aliassmith wrote:prochargedmopar wrote:aliassmith may be a master of zeroing,
But he's a rare breed considering the amount of traders ON THIS PLANET.
Otherwise there would be NO money!! LOL
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Price is moving from liquidity to liquidity.
The market is a negative sum game
If price is moving from entries to exits back to entries then one must figure out how/when to exit before it comes back to entry
Or enter at the zero
Or a combination of both
Exiting is as important of a skill as Entering
"Price is moving from liquidity to liquidity."Mighty:
"Can you imagine placing a trade to profit in a direction where there is almost no money left?
Consider that a professional will risk 1-2% of his account.
This means that when price moves a number of pips that equals ~2% of his account that he is out of the market and NO MORE of his money can be gained by any other trader.
So where do your massive profits come from?
The answer is the medium and long term traders who are IN PROFIT with medium to HUGE stop losses!
As day traders we each take turns filling the gap on these traders while at the same time filling the gap on other day traders using smaller charts!
Support and resistance just means that the money ran out in the direction being traded and for the size of the traders being targeted at that moment.
Think about a glass of water that is 2% full...
Do you want to take that traders drink? Is it worth it?
What about a glass that is over flowing into other cups...
Oh, you want that water now don't you!"
You really can just shelve mighty's stuff under strategy."
MO "Don't try to predict what will happen next, simply aim to consistently apply your ideas."