General Trading Chat / Ideas

Quoting Bk55

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yes you see symtry there aswell like it diggs

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Quoting PokerChip

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{quote} Honestly, when I burned through a pile of my own money, a small fortune to some. I stopped believing in support and resistance lines. I once believed in support and resistance but not anymore. If they work for someone else that's great. But, they didn't work for me then and I'll never use them again. You see it took me years to figure out a system that I can use against those banks so I can take my money back. I needed a system that worked against the banks but for me at the same time. What I know is this, I let the banks set the course...

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Quoting Bk55

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EU Daily mumbo jumbo projection {image}

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Quoting PokerChip

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{quote} What I have learned the hard way is that support and resistance is a myth. The reason any market moves is because big money (mostly banks) will take a side of a trade and move the market one way or another. Retail traders unknowingly are buying a pair while the bank traders are selling the pair. This is how we get to the imbalance in trading. This is why traders get stopped out all the time. They have a name for it, it's called the stop hunt. The traders that work for the banks get a bonus every time they get a certain amount of stops per...

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Quoting Bk55

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support and res is normaly bassed on 3 or more touches yet we rarely see 4 OR 5 it makes you think

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Quoting digger1

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{quote} Lol,, nope just a fallicy ,, you were just told tht ,, lol all a banks got to do is take piddily ass retail trader stops ,,thts all they live for man it all makes sense now ,,

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Quoting PokerChip

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Starting today I'll be watching this pair to see if it will exit the box completing the " M " pattern inside the box. If this doe's happen I'll take a short position. {image}

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Quoting MrBullBear

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{quote} I guess this is a good way to prove your point. But even if you does or dosen't, doesn't mean a thing about support and resistance. Mind you, your blue box plays along with support and resistance, isn't it? But instead of figuring out using "thinking", you found a system(blue box) to just follow instead. Its clever on your part though, and hats off to that. To Jp1, sorry if you found this horseshit or crap. But this is a good discussion for learning. Proving someone's point and ideas. And you can never stop me from asking unless banned to...

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Quoting Jp1

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Im all open to trading discussions, and other peoples style / view on trading, that was one of the points of this thread. But can we please leave these kind of horseshit statements out! Factually a complete pile of crap! But hey, it made me laugh! “The traders that work for the banks get a bonus every time they get a certain amount of stops per month.”

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Quoting PokerChip

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{quote} The blue box is a contracted zone if you will. It's the beginning of a cycle is what it is. A place that is confined for traders that want to roll the dice for the coming day. Once they banks are satisfifed that they have enough of traders on the wrong side of the money the banks start to expand out of this box and the pair starts to range in one direction then do a 180 degree turn to another direction and they do this until the banks have compiled even more traders on the wrong side of the money and they keep on doing this until they have...

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