Pivot Points - John F. Carter

[trader84 10]

I wonder if anyone is trading by his setups? Not only for pivots but also gap trading and scalping. I finished reading his book but i wonder if those setups really work.

 

he is using few different setups. The ones i liked the most are

 

1) gap trading (fading the opening gaps)

 

2) fading the pivot points on choppy day markets

 

3) using squeeze indicator

 

Share your experiences

 

thx

[Tams 20]

I wonder if anyone is trading by his setups? Not only for pivots but also gap trading and scalping. I finished reading his book but i wonder if those setups really work.

....

 

Share your experiences

 

thx

 

if his setup "works", then the thousands of people who bought the book would be multi-millionaires by now, and their friends and families would buy/borrow the book, and they too, would become fantastic traders... and leaving everybody envy. Hahahah.

[trader84 10]

if his setup "works", then the thousands of people who bought the book would be multi-millionaires by now, and their friends and families would buy/borrow the book, and they too, would become fantastic traders... and leaving everybody envy. Hahahah.

 

So does the fact that they are not millionares (which btw, some of them can be but u dont know) make all the setups false?

 

U are only party correct but mostly this kind of reasoning is wrong.

 

Still if his setups do work they need to be properly applied and in right market conditions. Not many people can do that.

 

The fact is that his setups seem to have some good logic behind so i was interested if anyone had any profit using them and perhaps if anyone made some adjustments to make them even better.

[Tams 20]

So does the fact that they are not millionares (which btw, some of them can be but u dont know) make all the setups false?

 

U are only party correct but mostly this kind of reasoning is wrong.

 

Still if his setups do work they need to be properly applied and in right market conditions. Not many people can do that.

 

The fact is that his setups seem to have some good logic behind so i was interested if anyone had any profit using them and perhaps if anyone made some adjustments to make them even better.

 

that's wishful thinking... that's what drives the vendor business.

 

keep trying.

 

good luck.

[trader84 10]

that's wishful thinking... that's what drives the vendor business.

 

keep trying.

 

good luck.

 

well that might be...BUT

 

are u basically saying that all setups in all books that are for sale are completly useless and crap? :crap:

[Tams 20]

well that might be...BUT

 

are u basically saying that all setups in all books that are for sale are completly useless and crap? :crap:

 

That was neither the word, nor the spirit, of what was conveyed.

[trader84 10]

That was neither the word, nor the spirit, of what was conveyed.

 

Well, you said "if people who bought the book would be multi-millionaires by now, and their friends"

 

This is just pointless statement becouse same reasoning can be applied to any book or any setup on any forum online.

 

I was wondering if anyone actually tried them and what are their experiences.

[Ingot54 13]

[ame=http://www.youtube.com/watch?v=Tpl4Cr3-Tm0&NR=1]‪train colision‬‏ - YouTube[/ame]

 

EDIT - Oops! Sorry, wrong thread.

 

Oh well, it's done now.

[neoikon 10]

Still if his setups do work they need to be properly applied and in right market conditions. Not many people can do that.

 

I second that. Most people miss this idea. It's similar to saying, "If trading worked, traders would all be rich." There is a reason most fail, but it doesn't mean trading doesn't work. Similarly, for any given system or trading method.

 

Best of luck in your trading.

[Brookwood 10]

We seem to be off of Pivot Points and on to Carter on general...

Well my $.02: his book is more useful to a new trader from the business angle, ie; trade plans, trade management, and some nuggets in the foreword. Let's face it: entries are a dime a dozen- more like a gross. And yes,he has some. I used to subscribe to his freebie newsletter, mostly to keep in virtual touch with what other traders were thinking for the day, as a reality check for what is a pretty solitary profession. But you'll notice he is kind of discretionary in real life with his squeezes for example, if you follow him for a while. "The Squeeze" is a volatility breakout system of which there are many. Periods of low volatility are often followed by high, and vice versa. This is his attempt to standardize the phenomenon, and capitalize on it. IMHO they are more effective on long term charts than 5m charts. I'm personally partial to weekly pivots for some of the reasons that Fat Tails points out. I can see at a glance where price is in context of the previous week. But I'm a candlestick/ SR guy at heart so I always gotta manage my trades. I can't make hard-fast rules for pivots because ultimately Price is my master.

[Tye 10]

Great Video,

 

However, I can not find the link or lead of any sort for the particular "Pivot Point Indicator" described in the video for MT4.

Any help obtaining this indicator would be greatly appreciated.

[Tams 20]

Great Video,

 

However, I can not find the link or lead of any sort for the particular "Pivot Point Indicator" described in the video for MT4.

Any help obtaining this indicator would be greatly appreciated.

 

what do you publish?