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Floor trader pivot system.
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Floor traders and other professionals who do the actual buying and selling of futures contracts in the trading pits of the exchanges generally employ very similar systems for valuing the price of these instruments in the absence of significant outside influences.
A price equilibrium point is determined as well as support and resistance levels in relation to that equilibrium point.
These systems employ a method of calculating relative value based on the price activity of the prior day.
When it comes to intraday trading pivot points are an indispensable tool.
The market is considered bullish when it s above the central pivot.
Pivot points are derived based on the floor trading guys that used to trade the market in the trading pit.
Put simply if the market is.
Pivot system support and resistance explained.
The market is considered bearish when it s below.
The way bankers trade is totally different.
It s important to know this fact to appreciate the value pivot points can bring to your trading.
Key intra day support and resistance levels are often found with floor trader pivots.
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This method is called the floor trader pivot system.
Learnign to use them will give a trader an advantage.
Floor trader pivots also known as classical pivots denote areas on a chart where future price is likely to encounter support or resistance.
They define an equilibrium point considered a neutral market called the pivot point or central pivot.
What are floor trader pivots.
Floor trader pivots are support resistance levels that floor traders have used in the pits of the exchanges for many years.
So you can also read bankers way of trading in the forex market.
Floor trader pivots are often called calculated pivots because they are determined through a series of calculations using numbers from previous days.
Developed by floor traders at a time when pit trading ruled the roost the system has stood the test of time and is still being used by many electronic traders throughout the world.
The success of a pivot point system lies squarely on the shoulders of the trader and depends on their ability to effectively use it for predictions.
They determine specific pivot points or central pivots that define a sort of equilibrium point or a neutral market.
