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  • #61
  • Nov 8, 2009 8:23am Nov 8, 2009 8:23am
Quoting domino
s/r, trendlines, fibs, you need none of it really... its much simpler than that.. they are all really pointless.
Yes. Exploit the advantages. Ignore what you cannot control.

There are advantages to forex that few exploit:

high liquidity
24hr market
ability to long or short with ease
high historical correlations


Instead most trading systems are based on lines and candle patterns.

Indicator systems invariably turn into EA creation threads that go on forever. Instead of trading it ends up with countless trials on demo accounts in search of nirvana.

PA threads have thousands of posts explaining a supposed simple concept. There is always an exception to an exception to the pattern one sees. All to be kept track of until another exception occurs in an attempt to explain away the true randomness.
  • #62
  • Nov 8, 2009 9:00am Nov 8, 2009 9:00am
[quote=deuce;3215828]Yes. Exploit the advantages. Ignore what you cannot control.

There are advantages to forex that few exploit:

high liquidity
24hr market
ability to long or short with ease
high historical correlations


quote]

Care to elaborate how above are:

Advantage:
1 : superiority of position or condition <higher ground gave the enemy the advantage>
2 : a factor or circumstance of benefit to its possessor <lacked the advantages of an education>
3 a : benefit, gain; especially : benefit resulting from some course of action <a mistake which turned out to our advantage
  • #63
  • Nov 8, 2009 9:30am Nov 8, 2009 9:30am
Quoting deuce
PA threads have thousands of posts explaining a supposed simple concept. There is always an exception to an exception to the pattern one sees. All to be kept track of until another exception occurs in an attempt to explain away the true randomness.
BRAVO, BRAVO
  • #64
  • Nov 8, 2009 9:33am Nov 8, 2009 9:33am
Care to elaborate how above are:

Advantage:
1 : superiority of position or condition <higher ground gave the enemy the advantage>
2 : a factor or circumstance of benefit to its possessor <lacked the advantages of an education>
3 a : benefit, gain; especially : benefit resulting from some course of action <a mistake which turned out to our advantage[/quote]


I use them to adjust positions without concern of gaps and ride out volatility spikes.
  • #65
  • Nov 8, 2009 9:37am Nov 8, 2009 9:37am
Quoting deuce
Yes. Exploit the advantages. Ignore what you cannot control.
One can control:

 

  1. their position size
  2. their risk
  3. their stop loss
  4. when they enter a trade
  5. when they exit a trade
  6. the size of their losses.

The rest is up to the market.

  • #66
  • Nov 8, 2009 10:24am Nov 8, 2009 10:24am
Quoting xtraction
One can control:

 

  1. their position size
  2. their risk
  3. their stop loss
  4. when they enter a trade
  5. when they exit a trade
  6. the size of their losses.

The rest is up to the market.



Yes, we can control those things. But that can be said about any tradeable market. We need to find things that forex offers that are not available in those markets and use them to our advantage. Otherwise why should we risk our capital in an unregulated OTC market when relatively safer, regulated markets are available to us.
  • #67
  • Last Post: Nov 8, 2009 11:10am Nov 8, 2009 11:10am
Quoting xtraction
I tend to agree with you. Would you care to elaborate more on this?

All you need is the IRD
previous high low

understand how the market works what drives it ... the IRD. The big smart money is always gonna come in to catch the carry.. so you always wanna help and be in before the big money. I trade it like its random till its not then I let it run all day all week the whole month or year if i can. Why not Im getting paid to hold it anyways.. hold positions against the IRD makes me nervous I dont do it.. I dont like to watch my account slowly waste away under leverage and a negative IRD while im in the red on my trade.
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