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1) a river takes the way of the least resistance to find the way form the valley to the ocean
Analogy
2) to find the easiest way to find a path from valley one to valley two is a process made by man
to optimize used energy to pass - normally by the easiest pass..
.. unless man made a tunnel :-)
In words of the trader: Passing from level A to level B (direction not important here) some other
people made already an attempt.
So: Follow them
I just read the following passage from John Sweeney's Campaign Trading and it struck me as the most relevant summary piece I have ever read on the subject:
You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
So, that means stops for swing traders at main historical key levels are a good thing. And, scalpers don't have to worry about stops as long as they trade somewhere in the middle of 2 key levels. Seems to re-enforce the results of your previous R/R study.
would you be kind enough to let us know what the results are, pls;
after you have tested this theoretical exposition out in your live/sim trading?
often wonder how close some theoretical expositions/equations are, to real life application?
in terms of statistic application, mostly it seems to work out well, just in terms of statistics. however in real life application it might seem ridiculous and way out of reality; such as, the average household in new york city consisted of 2.5 person, for example. cheers and happy trading everyone.
