trader_dante
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think you might have missed the boat on this one
No, I bought in again today at $44.90.
think you might have missed the boat on this one
i will be long usd/jpy from tonight
are you implying im wrong?
Trader_Dante,
Apologies if this question is out of place here. I started reading your "Making Money Trading" a while back, but got side-tracked. I've recently started re-reading it from the beginning, but have still some way to go(!). Excellent stuff so far. I have a question relating to the trading method(s) described there, and I apologise in advance if you had already covered it later in the thread. I know that in the course of the thread you mention that some people use calculated pivot points, but that you personally do not. As far as I have read so far, you don't seem to have anything against them.
I have read somewhere in Forex Factory (I don't think it was the famous James16 thread, but it was by someone with apparently a lot of experience), a recommendation not to rely on calculated pivot points, for the apparently simple reason that because people trading in different time zones would have different open and close times, their pivot points would be different, which kind of throws into question the whole validity of the exercise. In addition, there is the complication of multiple methods of calculation, and for Forex, the question of how to do define open and close times (similar to the first objection really).
Would you care to offer a comment on that aspect of PPs, and please accept my apologies if you have already answered this question a bazillion times already.
With thanks,