Support & Resistance Frustrations... | Currency Futures - futures trading strategies, market news, trading charts and platforms

Currency Futures

This subforum allows you to find traders that trade Currency Futures. You may post about anything to do with trading currency futures in this section


Support & Resistance Frustrations...

  #6 (permalink)

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.


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.
Reply With Quote
The following 6 users say Thank You to mattz for this post: