Spoke to a friend of a Kingfisher trader. Kingfisher uses line charts for support and resistance based on the 1 hr and 30 mins charts. The main peaks and troughs are the levels he calls. Also uses 1 min candle charts for some entries, but the calls he makes in the room are the line charts. Take a trial with this on your screen and you'll see how it works. You are welcome to send me $6k for this paragraph. Enjoy!
Yes it's software. I use to have it. All it does is calcuate the standard equations that most people use for pivot, S1,2,3 and R1,2,3. Thats it, nothing fancy. google for "pivot point calculator" and you see several that can be installed or web pages that you can just plug in the numbers. You can even do it in an excel spreadsheet. Depending on the charting software you use many will put the pivot and S/R lines on the chart for you. Good luck and good trading. Bsulli
Some of the older posts mention that there are several common formulas for calcuating S/R and ask which one should be used. This calucator does the three most commons in one calucator. http://www.simple-as-123.net/simple/PivotCalc1.exe fwiw Bsulli
As someone who actually forked over the $6000 and never made a dime following Kingfish I can attest that it is a scam pure and simple, he even uses ringers to make it appear that they are making money. I actually got my money back when I threatened to report him to the Florida Attorney General, that changed his attitude real fast, he must be acquainted with the Attorney General. The system as near as I understood it, he would never give his systen in writing, you had to listen to his bull shit everyday to learn it, is to play off reversals of a high or a low, any high or low will do. He actually had people long and short at the same time in his chat room and claiming they were all right. Total insanity! Yes he would call trades before the market opens, he would call four or five trades, chances are one would be right. All that this told me was that I hads five opportunities to lose money and one opportunity of winning, not very good odds in my book. Most trading systems seemto give you a lot of small wins that are eventually wiped out by a large loss. He turns this around, one large win is eventually wiped out by many small loses. At least he is original. Kingfish will not give you anything in writing explaining the system, so you never know if you completely understand the system. Also he will give you no verifiable proof that the system even works, no win lose percentages, no maximum expected drawdowns, no supporting statistical information of any kind. If you can not pin him down to anything it is pretty hard to sue him. After two weeks in the chat room and losing money Istarted complaining, one other member told me it took him eight months to get where he could trade this system profitably; what the hell did I just pay $6000 for, for that kind of money i expected to be given a coherent system that I could trade profitably from day one; otherwise why would I shell out $6000. A total scam. why he has not been thrown in jail is beyond me. I think everyone that has lost money on this scam should start a class action law suit!
Sometimes you can find old stuff via the Internet Wayback archive, this is one of those times: http://tinyurl.com/ywa7z6 smitty
If you use tradestation John Carter has a fantastic pivot plug in that automatically draws the days pivot points on your charts.....you can buy it at tradethemarkets.com
Another spam message? It is always strange when a first-time poster has a glowing report of something, especially when replying 2 months later to an old post. Anything to keep getting the website in front of others. It was my impression that others had a LESS than favorable impression of that website's offerings...
I have nothing to gain by my post...Was simply giving honest info as a user of the pivot plug in. You are welcome to continue to waste your time typing daily pivots into a spread sheet if you wish. I will save time and spend more time trading by using automated software. I couldn't cate less who wrote it or sells it. If it saves time, offers a fair value, and helps me trade, then I am all for it. 2 months old, 4 mos old..whatever...obviously people read this stuff looking for help.