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Webinar: Support/Resistance and the Importance of Trading on "Closed" Data
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Webinar: Support/Resistance and the Importance of Trading on "Closed" Data

  #1 (permalink)
Site Administrator
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Webinar: Support/Resistance and the Importance of Trading on "Closed" Data

Hi guys,

It is my pleasure to welcome Christopher Gray and Earn2Trade for a webinar on Thursday, November 1st @ 4:30PM Eastern US.

The title for this event is "Support/Resistance and the Importance of Trading on "Closed" Data", and bullet points include:

- In depth look into one of the most reliable technical analysis methods known to traders
- Advanced anticipated reversal strategies
- Understanding the power behind breakouts
- The secret that can be had from only trading on "closed data"

Register for the event:
https://on.futures.io/hbf6z

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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  #2 (permalink)
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  #3 (permalink)
Site Administrator
Manta, Ecuador
 
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Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,656 since Jun 2009
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Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #4 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,656 since Jun 2009
Thanks: 29,756 given, 85,471 received

Webinar recording will premier Friday morning



Be sure to attend the live event next time if you don't want to wait for the recording.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,656 since Jun 2009
Thanks: 29,756 given, 85,471 received

What did everyone think of the webinar?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #6 (permalink)
Elite Member
North vancouver
 
Futures Experience: Beginner
Platform: Ninjatrader, Firetip
Favorite Futures: ES YM
 
Posts: 106 since Oct 2016
Thanks: 92 given, 27 received

I think it was a great.

The webinar is great and the information is valuable.
I hope Earn2Trade do another webinar soon.

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  #7 (permalink)
Elite Member
Las Vegas, Nevada
 
Futures Experience: None
Platform: MultiCharts
 
Posts: 51 since Apr 2010
Thanks: 16 given, 19 received

Appreciate the content, but my only complaint is that the support and resistance levels were defined using all the data on the chart, but not tested on data that has not been seen yet. Would have been more interesting if a random position was taken, support and resistance levels defined, trade entry price set, target price set, and then scroll to the right to see what happens.

I've spent a lot of time working with support and resistance levels. I have code that automatically identifies them consistently. Problem that I have found is that, at least on day trading crude oil charts, they don't seem to hold up very well. When you set your stop loss a lot closer than your target, that means that there's a much greater likelihood that your stop loss will get hit before your target. Agree with the trailing stop approach as there's no guarantee that the target will get hit.

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  #8 (permalink)
Elite Member
North vancouver
 
Futures Experience: Beginner
Platform: Ninjatrader, Firetip
Favorite Futures: ES YM
 
Posts: 106 since Oct 2016
Thanks: 92 given, 27 received


Crow View Post
Appreciate the content, but my only complaint is that the support and resistance levels were defined using all the data on the chart, but not tested on data that has not been seen yet. Would have been more interesting if a random position was taken, support and resistance levels defined, trade entry price set, target price set, and then scroll to the right to see what happens.

I've spent a lot of time working with support and resistance levels. I have code that automatically identifies them consistently. Problem that I have found is that, at least on day trading crude oil charts, they don't seem to hold up very well. When you set your stop loss a lot closer than your target, that means that there's a much greater likelihood that your stop loss will get hit before your target. Agree with the trailing stop approach as there's no guarantee that the target will get hit.

IMHO I do believe S/R levels hold the great value of interest for entry, stop loss, profit taking. Along with risk management and the trend as your ally, you should be okay.

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