Rewind Back 15 Years

[padutrader]

There is a guy on youtube who says that everyone can see what you see in price action. So if you see support, guess what, everyone else sees it too.

sorry i keep making emotional trades....i may be eventually right but the idea is to make money ...not be right.

i think i am a scalper at heart ..but a scalper who does not know the target

so i get what you are saying and i pray, you will implement what you are saying.

 

[padutrader]

There is a guy on youtube who says that everyone can see what you see in price action. So if you see support, guess what, everyone else sees it too.

please do remind me what i should be doing.....thanks for dropping by

 

[nooby_mcnoob]

please do remind me what i should be doing.....thanks for dropping by

I have no idea lol.

 

[padutrader]

I have no idea lol.

i was depending on you....but anyway have a beer on me

if you trade forex buy eurousd....you will make 100 pips from here

 

[themickey]

There is a guy on youtube who says that everyone can see what you see in price action. So if you see support, guess what, everyone else sees it too.

Ya, in stocks for example, frequently support and resistance are violated, then correct after that point.
The days of conventional S/R rules are over imo, hence why setting stops right at these levels is now a losing game.
However I've never seen S/R levels work at all on fx, never, but stocks it used to.
Fx works better imo on round numbers.

 

[nooby_mcnoob]

Ya, in stocks for example, frequently support and resistance are violated, then correct after that point.
The days of conventional S/R rules are over imo, hence why setting stops right at these levels is now a losing game.
However I've never seen S/R levels work at all on fx, never, but stocks it used to.
Fx works better imo on round numbers.

I've made a synthetic S/R in FX that has a 75% probability that price will close above/below this S/R. It's kind of scary that it works in my manual tests (read: charts) but requires manipulation of some weird things:

1. A global definition for trading "midday"
2. Cross-currency pair prices in relation to each other (so combining USDJPY and USDCAD for example)

So when I put these two things together, the probabilities for the S/R work out to be 75% probability in the long case that the pair closes above the support and 75% below the resistance for the short case - they are inverted cases of each other.

It requires some number crunching and the perspective of a retard so I guess that's why it isn't obvious. It probably won't work in real life, don't worry.

But otherwise yes I agree with you that S/R is a done game. Now it's a stop hunter's paradise.

 

[padutrader]

conventional

why does anything go to support or resistance? market will go where the liquidity is ,where the buyers and sellers are.

buyers once they buy put a stop loss usually below support which is the price buyers bought....they will not buy again...but their stop is there below support

 

[padutrader]

there are so many resistances and support....every bar's high is a resistance

 

[padutrader]

i have now decided to forget learning to trade and trade to make money.

What does this mean? it means only trade when the probability of success very high.

 

[padutrader]

sold audusd at.69700 stop .69736 with trend entry so it may work