Do you Believe in 4 hr/Daily bars? 22 replies
Do you believe in EA trading? 53 replies
Do you believe in divergence? 11 replies
Do you believe in nest trading words... 0 replies
DislikedOriginally Posted by Tornado http://www.forexfactory.com/images/buttons/viewpost.gif
When I first started out 3 years ago a family member of mine who has been FX trading for Barclays Capital in Canary Wharf, London for over 15 years told me to only look at Support & Resistance, Price Action & Fibonacci. My response was ‘How am I going to make money with JUST that, It can’t be that simple,Ignored
DislikedThat's very good, Scrat. I tend to believe the same thing.... that the market never \"lingers\" but is rather extremely efficient....
And things that appear to be support and resistance are really just coincidence.
Well, to each their own.Ignored
Dislikedwhy not? as long as i can bank i money to my account. we don't trade the market, we trade our belief system. think about it.
cheers..and have a great trading day.Ignored
DislikedIs it a myth,Ignored
Dislikedor is it a legitimate measure of price prediction?
DislikedI'll give ya a hint. Put potential infront of either support or resistance. There is no such thing as strong, weak, extra damn strong etc etc s/r. There is only potential since we never can know the outcome in advance.Ignored
DislikedSeen any others around lately ? Wouldn't call myself a disciple but I've learned a lot from him, yes.Ignored
DislikedI did see his name mentioned around FF somewhere and that's why I got the book. I'm forward-testing one particular part of his thinking at the moment and so far so good.
But you do need patience and that's in short supply for most noobsIgnored
DislikedIf you can't find it, zoom out to the next higher time frame. Support and Resistance do exist. In fact, most people use them incorrectly, thinking they are pip-perfect. For example, if 1.30 is support, just because it breaks down to 1.2990 does not mean it broke. They are best thought of as \\\"zones\\\". Do they 100% of the time? Of course not, this is why we wait for price action as well.Ignored