don't sidestep it the vast majority of futures traders fail.......99.9 of forum posters are blowing smoke......i have all the answers you could dream of in my head.......
by the way, literacy, intelligence is not a prerequisite for being a successfull trader.......the real smart ones are at a disadvantage........
I got one, TQ ... oh, actually i have two questions re YM. 1. What are "give-ups"? Cant seem to find anything at ecbot. 2. And ... Open interest(YM). Going up or going dwn tell you anythin? ...rj ps: Ever toke any cedar bark???
i like cedar bark..........and grapevines........open interest doesn't interest me........market gives up or down or sideways......anymore ...?
Analyzing support and resistance has absolutely nothing to do with 'why' the level in question is support or resistance. We couldn't care less 'why' a particular price level is acting as S or R. It simply is, and those levels are tradable. Just one more tool in the toolbox. This shows that you probably aren't trading real money. Now why don't you admit it - your system is MACD-based, isn't it?
no nik, no oscillators for me.....i do know that certain pivots s/r work very well more often than not.....i don't use them but don't have anything against them really........oscillators like macd, stoch, rsi, %R, etc.....only locks up down when oversold/bought........i simply go with the channels as they turn ......that is why i don't use the short charts either.....for instance, if 5 min chart shows you 12 bars per hr and the 10 shows 6, with increased smoothing, i prefer the fewer bars to see on chart, although i am a totally mechanical trader taking only 2 signals .........which gives signals on most of the bars for scalping or allows me to ride the runs if desired ........almost end to end.......there are no complicated answers....just a few years of study and extremely hard work......
At least we agree on the last part. I assume that since you did not mention your earlier statement that S & R has to something to do with 'why', that you are now stating that S & R has nothing to do with why. This would be accurate, as S & R analysis has nothing to do with 'why' a given level acts as S or R. I notice that you tend to make posts and then if someone specifically asks you about a statement you made, you respond without making any reference to the question that has been asked, as you did here, again... sort of odd.
why is not important.....why does the market go up......who cares.......buy.........the market goes down why? who cares....sell...the market turns at s/r sometimes...why? who cares....it either pulls back as retracement or reversal......who cares.......why it does any of the above......why does not matter.......trading the price action correctly is what matters, not why it is moving........is that clear? this is more of analysis of my comments instead of open minded conversation........so WHY do you focus on me instead of answers......answers are clear...why does not matter..........market turns because supply exceeds demand etc......vice versa......who cares? that is why....it is irrelevant........system never asks me why.....it only says enter..now......