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- bevok replied Dec 29, 2011
Agreed, trading systems are like evolution, the species that survive long term tend to be very simple and adaptable to a lot of different solutions. Ignore all the genetic algorhythm/RSI/CSI etc nonsense and find something with less than half a ...
- bevok replied Dec 29, 2011
I agree that the longer term trading is the way to make serious money as your average trade leaves plenty of profit once the spread, slippage etc are taken into account. I think the best way is either to trade the futures market (you'll need a ...
- bevok replied Dec 29, 2011
Some useful advice from Peter Brandt that holds up to observation (from the book Diary of a Professional Commodity Trader): I greatly prefer to trade a pattern that offers a horizontal or flat boundary, such as the boundaries of a rectangle, ...
- bevok replied Dec 29, 2011
Your analysis looks fine, the most interesting thing is that long Kangaroo tail pointing down, as you say not many orders/much interest there. Main comment will be you're playing a low probability trade with the longer timeframe being clearly in a ...
- bevok replied Dec 13, 2011
Thats really interesting to see your interpretation, it all goes to show how chart patterns and trend lines really are 'in the eye of the beholder'! For me, the obvious trend line has the break much earlier in early September, with the classic ...
- bevok replied May 29, 2010
Yes be careful Monday, Memorial Day in US, Bank Holiday in the UK, will likely be a thin market so could be some 'long tails' that day
- bevok replied May 29, 2010
Yes I think this thread will definately be subject manager for some future doctorate in forum guru phenomena LOL. The original intent has become distorted - I certainly can't follow what people are talking about in the later stages, and haven't got ...
- bevok replied May 27, 2010
Not quite zero sum, market makers and brokers skim their profit off each trade whatever way it goes.
- bevok replied May 26, 2010
Looks more "flaggish" on a daily. Volume is dropping in the futures market so maybe . . . Do you trade classical patterns as your main system? I've never used them (too much in the eye of the beholder) however the market behaviour behind the ...
- bevok replied May 25, 2010
Very true words! Its good that you have someone successful helping you, I think you're in a very advantageous position, something I wish I had had in my first couple of years. Look, if you find averaging down takes the emotions out of it and you can ...
- bevok replied May 25, 2010
You misunderstood my point, I'm not talking about the legitimacy of averaging down as a trading technique, or that its 'wrong'. I'm saying that successful trading is far more about the trader than any technique - we are our own biggest business ...
- bevok replied May 24, 2010
Haven't heard of Dennis Gartman before, but that video is priceless and couldn't be clearer. Lots of people in this thread advocate some form of averaging down. Those people might be absolutely outstanding traders with iron discipline and multi-year ...
- bevok replied May 24, 2010
Its no use playing the blame game. Until the people and politicians really face up to the reality that they are responsible for sorting the problem out the worse its going to get. Best thing (not for the overseas banks though) would be to default, ...
- bevok replied May 22, 2010
One of the keys here is your philosophy about entry - do you believe that price falling is an opportunity to hop on a trend more cheaply and make more money, or is that a sign of weakness and exposing you to greater risk of a reversal? At the end ...
- bevok replied May 22, 2010
I agree that simplicity is good as it is robust, however you need to test your method on much more than 12 weeks of data. The markets change too much to draw any conclusions from this period. Look forward to seeing what you're doing though, and good ...
- bevok replied May 20, 2010
Realising I was trading for excitement and action rather than to make money.
- bevok replied May 20, 2010
So called 'hedging' is something thats promoted as a fantastic way of parting retail forex traders from even more of their deposits thanks to additional spread and unfavourable swap rates. If I were a broker (or a forex educator who was an ...
- bevok replied May 20, 2010
Will be interesting to see if its just a run on weak shorts or not. I certainly wouldn't want to be long yet.
- bevok replied May 20, 2010
My winning trades average 44 days, my losers average 12 days. Let your winners run . . . as they say!
- bevok replied May 20, 2010
Averaging down and its fellow tactic scaling out appeal to our psychological desires to: a) be right. Scaling down means often one or more winning trades as well as one or more losing trades. Having a winning trade or two on at the same time as the ...