DislikedYour post screams novice, why act like you know what your talking about when you clearly dont? Are you on the forum for the purpose of improving your self-image or ego? Is it working?
LeonIgnored
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DislikedYour post screams novice, why act like you know what your talking about when you clearly dont? Are you on the forum for the purpose of improving your self-image or ego? Is it working?
LeonIgnored
DislikedHey mate,
I would urge you to do what I suggest and zoom into a very short timeframe (1m or less), and have a look at price action around the pivot points. You will see that there is a reaction there almost every time. I am not talking about 50 pips, or even 20 pips. It may only be 5-10 pips or even just a time retracement. You will also notice that quite often they will produce a major turning point in the market, giving 20-50+ pips. Then look at the pivot points that coincide with s/r, fibs, 00s and trend lines and you will soon notice that...Ignored
DislikedWhats your problem mate. Just because you think there is one way to trade and one way only doesn't make it so. Open your mind a little buddy. I couldn't care less what you think of me, but it is obviously you that is here for the ego boost by bashing other traders.Ignored
DislikedI have studied every time frame in more than 20 years and most likely when the majority of members had no access to real-time data. I have seen the changes and paradigm shifts happening many times and especially ultra-short term models with their ridiculously low shelf-life.
Having constructed and tested models live and to exhaustion, I have learned a few things. One of them is that with todays technology, funds in particular and banks employ far greater experts in algorithm-programming that you or me could ever achieve with the technical means...Ignored
DislikedFor me, the key is discretion. It is possible to get a rough idea of when the banks will be looking to take out stops. Options expiration and big fundamental shifts are a couple.
I don't use a 5-10 pip profit target by the way. I was just saying that these levels will almost always produce this type of reaction and that is evidence that there are a lot of orders placed at these levels. For me, a 5-10 pip profit target is not practical, for the reasons you have pointed out, but I am sure that there would be a few traders out there that have made...Ignored