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Use your brain! Mechanical indicator-based systems don't work
You may not confuse skills acquired in the past with expectations in the now.
Take a look again at Gio's so called diplomatic, I'm not guilty, because you don't have any evidence against me judge! He's meting the now, based on his former experience and interpretation of my posts. Nevertheless, he's not doing that with the lack of the past. He's using the emotional charge that's based on his past experience to project that on the now. If he would have let go of that emotional charge from the past, he would have reacted different when my posts showed up.
You're doing the same thing. You're basing your interpretations on the fear that if, you're letting go of the past then you wouldn't be able to find the support resistance areas, etc. You don't have to be afraid of that, in case you master those skills, and have the ability to identify them in the now. You're still doing it in the now. But the problems start to show up when you base your expectations on the past, meaning that you expect the past to repeat it self. And in case it doesn't, then you're in problem.
Another example is your way of understanding my post.
Based on the information you have and your feelings you draw the subjective conclusion that I have not let go of the past. If that's how you want to met the present of your reality then -Be my guest!!!
/George
PS: I truly hope that Gio doesn't mind of being used as a great example in order to contribute to a wider understanding. After all, this is what this forum is about. Traders helping traders. I don't mind if someone wants to use my posts against me or in conjunction with me, in order to clarify something or in order to learn and develop. By the way, in case Gio feels offended which I sincerely hope and don't expect him to be, I would like to apologize in advance!
Thank you for reviving an older thread (being serious, I'm not being sarcastic). I was a bit disappointed that this thread didn't get more responses when I first created it.
I'm interested in learning more about your method, but I need something more concrete. I'd like to start with seeing an example of an indicator that provides a 1:1 profit factor. Would you mind providing an example?
Ok I got all that, but you said that you can make money with any indicator with profit factor of 1:1 so I'm asking you for an example. Will you provide one?
I think I said this before....Don't fight the tape.... little dots are highs/lows to check range for outliers, set chart horizontal lines to match your stop loss comfort level. enter in tape direction, monitor bid/ask and open p/l....folds in the tape (close prices) indicate pause in the price action over time (which you will see in speed of bid/ask) and possible local s/r...simple. Now add in greed and emotion - not so simple.
Too bad he decided to delete his post but at least you replied before he did.
I agree with his post. The catch is that *I* have to provide the 1:1 indicator. I have not found a price-based indicator that has a positive expectancy. Until someone produces one, I must assume that it does not exist.
I GAVE YOU AN EXAMPLE WITH AN INDICATOR THAT I PROVIDED!
This is why I started deleting my posts. I'm wasting my time and yours. You will continue to lose because you are a <what do you think most people would say>.
