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I finally had to step back and think about this whole thing. In a way struck
me as amusing. I am writing this with no flames or arrows intended, just
trying to look at it objectively. First its very apparent upon reflection,
that Harley must be relatively new to all this. I deduce this from the
questions about the fractions, lack of knowledge about zipping files
together, and his threat to send 5 meg files. That part sort of amused me
as he could send them to me and it would take him time to upload, and then
they get stripped off in transfer so I'd never be bothered by them. I've
learned thru frustration that big files get stripped off in internet
transfer. To those who threatened to return them, patience. I know some
people don't have a delete button, I do, but AOL is gracing me with a 2nd
copy of all of them. Oh well.
But now, lets put all this into trading perspective. Okay there are
13 or 14 ways of calculating these pivots. So you want to study them all.
If I were an academic, I'd say great, but as a trader, I almost want to
laugh. First how do you on a given day decide which one is best. I can
think of how different criteria could change that. Then once you are done
what have you accomplished. If there are 14 methods, no matter what you've
studied in the past you still have a 1 in 14 chance that that will be the
best one to use tomorrow. The really true traders would say doesn't matter
which one you use, but its how you use them, that counts. Harley I would
tell you that the study won't help, because someone else may find a way to
use one you don't think would work, and you may not be able to duplicate what
that person does. Trading is like that.
A key question to ask: Is Anyone Out there, Successfully using
Pivots as a Key Element in there trading?? (No vendor answers Please).
One of the *fun* aspects of trading is that even if the answer is no,
it doesn't mean you can't find one, but also just because someone else is in
fact doing it doesn't mean you will find a use that works for you. THIS IS
TRADING. Its as much the person as the method.
There is a pyschologist who writes for TASC. In one article she
described someone who was working on a system. He'd been working on it for 2
years, and he wasn't going to trade until he got it right. She said he was
working on that system, so he could avoid having to make the decision to
trade. THATS the danger of these studies. Analysis can lead to Paralysis.
Well I think I will *post* this and *pivot* on out of here.
Pete
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