Good Morning hilmy83, You mentioned some valid points indeed, but we are alone traders not the quants. We do not have their tools and software to compete with them. and do not share with us.
We don't need their tools or software. All we have to do is understand Price TA and trade with our eyes. KISS! The market has clearly shown support for NQ @ 14725 at least FOUR times. As a Price TA trader, what do you do with that info? How simple a concept is that? That's Price TA, KISS!
Good Morning Scataphagos, I AGREE 1000%. You know I support your comments and agree. I am a FAR better trader than a quant or algo. Us retail traders have an advantage over the quants and algos because we see the real time price.
Thing is, if I ask you what's the criteria for a good s/r? 2 bounces? 3 bounces? Obviously there's more to it then just drawing lines or then just "click click" like @SimpleMeLike would say. I'm a TA guy, but not, "use your eyes" analysis kind of guy. So that's why I guess this stuff never really makes sense to me. It's "fugazi". Maybe it's because of my engineering background. They said, engineers and doctors make the worst traders....oh well. But then again, I'm not like most guys...or just lucky? I'm blocking info cause i don't want creepers to look me up. **deleted**
%% Good points MW\NOT that i believe in ''luck'' OCT does tend to be , nickname '' bear killer ''[Stock Traders Almanac] SPY[S&P 500]did a big bear move all year, AUG,SEPT also mostly\ 1974[ Nixon impeachment ] OCT went up about 16%[ much more than ''zero bearing'' LOL '' And last gov stut down/ market went up[Pres Trump] Not sarcasm.
Criteria for good support? ONE bounce. The "start" is all you get to KNOW. After that, you have to play by ear. (I was schooled as a chemist. I'm used to "observing" and then trying to figure out why/what happened.)
Hello hilmy83, Great job on your returns you post. Glad to see returns. Regarding discretionary trading: If your eyes say buy, then buy, if your eyes say sell, then sell. This is why it is called discretionary because the eyes is our discretionary edge. There is no criteria needed, you do whatever your eyes tell you to do. You just do what ever you want to do based on what you see on the chart. It is just that easy.