MY LIVE TRADING SYSTEM (pivot point)

[tutmosis]

one of my live trading system which i want to share
is my pivot trading system
is simple because i trade simple
i have one of the best rules of trading
following the trend
always 1% risk of the account

1-daily pivot

2-daily candle trend

example:trend now is down (eur-usd) so the order should be sell

so sell @ r1

stop @ r2

target @ s1

if order is not trigered,next day
"it hapens sometimes that order is not touched"

if order is trigered but no-one of stop or limit is touched we close position manually @ us session close "because we have to put next day order"

hope you like my post
see you @ my other live trading system

[jasper2603]

Thanks for sharing. What timeframe do you use?

[tutmosis]

only daily,i trade only daily

[tutmosis]

i see nobody is interested in this strategy
but spend a little of your time and make a manual backtest
and you will see...

[bestfx-trader]

example:trend now is down (eur-usd) so the order should be sell

so sell @ r1

stop @ r2

target @ s1

tutmosis,
how do you know the trend ?
And what time of the day do you enter ?
At GMT, trend on M5, M15, M30 and H1 may be up.
One hour later , the trend on all these charts may be down.
Five hours later, trend may be up again.
And 7 hours later, trend on all these timeframes may be down again.

So how and when do you "know the trend " ?

[stella]

what time do you place order ? it's 00:00 ?

[tutmosis]

always daily tf
so trend is more constant

i put the orders after us session close

so you need only for daily pivots and the trend

for someone who can't see the trend there are some "indicators"for trend"

for more question am here...dont hesitate to writte me

[jeremy]

Do you have a template you use to show pivots and were to place trades?


Thanks for sharing system - looks simple

[tutmosis]

that should be always SIMPLE
even everyone try to complicate it

anyway template is not required
because need only pivot points and trend of daily candle

very simple,very good to trade

[jasper2603]

tutmosis, if I put this strategie yesterday on the eur/usd, eur/jpy, and usd/chf charts it would be all losers. The trend as you said was down on eur/usd, but price went up yesterday. How do you prevent this situations?