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Reading next day high / low

  • #1
  • First Post: Oct 7, 2009 12:24pm Oct 7, 2009 12:24pm
I want to ask for opinion where i can learn / study indicators / market trends to help me decide if next day's market will be going up or down. Has anyone come across any of these indicators / trading method?

thnks in advance.
  • #2
  • Oct 7, 2009 12:48pm Oct 7, 2009 12:48pm
I've tried the crystal ball, and tarot cards.

I've since dumped those for a magic 8 ball.
  • #3
  • Oct 7, 2009 1:35pm Oct 7, 2009 1:35pm
Amazing.
  • #4
  • Oct 8, 2009 3:59am Oct 8, 2009 3:59am
Quoting gerald20000
I want to ask for opinion where i can learn / study indicators / market trends to help me decide if next day's market will be going up or down. Has anyone come across any of these indicators / trading method?

thnks in advance.

Don't take any notice of those jumped up no hope mickey takers. But that was a big question. Read through the "sticky" threads at the top of Rookie Discussion then go to babypips.com and read through that site. Let us know when you've done that what you think, will you?
Gone to a better place
  • #5
  • Oct 8, 2009 4:05am Oct 8, 2009 4:05am
Quoting gerald20000
I want to ask for opinion where i can learn / study indicators / market trends to help me decide if next day's market will be going up or down. Has anyone come across any of these indicators / trading method?

thnks in advance.
George Soros is not FF member .......... personally contact him for an answer - I doubt he knows.
The Thief of Wall Street
  • #6
  • Oct 8, 2009 4:10am Oct 8, 2009 4:10am
thank you for the input smikester. only u made some sense. i am already trading and just want to know any way to improve my day trade.

thanks.
  • #7
  • Oct 8, 2009 5:46am Oct 8, 2009 5:46am
I find that magic works pretty well. A little voodoo here and there.
  • #8
  • Oct 8, 2009 7:45am Oct 8, 2009 7:45am
Teach me if you find one that works.
  • #9
  • Oct 8, 2009 9:05am Oct 8, 2009 9:05am
Quoting gerald20000
thank you for the input smikester. only u made some sense. i am already trading and just want to know any way to improve my day trade.

thanks.
Current and previous days Price Action can give you some clues as to market sentiment and the possible direction, but that would only be a bias call (ie Hammer after a good pullback would give me an indication that the next couple of days MAY, and I stress MAY be on the upper).

Apart from that the comments most others have made, while crude, are pretty much on the mark. There is no telling the exact future, just making educated guesses from what you can see.
  • #10
  • Oct 8, 2009 10:03am Oct 8, 2009 10:03am
Thank you very much.
  • #11
  • Oct 8, 2009 11:13am Oct 8, 2009 11:13am
Repeat after me: I do not need to predict tomorrow in order to make money today.

There is no way to reliably predict action in the market outside of the immediate scope. A trend is just a trend until it isn't, all that really matters is what the market is doing right at this exact moment.

From that you can derive a short term edge that can lead to better long term risk management that lets you ride the trends as long as you want while keeping your losses very small should the trend reverse.

That's why ppl here that actually trade and make money doing it are all going to tell you the same thing: You might as well invest in a crystal ball, it's just as good as any other "system" out there.
  • #12
  • Oct 8, 2009 11:24am Oct 8, 2009 11:24am
What you do not know, do not assume it is not there.
  • #13
  • Oct 8, 2009 12:07pm Oct 8, 2009 12:07pm
You can't prove a double negative. Scientifically, we require repeatable evidence in order to support a claim.

I have never seen repeatable evidence that says you can predict tomorrow's direction by looking at today. I have, however, seen a large number of tests that suggest the odds to are 50/50 given a large enough sample.

But I'm not sure why I bother with this. I just felt an itch, so I posted. Truth is, you won't believe it until you're ready to. The search for the holy grail must be lined with the blood, cash and tears of a million traders by now.

People don't make money in this business by making predictions about tomorrow, they make money by trading the market the way it is now.
  • #14
  • Oct 8, 2009 3:32pm Oct 8, 2009 3:32pm
Quoting gerald20000
What you do not know, do not assume it is not there.
You asked for our opinion, and we gave it. If you think we're wrong, then prove it to us. Find, develop, steal, get a way to predict tomorrow's closing direction, and I will pledge my programming skills and computing resources to further your research.

Until then, my position is firm: There is no reliable way to predict tomorrow's direction.
  • #15
  • Oct 9, 2009 6:16am Oct 9, 2009 6:16am
Quoting Chicky
George Soros is not FF member
How can You be so sure?
  • #16
  • Oct 9, 2009 7:34am Oct 9, 2009 7:34am
Quoting gerald20000
I want to ask for opinion where i can learn / study indicators / market trends to help me decide if next day's market will be going up or down. Has anyone come across any of these indicators / trading method?

thnks in advance.
Here you go.
Just what you wanted.

http://www.forexfactory.com/showthre...hlight=amazing
  • #17
  • Oct 9, 2009 8:15am Oct 9, 2009 8:15am
Quoting billbss
Here you go.
Just what you wanted.

http://www.forexfactory.com/showthre...hlight=amazing
Im not sure that will help. That will give the info for the day to trade but still leaves the question about the next day

Razor
  • #18
  • Oct 10, 2009 10:09pm Oct 10, 2009 10:09pm
Quoting Chicky
George Soros is not FF member .......... personally contact him for an answer - I doubt he knows.
Gerald20000, that was a joke, but the following is serious talk.

It is impossible to know tomorrow's high and low or what market is going to do in next 24 hours or five days.

But it is very easy to know what market is going to do in next few years. The only thing one needs to know for any market. Rest is just how you manage your money. Think about it, it makes lot of sense.
The Thief of Wall Street
  • #19
  • Oct 10, 2009 10:27pm Oct 10, 2009 10:27pm
Quoting gerald20000
I want to ask for opinion where i can learn / study indicators / market trends to help me decide if next day's market will be going up or down. Has anyone come across any of these indicators / trading method?

thnks in advance.
Here's a tip: the next days market will go up and down. If it's Friday though, you'll have to wait until Monday. Watch out for the holidays though. No indicators needed.
  • #20
  • Oct 10, 2009 10:47pm Oct 10, 2009 10:47pm
Quoting GulfCoastPip
Here's a tip: the next days market will go up and down. If it's Friday though, you'll have to wait until Monday. Watch out for the holidays though. No indicators needed.
You are wrong.



Wait for few hours, somebody will comeup with some sort of indicators for this too. And someone else will apply MACD, SMAs, EMAs, Pisser (yes), Stochastics, and all such other shits to forecast tomorrow high, higher high, low, lower high, higher low, and other bs. not having a clue what is going on in the economies and how it affects fx commitments.
The Thief of Wall Street
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