DislikedA really nice combination is using two timeframes, 2 steps apart.. Weekly direction on H4 Daily direction on H1 H4 direction on M15 {image}Ignored
Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 180 replies
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DislikedA really nice combination is using two timeframes, 2 steps apart.. Weekly direction on H4 Daily direction on H1 H4 direction on M15 {image}Ignored
Disliked{quote} The strategy is simple, but you have to have the right information. Then you have the challenge of believing in it... that may take longer. Rule 1 to put at the top of your plan is accepting the laws of scale... M5 is exactly the same as daily, weekly, H4, etc etc.... they all behave in the same way... fact! But a weekly move will not stop at a daily line, and a H4 move will not stop at M5... Higher the timeframe more power... fact, it's just basic principles of scale. Apply scale to your trading and you have an edge.Ignored
DislikedCheck out Price Action Trading Equation by Julie Hatch and Dadas Thread on FF combine the two and you have a methodIgnored
DislikedNearly all strategies are one of these three things: 1) breakout, 2) reversal, 3) pullback. Most people are wired to trade one of these. Figure out which one you are drawn to. Then ask yourself whether you prefer trading with or without indicators. The first 15 years of my trading career I was a pure pa trader and never used any indicators besides an ma. Never had a need for them. Since then, I have found some to be quite useful when the settings are tweaked away from the default settings. Sure, they lag, but when used appropriately they can make...Ignored
Disliked{quote} Thanks for your feedback, by the way, do you think it is difficult to adpot or develop an effective daytrading method?Ignored
DislikedFirst lets be perfectly clear the markets have not changed price still goes up, down and sideways there may be fewer long term trends as of late but the markets works the same as it always has. For me I have a few key patterns, not the ones that are batted about on this forum, I have found after years and years of trading and looking at charts. But trading is more than just finding some pretty reliable entries, which is what everyone focuses on, it is about knowing when to cut your trades short and get out with a small loss vs having your SL hit...Ignored
Disliked{quote} With a clear head and some logical thinking trading is a simple and basic game of probabilities, sacrificing pawns in chess to win rooks and bishops is obvious and easy to execute, but try getting someone to lose $50 bucks 4 times on the trot with a chance of winning $300... you can guarantee once they're down $100 they'll be chucking the towel in..Ignored
Disliked{quote} My post #69 is timeframe independent. M5, W1, it doesn't matter. You will only know by taking the time to do some backtesting. Some do not backtest, and so they spend months following a thread or a strategy, only to find out it didn't suit them. In the meantime, they have wasted precious time on it. There are many fish in the ocean. If a thread or strategy does not connect with you relatively soon, then move on to another one. Sooner or later, you will find one that speaks to you. I pm'ed you about [url="http://www.forexfactory.com/showthread.php?t=280673"]Flag...Ignored
DislikedHow hard is it to find and effective day trading method? Firstly as you read many of the posts here (mine included) remember that every poster is more than aware that 95% fail in trading. No one here wants to be in that group. Just a thought! I don't think I ever FOUND an effective trading method. But what is effective to you may be useless to me, most of the mum and dad investors that roam these forums have quite a lot more to invest the markets and so are happy to settle for a medicare way of viewing the markets and this is enough for them....Ignored
Disliked{quote} agreed ,with your quotes,,madam,,, But what is effective to you may be useless to me salaamIgnored
DislikedHow hard is it to find and effective day trading method? Firstly as you read many of the posts here (mine included) remember that every poster is more than aware that 95% fail in trading. No one here wants to be in that group. Just a thought! I don't think I ever FOUND an effective trading method. But what is effective to you may be useless to me, most of the mum and dad investors that roam these forums have quite a lot more to invest the markets and so are happy to settle for a medicare way of viewing the markets and this is enough for them....Ignored
DislikedI trade for living. I have more losing trades than winning trades. I end every month in profit. Money management is name of the game if you are playing trading game. If you are gambling then you don't need money management.Ignored
DislikedFirst lets be perfectly clear the markets have not changed price still goes up, down and sideways there may be fewer long term trends as of late but the markets works the same as it always has. For me I have a few key patterns, not the ones that are batted about on this forum, I have found after years and years of trading and looking at charts. But trading is more than just finding some pretty reliable entries, which is what everyone focuses on, it is about knowing when to cut your trades short and get out with a small loss vs having your SL hit...Ignored