I have been trading purely technically for the past year with varied results.
It is with this in mind and the help of reading BWILC that I have decided to take a new approach to my trading.
When I mentioned technically trading I didn't mean millions of indicators, I traded using S & R, using them to determine breakout points on a 15 minute chart.
I didn't look at fundamentals before ainly out of laziness, I felt that if I could trade based on technicals alone then why try and learn more.
The answer is what has happened the last few months... the markets (cable) has been eratic and I can't really see any real patterns to trade from. Last year I would have nearly one good breakout everyday. This yeari'm lucky if I see one a week...
So the way forward... I will still use S & R as I just cant give them up :-)... but I have also tasked myself with learning the fundamentals of what really moves the forex market over the long term... I will trade longer timeframes and finally I will use other markets (gold etc) to help me take a longer term view o things...
Has anybody travelled this road before... what was the transformation like and was it worth it.
It is with this in mind and the help of reading BWILC that I have decided to take a new approach to my trading.
When I mentioned technically trading I didn't mean millions of indicators, I traded using S & R, using them to determine breakout points on a 15 minute chart.
I didn't look at fundamentals before ainly out of laziness, I felt that if I could trade based on technicals alone then why try and learn more.
The answer is what has happened the last few months... the markets (cable) has been eratic and I can't really see any real patterns to trade from. Last year I would have nearly one good breakout everyday. This yeari'm lucky if I see one a week...
So the way forward... I will still use S & R as I just cant give them up :-)... but I have also tasked myself with learning the fundamentals of what really moves the forex market over the long term... I will trade longer timeframes and finally I will use other markets (gold etc) to help me take a longer term view o things...
Has anybody travelled this road before... what was the transformation like and was it worth it.