Article Support and Resistance: The Greatest Trading Tool

T2W Bot

Staff member
1,499 115
Despite all the hype from the internet marketers who try to sell you the latest trading ‘secrets’, the fact is there are NO secrets.

Identify setups which provide the potential for lower risk and/or higher probability trades. 
Enter and manage those trades in a consistent and disciplined manner. 
Minimize risk. 
Manage your money. 
Manage your emotions.
Journal your results, and review them to identify what’s working and what’s not working. 
Keep doing what is working, and 
Improve what is not working.

If you’re not trading successfully, it’s because you’re not doing one (or perhaps all) of these things.
There are no secrets!
So, it’s time to stop searching for this holy-grail solution and get down to some good old-fashioned work.
And where better to start than the first item on the above list – a setup which provides the potential for a lower risk and/or higher probability trade.
Every technical analysis book on the market shows a number of charts with horizontal lines, and...

Continue reading...
 
Last edited by a moderator:

aamarx

Well-known member
453 19
Couldnt agree more! Support and Resistance is the only trading tool you need!

I also have a thread with a similar outlook posting S/R numbers for traders http://www.trade2win.com/boards/us-indices/38414-indicators-liars-support-resistance-trading-s-p-emini.html
 

sjrider2397

Junior member
22 2
This is great advice, every new trader should concentrate on s/r lines, learn how to draw them and learn which ones are major. I know where they are before entering any trade.
 

Mr Steve

Junior member
35 0
Great artical thanks for the post
 

rsi

Newbie
7 1
Hello sir,

Your article mentions that there are some more parts which you shall be posting here in the days to come. I am eagerly awaiting the remaining parts of this article.
 

akenasm

Newbie
2 0
Great article and am also eargerly waiting for the second part of it. I do agree that s/r are great indicators for trading but I feel that using single indicator as such at time is a bit not enough. Please note, this is my own thought and am still a newbie to trading but learning everyday from article like this. ayata
 

mildseven

Newbie
2 0
Nicely done..I heard people talks about major or minor support or resistance, or they might say, this stock's support is weak..what does it supposed to mean? sorry for such questions, I'm still a newbie..
 

HedgeFounder

Junior member
29 0
Do you support my resistance?

Does anyone know a successful trader who made consistent profits by trading solely support and resistance? I am not being a nay-sayer, I am genuinely curious.

Instead, how about a trading system with a positive expectancy?
 
 
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