tonights trades — right on time Nick...I was busy working on this post when you wrote. Yes you are right about EU and UJ. Here are my daily averages based on last weeks movement. EU 135.2 GU 172.8 GJ 194.8 EJ 158.1 UJ 101.1 The only two pairs ...

the Set and Forget Pivot Net system

for those using Oanda... — For those of you using the Oanda provided PPs. I wanted to let you know that I set the PPs using the daily chart view then go to the 1 hour view to get an accurate # reading to add my formula to. Thanks TheHenryFam ...

the Set and Forget Pivot Net system

breakout systems — these types of 'strategies' are some of the most profitable due to their simplicity. thanks for sharing I look forward to forward testing it. cheers

7am-9am Big Dog USD Breakout Strategy

babyboy and 555ngone — Thanks for your help guys. I'm still tinkering with the ST-Pivot Points indicator as I like how it leaves the past PPs on the chart for quick visual backtesting. I'm just using MT4 demo with Alpari ticks to run it on and ...

the Set and Forget Pivot Net system

bottom picking — yup we all know what you get when you try to 'pick bottoms'...a sticky finger. You're right to use a standard PP calculation. I'm just using 04:00 GMT. As my day's end and beginning. This system might be completely valid using ...

the Set and Forget Pivot Net system

Oanda PP lines — yeah the ones that you add via 'add study' are extremely UNuseful. They make a mess and look like cave drawings due to all the very sharp lines. My nice neat clean ones are provided via the 'draw trendline' tab. As pictured ...

the Set and Forget Pivot Net system

To determine the previous weeks daily average I take M-F ending at 00:00 EST HH minus the LL for each day and determine last weeks daily average. Then at 00:00 of the current week I see how much the pair moved for that day and compare it to last ...

the Set and Forget Pivot Net system

dead on — you are absolutely correct. I figure out how many pips the TP is first. Then multiply by .667 to get my SL. Then divide my SL number of Pips by my 1% I am willing to risk and it tells me how much each pip should be worth. And they ...

the Set and Forget Pivot Net system

close call — Hey Nick, No my EU did not get triggered. It was close though. That is why I give a few pips of breathing room away from the S1 and R1. As you can see from today and as I have witnessed in the past anything triggered after 10 AM ...

the Set and Forget Pivot Net system

slippage and huge spreads — slippage and inflated spreads are a threat to any system. this system, while it waits for breakouts, is usually covered by the market continuing well past the S2 or R2. Therefore the large spreads do not become much ...

the Set and Forget Pivot Net system

not a bad idea... — Using a rolling 5 day average might have something to it. It's worth backtesting at the least. For a while I had added the rules that if the previous day had touched either the S1 or the R1 then the next day was void, as ...

the Set and Forget Pivot Net system

thanks — Thank you. I was striving to find a logical and simple formula for a system. It seems sometimes in trading the obvious answers are staring us in the face and we complicate it for no reason. Here is a picture of what lead me in this ...

the Set and Forget Pivot Net system

oops — Thanks for pointing out my mistake. 4:00 GMT is correct. I was thinking of the time when the order is no longer valid. I will correct the time on the first post.

the Set and Forget Pivot Net system

last weeks average — I take the HH and the LL of the pair at 00:00 EST/4:00 GMT for the days M-F. I do not use Sunday's movement as it tends to be a market correction day or a low volatility day. It is very in consistent therefore I leave it ...

the Set and Forget Pivot Net system

for clairty — The only Pair that qualified for a set up tonight was EU. The Daily range was 126.2 and last weeks average was 137.9. For argument's sake I am going to post my numbers. I implore you to only DEMO these numbers if you use them at ...

the Set and Forget Pivot Net system

an answer longer than you bargained for — My pleasure to post it. Been trading it for 8 months. I started to come up with it when I noticed the correlation between a below average daily movement (usually the market waiting for news) and how ...

the Set and Forget Pivot Net system

Actually I have 8 months of backtesting results which were forward tested at the time. I'll post them soon enough. But I did backtest for 2 years previous. I just don't have those results to post as I did those manually on paper. As I mentioned ...

the Set and Forget Pivot Net system

BlueLACE?? haha... here are the results for the past month starting with week 7/28 Keep in mind I don't count pips but rather wins vs losses. All results are shown as though I risked 1% for a reward of 1.5% (This obviously only works with a set ...

the Set and Forget Pivot Net system

A pip here and a pip there — I have noticed that Oanda's pip range is usually a pip or two further than most brokers. Meaning a little higher and a little lower. But as I mentioned I look for a reason not to trade. So it might be a good ...

the Set and Forget Pivot Net system

looking ahead... — So far there are only 3 possible pairs available to trade tonight. EU GJ EJ The reason is because they have not yet violated last weeks daily average. EJ is getting close at 147.1, I have last weeks average as 150.1. I ...

the Set and Forget Pivot Net system