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A (1) setting is ok for the bonds, I'm using .8 on the bonds. I'm using 11
on the SP 500. It is a mater of personal preference. How soon and how much
of the line do you want to see, when the price gets close to it. So try it
out for yourself.
My experience is that it's ok to keep track of the pivot price and other
levels like yesterdays high and low etc. Is it accurate? That depends on
what you are looking for. I suggest that you try it on some past data and
decide how it works for yourself. I think that bobk posted a bunch of
differnent inter-day levels, like the fibonacci ratios, in the past. As for
the pit traders running stops, it is their job to make money anyway that
they can. Ira has talked about ways to avoid getting stopped out. Keep your
ear to the ground an you can learn a lot on the forum.
Prosper
----- Original Message -----
From: "Brian Keith Voiles" <admagic@xxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, February 26, 2001 9:35 PM
Subject: Re: [RT] Spoos Pivot Point ELA
> Prosper,
> Thank you for your kind post. I hope you won't mind clarifying a few
> questions of mine.
>
> Here is one part of the code I have a question about:
>
> Input: Near(1);
>
> What value should I set this for... or is (1) good?
>
> What has been your experience of this indicator? Is it accurate at
> suggesting potential pauses or pivots in the market?
>
> In your first post you mention "The amount is adjustable."... what is
> the amount you have used?
>
> My intention is to use this pivot point for showing me intra day levels of
> support or resistance. In the Spoos (as you probably know) the floor
> traders are notorious for running stops at these levels.
>
> Any other advice or suggestions are welcomed.
> Thank you again.
> Warmly,
> Brian Voiles
>
>
>
>
>
>
> At 08:41 PM 2/26/2001, you wrote:
> >Hi,
> >
> >I like this one because it gets off the screen if the price moves far
enough
> >away. The amount is adjustable. I think this came from Mark Brown.
> >
> >There are a number of different uses for the pivot point. The main one is
as
> >an intra day level of support or resistance that often defines the point
> >that the price will pivot at. If the price does not pivot there then it
> >often continues it's run.
> >
> >Prosper
> >
> >----- Original Message -----
> >From: "Brian Keith Voiles" <admagic@xxxxxxxx>
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Sent: Monday, February 26, 2001 8:09 PM
> >Subject: [RT] Spoos Pivot Point ELA
> >
> >
> > > Can someone share with me a Pivot-Point ELA that they have
> > > used effectively in trading the S&P? Please share how you use
> > > it specifically. Thanks,
> > > Warmly,
> > > Brian Voiles
> > >
> > >
> >
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> >
> >
> >
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> >
>
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