[quote=stevexyg;6378001]
The market does not and will never change. Traders are people with fear and greed and orders will always stack up in the same places. Some methods are more or less profitable with changes in volitility and some methods do lose their edge over time. This will be a controversial thing to say but I believe that those are not trading methods but gimmicks. Can you make a lot of money with a gimmick? Sure just ask Richard Dennis. Just don't ask him what happened to his money when the gimmick ran its course. (He lost a lot) People have made millions with the method I use all the way back in time. You don't even need charts to do what I do only prices to transact at. Trading in its simplist form. Its not for everybody. Some people cannot pull the trigger without some form of confirmation from some combination of indicators. I won't deny that those methods can be profitable in certain market conditions. The question is, can they work over thousands of trades.
Levels work in chop. Levels work in trend. Levels even work for most news events. I trust what works.
I the past ten years I would say the biggest change has been the loss of the big trends. In the current market environment you need a method that deals well with chop. The daily ranges are puny compared to just a few years ago.
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In only 9 pages I think you've done an excellent job SP of showing a way to approach the market. Like you say not everyone will trade this way but your insights are not specific to this way so it is a broadly helpful thread I would say with great little gems which I'm sure have not been discovered overnight. Having been around 10 years have you any observations about the changes in the market over that time? Could you have traded this way 10 years ago? The markets don't seem to trend like they used to but do they react...Ignored
Levels work in chop. Levels work in trend. Levels even work for most news events. I trust what works.
I the past ten years I would say the biggest change has been the loss of the big trends. In the current market environment you need a method that deals well with chop. The daily ranges are puny compared to just a few years ago.