Support & Resistance Frustrations... | Currency Futures


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Support & Resistance Frustrations...

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Legendary Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,411 since Sep 2010
Thanks: 2,342 given, 3,561 received

Watching YouTube and expecting to learn to trade right is not the right way.
There is a mix of promoters who do not trade, people who paper trade, and very seldom people with practical experience.
As a beginner you might be impressed with their "preaching", in a few years you would think other wise.

Let me give you a helping hand: Charts are like looking at earth from space while you want to get to Switzerland. Now you are asking, should I fly 50 KM to the left or the right to get there? and in reality...who knows?

What I am trying to say is that charts (s/r,fibs, etc) are not a sole tool to predict price. In fact, charts may make you take moves that would trap you against professionals. In my personal opinion you should try and develop a secondary set of tools beyond what the charts provide, which is only the setup.

I hope this helps you in your quest.

Thanks,
Matt

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; April 6th, 2015 at 12:43 AM.
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