Applying Joe Ross Trading Methods

[handle 10]

  OILFXPRO said:

Priceless cause he can compound and be a billionaire .

 

I think you posted in the wrong thread.

[clmacdougall 11]

Would you please define "sequential swing " I wish to ask you a question but need to be sure of how you personally would draw your swings first. Thank you.

[tradingwizzard 10]

  clmacdougall said:

Would you please define "sequential swing " I wish to ask you a question but need to be sure of how you personally would draw your swings first. Thank you.

 

hi there,

 

make sure you say the nickname of the person you are addresing to as otherwise you will most likely get no answer

 

TW

[Patuca 13]

  On 9/13/2013 at 11:50 AM, johnw said:

 

Hello MK,

 

There are many instances of these mental experiments and they do make us think ... as indeed they should.... in many human endeavours, especially those that require one Learned Soul passing un(semi) quantifiable to a hungry Student, it works.

 

However Trading is as quantifiable as it gets ... just look at your daily Brokerage Statement.

It is even more exact than being the World's fastest man... even if you run the 100M in the fastest recorded time, there is always the suspicion of drugs hanging over the Runners head.

 

Trading is brutally honest.

 

And so when People tell us things like 'S&R doesn't really work" they are demonstrating the limits of their range of their thoughts or assumptions on the subject.

 

When I say to Handle 'the supply/demand zones exist intraday CL' ... I say this because I can see them.

I do not say to Handle that if he doesn't use them then he must be nuts, because that would be a presumption on my part... Handle is a Trader and answers only to himself.

S&D zones are the result of Longs and Shorts doing battle and the Winner controls the next Price Wave ... to me this is the very essence of market structure and it is the guts of trading.

The Zones will be as long as your bars are small ... it is your choice entirely how you choose to exhibit your price information.

Once we accept these concepts, then we can decide how we are going to build a mathematical edge that is applied consistently.

Without this edge we are dog tucker.

Without this edge, Retail Traders who are well funded will take longer to go broke than Traders with smaller balances.

However the Trader who grasps the structure of the market and who builds a mathematical edge will grow their account.

 

In short ...

It doesn't matter what you do, so long as you grow your account.

This means that any/all experiences, opinions, thoughts and assumptions should be embraced openly and put to the test mathematically before any decision is taken.

 

This is a brutally honest game ... and I mean that we have to be brutally honest with ourselves in every respect.

These support and resistance areas can in fact give an edge. But not necessarily a guaranteed edge. Nothing is guaranteed in the markets.
 

Support and resistance are indicators of where the  institutions have battled it out since they control price movement. At all times there are bullish and bearish institutions in the market. Price will be pushed and pulled to resistance and support. At those key points one side will win over as both are usually exerting pressure. If bullish institutions win then there will be a BO of the resistance. Likewise, at support if bears win price will break out of support. They key  imo is what happens right after the BO. Is there a PB then a continuation or is there a reversal? Bears will try to reverse a BO of resistance.  Bulls will try to reverse a BO of support as price moves down. 

[fxeconomist 11]

  On 9/4/2022 at 1:46 PM, Patuca said:

These support and resistance areas can in fact give an edge. But not necessarily a guaranteed edge. Nothing is guaranteed in the markets.
 

Support and resistance are indicators of where the  institutions have battled it out since they control price movement. At all times there are bullish and bearish institutions in the market. Price will be pushed and pulled to resistance and support. At those key points one side will win over as both are usually exerting pressure. If bullish institutions win then there will be a BO of the resistance. Likewise, at support if bears win price will break out of support. They key  imo is what happens right after the BO. Is there a PB then a continuation or is there a reversal? Bears will try to reverse a BO of resistance.  Bulls will try to reverse a BO of support as price moves down. 

I like to trade support and resistance levels, however efficiency of this method is much higher on crypto especially on 15-30M timeframes. That's why I trade BTCUSD and ETHUSD pairs on Hotforex and dropped FX almost completely except for swing trades that are held for 3-4 weeks