[SunTrader]

Originally Posted by bakrob99 »

Let me get this straight. You find it too difficult to go into a Google Search and type in:

Ryan Watts MACD

then be presented with a ton of links to articles:

Eg.

http://www.thephantomwriters.com/fre...d-trades.shtml or
http://www.wattstrading.com/Scalpingtheeminis.html

I didn't say I didn't google him. I said, who is he?

Maybe I should have said who is thephantomwriters.com - athough wattstrading.com is self-explanatory. Might there be someplace else unbiased besides a forum thread or another company which might be promoting him ?

[sevensa]

Originally Posted by SunTrader »

I didn't say I didn't google him. I said, who is he?

Maybe I should have said who is thephantomwriters.com - athough wattstrading.com is self-explanatory. Might there be someplace else unbiased besides a forum thread or another company which might be promoting him ?

Not really sure what you are asking here. Ryan Watts is Ryan Watts. If google didn't give you what you want, try the about me page on his website, or e-mail him and ask him.

With regards to thephantomwriters.com, if you have spent the same amount of time it took you to make this post here on their homepage, you would know what/who they are.

[tapovan]

what is dom? as seen in the above areticle?

[DugDug]

(i did not read the article) however DOM usually stands for depth of market.
It is a way a lot of system allow traders to view the market showing a few price levels on both the bid and the offer.

[sicktrader]

Bump...so that I can find this later. I usually move on about 20 trades per week, but for more points I would imagine. One smaller trade every 10 minutes seems like something I could add to my current systems. At least you know you are going to see action whenever you turn your platform on. Would be similar to cocaine for an action junkie like myself.

[Uli Schmuli]

Regarding Support & Resistance...

Several years ago, I paid over $12k for a suite of Fibonacci Confluence support/resistance indicators from Nexgen. A couple years later, I was able to do some backtesting of the trading plan that they teach using these areas as support/resistance. What I found is that the plan works regardless of whether the areas used were the (ridiculously expensive) Fib Confluence areas or some arbitrarily selected lines. I tested the system using 5 point increments on the Russell 2k and achieved results just as good as when the plan was applied to the fib confluence areas.

What I learned: Support & Resistance areas can keep you out of good trades, and cause you to exit positions as they approach the perceived resistance area. So how do we know whether these areas are expected to break our hold?: Momentum tells us.

Another thing I learned: Our mind plays tricks on us. When we are looking for a support/resistance to hold we can look back at the charts and see all the places where this was true. What is overlooked are the many, many instances where this was not true.

I do not even use support/resistance or volume for that matter in my trading. Some of the best trades are breakouts from these areas, which in the past I would have been 'afraid' to take. Try this exercise: Go back through your charts and instead of looking to see where your pivots or whatever 'worked', look to find all the times they apparently didn't mean squat. It's an enlightening exercise.

[SunTrader]

Originally Posted by Uli Schmuli »

Another thing I learned: Our mind plays tricks on us. When we are looking for a support/resistance to hold we can look back at the charts and see all the places where this was true. What is overlooked are the many, many instances where this was not true.

I do not even use support/resistance or volume for that matter in my trading. Some of the best trades are breakouts from these areas, which in the past I would have been 'afraid' to take. Try this exercise: Go back through your charts and instead of looking to see where your pivots or whatever 'worked', look to find all the times they apparently didn't mean squat. It's an enlightening exercise.

So true.

And some of the best trades are when what is expected doesn't come about, such as a trendline break that doesn't continue to break. Crowd buys a downtrendline break or sells an uptrendline break only to see it reverse back in original direction. Uh oh!

[Nemesis]

My experience is different.

I very much trust and rely on support and resistance, I just don't trust it when it's countertrend, strong trends know no obstacles.

Nemesis

Originally Posted by Uli Schmuli »

Regarding Support & Resistance...

Several years ago, I paid over $12k for a suite of Fibonacci Confluence support/resistance indicators from Nexgen. A couple years later, I was able to do some backtesting of the trading plan that they teach using these areas as support/resistance. What I found is that the plan works regardless of whether the areas used were the (ridiculously expensive) Fib Confluence areas or some arbitrarily selected lines. I tested the system using 5 point increments on the Russell 2k and achieved results just as good as when the plan was applied to the fib confluence areas.

What I learned: Support & Resistance areas can keep you out of good trades, and cause you to exit positions as they approach the perceived resistance area. So how do we know whether these areas are expected to break our hold?: Momentum tells us.

Another thing I learned: Our mind plays tricks on us. When we are looking for a support/resistance to hold we can look back at the charts and see all the places where this was true. What is overlooked are the many, many instances where this was not true.

I do not even use support/resistance or volume for that matter in my trading. Some of the best trades are breakouts from these areas, which in the past I would have been 'afraid' to take. Try this exercise: Go back through your charts and instead of looking to see where your pivots or whatever 'worked', look to find all the times they apparently didn't mean squat. It's an enlightening exercise.