Just a quick follow up on that subject. Did you ever wonder why do all Brokers offer you demo accounts before asking you for your Money? Yet 98% of all forex traders are losing money.... Hmmmmmm
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DislikedBig E, thanks for all the examples. I still have a problem though filtering out the losing trades on 5M and especially 1M. For example in post #198 left side of chart the stoch appears to cross down 4 times between the second and third vertical red lines. Each one would have been a loss. The yellow ema was still sloping downward on the first two of the losing trades confirming a short. I know you could say the red stoch line was heading up but on the last trade on the right of the chart you took a short trade counter to the preceding slope of the red stoch line. Adding RSI isn't a big help.
Even using both the 5,3,3 and 25,2,3 I see losers that seem like they could nickel and dime away your profits. Sometimes just looking at the candle bodies of possible past trades on MT4 they may appear to be winners but there are wicks that would have put you temporarily negative 5 or more pips which may have caused you to close the trade with a loss.
Maybe I am just too tired right now. Big E, what do you feel is a realistic win loss record using the 2 stochs? 100 pips/day on EUR/USD with a small SL (maybe 8-10 pips?) still sounds very good.Ignored
Dislikedback to business
Red,
Have you noticed that when the Stoch lines are in the zone above 90 and below 10 and they cross that this is most often a very bad time to take a trade. It seems that the only possible time to take a trade in this danger zone it when the Stoch makes a sharp elbow turn rather than a nice smooth curve back into the field of play.
What say you?Ignored
Disliked
I think this thread should take a new turn to discover ways or knowing when there is a trend.
Green pips to all.Ignored
DislikedHey Guys,
Anyway, back to the point. Someone asked him what indicators he uses when he trades. He said Stochastics and Bollinger Bands. Thought it was interesting and in line with our thread here. Just wanted to share that.
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