Mr.Marketz, Really thanks for your willingness to share. Looking forward to an interesting trading introduction. Hope you will shed a new light in most traders' confused trade experiences.

Very interesting approach! I would like to ask about your definition of "pivot break" - are you talking about "ordinary" pivot points or do you have some other definition of pivots? (this might be a stupid question but looking at your charts, one of the pivot lines is not straight)

cheers and thanks for a great thread!

edit: another question popped to my mind, not sure if you want to answer this so feel free to ignore it - is this the same system that you have automated?

Mr.Marketz, also please explain what you mean by 1 minute pivot and 15 minute pivot or pivot break? Are you refering to the hourly pivot line?
Or could you please attach the 1m and 15m pivot line indicators? Thanks.

I updated the 3rd and final post. From this point on it's all open discussion.

Mikkom and Sivach,

By pivots, I mean turning points in price. Not daily pivots or S/R lines. Pure price action breaks, fellas. Take a look at those chart examples again...

I went through the charts and what I could assume from there is that you mean the absolute tops/bottoms of the price waves? Am I on the right track here?

That's correct, Mikkom.

Sorry Mikkom,

I missed this question from a previous post. The answer is, no. I spent a fair amount of time and resources developing an automated strategy for pull backs, and such. At best, the results were break-even, or slight gains (usually over an extended period of time). In either case, I never felt satisfied. With the strategy we're discussing in this thread... you need a human touch. There's a lot of things that I have not covered here, simply because it would be like writing a novel. Here's an example. You'll eventually start to notice the type of effect price momentum has on your setups. By this, I mean the actual speed of money flow and profit taking. Then the time of day becomes important once that's figured in, as well. There are an infinite amount of variables that will affect ones decision to get into a setup. A lot of them might have nothing to do with the market at all. I can't expect a computer to have a moment of divine intervention, or a gut feeling. Both of those elements will be your greatest tools once you've spent enough time studying the setups.

The EA I'm using now utilizes a different methodology, but its development would not have been possible without the market theory I've outlined in this thread.

Hi Mr.Marketz - what a refreshing post - thanks. I am interested in understanding a little more about "watch for (and become familiar with) setup failure patterns…" Any advice?

Hi MM,

Congratulations,IMHO this is an exceptional thread that will benefit everybody who takes a few hours to simultrade it on fast visual tester mode and ingrain the mechanics.

Two questions,regarding your following comment QUOTE " Keep in mind that if your first order is down 20, and you add your second (and final) order… you will only be able to sustain an additional15 pip move against both of your positions before the SL is activated.".........UNQUOTE
I understand then that,if that were the case,the stop will not be 50 pips from entry but (stop distance=50 pips/number of positions.... from average cost)..Am I right?...And,10 pips TP,then,would it be from average cost too,or from initial entry?

Keep posting Man(I don`t want to "give" you another nick because fxbs could get angry at that and steal my wallett again )..you are a well of wisdom.

Regards
Simba

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