DislikedTakes a few YEARS but either lose all ya money/make close to nothing watching crap or start working hard now and in a few years be making ridiculous money. Tip 1: get rid of trendlines, fibs stochs, tdi, cpi whatever other retail crap, then Go and learn all about Market profile/Volume. Tip 2: do not trade news trade its sentiment. Learn more about economy. What markets influence your market. Trade 1 market. Theyre all connected know 1 100% Tip 3: after learning volume/Value start watching/trading demo on 5m and 1m charts Tip 4: Strategy will become...Ignored
Im not sure where you got the idea of “retail crap from” because banks use the same set ups, chart patterns (eg: double/triple tops and bottoms, triangle break outs ect…) Fibonacci macd rsi oscillators moving averages trends sup/res, sentiment s/d etc.…you get the picture.
Banks only have a marginal edge against retail traders (experienced one) and that is they usually have a master’s degree in finance, their own platform directly connected into the interbank and, generally buy and sell only though other banks.
Banks use a mix of technical and fundamental analysis. (this is also how I trade) Fundamentals are king. No technical analyst will tell you why the AUD climbed up to 1.10 then back down to .69 When you can understand why, you can trade the trend before it happens.
Lets say an AU mining company strikes a massive lithium deposit and AU become the biggest supplier of lithium for the world , what would this mean for the AUD? As this new age approaches of battery powered cars, lithium being one of the main resources is scarce. (hypothetical scenario).
The difference, banks can move the market when the time is right. Trading with 10 to 40 million tends to do this, depending on your experience depends on your account size. Banks also do not win every trade.
The reason why all these indicators trends and chart patterns work is because they are all taught in universities and every institutional trader gets taught the same things. They existed way before fx trading was opened to the public. Some of these techniques date back as early as the 17th and 18th century.
1st rule, the only thing that matters is price, price moves in trends, and human nature is constant.
2nd rule, money/risk management is more important than entry.
3rd rule, apply the 1st and 2nd rules.
And yes trading is a lot of hard work so you got to love it
20 Pips a day keeps centerlink away