Greetings traders! At last I have returned and am actively trading again. I will be updating my trading strategy by and by for those who follow me. The market is yours to take, so go out and seize it while you can! Happy trading!
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DislikedGreetings traders! For anyone who has ever followed or interacted with me here, I am still here. Currently I am simply watching the market. I have many interests which constantly pull me away from here. But trading is my passion, I cannot live without it! I shall return in due time to active trading. Best of wishes to all!!!Ignored
DislikedFor anyone who follows me here: I urge caution when browsing this site and taking trading advice. It is rare to find a balanced, unemotional trader who can see both sides of the market equally. For those interested in my trading strategy, I lost my notes years ago while I was in the process of uploading my full trading method. I'm in the process of creating my notes again. Here is a link to the system I use: https://tradingmastermind.com/forex-training/ Here is a youtube link for the creator's channel: https://www.youtube.com/channel/UCpy...L-9__aovbLj-8w...Ignored
Disliked{quote} Hi TaoTrader, Thanks for the link. I believe you took this course years ago. Are the course content still the same and the quality of trader/instructor still upto par? I tried with forex long ago but it did not work out then. Now I am looking to adopt Forex/trading as my full time career and am ready to invest time and money to do it right. Will you still recommend this course? Any other recommendation you may have? I have partial success in day trading now but its too much stress. So looking for better ways of doing it. Thanks.Ignored
Disliked{quote} Hi Lalloo, Yes I learned how to trade using this course in 2008. It has been updated a lot since then. I'll be going through the full program again this year. It was cheap back then and now its expensive. Yes I definitely recommend this course. I spoke to the creator of this course too so I had a chance to really get a sense as to his motivation and full training. This guy is the real deal. He knows his stuff. He is the most effective Forex trainer I've ever seen. Besides this course I would recommend babypips.com. Are you interested in...Ignored
Disliked{quote} Thanks TaoTrader. Scalping is not my thing. Position trading probably wont work for me as I intend to use trading to pay my bills . I have reasonable capital to start with but intend to start small with minimum capital and will add as I feel more confident. Capital preservation will be paramount for me. Intention is to retire from my day job and live off trading and pass the trading knowledge/skill to my kids. All I will need is about 10-15 % return per year. Anything more is a bonus. So given above parameters do you think day/swing...Ignored
Disliked{quote} I'd say you want swing trading. You can mix in some intraday trading, but I would recommend focusing on swing trading. Once you get the hang of it, you will see it's incredibly easy. You'll just be looking for entry and exit signals. Once a week I usually do a full market analysis when the Forex market is closed. The most important indicator I use is Elliot Waves. I also recommend you purchase "The Candlestick Course" by Steve Nison. Most of the traders on here use bloated charts with lots of indicators and numbers, and you can't even see...Ignored
Disliked{quote} Thanks TaoTrader. I have ordered the book and will read as soon as I get it. I will also register for the course this week. For now I will continue reading/learning and will trouble you when I need help understanding course content or other help. Thanks.Ignored
DislikedHi Tao, love your detailed explanations. Anyway on the point for MAs, shouldn't the entry be when the MAs compressed instead of fanning out? I had always thought so, since the price would be at its optimal position to ride the trend upwards. In this example, it would mean purple lines compressed above white lines? Do correct me if I'm reading it incorrectly. Thanks! Third and fourth images: This chart uses a group of 2 sets of multiple moving averages, one representing short term and the other representing long term traders. Entry signal is when...Ignored
DislikedDo you mean "touch the lower band(green line)" instead? Fifth and sixth images: This chart uses bollinger bands. Entry signal(for long entry) is when the candlesticks touch the upper band(green line). The middle line is not an entry signal. I tend to use several sets of moving averages within the bands here, but for simplicity this demonstration only shows the bands themselves. Because of the nature of this indicator, it can be used more loosely than the other indicators for an entry signal. Currently, the daily chart is not touching the upper band,...Ignored