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

Status
Not open for further replies.
Quote from NihabaAshi:

Hi epetrov,

There are dozens and dozens of diferent ways to come up with Support/Resistance lines or zones.

Some folks use simple or complex mathmatical calculations (many free programs on the web for such and some proprietory).

Other folks don't use math but use visualization of where they thought there was a key change in supply/demand (e.g. swing point).

Thus, I suspect your question is how is the OP (ESResistance) deriving his s/r level???

Also, the OP has use the word setup in this thread many times without explaining what is his trade signal.

Therefore, he's only taking trades at a s/r level when/if his setup (trade signal) appears.

A setup could be any thing like a simple chart pattern, time & sales analysis et cetera.

Thus, it seems like your other question is what are the setups (trade signals) he's using???

Yet, as I continue to follow this thread, the OP has now stated he's just relaying the info from someone else that's computing the information.

Therefore, we now know the s/r levels are determined by someone else but I'm not sure if the setups (the trade signal details not discussed so far) belong to the OP or belong to this other person that writes the blog.

Simply, the OP may not be allowed to disclose the calculation of the s/r level nor the setups (trade signals).

Hopefully the OP can shed some light on the above.

Mark
More...

Hi Mark,
I think that you got my point to the top. With this and the next comment...
Just repeating that the trading can be very symple is not enough. (BTW I agree with that. The difficult part is to get there)
Cheers.
:)
 
Market moved to the 35.00 area with a high of 34.25, I did have a decent set up and had a limit at 34.50 but was not filled.

Patience is very important...

We only need 1 to 2 good trades a day to make a great living.
 
Quote from fearless9:

ES

Seventeen pages by my count before the knee trembling accusation of "paper trader" was tabled.

Probably not quite a world record for ET but all in all a personal best for you no doubt.

regards
f9
More...

Hi f9,
where did you see any accusations? Who is the paper trader there? I think that Mark made some very good questions and remarks.
How to define the support/resistance levels - that's clear now. By visualizations.
Whay is the OP's setup - whis will become clear.
So the thread is a good one then.
I asked few questions and made some reparks - ONLY to make it useful to the users.
Go on and kep smileing ...
 
Finally got a trade in today!

Took an S at 25.75, first 2 targets filled holding the runner.

Covering runner with 1 point profit as market seems to want to go highe.
 
Quote from ESResistance:

Finally got a trade in today!

Took an S at 25.75, first 2 targets filled holding the runner.

Covering runner with 1 point profit as market seems to want to go highe.
More...

Why do you say it seems to want to go higher? what else are you looking at??

looks more down from here to me.

btw, nice trades!

ps ignore the handle 'bighog' if you know what's good for you.
 
Quote from killthesunshine:

Why do you say it seems to want to go higher? what else are you looking at??

looks more down from here to me.

btw, nice trades!
More...

Higher...meant just enough to take out my stop. Very short term view.

I am very religious in my stop usage. Ive found that when I use a mental stop I end up wishing and hoping on the trade to work, and take bigger losses.

I keep my stop tight because I want the market to react with a bang at my levels. If I am wrong the market will tell me straight away.
 
Ok im an addict lol!

Long from 18.50, the 18.00-18.75 area has produced a nice lil bounce, first 2 targets filled and just managing runner.

nice way to go into the weekend.

EDIT: Runner taken out BE

bye all.
 
Status
Not open for further replies.
Back
Top