Quote from cap'ncod
You've gotta love these guys. As if the magic support/resistance levels are all you need. It's all 'price action', a screaming truism if ever there was one. Prices bounce around alot based on players selling or buying what they think is value. Occasionally the price breaks into new territory and has to establish a new range: if you can catch this extraordinary event you can profit from uncertainty but you have to be damn fast and getting faster.
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Yes, Cap'ncod, price is all I need, let me guess you need 40 indicators to give you the answers, right? You gotta love it because without them, you would be lost? getting close? And you're incorrect in that a trader has to be fast in order to catch or profit from a break of a key support level for example, in fact a trader can be as slow as a snail & ironically profit from this so called "extraordinary event"(as Cap'ncod describes it) when the market is moving down on the daily picture, a trader who is short the market for example understands that key support levels break with great frequency so it's not in his interest to be overly concerned or enthusiastic with buying the market, markets move down when bulls are less influential, the buyers have to make their case compelling & that rarely occurs when markets move down.
And guess who is exploiting this phenomenon? the trader who is short the market, who is IN already & whose interest is not to yield to the buyers anytime soon, you gotta love it, right Cap'ncod? And if your dilemma Cap'ncod is having to be damn fast with each passing day in order to catch these moves, well i would venture to say that the market is being very good at exploiting you. Maybe you should whip out that trading 101 book & brush up on what the principle or falling markets is all about. I have a feeling you'll have a lot of reading to do.
You've gotta love these guys. As if the magic support/resistance levels are all you need. It's all 'price action', a screaming truism if ever there was one. Prices bounce around alot based on players selling or buying what they think is value. Occasionally the price breaks into new territory and has to establish a new range: if you can catch this extraordinary event you can profit from uncertainty but you have to be damn fast and getting faster.
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Yes, Cap'ncod, price is all I need, let me guess you need 40 indicators to give you the answers, right? You gotta love it because without them, you would be lost? getting close? And you're incorrect in that a trader has to be fast in order to catch or profit from a break of a key support level for example, in fact a trader can be as slow as a snail & ironically profit from this so called "extraordinary event"(as Cap'ncod describes it) when the market is moving down on the daily picture, a trader who is short the market for example understands that key support levels break with great frequency so it's not in his interest to be overly concerned or enthusiastic with buying the market, markets move down when bulls are less influential, the buyers have to make their case compelling & that rarely occurs when markets move down.
And guess who is exploiting this phenomenon? the trader who is short the market, who is IN already & whose interest is not to yield to the buyers anytime soon, you gotta love it, right Cap'ncod? And if your dilemma Cap'ncod is having to be damn fast with each passing day in order to catch these moves, well i would venture to say that the market is being very good at exploiting you. Maybe you should whip out that trading 101 book & brush up on what the principle or falling markets is all about. I have a feeling you'll have a lot of reading to do.
