Trading the Pivots

I just bailed at 1296.25 for a .75 cent loss.

No big deal, If I'm in a trade for 30 minutes and it is going nowhere, I get out.

There's always going to be another one.

 

95.50 was a clear next support line on daily charts, nothing to do with Gary apart from him being right at pointing out that level, you should know this by yourself, if you study daily charts. Resuming short soon by the looks of things.

 

This is the classic pivot point system with the failure trades in TradersStudio.

' TradersStudio(r) (C) 2004,2005,2006 All Rights Reserved
Sub IntraDayPivotSys()
Dim YestOpen As BarArray
Dim YestHigh As BarArray
Dim YestLow As BarArray
Dim YestClose As BarArray
Dim S1 As BarArray
Dim S2 As BarArray
Dim R1 As BarArray
Dim R2 As BarArray
Dim MidPoint As BarArray
YestOpen=OpenD
YestHigh=HighD
YestLow=LowD
YestClose=CloseD
MidPoint=(YestHigh+YestLow+YestClose)/3
R1=(2*MidPoint)-YestLow
S1=(2*MidPoint)-YestHigh
R2=MidPoint+R1-S1
S2=MidPoint+S1-R1
If Time < TimeSerial(15,0, 0) And TradesToday()<2 Then Buy("R2BuyBreak",1,R2+getactiveminmove,Stop,Day)
If Time < TimeSerial(15,0, 0) And TradesToday()<2 Then Sell("S2SellBreak",1,S2-getactiveminmove,Stop,Day)
If MarketPosition=1 And TradesToday()<2 Then Sell("FailSell",1,R1-getactiveminmove(),Stop,Day)
If MarketPosition=-1 And TradesToday()<2 Then Buy("FailBuy",1,S1+getactiveminmove(),Stop,Day)
ExitEOD("EndOfDay","",999)
End Sub

 

hahahaha, I was referring to the comment he made about the small intra-day ranges, not reading the charts.
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be carefull that short doesn't get squeeeeeeeeezed!

see you at the close!

JJ

 

Okay, reshorted at 95.50, but I'm using a close stop of 96.50.
-
If it goes, great...If not...small loss.

 

Er, thanks Murray.

If you're giving the service away for free, count me in.

Otherwise, this is freeshare, not looking for the sales talk.

Best Regards,

Jimmy Jam

 

Bailed on half with 1 point and moved stop to break-even on the other half.

If it goes great...If not....no biggie.

 

Out of half of a half at 93.25 as we hit S2.

Will trail my final quarter position at previous 5 minute bar high.

So far, half position +1.00

quarter position +2.25

Prior trade: full position -.75.

 

I was carefull, thank you. I doubt I will see you at the close now, flat here.

 

Dude, what's with the tone?

I thought we was buds. :eek:
***
On a more positive note, taking a page out of Don's book on keying trades off of R2 and S2, let's see if S2 holds the line.

Later,

JJ