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Attachments: Trading for a living using price action @ S&R levels
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Trading for a living using price action @ S&R levels

Dow Jones Daily chart

Price tried to break to the upside the flip of support and resistance, but failed.

Price is almost 100% will continue lower, first to last swing low.
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Dow Jones Daily chart

Price tries to break that area again for the third time, but again failed to do so.

A very strong area which acts as a strong resistance to price.

Again, my assumption is for price to continue downwards.
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Dollar Index (DXY) Daily chart.

Price had hit a major flip of support and resistance and now being stalled at that area.

We have next resistance just above price and support below where is last swing low, great areas to look for trades.
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Quoting TraderXL
Dollar Index (DXY) Daily chart. Price had hit a major flip of support and resistance and now being stalled at that area. We have next resistance just above price and support below where is last swing low, great areas to look for trades. {image}
We have a minor flip of support and resistance on yesterday's high.

Price might stall in that area or even hold and keep to the upside.

Let's see what will happen
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Quoting TraderXL
{quote} We have a minor flip of support and resistance on yesterday's high. Price might stall in that area or even hold and keep to the upside. Let's see what will happen {image}

what about your goal ( to trade for living) ? i hope you have done it.
Quoting Tylerz
{quote} what about your goal ( to trade for living) ? i hope you have done it.
I did it, it took me ~15 years to get to the point where I can make enough money out of the market to live the life I wanted.

By the way, I don't recommend it to any one, this is the hardest job that can be.
Quoting TraderXL
{quote} We have a minor flip of support and resistance on yesterday's high. Price might stall in that area or even hold and keep to the upside. Let's see what will happen {image}
Now... Look at the that.

MAGIC
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Quoting TraderXL
{quote} I did it, it took me ~15 years to get to the point where I can make enough money out of the market to live the life I wanted. By the way, I don't recommend it to any one, this is the hardest job that can be.
very nice, congatulation!!!
Quoting Tylerz
{quote} very nice, congatulation!!!
Thank you Sir
Quoting TraderXL
{quote} Thank you Sir
Sorry but can i ask some questions?

Can i ask how did u bulild your strategy? Did u learn by any mentor?
Can i ask what is your age? And what did u deal with when quit your job to trade?
Quoting Tylerz
{quote} Sorry but can i ask some questions? Can i ask how did u bulild your strategy? Did u learn by any mentor? Can i ask what is your age? And what did u deal with when quit your job to trade?
Sorry i ask only the age because now i am 39, and maybe i am to late to change my profession?
Quoting Tylerz
{quote} Sorry but can i ask some questions? Can i ask how did u bulild your strategy? Did u learn by any mentor? Can i ask what is your age? And what did u deal with when quit your job to trade?
Hi Tylerz,

Sure you can always ask me anything.

I was part of a group, I didn't have any private mentor and in the end, after many years of watching charts and price movement, I had developed my trading style.

What you don't being told is that technical analysis is a tiny part of a traders life, the most important thing is the mental part, If you don't have this, you won't be a trader, period.

How many times did you see people analyze perfectly but can't trade the position? How much time did you see 3 traders in a row negative and changed your strategy?

There is no holy grail, it's all in your head, that's why it took me so long to get to where I'm now.

For your second question, I'm 44. I tried to quit my job twice, first time failing cause I didn't know what it meant to trade for a living. it's a lonely job. you are all alone with the market...

Second time, I was more ready and knew what I have to face.

Hope that helps
Quoting Tylerz
{quote} Sorry i ask only the age because now i am 39, and maybe i am to late to change my profession?
It's never late to change things.

You just need to know what it will take from you doing that change
Quoting TraderXL
{quote} Hi Tylerz, Sure you can always ask me anything. I was part of a group, I didn't have any private mentor and in the end, after many years of watching charts and price movement, I had developed my trading style. What you don't being told is that technical analysis is a tiny part of a traders life, the most important thing is the mental part, If you don't have this, you won't be a trader, period. How many times did you see people analyze perfectly but can't trade the position? How much time did you see 3 traders in a row negative and changed...
nice story, thank you very much for your sharing it.
how many years since are you profitable?
can i ask what is the avarage R what do you produce per month? i dont car the money what do you earn i wonder only how many R do you have avarage in a month?

you mentioned position managment. Hod you do it? are u using traling stop, or TP or what is your concept of your money managment ? i think this the most important part
  • Post #35
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  • Edited 4:11pm Jan 9, 2023 2:34pm | Edited 4:11pm
Quoting Tylerz
{quote} nice story, thank you very much for your sharing it. how many years since are you profitable? can i ask what is the avarage R what do you produce per month? i dont car the money what do you earn i wonder only how many R do you have avarage in a month? you mentioned position managment. Hod you do it? are u using traling stop, or TP or what is your concept of your money managment ? i think this the most important part
I'm profitable for many years but wasn't to a point where I was able to make a living, again, this sums up for placing big bets and then psychology kicks in.

As for the rest, it's hard to answer in text but it doesn't matter because every one will have his own results.

I can say you can make 3-4 percentage per month, if someone is telling you you can double your account in no time or make 10% a day, it's a scammer
EURCAD 2D chart

Sell limit triggered
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  • Post #37
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  • Last Post: Jan 12, 2023 2:33pm Jan 12, 2023 2:33pm
your strategy is the same like in the first post?
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