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Hello, quick question about pivot point calculation
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Hello, quick question about pivot point calculation

  #1 (permalink)
Trading Apprentice
Williamsville
 
Futures Experience: Beginner
Platform: Think or Swim
Favorite Futures: emini es
 
Posts: 3 since Feb 2016
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Hello, quick question about pivot point calculation

Hi, new to the forum, nice to meet you all.

Im suffering from a little info overload and im trying to weed out the good and the bad info.

The big question i have right now is about pivot points on /ES . Im getting two ways to calculate them. Some people use overnight data and some use RTH ( regular trading hours ). Does anyone know whats the right way ? Im using RTH and they seem to be working ok, but a guy im learning with says he uses 24 hour. I dont know if this is correct but i was taught to turn off 24 hours on /es so you can see the gaps and i just been trying to trade it that way, only during RTH. Was looking on the internet and investopedia sorta agreed but it was just vague enough to leave a few questions.

Am i all screwed up here or is it ok to turn off 24 hour data and do the pivot calculations like that ?


Thank you very much for any responses.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
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Hello, quick question about pivot point calculation



nf0kus View Post
Hi, new to the forum, nice to meet you all.



Im suffering from a little info overload and im trying to weed out the good and the bad info.



The big question i have right now is about pivot points on /ES . Im getting two ways to calculate them. Some people use overnight data and some use RTH ( regular trading hours ). Does anyone know whats the right way ? Im using RTH and they seem to be working ok, but a guy im learning with says he uses 24 hour. I dont know if this is correct but i was taught to turn off 24 hours on /es so you can see the gaps and i just been trying to trade it that way, only during RTH. Was looking on the internet and investopedia sorta agreed but it was just vague enough to leave a few questions.



Am i all screwed up here or is it ok to turn off 24 hour data and do the pivot calculations like that ?





Thank you very much for any responses.



It can almost be a case of pick your poison and stick with it. Some people say pivots have to be calculated off settlement prices too.

The main thing we have to do is create a robust trade plan that plans out everything you do ahead of time and train yourself to execute it flawlessly. A plan for position sizing trades. A plan to grade trades. A plan to start each trading day with. A plan to take profits. A plan to know when a trade is not working. A plan to know how you will enter the market. A plan to know where you will enter the market. A plan to exit the market and how. A plan when not to trade. A plan to focus yourself before trading. A plan to keep yourself in good physical condition, trading even though we usually just sit there at the screens is a performance sport. A plan to analyze the big picture. A plan to analyze multiple time frames. A plan to analyze market confluences. A plan to record your trades, mood and feelings/emotions. A plan to manage your thoughts during trades. A plan to keep office equipment in top working order. A plan to do market research. A plan to reward yourself. A plan to contact your broker quickly. A plan to handle news releases etc....

Ron


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It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
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Buy Low And Sell High (read left to right or right to left....lol)
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  #4 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
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Hello.... Anybody home.......

Ron

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #5 (permalink)
Trading Apprentice
Williamsville
 
Futures Experience: Beginner
Platform: Think or Swim
Favorite Futures: emini es
 
Posts: 3 since Feb 2016
Thanks: 0 given, 2 received


Blash View Post
Hello.... Anybody home.......

Ron

Hi Blash, thank you for your reply.

I have been playing with things and settled on using RTH data, it seems to be working fine. The formula worked for a lot of the stocks im looking at on my left monitor. R1 to S1 to R1 to S1. Puts the wild day in perspective.

Working on my plans too. Im trying to build a strategy around oversold RSI/MACD 3/10/16, 9ema/20sma/49ema/200sma/atrstop, vwap and pivots ( might have too much going on ) and i also do chart works of trendlines and overnight high and lows and obvious pivot points on daily and weekly charts and some market profile in ToS. Building it to be a daytrading strategy as i dont like to stay in through night, but would if data supported higher probabilities of success, which i havent seen so far to be the case.

I have a grid on my right with tick, /es 400tick with ma's/vwap/atrstop, add, /vx $vold and a 15m 20day profile of /es RTH. I am trying to use that to get my feel for the market, though i am also watching bkx /cl, /zb /gc, $djt, /nq, /tf. On my left monitor i have a 9 grid with FANG's and GS and whatever else.

So basically i guess im trying to be a intraday swing trader. Twitch trading at open isnt quite my bag, but im liking i think 9:45 to 11am and looking again at close. Look during the day for trends to get a futures position for scalp if possible.

Basically my goal as a trader is about $50 a day avg. I dont care how i do it, but i want to do it in the highest probability way and the most consistent way. Not looking for ferraris and stuff, but food works.

Hope that wasnt TMI

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