This is my 5 cents. I enjoy these topics. I have to laugh at the braggars and some of the fights. I've been trading for 6 years or so now. I'm addicted, to what's maybe a lost cause(looking for the Holy Grail). ....But I'm winning more and learning more. Sometimes I'm down to trading 10cent lots. But I'm not going to sit here and lie like alot of people and say I'm a winner overall, when I know 90% or better of traders are losers sooner or later.
I enjoy all these threads becasue after awhile, the best of what you've learned helps you to be more successful. Sometimes I tell what works and I'll hold back telling something that looks very promising.
For example, I don't think any indicator on it's own will make you be successfull. But if you know trend lines. And how often times when they're broken higer, they'll go the first closest high or down the first closes low except when stopped by a 30, 60 daily, 150 day, etc trendline or Fib, news, etc.. Fib retracements are great(try SpudFibo which is just a fib from the previous day) but if a trend line stops a price trend, the price or move is over. CCI divergences are wonderful too but trendlines and daily fibs can stop them too. Elliot Waves are good in their proper place but they're very hard to detect (almost abstract)with Forex unless there's alot of activity or a very fluid currency. So on and so on. After awhile it's starts painting a picture.
So putting it all together makes you wonder sometimes, is it worth it. You might say, Divergence will go here, if it's not stopped by a fib or trendline on the 1 hr or the 200 day here for example. News is like mindfields too, you gotta avoid certain times, but if you have enough draw down equity you can get through it "most of the time". Sometimes the important news will change everything.
One more theory that some wrestle with is what leads what?
Do the higher time frames lead the lower time frames, or do the lower time frames lead the higher time frames.
If there isn't any trendlines, etc. in the way of the higher time frames, the higher time frames should go in the direction they're suppost to go. But so many of them are stopped short.
The lower time frames, I feel, make the higher ones, but there's so many 1m, 5m, 4hr, etc trendlines flying around the 1minute and 5minute that they'll work for awhile and then a news event or 'higher time frame breakout' will move the 1m or 5m minute enormously.
Critics and Braggars are a 'dime a dozen'. After awhile you see what's important and what's not. I'll probably get slimed by some critic but that's OK. I've seen really nice guys, who have really nice threads, get verbally thrashed by loosers 'out of the blue' but that's this world we live. That's my 5 cents.
I enjoy all these threads becasue after awhile, the best of what you've learned helps you to be more successful. Sometimes I tell what works and I'll hold back telling something that looks very promising.
For example, I don't think any indicator on it's own will make you be successfull. But if you know trend lines. And how often times when they're broken higer, they'll go the first closest high or down the first closes low except when stopped by a 30, 60 daily, 150 day, etc trendline or Fib, news, etc.. Fib retracements are great(try SpudFibo which is just a fib from the previous day) but if a trend line stops a price trend, the price or move is over. CCI divergences are wonderful too but trendlines and daily fibs can stop them too. Elliot Waves are good in their proper place but they're very hard to detect (almost abstract)with Forex unless there's alot of activity or a very fluid currency. So on and so on. After awhile it's starts painting a picture.
So putting it all together makes you wonder sometimes, is it worth it. You might say, Divergence will go here, if it's not stopped by a fib or trendline on the 1 hr or the 200 day here for example. News is like mindfields too, you gotta avoid certain times, but if you have enough draw down equity you can get through it "most of the time". Sometimes the important news will change everything.
One more theory that some wrestle with is what leads what?
Do the higher time frames lead the lower time frames, or do the lower time frames lead the higher time frames.
If there isn't any trendlines, etc. in the way of the higher time frames, the higher time frames should go in the direction they're suppost to go. But so many of them are stopped short.
The lower time frames, I feel, make the higher ones, but there's so many 1m, 5m, 4hr, etc trendlines flying around the 1minute and 5minute that they'll work for awhile and then a news event or 'higher time frame breakout' will move the 1m or 5m minute enormously.
Critics and Braggars are a 'dime a dozen'. After awhile you see what's important and what's not. I'll probably get slimed by some critic but that's OK. I've seen really nice guys, who have really nice threads, get verbally thrashed by loosers 'out of the blue' but that's this world we live. That's my 5 cents.
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