Ok so I got much hate on my last post, to be expected I guess. Seeing where price reacts from is only half the battle, I get that. Ok the best way to describe it is this…
Mark your supply/demand zones, only follow the trend and within these zones you look for the area of support and resistance on the lower timeframe. That is all! Super f simple, no indicators or bullshit obscuring your view of price.
There is no code.
Only a data backed approach paired with healthy risk management, consistent execution and understanding of long term mathematical probability behind trading.
I guess you could say that’s the code.
I’ll be completely honest with you, I don’t think you have a strategy. You’re gambling with extra steps. That being said, you might be or could be on your way to a strategy, but there are layers beyond price action that can take your trading up a notch.
What else, besides the actual price and candlestick patterns on the chart, do traders have to consider when judging movements (current and probable) in price? Especially when day trading?
@Vance
Well, all retail trading is gambling. You’re not wrong. OP is just gambling, with a possibly weak strategy.
Finley said:
@Vance
Well, all retail trading is gambling. You’re not wrong. OP is just gambling, with a possibly weak strategy.
Funny how you say ‘just gambling’ just because I can see areas where prices reverse. I’m not saying I won’t be wrong; you have no idea what my full strategy is. Getting accurate trades is just one part of the problem. I focus heavily on risk management. I’ve been in the game long enough and broke every rule, so…
That is not all. There are days where support appears multiple times and you enter and lose. Then you think it’s going to go down, enter a downtrend, and it actually goes up.
To become profitable that day, you need to offset those losses first before you can start THINKING about profit.
If you have any wisdom in life, you’d know that a massive life spank is coming when you think something that everyone finds hard is simple and easy in your view.
@Nyx
Yeah, I get that, and that’s where solid rules and risk management come into play. You’ve heard of “catching falling knives” – I have a 1 loss per day max, risking 0.5% per trade. Only trade with the trend, and I know it’s hard to see the trend changing at times.
Also, I never said it was easy, but the method I use is. No indicators, no confusing lines on my charts, no fibs, no fundamentals, nothing. It’s easy to get caught up in that thinking the more confirmations you have, the better. Naked charts, 1 zone, 1 line within this zone, stop and target level – that’s it.
>> This time next year, Rodney, we’ll be millionaires
!-)
There’s not really a point to either of your posts. If you have an edge and manage to make it profitable, then congrats. If you don’t, then keep going until you do.
But your post brings no real value to this sub. If you’re going to preach about your ‘code’, then at least show results.
@Tan
I’ll backtest and post results. I’m not saying I have the holy grail, and I know the post title was silly. But for years I was just marking zones and setting wider stops. I knew price would react to areas of large volume, I just didn’t know there was a pinpoint area within these zones. I’m not saying I won’t be wrong, and I’m not saying I won’t get stopped out, but it’s slightly more of an edge for getting accurate trades.
You’re not wrong. Everyone will say you’re gambling or that it won’t last. I figured this out too, but I do it a little differently. It’s funny how no one is succeeding, but they are the ones telling you it won’t last or some other bs. If you want, I’ll show you my past FTMO results; I passed it the first time with practically no drawdown.
@Bowie
Congratulations, mate! Keep it up 
. Send me a DM; I would love to see how you trade and your FTMO results. I’ve failed FTMO 7 times in the past years.
Lmao.
Do you know how to adequately differentiate market conditions that are conducive to your strategy from market conditions that are not? Because you’ll experience months where the opposite happens right as you enter. It will seem like your broker is watching you and messing with you. Stop loss hit in 2 minutes for a trade you were expecting to hold until market close – 5 to 10 times in a row. You may be profitable in the future, but trust me, as a profitable trader myself, you will never ‘crack the code’ simply because there is no code to ‘crack’.
I’m not saying losses won’t happen; price doesn’t react to every supply/demand zone, and obviously, this could never work without strict risk management rules. When I get a chance, I’ll backtest it properly.
@Vic
Broooooo, you said down to the PIP. And you were so confident. No one wants hindsight backtests; hold yourself accountable and show us all live what a down to the PIP reversal looks like.
@Vic
Not sure why that was downvoted, man, but you have the right frame of mind. You can do this, bro.
