Best strategies to start trading

[themickey]

That sounds like a full-time job. I already have one of those.

Yes and no re fulltime.
Long term traders don't need to look at daily charts.

 

[themickey]

Most of my time is spent trying to dream up new out of left field whacky algo ideas, the sort of stuff that sounds ridiculous.

 

[tomorton]

Can you clarify what you mean by this?

I generally look for a daily forex chart on which the MA's form up as described. Then find a chart as above but on which today's daily range shows a high which is lower than yesterday's. Note the price marking this high and set a buy order at or slightly above this price. Then go off and read a good book while you wait for the order to trigger.

If the order does not trigger and today's daily high is lower than yesterday's, lower the entry order price to at or just above today's high (as long as the criteria for the two MA's as described are still met).

 

[ironchef]

Most of my time is spent trying to dream up new out of left field whacky algo ideas, the sort of stuff that sounds ridiculous.

Actually me too.

Merry Christmas to you and your family.

 

[ironchef]

Not necessarily. I go on home repair forums all the time and just ask questions.

You could learn that fundamentals is what moves markets in the long-term. Not technical analysis. But you probably knew that already.

I don't use technical analysis to trade.

 

[farmerjohn1324]

I don't use technical analysis to trade.

So you're a position trader?

 

[MercForHire]

If you trade off fundamentals you better know what you are looking at. No it’s not mainstream media economics or zerohedge.

 

[farmerjohn1324]

If you trade off fundamentals you better know what you are looking at. No it’s not mainstream media economics or zerohedge.

True. And even the best are wrong sometimes. Soros made many losing bets.

 

[themickey]

True. And even the best are wrong sometimes. Soros made many losing bets.

A 50% win rate, even less is acceptable.

 

[MercForHire]

I would say anybody who has to post and ask for advice or even discuss their fundamental ideas on a public forum, doesn’t know what the heck they are doing. People who really figured out the key data/fiscal policies that forecast the market’s near future, won’t say anything about it publicly and only give out their ideas to their clients.