From support to resistance

Maxinger, Is that person still one of your trading coaches? If so, why?

 

It is not me

it was Al Brooks who wrote this in his book and I read it in 2007.

I was impressed with his book.

It took me 13 years understand what was in that book and what I wrote above.

it is difficult to understand genius and so it was not surprising that many traders....including myself, labelled him, quite simply , as a quack.

 

even assuming that S/R works and they all work until they don't, the main difficulty PRACTICALLY in making TRADES is that, the market follows all aspects of technicals, on a variety of time frames, at once, so you have to discern, which time frame, a particular swing or market fluctuation , belongs to.
this is the problem with any or all strategies, and unless you can do this, the only alternative is to have a good risk management ,which is the same as saying that no one has a clue, as to what the f*ck the market is doing.

it took me 13 years and over 100000 to figure it out.

what I am saying is that if you put a 5 min time frame on a chart, some of the fluctuations, will be 'noise', which means it belongs to a lesser time frame, such as 1M 2M 3M 4M and others will belong to a higher time frame such 15M 60M ETC
this is what those 5000 usd courses do not tell you and they send you into a jungle not telling you that some cats are man eaters

 

no doubt
which means you have to sit on your hands 95% of the time.
which is nearly impossible to do.
so you take less than ideal trades.
this is what kills most traders.

 

Often you have to wait hours until a good configuration is presented, not everyone has the patience.

 

onths

I used to hold position trades for 4 months but sometimes be without a trade for 4 months.

that is why I got into day trading but it has been hell

took me 13 years before I got anywhere.

the opportunities are immense, the cost of entry negligible...... so the competition is intense

 

I agree with you with Al Brooks. He has helped me as well with my trading journey.

 

lol I agree with you.

I hate when I hear or read someone says "All you need is good risk management"

 

me too
But our way is much harder to learn, it takes time ...but I do not like to compromise and go on short cuts.

 

also I traded only eurusd for 13 years

that was my biggest mistake

especially since I was losing

I thought if I spent more time I would get to know it better. wrong.....

insanity is doing the same thing over and over and expecting different results.....

I hope you and others do not make that mistake