Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I have been looking a bit towards pivot points and observed that some days they do work as support and resistance, but some days they mean nothing for price action. A bit hard yet to figure out wich days they should be disregarded.
Do anyone else here use pivot points in their trading? ....and how do you find them usefull ?
Nothing works all the time. I trade futures with pivots and set stop loss below for risk management. More often then not I get stopped out. But when I do not the profits far offset the times I get stopped out. You can be right 10% of the time and wrong 90% of the time and still be profitable. Key is risk management and getting out of the trade when it didn't work out.
Platform: TradeStation, Think or Swim, NinjaTrader
Broker: DTN
Trading: options and stocks
Posts: 22 since Feb 2012
Thanks Given: 9
Thanks Received: 11
improper stop placement will result in getting stopped out. consider placing stops around support or resistance areas coupled with ATR to help estimate those ranges. The result is a structured stop instead of a arbitrary cash stop based on your view of the market, rather structured stops will be in better alignment with the market, which is never wrong. my $.02
I want to test something. It's simple. Place some random lines on your chart prior to the day opening, and see if at the end of the day you feel like those lines were important (try to imagine they weren't random, but some expensive or complicated …
