Advanced system #5 (Trend Lines Breakout System)

Good day Edward
I've been studing Forex for the last few months and I am stuggling to understand how the professional trades set up the following, I would appreciate if you could put the light on.

The subject is ----> Pivot Points:
1) According to my understanding different brokers have different time zones and that is why the pivot points differ from broker to broker. Question> Is this a problem? Does it realy matter what broker one use? Must I look for a broker that fit a my strategy? Or can I just press a button on my metatrader software..?

2) Does different currency pairs have different time zones that favours they pivot calculations?

3) From page 9 I notice that your using Oanda that calculate Pivots based on GMT-5. Is this a good time zone for all the ...USD... pairs? What about GBP and GPY?

4) The reason I ask all these questions is that I would like to incorporate Pivot Points into my trading but I would like to know what is the correct way to set this up. Like this lovely strategy presented to us, if I use the wrong Pivot I get a different answer....

If this question was already post somewhere in the form, please forgive me. Thanks for this GREAT site!

Kind regards
Axil

Hi Barry,

This means we won't have a Short trade today.

Regards,
Edward

what if there is no swing low for that period/......well?

Thanx
Barry

Thank you guys, I'm doing great!
I'm sorry I've lost the track of questions on this page.
I've been traveling a lot for the last three months, and while normally I keep reference about every single question that comes to this website, switching in between computers during the travel has made its toll.

To Jacek: checking 30 min charts should not ruin the strategy. It's a good method.

To the guy from India: I hope you were able to calculate the time, otherwise let me know what's your local time and we'll figure it out together.

To knoppix: I think the level of risk here is moderate-to-low: correctly anticipated breakouts (like with this strategy) are often more reliable then any other setups.

To Lino: although I haven't tried TD indicator for this particular strategy, I think it can be useful. Thanks Lino.

Best regards,
Edward

I hope everything is going well with Edward, he hasnt answered any questions in months! Best wishes to you Edward!

Hi Edward

I am going to be using the Tom Demark indicator for this strategy, i like the idea of trendline break at around london session.

Maybe others might find it usefull to identify proper drawings.

Cheers Lino

thanks for the strategy. breakout strategy work best but a bit high risk. I also like early bird strategy. the only problem is the stop loss.

knoppix

http://www.forexblogging.co.cc/

Hi Edward
Thank you for great site. Just one quick question about this strategy:
Would you ever go to 30m time frame to spot swings there or would this ruin the strategy?
Seems that if there is no swing on 1h frame 30m swings still give solid signals.
Thanks and best regards
Jacek

I think the user FaceReality has just answered your questions few comments above.

Edward,

i am from india, i am very much confused about timings like "from midnight to 4.00 am EST". how i need to calculate this time and in other strategy u are saying it as 3.00pm EST.

It's 11:00am in New york and 4pm in London. The difference still remains to be 5 hours.
It's EDT time in NY, you're correct.

hi Edward,

thanks a lot for replying! I think my software is following GMT timing since it has a difference of 8 hours from my time. However will like to ask, if currently it's EDT (correct me if I am wrong), do we use trade at 4 hrs later instead? thanks

Hi Tom,

Advanced system #3 (Neat entry: RSI + Full Stochastic)

and Trading method #1 (9 EMA Entries)

There are plenty of other great strategies on this website, many of them were contributed by our Visitors. I physically cannot test and trade all of them in order to pick and advice the best ones. So it would be at least irrational to state that my strategies are the best. I highly recommend that you continue looking through our pages, I'm sure you'll find lots of wonderful strategies for yourself.

Regards,
Edward

Hi Edward,

Thank you!

Along with Trend Lines Breakout System, which ones are your favorite strategies?

Thx.
-Tom

Hi Tom,

Of course it works on EURUSD.
The best exit strategy is to exit after 3 hours of trading since entry or at the nearest pivot level, whichever comes first.

Regards,
Edward