Why support becomes resistance

[Stockie]

Going off topic here, sorry, but we are 12 pages in... and already off topic.

Quote from Rorschach_test:

that Hershey guy is the fount of market knowledge.those calling him a prick just stupid c*nts!

Or put another way...

The man is a master in his field. I recognise it.

However, so often in life, what happens is that no sooner does a genius appear, that all the dunces in the world conspire against him (Appolinaire).

I sympathise totally with the man and can only observe in wonderment how it is that he can persist in being so generous with his extensive knowledge despite persistent attack from everyone but the truly knowledgeable.

He is an old boy who makes his statements on a take it or leave it basis. I am sure he does this in the full knowledge he will be pestered with questions and criticism, yet he reveals everything, but it is so advanced that very few are able to grab it or to realise the worth of what he says in his posts.

I have often brought the risks in doing so to his notice, and that he ought to be more reticent and not discuss in public forums what ought not to be discussed in the way he does for everyone and his cat to read, yet he persists.

I must additionally comment that his generosity in this regard is truly unbelievable.

- posted by SOCRATES on T2W

 

[pinkman]

Quote from babe714:



Next phase: just hire a stock picking service - tried quite a few , all of them sucked , scam artists period.Morpheus , short boy , many others Traded small , just lost a little

next phase : guru of the month - follow me and learn to trade sometimes for a fee , con artists period , wasted lot of time but just sim traded these, SO many i can't even remember them all , Jack Hershey , Nihabashi , woody , stock gappers , the lion .com. uncle fred , lawyer girl the list goes on

next phase : spaghetti charts, you just have to learn this secret indicator like Woodies CCI and anyone can learn to trade,tried vollume bars, range bars , woodys bars lol,divergences, wasted a lot of time just sim traded these and none worked

next phase : Technical analysis, read some books (EDwards and Magee) and started studying charts and watching S/R levels, not even trading just reading.

next phase : price action- started reading various price action threads like AHG here and Beyond the candles plus James15 over at Forex factory.

 

[Stockie]

Why support becomes resistance:

We support an idea. The idea is shown to be false. The idea is retested (resisted) and asserted to still be false (at least for the time being).

 

[EON Kid]

Quote from cornix:

Self-fulfilling prophecy. It's good that such a thread appeared in "psychology" area, cause technical levels are actually psychological in my view.

they are psychological and logical. Problem is most analyze only with TA logic.

 

[cornix]

Quote from EON Kid:

they are psychological and logical. Problem is most analyze only with TA logic.

TA is derivative of behavioral finance IMO. Meaning correctly understood TA of course (different from belief in magic patterns/numbers).