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MightyOne
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Re: The "Zero Sum" Business

Postby MightyOne » Mon Dec 15, 2008 1:39 am

razorboy wrote:If support and resistance exist in the minds of enough other traders - they manifest themselves in reality - that is really the only thing that matters - other people believe they exist - doesn't mean anything to me other than a good entry point


TheRumpledOne wrote:
MightyOne wrote: Behold!

The truth behind support and resistance!




The truth?

"THERE IS NO SPOON.

IT IS NOT THE SPOON THAT BENDS. IT IS ONLY YOURSELF."

THERE IS NO SUPPORT AND RESISTANCE, SUPPORT AND RESISTANCE EXIST ONLY IN YOUR MIND.

I am NOT JOKING!

The H1 chart people tell the M1 chart people that M1 is all noise.

The D1 chart people tell the H1 chart people that H1 is all noise.

The W1 chart people tell the D1 chart people that D1 is all noise.

H1, D1 and W1 are all CONCEPTS that exist only in YOUR MIND.


When I show you some thing I am only showing you how I see things and what things I consider before placing a trade.
If you think I use voodoo then don't pay any attn to what I say.

I saw some traders having trouble making money an I made an attempt to explain how I observe price action and combine it with TRO's methods.

Again, the main idea is not support and resistance.

The picture I want you to see is traders of different time intervals HOLDING onto their positions when they are in SIGNIFICANT PROFIT.

See the entries of the various traders in your mind

See see them sitting with a handsome profit.

Trade using TRO's methods to their "Zero Line" ie their "I gave it all back"

Or do none of these things! I don't care!

...This is just what I do!

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MightyOne
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Postby MightyOne » Mon Dec 15, 2008 1:44 am

TheRumpledOne wrote:Image

I modified the Level Sensor Indicator to use 2 colors. I added an input that tells the indicator at what level to change color.

I have the default at 50%. So if most number of "hits" on a price was 100, then if a price had move than 50 hits, it would be colored.

This is similar to MARKET PROFILE but it doesn't use volume.

This might help you SEE something about price.


I'm a little confused...

Hits as in trades through that price for the time period used?

pierre23
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Postby pierre23 » Mon Dec 15, 2008 2:14 am

Yes, I think that's what he means. So it crosses x.xx so many times within the time frame (in his chart, Monthly) and it'll change colour at 50% based on the 'most number of hits'.

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Re: The "Zero Sum" Business

Postby razorboy » Mon Dec 15, 2008 3:14 am

When I was referring to sup and res, I was referring to the impact of sup and res from higher time frames on lower level, not the support and resistance levels within the same time frame

A resistance line can be created by one of two things - either no one wants to buy at that price or above or no one wants to sell at that price or below - SL's and entry orders accumulate above and below the line - assuming that the higher the time frame that this level is also acts as resistance level, the greater the significance it will have on price action on the lower level.

At some point price drives up - triggers the SL's and resting orders - increasing demand - people watching various time frames pile in............up price goes

That is what I see

The picture I want you to see is traders of different time intervals HOLDING onto their positions when they are in SIGNIFICANT PROFIT.

Doesn't that create support and or resistance? or does it create just the oppostie

MightyOne wrote:
razorboy wrote:If support and resistance exist in the minds of enough other traders - they manifest themselves in reality - that is really the only thing that matters - other people believe they exist - doesn't mean anything to me other than a good entry point


TheRumpledOne wrote:
MightyOne wrote: Behold!

The truth behind support and resistance!




The truth?

"THERE IS NO SPOON.

IT IS NOT THE SPOON THAT BENDS. IT IS ONLY YOURSELF."

THERE IS NO SUPPORT AND RESISTANCE, SUPPORT AND RESISTANCE EXIST ONLY IN YOUR MIND.

I am NOT JOKING!

The H1 chart people tell the M1 chart people that M1 is all noise.

The D1 chart people tell the H1 chart people that H1 is all noise.

The W1 chart people tell the D1 chart people that D1 is all noise.

H1, D1 and W1 are all CONCEPTS that exist only in YOUR MIND.


When I show you some thing I am only showing you how I see things and what things I consider before placing a trade.
If you think I use voodoo then don't pay any attn to what I say.

I saw some traders having trouble making money an I made an attempt to explain how I observe price action and combine it with TRO's methods.

Again, the main idea is not support and resistance.

The picture I want you to see is traders of different time intervals HOLDING onto their positions when they are in SIGNIFICANT PROFIT.

See the entries of the various traders in your mind

See see them sitting with a handsome profit.

Trade using TRO's methods to their "Zero Line" ie their "I gave it all back"

Or do none of these things! I don't care!

...This is just what I do!

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MightyOne
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Re: The "Zero Sum" Business

Postby MightyOne » Mon Dec 15, 2008 5:08 am

Not support and resistance, but a vacuum in which nothing exists to trade to lower/higher prices (traders are zero lined and devoid of profit).
In a place where every one is risking 1-5% the thunderous moves for fat profits are made through evaporating profits not accounts blowing up.


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Re: The "Zero Sum" Business

Postby MightyOne » Mon Dec 15, 2008 5:13 am

razorboy wrote:When I was referring to sup and res, I was referring to the impact of sup and res from higher time frames on lower level, not the support and resistance levels within the same time frame

A resistance line can be created by one of two things - either no one wants to buy at that price or above or no one wants to sell at that price or below - SL's and entry orders accumulate above and below the line - assuming that the higher the time frame that this level is also acts as resistance level, the greater the significance it will have on price action on the lower level.

At some point price drives up - triggers the SL's and resting orders - increasing demand - people watching various time frames pile in............up price goes

That is what I see

The picture I want you to see is traders of different time intervals HOLDING onto their positions when they are in SIGNIFICANT PROFIT.

Doesn't that create support and or resistance? or does it create just the oppostie

MightyOne wrote:
razorboy wrote:If support and resistance exist in the minds of enough other traders - they manifest themselves in reality - that is really the only thing that matters - other people believe they exist - doesn't mean anything to me other than a good entry point


TheRumpledOne wrote:
MightyOne wrote: Behold!

The truth behind support and resistance!




The truth?

"THERE IS NO SPOON.

IT IS NOT THE SPOON THAT BENDS. IT IS ONLY YOURSELF."

THERE IS NO SUPPORT AND RESISTANCE, SUPPORT AND RESISTANCE EXIST ONLY IN YOUR MIND.

I am NOT JOKING!

The H1 chart people tell the M1 chart people that M1 is all noise.

The D1 chart people tell the H1 chart people that H1 is all noise.

The W1 chart people tell the D1 chart people that D1 is all noise.

H1, D1 and W1 are all CONCEPTS that exist only in YOUR MIND.


When I show you some thing I am only showing you how I see things and what things I consider before placing a trade.
If you think I use voodoo then don't pay any attn to what I say.

I saw some traders having trouble making money an I made an attempt to explain how I observe price action and combine it with TRO's methods.

Again, the main idea is not support and resistance.

The picture I want you to see is traders of different time intervals HOLDING onto their positions when they are in SIGNIFICANT PROFIT.

See the entries of the various traders in your mind

See see them sitting with a handsome profit.

Trade using TRO's methods to their "Zero Line" ie their "I gave it all back"

Or do none of these things! I don't care!

...This is just what I do!


I think that we are pretty much saying the same thing just in different words :wink:

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MightyOne
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Buzzard!

Postby MightyOne » Mon Dec 15, 2008 6:53 am




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MightyOne
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Not Quite Buzzard :(

Postby MightyOne » Mon Dec 15, 2008 7:30 am

Notice how price hits the last red line and trades lower.
That is because there wasn't enough profit built up to avoid the snap back.


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MightyOne
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YES! I MADE IT!

Postby MightyOne » Mon Dec 15, 2008 9:11 am

It has been 4 days since I started reading this thread and I just made to the end!

that said...

Now I can start going through the countless indicators TRO sent me or even read what a 3 Level ZZ Semafor is! HA!
:shock:

DAILY help us in DAY TRADING?

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Re: The "Zero Sum" Business

Postby razorboy » Mon Dec 15, 2008 11:05 am

I thought so - part of the problem with the internet.
For a while I was placing orders in between the support and resistance of the current time frame - typically the 5 minute chart - as I figured there would be "lots of air" there. Would sometimes work, but not consistently. Then started using the higher time frames - worked better - i suspect because the magnitude of the moves were larger

MightyOne wrote:
razorboy wrote:When I was referring to sup and res, I was referring to the impact of sup and res from higher time frames on lower level, not the support and resistance levels within the same time frame

A resistance line can be created by one of two things - either no one wants to buy at that price or above or no one wants to sell at that price or below - SL's and entry orders accumulate above and below the line - assuming that the higher the time frame that this level is also acts as resistance level, the greater the significance it will have on price action on the lower level.

At some point price drives up - triggers the SL's and resting orders - increasing demand - people watching various time frames pile in............up price goes

That is what I see

The picture I want you to see is traders of different time intervals HOLDING onto their positions when they are in SIGNIFICANT PROFIT.

Doesn't that create support and or resistance? or does it create just the oppostie

MightyOne wrote:
razorboy wrote:If support and resistance exist in the minds of enough other traders - they manifest themselves in reality - that is really the only thing that matters - other people believe they exist - doesn't mean anything to me other than a good entry point


TheRumpledOne wrote:
MightyOne wrote: Behold!

The truth behind support and resistance!




The truth?

"THERE IS NO SPOON.

IT IS NOT THE SPOON THAT BENDS. IT IS ONLY YOURSELF."

THERE IS NO SUPPORT AND RESISTANCE, SUPPORT AND RESISTANCE EXIST ONLY IN YOUR MIND.

I am NOT JOKING!

The H1 chart people tell the M1 chart people that M1 is all noise.

The D1 chart people tell the H1 chart people that H1 is all noise.

The W1 chart people tell the D1 chart people that D1 is all noise.

H1, D1 and W1 are all CONCEPTS that exist only in YOUR MIND.


When I show you some thing I am only showing you how I see things and what things I consider before placing a trade.
If you think I use voodoo then don't pay any attn to what I say.

I saw some traders having trouble making money an I made an attempt to explain how I observe price action and combine it with TRO's methods.

Again, the main idea is not support and resistance.

The picture I want you to see is traders of different time intervals HOLDING onto their positions when they are in SIGNIFICANT PROFIT.

See the entries of the various traders in your mind

See see them sitting with a handsome profit.

Trade using TRO's methods to their "Zero Line" ie their "I gave it all back"

Or do none of these things! I don't care!

...This is just what I do!


I think that we are pretty much saying the same thing just in different words :wink:

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Thank you for your support.


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