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

Status
Not open for further replies.
Quote from ESResistance:

That has to be the quote of the century :D

I am going to stick to what I originally said which is if anyone wants to send me their chart with the levels marked up I will happily go through it with them.

Now just for some clarity I ONLY have the S/R levels on my 1hr chart. NO PIVOTS, NO SUMMARY, NO FIBONACCIS OR MARKET PROFILE.

ONLY THE NUMBERS IN THE BLACK "S/R LEVELS" COLUMN APPEAR ON MY CHART. EVERYTHING ELSE IS JUST PART OF MY CONFLUENCE THINKING PROCESS

If you put those numbers up on your chart you will have exactly what I have. I have practically given you my charts, all you have to do is draw the lines at the numbers guys.

Paul - My friend you are thinking way too much, it really is that simple. Just a few lines at the price levels in the black column. Forget all this major, minor stuff for now and keep it very very simple.
More...

I have no idea why it is so hard for anyone to understand your position. Stick to your guns. Some of the questions thus far indicate a complete lack of taking all of 1 minute to read your original post and view your JPEG. I can put up a horizontal bar in 1/2 a second using Amibroker.

Great thread!
 
Hi ES,

you seem to know what you are doing and I love the fact that you are keeping things simple and effective.

However, why the "Paypal Donate" on your blog? You (should) be making a killing on these trades.

Best,
Chirag
 
Quote from c.chugani:

Hi ES,

you seem to know what you are doing and I love the fact that you are keeping things simple and effective.

However, why the "Paypal Donate" on your blog? You (should) be making a killing on these trades.

Best,
Chirag
More...

Simple answer... Someone else manages the blog, and I thought this would be a good way for him to receive some remuneration for his "efforts".

I will ask him to remove the link, as I dont want it to bring out the negative nancys looking for an angle to try and damage a good thing.
 
Ok Ladies and Gents!

Todays numbers! Please bare in mind that it is non-farm day and everything gets a bit wild.

Also I had a hard time putting together todays numbers because the market has been so crazy and ive had to tap levels from a little while back.

Enjoy!

EDIT: Please view these numbers as an area to watch and as always...Only trade if you have a setup according to your system!
 

Attachments

Quote from ESResistance:

Simple answer... Someone else manages the blog, and I thought this would be a good way for him to receive some remuneration for his "efforts".

I will ask him to remove the link, as I dont want it to bring out the negative nancys looking for an angle to try and damage a good thing.
More...

ES

It is your blog, you just run it the way you want to.

You are effectively posting levels of market memory... the concept that a sufficient number of strikes placing large size at or near memorable levels can and does turn price.
This is incomprehensible to most people.

I think that it is the sheer simplicity of the concept that is major hurdle.

regards
f9
 
Quote from fearless9:

ES

It is your blog, you just run it the way you want to.

You are effectively posting levels of market memory... the concept that a sufficient number of strikes placing large size at or near memorable levels can and does turn price.
This is incomprehensible to most people.

I think that it is the sheer simplicity of the concept that is major hurdle.

regards
f9
More...

Appreciate your comments f9 :)

And totally agree...Everyone wants this to be hard...it really doesnt have to be.
 
Quote from ESResistance:

Appreciate your comments f9 :)

And totally agree...Everyone wants this to be hard...it really doesnt have to be.
More...

ES

Good luck to you Señor, you have more patience with the mob than I do.

regards
f9
 
When you place the trades onto your broker platform, how do you accomplish this with speed and accuracy ?
Are trades placed manually using computer key board or does your computer do this with some sort of program ?

Do you find the repetitive nature of trading or maybe the constant data inputting hard work ?
 
Quote from ljmlmvlhk:

When you place the trades onto your broker platform, how do you accomplish this with speed and accuracy ?
Are trades placed manually using computer key board or does your computer do this with some sort of program ?

Do you find the repetitive nature of trading or maybe the constant data inputting hard work ?
More...

I use the Ninja Trader Dome for order entry. Its very easy to use and you can enter a trade with a single click. I have never entered a trade using a keyboard.

I LOVE what I do, I find trading very enjoyable and satisfying. The only "hard work" is the S/R analysis and that only take a few minutes.

I view trading as a business, I keep journals of every single one of my trades. I constantly make notes throughout my trading day of things that I have noticed and need to improve. If I have a loss I spend lots of time analysing that loss and trying to learn from it. Many people try to brush their losses under the carpet. I think that is wrong, embrace the loss, you will learn so much everytime you lose and it will help improve your trading.

Losses are your friend! Learn from them. This is true in life as much as it is true in trading.

Trading is an Evolution
 
Hi ES,
I can understand the concept of upper and lower levels of a consolidated area and how to trade this.
But I can not understand the many levels during the trading day you use. That's why I asked you to put few screen shots.:confused:

Now I can not understand one more thing:
To whom is intended your blog site? If this is intended to you mainly (and to some other successful traders maybe) - then I find it quite good one. Only you and few others understand this.

But if this is intended to the public - I doubt that there is some use of this. You'd better save your efforts.:cool:

Basic principal of the marketing: when you do something - do it to be useful for the ones to whum it is intended. Otherwise - it has no meaning ...
 
Status
Not open for further replies.
Back
Top