Pivot Points

[SethArb]

using one variation of pivots has helped me become a better trader but I do at times have to "tweak" the numbers
when battling the "BOTS"

 

[rcanfiel]

Quote from quin8670:

can you point us in the direction of the study and tell us it was by?

I believe this was one of them:

http://www.cass.city.ac.uk/media/stories/resources/Magic_Numbers_in_the_Dow.pdf

 

[Reaver]

Quote from rcanfiel:

What one trader does has no bearing on whether or not something works. Anecdotal evidence has no value.

They checked fib retracements, as well as standard things like 50% or 25%. The results had nothing to do with any magic numbers.

Wha??

I think you have it backwards...if it works it works, regardless of what the "science" says.

That's like back in the day, the "science" said cigarettes didn't promote cancer....hmmm...people still got cancer though.

I think reality trumps theory any day.


That's just me though, I'm crazy like that.

 

[TSGannGalt]

Pivots have significance.

Key is:

Bid/ask size (Volume)
Underlying market condition.
Markets. (FX and E-minis... lower the cost of entry 'popularity', the higher the strength)