I definitely hear you on that. I'm fairly new on here, lurked for a while before posting, but I'm not new to trading. Wrote stat arb program multi-leg arbitrage years ago, made alot, got banned from every broker I've traded with, slowly pissed winnings away on trying to make chart trading work. C'est la vie.
Years on ET does not equate to been smart of confers expertise. Just look at me, still working on my day trading skills after a decade on this site. That is obvious.
I think you have to buy support and sell resistance. If support fails you flip your buy trade to a sell down to the next support. Similarly for selling resistance you flip to a buy upto next resistance if initial resistance fails. No indicators required. BLASH and SHABL satisfied. Most likely more to it than that but in terms of simple business practices like running a used car dealership, all I want to do is buy for lower than I can sell it for after costs have been accounted for.
I’m currently attempting to identify trapped traders and try not to become one of them. I think a lot of people probably act the same for different reasons.
Yes, i imagine trapped traders will get trapped buying resistance or false break outs and selling support. I can see how your method would attempt to address that. Also for traders who rely too heavily on indicators they might overlook something simple like horizontal support and resistance. Good luck with it.
If u do that you will probably lose..but..if u buy when u should be selling..and sell when u should be buying..u will make some money!