Report # 16
I used to trade and quit about 18 years ago. Now in my old age I'm back in the game again to relearn the basics and see if I can use some of my savings cash stacked up earning me NADA in the banks, or money markets. Mainly though I'm back in the trading game for something to do with each day, besides looking after re-potting plants in my hobby two nurseries.
One of the reviews recently finished, was over PIVOT POINTS. I remembered discarding them couple of decades ago, for a system doing a similar thing, called ADAM's THEORY. Recently I re-tried the PIVOT POINT system again and found it had the same problems. Mostly I guess, because it lacked the graphical, or visual property that you get with the simpler ADAM'S THEORY. So for the last couple of months I've been using ADAM's THEORY, probably an outdated method of calculating breakouts, moving pressure and direction and support and resistance. Still, I find it works at least for me, better than PIVOT POINTS. Same goals, but usually slightly different approach and it is all graphic and easier to grasp the essentials of what is happening, at least for me. Since it is a picture, scratched with a pencil on a piece of scrap paper for the weekly bar.
Just thought I would throw that comment out there for the fun of it. Especially since I see whole reams of web sites these days expounding PIVOT POINTS like some HOLY GRAIL. Each to his own I guess?
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