Basic Principle
Just to establish basic principles, only constructive ideas which reasonably support or otherwise help to improve what is being discussed here will be facilitated.
Background and Preamble
At a time when most Trades are done using Automated Trading it can be advantageous to Trade manually since in the end the market is actually controlled manually by the market makers.
The question is how, It is done mainly through monthly and quarterly measures by the market makers anyone with a decent charting package can see this.
The next question is how can we follow and copy the market makers. Most people prefer the idea of making money than learning the art of trading, setting up rules and following them. But clearly this is what trading is all about.
My personal preference is not to leave this rule-following to machines so I simply look and learn from the Market makers.
There are basic things about trading which it seem must be learned from experience.
Indicators are reflecting what happen so often when you hear someone says you cant be profitable long term there mean you cant be profitable long term using indicators.
Successful trading requires a predictive system not a reactive system so its best to trash the indicators as a decision making part of our trading system....If we think about predictive systems there are loads of ideas or basis for ideas we can come up with to develop such a system.
I will therefore leave this open so whoever wish to share whatever predictive system they currently use or tried we can discuss here.
The only rule is It must not use indicator as trade decision making tool. Using the candles on the charts are way more powerful.
It is very important to understand visually what Trading as a retail trader with small capital is all about. I liken it to being an ant on an elephant.
The ant can stay on the elephant only by being in sync as the elephant moves. Practically this means don't over trade neither in number of trades per day as well as lot size.
EURUSD/USDJPY as indicators.
Takes us to the main point of this first post, How to trade Profitably using EURUSD/USDJPY as indicators.
This is really simple just find the most closely correlated pairs to the above pairs and place the trade on that correlated pair instead. For example USDJPY is very closely correlated with GBPJPY in Oct - Jan, so study USDJPY on the chart and take trade on GBPJPY pair.
Just to establish basic principles, only constructive ideas which reasonably support or otherwise help to improve what is being discussed here will be facilitated.
Background and Preamble
At a time when most Trades are done using Automated Trading it can be advantageous to Trade manually since in the end the market is actually controlled manually by the market makers.
The question is how, It is done mainly through monthly and quarterly measures by the market makers anyone with a decent charting package can see this.
The next question is how can we follow and copy the market makers. Most people prefer the idea of making money than learning the art of trading, setting up rules and following them. But clearly this is what trading is all about.
My personal preference is not to leave this rule-following to machines so I simply look and learn from the Market makers.
There are basic things about trading which it seem must be learned from experience.
Indicators are reflecting what happen so often when you hear someone says you cant be profitable long term there mean you cant be profitable long term using indicators.
Successful trading requires a predictive system not a reactive system so its best to trash the indicators as a decision making part of our trading system....If we think about predictive systems there are loads of ideas or basis for ideas we can come up with to develop such a system.
I will therefore leave this open so whoever wish to share whatever predictive system they currently use or tried we can discuss here.
The only rule is It must not use indicator as trade decision making tool. Using the candles on the charts are way more powerful.
It is very important to understand visually what Trading as a retail trader with small capital is all about. I liken it to being an ant on an elephant.
The ant can stay on the elephant only by being in sync as the elephant moves. Practically this means don't over trade neither in number of trades per day as well as lot size.
EURUSD/USDJPY as indicators.
Takes us to the main point of this first post, How to trade Profitably using EURUSD/USDJPY as indicators.
This is really simple just find the most closely correlated pairs to the above pairs and place the trade on that correlated pair instead. For example USDJPY is very closely correlated with GBPJPY in Oct - Jan, so study USDJPY on the chart and take trade on GBPJPY pair.