trading using moving averages

BlueWaterSailor said:
Great. Please explain Paul Tudor Jones, Ed Seykota, George Soros, Warren Buffett - for that matter, all successful traders in the world. Are they all accidents?



You seem to imagine that a trader's edge is some single fixed action, carved in stone and to be followed religiously whether it works or not. I don't think I'm going out on a limb by saying that this perspective is absolutely and categorically wrong.



Which has nothing to do with an edge. Risk management is comparable to brushing your teeth and taking a shower; it's good hygiene, but it will not result in big muscles, a good tan, or the ability to land a 300-lb punch on target. You have to go beyond basic hygiene and take positive, repeated, correct actions to achieve those.



Until he learns to practice that basic hygiene, yes. But that will not make him money; it will (or should) prevent loss.

Unless, of course, the probabilities - remember, that thing we were talking about before you changed the subject? - don't play out. Risk management also does not offer absolute guarantees.



Great. What does that have to do with trading NOT being about probabilities? That's what your question implied, and it would be nice if you'd stick to that subject and explain your viewpoint (which, for the moment, remains incoherent.)
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BlueWaterSailor,

Please provide your top 5 to 10 qualities that makes a consistent profitable day trader?
 
padutrader said:
i will use the following moving averages

4 period exponential,9 period exponential, 50 period simple , 20 period simple , 100 period simple.

an entry will be considered when the shorter period exponential averages are 'far' from the other longer term averages AND if these longer term ones are also relatively flat showing the markets may be over extended in the short term.
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I assure you, moving averages work INCREDIBLY well for day trading currencies (and other commodities), or even long term trading. I also suggest adding a 200 EMA (I also use a 100 EMA instead of a 100 SMA). The difference is that I don't use any crossovers, I use them as support and resistance, essentially like ladders. My strategy is more complicated than that because I use a couple of other things on my charts, but essentially, that's how I trade and it is quite accurate (with a couple of minor tweaks).
 
bbpp said:
WHO IS TAKING THE OTHER SIDE OF THE TRANSACTION?

The ones who have worse judgement than you.
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no not really

it is not about judgement.

they can trade with probability with 30 % if they have a risk reward of minimum 1:2.

to be profitable you have to be consistent with your probability and risk reward.

world class traders are consistent with their RISK REWARD.

IF probability is high reward has to be 1:1; if probability is low go for minimum 1:2

fraudsters promise probability of 100% and huge reward.

this is impossible

and that is why it is a fraud
 
easymon1 said:
mr padutrader,
do you have a Written Trading Plan?
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i use Toni Tansen and brooks



what do you use

edit i trade context and sue simple entry strategies.

i really like Toni.........she is a little more longer term than brooks so both supplement each other

i would recommend Toni to everyone
 
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