TraderGod,
What is your drug of choice?
Contrarian Trader Tops And Bottom
- Thread starter nasir
- Start date
What is your drug of choice?
Agree, and it is also best R/R. But it demands a lot of experience and concentration if you targeting your entries from the small time frames. The reward is always tiny stop loss, you may lose really little but may enter in a good slide.
i understand what you are saying
it is impossible to make money fighting the trend.
there are so many trends at play at the same time.
a scalper may catch a one minute trend.
it is always relative high or low that the consistent traders are seeing
so in the wider sense....
some replied that this is obvious; but if it is obvious, how do so many many traders say 5M or M1 is noise?
it is obvious that if you are trading M1 your target may be only small.
everything in trading is obvious: yet traders look for secret ways to trade,do not share what they are doing......and it is equally obvious why 95% of traders lose money,if indeed that is true.
"it is obvious that if you are trading M1 your target may be only small." - you mean your first target, like 30% of your position size, just to lock profit and be in positive with fees paid and then you move your stops, following the waves, putting them under the new picks and never know how much market is willing to give to you, yes?
Yes, it reminds me, when very fresh of huge lose orchestrated by Swiss banksters on us, in 2008[they opened postion without telling us and we discovered that we have a huge loss only in October 2008, when tried to make a wire, will put more on our website], we started to follow some very pessimistic predictors, with the dark view and crash of Bank of America and everything, like BS is doing now, it helped a lot to the Credit Suisse' s gang to convince us to give up our 300K shares in FAS. Well done, we would not be traders, we would make our 60 mln profit and get in retirement for some years.
Maybe BS will inspire someone to do the same. by the time BS, do you have any parachute or you are planning to jump without as for many others you are predicting?
that is really a nasty personal comment:you should be appreciative of the effort people are making to write here
no i mean most of the time M1 will give small profits unless M1 is lined up with the larger time frames.
a reversal pattern in M1 in eur usd will give you 10-12 pips in my experience unless the larger time frames are also in the same direction
How long is your average hold time?
Today I concluded that the best way to use my trading system (Numerical Price Prediction) is to ONLY trade tops and bottoms, which I will attempt to do using two very similar simple moving averages, two proprietary dynamic price range envelopes, and a proprietary lower panel indicator I call my Price Anomaly Channel.