Another useless ET troll. Added to the blocked list. Bye.
Support & Resistance levels , and moving averages are just meaningless lines on the chart.
- Thread starter wxytrader
- Start date
Another useless ET troll. Added to the blocked list. Bye.
%%
LOL good proof
;@ first glance a 50dma looks ''meaningless'' + useless.
But some use More of alphabet than '' Wxy'' LOL
''M'' means market direction , but that 's a whole book pattern LOL
You should prove they're useless, show how you're using them, and then show your data/trade results to verify you've been using them correctly that had resulted in poor trade results.
Someone may then step up and show you what you're doing wrong.
wrbtrader
Now there's an idea.
I suppose posters are afraid someone will steal their edge that isn't working
%%Now there's an idea.
I suppose posters are afraid someone will steal their edge that isn't working
LOL, can be a grain of truth in that sarcasm
50dma not working much today\ but price edge was is SEPT smacked so much by polar bears\cant complain much even when it seldom moves .
Translation:
I am not prepared to invest any time or effort into studying and testing.
I want people to present me with the work that they have invested their time and energy into.
In order to goad someone into presenting this information to me,I will issue the request as a challenge.
Reminds me of another poster on here from way back,he was the exception to the rule though,probably trading 100 ES contracts per click from some palace in Barbados by now...
%%
LOL
David's Faith did prove him wrong \said quote ''wrong '' unquote
I use m average some\ but a dirty little secret on those \they dont really work \ trader-investors have to do the work.................................................
What a sophomoric statement. Only fools care to "prove" anything to other fools. Is this what the low end has settled on for dialog?
Last edited:
Channels are typically ABC, WXY single or double corrections. The news will align with the wave or visa versa like a self fulfilling prophecy, so basically you can just ignore external factors. You could almost predict the news from the fed wouldn't be good because the wave needed to fulfil this extension. ...I mean I didn't even bother looking for resistance lines because they are meaning less.
I see all these proprietary trading firms bragging on YT about their traders but I am not convinced because from what I see they are basically just trying to scalp the vwap...or play break outs or break downs. This is a very reactionary, and rudimentary form of trading.
Without knowing the wave count you are not seeing the big picture. It was clear (statistically) that xsp was going to blow through all previous support zones on its 3rd wave extension.
Anyway, charting is one thing, but its no holy grail, especially when it comes to options trading. This place is home to some of the most knowledgeable options traders around. You know who you are
With options you can be totally right directionally and still lose money so it is an entirely different animal.
Last edited: