@kor4x
ok ok but where exactly u enter? but in my opinion we use fibbo lvl to know when we must enter. But i agree with you but still it does not explain when we should enter
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@kor4x
ok ok but where exactly u enter? but in my opinion we use fibbo lvl to know when we must enter. But i agree with you but still it does not explain when we should enter
GOLD
http://charts.mql5.com/2/102/gold-h4...tments-inc.png
important resistance so time to short?
Guys what u think about eurusd and this setup :
http://charts.mql5.com/2/103/eurusd-...tments-inc.png
Last edited by sly_fox; 07-23-2013 at 10:02 PM.
looks like its getting close to that short area
2013-07-23_1955 - stock333's library
Just a thought:
Is there a simple mechanical system for manual trading that always wins? Anyone have found such?
I think there is NO such simple mechanical system that CAN BE traded MANUALLY by HUMAN that can survive different market conditions (trends, horizons, small and high volatility, gaps, negative spreads, emotions, long-term discipline, fear and greed ...).
Note the KEY words: 1. simple 2. traded manually
With good MM, the grid systems could be considered as such "always winning simple mechanical systems". But such system would have to trade with small position size, and fearless long-term discipline, so are more suited for EAs/automats than for HUMANs manual trading. Maybe APAMI fits here, maybe some other GRID concepts presented here: Trading Systems
Anyway, long-term these are not for humans.
More advanced (not simple!) mechanical systems, that analyze different parameters, conditions, timeframes, enter very precisely and offer high R:R could be also the candidates for "always winning mechanical systems" (but again, these cannot be considered as simple).
Anyway, these are not simple.
To $$$ on markets, persons needs a system (whatever system actually, can be simple, can be complex) but what's more important needs "SKILLS and HUGE EXPERIENCE" (how to actually call it properly???). What's most interesting, when trader has this "SKILLS and HUGE EXPERIENCE", the system does not matter anymore, any trading technique can be used and used profitable.
What’s your thinking on it?
I think that with experience comes skills, every chart you look at or every trade you take subconsciously you are adding to your experience and skills bank. This is where you really start looking at your exit, did I exit too early? did I exit too late? can I add to my position? questions like these keep trading interesting and tests you everyday.
How many hours trading you need to feel the pulse of the market I do not know, some say 10,000.
I heard a story the other day of a trader that adopted a new strategy after being unprofitable for 11 years, then all of sudden snap he becomes profitable, I've had a look at the strategy and I can honestly say that it's a strategy for experienced technicians with no rules or guidelines basically trading on the idea that there are market makers stop hunting and trapping you continuously. I think his profitability has more to do with the fact that he spent 11 years or so looking at charts. Don't you?
Last edited by jtrader; 07-24-2013 at 02:49 PM.
I think there are different ways to look at charts. Some look and learn, some look and don't see nor study. I personally lost minimum 2 years looking at charts but not learning much out of it.
I think the Gladwell rule of 10000 hours to be Good applies here:
Never looked at stop hunting strategy, but seems to be a valid idea. If you can share some more about it...
Steve Mauro's course comes to mind and also this huge thread located over at Steve Hopwood's Forum here
nice, clean, all scenarios for EURUSD, you may like it: EURUSD Elliott Wave H4 | Magictrader | Blog by Daniel Kostecki – Teoria Fal Elliotta