Why do Pivots have credibility?

Discussion in 'Trading' started by ang_99, Jan 15, 2006.

  1. imo pivots based on a predetermined formula calculated off h/l/c are at best approximations.

    You would need to do something much more sophisticated to find the 'pivots' that meant something over the long term.

    Good luck finding them.
     
    #11     Jan 15, 2006
  2. GRX

    GRX

    You can't use logic to disprove an illogical idea.

    GRX :p
     
    #12     Jan 15, 2006
  3. because floor traders use them, and floor traders make money (survival bias rules here)
     
    #13     Feb 6, 2006
  4. Nope, no credibility at all. I suggest you guys all look elsewhere for tools to help you trade.

    I congratulate you all on learning about the subject in great detail, and for your penetrating insights into the subject.

    Obviously nothing of value here.

    Carry on,
    Steve
     
    #14     Feb 6, 2006
  5. momoNY

    momoNY

    Often Pivots coincide with high/Low of one or two todays ago. That's where they get their credibility I think; the rest is self fulfilling prophecy.
     
    #15     Feb 6, 2006
  6. So I guess that means that you guys couldn't make them work.

    Ain't trading a wonderful opportunity for opposing opinions.
     
    #16     Feb 6, 2006
  7. You answered your own question...hey if you draw enough lines on your chart, one of them will work!


     
    #17     Feb 6, 2006
  8. lol Electric ... good to chat to you again :)

    I didn't answer the question. The weird thing is that I know people who do use pivots effectively (as you know, I don't, and havent changed my trading style since we last talked).

    They're just like any other form of support and resistance - its only potential until price interacts with it so the real skill is in the trader ( implying that those who dont get it havent made the effort or simply were not up to it :eek: ). The key is to set up from support or resistance a positive expectancy trade :)
     
    #18     Feb 6, 2006
  9. Hello kiwi...

    I read all your posts when your here...

    I agree S/R is a nice line to draw, with a proper risk/reward...and hey positive interest differential takes the stress off...:)

    Michael B.

    P.S. Folks kiwi is going to kill me, but if you ever need any help with your spreadsheets or other selected programs, kiwi is the fastest wit (not twit kiwi) I know...I wish my mind were as nimble as his.


     
    #19     Feb 6, 2006
  10. Frame this! :cool:

     
    #20     Feb 6, 2006