Ex bank trader uses hourly candles of hsi to day trade

JSOP said:
Hourly is not a good tf for daytrading anymore. It's too short for long-term trend determination and too slow for intraday profitable daytrading thanks to HFT. If you want to trade off hourly tf, you are gonna have swing trade. People need to do their homework and stop blindly following those "gurus". I can't believe people paid to listen to him.
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Yeah I believe he used to do hourly candle "day trade" in FX market, with 24 candles a day, actual swing trade then hourly candle makes sense. For HSI stock market only timing 6 candles dont make much sense. People who paid normally would not invest tons of times to backtest and think about how to trade.
 
GloriaBrown said:
Yeah I believe he used to do hourly candle "day trade" in FX market, with 24 candles a day, actual swing trade then hourly candle makes sense. For HSI stock market only timing 6 candles dont make much sense. People who paid normally would not invest tons of times to backtest and think about how to trade.
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Trading on hourly tf in the forex market makes more sense but then again if he's only been doing swap trading in forex when he was working for the bank, he wouldn't have much experience in daytrading as swap trading tends to be more long term. Daytrading is a whole new ball game. People tend to give traders more credit once they've worked for an "institutions".
 
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Opinions somehow given freely .... without knowledge of "guru's" skill, experience, strategy zippo.

Only that they use one hour bars. So?

I have no opinion one way or the other.
 
The Ex bank trader doesnt like and accept you guys comments, saying his way is the best.
He is charging people around 100 US dollars per month to join his instant messenger group for his day trade comments and he claims there are over 600 members, but he always doesnt hold any market position or only hold 1 small hsi future, only around 1 US dollar per 1 hsi point.
 
GloriaBrown said:
The Ex bank trader doesnt like and accept you guys comments, saying his way is the best.
He is charging people around 100 US dollars per month to join his instant messenger group for his day trade comments and he claims there are over 600 members, but he always doesnt hold any market position or only hold 1 small hsi future, only around 1 US dollar per 1 hsi point.
More...


This reminded me of my former forex coach.
he claimed he was a multi million dollar hedge fund manager.


he had this super high accuracy system which he got it from a paid site.
there were only one or two signals for you to trade per year.
and he claimed that over the past few years, the signals were highly accurate.

during the course, he traded live.
He called his broker (and the broker had problem trying to recognise his voice and name !) and he traded ONE PATHETIC LOT !!!!
so even if the trade was successful, he could only earn
$500 in one whole year !!!!
how to survive ?!?!

I thought he would have traded hundreds of lots to earn millions of dollars per year.

Till today, I still laugh at how foolish he was, AND
how foolish we students were.
 
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here is his "secret" way of day trading:
Weekly up candle+daily up candle =long
Weekly down candle+daily down candle=short
The other two posibilities: you buy whatever you want
I doubt any human can make any money base on this "secret"
 
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