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Best place to learn and become a consistent trader?

  • #41
  • Mar 29, 2012 9:03pm Mar 29, 2012 9:03pm
There are a few combined ways you can implement and execute price SR levels. Using previous SIGNIFICANT highs/lows as key areas to take a bounce off or by simply applying the same strategy via trend lines.

Wait until price defines the direction for you by breaking out of congested areas or by generating new highs/lows then anticipate the retracement or pullback and enter on a re-test. This allows for a great entry with little heat at times, plus you have also allowed for the retracement which is very critical...

Use the example below as reference, long on GOLD (XAU/USD) once price penetrated the trend line came back down tested the line and then executed BUY.

Hope this helps
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  • #42
  • Mar 30, 2012 6:00pm Mar 30, 2012 6:00pm
[quote=hellas;5525885]There are a few combined ways you can implement and execute price SR levels. Using previous SIGNIFICANT highs/lows as key areas to take a bounce off or by simply applying the same strategy via trend lines.

Wait until price defines the direction for you by breaking out of congested areas or by generating new highs/lows then anticipate the retracement or pullback and enter on a re-test. This allows for a great entry with little heat at times, plus you have also allowed for the retracement which is very critical...

Use the example below as reference, long on GOLD (XAU/USD) once price penetrated the trend line came back down tested the line and then executed BUY.


On its way....Blue zone next possible area for profit taking
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  • #43
  • Apr 1, 2012 6:37pm Apr 1, 2012 6:37pm
Gold reacts well to major support & resistance levels
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  • #44
  • Apr 2, 2012 5:09am Apr 2, 2012 5:09am
Hi Nickopip, I am a newbie as well and have found TradingIt.com very useful for a great learning place. Moderators have been very helpful!
  • #45
  • Apr 2, 2012 8:00pm Apr 2, 2012 8:00pm
Quoting stina
Hi Nickopip, I am a newbie as well and have found TradingIt.com very useful for a great learning place. Moderators have been very helpful!

Stina I would have to agree, they take very similar set ups in the live trading room as I do, not bad for a free service I must say, plus got my free custom programming done with them, any ea or indicator programmed for free. Finally a great educator offering great free services for the user.
  • #46
  • Apr 2, 2012 10:37pm Apr 2, 2012 10:37pm
this is the best place for trading, u can find a lot of trading system u can learn how to manage your emotion while trading, learn how to have a good money management, with other member opinion u can have a better trading system thats suit for yourself.
  • #47
  • Apr 2, 2012 10:55pm Apr 2, 2012 10:55pm
try to open www.babypips.com thats a good site for new trader basic technical and fundamental analysis.

in this forum, u can find a lot of interesting stuff. u can learn from other member to improve your trading plan, remember MONEY MANAGEMENT is the most important think when u trading, and trading is not the way to get a lot of money in a very short time if that happen just thankfull coz market give u some bonus.

for me trading is more like gardening; plant seed, water the seed, kill the pest as time goes by that plant that u care will give u the best fruit ,then harvest the fruit. coz trader arround me think that trading is a fast way to be rich,and i realized that totally false. u need a consistent way to improve your trading so u can improve your profit... IMHO
  • #48
  • Apr 2, 2012 11:58pm Apr 2, 2012 11:58pm
Quoting rhoune
this is the best place for trading, u can find a lot of trading system u can learn how to manage your emotion while trading, learn how to have a good money management, with other member opinion u can have a better trading system thats suit for yourself.
so wrong. lots of these systems are crap, and most members here are not profitable. I personally don't need opinions of unprofitable traders. And finding the ones that are indeed profitable over the long-term is like finding a needle in a haystack.
  • #49
  • Apr 3, 2012 5:08am Apr 3, 2012 5:08am
Quoting rhoune

this is the best place for trading
Seriously?

Like Custos said, most of the systems here are garbage!

Occasionally you'll find the odd nugget among the dross of posts but in the majority it's entertainment value only, and even that's limited.


Quoting rhoune

u can learn how to manage your emotion while trading, learn how to have a good money management
With a system, money management, and discipline you shouldn't really have any emotions to manage.
  • #50
  • Apr 3, 2012 5:42am Apr 3, 2012 5:42am
Break of trend line short after consolidation and bounce off blue zone
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  • #51
  • Apr 3, 2012 6:39am Apr 3, 2012 6:39am
Almost there
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  • #52
  • Apr 3, 2012 6:54am Apr 3, 2012 6:54am
Quoting Ifmyante
Have a look at Price is Everything, Romancing the Price, and PIE Chatroom

It's the real deep end of the learning pool, but it's the best view on how the market works

Best

If
Those treadh [and the james 16 chart treadh ] are the best place for a newbie [like me] because they dont'teach a system or a "revolutionary method", they just talk about price, how price work and you can use it to trade.
The only problem is that those treadh are huge, and you have to dig day by day all the valuable info that they contain. Hard job but valuable.
Sometime the horizon disappear. Twitter: @_whiteout
  • #53
  • Apr 3, 2012 7:35am Apr 3, 2012 7:35am
Quoting Custos
so wrong. lots of these systems are crap, and most members here are not profitable. I personally don't need opinions of unprofitable traders. And finding the ones that are indeed profitable over the long-term is like finding a needle in a haystack.
This from the person who made 3000 posts before admitting short term traders can be profitable. Unbelievable.
  • #54
  • Apr 3, 2012 1:56pm Apr 3, 2012 1:56pm
Quoting jag1966
This from the person who made 3000 posts before admitting short term traders can be profitable. Unbelievable.
never said that. I only said that superior returns are very much achievable. Didn't include nor exclude the profitability of short-term traders in that statement.
  • #55
  • Apr 3, 2012 2:34pm Apr 3, 2012 2:34pm
Quoting Custos
never said that. I only said that superior returns are very much achievable. Didn't include nor exclude the profitability of short-term traders in that statement.
The posts are there for everyone to read, WHATEVER.
  • #56
  • Apr 3, 2012 2:35pm Apr 3, 2012 2:35pm
Quoting hellas

Break of trend line short after consolidation and bounce off blue zone
Sorry did your little head get lost or something, the trading systems and trading journals are this way.....
  • #57
  • Apr 3, 2012 9:27pm Apr 3, 2012 9:27pm
Quoting pipmutt
Sorry did your little head get lost or something, the trading systems and trading journals are this way.....

Hi Pipmutt, I have been trying to help a few newbies in this thread with a simple consistent system using support & resistance. If it is not helping I will stop. Thanks
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  • #58
  • Apr 3, 2012 9:51pm Apr 3, 2012 9:51pm
Quoting hellas
Hi Pipmutt, I have been trying to help a few newbies in this thread with a simple consistent system using support & resistance. If it is not helping I will stop. Thanks
Ive actually been getting a lot out of them Hellas cheers .. sometimes i don't look as far back as i should to see where S&R lines may be retesting the way you illustrate it has helped me take my blinders off a little ..
  • #59
  • Apr 3, 2012 9:53pm Apr 3, 2012 9:53pm
Quoting hellas
Hi Pipmutt, I have been trying to help a few newbies in this thread with a simple consistent system using support & resistance. If it is not helping I will stop. Thanks
maybe you can post where pipmut suggested as well hellas ? that way other newbs might be more likely to come across you posts ?
  • #60
  • Apr 3, 2012 11:13pm Apr 3, 2012 11:13pm
Quoting jag1966
The posts are there for everyone to read, WHATEVER.
Then please show me, as I can't remember them.
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