Are Camarilla & Pivot points useful?

Hi,
I have been testing out new strategies, spread betting the DOW and FTSE and forex trading (Eur/USD & GBP/USD). I mainly day-trade using a few Moving Averages, Fibonacci and wait for signals on the 5 minute and 15/30 minute charts.

I have read abit about Camarilla Levels and Pivot Points. Are these affective? Does anyone still use these? Are they useless? or can they be implemented in trading with good results? Any comments would be appreciated.

Thanks

Hi Si55,

I read for the first time about cams after buying the mechanical discretion ebook by Jetheat. I generally put the levels on each days chart to see how the price behaves around them. Some days they bounce really well off these levels some days not so well. I suppose it depends if there is any news coming too.

I also put pivot levels on there to and much the same results as above.

Hope this is helpful, some others may have better feedback than mine.

All I suggest is put them into your strategy for a little while and see if they work for you or not.

no better or worse than standard floor pivot calculations. I had a friend who was quite into S&R calculations and he did some work with the camarilla numbers to see if there was anything in them - they are just a derived extrapolation of OHLC data - nothing special.

If you can trade off pivot lines then you'll probably be able to trade off Cam numbers, but dont put any credence in their profit & loss figures shown on their website - they calculate those based on the maximum possible move through one of their levels - that'd be great if you could know when the maximum possible move was completed - if you knew that, you wouldnt even need the Cam levels! so their PnL numbers are a load of deceptive b0llocks basically.

Certainly not worth paying for - with a bit of googling I'm sure the camarilla formula has been disclosed on here and Elite Trader at various stages in the past.

Hi Priceman,
I also read the ebook `Mechanical Discretion` by Jet Heat and found it interesting. I guess you just need to plot the lines & pivots and see how price action reacts to them.
I tried testing using Cams and Pivots months ago but stopped due to me getting more used to Moving Averages and the fact that they are always calculated for you on the charts whereas the Cams and Pivots you have to plot on yourself.

I guess ill need to test Cams and Pivots for awhile .....

Anyone recommend anything else?

Thanks

Thanks Arbitraguer,

I guess ill just have to test using standard pivot points and see how things go.... Someone out there must have tested and come to a conclusion whether they are useless or worh plotting on charts.

Thanks

Well I have been reading a great deal over the last year or so on different techniques and I have made something that I am comfortable with. A mix of everyone's knowledge put together for me. So in effect my strategy.

Read wasps journal and you'll see that he has his way now that works for him. Then just carry on playing around until something clicks into place for you. Everyone will tell you loads of different things that work for them, but it's not the full picture they are giving you of their trading plan/ strat.

Good luck, I can send you links if you like of useful sites that I use but you may have millions already. There's certainly information overload for ages that's for certain.

Thanks for the advice priceman, really appreciated.
Yes i have been learning, trading, testing, demoing, reading and trying different things for the last year and a half and still there is lots and lots out there. I guess its a non stop learning process.
After good results in my demo trading last year, i decided to trade using real money so I funded my account with about £1000 and guess what i blew about 80% of that in 1 month. I guess i got greddy and overtraded, so i stopped and started learning again. I guess its all part of the learning curve.
I have most days free where i just sit and sit and watch the charts trying to gain a few points but i guess i need to stick with it and imporve on that. There is alot out there to get you confused.

I would really appreciate if you could send me or PM me links on anything useful that i can read and learn off.

Appreciate your feedback.
Thanks

Si55AMG said:

I have read a bit about ... Pivot Points. Are these effective? Does anyone still use these?

Click to expand...

Si55AMG,

I recently submitted two posts on the subject of Pivot Points that address your questions about them.

Here is a link to both of them (see Post #11 and #15):

http://www.trade2win.com/boards/showthread.php?t=20965&page=2&pp=10

Here's something that might help http://www.surefire-forex-trading.com/PP.html

Camarillas can be really useful at the right time. Standards give you stronger price action but there are times when you just don't see a market get that far and that is when Camarilla comes in handy. I offer trading signals and free software with a camarilla calculator inside and the way I use them is very easy and I will also cover how I setup trades in videos inside the software. I try to upload some stuff to youtube but I cant touch on everything in 10 min.

Let me give a brief summary of how I use the Camarilla pivots right here though but you can get more info at my site. OK here is the boring stuff everyone already knows

Use H3 and L3 as support but if the market keeps running use
H4 and L4 as breakout points. OK I said you had heard it before so I want be insulted if you say big deal. but here are some other simple little ingredients I generally add into my system.

1. I trade on breakouts during the first 3 hours of the london session
2. I trade on sup/Res on the 2nd and 3rd hour of the New York session
3. I take a measure of the swing from high to low on the previous day and when the market is cooking my system looks for breakouts again and when it is quiet I look for resistance or support.

I have programmed all of this into our signals and ofcourse backtested it finetuning my definition of what is cooking and what is not for eadch pair. I wrapped this up as one of our simple strategies for developing signals that we send out with our premium service to users of our forex flows software. We are not really big on handing signals to people and saying voila so a lot of what we do is coaching. Look at some of our videos for free on the link below and visit our website for more info on our 80% discount on introduction to our service.

Free software visit:
http://www.digital-intuition.com/coupon.php?coupon_code=CPNA0001Z001
Free video Samples:
http://www.youtube.com/view_play_list?p=FE856782219FEDFC

I sincerely hope you find some of this info helpful

Warmest Regards:
Alfred

This is very interesting for me,thanks!

Thanks for the advice guys, appreciated,
Sorry aint been here for awhile...

hi Digintuit!
Hope you are doing alright.
here for the first time. would like to know about trading breakouts and breakdowns above H4 and below L4. how do you set targets? also would like to know - can a trade initiated for day trade using camarilla H4 breakout or L4 breakdown be kept through to the next day?
kindly enlighten with your thoughts.
cheers//mvp

Hi folks,

If you're looking for a floor pivot system for Metatrader check out the FX Algotrader products. I bought the Daily,Weekly and Monthly pivots bundle for a song. Less than 50 bucks all in - no sales rubbish just sensibly priced FX trading tools which do what they say. I haven't had much exposure to Camarilla - I think pivots, fibs and good old S&R provides works well when used in conjunction and also with observed price action around the levels. As Chris Lori said "The early bird catches the worm but the second mouse gets the cheese" -