Hi
Just joined this forum a few days ago but have been reading it or lifting files, resources for some time. I trade forex by spreadbetting in the UK. I have been in trading for a while with varying success. I am now into keeping things simple. So I am going to use this thread to document my thinking and trades using the simplicity mantra.
I like to trade off the 4hourly and the daily chart. As I have a 9-5 job (actually 9am-7pm!) and want to be able to look at the charts in the evening after the markets have closed and place orders for the next day then and then walk away.
Because of the above fact I am drawn to systems that do not require me to sit at the computer all day. Kudos to all that do that day in day out. But I just cant do it. I will make the wrong decisions, overtrade and that causes me to lose big time
I love using candle charts. I also generally trade reversal patterns like confirmed dojis, bullish/bearish engulfing patterns, hammers, spinning tops. I also use support and resistance, triangles (all of them). I need to keep things very simple.
I am trying to learn point and figure as it is well suited to long term trading. Any ebooks on this are welcome please
Enough for now lets make some money...
Just joined this forum a few days ago but have been reading it or lifting files, resources for some time. I trade forex by spreadbetting in the UK. I have been in trading for a while with varying success. I am now into keeping things simple. So I am going to use this thread to document my thinking and trades using the simplicity mantra.
I like to trade off the 4hourly and the daily chart. As I have a 9-5 job (actually 9am-7pm!) and want to be able to look at the charts in the evening after the markets have closed and place orders for the next day then and then walk away.
Because of the above fact I am drawn to systems that do not require me to sit at the computer all day. Kudos to all that do that day in day out. But I just cant do it. I will make the wrong decisions, overtrade and that causes me to lose big time
I love using candle charts. I also generally trade reversal patterns like confirmed dojis, bullish/bearish engulfing patterns, hammers, spinning tops. I also use support and resistance, triangles (all of them). I need to keep things very simple.
I am trying to learn point and figure as it is well suited to long term trading. Any ebooks on this are welcome please
Enough for now lets make some money...
Find a trend and milk it for all it is worth. That's how to be profitable