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Zim

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Posts: 20
Reply with quote  #1 
The time frames used are daily, weekly, and monthly. Instead of trying to pick "The Top" why not follow NAV's
advice and wait for a pivot to give way?

Index Pivot Points 

Good Trading All

Bill

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fib_1618

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Reply with quote  #2 
Quote:
Instead of trying to pick "The Top" why not follow NAV's advice and wait for a pivot to give way?

Pivot points (like price objectives) are nice, but unless you know which direction money is flowing, one may pick the wrong pivot to work from making them useless to the trader.

Still...not a bad way to go though Parabolic SAR's do a better job of moving you in and out.

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

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Zim

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Posts: 20
Reply with quote  #3 
As to which is better pivots or SAR is probably open for debate. I have not back tested either in quite a number of years.

The point was to tell those that continue to short all the way up, why not wait until something breaks besides their account [wink]

Good Trading to you

Bill

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Trading is NOT about being right or wrong.
Trading IS about managing money!

http//www.prudenttrader.com
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fib_1618

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Reply with quote  #4 
Quote:
The point was to tell those that continue to short all the way up, why not wait until something breaks besides their account

And of that, we can agree.

Those who decide that they are better apt to trade market direction, without the technical tools to substantiate such a position, are doomed to be betrayed by their own emotional bias.

Fib

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"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

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