Trading indices 9 months. I'm at 3000% ROI, with 80%+ accuracy. There is still room for improvement which is why I am interested in learning about Fib levels more. I have never tried fibs as part of my trading before, so its interesting. I have tried in the past but always found pivots to be more reliable. I am not trying to dispute what anyone else is saying, I just want to see it in the same way. Thanks for sending the detail. I will have to triple check again, all I see is long set ups, unless there is a significant change in direction right this second, which does look like might be taking place.
keep using what works with that ROI! gradually incorporate new instruments & keep educating yourself with screen time.... experience is the best & only teacher! if your serious about making this your life work... I`d strongly suggest getting Al Brooks course... This will streamline you to where you want to be!!!! Option 1... skip the forex crap. https://www.brookstradingcourse.com/video-course-table-of-contents/
Thanks, I will look into it. Yeah that's what I read in that old book by that dancer. Stick to what works. Sure I could do that, but I totally believe fibs work too, I just need to learn a bit more about it. Right now I am using pretty small positions sizes, but I want to get over 90% accuracy and then start to increase the position sizes.
The sooner you educate & learn to read PA... the better... it`s an art form. You will be able to open a chart & read it like a book with set ups that jump out at you vs. you having to dig for them.... Brooks will expedite the curve... wish id discovered him 33 yrs ago as he would`ve saved me a lot of money... I learned PA through sheer determination & screen time.
https://www.brookstradingcourse.com/market-update/emini-strong-reversal-up/ Emini 5-minute chart and what to expect today Emini is down 67 points in the overnight Globex session. While that is many points down, it is not even a 50% pullback of yesterday’s bull reversal bar. The odds are that the bears will use this overnight selloff as a way to buy back their shorts at a better price. The pre-market selloff looks like a bear leg in a trading range, which makes me think the open may rally. While I expect a bull rally on the open, I also expect the bulls to be disappointed today after a strong bull reversal bar yesterday. Trading ranges are notorious for causing disappointment which makes traders question the setup in front of them, such as buying above yesterday’s bull reversal bar. If today is a weak entry bar for the bulls or a bear inside bar, it will make traders question the probability of buying above yesterday. As with most days, traders will expect a trading range open and look for a swing trade with a breakout or a second entry buy or sell setup.
Love the bump up in the overnight action. Looking good getting back into the Bollinger Bands---.Staying short
Well, while I have only traded indices for 9 months I have been trading shares for a lot longer. I find indices much easier to predict. I have been, in my opinion, pretty good at capitalizing on trend reversals. Until this week. I have read quite a few books on PA. I was up until about 20 mins struggling to see the case for short opportunities so trying to understand other people's view. I was seeing long all night, up until about now