DislikedYeah ok I respect that...
The chart I threw up in that post was a daily chart and was pointing out at the long term support level for the index, (it's already showing intentions of a bullish move via a possible Pin bar, again it's the daily I am talking abt )
Anyways yeah I agree with Jig we'll like to know what specific equities are you trading, and is it the conventional Jims' style or some other?
Regards,
Ghous.Ignored
My methods are very similar to James', which is why I follow this thread, I am very new to fx however.
My trading is very simple, based on volume and chart and candlestick patterns.
The advantage with trading the futures is that you can see the big money coming into the market at major levels so you can get in at the very beginning of a move, and if a trend develops with further price/candlestick confirmation you can build into a large position.
I personally think fx is very difficult to trade on lower TFs so I am talking mainly about equity indices here, but watching the markets everyday you learn to recognise rejections and reversals even with atrocious candlestick patterns - the reason for this is the time element in charting, so to be able to put bits of PA together whether based on the chart or order flow to build a picture is a valuable skill imo.
I have to say the discipline with which some people here trade with is impressive and seeing this has made me try to improve my own. No doubt you lot are better traders than me.