Trading Support Resistance | Forex
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http://www.stock-market-strategy.com/using-support-resistance-in-trading/ In this video we teach you about which kind of support/resistance exists and how to spot them on your charts. We also talk about how support/resistance are zones and it is important to realize that. Last but not least we cover the importance of knowing where your immediate support/resistance levels are. The different kind of support/resistance is: Swing High/Low What were support becomes resistance and vice versa Gap Fill Moving Average Prior Day High/Low Round Numbers Some of these levels/zones are stronger than others and it is important to know the differences between the types. Visit our site for more videos and articles on stock market education http://www.stock-market-strategy.com/education
Comments
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good and informative
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i clicked the like bottom after first 20sec......your confidence was looking good and at last felt i learned the important thing
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I like your ideas for sure. I developed very accurate levels that likely turn the market every day. I developed a formula that shows where the market should turn on a daily basis. When these line up with and have confluence with other levels like the ones you are speaking of here, you get a really great trade!
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to the guys who say pro traders only make 20-20% thats true, but yes you can make a fortune from trading a small amount, funds dont tend to use much leverage, if your trading with a 1:200 leverage with 1000 that gives you 200000 10% of that is 20k
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be like water my friend
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Do u base the support and resistance on daily chart?
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personal expereience in forex. stops are good 10 pips ahead of round number ie: 1.3000 level take profit at 1.2990 (count 2 pips for spread cover 1p for caution) so better off puting 1.2987 as TP.
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Thanks alot.
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Thanks for the awesome video. Happy trading and Happy New Year :)
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(happy new year btw) I'm personally planning to start either with a 15 or 25k account.But i'm not even gonna bother as long as i'm not confident with what i've learned.(and it's also useless if i'm not profitable on a demo).I'll probably try the demo in a couple of months or so...There's so much to learn though. Some interesting strategies i've spotted here & there...All stars have to be aligned in order to have a decent win ratio...This , plus money management. Anyway, thanks for responding
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Yes you are correct. Anyone making 20 or even 10 % a year should be happy. Do not change something that is working. And yes. It depends on your account. Trade next to your job until your account is big enough so you can make a living trading.
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No I am Danish but you are not the first who thought that.
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btw ,i forgot to ask you guys, when you say you're profitable...Are you making over 10% per year (or months) ? From what i understand , most professionals consider that a trader who consistantly makes over 20% returns , is already amazing. Are any of you guys able to reach these numbers ? I guess "getting rich" also depends on the size of your portflio. If you're able to be consistent with a 20 or 50k account at 10%...it's a good start. But you'll need to have more patience with a Micro account
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I know,i'm not deluded.I've seen the millions of cretins who think this is the holy grail.I guess i've fallen into the trap.Well,sort of. I have yet to lose a dime on forex.I haven't even tried to place trades on my Mt4 for free (in demo).I don't want to be part of the 90%.Right now, i'm stuck at the learning phase.Once i'll assimilate how money management , price action work, only then , will i even bother trading on a demo account. I guess people have unrealistic expectations.
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Hi It is not a stupid question. Yes I/We are profitable however trading is not a get rich quick thing. First of all long term trading is by far our best thing. Our hit rate and profitability is significantly better than Day Trading. This is why we recommend that you start with long term trading before starting with the tempting Day Trading. Do not get tempted by the fast money because stats shows most Day Traders lose money.
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are you profitable ? (i know it's a stupid question...)
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We personally use 50 and 150 MAs but like I mentioned in the video around 6 min mark you have to make sure that the MA has worked prior as support/resistance.
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hi, Which Moving Average do you use for a dynamik S/R
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We use TradeStation now because of a great offer TradeStation is offering our members. We have used TradeStation prior to that and is a great platform for both long term trading and short term trading. We trade all time frames as for example a day the 5 min might give us a high odds trade and 1 week later perhaps the hourly chart gives us a setup. We adapt to the market.