EURUSD

Quoting JauntyLoon

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{quote} There isn't anything to learn, at least not from books. Also, *all* solicitations to learn to trade by attending seminars or hiring mentors are fraudulent. The only retail traders who can consistently make money are people who average in to stock index funds on a monthly basis and hold their positions for years. Effectively none - 99.9% - make any money trading forex, except by selling TA courses and other unrelated scams. TA is junk.

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Quoting JauntyLoon

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{quote} There isn't anything to learn, at least not from books. Also, *all* solicitations to learn to trade by attending seminars or hiring mentors are fraudulent. The only retail traders who can consistently make money are people who average in to stock index funds on a monthly basis and hold their positions for years. Effectively none - 99.9% - make any money trading forex, except by selling TA courses and other unrelated scams. TA is junk.

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Quoting hesron

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{quote} you can read , the rules in link https://www.bollingerbands.com/bollinger-band-rules 21. Bollinger Bands can be used on bars of any length, 5 minutes, one hour, daily, weekly, etc. The key is that the bars must contain enough activity to give a robust picture of the price-formation mechanism at work.

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Quoting JauntyLoon

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Here's a 30 min chart. 1) Where does price go next? 2) How far does it go in that direction? 3) Where do you put a stop? 4) Where do you put a limit? 4) If not using stop and limit, where/when do you bail on the trade? Any honest person will tell you that they have no f*cking clue. Dishonest people will draw 6 - 12 lines on the chart, because the more arbitrary lines you draw on a chart, the more likely it is price will eventually react to one of them. {image}

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Quoting JauntyLoon

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Buddy, Bollinger Bands don't tell you anything. Price will either bounce off Bollinger Bands or it will 'ride them' until eventually it stops. BB themselves are of no use in telling you which outcome will occur. Even if price 'bounces' off a BB, you have no clue how far it will bounce or for how long. All TA is like Elliot Wave: it can explain the past but not the future, because there are so many 'exceptions' to the so-called 'rules'.

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Quoting JauntyLoon

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Here's a 30 min chart. 1) Where does price go next? 2) How far does it go in that direction? 3) Where do you put a stop? 4) Where do you put a limit? 4) If not using stop and limit, where/when do you bail on the trade? Any honest person will tell you that they have no f*cking clue. Dishonest people will draw 6 - 12 lines on the chart, because the more arbitrary lines you draw on a chart, the more likely it is price will eventually react to one of them. {image}

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Quoting tiborf71

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for example, why do you want to trade this particular pair, when there are pairs with much better reliability. now.

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Quoting JauntyLoon

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{quote} G-d knows ... EUR/USD is supposedly beginner friendly. I've said a few times that a 50 > 200 MA (or 50 < 200 MA) cross on the daily chart seems to give a good trend 25% of the time, and the profits from that 25% of trending runs might make up for the 75% of the time that this is simply a whipsaw movement. But I need to write an algo that will test this thousands of times. As soon as you get below daily resolution, EUR/USD approaches more and more to a straight-up/straight-down/straight-up/straight-down cycle which is unprofitable for both...

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Quoting tiborf71

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{quote} the trendy strategies used by the herd will not work. come up with something new. this is just an advice.

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