By far the best way to show a system in action is to show live charts and live trades as they happen, with some analysis of the charts after the fact.
This is what I will be doing in this thread.
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Enough said, anybody that wants to add to their experience levels should be able to take aspects of this, run with it and see what'll work for them ie put their OWN indi's/settings on. That way you'll see its not the specific indi setting (ma or stoch) that will make, or break, your trading.
The size of the bars is not that important.
When using bigger bars you potentially will not see a signal for a few days.
Which is not really a problem, but what appears on a 25R chart looks very similar to what appears on a 10R chart, the only difference is the time in between setups.
I hope this makes sense.
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I believe a good trader should be able to trade off any line or MA. My 20pip chart attached, with 21EMA, 50EMA and 100EMA. Not too hard to see some entries, and why I've sat on my hands for the last few days.
I believe a good trader should be able to trade off any line or MA. My 20pip chart attached, with 21EMA, 50EMA and 100EMA. Not too hard to see some entries, and why I've sat on my hands for the last few days.
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Yes, the point being a good trader, or experienced trader or someone who knows how price moves with respect to levels in the market, support and resistance.
There was a pull back signal, however there was no trend continuation signal based on the stochastic indicator.
Market ranging still, and no trade based on strategy.
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From that chart it looks like your indi's did singnal a continuation. Im asuming the top 3 indi's when they indicate red = short ? Or is the arrow on the chart pointing to the wrong one ?
Yes, the point being a good trader, or experienced trader or someone who knows how price moves with respect to levels in the market, support and resistance.
