Price

[ckait 10]

Heres a thought for a thread for us Technical traders. Why do YOU think certain prices are important as in a place you would put on a trade on a pull back or how ever you decide to get in to the market. Example for me trading energies I like to seee what happens around quarters and dollars I might not use them to actually say if this holds, I'm long but i do like to see what kind if response you see around them. So what do you use and why do you think there is any meritt to why you use them?

[SIUYA 11]

Heres a thought for a thread for us Technical traders. Why do YOU think certain prices are important as in a place you would put on a trade on a pull back or how ever you decide to get in to the market. Example for me trading energies I like to seee what happens around quarters and dollars I might not use them to actually say if this holds, I'm long but i do like to see what kind if response you see around them. So what do you use and why do you think there is any meritt to why you use them?

 

setting prices levels around either support/resistance, random levels or set levels based on round prices or some distribution around the average etc is all the same....the only difference being that some levels probably have a higher probability than others to not do too much damage to an account than others when you are wrong.

Key is to see what happens around those levels and then manage the trade.

What ever is used by a trader generally just adds structure to their strategy as opposed to purely discretionary punting as an alternative - weather it works or not probably should have been tested.

Not sure what other thoughts you might need but to me its that simple as a concept (then difficult to implement maybe) - basically - the levels really only mean something to you - the market does not care - what you are hoping for is that the levels you pick the market also agrees on - what happens after that is the tough part.

[ckait 10]

good awnswer kinda what i was eluding to thanks for articipating