How To Use Pivot Points and Candle Charts With Precision
Tim: Hello everybody and welcome back to TraderInterviews.com. Thanks for joining me for another show this week. We're going to be speaking with Frank who is a full-time trader. We're going to talk to him about how we approaches the markets and finds good opportunities, and just basically his overall philosophy and his way of looking at the markets to make money. So, Frank, first of all thanks for joining me on the phone today.
Frank: Thanks for having me. It's a pleasure.
Tim: All right. So let's talk about what type of trader you are first whether it be a day trader, a swing trader and then what markets do you trade.
Frank: I'm mainly a day trader and, you know, I look at markets on a kind of a real time basis, minute to minute, 5-minute, 15-minute charts. I'm mostly a day trader focusing on futures markets like the E-minis, even the energies as well. But you know I come from an analytical background as well so I analyze across all timeframes and all types of trading. But more personally, I'm more focused on intraday real-time trading and I will incorporate some swing trade in as well every once in a while.
Tim: All right. And in your bio, it talks about using pivot-based methods. Talk about what you mean.
Frank: I'm a big firm believer in using pivot-based analysis in my trading. I like price-based indicators. Indicators, you know, like floor pivot, something that a lot of folks have used for decades and find reliable. So I like pivot points, methods, anything that allows me to have a leading indicator on my charts that I know where the levels are going to be before the market opens because that helps me develop a plan of attack for the upcoming day -- so pivot-based methods, price-based indicators. I started off with floor pivots and incorporate the pivot range. I...
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