I use both the 50 and 200 sma on my charts while practicing daytrading the futures market. I don't know if they are helping or hurting with my entries. Alot of times i will not enter a trade because they are right near price and price will go right thru them. I also plot yesterdays high and low and get mixed results with those to, they seem to cause indecision and result in bad entry's.
Are the 50sma and the 200sma support and resistance on intraday charts?
- Thread starter ceaser
- Start date
I don't like them on the futures charts but do like them on the intraday Index / ETF charts such as SPY (i.e., only regular market hours).
They can be as any number of things can be support or resistance, all of which occur under varying technical conditions. The way to find out if any provide you an edge and under what conditions requires extensive observation, study and testing. You will learn little by asking such questions on an open forum where at least half those responding won't know their ass from their elbow.
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NO;
not really like a 200day moving average is .
200+ 50 week can mean more than 200dma;
for the same reason most could earn more in 200 weeks than 200days
Leverage can hurt much more than ANY indicator, especially when learning + when the trend changes.
Leverage can cause bad entries + exits, even more so when they foreclose on a home + you get sued for the balance owed ..........................................................................................................
"Believe none of what you hear and but half of that you see" old quote.
Do your stats. Does this concept work in your hands?
https://www.babypips.com/learn/forex/dynamic-support-and-resistance
What timeframe charts do you like to look at?
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A serious question, that includes one of your other questions;
if some one showed you 2 stocks, [with 200 dma ,just because we like them] like COP+ OXY+ which one would you have liked to hold YTD[year to date]??
OK which one??
Hint, COP lost money/OXY made money+OXY made much more money in 2022 which was not even part of my question.
For educational purposes only; not a predictionor stock tip + sure not get rich quick.
Daytrading is not get rich quick; even though most in USa are already rich.
IF that makes no sense, do it for about 10 years; it may make sense in 10 years.
By the way SPY benchmark made money YTD;
did you make anything even with daytrade futs sim YTD ??[I guess you did not; but thats ok because a simulator is not real trading @ all]
