Best Forex Trading System

Pivot Points System
Pivot system was developed to know where the price is at every point in time. This is so because before the advent of the internet traders relied on the pivot point to trade. It works like technical analysis but it is not it. It serves a radar to let you know where the price is at the time you are checking it. Pivot points uses previous bar's high, low, close to project the support and resistance for the current bar, this makes it a very useful technique. There are two cardinal points in pivot points, we shall be using the following symbol to represent the two cardinal points; Resistance R3, R2, R1, and for Support; S1, S2, S3.
SUPPORT is referred to as "FLOOR", while RESISTANCE is referred to as "CEILING". When the price reaches "R3" it will be coming down because it has reached the highest high. If it is the "S3" it reaches, it means the price will go up back, that is, it has reached the lowest low. At "R3" the seller will force the price to come down, while at"S3", the buyer will force the price to go up.
For those that are not day traders, knowing the key pivot, support, and resistance points can help the short term off floor and immediate positional trader to identify potential entry points and stop loss levels for your trade if your other criteria have determined the direction in which you should be trading. If you want to trade this system, first you need to check this website www.actionforex.com to get the pivot point that has already been calculated for you for the day,4 hours and an hour. Once you see that the price is at "R3" of the DAILY PIVOT POINT CALCULATED you just need to sell the currency. For instance, if GBP/USD is at "R3" in price movement, you will need to sell that is enter for sell position. That means that you are selling at the highest high. So if you have about $300 in your account, you can trade with 0.1 lots but set target profit of 50-100 pips. With this method, you will be adding more profit to your account.
Secondly if the price is at "S3" you will need to buy the currency like you did at "R3".This is to say that you are buying at the lowest low. You will need to put any stop loss in this system because you are only taking advantage of the price movement per day.
Daily pivots are calculated from previous day's high, low, which ends at 5pmEST or 21pm GMT.4hours pivot are calculated from previous 4 hours bar which ends at 21:00,01:00,05:00,09:00,13:00,17:00 GMT. Hourly pivots are calculated from previously hourly bar. The pivot levels and charts are updated throughout the day to cater for data adjustments during the day.
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