Forex rebates on every trade - win or lose!

Preferring it above 2.02 to start the week? after starting the week to the upside.
Line in the sand might even be something as simple as which side of the daly 200ma and weekly 50ma it wants to stay on or change to?

hi hilary

I am a very delayed "here to". Have not looked in for weeks as I am being distracted by golf and my wife's new computer. Just as well really because I was going to sell cable

Bob

Well cable's looking like it's ready to push up again once we convincingly break $2.02. I'm long with a really tight stop.

Hi Guys and Gals,

Does anyone on this thread have any recommendations for Forex Pivot point numbers based on GMT?

Try this link, John.

I've seen another site somewhere that tells you what the pivot points are each day for different pairs/crosses. Sorry, don't know where I've seen it, but I'll post it up for you if come across it.

Otherwise, if you use MT4, I'm pretty sure that I've seen somewhere a pivot point custom indicator that (I would guess) will probably draw the lines onto your chart.

Stopped out of that long for -25 in the end, also a loss on a Euro Jappy so not one of my better days :-(. Going shopping with Mrs Clearly tomorrow so having a day off trading.

some pivots here

and here
scroll down a bit for tech table,
a couple of good sites for forex,
and research tech here
prepared by Nicole Elliott

Thanks, appreciated.

Just returned this evening after long weekend away to find the remaining half of my long trade closed out at 2.0191 for a 179 pip profit. Well pleased !!
See most of today was trading in a pretty tight range until late sell off.
Still think it is going to go higher but will wait and see how far it reacts tomorrow before deciding what to do.

John,

I came across a few custom indicators of Pivot Points for MT4 if you're interested.

This is an image of what they look like on a chart.



Personally, I think the painters need to change some colours (background and candles), then it might be a bit easier on the eye. At the moment, I don't think it's particularly clear.

This particular indicator can be downloaded here.

There are also other Pivot custom indicators available here.

Long cable at 2.0105. Looking for it to return to yesterdays highs, though I'm keeping a close eye on it to see how it reacts over next hour.

I see cable as falling now on the 4 hour chart and I suspect that the world, his wife and their pet poodle are all going to be looking to sell into this rally. The oscillators on the 30 minute chart are rising with the rally, and I suspect they will give a very good pointer of if and when to sell.

Obviously this isn't an exact science and it is entirely possible that they will just carry on going up.

I see that we've had just a pullback on both the hourly and H4 timeframes which pullbacked to nearly the 38.2 fib retracement of the last major move. Daily trend is up so I think this move has potential to go as high as 2.05 (next week) though I'll see how it reacts around the 2.02 first. Guess that's what makes a market - differing views!! I think the next hour is crucial though so I will be monitoring closely.

Well done FF. I didn't expect to see it back at 2.02 today. Not that I'm complaining.

I am a bit thick but with the pivot point (or any other) download for Metatrader how do I actually get it onto the chart and then can I have it on the chart or not as desired.
Also can I get it onto Water House and/or ODL version rather than Alpari?
Any help appreciated

hodgins,

You will be able to use it with any version of MT4. First and foremost, you will need to save the downloaded MQL4 file to the proper folder which will be something like

C:\Program Files\ODL MetaTrader 4\experts\indicators

Then shut and re-open your version of MT4. If you then go Insert>Indicators>Custom (or just use the icon), you should be able to add it and change various properties. You can remove it at a later date by right clicking on the chart and then clicking indicators list to see the indicator that you wish to delete.

Thanks Hilary.

Just back from Gym to see half my position closed out for a 100 pip profit. Got to the 2.02 level a bit quicker than I thought, though I was expecting it to take yesterday's highs out but not quite made it. At least yet -maybe later, though it's in a strong intra day pullpack now. Rest of position to breakeven and I will look to renter half a position at around 2.0150ish if it gets there.

Closed other half manually at 2.0135 for 30 pips. See how it reacts to the US news that was pretty much as expected before deciding which way to play.

FF,

Out of curiosity I Googled your moniker and found an Aussie website for a wealth creation life coaching wotsit. The head honcho seems to have eaten quite a few pies.

:o)

Hi Hilary,

Amazing. Not seen that face for a while!!

My moniker does actually derive from that Aussie organisation. I used to live in Australia and attended several of their advanced week long investment seminars around 1998-2000. I always have a soft spot for them as they really inspired me and spurred me on to generate some real wealth creation strategies that worked for me, particular Property Investment, Share trading and Option Trading, hence the moniker. It always reminds me of some of the key principles they taught.

I got really good at Option trading and loved the high leverage but with minmal risk if you did it the right way, so you could get high returns in such a short space of time. When our family returned to the UK in 2001 for a variety of reasons I never got back into the Option Trading side but recently I've started doing it again in the US Markets.

I was thinking of starting an Option Trading thread to see if there was much interest in it from anyone, though I must admit I am becoming increasing fond of the Forex market over the last year or so as well. Still learning all the time, though like any market, good technical analysis skills coupled with strong money management are the keys to success. I do find though that the Forex market can get spikey at times so you have to be careful with placement of stop losses more so than some other markets and give any position a lot of room to 'breathe' at times.