Smart money concepts

Here is an overview of (to me) why support and resistance don't work (at a successful enough rate).

If you feel like this is the case be honest with yourself. And maybe try something new. please remember the 90 90 90 rule!!!

90% of traders
Lose 90% of their account
In the first 90days

Have a little think as to why?

For the majority of newbie traders that enter the market.. the first thing they are taught to understand?
Support and Resistance , Trendlines , Fibonacci (does work if used correctly)

So just be mindful of what the banks are doing and understand from their perspective that if they know the MAJORITY trade Support and Resistance ... Don't you think they know where the majority of the people stop losses are going to be? ...

Comments

How the big players operate: Their psychology, motivation and objectives

- How the big players operate: Their psychology, motivation and objectives. For many traders the psychology of the big players is a mystery. The big players don't care about your stops The truth of the matter is that retail trader's stops don't factor on the radar of bank traders at all. In-fact professionals don't even see retail stops on an individual level, nor could they care less because the sizes are too small. Big players care about groups of stops That is not to say, professionals don't care about stops. Stop orders are very important to the institutional traders on an aggregate level - that is, they care about where large groups of stops are sitting. This could happen when, for example, a large number of retail trader's stops are sitting at the same level, or it could be where a corporate or fund has orders placed. Even though a bank trader only has knowledge of their own book, this grouping of stops is generally happening across a number of banks at th...

Difference between BOS and CHOCH?

BoS = Break out Structure. CHoCH= CHange of CHaracter.

Disciplinedtrader101

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