thefxpivotpoint.com

Welcome

This site is dedicated to applying pivot point theory to the foreign currency markets. Pivot points are projected support and resistance levels. I combine pivot points, psychological levels, Fibonacci and trend analysis to determine optimal entry and exit points. The only pair I trade is the EURUSD.  Approximately 80% of all trades occur between the majors and the most liquid major is the EURUSD.

Video Analysis

Video recordings are used to capture trades and more importantly the thought process behind the trade. I create a plan prior to the trading day and then follow up with analysis on how the day unfolded. Some days will only have an end of the day analysis. As a general rule videos will be uploaded the day they are made.

Mechanical Approach

Currency traders come in three flavors. There are those who watch the fundamentals, the ones that watch the charts and finally there are those that do a little of both. Although I'm keenly aware of important fundamental releases my approach is based solely on price action and technical analysis utilizing pivot points, psychological levels and trend line analysis. Additionally I often apply Fibonacci analysis on longer time frames. Additionally it's important to keep in mind that discretion and common sense be applied to any trading system.

Quantifying Success

Trading success is easy to define. You win or you lose. There's no grey area.  It's widely accepted that only a small percentage succeed. The mythical figure is 95% fail but quantifying that number may be a little difficult. The fact remains only a few succeed and even fewer make a living at it. The small group that do succeed have several qualities in common. I examine some of these characteristics in more detail on the page titled 10 Steps. 

Note: The Foreign Exchange market is the largest financial market in the world with an average daily turnover of 2 trillion dollars. It is thirty times larger than the combined volume of all US equity markets.

Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.  Prior to trading any instrument you should carefully consider your level of experience and risk appetite. Do NOT trade based on recommendations from this site. We show you how to think for yourself. If you lose money be man or woman enough to accept responsibility for your own actions   

Quote: David Dreman

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