support and resistance

How do you effectively use support and resistance levels in your trading strategy to maximize profits and minimize losses?

 

I used to draw thousands of SR lines after being taught by the
trading coaches (actually professional talkers).

Now I have none of it.
Now my charts are very simple and plain and not crowded at all.

Happy drawing lines and rays and butterflies and bands and waves and those things.

 

How do you effectively use advice/suggestions from forum members in your trading strategy to maximize profits and minimize losses?

 

What's left on your chart having removed the majority?

 

Not again... Don't you ever read any trading books? All of the questions you've asked thus far are extensively covered in most Trading 101 books. Now go read!

 

Just the candlesticks and zig-zag line.

 

I havent encountered that one before(with anyone vouching for it I mean).

Ill play around with it.

Thanks.

 

You should know that intraday candlesticks are only a distraction as they are pure garbage in meaning of no predictive value at all. Also idk why you still need a zigzag line ?.

 

I too prefer them over a bar chart,without relying on them too much as predictive indicators.

TR,if you care to participate,if you culled the noise on your chart down to 2 or 3 items what would be left?

 

A simple bar chart (without anything else) is plenty enough for me. Mostly I do not care about charts. I look at the tickers, actual quotes from various instruments more.