Pivot Points are widely used by day traders to quickly determine where forex market sentiment may change between bullish and bearish. Trading requires reference points ( support and resistance), which are used to determine when to enter the market, place stops and take profits. However, many beginning traders divert too much attention to technical indicators such day forex pivot point trading moving average convergence divergence (MACD) and relative strength index (RSI) (to name a few) and fail to identify a point that defines risk.
Unknown risk can lead to margin calls, but calculated risk significantly improves the odds of success over the long haul.One tool that actually provides potential support and resistance and helps minimize risk is the pivot point and its derivatives. Intra Day Pivot Point trading strategy as used by Floor, Institutional and experienced traders. FREE 14 day trial here One of many features that are calculated automatically in JBL Risk Manager - Money Risk Management trading software for traders and investors.
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