Firstly trading is not hard. What makes this business hard is the eye watering amount of crap systems out there that appear to be ok then you start to lose and you never recover. Firstly indicators are totally useless, brokers supply them free because they give you no edge. Before you have a go at me over this make your point with evidence and fact.
Next the market is only ever in three states, up down sideways. Going sideways requires one method, going up and down require another. You don't know which state the market will be in, you can only see the past so you make an assumption the market will stay in its previous state. When it changes state you will lose a couple of trades, keep the losses small.
Greed and fear setting a 20 pip take profit on most days will always be filled especially in a ranging market. Do it on a trend day and you might never see that level again for weeks. The first absolute in trading is don't fight the market, I still make that mistake sometimes it is the kiss of death for any account. If the market is going up look to buy low, if its going down look to sell high. It really is that simple. All you work out then is where is high and where is low relative to price.
To illustrate this idea I am going to use the DAX
Monday I would look to sell the DAX between 10747.50 and 10729 my first take profit is 10650 my next is 10580. I am looking to sell because last weeks move was down, so I am selling into up moves
I posted this up on the forum before the fact, I use no indicators, simply looking at a chart helps, the only indicator I use is my timing indicator.
Turn Prediction Indicator V12 Return T
Next the market is only ever in three states, up down sideways. Going sideways requires one method, going up and down require another. You don't know which state the market will be in, you can only see the past so you make an assumption the market will stay in its previous state. When it changes state you will lose a couple of trades, keep the losses small.
Greed and fear setting a 20 pip take profit on most days will always be filled especially in a ranging market. Do it on a trend day and you might never see that level again for weeks. The first absolute in trading is don't fight the market, I still make that mistake sometimes it is the kiss of death for any account. If the market is going up look to buy low, if its going down look to sell high. It really is that simple. All you work out then is where is high and where is low relative to price.
To illustrate this idea I am going to use the DAX
Monday I would look to sell the DAX between 10747.50 and 10729 my first take profit is 10650 my next is 10580. I am looking to sell because last weeks move was down, so I am selling into up moves
I posted this up on the forum before the fact, I use no indicators, simply looking at a chart helps, the only indicator I use is my timing indicator.
Turn Prediction Indicator V12 Return T
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