I still consider myself an apprentice,
any advice from someone more experienced is welcome
any advice from someone more experienced is welcome
Exceptional week
- Thread starter trader1974
- Start date
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I thought the market was going to fall.
This big 4 hour red candle has fooled me.
Again the price has bounced off the support
throw a 20sma on your 4 hr chart to gauge strength. If its still pointed up when the 4hr is under the sma, market still strong. Good way to avoid taking shorts when the market is oversold. Think of it like a compass
I presume you traded US session.
what time did you trade?
which was your great day/s?
there were certain days where market was trendy and hence easy to earn $.
on the other hand, there were certain days where market was untrendy and ....
sometimes signal came early and you were trading.
sometimes signal came late but you have already off your computer.
sometimes market moved too fast and we can't catch the signal.
sometimes market moved too slow and we became impatient.
sometimes market moved at the right speed for us.
there were certain days where if you traded during
US session and not Asian /Eur session you would be gnashing your teeth and vice versa.
sometimes NQ moved but ES didn't move (like what happened yesterday).
sometimes ES moved but NQ didn't move.
sometimes NQ and ES moved together.
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Excellent recommendation thank you very much, I do not use indicators but you are right
Hello Maxinger, if I did indeed change the USA session.
My worst day was Thursday and my best day was Friday.
On Thursday I lost a lot of money but I recovered until I only lost $ 400.
It was a nervous day.
On Friday he arranged the week.
I usually operate the first 2 hours.
This week I started badly but today I have recovered a part, I will be lucky if I end the week positive.
Any advice is welcome.
Luck! Good trading!
7 May up trend started during Asian session.
NQ was very tradable during Asian and Eur session.
Come US session, it was difficult to trade due to trend exhaustion.
8 May. NQ started uptrend few minutes after 930am ET. It didn't go up that much.
11 May. During European session, Europeans pushed NQ down a lot. Then
NQ started to go up around 930am ET. In fact NQ moved up massively. you probably missed this signal.
12 May Tuesday.
NQ was up during European session.
NQ was down few minutes after 930am ET.
As per my posting #33, all I can say is that there is sooo many possibilities as to how market is going to behave. We have to be very alert, learn from experiences and be prepared for sooo many possibilities.
at times, we have to avoid trading (eg on 7 May US session) because market is not trendy.
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Exactly.
On day 7 the Asian session and the European session were easy but in the USA session.
it seemed that the price wanted to fall and finally rose.
I took the signal because the price action indicated it and I won.
However if he had followed a moving average he would not have taken the signal because the moving average would have indicated down.
But I think I will have the moving average of 20 on the graph as wiesman02 says because it is interesting to see how the price reacts on that moving average.
The advantage may be trades with broader benefits.
On day 7 the Asian session and the European session were easy but in the USA session.
it seemed that the price wanted to fall and finally rose.
I took the signal because the price action indicated it and I won.
However if he had followed a moving average he would not have taken the signal because the moving average would have indicated down.
But I think I will have the moving average of 20 on the graph as wiesman02 says because it is interesting to see how the price reacts on that moving average.
The advantage may be trades with broader benefits.
Exactly right, that is the way I judge my trading results so we are in agreement.
I started trading with hundreds of indicators including moving averages.
Now I have nothing except candlesticks.
7 May US session it was quite obvious NQ movement was chaotic erratic messy untrendy
But sometimes, it may not be easy to detect it.