Drawing correct resistance and support-lines

Alright I have stopped and reversed ...the market conditions are changing and my opinion was not the correct one...lost on the first trade was very small

Wait for the NY open Shermenator should see some good action there.

Amis

Seems like this weeks move down had a spike yesterday to it ...SoI am trying to see what direction the market will pop...I never marry a direction I just fallow order flow...If the market start shwoing buying signals and once in the trade it starts showing it is recieving orders in the other direction it means the market is attempting a shift . Though I normally do like to reverse during the new york session but since I preety much just lost spread I still see this as my first entry amd do see strong signs of a range yet...

Point taken Shermenator.

Personally I'm waiting for a breakout on 3 Pairs Cable, Euro and E/J if all goes well NY/EU session should just give me my breakouts.

Airmos

Alright I have now moved my stop to a little past break even so I cover the little loss of the previous trade. This position was heavier as well....

If the market takes me out at break even for the day I will back off the market and wait for it to clear itself up again untill it moves and establish its direction once again. So option one is go up timeframes so you see the picture clearer or wait for a move to take place and the market shows what yesterdays move was. As well as if we reverse again right now we are in a tight wedge and stuch between 2 fibbs in the market.

Alright I have closed at 2 pips overall for the night ....so I will back of the market untill it clears itself. What matters in trading is winning every month not every day. The market will only give you money when it wants to , so learn to understand when the market is not ready to pay you and back off. This is the only way I have been able to trade as a fulltime trader.

i believe it's a worthwhile & fulfilling project.

I am in !!

please do

I will wholeheartedly enjoy it. I am sure of it.

Hi! I´m pretty new on this although i´ve been in demo for a year, and after having my charts full of indicators, ea´s, and other stuff i´ve realized thanks to your post and other similar (BRV 'No Brainer' S+R Trading) that the best it´s to keep it simple. The next month i´ll open an account to go on live, and this is the system i´ll use to trade, so, if you open a new thread as you said, please let us know here so i´ll be able to go on learning. Of course that if there´s anything i can do to help i´ll do, and once i´ll have my real account open, i´ll start posting some charts.

Thanks again!

Juan Manuel.

PS.: Sorry for my English, i´m from Argentina btw.

good trend line

Thanks for sharing..

Support and Resistance charting is an art that requires great skill. I hope these indicators can help.

I think trendline is better when it is drawn on time frames like 15 min,30 min,1hour,4hour and daily.I don`t use trendline on 5min,weekly or monthly charts.

Pleae can you help to code an ea for the method in the thread below? http://www.forexfactory.com/showthread.php?t=170790

Thanks

Shame this thread dried up and/or didn't continue under the new name...

Funny I was just wondering the same thing. It looks like most of the posters here moved on to Igrok's thread, I guess I didn't get the message.

Igrok's and my journal

I liked the introduction of the thread back then. Wondering how far your way of using/drawing trendlines has changed over time aediaz1.

Greetings

Hi guys and sorry for the delayed respond! I have not forgotten my "promise"

We are currently developing a new site dedicated for the most efficient method I have found so far regarding technical analyze. As many of you know, I have been on constant search for the most profitable method available for the last few years and I could finally finish my research when I stumbled upon Igrok's method some time back.

There are many reasons why I want to assemble this on a private site. Some of the reasons are:

 

1. 100% selfishness! I'm working in a finance-company where a lot of my colleagues have shown great interest in fx speculation and in this particular method. I don't want to guide them or potential investors toward a thread on a forum. When it comes to investors, I just want to use the site as an introduction.
2. I had tons of requests, both from FF and real-life, how to trade in the spot fx marked. I don't believe a thread with all the info I'm thinking of putting into this project would gain its fully potential on a thread here on FF. I want to break it up into sections, ranking patterns from novice to complicate. Sorry FF.
3. "Are you planning to charge money for this, you bastard!?" Damn, caught in my own -reasons- for a private site! An associate of mine is taken all the cost establishing a site, so I have no costs (if you just die to know why someone would take that cost, I'll explain why). I cannot imagine that an internet-site can be more profitable than trading, but by all means, if this site gets 1000’s of followers, I will most likely find a way to compensate for my time.

With some luck, maybe this method will fit perfectly for someone talented out there and suddenly we are a couple of more people using this method together, sharing ideas and setups. Nothing would please me more! I love everything with fx trading, except my own company lol. Luckily, I'm not alone anymore, I have a bright friend of mine in real-life who are as serious as I am making trading our full-time work. Online, I have shared most thoughts and ideas with Belekas, who I hope to see around too.

There you had it. Those are some of the reasons and I do not feel I have to excuse my decision more than I already did. My estimates getting this on-foot are a month or two. Meanwhile, I’ll try to post some more charts while I have the time.