How To Draw Support & Resistance Zones That Don't Suck.
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- Опубліковано 22 тра 2023
- Trading is risky, and most people lose money.
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FTC/CFTC Risk Disclaimer - Please read this so you're 100% aware of the extreme risks associated with any type of trading and investing.
I’ve said for years and years and years - trading is extremely risky, and most people will lose all the money they try to trade with - even the people who follow the information I provide. Trading is a skillset that is difficult to learn, and I make it look easy because I’ve been trading for 7+ years. As with any high performing skillset in life, trading is NOT easy.
Your likelihood of consistently making money trading is abysmally low, whether you learn on your own or whether you follow the things that myself or others teach.
It’s like becoming a doctor, many people start pre-med and medical school, but only a tiny fraction of them succeed and actually become doctors. The average success rate of trading is even worse that that! Becoming a doctor is obviously not for everyone, and becoming a trader is obviously not for everyone, too.
I (and my company, MissionFX, LLC) make NO guarantees/promises/express direct or indirect representation that you’ll achieve any specific result trading, regardless of whether you’re following my free or paid content.
I’m just some random guy on the internet who is sharing what’s worked for me - I have no clue what will work for you because there are a million contributing factors that will determine whether or not you will make money trading.
Do NOT take into account any information that I share anywhere on the internet as the basis for your trading decisions. I’m not responsible for your success, nor am I responsible for your failures.
Read the full risk disclaimer on my website below, so that you’re 100% aware of the risks associated with trading - then you can make an informed decision as to whether or not you want to continue following any of the information I share (or continue to pursue trading in general).
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Congratulations!
You just found the most valuable 1min on UA-cam
I am trading for over 16 years and i can safely say, even with such a short video, that this guy gets it! So, most get distracted with all stuff, distracted from their goals and targets, by keep on searching on the right moves and strategies. A master traders knows, and he already had me there, focus on Daily first! If Daily have a certain trend, don't go against it. Much love brother
Whats the 101 on your opinion to understanding stock and all its vocabulary
Bro I need a mentor!
@@whydoyouneedmyname6508you got all these free mentors on UA-cam, pick a style you like and master it
@@whydoyouneedmyname6508no, you just need to study
Love this comment 😂 explain this to 99% of the population 👏👏
When u draw your zones, remember to wear a pair of Rayban shades. They will help u identify the zones more accurately. LOL
tried it, u was right mrwong. thank u lol
@@romanixchrome lol..
The Man, The Myth, The Legend!
BEST youtube short ever!!! Love it!!
Just found this guy a few days ago and I've been binging ever since. Honestly, one of the few traders I think I'd like to have a beer with. Thanks for all you do, Nick. Entertaining, down to earth, not ridiculously flashy. Just awesome. Much respect.
IF YOU ARE LEARNING HOW TO TRADE THIS VIDEO IS IT FOR YOU!
why hm @@CodyM88
This guy is a genius
This guys tho, i can't stop listen to him, everytime a video comes out i have to watch and enjoy it. Learn so much and slowly becoming profitable with his method.
This is the best advice that any UA-cam trader ever gave.
I've been following you for the last 2 years ... Simple strategy without any BS.
You're the best Nick !!! 👏
Nick is as good a youtuber as a trader. Literally enjoyed the short, and got valuable lesson of trading. 🙏
Finally someone who actually gives advice and not them talking in circles for 20 minutes. Thanks
Just came across your page recently. UA-cam Algorithm needs to step their game up. Should've known Nick earlier haha 🙏 legend mate thank you
This is factz people, the simple strategies are the best too follow💯
What an absolute legend, love this guy😂😂
Well thanks for constantly delivering Nick!
Thanks Top G!
You are a legend 🎉
always remember " Make It Simple"
Nick is funny 😆
Nick, your UA-cam skills are almost outgrowing your Trading skills here man!
You deserve so much more credit !
My boy spitting fire! No gatekeeping round here! ✌🏽🫶🏽✊🏽
You are smart, hilarious, and educational. Thank you. 🙏
BOTTOM G given TOP content...
Love this mans confidence
Funny but Informative ❗️
Love the video!
Love this guy
Man's is on his content game😭❤️🔥
this dude makes sense.
That's it bro, ty
Ich bewundere dich wie weit du es geschafft hast. 👌
The best you ever did 🎉
Bro! Truth
The more you yell at me the more I win. Thanks Nick 👍 *wipes spit off my face*
Oh God, he can stop! Love you!
Hey hey! Love your Telegram channel, I don't mess with FX much, but saw you took a short on SOL. Any way you can consistently add 2-3 major cryptos in your daily routine?
GIGA
Hhhhhhhhh😂😂😂😂😂😂 the best way to teach people i love you man 😂😂😂😂❤❤❤
Freakin awesome!
so if the stock doesn’t bounce back off the support, should i already just have a stop loss almost right below it to minimize the loss the most
Best one minute
Why not just add a buy or sell limit or stop?
I love this guy’s attitude I wish I had the money to join his membership and learn from him
get to work.
It's worth it even if you can only join for a month in the close friends group.
@@BrandonDrives any idea how much
Just study got damn
Damn, I still don't know where EXACTLY to draw S/R, I guess he finds the closest S/R zone from the current price level?
That's exactly it, according to what i got as well. It's the daily chart so each candle is a day of market movement, so these zones should be reliable enough for day or several days trading rather than weeks or months
But i wonder if this actually works on crypto because of its high volatility. Idk if i just suck at finding these zones or if I'm doing it correctly but crypto is too unpredictable for this to be as profitable as forex for example.
Yes there’s probably a few indicators you can use that can find it for you too
Nice one
5 Stars!
Guys. Determine the trend first before trading
🔥🔥🔥🔥🔥🔥
Hi which tools you use for trading viewer and which broker i want to use alerts
‘Le Bounce’ yaasss
Nice one but I would rather go on higher time frames H1, H4, D1 were the zones are stronger.
Just in the nick of time 😅😅😅 thank you
Top "T"
GOAT
😂😂 cool. Resonates with me
What platform do you recommend to trade on?
So you draw the top line for the zone where he says but how far down do you drag the zone (how thick). Little confused on how I should be doing it and I'm new to this
Terminator X!
What do you click on to draw the zones?
This is what most people do are you sure this is what you should be doing?
Try S & R and more relevant levels like 15min & 5mi then understand you just have to adjust then every day or so to keep them current...That way you stay in the money with your stop losses respectfully around 5% - 10% of the stock price ..Say your trading higher time frames of a Daily then to stay in the money your stop would almost need to be 20% - 30% of the stock price..And in order to get good moves worth this squeeze to ratio of stop you would almost be trading stocks that are $100 per share or higher which may help you win but you won't be able to buy many shares.
love ya
How do you know how thick to make the zones?
You can draw them right on the closing body of the candles reaching to wear the high or low of the wick is - price always react to when it's reaching the high or low of the wick to decide whether it's going to respect the zone or break it
Place the zone where it makes contextual sense to do so. If there's 1 massive wick going past the zone. Probably shouldn't pay attention to it. Also, it depends on the timeframe 🤷♂️
Zig Zag indicator connects automatically to the lowest and highest wick. Draw horizontal lines off the points. Way easier than pushing rectangles all day because the line shows on every timeframe endlessly.
easy
Why alert and not directly a limit order?
You may still want to wait for a retest, break or a bounce. As Nick says, after reaching the zone, price goes either up or down :)
Is support and resistance the same as supply and demand?
i love alerts
I was feeling In all the video that now his face will collide with mine😇
can you help me start here?
50%
Hey Nick! Love you and i will ask you... Why you upload videos and make content if you are a profitable trader? I mean, you dont need to do it right?
Simple. He loves what he does and it’s a second source of income. Simplicity my friend.
but why did he choose the high resistance level? and not the one directly above the current price
💪💪💪
😂 Bruh ❤
God I enjoy his antics more than his trading😂😂😂
I wish it was that easy... I guess you nail it with experience and time. I always f*ck them up because I don't adjust them and sometimes it just comes to tickle my SL and shoots right back up for a winner... f me.
My MFX GUY !!!!!!))
I need help trading brother
🎉🎉🎉🎉🎉
You are cringe but in a good way 😂 I love it
DO YOU LOOK AT NEWS WHEN YOU TRADE??
0:00
Your a sweet man with a beautiful heart. Trust Jesus dear. Take care of yourself.
His true secret is to wear sunglasses.
Make more of these stop with the longer vids
How do you know how big to draw the zones?
What is your risk/reward ratio?
Any other confluences that trade a breakout vs a rejection? Or always short resistance and always long support?
Your doing too much buddy
If the bigger trend is going up, then only look for buys at the obvious bounces. Same goes for downtrends. Look only for sells at the obvious bounces. Start with a 1:1, and then manage your trade. Break and retests at resistance works for uptrends, and break and retests at support work for downtrends. If you are in an uptrend, and price has reached a huge resistance, then expect break and retests, but make sure price confidently breaks out and makes a huge arc that goes back to retest. Do not accept tiny candle breakouts above resistance. This is often where new traders fail. Make sure the scale of the breakout is proportional to the chart size. If the breakout is too small compared to the size of the chart, then it's probably a fake out, and is actually a good time to trade the opposite direction back into the zone.
🔥🔥🔥🔥🔥😂😂😂💯💯💯💯
....dominic...toretto?
That's the only reputable strategy in Forex at the end
I foolishly lost 40K trading penny stocks over 12 years - wish I had seen Nick's videos yrs ago. Am gearing up to get back in - currency pairs not mf equities. Tough to do when senility is a major part of life though. Green grass and high tides to all.
😂❤
🤣🫡😁
You are handsome.
Bruh
😂
😂😂😂
🤣🤣
Are you now using SL instead of hedge?
Hedge work best for me.. I never trading as confident as I am before.. Thankyou so much for your method Nick
@Be Like Water He's using a regulated broker that's integrated with tradingview, he can't hedge with that broker. I do believe he's using a very similar risk structure to hedging, When not hedging
@Be Like Water he is from Texas, im guessing by chance you arnt. Thats probably why.
@@BrandonDrives is he talking about this new strategy somewhere?
@stfustfu1 is who? Specify the exact question, please. Nick talks about strategy's in his 3 latest youtube videos as of todays date.
"I lose a bit" **2.5k**