Thread: Drawing correct resistance and support-lines

Originally Posted by ;

Couldnt agree over tt. When u experience tt type of pain b4, your subconscious will automatically do whatever it is ideal to prevent u from finally your transactions unconsciously , thus improving ur cautiousness/judgement/decision and making the identical mistake . .

Yuna

Lousy transaction experiences are indeed very important to draw lessons from. Looking pass to determine exactly what you've done right is equally important. Personally I feel it very important to review winnings more for these reasons...

-It's depressing to continue going back to sense and examine what's gone wrong like going through bad encounter once is not bad . Most people would not possess the mental aptitude to fix errors objectively. Is it that you think problem gamblers keep repeating their vicious cycle of losing if they have known better?

-Modern thinking in performance improvement has advoed that mental replays or creativity of winning before stepping into activity enhances results tremendously in regions like sports. In trading it's difficult to envision exactly what you've done wrong and correct it because you still must go through pain that's not what we're created for.
If runners visualize themselves crossing the finish line first ahead of the gun goes away, if golfers envision themselves picking up the trophy the night before the game. . .should't we do exactly the same?

-People have a tendency to condemm themselves for their errors, condemnation does not assist in any other endeavours. What helps?
Seeing what you've done correctly gives you the courage to trade every day.


So invest your weekend analyzing errors, but spent more time looking at those profits and think how you can raise them. Then study other people's achievement if you don't have some. Be a happy trader

mARK

, loving the ride GJ?

Originally Posted by ;

, enjoying the ride GJ?

If I had some place open I'd. Had a tiny profit on 1h chart breakout, but cashed it , as I had to leave pc That is the price I must cover not being able to monitor market all day. However, as I said before, profit is profit

Originally Posted by ;

When I had some place open I would. Had a tiny profit on 1h chart breakout, but cashed it in, as I had to leave pc That's the price I must cover not being able to monitor market all day. But as I mentioned before, profit is profit

LOL like Yuna would say, if u cant net the fish, prawns will do too....

Calling it a day, fairly dull Mon although

mARK

Originally Posted by ;

Hello stace, if u've read the last post in the early pages, one of the post suggest not using the demark indior to draw trendlines and agree with that trader. Because with all the indior u are dependant on it and it prevents u from aquiring for drawing trendline yourself the points to be spotted by the abilities.
So just how do u draw a trendline? U must know what is a trendline. A trendline is just like a support and resistance line except that it's diagonal. And of course as the name says, it informs the trend. In order to have res line or a support, it's set by the rejection with that point when price reaches it or near to it. In brief a solid SR line is when
1) price analyzed it many times but it retains
2) the rejection drive from the lineup
3)the time required for the rejection, in ways tt the more pips movement in the lesser quantity of time
4)reversal candlesticks seem when price rolls or near tt line, eg doji, spinning top etc

it's easy, u just need some exercise. 1 way to learn whether u draw it correctly is by simply drawing a tl first(taking the above points into account ) then u see how price reacts to it when it breaks it or if price finds SR in the point again.

Below is an example. .

Hope that this helps only my 2 cents

Yuna

Very good reason!


Not able to post @ forthcoming London session due to other problems Good luck trading guys/girls

Hi, does your indior selfupdate itself?
I've strange behavior mine brings no appropriate lines I think.

Originally Posted by ;

demark indior look like this to me.... On 4 hour it works pretty good usually. . .but nothing in forex is guranteed of course


for your consideration.... Would love critique of this trendline


courtesy men

2 more charts:
- e-u h4: a near (on h4! ) ) Below the trendline would mean at least 1.5070 place
- e-u h1: a near (on h1) above the trendline should deliver it above last high, 1.5462. I favor this one, but let us see...

Originally Posted by ;

Hi, does your indior selfupdate itself?
I've strange behavior mine draws no correct lines I think.

That is Y I dont think on demark Indior and draw them by my hand...
Even tug them legitimate now...

Yes I see. I will try somehow learn to draw them

Originally Posted by ;

That is Y I dont think on demark Indior and draw them from my hand's...
Even tug them legitimate today...

Originally Posted by ;

Yes I see. I will try somehow learn to draw them

Do not be sad, we all started somewhere but finally got there. . Keep practicing and smile