Trading is a zero sum game so don't give this agenda driven,self-important little person any help at all.
lol yup huge agenda. tradings actually a negative sum game but to those who can filter out the right meaningful times to trade can can make money over a long time smoothly
What a great thread. Thank you NTW31. I have trouble determining bias. I have tried hundreds of different things and indicators and nothing seems to be working very well. I seem to know nothing. Any ideas on where to start with determining bias?
drop a 20 EMA on your chart doesnt matter what the time frame is when price is above the 20 ema look how many up arrows will form in succession. and look how many will form down... the same is true if its under the 20 ema.... the 20 ema can be used to determine bias and also the if you are trading intraday the daily can provide bias.. you dont need indicators to trade.
Glad to see you're still alive nuke. I started working on an FXSpyder script (automated front end for Oanda) to implement some of your ideas. Unfortunately I got side tracked on another app for stock day trading. When I finish my phase 1 of that, I'll look back into the FXSpyder stats trading script.
i didnt know there was an automated front end for oanda.... steve u keep surprising me about things like the trailing stop lol
It's a third party provider. Normally you'd have to pony up $600/month for Oanda's API. But these guys cover that and just charge 0.25 pips per trade. The implementation language is not MT4 unfortunately but a Javascript derivative. Still, it seems to work pretty well.
working on new statistical system this is the first trade that came out of it. in long 1.26108 stop at 1.256 and tp at 1.2815 R:R- 204.2:50.8 R:R-4.0196
Excellent advice. You should only reverse that thinking if price makes two consecutive higher highs or lower lows in the opposite direction vs. the Open (signals change of trend).