Hello,
Im a lurker in this forum and I give thanks to all to helping traders like myself.
I've been back trading using the strategy tester on max. speed. I use one indicator : moving average of 50 to show me trend. I also use the daily chart.
I watch the up and down animation of the daily chart and I seem to get the feeling of where the price will get to and turn around. I m basically fishing tops and bottoms. I put in my stop loss of 125 pips. I trade oil. It seems profitable for me. My average tp level is around 60 pips. I get more winners than losers obviously to make this a profitable system.
I dont like reading charts as I've lost lots of real money doing so. Is there an indicator which replays time and time again until the current daily bar is finished? What I mean is I would love to see in a separate window the daily bar going up and down at a high speed always incorporating the new price movement.
I hope that made sense.
If you want to try it, just use the strategy tester on the daily chart and look for the rythm of the price movement up and down. You ll see things that you dont see as easily on the charts.
I usually wait for higher highs and lower lows chasing the retrace..
let me know your thoughts.
thanks
Im a lurker in this forum and I give thanks to all to helping traders like myself.
I've been back trading using the strategy tester on max. speed. I use one indicator : moving average of 50 to show me trend. I also use the daily chart.
I watch the up and down animation of the daily chart and I seem to get the feeling of where the price will get to and turn around. I m basically fishing tops and bottoms. I put in my stop loss of 125 pips. I trade oil. It seems profitable for me. My average tp level is around 60 pips. I get more winners than losers obviously to make this a profitable system.
I dont like reading charts as I've lost lots of real money doing so. Is there an indicator which replays time and time again until the current daily bar is finished? What I mean is I would love to see in a separate window the daily bar going up and down at a high speed always incorporating the new price movement.
I hope that made sense.
If you want to try it, just use the strategy tester on the daily chart and look for the rythm of the price movement up and down. You ll see things that you dont see as easily on the charts.
I usually wait for higher highs and lower lows chasing the retrace..
let me know your thoughts.
thanks