Support/Resistance trading questions - Page 2
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Thread: Support/Resistance trading questions

  1. #11
    Quote Originally Posted by ;
    Generally speaking, do not believe this is accurate. Larger TFs only give the illusion of better accuracy because there are usually less signs and the feedback loop is stretched out.
    Yup, another way of saying the exact same thing: Those nice clean 4 hr candles seem a lot easier to read, but... everything that happened on a 1 minute chart (such as 240 candles) chart also happened inside that 4 hr candle. There might have been a one hundred pip (or more) retrace and return interior a sizable 4 hour candle that doesn't appear.

    That's partially why newbs are attracted to news trading. Those very long clean candles (on almost any timeframe) seem so eeeaaasy. How can you miss? In reality the movement inside these candles shakes most folks out.

  2. #12
    Quote Originally Posted by ;
    Paradoxically, yet another way of saying the same thing: People nice wash 4 hr candles seem a lot easier to read, but... everything that occurred on a one minute chart (such as 240 candles) chart also occurred inside that 4 hr candle. There may have been a one hundred pip (or more) retrace and return inside of a large 4 hour candle that doesn't show up.

    That's partly why newbs are attracted to news trading. Those very long clean candles (on almost any timeframe) look so eeeaaasy. How can you miss? In fact the motion inside those candles shakes most people...
    I hate those freakishly long candles. The worst is if those pop up to a 1 minute TF; you can't if the train isn't coming back for awhile or you are going to have a direct pullback. I've learned to just sit them out.

  3. #13
    Quote Originally Posted by ;
    In general, do not believe that is accurate. Bigger TFs only give the illusion of greater precision since there are usually less signals and the feedback loop is extended outside. Also, many fail to correctly adjust SL and TP levels for the shorter TFs, which skews their perception. Statically, both TFs likely would provide you exactly the same w/l ratio all else being equal.
    A lengthy time frame in contrast to a short time frame presents different opportunities. Look for articles by Danielfppps. He published a research (that is more evidence then you'll receive from some other posters here) that concluded the FX market was weak-form efficient in the short term. This means is that technical analysis offers no (statistically significant) advantage in short-term FX trading. The reason for this is because the short-term is full of noise. You could have every indiion the market is going one way until unexpected event X starts happening and price takes to the contrary direction. This can happen hundreds of times a day. In the future this is not the case.

    Of course, if your transactions are arbitrary in any time frame, the less transactions you create the lower your account will vanish.

  4. #14
    Quote Originally Posted by ;
    A lengthy time period compared to a brief time frame presents different opportunities. Search for posts by Danielfppps. He posted a research (that is more proof then you're going to receive from any other posters ) that concluded the FX market was weak-form efficient in the brief term. This means is that technical analysis offers no (statistically significant) advantage in short term FX trading. The reason for this is because the short term is full of sound. You might have every sign the market is going one way until unexpected event X begins...
    I completely disagree on all counts...

    ... but yeah, adhere to larger and longer TF, although I just quietly stick with my 1M and tick TF

    Slack and Turveyd, you men should also stick with lengthier TF since Danielfppps did some study about larger TF. OK?

  5. #15
    Joe,

    It depends the type of trader you're.

    Are you a position trader? . . .longer duration, daily, weekly, monthly

    Day trader? . . .do not hold longer than day, daily, 4hr, 1hr

    Scalper? . . .few min to an hour, 4hr,1hr, 15 and 5 min

    Hope this helps,

    -Mike

  6. #16
    Quote Originally Posted by ;
    Hey I have a few questions. I've been reading a number of distinct matters about support and resistance.

    I would like to trade without indiors and support / resistance with reversal candlesticks.

    ... Do I trade the reversal candlesticks off my main time period or await them to form at the time period above? Any comments would be appreciated!!!

    Thanks for the time,
    joe
    I have some posts which may give you more information that is
    relevant to your query.
    https://www.forexsoutheast.asia/atta...2140106815.pdf
    https://www.forexsoutheast.asia/atta...1322463239.pdf
    https://www.forexsoutheast.asia/atta...1441151036.pdf
    https://www.forexsoutheast.asia/atta...1772895334.pdf

  7. #17
    Quote Originally Posted by ;
    I totally disagree on all counts...

    ... but yeah, stick to bigger and more TF, although I simply softly stick with my 1M and tick TF

    Slack and Turveyd, you men must also stick with lengthier TF because Danielfppps did some research about bigger TF. OK?
    Whilst lol I am profitable is a strong point, I'm sure somebody as smart as yourself can appreciate empirical evidence. As I described in my original post, the study was posted by that person, not done with him. But regardless of who did the study it still says a lot more than you have.

    myself, trade a short time period. I didn't say it could not be done I said time frames that are different present opportunities. If you'd like to make an actual argument against that I would be pleased to respond!

  8. #18
    Quote Originally Posted by ;
    While lol I am profitable is a powerful point, I'm sure someone as smart as yourself can love empirical evidence. As I described in my original post, the study was posted by that person, not done by him. But regardless of who did the research it still says a lot more than you have.

    myself, commerce a short time frame. I didn't state it could not be done I stated distinct time frames present different opportunities. If you want to make an actual argument against that I'd be happy to reply!
    I was laughing because your post depicted that you appear to believe everything you read (IMO). It seem to me that you presented that argument as it, otherwise you would not have brought it up.

    Let me highlight your phrases in red.

    Quote Originally Posted by ;
    A long time frame compared to a short time frame presents distinct opportunities. Search for posts by Danielfppps. He posted a research (that is more evidence then you'll get from any other posters ) that concluded the FX market was weak-form efficient in the short term. What this signifies is that technical analysis offers no (statistically significant) benefit in short term FX trading. The reason for this is because the short term is full of sound. You might have every indiion the market...
    Are these your own decisions (in red)? Or are they someone else's conclusion? Once (you) studying the study you read, I perceived it as your own decisions (and your stance) agreeing to what you have found and understood.



    I highly appreciate empirical evidence. I also realize that empirical evidence can be manipulated.

    Also, it just appears to me (since you presented this argument) you are unaware of additional research that states lower TF have greater statistical advantage over larger TF.

    I laughed as your argument were no different from the common arguments such as global warming. Either side can produce empirical evidence of research and arguments, it just depends upon how good of a marketing publicity it's delivered upon... or whatever political grounds, religious or private gains/agenda it depends upon.

    Quoting a person's research does not make it a powerful argument.

    I could not careless whether you are profitable or not, nor anything TF you exchange. Forgive me, I didn't elaborate when I stated I disagree on all counts. I believed the prior posts already discussed exactly what I needed to say on the situation of this thread.

  9. #19
    Quote Originally Posted by ;
    ... technical analysis provides no (statistically significant) benefit in short-term FX trading. The reason for that is because the short-term is filled with noise.
    This is 100% BS. You realize that each and every tick/order on the market is a result of somebody, somewhere voluntarily pressing on the Buy or Sell button? By definition, this implies every pip movement has a meaning/intent and may be examined either individually or in aggregate.

    I can't figure out how to trade off a tick chart, but I'm not going to say it's filled with noise due to my lack of skill.

  10. #20
    Crucial, let me preface this by saying we all have our own motives for submitting. My reason is so that people like you may come around and tell me I'm an idiot. And if you can prove it then I actually got something worthwhile from all of this. So don't take me the wrong way

    I absolutely agree that just because somebody did study does not automatically create something a strong debate. (though I will say ANY study at least makes an effort to prove something beyond that which we can only assume is conjecture (which is not to say that I do not think you're profitable)) But results can be interpreted differently and manipulated. You need to draw your own conclusions based on how any study was performed, what data was used, etc.. I intentionally left a map of where the study could be found so that people might form their own opinion on it. I'm not trying to state trading pure TA on a brief time period is impossible, and your success might be a tribute to this, but I am saying that numbers speak louder than words.

    I apologize if I came off as saying that I had been indisputably right in my assertions.

    I'm not aware of any worthwhile studies in particular that state lower TF have greater statistical advantage over bigger TF but I would really like to read a few and figure out WHY they came up with this result and learn from it. Please don't hesitate to link to a few.

    There are thousands of people on these boards with tons of different opinions. I would rather form MY opinions based on empirical data, accepted for what it is worth, rather than the small subset of market data and forum posters that I (or many ) have access to. It's easy for some one to say I'm an idiot but it's hard (for me) to take it seriously when its backed up with in MY personal opinion.




    Quote Originally Posted by ;
    That is 100% BS. You realize that each and every tick/order in the market is a consequence of somebody, someplace voluntarily pressing the Buy or Sell button? By definition, this implies every pip movement has a meaning/intent and may be analyzed either individually or in aggregate.
    You realize this doesn't have anything to do with what we're referring to. (I'm sure you realize that price can signal when calculating is pulled). Additionally, the definition of WHAT exactly? You can analyze the corn from my crap but that doesn't mean it'll tell you when I'm shitting next (or maybe it will??) .
    Quote Originally Posted by ;
    I cannot figure out how to trade off a tick chart, but I'm not going to say it is filled with sound due to my lack of ability.
    You have continued to overlook the point. If you're gonna require a stab at me at least pay attention and try to make it applicable.

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