Hello Headmaster & Matt Jones and others with the same view,
Gentlemen this is not a method or system. This can’t be compared to R Carter’s system or any other system, nor is it something complex like quantum physics which requires a high level of intelligence. I simply gave you an example of the Daily time frame hitting a top resistance level and how it affects the lower time frames. It does take a little time on your part to go through all of it but the level of education required to do this is quite low.
If you don’t understand it and are trading without this knowledge then you are playing Russian roulette with the market. You will never reach your true potential as a currency trader as you will never “See” the market. Please believe me it is vital that you understand this key element of trading. I cannot over stress this point.
If you look at the Daily chart and look all the way back to 3-16-2007 and then by drawing simple trend lines for a two year period and only taking the major trades your eyes will see the power of the Daily. There are only 48 major moves to trade in this period but the possible profit is obscene. If you reinvested the profit after each trade you would make Bill Gates look like a pauper and the US would be looking at you for a loan instead of China.
Please understand I’m trying to take you to the next level of your quest to be a knowledgeable and profitable trader. The understanding of the timeframes is vital to your success and this one key point can make you a ton of money. Without this knowledge and understanding you’re attempting to wage war with a water pistol and the enemy has an AK-47. Believe me you will get blind sided one of these days and never see it coming.
I have discussed this with traders that have traded for twenty years and for some reason I could not make them understand this simple concept. If you don’t get it then I suggest you trade only the daily.
If you can understand this key point and also understand the support and resistance concept then your ability to trade intelligently will be light years above the rest. You will realize that the method you use for entry and exits is really a trivial thing and will not make or break the trade. Whether you use Robert’s, or a single indicator or just look at the chart and when it hits an S & R point you pull the trigger. It’s just that simple.
The problem that traders have is that they are searching for the holy grail of indicators instead of learning how to trade. I’m a detail nut and love trying out different indicators but I already know that I could trade with the Bollinger Bands and hit close to the top and bottom every time. Playing with indicators and posting on threads like this is just passing time until the trades play out. My computer will then beep and a voice comes on says “Wake up you idiot the PA is hitting Resistance”
If you go back and read my prior post and go through the time frames in the example and you still don’t “get it”,
I suggest you create your own example and maybe then you will get that Ahhha moment. If that still doesn’t get it for you then read a book, go on the internet, ask questions, meditate, join a group therapy club on expanding the mind or whatever it takes but don’t give up until you can say “I now understand and I have indeed experienced the Ahha moment”. You then can confidently say “I see the light O G_d of the markets and I’ll never be the same again”.
You will then and only then can you trade with confidence and know the direction of the “TRUE TRADER” and be one with the market. All traders will bow to your wisdom and knowledge and you will become a legend in your own mind.
Your name will be spoken and stories repeated for centuries by the elder traders to all the young newbies.![:wink: :wink:](https://forums.babypips.com/images/emoji/twitter/wink.png?v=5)
The most important thing and I know this is as close to your heart as it was mine, is you will then be able to truly tell your boss what you think of him by singing Johnny Paycheck’s song “Take This Job and Shove It”.
Trade well and prosper,
Johnny