I did not make a personalisation, this was a generalisation but based on facts concerning my situation - it is a fact that many people have told me that trend-following cannot work in current markets. Yes, I am willing to wait for alignment. within the context of my approach, it is the alignment which confirms the trend's strength. Without this it is potentially not a trend but certainly a chart I would avoid trading. It is obvious that following a trend necessitates awaiting for the trend to form, it is not entry on a reversal in anticipation of the trend. From that point of view many traders call trend-following entries late: from the trend-follower's point of view, entry into a strong trend is timely and correct, no matter how long after the previous chart pattern ended. Slope angles could be a useful way to assess the attractiveness of a trend. The angle varies according to the chart duration and time-frame so in order to be reliable these would have to be standardised for the assessment process and decision-making point. So far I don't find an additional filter like this to be useful but it could be worth looking at.
Forex 10 years ago was tradeable 24hrs per day pretty much,these days too slow maybe 2hrs gave up moved to indexs 4 years back.
So this guy was last seen 25 March 2016 and made a total of 16 posts and only one on this thread... so I guess it has gone far beyond just answering the OP. Anybody who after a bit of study can't figure out at least one or two strategies that can work, on his own, probably shouldn't be trading. If you simply look at a few dozen charts with Bollinger Bands on them, at least one obvious one if not a couple of them should present itself. Applied with discipline a simple BB strategy will in the long run make at least a modest profit, with good money and risk management. Same with VWAP, or SMA or EMA of various lengths. Or analyzing for support/resistance, or cross validating price and volume to verify trends. Reversals. Momentum. Pattern recognition. The strategy itself isn't as important as the management and discipline. My first day of live trading, with an underfunded account, I made $800-something with a simple bull flag strategy. It was all about following it and not freestyling, setting a proper stop, and sticking to a plan. I didn't make that up, either. I learned it from a book and relearned it from other books and from the many small losses that followed my first day. planning the trade and then trading the plan is a core element in success. It's all out there, in books, on youtubes, in blogs. The human element is the big stumbling block. And the certainty that for every dollar gained in the short term, someone else must lose a dollar. The weak get eaten, and weakness is relative to the other players.
Well they have bad and good periods but currently they are experiencing outflows, probably because of change in attitude to risk or weak performance. Big US five lost money in trading during 1-2Q of 2019 I think hedge funds underperformed too.
This is important to know if you trade like a hedge fund and not like a private retail trader. Do you actually do that?
I agree with you. I can tell you been trading in real time. Cause you write like me. In my own prior trading. My losses was due to thinking I have a full trading strategy, and I did not. My trade management was NOT clearly defined, my stop loss placement was NOT clearly defined and followed, and where or when to exit was not clearly defined. And most important, because those were not clearly defined. I did not properly back test my approach and confirm my approach to traded was profitable in history to increase my odds of success and trade going forward comfortability and reliable. You are right, a plan is required per trade. And that plan can not be 2nd guess or doubted while trading. Like now, I find myself no longer worrying on entry, but trade management and getting things written down so I manage myself. Trying to freestyle/half-ass/bullshit/hoping/wishing is not a strategy. Just a mental stress losing proposition. The key part you mentioned there is Study and where to study from.
if there is no trend-and trend means movement in a particular direction-then how on earth can you make money? so what people told is you is absurd
i found rsi useful but that is just me.....i use 5 13 20 ma with 7 rsi......but these are just tools......and since i have 8 years practical experience maintaining aircraft...i know that not everyone uses the same tools in the same way but i also use chart and price analysis
it is because of this that many traders swear by indicators while others swear by price action.....there are many ways to use both of these and after decades of study, i am still finding different ways, to use both
There is no hard and fast rule to earn money in trading. You need to develop your own style of trading by understanding your strengths and weaknesses . As far as your losses are concerned you should rather spend some time demo trading where you can test your strategies and familiarize yourself better with the trading platforms. See which strategy works best for you and when. Pen down your strategy into a plan each day and I think you are good to go.