Re: Pivots, Posts, Sensibility, and.... Trading.

[Peter2150@xxxxxxx]

In a message dated 97-11-24 12:35:31 EST, meyer@xxxxxxxxxxx writes:

> It seemed as if you were asking the question to get something. A lot of
>  people want something for nothing. If not then I apologize. But in
>  mathematics we learn that if something is not proven to be false. It is
>  a valid study. Because no one to the present has been succesfull with
>  pivots doesn't mean that they can't be made to be useful.
>  

>  > All pivots work the same, has nothing to do with the math.
>  
>  Then you need to learn somthing. It is all math. You explained the
>  conscept of support & resistance or the application of the mathematical
>  tool. But your mistake is how you view the problem. It is the price
>  pattern (a mathematical relationship) that determines the type of pivot
>  formula (successful or not). So we look at this same problem
>  differently. We are saying similiar things, but from a different point
>  of view. You look at chance & I look at discrete mathematics. I look one
>  level closer.

Harley.

          I wasn't asking for something for nothing as I didn't ask anyone to
reveal what they were doing, just that they were doing it.

         Your comment about math studies would be right if we were dealing
with math studies. But we are not.  Math doesn't place buy and sell orders,
people do, and much of what they do is based on pure emotion, fear and greed.
  It isn't math that makes prices stop at a certain price, its what people
think about that price.  Yes you can apply math studies to that price action,
but that action was determined by people taking action.   How would you
explain exhaustion bars mathematically.  A good example of pure emotion.

         By the way if you want to add something else very interesting to
your pivot study, take a look at the opening price.  In the futures anyway it
is a remarkable support, resistance line.

                                                    Pete