I have experimented with lots of different indicators and strategies. I've used all kinds of divergence indicators, trend indicators, MACDS, shmuckdees, you name it.
I will be posting charts here of trades that I take simply based on price action analysis.
Few simple rules...
Try to trade with the trend.
Okay, so it's actually only one rule
Buy on dips in uptrend, sell rallies in a downtrend.
Stops will depend on the context of the trade. Using fixed stops on every trade has been a great way for me to slowly churn and burn my account over time.
I don't believe in simply doing an analysis of a chart/PA at a certain point in time, and then doing a *set it and forget it* trade.
Price action is dynamic, it's not static. When that new bar prints, it could drastically change my view of the market. So I act accordingly.
I will sometimes pull out of a trade that I see is working against me, again, as witnessed by continuous, dynamic price action. There can be fake-outs, too, but nothing is perfect. If I get out of a trade, and then see price action confirming my initial expectation, I might get in again. Commissions/slippage are a bitch, but so is getting steamrolled by the market.
I watch 3 charts...
100 tick
450 tick
3150 tick
I hope this thread will attract other forex traders and anyone willing to learn and advise. My trades will be posted in real time, and they are REAL money, not demo. My only request is that if you're going to post your trades and charts, you better be trading REAL money, not a demo/simulator!
Yeah, the market is random, but I wish that whoever reads this thread will learn from my losses, and hopefully, learn even more from my wins. I always have an open mind to new ideas so feel free to advise here.
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I will be posting charts here of trades that I take simply based on price action analysis.
Few simple rules...
Try to trade with the trend.
Okay, so it's actually only one rule
Buy on dips in uptrend, sell rallies in a downtrend.
Stops will depend on the context of the trade. Using fixed stops on every trade has been a great way for me to slowly churn and burn my account over time.
I don't believe in simply doing an analysis of a chart/PA at a certain point in time, and then doing a *set it and forget it* trade.
Price action is dynamic, it's not static. When that new bar prints, it could drastically change my view of the market. So I act accordingly.
I will sometimes pull out of a trade that I see is working against me, again, as witnessed by continuous, dynamic price action. There can be fake-outs, too, but nothing is perfect. If I get out of a trade, and then see price action confirming my initial expectation, I might get in again. Commissions/slippage are a bitch, but so is getting steamrolled by the market.
I watch 3 charts...
100 tick
450 tick
3150 tick
I hope this thread will attract other forex traders and anyone willing to learn and advise. My trades will be posted in real time, and they are REAL money, not demo. My only request is that if you're going to post your trades and charts, you better be trading REAL money, not a demo/simulator!
Yeah, the market is random, but I wish that whoever reads this thread will learn from my losses, and hopefully, learn even more from my wins. I always have an open mind to new ideas so feel free to advise here.
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