+285 Points in 8 DAYS !!!

Hi,

This is my first of many posts. I have developed a system over the last few weeks (centered around Pivot points). I am following the Dow, CAC 40, Dax and FTSE. In just over a week I'm + 285 points with no losing trades it sounds to good to be true so I'm posting here to see what you think and if you can see any problems with the system.

Positions for Monday 19th

FTSE.......Bought FTSE daily rolling cash with spread for 5350 (BOUGHT LAST THURSDAY)
Stop set at 5400 (50 Points locked in)
I will have a sell order at 5371 to short the market


DAX..........Bought DAX daily rolling cash with spread for 4916 (bought last week)
Stop set at 4951 (35 points locked)
Sell order at 4907 to short market.


CAC 40........Bought CAC 40 daily cash with spread at 4479
Stop set at 4497 (18 points locked)
sell order at 4478 to short market


DOW..........Bought DOW daily with spread at 10577
Stop 10627 (50 Locked)
sell order at 10556 to short market


I will try to update every day, Please feel free to find any problems.......

Please explain the system with pivots then I and others can comment.

R U trying 2 sell something ?

No not trying to sell anything.

I use a charting programme to give me the pivot points and support resistance levels for the next day, I use these to exit a trade or buy into one. I've back tested this on the FTSE, DOW, CDC and Dax with over a 90% success rate.

Basics are I set a buy order for when the index crosses the Pivot and will set stops at the resistance levels to lock in profits, I will then wait for the next signals. Works both long and short.

One problem I'm working on is setting the first stop level when I first enter. I'm currently not using a stop till the end of the first day of the trade.

I don't day trade I make all the decisions with end of day data.

I don't day trade I make all the decisions with end of day data.

Click to expand...

How do you establish the pivots without intraday data?

I use the daily data but I get this at the end of the day

You need to be more clear to what you are doing. are these so called pivot point, based on the floor pivots?.Also you dont use stops on entry.um? room for some big losses.

If you do use floor pivot, what pivots point do you go long. is it R1? R2? or something else

Spitfire

If you think you have an edge and it is working then why worry what anybody else thinks?

I go long or short at the pivot not the r1 s1, I'm not sure as fairly new what a floor pivot is. As for the stop at the trade entry I will need to set a stop fairly close to the pivot to stop any big loses.

As for the other question I'm posting this method as any feedback will help me fine tune this and maybe help others.

So you are looking at the Mid pivot. and that would be 10603 based on the Dow cash, for tomorrow's trading. Is this correct?

My software is giving the pivot for the dow at 10554
I went long on the dow last week at 10577 with my stop at 10627 (this is the r2)
I will go short at 10556

pivot point

LevII said:

How do you establish the pivots without intraday data?

Click to expand...

Hope this helps.
CJIA

I've spotted a huge problem.... your system is 8 days old

I have developed a system over the last few weeks

Click to expand...

sounds to good to be true

Click to expand...

I'm posting here to see what you think and if you can see any problems with the system.

Click to expand...

.

First of all Thanks to introducing these different pv point to us.
I have dont the calculations and will see how these work
So for the dow the pvp are 10544....If I am not mistaken right......

does it mean anything if I post " I have made xxxxxx " ?

why can't it all be made up ? where's the proof ? and what was the risk amount ?

Do people not care about real returns ?

what is so good about 50 odd points ? I have made over 300 at times .

It seems people rather the fantasy than real acheivement - jealousy perhaps ?

Stockjunkie said:

does it mean anything if I post " I have made xxxxxx " ?

why can't it all be made up ? where's the proof ? and what was the risk amount ?

Do people not care about real returns ?

what is so good about 50 odd points ? I have made over 300 at times .

It seems people rather the fantasy than real acheivement - jealousy perhaps ?

Click to expand...

There are some people that try to help others in T2W.
There are some that are positive who help others win and some who are negative who love 2 see others loose.If you cant help then atleast you should not post on these forums....and I think most moderators would be in agreement...

It is your choice to follow or not to follow..
It is a stratergy to adopted and not implemented unless profitable
If you trade based on a post without backtesting it then obviously you need to learn quite a bit more............................ :!:

CJIA.....
Please do not mind comments like those
Keep posting your results.....
:cheesy:

rav700 said:

First of all Thanks to introducing these different pv point to us.
I have dont the calculations and will see how these work
So for the dow the pvp are 10544....If I am not mistaken right......

Click to expand...

I make the Pivot Point for the Dow to be:
10554 (High 10569+Low 10526+Close 10568)=31663 / 3
Support to be:
10539 2x10554-10569
Resistance to be
10582 2x10554-10526

CJIA.....
Please do not mind comments like those
Keep posting your results.....

Not really bothered what people say only what the the market is telling me.

Regds
CJIA

Ravi ,

Please don't make unjustified accusations , I have published many articles here which can most certainly help you if you only look for them .

Since you are obviously inexperienced at this game , how would you know what is really helpful and what is not ?

It would be best for you to consider all comments from experienced and 6 X capital winning and ex FUND traders and like me .

I cannot say anymore but if you want to know more PM me .

Stockjunkie said:

Ravi ,

Please don't make unjustified accusations , I have published many articles here which can most certainly help you if you only look for them .

Since you are obviously inexperienced at this game , how would you know what is really helpful and what is not ?

It would be best for you to consider all comments from experienced and 6 X capital winning and ex FUND traders and like me .

I cannot say anymore but if you want to know more PM me .

Click to expand...

Thanks For your help
I apolagise for the comments