EXTREMELY well said!!! I am very delighted that brains are still alive on this site! Very well said indeed! If you don't mind I would like to ask your permission to quote you in some of my debates. Cheers, MAESTRO
DT, we once had a discussion re. Fib levels, I just wanted to prove a point... I've circled yesterdays high and this mornings low on ã/$ I've also circled where the 23.6% level acted as resistance twice, was taken out on the third attempt and then came into play again as support. A picture paints a thousand words...
Mysteron, remember: Do not loose your open mind I just returned from a small holiday in the wild. I think you and MK are right on track with the levels. Just now to see what levels are important. I think it is where the generals show their hands. The higher frames show this. Also gaps can be placed in this higher frame to understand them.
agree, but day and short term traders make up a significant proportion of the market, so it's worth being aware of which levels they are looking at also. I'm exiting the last portion of my positions too early, any advice anyone?
Just let a part run. Sell in portions. Or better, try to find another level where the market show its hand. The last is ofcourse the best, but maybe better first to build confidence? btw search sam seiden tradingacademy.com. All about supply and demand and where to find it.
thanks, will do. I think it's down to discipline, I'm taking the last few contracts off because they're showing a reasonable profit & no other reason, some psychological trading baggage I need to iron out, I'm cutting losers quick smart tho' thankfully.
Off course i mean theFREE resources archives. FA, you must before the entry, know where to exit, to calculate your risk return ratio. So when you do not know this before you enter, it is like blinded gambling. When you know before entering, it gives a huge mental relieve. You start to see expected direction, the entry range, the stoploss range and the reward range.