Lessons From The Multi-Pivots For June 20, 2011

[slgerritz]

Pascal or Billy,

Have you created a table showing the results of the backtesting of the GDX Robot? If so can you share it?
Steve

As to the initial formulas for daily pivots and support/resistance levels, I have vague recollections of old time commodity traders saying they existed as early as the 1970's. But, they could have existed long before and originated in other markets (perhaps even as a footnote in the Buttonwood Agreement).

The idea was apparently scaled up to multiple time frames, including weekly and monthly, by none other than John Person himself (whose book you often cite, Billy) along with some other CBOT traders in 1984. From his website:



A more candid and colorful description of these after-market "homework" sessions is here, in which Person is not afraid to give Heineken its due credit.

From there, it's conceivable that the NASDAQ, perhaps with other exchanges, created the more formal system you were taught, with weightings and even higher time frames.

[adam ali]

Bob,

That's a funny interview with John Person. He seems like a guy you'd like to have a Heineken (or two) with. Sounds like he and his buddies had some great times back then while finding better ways to trade.

[Rembert]

Heineken bah. I wonder what pivot system he'd come up with if it was Duvel instead.

[Pascal]

Pascal or Billy,

Have you created a table showing the results of the backtesting of the GDX Robot? If so can you share it?
Steve

sure:

http://www.effectivevolume.eu/conten...rading_GDX.pdf

The corresponding IWM file can be found on the Robot main page.


Pascal