Base Support
Forex Day Trading – Trading Support and Resistance for Profits
To win at day trading it is important to predict where prices are likely to go within the day and this means looking at support and resistance.
Let’s take a closer look at the importance of support and resistance in forex day trading.
This is the challenge:
The challenge for any day trader is to accurately predict the range when faced by:
Trillions of dollars traded each day, by millions of participants which include:
Central banks, large and small managed funds, hedgers and individual speculators.
They all have different investment objectives.
Some want to make money and some simply want to hedge their risk.
How many of these pay attention to daily movements and ranges within the day?
Only a very small minority.
With such a vast and diverse trading base, support and resistance calculated within the day is bound to be a fruitless exercise.
Why?
It’s a fact you cannot accurately predict volatility within such a small time frame and the vast majority of participants are not bothered about day trading levels.
This means you are using meaningless data that has no validity.
Day traders lose all the time and never make money longer term.
Ever seen a day trader with a real time track record over the long term?
Maybe there is one, but I have never seen it.
There are some day traders who say you need to be patient and wait for the right opportunity, but if the data is based upon an illogical way of trading it doesn’t matter how long you wait.
Day trading is still the equivalent to flipping a coin.
The problem with day trading is volatility takes them out all the time.
Support and resistance levels don’t hold as they should and day traders are stopped out with a huge number of losses.
These losses are small and that’s a good thing in trading, but because the stops are so close they have little chance of making money.
Can profits to so can they cover the losses?
Of course we all know that if you keep losses small and run profits we can become a winner over time.
Well running profits is alien to day traders and they don’t get many!
They simply want to get a profit (any size) scalp the market and get out.
So you have a scenario where they cant and don’t win.
Using support and resistance in daily timescales to make money is a contradiction in terms when it comes to day trading.
About the Author
MORE FREE BETTER TRADING INFO
On all aspects of becoming a profitable trader including features, downloads and some great FREE Trading PDF’s visit our website at http://www.net-planet.org/index.html
101st Airborne Division At Fire Support Base Ripcord, Vietnam War, July 1970
|
|
BMW Base Support System Roof Rack 7 SERIES F01 F02 OEM $215.00 |
|
|
Genuine BMW E70 X5 Base support System cross member Roof Rack New in box $239.00 |
|
|
BMW F25 X3 Roof Rack Cross Bars Base Support System OEM Brand New Fits MY 2011+ $225.00 |
|
|
BMW 3 Series E91 Touring E92 Coupe Roof Rack Base Support System OEM $215.00 |
|
|
BMW X5 E70 Roof Rack Base Support System OEM $249.95 |
|
|
Brand New BMW Base Support System x5 or x6 2007-2012 82710404320 $250.00 |
|
|
BMW 5 SERIES E60 CROSS MEMBER BASE SUPPORT NEW! $200.00 |
|
|
BMW 3 Series E92 Coupe Base Support System Roof Rack $192.95 |
|
|
BMW 3 Series E46 Touring Base Support System Roof Rack $204.76 |
|
|
BMW X3 2004-2010 Roof Rack Profile Base Support $230.36 |
|
|
BMW 1 Series Base Support Roof Rack $221.67 |
|
|
BMW X5 Luggage Rack Profile Base Support 2007-2011 $255.56 |
|
|
BMW X5 Luggage Rack Profile Base Support 2001-2006 $230.36 |
|
|
BMW E90 BASE SUPPORT SYSTEM NEW OEM!! $210.00 |
|
|
BMW 3 Series F30 Base Support System Roof Rack OEM BNIB $225.00 |
|
|
Roof Rack Base Support System $248.25 |
|
|
NEW OEM BMW BASE SUPPORT ROOF RACK SYSTEM 5 SER. SEDANS $239.95 |
|
|
NEW OEM BMW BASE SUPPORT ROOF RACK SYSTEM 5 SER. WAGONS $214.95 |
|
|
NEW OEM BMW BASE SUPPORT ROOF RACK SYSTEM 5 SER. SEDANS $239.95 |
|
|
NEW OEM BMW BASE SUPPORT ROOF RACK SYSTEM $179.95 |
|
|
BMW OEM Roof Rack Base Support System 325 328 330 335 M3 Sedan (2006+) E87/E90 $195.00 |
|
|
BMW 5 SERIES F10 CROSS MEMBER BASE SUPPORT NEW! $249.99 |
|
|
BMW 7 Series E65 Sedan Base Support System Roof Rack $224.50 |
|
|
OEM BMW 5 SERIES (F10) BASE SUPPORT FOR ROOF RACK ACCESSORIES **NEW** $200.00 |
|
|
OEM BMW X3 BASE SUPPORT FOR ROOF RACK ACCESSORIES **NEW** $200.00 |
|
|
NEW OEM BMW 5 SERIES GRAN TURISMO BASE SUPPORT ROOF RACK SYSTEM $219.95 |
|
|
BMW Base Support System $279.00 |
|
|
BMW X3 E83 2004 – 2010 BASE SUPPORT SYSTEM $225.00 |
|
|
BMW Base Support System and Ski and Snowboard Holder $300.00 |
|
|
Genuine BMW 2012 F30 3 Series BMW Base Support System, Lockable NEW!! $245.00 |
|
|
BMW 2011 X3 Roof Rack Base Support System $229.95 |
|
|
BMW E70/E71 X5/X6 BMW Base Support System $230.00 |
|
|
BMW X5 E53 Base Support System Roof Rack OEM BNIB $180.00 |
|
|
NEW OEM BMW F30 CHASSIS 3 SERIES BASE SUPPORT ROOF RACK SYSTEM MODEL YEARS 2012+ $219.95 |
|
|
BMW X6 Base Support System Roof Rack OEM NEW $230.00 |
|
|
BMW X3 Base Support System Roof Rack $210.00 |
|
|
BMW X3 Base Support System Roof Rack $217.75 |
|
|
BMW 5 Series F10 Base Support System Roof Rack OEM BNIB $220.00 |
|
|
BMW 7 Series Base Roof Rack Support 750i 750li E65/66 $259.00 |
|
|
BMW 5 Series Wagon Base Roof Rack Support Bars 530 535 $235.00 |
|
|
BMW X3 Base Base Roof Rack Support Cross Bars Rails New $240.00 |
|
|
BMW X6 Base Support System Roof Rack 2007 2008 2009 $225.00 |
|
|
BMW X5 Base Base Roof Rack Support Cross Bars Rails New $259.00 |
|
|
BMW 1 Series Coupe E’82 Roof Rack Base Support System $210.00 |
|
|
BMW X5 E70 Base Support System Roof Rack OEM BNIB $240.00 |
|
|
OEM BMW X3 BASE SUPPORT ROOF RACK SYSTEM F25 MY 2011+ $219.95 |
|
|
NEW OEM BMW E83 CHASSIS X3 BASE SUPPORT ROOF RACK SYSTEM Model Years 2004-2010 $209.95 |
|
|
NEW OEM BMW E90 CHASSIS 3 SERIES BASE SUPPORT ROOF RACK SYSTEM MY 2006-2011 $199.95 |
|
|
NEW OEM BMW E82 CHASSIS 1 SERIES BASE SUPPORT ROOF RACK SYSTEM MY 2008-ON $199.95 |