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Thread: Peter Bains Pivot Strategy

  1. #1
    Hi All;
    I wonder if anyone can brief me about Peter Bain's pivot plan, its own methodology, achievement and if anyone have peronal encounter with pivot points.

    Thanks

  2. #2
    Hi,

    His Plan include:
    1. Pivots points S2 into R2 and mid lines (M1-M4)
    2. MACD divergence
    3. Trend lines
    4. Graph patterns : hamer, spining shirt, railroad track, double leading I bottom
    5. Diffrerent time frames
    6. Price projection
    5. Timing - london open/lose, news moment, ny available, etc..

    There are 21 factors. See attached pic.


    His mentorship program is the finest I've ever found. Daily (Tue-FRI) he is talking about price actions , general department and QA.

    On his website are plenty of instructional staff, video tutorails etc..
    He arrange workshops in US,Canada, UK, and Australia (with Chris Lori CTA).
    Worshops also are fantastic.

    I believe his course and especialy mentorhisp programm is well worth every $ you pay.

    Regards,

    Andrew

    P.S. Sorry for my english - I am from Poland.

  3. #3
    Quote Originally Posted by ;
    Hi All;
    I wonder if anybody can brief me about Peter Bain's pivot egy, its own methodology, success and should anybody have peronal encounter with pivot points.

    Thanks
    abedewi,

    My only worries about Peter's egy is twofold. 1) It's a day-trading, scalping egy, and 2) he concentrates on the euro to the exclusion of everything else.

    The good things, however, are that he insists on market discipline through putting of stops and he gets you to concentrate on pattern recognition for trades.

    The pivot points you can calculate yourself utilizing the camarilla equation. Do a search and you'll find the equation out there somewhere in cyberspace. Back in the 80's and 90's, these would be sold by men to locals on the floor.

  4. #4
    Quote Originally Posted by ;
    abedewi,

    My only worries about Peter's plan is twofold. 1) It is a day-trading, scalping plan, and 2) he concentrates on the euro to the exclusion of everything else.
    Hi Vegas,



    1) It is day trading naturally but maybe not scalping in my view. For newbis he recommended 20 pips target but for more experienced traders goals based on technicals and are between 30 - 75 pips (on euro).
    He composed in his course something like Do not scalp, monies tranding well.
    Obviously it depends how one defined scalping.

    2) In his view trader should specialise in 1 currency (at least at the begining) - but last time he talked not just about euro but frequently about cable too.

    Incidentally, Vegas thank You for sharing your thoughts and experience, thanks to Vegas Welth Builder along with Your aid. As You said What goes around, comes around.

    Regards,

    Andrew

  5. #5
    I have taken a couple classes. Started a little over one year ago. I never signed up for Peter Baines course... however, I am still receiving graphs, and analysis information out of him on a weekly basis, obtained some yesterday. Not even the classes that I took do that.

    If you would like to be taught Forex by someone, have the money to invest in a program, and do not wanna devote the initial time discovering it all on your own. . .you can do worse than Peter baine.

    Pivot points are only another fantastic analytical instrument. They are not the end all, be hyped. I know, that's how I first began, with Pivot point egies.

    I only advoe, you continue your eduion as soon as you've learned the fundamentals through someone like him. Too many, I added. . .walk from these classes thinking I know what to do. . .time to generate money.

    And lose their shirts. . .like I did.

    One course is NOT all you need. Don't finish your eduion, or start your real cash trading. . .as soon as you finish some program. Than these classes lead you to beleive it is a much more, and harder road. But, they can be a great place. Bain is prolly better than most.

    Look into James16 personal forum here as well.

  6. #6
    SouthernFried,
    You absolutly Perfect. 1 class isn't all 1 need (however it could be one of many things ).
    Someone stated that good trader has to lost their top to begin with to realize that trading it's not just fundamental or technican but also plogy, subject, thinking in probabilities, cash managemet and a number of different things. Goal is to be cosistent winner. Eduion should never stop.

    By the way I lose my shirt too .

    Regards

    Andrew

  7. #7
    Southern, Andrew et al,

    As a fully paid up registered Fellow of The Empty Wardrobe club [shirt, shorts, shorts and everything else] I agree whole heartedly with what you're saying.

    I look at it like this. When I was paying my dues, I was likely paying them to the patient, wise old farts of this day, while I had been operating in and out of this industry feeling that if I was ever going to make this job, I had to be 'In the Market'. Not Correct. Never Forget there are 3 transactions. Long, Short Aside.

    I also have paid good money for courses that enhanced my skills. Some of them but a smidgen. Were they worth it? That's relative, however I have small flashes of a tiny tidbit of info [good or bad] I picked up at a course here or there just before I pull the Trigger. I think they do fill out your own Trading Personality [design]

    In retrospect, I now feel that among the most essential areas of my research was programming language. Not so I could be a qualified software developer [which I am not], but I could lay down my own trading Rules of Engagement that was/still is the sum total of all I've discovered along the way.

    Consider this. If you registered for a course next month at a cost of $n.nn, would not you make sure that when you got there you were prepared. Springbinders, pens, pens caculator and the rest of the stuff to take copious notes on all the info provided at that course. Then later return over it again and again to pull out the diamonds which function for you.

    Now ask yourself, Is why I am not doing this at this particular forum [or any other] because it's free. Do not Sell the Info on These Pages Short. [pun intended]

    Obtain a fullsize notepad and find a permanent space for it on your workstation. When you see something/anything which makes you so much as raise an eyebrow, write it all down. If it makes you think That's a purchase ! Write it down together with details including why you believed it was a Purchase in it's own section of your notepad. Provided that you'll come to realize that the $2.00 or so that you spent on your notepad was The Absolute Best Investment of your trading expertise. However, only if you return over it again to get those diamonds.

    You are able to always bounce around from this guys course to this guys approach but if you don't start taking them apart and also reassembling them as a whole which is suitable for you, I then wonder which/who's plan you'll use next month?

    Thank you for the shirt by the way.

  8. #8
    Quote Originally Posted by ;
    you're able to always bounce around from this guys course to this guys approach but if you do not begin taking them apart and also reassembling them as a whole which works for youpersonally, I then wonder which/who's egy you will use next month?
    Very well said, dear sir! Very well indeed! Bravo!

  9. #9
    Quote Originally Posted by ;
    1) It's day trading naturally but maybe not scalping in my view. For newbis he recommended 20 pips goal but for more experienced traders targets based on technicals and are between 30 - 75 pips (on euro).
    Just some food for thought: if he could intraday 30-to-75 pips off the markets every day (even though it was only 1 day a week), he'd be a multimillionaire via compounding within five decades. So, why would he be promoting his mastership having to go through the jumble of recording an video every morning, etc?

    My guess? He doesn't trade at all, he makes his living.

    Beware of those Industrial mentors...

  10. #10
    Quote Originally Posted by ;
    Just some food for thought: when he could intraday 30-to-75 pips off the markets each day (even though it was only one day per week), he would be a multimillionaire through compounding within 5 decades. So, why could he be promoting his mastership having to go through the mess of recording an online video every morning, etc?

    My guess? He doesn't trade at all, he makes his living by selling his courses.

    Beware of the industrial mentors...
    Not every day of course, not each transaction is a winner as always in actual world.
    He is not selling signals, he is teaching how one himself can analyse and trade forex.
    As I said I think the most precious portion of his class is mentorship program.

    I really don't know if he's living selling courses, but think that it is okay to cover somebody's work if it is worth one's salt. Eduion is a bussines. He's taught me how to fish...

    I agree Be aware, but try, perhaps it's another mentor but Your's future Mentor (without quotes) ? You do not win for sure if You do not play. There is obviously money back guarantee so danger is limited.

    I do not know if he's trading forex every day, but since I wrote he organize workshops with Chris Lori - a CTA (Commodity Trading Advisor) along with also a complete time professional forex trader and fund manager (Seaview Capital Inc.).

    I wrote in my experience together due to abedewi post.
    I can recommended this program, but choice to buy it is not mine.

    Regards,

    Andrew

    P.S. I'm not working for him. I enjoyed it much and recently purchased his path.

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