if you google “EST vs GMT pivot points”.
Whether it’s right or not I don’t know but seems good for the last week or so…also on other pairs.

[John4pips]

Its all to be taken with a huge pinch of salt anyway… didn’t Nobel invent TNT and run a huge explosives factory.

Yes just picked it up… I’ll get back to you.

RC,
You are right. Alfred Nobel invented dynamites that kill people.

[John4pips]

I have my S1 at 1.6212 based on NY close/start time for the pivots…that’s what a lot of people use if you google “EST vs GMT pivot points”.
Whether it’s right or not I don’t know but seems good for the last week or so…also on other pairs.

SM,
How do you calculate pivot point for 1 hr and 4 hr TF ? I have been using price line to draw this for a while but after noticing what someone posted few days ago about pivot point,i think i prefer the manual calculation.Any help from anybody here will be appreciated

[John4pips]

Hey,
Well,I am not a fan of retarded W.(In case some folks who dont understand who W is.He is George [B]Walker[/B] Bush)

On economics data, i could not get enough data for retail sales as at this time.[B]But i was expecting an improvement in sales based on the little data i got. [/B]

See, Cash for Clunkers dont necessarily boost GDP overall.You know why? It is a defered sales. You retrieved money from 4th quarter to 3rd quarter and they called it sales.Cash for Clunkers would have been a success if it is sustainable for ,say, a year or 18 months to stimulate the economy and this in turn will have multiplier effects on the economy as a whole.
Obama economics team designed this stimulus to last for one year but they underestimated how quick folks could snap free money ($3,500 to $4,500) .
Congress originally approved $1 billion for this program but the money was quickly exhausted. Later, lawmakers approved an additional $2 billion for the program, intended to keep it alive through the end of the month. That money was borrowed from another stimulus program, a loan program for green energy projects.

When you stimulate someone to buy sometimes(e.g car) within a particular quarter,you are essentially retreiving money that was supposed to be spending in the future quarters to the present.That is not the best way to stimulate economy because it was unsustainable.
You should not be surprised that the sales of car would be flat in the quarter followed Cash for Clunkers.That stimulus money is prodigal.
Greetings.
John.

Did anyone trade this news? It seems my source of information is somewhat accurate lately.

[system]

Is there a way for us retail traders to calculate the pit trader’s s1 ?

Take Mon, Tue, Wed, Thu 5pm EST High+Low+Close.
Take Fri High+Low.
Take Sun 4pm EST Close. [B][U]NOT[/U][/B] Fri 4pm EST Close.
Also take Sun High+Low from 4pm EST [B]if higher[/B] than Fri High+Low.

Get yourself a Pivot Point calculator.

[B][I]Do not use fancy retail trader software because times are not Forex day. Same goes for daily / weekly / monthly Open candles.[/I][/B]

[John4pips]

Wow, thanks for clearing that up, without your expert advice me and countless others would be lost. By all means don’t get insulted by the experts here and leave. I for one will fall into a catatonic state and cease to function. Let alone trade currency. Thanks.

No problem.If you are interested in getting a snapshort of consumer sales before it is officially released,you can start to look at this site.ShopperTrak | Retail Intelligence | Mall Traffic Analysis | People Counters | Casino Retail Analysis | Foot Traffic Analysis

I will still provide information few hours before official release based on my own independent analysis to compare.
Hope this helps.
John.

[AndrewS]

Take Mon, Tue, Wed, Thu 5pm EST High+Low+Close.
Take Fri High+Low.
Take Sun 4pm EST Close. [B][U]NOT[/U][/B] Fri 4pm EST Close.
Also take Sun High+Low from 4pm EST [B]if higher[/B] than Fri High+Low.

Get yourself a Pivot Point calculator.

[B][I]Do not use fancy retail trader software because times are not Forex day. Same goes for daily / weekly / monthly Open candles.[/I][/B]

                                                                                     Can I ask how you came across these calculations? Not that I doubt them.

[John4pips]

broke out below my triangle, daily s1 is 1.61787 about 40 pips away. I’m likein the down side.

This is not correct.How did you get this?
Here are the correct ones

RR3 =1.6474
RR2=1.6409
RR1=1.6342
PP=1.6277
SS1=1.6210
SS2=1.6145
SS3=1.6078

[TalonD]

I have my S1 at 1.6212 based on NY close/start time for the pivots…that’s what a lot of people use if you google “EST vs GMT pivot points”.
Whether it’s right or not I don’t know but seems good for the last week or so…also on other pairs.

Take Mon, Tue, Wed, Thu 5pm EST High+Low+Close.
Take Fri High+Low.
Take Sun 4pm EST Close. [B][U]NOT[/U][/B] Fri 4pm EST Close.
Also take Sun High+Low from 4pm EST [B]if higher[/B] than Fri High+Low.

Get yourself a Pivot Point calculator.

[B][I]Do not use fancy retail trader software because times are not Forex day. Same goes for daily / weekly / monthly Open candles.[/I][/B]

This is not correct.How did you get this?
Here are the correct ones

RR3 =1.6474
RR2=1.6409
RR1=1.6342
PP=1.6277
SS1=1.6210
SS2=1.6145
SS3=1.6078

Thanks everyone. I was using Alpari metatrader demo with a pivot point indicator.
GMT + 1.
Obviosly not based on the correct times and so giving me incorrect pivot points !

[system]

Can I ask how you came across these calculations?

FOREX day is from 5pm EST - 5pm EST, Mon - Sun – Period.

The sixth FOREX day has 48 hours instead of 24 hours making it a full week with 7 days.

Any retail trading software who does not calculate data in accordance with FOREX day times is inaccurate and represents misleading data representation in form of charts from 2H up.

You can check for yourself coming Sunday.