Indicators are liars! Support and Resistance Trading for the S&P emini

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Hi ESR I would like to thank you for your work and posting your levels, I have been reading through the posts while plotting your levels on my charts and they have been a great help to me. The past couple of days I have been trading them (in Sim) with great results, this may just be luck on my part, but so far they have produced more than enough for my daily goal. Today at the open was a great trade with yesterdays high being tested and a gap up in the market proved to be a great short and could of been held for a gap close or down to your next level.
Many thanks Andy
 
ORDER FLOW around Support/Resistance ZONES (as opposed to levels) is KEY.

I am trading the EUR on 5mins and S/R levels on a 5min if you play the trades right are just as effective as 1h or 4h levels...

just watch order flow. getting a feel for it is what sepparates you from the crowd and your money management / trade management skills are the real EDGE.

there is no trend, no setup... it's all order flow. you can't know in advance if there are orders above of below levels, but you can position for a potential flow, find out quick if there is one, and make a quick decision to stick with the position or discard it while it's still a 0 or an infinitely small loss.

a winner should be something that requires no effort as there is flow, and the only thing you have to do is stick with it, bank some profits and then start adding to that winner.
 
Hey everyone

Having some MAJOR computer problems today, giving me a real headache. I have tried to create the worksheet 4 times, each time with my computer shutting down on me, I think it has some kind of virus but the anti virus is not picking it up.

Apologies for not getting the sheet out, will try to sort this out asap
 
Quote from alex.samant:

ORDER FLOW around Support/Resistance ZONES (as opposed to levels) is KEY.

I am trading the EUR on 5mins and S/R levels on a 5min if you play the trades right are just as effective as 1h or 4h levels...

just watch order flow. getting a feel for it is what sepparates you from the crowd and your money management / trade management skills are the real EDGE.

there is no trend, no setup... it's all order flow. you can't know in advance if there are orders above of below levels, but you can position for a potential flow, find out quick if there is one, and make a quick decision to stick with the position or discard it while it's still a 0 or an infinitely small loss.

a winner should be something that requires no effort as there is flow, and the only thing you have to do is stick with it, bank some profits and then start adding to that winner.
More...

alex,

are you watching order flow through t&s?
 
pretty much yeah ... but here's how it usually goes for me ...
i place an order for a breakout for instance. when the order is taken, i give it about 30 seconds for price to make an advance of about 10 points, and then i trail to breakeven. if it reacts negatively, after 30 seconds, i try to exit as close to breakeven as possible, or even faster....

the idea is that a good trade is one that burns through that level in an instant... no lollygagging... watching the tickchart kinda gives me a feel for those crucial first 30 seconds of the trade....

however, exiting very fast if things go the wrong way, or at least don't go the IDEAL way, is only half of my edge and it concerns cutting losses to a minimum. the other half of the edge is going for the kill when i have a winner (cutting half then adding on the next breakout and so on).

so the edge is all about money management. no technicals.

i just go for all breakouts of intraday meaningful support/resistance, and sometimes even go for the gut feel, but keeping the money management plan intact..
 
Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all
 

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Hey Alex

Thanks for your posts, I am always up for looking for new ways to improve my edge further and am constantly exploring new ways. If you feel that you can add something to the thread and for the wider community please feel free to post more specific examples, you can PM me if you want to do it more privately.

Thanks and good trading.

Quote from alex.samant:

pretty much yeah ... but here's how it usually goes for me ...
i place an order for a breakout for instance. when the order is taken, i give it about 30 seconds for price to make an advance of about 10 points, and then i trail to breakeven. if it reacts negatively, after 30 seconds, i try to exit as close to breakeven as possible, or even faster....

the idea is that a good trade is one that burns through that level in an instant... no lollygagging... watching the tickchart kinda gives me a feel for those crucial first 30 seconds of the trade....

however, exiting very fast if things go the wrong way, or at least don't go the IDEAL way, is only half of my edge and it concerns cutting losses to a minimum. the other half of the edge is going for the kill when i have a winner (cutting half then adding on the next breakout and so on).

so the edge is all about money management. no technicals.

i just go for all breakouts of intraday meaningful support/resistance, and sometimes even go for the gut feel, but keeping the money management plan intact..
More...
 
you're welcome and good trading to you too.
i'm not really that posting/sharing type plus a screen capture of the chart doesn't really say anything about the execution ... only a video might do ... it's very fast.

:(

for example, i took a trade today and i don't know why, probably early morning discipline problems (still sleepy) instead of exiting on the cheap, 10 seconds later i had to cover for a big spanking ... still regreting it.
 
Hi everyone

Please find attached todays levels. The S/R numbers are in the black column, the MP, Pivots, Fibs, Simple Moving Averages and Summary Numbers are for confluence and information.

Always remember to use the numbers as a guideline for potential areas of high probability plays.

Always use a set up based upon your system to enter a trade
.
Good trading all
 

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