Trade support and resistance and not complicated terms..

[Cryptosmart]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

[dave_strider]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

You choose what suits you yourself.
The main thing is whether it brings profit and enjoyment to you.
 

[Hatchy]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

So trading resistance and support zones is now considered easy? Don't be fooled by things you see online. You saw the guy who made 1m dollars from $100 but did you care to ask how much he lost before he was able to meet such target? Along the way he made some losses and kept trying till he got there. He didn't just make it in one trades but multiple trial.. I've forgotten his name actually as he's not even the first there are some other big traders whom did same.. s&r, works along side ict and smc you just need to practice them all... No one way will guarantee you huge profits...

[joniboini]

As basic as it was, remember that emotion also takes place when you execute a trade. I think you also need that skill even if you resort to basic trading indicators.

Or are you referring to setting up a trading bot that makes calls whenever a chart hits support & resistance? If it was that easy anyone would simply run a bot and make millions.

I'm pretty sure you can try and learn along the way, and find success to some degree if you're patient. As long as you don't think you'll make millions after dabbling with reading support & resistance after a few days. As mentioned above, there's no guarantee to anything.

[Stompix]

They are not complicated terms, everyone can easily learn what they are, the problems are different:
- identifying them correctly which almost never
- being lucky enough for a dream even not happening exactly when you're with your pants down

[Hatchy]

They are not complicated terms, everyone can easily learn what they are, the problems are different:
- identifying them correctly which almost never
- being lucky enough for a dream even not happening exactly when you're with your pants down

Obviously what the op is missing. It might look simple now until you test them out. Resistance and support are major zones that alot of traders watch out for in the Market. There are usually a lot of pending orders in those zones waiting to be triggered.  When I usually like trading the support and resistance is only when the market is in a range. The ranging market give you a perfect opportunity to trade using support and resistance. But you have to also be smart and careful with your risk management..

[hugeblack]

If the amount is $10,000, $50,000, or $100,000, we can believe that you can turn it into a million dollars, but $100, this is almost impossible, and whoever convinces you that you can easily achieve such profits from trading, everyone has become a trader. Converting $100 to a million dollars in a short period of time can only be done by being very lucky or a fraud, so do not try to be greedy or imitate such fraudsters, start and learn and know that 10% gains are worth celebrating, otherwise hodling bitcoin is the easiest solution.

[Stompix]

Converting $100 to a million dollars in a short period of time can only be done by being very lucky or a fraud, so do not try to be greedy or imitate such fraudsters, start and learn and know that 10% gains are worth celebrating, otherwise hodling bitcoin is the easiest solution.

Yeah, I was searching for the story to see what the deal was and stumbled upon the story:
https://www.instagram.com/fxalexg/
So a guy was able to make 1 million in 15 days but he is selling courses and trade signals, just a search on his name and he's a total scammer.

[luckyledger]

Converting $100 to a million dollars in a short period of time can only be done by being very lucky or a fraud, so do not try to be greedy or imitate such fraudsters, start and learn and know that 10% gains are worth celebrating, otherwise hodling bitcoin is the easiest solution.

Yeah, I was searching for the story to see what the deal was and stumbled upon the story:
https://www.instagram.com/fxalexg/
So a guy was able to make 1 million in 15 days but he is selling courses and trade signals, just a search on his name and he's a total scammer.

A common practice by "info" traders, so to speak.
Too many people believe in courses like these to bring them knowledge.
Even more fall victim to such thinking in search of a life change on a whim.

[_act_]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

But are you sure and confirm that it is true that someone friend $100 to $1 million? The probability of that happening is very small and I think the person likely gambled and the market favour him with the high leverage that he used. If such person tries it again, he may continue be losing. Trading is not as easy as that in making huge profit.

[target]

Sounds a bit too much to believe in turning $100 to 1M. But congrats to him. I don't doubt the system about support and resistance but in crypto where bear market flushes out everything, the system is almost disregarding support and resistance.

It could work on Forex and stick market but more than likely not on crypto.

[Mia Chloe]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

Almost no professional trader will heed to what you are saying right now. Every trader has his own analysis and methods for validating their entries to a trade. However some my stick to this particular support and resistance method of trading while some others may not the difference is in what works for every trader. You can't say all traders must make use of resistance and support and similarly not all pairs have frequent resistance and support.

Trading is not only about understanding the market or having a good analysis. The market is moved by liquidity meaning people who profit most off trading are  those that actually have the capital to put into the trade not those that manage funds to trade. Flipping $100  to $100k or more is nothing something analysis gives you in one trade.

[MrSpasybo]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

Well, what you mentioned only relates to technical analysis. You can try researching and applying it to a demo account to discover more issues.

You often seem confused when making decisions based on signals. That's a matter of timing and signal strength.

You’re not able to take profits or cut losses accurately: that's a psychological issue.

You don't have enough capital to survive the market long enough: that's a problem with capital management skills.

The journey to becoming a crypto millionaire is very difficult and relies on more than just a little knowledge or luck ^^

[gunhell16]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

If you have a deep and broad understanding of trading, especially the indicators that are also used in actual trading activity, I think that support and resistance can be easily used from another angle. But you must have another strategy to combine with that so that the chances of you getting a profit from trading will be high.

Because if you are not deep and broad in trading in this field of crypto business, then I can say that it is not easy to use support and resistance as a basis for you
to get earnings in crypto trading.

[lombok]

I just saw a post on Twitter where someone turned $100 to $1m trading only S&R, H&S and basic chart patterns. Come to think of it, isn't that better than trading complicated ICT/SMT concept's cos I see it as almost the same..I believe I'll be going back to the basics where the noise are less. What do you think traders..

If you have a deep and broad understanding of trading, especially the indicators that are also used in actual trading activity, I think that support and resistance can be easily used from another angle. But you must have another strategy to combine with that so that the chances of you getting a profit from trading will be high.

Because if you are not deep and broad in trading in this field of crypto business, then I can say that it is not easy to use support and resistance as a basis for you
to get earnings in crypto trading.

Indeed, Support and resistance are two very powerful basic elements of technical analysis, but to make use of them we have to have a broader perspective of other patterns and indicators. On the crypto trading, support and resistance are often psychological levels, but the amplified high volatility might pull prices above or below these levels within a short space of time. So, when used in combination with such other indicators as moving average, RSI or MACD, they give a more holistic idea of potential trends and true moments of reversal of prices. statistics also prove that in volatile markets, there are a lot of false breakouts hence we have to keep off in this kind of market while in the long-term we have to be very careful of our support and resistance levels. Therefore, learning the relations between the indicators will enable one to make better decisions when undertaking the activity.