every Saint has a past. Every Sinner has a Future
Are you a trend trader or a counter-trend trader? 29 replies
Baby pips style academy for other financial markets? 6 replies
from retail trader to full-time trader 17 replies
Discipline Trader and Voice Trader EA/IND 16 replies
Disliked{quote} Good stuff Exactly what I had hoped people to arrive at. As skyway put it, this is the "end-game" of trading - researching and developing your own system. And thank you Sakk for coming out of hiding The 2B way is a high-probability approach to things For the purposes of illustration, I thought I'd sketch a simple approach to this. The idea is to use a SMA100/8ATR Keltner Channel and a Coppock Curve as momentum indicator. Trades are taken from the MA and exited at the channel envelope, or from the envelope and exited...Ignored
Disliked....I would say the exit strategy is THE MOST IMPORTANT part of a trading system. .....Ignored
DislikedKeltner and coppock ? Cannot find them on MT4 ? I suppose I am discretionary but thats just me. Having said that I am always willing to look at other approaches and will take a look. Good thread for discussion here chaps -well done.Ignored
Dislikedhttp://www.forexfactory.com/showthre...=544538&page=2 I opened a thread a while back titled ' Were you one of the world's best traders trading demo'? Obviously it discusses the merits or lack thereof of trading demo as opposed to live. It generated some interesting comments that some people following this thread may find useful.Ignored
Disliked{quote} Good post by you on that thread Reminds me of somebody I taught a profitable system some years ago. The chap back-tested it with encouraging results, demo-traded it for three weeks tripling the account with prudent risk-taking. Then he decided to open a live a account and deposited 5k to trade with. They were gone in a week!Ignored
Disliked{quote} Actually, demo trading is extremely difficult in my opinion because unless you are extremely disciplined you end up taking trades you would never take on a live account. It is only useful if you treat it exactly like a live account, which in my own experience, is practically impossible. It helped me by showing me what I was capable of achieving, not what I would achieve.Ignored
DislikedGM - as ever, some great posts here My view is that demo is for learning your platform, researching and setting up your system. Once that's done, then switch to live trading with the broker's minimum size - Real Money IS different to demo - either take our word for that - or loose some money - usually fast! I research a contract - my last one was the Dax - by analysing and recording every swing on the time frame that I will be trading over the last 100 trading days either by hand in an A4 notebook - or on a spreadsheet. Once done and analysed...Ignored
Disliked{quote} As promised, here's my penultimate trade on Tuesday 2nd. I remember posting on the Carpe Diem Dax/Dow thread in the morning that Tuesdays usually say big price movements, and I wasn't wrong. I've attached two charts, one showing a close up of the candles, and the other showing the whole aspect. I took both entires you see, the lower losing one, and the higher winning trade, off of this 1m chart. My mistake, as always, was immediately apparent once my SL was hit, a SL of 13 which placed it above the Bollinger. This trade was probably a trade...Ignored
Disliked{quote} From what I have noticed (I'm still new to 30sec charts) if price comes down to touch the trend line in your example (50ema on my chart) is usually a sign that the rally cooling down. Price usually bounces off this level before shooting up the last time where your SL got hit. And then came a lower high a second short entry where I most likely would have went short (I can't do any higher than this like you I'm still a noob ) I enjoy this kind of post of yours the most. Keep them up. {image}Ignored
DislikedFibo can work as many other indicators, everything depends on how they are used; most of the people is trying to hammer a nail in the wall with a screwdriver..... I think the biggest difficulty is to arrange a cluster of tools that allows a trader to be no more blind folded: but to reach such a result is necessary to see what is hidden behind chartsIgnored
Disliked{quote} Aha, but remember that the trend line wasn't there when I went short, I drew it in afterwards, in time to take the second trade. And a candle like that one I traded off on the second trade is always worth taking if it comes right beneath a big S&R area, in line with current momentum, because all the other like-minded traders, and there will be a good many, will also hit the sell button when they see it - try to put yourself in the minds of other traders at all times - it helpsIgnored
Disliked{quote}[/b] Nothing works in isolation as I've said many times, it's all about getting a cluster of indicators/signals to help you determine likely S&R levels. And I know what you mean when you say ' hidden behind charts ', but actually, everything we need to know is all there, we just have to find it, a bit like one of those trees with 15 donkeys hidden inside it.Ignored